Dukascopy Review – Reliable Broker or Scam?

Dukascopy Review: Dukascopy is a Swiss-based ECN online broker regulated by FINMA, FCMC, and FSA (Financial Services Agency). It allows traders to access numerous stock exchanges via the MT4 and JForex platforms. This broker offers an excellent range of share CFDs with competitive commissions. Overall, theDukascopy expert reviews TraderFrancophone and customers of this broker is positive. So, can we trust Dukascopy? YES.

Who is Dukascopy?

Dukascopy is a Swiss financial group founded by Dr Andre Duka and Veronika Duka. Although it was in 2004 that the activities of the broker actually started, the project was launched in 1998 by Dukascopy Trading Technologies Corp.

At the base of this initiative, a group of physicists with an ambition: to use state-of-the-art statistical and economic tools for the creation and development of complex financial systems. It was in 2004, after years of work, that trading activities could start for this operator.

Dukascopy trading offers state-of-the-art technological solutions to the finance industry. It is in this context that the SWFX-Swiss FX Marketplace was launched in 2006. Continuing in its momentum, Dukascopy applied for a banking license in 2009 and obtained it a year later. This is issued by the Swiss Federal Financial Market Supervisory Authority (FINMA).

In 2011, a new subsidiary joined the group's portfolio: Dukascopy Europe IBS AS. Wholly owned by the Dukascopy SA bank, Dukascopy Europe is the company in charge of the trading activity specifically in the group. She is based in Latvia, precisely in Riga.

Still in the trading sector, the Dukascopy group is also present in Japan, with its subsidiary Dukascopy Japan, after the acquisition of Alpari Japan. The Dukascopy group has, according to its figures, nearly 300 employees with offices in Geneva, Zurich, kyiv, Tokyo, Hong Kong, and Kuala Lumpur.

Dukascopy in a Few Key Figures

To make a summary of this Dukascopy review: here is a summary table that presents the key figures and information relating to this online broker.

Dukascopy: Market Maker Broker or ECN?

Dukascopy bank acts in the trading industry as an ECN broker. On its own SWFX marketplace, Dukascopy manages to connect clients directly with liquidity providers, thanks to the networks of financial institutions connected to it: Commerzbank, Nomura, Currenex, Deutsche Bank, JP Morgan, UBS, Goldman Sachs , Hotspot, Morgan Stanley.

Moreover, we see in the context of this Dukascopy notes that the broker does not include spreads in its fee schedule, only commissions. Spreads are absent because they are the primary method of compensation for market maker brokers, not ECN brokers.

Dukascopy France, does it exist?

France is a booming market when it comes to online trading. Several brokers likeAvaTrade have a site and a specific offer for the French market.

This is not the case for the broker that we are analyzing here. Our investigations for this Dukascopy review reveal to us that there are no Dukascopy sites or offices in France or for France specifically. French investors benefit from the same offer as all other Dukascopy clients in Europe.

Dukascopy: Broker AMF?

In France, the Financial Markets Authority is the regulatory body for the activity of the various financial market players. It controls and regulates investment companies established in its territory, in order to protect the interests of investors and guarantee the proper functioning of the markets.

Regarding Dukascopy, we cannot consider that it is an AMF broker. Its activities are not directly regulated by the AMF. Not being based in France, it does not fall directly under its jurisdiction. Dukascopy does not hold any license or other recognition from the AMF.

However, since Dukascopy services are accessible in France, the AMF monitors them like those of all brokers available to French people. To this end, the AMF draws up a blacklist, on which are listed the brokers that it considers dangerous for investors.

Awards Received by Dukascopy

Operators in the FinTech sector and financial services in general receive several awards. They are provided by independent bodies, financial journals or professional associations.

These awards can crown the excellence of investment companies in various fields, according to geographical and/or qualitative criteria. This is an important signal on the quality of a broker's offer.

Dukascopy has since its creation received several awards, which we now list in this text of analysis andreviews on Dukascopy.

Types of Accounts Offered by Dukascopy

The Dukascopy trading offer is different from that of most of its competitors. Indeed, there are only 2 types of account offered at Dukascopy, the Forex/CFD ECN account and the managed accounts. In these 2 main categories, we can observe variations related to the way in which the accounts are used.

The Forex/CFD ECN Account

Here, the account characteristics can be modified by:

• The platform used: depending on the platforms used, certain conditions may change.
• Account subscription method: the Dukascopy account can be subscribed directly to Dukascopy Europe, a trading and trading subsidiary, or to Dukascopy Bank.
• The geographical location of the customer, with differences between Swiss residents and other customers.
• Currencies accepted

Accounts are opened at Dukascopy in the following currencies:

• US Dollar (USD)
• Swiss franc (CHF)
• Euro (EUR)
• British pound (GBP)
• Australian Dollar (AUD)
• Canadian dollar (CAD)
• Offshore Chinese Yuan (CNH)
• Czech Koruna (CZK)
• Danish Krone (DKK)
• Hong Kong Dollar (HKD)
• Hungarian Forint (HUF)
• Israeli Shekel (ILS)
• Japanese yen (JPY)
• Norwegian Krone (NOK)
• Polish Zloty (PLN)
• Romanian leu (RON)
• Russian Ruble (RUB)
• Swedish Krona (SEK)
• Singapore Dollar (SGD)

To open an account, the minimum deposit is USD 100 if you open an account with Dukascopy Europe, and USD 5 if you open a Dukascopy Bank account. But it should be noted that Swiss residents can open a Dukascopy Bank account for less than USD 000.

• Services offered

The information collected for this Dukascopy review shows that the services related to your account at Dukascopy vary depending on the size of your account.

Thereby :

1. From $100 USD up to $5 USD, you get access to Dukascopy's proprietary SWFX technology and JForex API
2. From 5000 dollars to 100 dollars, your avantages remain the same as for the previous tranche.
3. From $100 to $000, in addition to access to Dukascopy's proprietary SWFX technology and JForex API, you have the FIX API and bank guarantees.
4. Accounts over $250 benefit, in addition to the other elements mentioned above, from the services of a custodian bank.

• Lot sizes and market hours

We now discuss in our Dukascopy review practical information directly related to trading operations. The orders that you can place with Dukascopy have a minimum size: 1 units in the base currency of the financial security traded.

That said, several instruments have minimum sizes set specifically for the lots to be traded:

• 1 contract for CFDs
• 10 contracts for USTBOND.TR/USD
• 10 contracts for SUGAR.CMD/USD
• 50 units (ounces) for silver
• 1 unit (ounce) for gold
• 400 contracts for SOYBEAN.CMD/USX
• 600 contracts for COTTON.CMD/USX
• 20 contracts for COPPER.CMD/USD
• 1 contract for CFDs on indices and shares.

Regarding market hours, most of the financial instruments available at Dukascopy trading are available for trading 24 hours a day during market opening. It is open :

• From Sunday 21:21 GMT to Friday XNUMX:XNUMX GMT during daylight saving time.
• From Sunday 22:22 GMT to Friday XNUMX:XNUMX GMT during winter time.
• Market Interruption and Special Trading Conditions

Some securities see their listings temporarily suspended. This is particularly the case:

• Gold (XAU/USD) and silver (XAG/USD), from 17 p.m. to 22 p.m. (plus one hour in winter) and during US national holidays.

• USD/RUB and EUR/RUB Forex pairs from 20 p.m.: 50 p.m. to 7 a.m. It should also be noted that during Russian national holidays, the trading conditions for these instruments deteriorate significantly (sporadic prices / low liquidity / no temporary or total price).

Also, liquidity is reduced during off-market hours. This may lead to an interruption of trading and special conditions on the following instruments: USD/PLN, EUR/PLN, EUR/TRY and USD/TRY. It will mainly be higher maximum spreads.

Finally, we note that all these securities subject to special trading conditions are only available to individual traders who manage their accounts themselves.

Managed Accounts

At Dukascopy, you have the option of delegating the management of your capital to be invested. This solution allows you to benefit from the profitability of financial investments even passively and without needing to be a trading expert.

With managed accounts, you have two options: either your capital is managed directly by the Dukascopy broker, or your funds in the account are managed by an external agent.

• LP PAMM accounts

The LP PAMM account is an account that is managed entirely by Dukascopy. It can be likened to an asset management tool. The principle is that through the trader who holds your capital, you act as a liquidity provider on the SFXW market.

You thus have the opportunity to benefit directly from the profits made by the broker. The broker offers the holder of the LP PAMM account half of the spread on the transactions carried out.

In this Dukascopy notice, we would like to point out that LP PAMM accounts are exposed to risks, in particular that of capital loss, the most important for liquidity providers.

Dukascopy trading claims that over a year, the risk of negative performance is 13%. In addition, PL PAMM accounts can also be equipped with stop-losses, with a setting at a certain threshold to protect the capital.

Under certain conditions, the costs borne by the account can be reimbursed. Thus, if you have kept your investment for 260 days of investment and without making any withdrawals, then you can benefit from refunds of costs capped at your losses over the period.

In detail, the LP PAMM account is governed by various conditions:

1. The minimum deposit for opening the account is 1000 euros, and must be accompanied by a management mandate.

1. The maximum deposit is at the discretion of Dukascopy trading.

1. The base volume commission (related to Forex trading) ranges from $0 to $25 per $1 million traded. Volume commissions on precious metals and CFDs are indexed to those of the foreign exchange market.

1. The LP PAMM account is subject to overnight fees
2. The holder of an LP account may at any time suspend the investments made on his account. It has a button for this purpose, which allows it to exit from all engaged positions.

• Externally managed accounts

Dukascopy allows its customers to open accounts and entrust their management to third-party persons or organizations. The account aims to maximize the potential return on capital while protecting the client. It should be noted that the responsibility for choosing the manager rests entirely with the client.

Currencies are the only securities available to all holders of externally managed accounts. Gold and silver can be added to the financial instruments available, only on request.

Here are the main tools and features of managed accounts at Dukascopy:

1. Choice of the base currency of the account to protect against a potential devaluation;
2. Choice of depository institution;
3. Ability to immediately block trading on his account;
4. Ability to place stop-loss orders;
5. Detailed activity reports, allowing the client to monitor the activity of the manager on his account.

The Islamic Account

Dukascopy actually offers a trading account that complies with Koranic laws: the swap-free account or Islamic account. This account therefore bears no swap or rollover fees (nor does it grant swap fees).

As is the case for the halal accounts of the best Islamic brokers, the holders of this account are neither credited nor debited with interest charges for their positions which would have remained open at the end of the day (21 p.m. GMT time). summer, 22 p.m. GMT winter time).

It should nevertheless be specified in this Dukascopy notice that the broker has implemented some protective measures against people who would like to misuse this swap-free account.

These include, for example, charging the Islamic account a fee of $7,5 per $1 million for CFDs and precious metals, and $5 per $1 million for currencies. These fees are in addition to the standard commissions paid on transaction volumes.

In addition, note in this complete Dukascopy review that the swap-free account of this broker can be activated or deactivated freely by each trader. Just go to “account” then “rollover policy” from their trading platform.

Dukascopy Demo Account

It is possible to trade in demo mode with Dukascopy. The Dukascopy demo account allows you to test the functionalities of the platforms and the trading conditions of the account in order to be able to trade in complete control of the thing.

In this Dukascopy review, we strongly recommend that you start with the demo account with this broker. The latter has a proprietary trading platform for its operations, with advanced trading features.

To open a demo account with Dukascopy, all you have to do is make a request by providing your name, telephone number and email address. You will then need to make some settings:

Account language

The platforms on which you will have the demo account(s)

The default setting to accept or reject.

The trial duration of the Dukascopy demo account is 14 days. Although interesting, this duration is much less than that offered with the demo account of Vantage (30 days, and unlimited duration when you open a real account), or with the Axi demo account (30 days).

For what type of account do we recommend Dukascopy in 2025?

Dukascopy accounts have specific features that do not allow them to satisfy all customers. Each of the account types of this Switzerland-based broker hasvantages worthy of interest: the low minimum deposit for the Forex/CFD ECN account, or the guarantees of the LP PAMM account.

Only, in view of the information collected as part of this Dukascopy review, here are our recommendations for the type of account to open with this online broker:

• The LP PAMM account is the one we recommend for those who are new to trading. Although the minimum deposit is quite high, it offers several guarantees and protection measures against capital loss. Thus you will have the opportunity to benefit from returns on financial investments without having the skills or the time necessary to manage an online trading account.

• For more savvy online trading enthusiasts, a Forex/ECN account on MT4 is more suitable. The minimum deposit limits the risk and the number of financial securities available is more extensive than on other accounts such as the account managed externally.

Dukascopy: Which Regulations?

The trading sector is subject to regulation in all regions. This is the case for the financial sector in general, but even more so for trading activities, given their complexity, the dynamism of the actors, and the informational asymmetry existing between the actors.

Thus, all brokers must hold licenses issued by authorities that control them and guarantee that the broker acts in accordance with the rules that govern its activity.

Dukascopy is currently regulated by the Federal Financial Market Supervisory Authority (FINMA), the regulatory body for the financial industry in Switzerland. The latter granted him a banking and broker license.

Also, Dukascopy is regulated by the FCMC (Financial and Capital Market Commission), the regulatory body for financial markets in Latvia. Thanks to the control of these recognized regulatory bodies, Dukascopy has the legitimacy to offer its services throughout Europe.

This broker is also regulated by the Financial Services Agency of Japan (JFSA). But there is no regulatory link between Dukascopy and the FCA (Financial Conduct Authority), since this authority does not really regulate this broker.

However, we have noticed during the development of this Dukascopy review that this broker mentions the FCA as a monitoring / regulatory entity in its useful hyperlinks section, which does not necessarily mean that it is regulated by this authority.

Scams with Dukascopy?

It is possible to come across scams when you want to trade online. It is therefore necessary to be careful and attentive to certain details, such as obtaining by the broker a license issued by a financial market regulatory body.

Our Dukascopy opinion will return to this aspect (importance of broker regulation) later in this article. Dukascopy is indeed a regulated broker. Several regulatory bodies control trading activities carried out under the Dukascopy brand, notably those in Switzerland and Japan.

It is a guarantee on the conformity of the Dukascopy offer with the regulations in force. Moreover, this brokerage firm is 100% owned by a Swiss bank, Dukascopy Bank. This guarantees it greater financial solidity and more credibility.

Nevertheless, it is possible that this brand was associated with a scam in 2019. A site at dukas-broker.ru used the Dukascopy brand to deceive investor clients by impersonating the Swiss broker. This clone scam was spotted and denounced by Dukascopy. This incident is therefore not representative of the reliability of the trading company.

Dukascopy: What Protection for Client Funds?

Online traders receive funds from their clients. They are therefore responsible and must protect them from any risk not emanating from the trading activity. According to the information collected for this Dukascopy review, this broker meets these requirements. Indeed, the directive relating to compensation systems (Directive 97/9/EC) applies to all brokers regulated in Europe, including Dukascopy. It guarantees for each client compensation of at least 90% of any loss on financial instruments suffered due to a failure of the broker in offering its investment services. This compensation can reach a value of 100 euros.

Dukascopy customers benefit from additional protection. Indeed, Dukascopy Europe, a subsidiary of Dukascopy Bank, keeps its customers' deposits in its parent company. In the event of bankruptcy of the latter, the money coming from the accounts of Dukascopy trading clients will be reimbursed as a priority, up to 100 CHF. In addition, the Dukascopy company has canceled the existence of negative accounts. Your losses therefore cannot be greater than the balance of your investment account.

Other measures also contribute to the protection of the funds of the clients of the online broker Dukascopy:

• Separate management by Dukascopy of its own funds and funds belonging to its clients.
• The ability to use a stop-loss feature on PAMM accounts. Thus, even if your account is managed by an external operator, the stop-loss order will be executed if necessary to protect your funds.

Dukascopy: What Security for Data and Transactions?

Online trading activity involves the circulation of a large amount of information between the broker's servers and traders. This is sensitive information affecting the privacy and especially the financial resources of the online broker's clients.

At Dukascopy, this information is protected in several ways. Dukascopy bank has implemented an application called Dukascopy Connect. The latter makes it possible to secure access to a customer account with identification by video. It is one of the most reliable means of security.

In the context of PAMM accounts, Dukascopy recommends that its clients do not provide their access to their external managers. The broker's contractual policy prohibits doing so, in order to protect clients' funds. Dukascopy is responsible for getting in touch with external managers to provide them with specific access in accordance with the mandates they receive from their clients.

All operations on Dukascopy trading platforms are protected by an SSL computer encryption system. They are therefore protected from any intrusion.

Why Trade with a Regulated Broker?

Online trading is a growing and highly innovative industry. It provides global access to a large number of financial centers and financial securities. Brokers target a wide audience, and generally do not have the ability to analyze their offers in a detailed way.

To choose from the large number of online broker sites, it is important to be able to ensure that the online broker you choose offers a certain number of guarantees: transparency, legality or even performance.

This is why it is necessary to invest in brokers who are controlled by regulatory institutions. Our Dukascopy review now presents the reasons for the need to trade with a regulated broker.

Transparency and Data Protection

Choosing a regulated broker allows you to benefit from better transparency. Regulators are always aiming for more efficiency and fairness in the markets. To do so, they ensure that the broker provides its clients and potential clients with all the information necessary to make their choice clear. This obligation to inform covers both the company itself and its offer.

Also, a regulated broker will also be more inclined to protect your personal data. Since regulators also carry out a mission of public interest, they control the brokers under their authority to ensure that the use of data does not go beyond the framework of operations linked to trading, and that this use complies with the regulations in force. vigor.

Scam Protection

In sectors of the Internet economy that have strong appeal, there are often scams. While the Internet makes it possible to cancel out the effects of the physical distance between supply and demand, it also reduces the customer's ability to distinguish real players from scammers. This observation is also true in the context of online trading.

Several scenarios can be encountered:

• Companies operating in online brokerage without having the necessary skills and resources. They represent a higher risk for customers;

• Companies whose offers are constructed with unfair offers to create an irregular profit from the funds invested by the customers;

• Or even brokers who have irregular privacy policies that expose their clients to many dangers.

A regulator ensures that the broker is a professional who has the necessary know-how and resources. It also guarantees the security and confidentiality of the data stored and exchanged with its clients as part of the trading activity.

Dispute Resolution and Investment Protection

One of thevantages of investing with a regulated broker is to benefit from fair arbitration in the event of disputes. Indeed, although brokerage companies serve their clients, it can happen that their interests are not always perfectly aligned. Or even that one of the actors, brokers or traders takes actions that are contrary to the contractual clauses of the investment service.

Regulators generally have arbitration mechanisms to deal with disputes between a broker and its clients. The latter can therefore be certain of being protected in the investment relationship.

This protection will also extend to funds invested by clients. Although trading activity is inherently risky, the trader should not be exposed to loss or damage originating outside of their own market activity.

In the event of the broker's insolvency, the funds entrusted to it are insured up to a certain level.

Deposits and Withdrawals at Dukascopy

Dukascopy trading offers several solutions so that its customers can fund their account or make withdrawals. Only, we can see that Dukascopy PayPal is not available (the PayPal payment solution is not available on Dukascopy).

deposits

Regarding deposits, your Dukascopy account can be funded in 4 ways:

• By bank transfer. If you deposit via bank transfer, your account will be credited within 24 to 48 hours. A wide range of currencies are accepted: USD, CHF, EUR, GBP, CAD, CNH, CZK, HKD, HUF, ILS, JPY, NOK, PLN, RON, RUB, and SGD.

• Payment card. This method is faster than bank transfer. Your deposit will be processed by Dukascopy Europe within one business day. It is subject to certain conditions:
  • • No deposit from third parties. Only cards registered as belonging to Dukascopy customers can make deposits.
    • Card deposit limit is 18 USD or currency equivalent.
    • Credit cards accepted at Dukascopy: MasterCard and Visa. Debit cards accepted: Visa Electron and Maestro. The cards issued by Dukascopy Bank are also compatible with Apple Pay and Samsung Pay.
    • Card deposits do not bear any fees charged by Dukascopy. Bank commissions are deducted by the bank: 1,2% of the amount of the transaction in EUR, GBP or CHF; 1.5% for transactions in NOK, CZK, PLN or SEK; 2% for transactions in USD and 2,3% for transactions in RUB, JPY and CAD. Any other currency may incur additional charges.

• Bank guarantees. This financing method allows you to fund your Dukascopy trading account while maintaining maximum liquidity. Bank guarantees can be issued starting from $100,000 and can fund multiple Dukascopy accounts, provided that all of them belong to the owner of the account to which the guarantee is attached.
• E-wallets. Skrill and Neteller are the two e-wallets you can use to fund your account. Dukascopy fees are 2,5% for Skrill. For Neteller, they are €1 for deposits under €40 and 2,5% for deposits over €40.

Withdrawals

Withdrawals of funds from your Dukascopy trading account can be made with the same payment methods used for deposits.

• Withdrawals by bank transfer incur fees. These vary depending on the currency requested for the withdrawal: EUR 20 / USD 50 / GBP 15 / AUD 30 / CAD 30 / CNY 150 / CZK 500 / DKK 150 / HKD 180 / HUF 5500 / ILS 70/2500 JPY / 350 MXN / 180 NOK / 30 NZD / 80 PLN / 80 RON / 1800 RUB / 170 SEK / 30 SGD / 65 TRY / 280 ZAR.

• On bank cards, the Dukascopy fee will be 1,5 euros plus 2,5% of the withdrawal amount.
• With the Skrill e-wallet, the fee is 2,5% of the total amount. For Neteller, the customer pays 1 euro for amounts lower than 40 euros, and 2,5% of the amount for higher amounts.

Commissions, Spreads and Fees at Dukascopy

Our Dukascopy review now presents the various fees, commissions and spreads at Dukascopy. The commissions, fees and spreads applied by Dukascopy on trading operations are different depending on whether it is a Forex/CFD ECN account managed by the client or a PAMM account managed by an external agent.

Trader Managed Account Commissions and Spreads

In this case (account management by the client), the only commission charged is a volume commission on trading operations. Its rate depends on several variables:

• The net amount in the account: deposit net of withdrawals;

• The instruments traded;

• The method of funding the account.

It should be noted that if different rates are obtained according to these different parameters, Dukascopy undertakes to apply the lowest rate. The calculation is made at the end of the session to be applied the next day and cumulatively if a trader has several accounts.

Commissions and Spreads on Accounts Managed by a Third Party

Fees for agent-managed accounts vary, being capped at US$75 per million USD processed. These commissions are converted into the currency used for the account, at the broker's spot price, with an increase of 0,1%. Islamic or swap-free accounts incur additional commissions:

• USD 5 per USD 1 million of currency exchanged;
• 7,5 USD for 1 million dollars of CFDs and precious metals traded.

Other Dukascopy Fees

Opening and closing an account is free at Dukascopy. Account maintenance is also free for one year. Once this period has passed, the account remains free provided you carry out at least one trade with Dukascopy on the SWFX over the last 183 days.

If this condition is not met, then an account maintenance fee of 20 euros is deducted every 182 days as long as no position is taken. The maximum account maintenance fees are 40 euros per year and per client.

The following table in this Dukascopy review provides an overview of a few other fees charged by this broker.

Comparison of Dukascopy Commissions with Other Brokers

For a more complete analysis, our Dukascopy review will compare the commissions of this broker with those of other online brokers.

• Dukascopy vs. IC Markets Commissions

If we stick only to Forex, which remains the largest market in terms of volume, the spreads applied by the broker IC Markets are as follows:

EUR/USD: 1.1
GBP/USD: 1.4
USD/JPY: 1.2
AUD/USD: 1.2
USD/CAD: 1.5
USD/CHF: 1.5
AUD/CAD: 1.8
AUD/CHF: 1.8
AUD/JPY: 1.4

These are the average standard account spreads. We realize that the volume commissions charged by Dukascopy are lower than the spreads of IC Markets.

Indeed, on Dukascopy accounts, the maximum commission is 35 US dollars per million USD traded. Whereas with IC Markets, on major currencies like GB/PUSD or USD/CHF, the spread costs amount to 140 USD and 150 CHF respectively for a trading volume of one million units.

• Commissions Dukascopy vs. Swissquote

Swissquote is a Swiss investment company which also offers the possibility of opening accounts for trading on the financial markets. It is therefore a direct competitor of Dukascopy, especially on Forex where Swissquote has a dedicated offer called eForex.

Swissquote does not charge commissions, but charges a spread that ranges from 1,1 to 1,7 pips. By comparing it to Dukascopy's volume commissions, we also realize that Swissquote is more expensive.

Accessible Markets with Dukascopy

Through its parent company Dukascopy bank, Dukascopy trading enables its clients to trade securities globally. The stock markets accessible to Dukascopy clients are spread over several continents:

• Austria
• Belgium
• Denmark
• Finland
• France
• Germany
• Hong Kong
• Japan
• Netherlands
• Norway
• Portugal
• Spain
• Sweden
• La Suisse
• The United Kingdom
• United States

Financial Products Offered by Dukascopy

By opening a Dukascopy account, you have the opportunity to trade a wide range of financial instruments. We will review them in this part of our Dukascopy review.

Raw materials

Among the securities available to traders, we naturally find petroleum products (heavy, light, gas), ores such as copper, but also basic products such as cocoa, cotton or even soybeans.

The clues

Indices are synthetic securities, which reflect the performance of a set of other securities. With this broker, you trade stock market indices of the most important places in America, Europe and Asia.

Indeed, you have access to Dukascopy DAX 40, Dukascopy Nasdaq or SP 500 Dukascopy. In all, you have around twenty clues, including:

• The Australia 200 Index (AUS.IDX/AUD) which includes the 200 largest Australian companies.

• Spain 35 Index (ESP.IDX/EUR): index of the 35 largest Spanish companies

• EU Stocks 50 Index (EUS.IDX/EUR) of the 50 largest European companies.

• Hong Kong Index (HKG.IDX/HKD) of the largest companies

• Germany 30 Index (DEU.IDX/EUR) of the 30 largest German companies

• France 40 Index (FRA.IDX/EUR) of the 40 largest French companies.

The obligations

The bond market is one of the largest in terms of volume. These are (bonds) debt securities issued by companies or States. Dukascopy lets you buy and sell 3 top-rated government bonds:

• German government bonds (BUND.TR/EUR)
• UK Government Bonds (UKGILT.TR/GBP)
• US Treasury Bonds (USTBOND.TR/USD)

Share CFDs

Shares are the best-known instruments in the financial markets, certainly because they are securities that simply represent property rights in companies.

On Dukascopy, you do not directly trade shares of companies, but CFDs on shares. These are derivative products that allow you to take a position on rising or falling stocks, without however holding these stocks in your portfolio.

Hundreds of CFDs are available on the different places to which Dukascopy has access. Among the shares of the best known companies, we can mention those of: Airbus, Orange, L'Oreal, Barclays, British American Tobacco, or Mastercard Inc.

ETFs

ETFs are also synthetic securities like stock indices. However, these are investment funds whose shares are traded on the markets like securities. An ETF is intended to replicate the performance of a series of other financial securities (usually stocks). Often these are securities of companies belonging to the same economic sector.

ETFs traded on Dukascopy all come from the US market. In all, you can trade around forty ETFs in different sectors such as:

• Real Estate (iShares US Real Estate ETF)
• Biotechnology (iShares Nasdaq Biotechnology ETF)
• Health (Health Care Select Sector SPDR Fund)
• Luxury (Vanguard FTSE Europe ETF)
• Oil & Gas (SPDR S&P Oil & Gas Explor & Prodtn ETF)

Dukascopy: Which Levers?

Leverage is generally found on derivative products such as futures or CFDs. Leverage will increase the level of risk exposure as well as likely profitability, because it allows you to take larger positions than your capital would normally allow.

The broker defines its levers differently depending on the types of accounts and the securities traded. At Dukascopy trading, each client can track the level of possible exposure with a “Total trading line” on their dashboard. It simply displays the product of the capital in the account by the level of leverage available.

• With Forex, leverage is set by default to 1:100 during normal trading hours, and 1:30 on weekends. On minor currencies, it is usually 1:30 on weekdays, and 1:10.
• For precious metals, it is 1:30 for silver, and 1:50 for gold. Outside normal trading hours, it stands at 1:30 for both securities (gold and silver).
• On commodity CFDs, the leverage is 1:30.
• For index CFDs, the leverage is 1:50 during normal trading hours, and 1:30 on weekends (except HKG.IDX/HKD at 1:10).
• With bond CFDs, leverage of 1:30 invariably applies.
• For CFDs on shares and CFDs on ETFs, the leverage is set at 1:10.

Dukascopy Trading Platforms

The trading experience is influenced by the broker's offer in terms of financial products and services and its billing policy as we have seen in this Dukascopy review, but also by the platforms used. Dukascopy trading allows you to trade via 2 main platforms: JForex and MT4. We therefore note from the outset that there is no MetaTrader 5 at Dukascopy.

Dukascopy Metatrader 4

MetaTrader 4 is one of the most popular platforms among online brokers and traders. Even with the release of MetaTrader 5, many still prefer it. The table below summarizes what Dukascopy MetaTrader 4 offers with an FX account.

The commission charged by Dukascopy on MT4 is 1 USD per lot on MT4. It is in addition to the standard commission (presented in the table below of this Dukascopy review), which depends on the capital and the volume of transactions (over the last 30 days and calculated in USD).

The default leverage is 1:100. It applies to each MT4 account and cumulatively to all Dukascopy MT4 accounts belonging to the same client. Thus, Stop-loss or Take-profit orders will be rejected if they result in a higher level of exposure than the leverage allows them to access.

Also, the margin level is automatically managed by MT4. This ensures that the account balance remains sufficient to support all open positions.

The calculation is made in real time according to the formula: Margin Level = (Capital / Used Margin) x 100

Dukascopy MT4 accounts bear overnight fees. So you cannot open Islamic / swap-free / swap-free accounts on MT4.

On MT4, you have a series of tools and reports to analyze your portfolio and adjust your investment strategies. We can cite :

• My account: a basic interface for your account(s). Here you will find your balance at the end of the session, your foreign currency capital, and the various transactions of the day.
• MT4 Reports: a summary report that presents day by day the value, movements, open and closed positions.
• Portfolio status: daily balance and details grouped by currency pair.
• Consolidated report: a summary of key information from your account over a period of your choice.
• Commission policy: information on your transaction volume, exchange commissions, etc.
• SWFX Sentiment Index: a tool linked to the proprietary SWFX platform. It provides a concise overview of the general market situation. The SWFX Sentiment Index is updated every 30 minutes.

JForex

The second platform available on Dukascopy is called JForex. This platform is available on all media (computers, tablets, smartphones). You can download it or access it through your browser, although the web version has fewer features.

It is designed to meet the needs of experienced traders. Indeed, it emphasizes graphical tools, comprehensive information (technical analysis), and trading automation.

JForex offers the trader more than 250 charts and tools, as well as a wide range of orders (Market, Limit, Stop, Take Profit, Stop Loss, Stop Limit, Trailing Stop, Place Bid/Offer, OCO, IFD).

In addition, it gives access to features such as:

• The possibility of integrating new plugins, therefore of customizing the tools available according to the needs and the investment strategy.
• An economic calendar featuring economic news and agenda
• The possibility of practicing scalping and hedging
• VPN services and the cloud to keep investment strategies running around the clock.
• An automated trading history tester.

It should also be noted that JForex is available in about twenty languages.

Dukascopy Mobile App

The JForex mobile application is available on iOS, Android, and Windows Phone. It allows rapid access to markets. A smaller selection of tools allows the trader to react to market movements at any time.

You can follow your Stop-loss and Take-Profit levels, or even add your favorite Forex pairs or CFD securities to your screen, to follow the evolution of their prices in real time.

Among the various features of the JForex application listed in this Dukascopy review, we can mention:

• Secure and permanent connection with the broker's servers
• Immediate execution
• Wide selection of orders
• Access to trading reports
• Automated trading
• Live chart with technical analysis
• Currency Market News
• Economic Calendar
• Dukascopy tv
• Daily peaks (maximum and minimum)

pivot points

It should also be noted that Dukascopy bank customers also have an application: Dukascopy Connect 911. The latter allows a secure connection to your account and gives access to several banking services such as currency exchange.

Our Analysis of Dukascopy Platforms

The two platforms of Dukascopy, MT4 and Jforex, come with different features. Even if its variations may vary according to the brokers, MT4 is a safe bet for online trading.

Dukascopy's MT4 is a platform suitable for all traders. The easy-to-use interface, the choice of account and deposit currencies, and a wide choice of orders make it easy to get started with the platform. The automatic monitoring of the margin level contributes to better risk management, as does the Stop Loss order up to 50%.

The analysis tools allow an intermediate level trader to analyze the market and make trade-offs easily. We can however regret the imposition of additional commissions, in addition to the commissions applied to the standard FX account.

Dukascopy's second platform, JForex, is more technical. It is more suited to experienced traders, as it offers them an environment for high-level trading. Compatible with all devices, featuring a multilingual interface, cloud and VPNs, JForex has all the tools for traders who operate globally.

In addition, automation is possible and makes it possible to set up effective and functional investment strategies 24 hours a day. Finally, the JForex platform has a wide choice of orders, analysis tools and graphs to conduct the most exhaustive studies in the development of strategies.

JForex is a platform that the trader can customize as he wishes, and it allows the integration of plugins. It is an excellent tool for professional traders.

To complete this review on Dukascopy platforms, we will compare Dukascopy to other online brokers, relative to their platforms.

• Dukascopy vs. Swissquote

Both brokers have specific platforms, respectively JForex and Swissquote Advanced Trader Platform. They have in common the fact of being API compatible.

JForex is more complex than the Swissquote platform. It has almost 10 times more indicators than Swissquote Advanced Trader Platform. We note that Bloomberg is directly integrated into the latter.

The Swissquote platform has an advantage that makes it a better option for budding traders: automatic pattern detection, which identifies possible cycles or repetitive patterns for relevant analysis.

• Dukascopy vs. Saxo Bank

Although they are 2 brokers linked to banks, the offers in terms of platform offered by Dukascopy and Saxo Bank are quite different. JForex and MT4 are the only platforms on Dukascopy, while Saxo Bank offers a very wide choice of platforms for its clients. It offers 3 proprietary platforms, including Saxo Investor, Saxo TraderGo and SaxoTraderPro. It also provides access to third-party platforms.

This hasvantage of Saxo Bank on Dukascopy allows each customer to have an experience adapted to their needs. Saxo Investor, for example, was designed with the broker's clients to offer them maximum ergonomics, while SaxoTraderPro offers a complete range of tools for high-level trading.

• Dukascopy vs eToro

Both brokers have developed proprietary platforms. However, eToro exclusively uses its own platform, no MT4 or MT5. It is much more ergonomic than those of Dukascopy.

The demo account credited to the tune of $100 or even one-click trading are avantages of the platformeToro. The other important differentiator is the excellent social trading offer accessible on the platform.eToro.

• Dukascopy vs. Tickmill

The Tickmill broker offers an offer very similar to that of Dukascopy in terms of platform. Both online brokers offer MT4. Tickmill's MT4 platform supports fewer charting tools than Dukascopy's MT4, but remains quite easy to use, especially with its One-click functionality which allows you to trade directly on a chart.

Both platforms have a VPN for 24-hour effective investment strategies, but Tickmill additionally has copy trading functionality.

Order Types and Execution

Dukascopy trading offers its clients the services of an ECN broker. On its marketplace, client orders are matched directly with major liquidity providers, including major European and American banks.

This guarantees extremely fast execution even for high amounts, and very high market depth.vantageworn.

The types of orders found are therefore:

• Working order ;
• Closing the order (closing order)
• Market order with slippage;
• Conditional closing;
• Pending orders entry limit;
• MIT Entry Order;
• Take profit order;
• Stop Loss Order
• Orders Place bid.

Analysis Tools Offered by Dukascopy

On the various Dukascopy platforms, traders benefit from a wide range of tools to enable them to monitor market developments and create investment strategies.

However, there are variations, with each platform not offering exactly the same tools as the others. As we have seen earlier in this Dukascopy Review, JForex is a suitable platform for experienced traders, while Dukascopy MT4 is accessible to all investors, regardless of their level of experience.

JForex Tools – Computer Application

On this version of the platform, you benefit from all the power of JForex: charts, additional plugins or automatic trading.

These tools allow you to:

• To follow on customizable graphs the evolution of the best Bid/Ask price on the securities you choose. These charts include Renko, Kagi or Line Break type charts.
• To set the maximum risk exposure to protect your portfolio against an extreme price drop.
• To benefit from a real-time two-level price quotation, with 10 levels on each side. The trader can thus determine where the most orders are concentrated.

JForex Tools for the Web

This version of JForex is lighter. Thanks to JForex Web, you access the market regardless of the device you use.

You have :

• A synchronized workspace. Thanks to the cloud, your account and the graphs you follow are always present, even if you change terminals.
• An economic calendar that measures the impact of economic and financial news on financial securities.
• Monitoring your net exposure, to control risk.

JForex Tools for Mobile

JForex is a mobile app. Its purpose is to allow the trader to follow market movements in real time. The functionalities of this platform are essentially aimed at providing traders with means of rapid reaction:

• Monitoring of take profit and stop loss orders as well as prices
• Synthetic analysis tools
• Daily monitoring of your favorite financial stocks

Tools and Widgets in General

Without taking into account the specific tools for each platform as presented above in this Dukascopy review, here are all the widgets and analysis and trading tools offered by Dukascopy:

• Online charts: analyzes historical and live quotes for Forex, CFDs, etc.
• Dukascopy TV: provides access to Dukascopy videos on economics and finance.
• Online news: provides access to news and reports from approximately 500 operators and in at least 20 languages.
• Technical indicators: displays trading signals based on popular technical indicators for Forex, CFDs, etc.
• Calendars: economic calendar, public holidays, dividend adjustment, trading breaks, CFD adjustment, and central bank interest rate table.
• Currency index: compares the most liquid currencies.
• Market summary: aggregates information on spreads, latest quotes, market sentiment, etc., for many instruments.
• Market signals: alerts on significant price movements and certain indicators for Forex.
• Currency converter: converts gold and currencies from current exchange rates.
• Pip calculator: provides an overview of the pip value based on the currency traded, position size and account base currency.
• Night swap calculator: provides data on Dukascopy's rollover policy.

Trainings Offered by Dukascopy

To attract novice investors and make it easier for them to get started with their services, online brokers generally offer training. This is also the case for Dukascopy, which provides investors with a number of educational tools that we present in this Dukascopy review.

They can be grouped into 3 main groups:

• Video tutorials. These are specifically dedicated to using the JForex platform. The aim of these video tutorials is to teach you how to use the platform and its trading tools. Topics covered include: changing the time, placing a market order, modifying the order type grid, merging positions, and deleting a pending order.
• Seminars. Dukascopy Europe organizes training seminars on an ad-hoc basis. These are generally organized at the request of clients, covering topics of their choice. They can be attended in person or via video, as the seminars are broadcast online by Dukascopy TV.
• Webinars. Webinars are broadcast on the YouTube video sharing platform, on the Dukascopy Webinars channel. They primarily consist of value-added content about the stock market: news, market indicators, and analyses by Dukascopy experts.

Dukascopy Bonuses and Promotions

Dukascopy Bank offers bonuses and promotions to attract and retain investors.

Capital Bonus

This is a 10% bonus that customers who manage their trading account themselves can apply for. It is available within 30 days of the last deposit. Claiming this bonus is done directly on the broker's site, in the client's account management interface.

This bonus is subject to conditions:

• The deposit must be the last transaction at the time of the claim. The bonus is calculated on the balance at the time of the request, and is positioned after its validation in additional margin.
• New deposits may cause the initial bonus to increase.
• The total amount of active bonuses is capped at 50 USD.
• For the bonus to be definitively validated, the volume of transactions on the account after 1 year must be 30 times greater than the balance, calculated at the time the bonus was set up.
• The bonus cannot be withdrawn until the conditions are met.
• The bonus cannot be used to cover trading losses.
• If the customer makes a withdrawal or does not reach the volume requirements within 360 days of obtaining the bonus, the latter is cancelled. It can also be canceled manually by the customer in his reports.

Reduced Commissions on Dukascopy Forex

Dukascopy clients can receive a 20% reduction in trading volume commissions.

Like the capital bonus, this bonus is subject to conditions:

• Subscription period included in the 30 days following the last deposit.
• Minimum volume conditions over the year following registration are required: 30 times the amount in account at the time of subscription to the bonus.
• The volume is calculated from the subscription. The bonus consists of reimbursement of the commissions actually paid over the year.
• Cancellation of the bonus is effective if the client makes a withdrawal, if he does not meet the volume conditions within the year, or if he terminates the program himself in his account management interface.

Anniversary Bonuses

Dukascopy celebrates 11 years of existence by offering its customers a special bonus. By subscribing to this promotion, the investor can receive 100% of the amount of his account as a bonus.

The conditions to be met to benefit from this bonus are as follows:

• The deposit must be the last transaction at the time the anniversary bonus is requested.
• The bonus is calculated on the balance at the time of the request and is positioned after its validation in additional margin.
• New deposits may cause the initial bonus to increase.
• The total amount of active bonuses is capped at 10 USD.
• For the bonus to be definitively validated, the volume of transactions on the account after 1 year must be 50 times greater than the balance, calculated at the time the bonus was set up.
• The bonus cannot be withdrawn until the conditions are met, and the bonus cannot be used to cover trading losses.
• The bonus becomes accessible and free of any restrictions once the conditions are fully met. A system notification will be issued to this effect.
• If the customer makes a withdrawal or does not reach the volume requirements within 360 days of the bonus being set up, the bonus is cancelled. It can also be canceled manually by the customer in his reports.
• The set stop loss levels and account exposure take the bonus into account, even if it is still only additional margin. The cancellation of the bonus can therefore trigger margin cut operations (closing of positions due to exceeding the exposure threshold) or increase the use of leverage.

How to Contact Dukascopy Customer Service?

Address of Dukascopy trading is: Lacplesa iela 20a-1, Riga, LV-1011, Latvia. This broker has set up customer service to address traders' concerns. He can be contacted in several ways:

• Via a main line for general assistance: +371 67 399 000
• Via a specific line dedicated to live trading: +371 67 399 039
• A customer support chat is available 24 hours a day
• You can also write a message to Dukascopy by clicking on the “Send us a message” hypertext link. This email is dedicated to general questions. You will need to fill in your surnames, first names and email and telephone addresses before writing your message.

Opinion on Dukascopy Customer Service

Dukascopy customer service is quite well organized. The separation of the general support line and the line dedicated to live trading makes it possible to better manage queries relative to their priority.

This distribution is also found in messaging. Two links are available: one dedicated to urgent trading instructions, and the other to general questions.

In addition, the chat is permanently available to customers. This is a great support measure, because accessible marketplaces and customers are spread across different time zones.

Membership at Dukascopy

Dukascopy has implemented a system to reward those who introduce new clients to the online broker. The program is called “AA” (for Business Introducer), and is open to individuals and businesses alike.

In return, the contributor may receive up to 50% of the commissions on volumes generated by the clients affiliated to his account.

To facilitate the subscription of potential customers that the contributor can recommend, Dukascopy provides them with preferential conditions:

• Minimum deposit of 100 USD
• Simplified account opening procedure
• Leverage up to 1:30

Becoming a business provider at Dukascopy is done in 3 steps:

Complete the registration form;

Receive a BI-ID code that will identify the customers you have recommended;

Receive access to the web portal of business introducers. On this page, you will be able to follow your progress, the statistics of your activity (new customers, commissions paid).

It should be noted that Dukascopy reserves the right to refuse access to this program. In addition, if the provider intends to carry out its activity through a web page, it may notify its address in its application, provided that the name Dukascopy or any similar expression does not appear in the domain name.

Comparison between Dukascopy and Other Brokers

In this Dukascopy review, we will now carry out an overall comparison of this broker's offer with that of other competitors in terms of online brokerage. You therefore have several comparisons in the following table: Dukascopy vs XM; Dukascopy vs Ig Markets; Dukascopy vs. IC Markets; Dukascopy vs XTB ; Dukascopy vs. Oanda; Dukascopy vs FxPro.

On the other hand, Dukascopy vs N26, Dukascopy vs Payoneer, or Dukascopy vs Transferwise comparisons cannot be made within the framework of this Dukascopy review, due to the mismatch between Dukascopy's offers and those of these other operators, and the fact that we are mainly interested in this Dukascopy review in the online brokerage activity of this broker.

In summary: Avantages and Disadvantages of Dukascopy

To summarize this Dukascopy review, here are the strengths and weaknesses identified with this broker.

Is Dukascopy the Best Forex Broker?

As a broker, Dukascopy has many strengths, but it is not the best Forex Broker. The Forex market is the largest (in size) in the stock exchange, with dozens of pairs, majors, minors and exotics. At this level we already see that Dukascopy does not offer the best selection of pairs available.

Vantage is the broker we recommend for Forex trading: a very wide offer of currencies, spreads among the lowest on the market, a welcome bonus of 50% on the first deposit and leverage greater than 1:30 available in the European Union.

Is Dukascopy the Best Stock CFD Broker?

In view of Dukascopy's offer, we can consider this online broker to be the best for CFDs on shares. With Dukascopy, you can trade hundreds of stock CFDs.

The SFWX platform is connected to nearly twenty stock exchanges, giving you the opportunity to invest in the securities of the largest multinationals. Trading commissions on these securities are very high.vantageuses, on average 0,1% on each trade made.

Is Dukascopy the Best Precious Metals Broker?

Precious metals are one of the most popular markets for traders because they are safe havens. For trading precious metals, XM is the most attractive option.

Its offer is better than that of Dukascopy on several points. XM offers greater leverage, up to 1:888. Additionally, gold and silver spreads are very competitive at XM, around 0,3 and 0,03 pips respectively. Finally XM offers the possibility of trading on Palladium and Platinum.

What is the Best Alternative to Dukascopy in 2025?

Overall, Vantage remains the best alternative in case this broker does not convince you. Even though Dukascopy is a regulated ECN broker, with a good offer and attractive conditions, Vantage remains well above by offering a wider range of securities to trade than that of Dukascopy with high quality platforms (MT4 and MT5).

Is Dukascopy a Regulated Broker?

Yes. Dukascopy in its various representations is subject to the control of three regulators: The Swiss regulator FINMA (Federal Financial Markets Supervisory Authority), the Latvian regulator FCMC (Financial and Capital Market Commission) and the Japanese regulator FSA (Financial Services Agency).

What Solutions Does Dukascopy Offer to Fund Your Account?

To make a deposit in a Dukascopy account, you can use bank cards, bank transfers, electronic wallets or even bank guarantees.

Is Dukascopy a Broker Market Marker?

No. Dukascopy is an ECN type broker. Thanks to its proprietary SWFX platform, it places its clients' orders directly in relation to the market.

What is the Minimum Deposit to Open an Account and Trade with Dukascopy?

If you open your account directly with Dukascopy Bank (Swiss division of Dukascopy), you will need to deposit the equivalent of USD 1. But an account opened with Dukascopy Europe requires the equivalent of 000 USD as a minimum opening deposit.

How to Withdraw Money from Dukascopy?

With Dukascopy, you can make your withdrawals by bank transfers, bank cards, or with electronic wallets like Neteller or Skrill.

❓Does Dukascopy offer an Islamic Account?

Yes. As mentioned in this Dukascopy review, traders of Muslim faiths can trade halal thanks to the swap-free (Islamic) account offered by this broker.

Which Trading Platforms Can You Use with Dukascopy?

The online broker Dukascopy offers two trading platforms: MetaTrader 4 and JForex (accessible on computers, tablets and smartphones).

Have you traded with Dukascopy before and want to share your experience? Or are you considering trying this broker? In any case, do not hesitate to leave us a comment below!