Dukascopy and Swissquote each have many years of experience in the forex trading market. Both brokers are among the leading trading platforms headquartered in Switzerland, and over time each has built a solid reputation among traders. However, unlike its competitor, Swissquote is a publicly listed company. It is an excellent choice for beginner traders as well as professionals. Dukascopy, for its part, suits active, advanced forex traders. In this Dukascopy vs Swissquote comparison, we describe both brokers in detail to help you choose the one that suits you best.
Dukascopy vs Swissquote – Key Information
In this Dukascopy vs Swissquote comparison, we noted that the two brokers have several similarities. Of course, each also has its own specific features:
- Dukascopy Bank is a group of companies specialising in trading services. This Swiss online bank naturally provides banking and financial services. Besides its headquarters in Geneva, it has a presence in several countries, including Ukraine, Latvia, Japan, Russia and Hong Kong. Several financial authorities regulate Dukascopy and its subsidiaries, including FINMA in Switzerland, the FSA in Japan and the FCMC in Latvia.
- Swissquote Group Holding SA is also a banking group based in Switzerland. It has representative offices in several cities around the world, including Dubai, Hong Kong, London, Bern, Singapore, Zurich and Luxembourg. The group currently has more than 800 employees, and its activities focus on providing online financial solutions and services. For its trading services, the broker has around 410,000 clients worldwide. Swissquote has been listed on the Swiss stock exchange since 2000. Several financial authorities, such as FINMA in Switzerland, the FCA in the UK, the MAS in Singapore and the SFC in Hong Kong, regulate the group and its subsidiaries.
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Awards
In this Dukascopy vs Swissquote comparison, we compared the awards and prizes received by these brokers.
- Since its launch, Dukascopy has collected many awards, winning several prizes year after year.
- According to our research, Swissquote has also won a few awards.
Swissquote vs Dukascopy – Security Measures
To strengthen the security of clients’ trading accounts, deposits and data, every broker must put appropriate measures in place. In this Dukascopy vs Swissquote comparison, we compared the security measures adopted by both firms:
- Both brokers and their respective subsidiaries are regulated by well-known financial authorities: FINMA in Switzerland, the FSA in Japan and the FCMC in Latvia for Dukascopy, and FINMA in Switzerland, the FCA in the UK, the MAS in Singapore and the SFC in Hong Kong for Swissquote.
- Both brokers protect all client deposits up to CHF 100,000. Swissquote in particular is required by FCA regulation to protect client funds up to £50,000 in the event of insolvency,
- They also hold client funds in accounts segregated from their own.
- Negative balance protection is among the measures taken by both brokers.
Dukascopy vs Swissquote – Available Assets
This Dukascopy vs Swissquote comparison let us compare the trading instruments available at both brokers:
- Dukascopy offers more than 600 trading instruments, including around sixty currency pairs. Traders have access to the most popular pairs, such as EUR/USD, USD/CHF, GBP/USD and USD/JPY. Besides forex, the broker also offers cryptocurrency trading, binary options and CFDs,
- Swissquote offers around 130 trading instruments, including 80 currency pairs: major, exotic and minor pairs. Users can also trade stock indices, commodities, bonds and even precious metals. The broker has just added 9 cryptocurrencies to its offering. According to its website, the broker offers no fewer than 3 million products.
Trading
Both brokers compete with ideas to attract traders around the world, whether beginners or not. In this Dukascopy vs Swissquote comparison, we compared the trading orders offered by the two competitors:
- Dukascopy has chosen ECN trading, which lets it ensure fast execution speeds and tight spreads. It offers a wide choice of trading orders, including limit orders, stop losses and trailing stops. Traders with this broker also have access to social trading and a Virtual Private Server, and can use maximum leverage of 1:200.
- Swissquote offers several types of execution, including instant execution, market execution, spot execution and best execution. Traders with this broker also have access to a digital wealth manager through its robo-advisor, and can use maximum leverage of 1:100.
- The two brokers have several offerings in common, including automated trading, scalping, hedging and one-click execution.
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Before choosing one broker over another, it’s important to look into its deposits and withdrawals. In this Dukascopy vs Swissquote comparison, we noted the following:
- Dukascopy offers a wider range of payment methods. In addition to Visa, Mastercard and Maestro cards and Swift and SEPA bank transfers, the broker also accepts payments via Skrill and Neteller. Traders can also fund their accounts in cryptocurrencies.
- Both brokers accept deposits in several currencies,
- However, the minimum deposit at Swissquote is very high compared with Dukascopy’s.
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Fees – Dukascopy vs Swissquote Review
This Dukascopy vs Swissquote comparison showed us that the two brokers have adopted radically different pricing structures:
- Dukascopy doesn’t charge spreads; it earns its money mainly from commissions. Its fee schedule is a bit more complex. It uses three criteria to calculate commissions: trading volume, equity and net deposit. Each criterion is associated with a fee, and if the fees differ, the broker charges the lowest. These commissions can range from $10 to $35 per million dollars traded. Dukascopy also charges other secondary fees, such as inactivity fees, conversion fees, withdrawal fees and, in some cases, deposit fees.
- Swissquote earns its money from several fees: spreads, commissions and swaps. The broker also charges other fees linked to the secondary services it offers, such as deposit fees, withdrawal fees, conversion fees, account maintenance fees, inactivity fees and account closure fees. To avoid hefty bills, you need to keep an eye on these secondary fees.
Trading Accounts
In this Dukascopy vs Swissquote comparison, we also compared the accounts on offer:
- Traders with both brokers have access to a demo account to get familiar with the tools and fine-tune their strategies. However, while a Dukascopy demo account is valid for only 14 days, Swissquote’s remains available for 30 days.
- Only Dukascopy offers a swap-free account for Muslim traders,
- Both brokers offer multi-currency accounts,
- Both welcome retail and professional traders alike.
Trading Platforms – Dukascopy vs Swissquote
Trading platforms are among the elements we compared in this Dukascopy vs Swissquote comparison:
- Both brokers have chosen to offer the popular MetaTrader 4 platform,
- Dukascopy has a forex trading platform called JForex, compatible with Linux, Windows and Mac. Traders can also use it on iOS or Android devices. Among other things, the platform offers more than 180 technical indicators, historical testing using real data and the ability to visualise automated strategies.
- Swissquote has a wide range of platforms so traders can choose the one that best suits their level of experience. The eTrading platform, which lets you trade several financial assets, is aimed at all traders. The Swiss DOTS platform is reserved for trading derivatives, while Themes Trading is dedicated to investment ideas. At Swissquote, traders can also use a web platform for forex and CFD trading called Advanced Trader. The broker also offers the MetaTrader 5 trading platform. Traders on the move can use mobile apps available on iOS, Android and Windows.
Trading Tools – Our Review of the 2 Brokers
In this Dukascopy vs Swissquote comparison, we noted that both brokers offer several trading tools:
- Some tools are similar, such as trading signals, market analysis, mobile alerts, technical indicators and currency converters.
- Dukascopy gives access to other tools such as chart trading, an economic calendar, sentiment indices and historical prices. Through Dukascopy TV, traders also have access to high-quality content and news on blockchain technology and cryptocurrencies, trading tips and current affairs.
- At Swissquote, traders can access Autochartist, a chart pattern recognition and technical analysis platform, to help them improve their trading.
Education
Education isn’t only for beginner traders; some is also offered to experienced traders. In any case, education is an essential factor in choosing a broker. In this Dukascopy vs Swissquote comparison, we compared what the two brokers offer:
- Traders with both brokers have access to video tutorials, educational articles and webinars to learn the ropes of trading and improve their knowledge,
- Dukascopy also offers seminars for its clients, plus an online forum where traders can start all kinds of discussions,
- Swissquote also offers online courses, an ebook and a glossary.
Customer Support
This Dukascopy vs Swissquote comparison showed that both brokers have also invested in customer service to support their clients:
- Traders with both brokers have access to multilingual customer support,
- Both brokers offer roughly the same communication channels to reach their customer service. However, Dukascopy’s traders can also use an online form to contact customer support, letting them request a callback, report a problem or simply send a message to the support team.
Dukascopy vs Swissquote: Pros and Cons
Each broker has its strengths and weaknesses. In this Dukascopy vs Swissquote comparison, we identified several:
- Dukascopy is the more intimidating of the two brokers. Its fees are complicated, and overall its interface is less comfortable to use than its competitor’s.
- Swissquote stands out for the breadth of markets available on its platform. However, its fees are fairly high.
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In addition to this Dukascopy vs Swissquote comparison, we advise you to try both brokers’ demo accounts to help you decide which suits you best.