Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

Dukascopy
9.2 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT DUKASCOPY
MB Trading
0.6 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT MB TRADING
AvaTrade
9.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT AVATRADE
About

Dukascopy is regulated by The Swiss Bank and MIFID. Dukascopy has provided Forex, CFD, commodities, indices and stock trading services since 2004.

MB Trading is regulated by NFA 0339826. MB Trading have provided Forex trading services since 1999.

AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006.

Why choose them?
  • Yes Over 20 years in business
  • Yes
  • Yes
  • Yes Over 19 years in business
  • Yes
  • Yes
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Central Bank of Ireland, ASIC, FSA, FSB and BVI
Headquarters Geneva, Switzerland El Segundo, CA, USA Dublin, Ireland

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) No No Yes
CFD No No Yes
Spread Betting No No Yes
Social Trading Yes No Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 59
Commodities Offered 16
Stocks Offered 99
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes No Yes
US Stocks Yes Yes Yes
Penny stocks No Yes No
Energies Yes No Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes Yes Yes
Dow Jones Yes Yes Yes
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs Yes Yes Yes
IPO No No Yes
See all instruments

Losses can exceed deposits

See all instruments

Losses can exceed deposits

See all instruments

71% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes No Yes
MT5 No No Yes
MT4 Mac No No Yes
WebTrader Yes Yes Yes
Mirror Trader Yes No Yes
ZuluTrade Yes No Yes
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms SWFX Trader MBT, LightWave AvaTradeAct, AVAOptions

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes No No
Available Languages

Chinese, English, French, German, Italian, Japanese, Polish, Portuguese, Russian, and Spanish

English

English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch

See platform & features

Losses can exceed deposits

See platform & features

Losses can exceed deposits

See platform & features

71% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by Dukascopy and MB Trading

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account Yes No Yes
Standard account Yes Yes Yes
ECN Account Yes Yes No
Islamic account Yes No Yes
Zero spread account No No No
VIP account No No Yes
Fixed spreads No No Yes
Variable spreads Yes Yes Yes
See account options

Losses can exceed deposits

See account options

Losses can exceed deposits

See account options

71% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes No Yes
Expert advisors (EAs) Yes No Yes
Virtual private server Yes Yes No
Direct market access Yes Yes Yes
STP broker Yes Yes No
Market maker Yes Yes Yes
Min trade 0.01 Lot 0.1 Lot 0.01 Lot
Max trade None None None
Min deposit $5000 $400 $100

RISK MANAGEMENT

Stop losses Yes No Yes
Limit orders Yes Yes Yes
One-click trading Yes No Yes
Trailing stops Yes No Yes
Price alerts Yes Yes Yes
Signal trading Yes No Yes

FUNDING METHODS

Credit card Yes No Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller No No Yes
Skrill No No Yes
Payment processing time Varies Varies Varies
Withdrawal processing time Varies Varies Varies
See all funding options

Losses can exceed deposits

See all funding options

Losses can exceed deposits

See all funding options

71% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US US BE,BR,NZ,US,KE,IN,GH
Contact email Send Email Send Email Send Email
Phone number 41 227994848 No (44) (0) 8005200423
Live Chat Yes No Yes
Website https://www.dukascopy.com/ https://www.mbtrading.com/ http://www.avatrade.com/
Spreads:
EUR/USD (Average: 0.7 pips) 1.8 pips + $10.00 Not offered 0.9 pips
GBP/USD (Average: 1.1 pips) 2.3 pips + $10.00 Not offered 1.6 pips
USD/JPY (Average: 1.1 pips) 1.7 pips + $10.00 Not offered 1.1 pips
AUD/USD (Average: 0.8 pips) 1.7 pips + $10.00 Not offered 1.1 pips
USD/CHF (Average: 2.3 pips) 1.7 pips + $10.00 Not offered 1.6 pips
USD/CAD (Average: 2.9 pips) 2.3 pips + $10.00 Not offered 2.0 pips
NZD/USD (Average: 3.6 pips) 2.5 pips + $10.00 Not offered 1.8 pips
EUR/GBP (Average: 2.4 pips) 1.4 pips + $10.00 Not offered 1.5 pips
View all spreads

Losses can exceed deposits

View all spreads

Losses can exceed deposits

View all spreads

71% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee Yes Yes No
Commission Yes No No
Deposit Fee No No No
Withdrawal Fee No Yes No
View All Fees

Losses can exceed deposits

View All Fees

Losses can exceed deposits

View All Fees

71% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from https://www.dukascopy.com/. Last updated on 01/11/2019.

All information collected from https://www.mbtrading.com/. Last updated on 01/11/2019.

All information collected from http://www.avatrade.com/. Last updated on 01/11/2019.

Company

Dukascopy is the broker designed for active traders, hedge funds, banks and professionals. Dukascopy allow you to trade both Forex and metals through the same platform. Dukascopy have focused on providing an attractive pricing model with spreads for popular forex pairs starting as low as 0.2 pips.

They provide instant execution on orders and offer a wide range of trading orders including stop-loss along with their 24 hour support 6 days a week. They provide a large variety of free financial information through their website, Dukascopy TV online, and an active online community. Dukascopy is a great choice for traders looking for a broker that provides binaries, CFD's and forex services.

For more information about trading with Dukascopy, we have put together an indepth Dukascopy review with some of the pros and cons about this broker.

MB Trading is an online forex trading service provider who are regulated by the FINRA, SIPC, RFED/IB, NFA. To open an account with MB Trading, minimum deposits start from $400.

With MB Trading you can trade Forex, stocks, options, and futures. If you like to trade on the go, MB Trading have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

MB Trading offer MBT Navigator, MetaTrader 4 and MBT Navigator Wireless, MBT Desktop , MBT Desktop Pro , MBT LightWave , MBT Mobile , MBT Web , MBT Weblite, NinjaTrader platforms to make your trades and support 7 different languages.

They also offer traders with a technical background an API and a MBT SDK for creating custom applications.

The spreads offered by MB Trading for the most popular instruments are:
n/a EUR/USD, n/a FTSE 100, n/a GOLD,
n/a GBP/USD, n/a DOW/JONES, n/a Crude Oil,
see all the spreads here.

Since 2006, Avatrade have attracted over 20,000 traders to their platform. While their spreads are not the most competitive, they do offer traders a range of great features, such as guaranteed stop losses, the ability to hedge / scalp, and low margins.

For more information about trading with AvaTrade, we have put together an indepth AvaTrade review with the pros and cons about this broker.

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Dukascopy or MB Trading?

Access to MT4 or low spreads?

If you’re a trader looking for a broker that offers the popular MT4 trading platform, Dukascopy is likely a better fit. However, if you want a broker with lower spreads on currency pairs like EUR/USD, MB Trading may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider MB Trading to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

Dukascopy is regulated by FINMA & FSA, while MB Trading is regulated by NFA 0339826.

AvaTrade are regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

Dukascopy has been around for 21 years, while MB Trading have been around for 20 years. Our third alternative broker, AvaTrade, have been around for 13 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both Dukascopy and MB Trading use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on Dukascopy or MB Trading in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both Dukascopy and MB Trading are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Dukascopy are based in Geneva, Switzerland, while MB Trading are based in El Segundo, CA, USA .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both Dukascopy and MB Trading offer forex trading. Also, if you’re looking to trade cryptocurrencies,

neither Dukascopy nor Dukascopy offer commodity trading.

Dukascopy also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

Dukascopy also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. AvaTrade, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

Dukascopy does allow scalping and hedging. While MB Trading also allows scalping but doesn't allow hedging. You can trade with EAs (expert advisors) on Dukascopy but you can't trade EAs (expert advisors) with MB Trading.

In terms of risk management tools, neither Dukascopy or MB Trading offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

Dukascopy also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, Dukascopy charges 0.10 points, while MB Trading charges points. Therefore, MB Trading is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: Dukascopy or MB Trading?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, MB Trading is more reliable based on our criteria above. MB Trading has a wider range of instruments to trade. MB Trading offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.