CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Dukascopy

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Home » Reviews » Dukascopy

Dukascopy Review

Dukascopy is a forex and CFD trading broker. They provide traders with access to a wide range of products across many markets, including currencies, indexes, stocks, and exchange-traded funds (ETFs). Commodity traders can choose from a variety of energy, metals, and agriculture.

Pros

  • Segregates client funds
  • Established in 1998
  • Regulated by FINMA & FSA
  • Min. deposit from $5000

Cons

A minimum deposit of $5000 is required to establish a live account. Dukascopy, on the other hand, provides a demo account that you can use to experiment and become acquainted with their platform.

They are regulated by the Swiss Financial Market Supervisory Authority FINMA both as a bank and a securities firm. Dukascopy Bank fully owns Dukascopy Europe IBS AS, European licensed brokerage company based in Riga and Dukascopy Japan, a Type-1 licensed broker located in Tokyo.

They keep all customer funds in a separate bank account with tier-1 banks. Dukascopy has been in operation since 2004, with its headquarters in Switzerland.

Before we dive into some of the more detailed aspects of Dukascopy’s spreads, fees, platforms and trading features, you may want to open Dukascopy’s website in a new tab by clicking the button below in order to see the latest information directly from Dukascopy.

Visit Dukascopy

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

What are Dukascopy’s spreads & fees?

Dukascopy, like most brokers, charges a fee based on the spread, which is the difference between the buy and sell price of an item.

The commissions and spreads shown below are based on the minimal spreads available on Dukascopy’s website.

ForexDukascopyCity IndexXTB
EUR/USD(Average: 0.7 pips)0.1 pips 0.7 pips0.1 pips
GBP/USD(Average: 1.1 pips)0.9 pips1.7 pips0.1 pips
USD/JPY(Average: 1.1 pips)0.4 pips0.6 pips0.1 pips
AUD/USD(Average: 0.8 pips)1.1 pips0.6 pips0.2 pips
USD/CHF(Average: 2.3 pips)1.7 pips2.3 pips0.2 pips
USD/CAD(Average: 2.9 pips)1.1 pips0.5 pips0.3 pips
NZD/USD(Average: 3.6 pips)2.5 pips2.8 pips0.3 pips
EUR/GBP(Average: 2.4 pips)1.4 pips0.5 pips0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, the minimum spread for trading EUR/USD at Dukascopy is 1.8 pips, which is rather high when compared to the average EUR/USD spread of 0.70 pips. The table below compares the costs of trading one lot of EUR/USD with Dukascopy to similar brokers.

SEE ALL SPREADS

How much does Dukascopy charge to trade 1 lot of EUR/USD?

If you bought one standard lot of EUR/USD (100,000 units) with Dukascopy at an exchange rate of 1.1719 and sold it the next day at the same price, you would most likely pay $8.1. Here is a general breakdown of the fees and how they compare to IG and XTB.

DukascopyIGXTB
Spread from:$ 1.00$ 6.00$ 2.00
Commission:$0.00$0.00$0.00
Total cost of a 100k trade:$ 1.00$ 6.00$ 2.00
$5 more$1 more
VISIT DUKASCOPYVISIT IGVISIT XTB

All fees/prices are for informational purposes and are subject to change.

What can you trade with Dukascopy?

Dukascopy provides over various trading products, including over currency pairings. We’ve summarised all of the numerous types of instruments supplied by Dukascopy below, along with comparative instruments from IG and XTB.

FX / CurrenciesDukascopyIGXTB
# of forex pairs offered9048
Major forex pairsYesYesYes
Minor forex pairsYesYes
Exotic forex pairsYesYes
Cryptocurrencies*NoYesYes
Commodity CFDsDukascopyIGXTB
# of commodities offered3421
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalYesYesYes
Index & Stock CFDsDukascopyIGXTB
# of stocks offered80001606
UK sharesYesYesYes
US sharesYesYesYes
German sharesYesYesYes
Japanese sharesYesYesYes
SEE DUKASCOPY’S INSTRUMENTSSEE IG’S INSTRUMENTSSEE XTB’S INSTRUMENTS

Visit Dukascopy

What’s the Dukascopy trading experience like?

1) Platforms and apps

Dukascopy provides the well-known MT4 forex trading software. See our MT4 broker comparison for a list of the best MT4 brokers. Dukascopy also provides their own SWFX Trader platform.

Dukascopy now has mobile apps for Android and iOS, making it easier to monitor and execute transactions while on the go.

SEE DUKASCOPY’S PLATFORMS

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

Dukascopy allows you to perform a 0.01 Lot trade. This may differ based on the type of account you establish. The maximum trading requirements differ according to the trader and the instrument. Because Dukascopy provides ECN and STP execution, you may anticipate incredibly narrow spreads and greater transparency about the price you pay to execute your trades.

Dukascopy may have lower entrance criteria as a market maker than an ECN broker, which benefits from a higher volume of transactions and usually has higher capital and minimum trading requirements. Market makers generally have a lower minimum deposit, lower minimum trade requirements, and no trading commission.

Margin requirements, like those of other brokers, vary based on the trader, account, and instrument. The most recent margin requirements may be seen on their website.

Finally, we’ve included a list of some of the most common financing options available to Dukascopy traders below.

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Accounts offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • Islamic account

Funding methods:

  • Credit cards
  • Bank Transfer

3) Client support

Chinese, English, French, German, Italian, Japanese, Polish, Portuguese, Russian, and Spanish are among the languages supported by Dukascopy.

4) What you’ll need to open an account with Dukascopy

Due to the fact that Dukascopy is regulated by FINMA and the FSA, every new customer must pass a few simple compliance tests to verify that you understand the risks of trading and are permitted to trade. When you establish an account, you will most likely be asked for the following information, so have it handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.

While you may be able to browse their site immediately, it is crucial to note that you will not be able to execute any trades until you pass compliance, which might take several days depending on your circumstances.

To start the process of opening an account with Dukascopy you can visit their website here.

Dukascopy

Open a demo account

79% of retail investor accounts lose money when trading CFDs with this provider.

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