image Dukascopy VISIT DUKASCOPY image TradeKing VISIT TRADEKING image City Index VISIT CITY INDEX
About

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

TradeKing is regulated by FINRA, Securities Investor Protection Corporation (SIPC). TradeKing have provided Forex, Stocks, Options, ETF, Mutual funds trading services since 2005.

City Index is regulated by the Financial Conduct Authority. City Index have provided Forex trading services since 1983.

Why choose them?
  • Yes Over 20 years in business
  • Yes
  • Yes
  • Yes Over 13 years in business
  • Yes
  • Yes
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
Headquarters Geneva, Switzerland 11605 N Community House Rd, Third Floor, Charlotte, NC 28277 London, UK

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 No
MARKETS & INSTRUMENTS
Forex (currency pairs) 84
Commodities Offered 26
Stocks Offered 4500
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No Yes Yes
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 Yes No
See all instruments

Losses can exceed deposits

See all instruments

Losses can exceed deposits

See all instruments

70% 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 No
MT4 Mac No No No
WebTrader Yes Yes Yes
Mirror Trader Yes No No
ZuluTrade Yes No No
Sirix No No No
cTrader No No No
L2 Dealer No No No
PAMM No Yes Yes
Custom Platforms SWFX Trader Trade King AT Pro, Advantage Web

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes Yes Yes
Available Languages

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

English

English, Spanish, German, Arabic, Polish, and Chinese

See platform & features

Losses can exceed deposits

See platform & features

Losses can exceed deposits

See platform & features

70% 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 TradeKing

Demo account Yes No Yes
Mini account Yes Yes Yes
Micro account Yes No Yes
Standard account Yes Yes Yes
ECN Account Yes No No
Islamic account Yes No No
Zero spread account No No No
VIP account No No No
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

70% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes No No
Hedging Yes No Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes No No
Direct market access Yes No No
STP broker Yes No Yes
Market maker Yes Yes Yes
Min trade 0.01 Lot $5 1 Lot
Max trade None None Varies
Min deposit $5000 $500 $25

RISK MANAGEMENT

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

FUNDING METHODS

Credit card Yes No Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No No
Neteller No No No
Skrill No No No
Payment processing time Varies 1 business day 2-3 business days
Withdrawal processing time Varies Varies 2-3 business days
See all funding options

Losses can exceed deposits

See all funding options

Losses can exceed deposits

See all funding options

70% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries AF, MM, CI , CU, of CG, IR, IQ, LY, KR, SO, SD, SY, AO, ZW AF, MM, CI , CU, of CG, IR, IQ, LY, KR, SO, SD, SY, AO, ZW US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW
Contact email Send Email Send Email Send Email
phone number 41 227994848 877.495.5464 0845 355 0801
Live Chat Yes Yes Yes
Website https://www.dukascopy.com/ https://www.tradeking.com/ www.cityindex.co.uk
Forex Spreads
EUR/USD 0.10 0.50
GBP/USD 0.10 0.80
USD/JPY 0.10 0.50
AUD/USD 1.7 N/A 0.5
Cryptocurrency Spreads N/A 70
View all FX spreads

Losses can exceed deposits

View all FX spreads

Losses can exceed deposits

View all FX spreads

70% of retail investor accounts lose money when trading CFDs with this provider

INDICE SPREADS
Dax 30 0.17% 1.0
Nasdaq 100 10.00% 1.0
Euro Stoxx 50 0.66% 2.0
ASX 200 1.0
S&P 500 0.50% 0.4
FTSE 100 N/A 1.0
Google 0.0015
Facebook 0.0015
View all spreads

Losses can exceed deposits

View all spreads

Losses can exceed deposits

View all spreads

70% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee Yes Yes Yes
Commission Yes Yes 0.0015
Deposit Fee No No Varies
Withdrawal Fee No No Varies
View All Fees

Losses can exceed deposits

View All Fees

Losses can exceed deposits

View All Fees

70% 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 01/05/2019.

All information collected from https://www.tradeking.com/. Last updated on 01/05/2019.

All information collected from www.cityindex.co.uk. Last updated on 01/05/2019.

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.

TradeKing offer fair and simple pricing at $4,95 for stock and ETF trades and $4,95 plus $0,65 per contract for option traders, TradeKing value their reputation and offer instant online messaging for TradeKing customers and you will be connected with a real live person without the extended hold times if you chose to pick up the phone to discuss any questions you may have, You will also get access to some of the best research and trading tools. like stock reports. Maxit Tax Manager. Probability Calculator and Stock and Option Screeners at no additional cost,

TradeKing will give you access to their award winning community of traders including top pros to share ideas. experiences and strategies for online trading, TradeKing invest in technology to provide you with the best trading experience including fast trade executions guaranteed to be at the National Best Bid or Offer or better,

Since establishing themselves as one of the first spread betting providers in the UK. , City Index have grown to a global company in over 50 countries completing over two million trades every month. City Index provide some of the most competitive spreads across thousands of markets including indices, shares, currencies, commodities and many more.

City Index have continued to innovate and were the first to provide a downloadable Android and iPhone app for spread betting and CFD trading and with over 30 years experience in the industry, you know you can trust Cityindex to handle your trades.

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

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Dukascopy or TradeKing?

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, TradeKing 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 TradeKing to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

Dukascopy is regulated by FINMA & FSA, while TradeKing is regulated by FINRA, Securities Investor Protection Corporation (SIPC).

City Index are also regulated by the Financial Conduct Authority.

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 TradeKing have been around for 14 years. Our third alternative broker, City Index, have been around for 36 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 TradeKing 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 TradeKing 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 TradeKing 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 TradeKing are based in 11605 N Community House Rd, Third Floor, Charlotte, NC 28277.

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 TradeKing 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. City Index, 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 TradeKing does not allow scalping or allow hedging. You can trade with EAs (expert advisors) on both Dukascopy and TradeKing.

In terms of risk management tools, neither Dukascopy or TradeKing 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 TradeKing charges points. Therefore, TradeKing 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 TradeKing?

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

Objectively, TradeKing is more reliable based on our criteria above. TradeKing has a wider range of instruments to trade. TradeKing 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.

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