REVIEW DUKASCOPY BANK
DUKASCOPY REVIEW SUMMARY
- Broker Type: ECN via the SWFX Swiss Market
- US Traders: NO
- Regulation: FINMA (SWISS) | FCMC (EU)
- Trade Platforms: JForex, Java Trader, WebTrader, MetaTrader4 via Software Bridge
- Mobile Apps: iPhone, iPad, Android
- Auto-Trading & Scalping: Yes to both, plus social trading
- Asset Classes: 60+ Forex Pairs, 2 Indices, Metals, Energy
- Dukascopy Minimum Account: $1,000
- Fund Methods: Cards (Maestro, Visa, and Electron)
» Open an account with Dukascopy Bank
DUKASCOPY FULL REVIEW
Introduction to the Duksacopy Services
Dukascopy is an ECN Broker offering enormous liquidity via its own SWFX Market. Dukascopy is a member of the Dukascopy Swiss Forex Group and maintains headquarters in Switzerland.
□ Headquarters: Switzerland
□ Regulation: Dukascopy Bank is regulated by FINMA (SWISS)
□ Regulation: All Dukascopy Bank's clients are protected up to CHF100,000 by esisuisse
□ Foundation: The Dukascopy Swiss Forex Group was founded in 1999
□ Account Segregation: YES
Dukascopy Bank Trading Features
(1) Fast Execution – Via in-house built technology, Dukascopy offers access directly to liquidity providers and order execution in milliseconds.
(2) Tight Spreads –Via enormous ECN liquidity, Dukascopy offers spreads as low as 0.2 pips on EURUSD.
(3) No Limits – Trade $200 million USD in a single order
(4) Depth-in-market – All Dukascopy traders can monitor the full market depth.
(5) Equal Trading Rights and Conditions – All Dukascopy clients have equal treatment in terms of offered spreads, liquidity, etc.
(6) Transparent pricing – Same pricing and same liquidity for all traders no matter their size
DUKASCOPY ASSET INDEX & SPREADS
The Dukascopy asset index contains Forex pairs, Energy, Metals, and Stock Indices:
- 60+ Forex pairs (All majors and many crosses and exotic pairs)
- Trade Gold and Silver on Spot
- Trade UK Oil and US Oil
- Trade Major Indices (US 30, US 100, US 500, Australia 200, Spain 35, EU Stocks, Hong Kong, Germany 30, France 40, Switzerland 20, UK 100, Japan Stock Index,
DUKASCOPY TRADING PLATFORMS & TECHNOLOGY
DUKASCOPY provides three main trading platforms plus three mobile traders. The broker has developed its own platform, called JForex. There are tens of Expert Advisors exclusively designed for Dukascopy’s JForex. There is also a Web-Platform and a Java Platform. Mobile traders run on iPad, iPhone, and Android. MetaTrader-4 can be used via a software bridge. Automated trading, Expert Advisors (Forex Robots), Hedging, and Scalping are fully supported.
□ Dukascopy Mobile Trading: iPhone, iPad, and Android
□ Automated Trading: YES
□ Hedging / Scalping: YES
□ Social Trading: YES
□ PAMM / MAM Accounts: YES
DUKASCOPY SOCIAL TRADING
- Set up your desired Stop-loss level and personal Trading ratio to filter any signal provider
- Use in-house VPS-like service for free, all trading signals can be executed even when traders are offline
- Monitor and Manage all copied positions via a mobile platform
DUKASCOPY PAMM/MAM ACCOUNTS
- Manage all currency accounts in one platform
- Multi-choice of a base currency
- Fee calculation function
- Block trading facilities for certain accounts
DUKASCOPY TRADING ACCOUNTS
Dukascopy provides customer support via phone, email, and Skype. In addition, it provides live trading support via phone, 24 hours a day, 5 days a week.
| DUKASCOPY ACCOUNT TYPES | DUKASCOPY ACCOUNT INFORMATION | ||
|---|---|---|---|
| Base Currency Options | USD, CHF, EUR, GBP, JPY, AUD, CAD, DKK, HKD, MXN, NOK, NZD, PLN, RUB, SEK, SGD, TRY and ZAR | ||
| Contract size (lot) | 100,000 (a standard lot) | ||
| Minimum Initial deposit | $1,000 | ||
| Maximum Leverage | 30:1 | ||
| Spread on all majors | As low as 0.2 pips | ||
| Trading Commission | $0.5/LOT TO $4.8/LOT | ||
| Hedging / Scalping | Yes | ||
| SWAP Free / Islamic Account | Yes | ||
| » Dukascopy New Accounts (Demo/Real) | |||
□ Minimum Account: $1,000
□ Fund Methods: Bank Wire, Credit Cards, Debit Cards (VISA, Electron, Maestro)
□ Account Currencies: USD, CHF, EUR, GBP, JPY, AUD, CAD, DKK, HKD, MXN, NOK, NZD, PLN, RUB, SEK, SGD, TRY and ZAR
□ Withdrawal Commissions: NO
□ Multilingual Personal Account Manager: Yes (24/5) | Live Trading support via phone, 24 hours a day, five days a week
□ Customer Support Methods: Phone, Skype, and Email
□ Customer Support / Web-Site Languages: English, Arabic, Chinese, French, German, Japanese, Russian
DUKASCOPY FREE EDUCATION
□ Forex market updates / Full Trading Tools / Daily Technical Analysis
□ Free Education
□ Demo and Real Account Contests
DUKASCOPY REVIEW -MAIN PROS & CONS
|
DUKASCOPY PROS √ |
DUKASCOPY CONS X |
|
(√) Regulated by FINMA (SWISS) (√) All Dukascopy Bank's clients are protected up to CHF100,000 by esisuisse (√) Real ECN Forex Broker (√) Enormous Liquidity via SWFX Market (trade 200 million USD in a single click (√) Tight variable spreads and low trading commissions. EURUSD starts as low as 0.2 pips (√) Top technology and fast execution via the JForex Platform (√) Automated Trading and Scalping are allowed. Ideal for Day-Traders and Scalpers (√) Multilingual customer support / Live Trading Support 24/5 |
(x) MetaTrader4 only via a software bridge (x) Doesn't support internet wallets (Paypal, Skrill, etc.) |
DUKASCOPY REVIEW –FINAL THOUGHTS
Dukascopy is part of the Dukascopy Swiss Forex Group. The Dukascopy Group provides access to the Swiss ECN Forex Market via the innovative Dukascopy SWFX Market. Dukascopy offers a unique trading framework for individual and professional traders but also for investment companies and hedge funds. The great advantage when trading with Dukascopy is the availability of enormous liquidity which is transformed into tiny spreads. Based on this liquidity you may trade 200 million USD in just a single click. Dukascopy Bank offers professional trading conditions to ordinary retail Forex traders, and that means:
(1) Minimum account size is now just $1,000
(2) Fund your account via Bank Wire
Dukascopy Bank is regulated by FINMA which is a very trustable authority. In addition, all clients are protected by esisuisse (up to CHF100,000).
As concerns platforms, Dukascopy offers three desktop platforms and three mobile platforms. The broker has developed its own platform, called JForex. JForex offers some unique features for automated Forex trading and scalping (check below) There are tens of Expert Advisors exclusively designed for Dukascopy’s JForex. There is also a Web-Platform and a Java Platform. Mobile traders run on iOs and Android. MetaTrader-4 can be used via a software bridge.
As concerns trading conditions, Dukascopy offers very tight spreads and very low trading commissions. The combination of fast execution and tight spreads makes Dukascopy ideal for Forex scalping and day trading. The typical spread on EURUSD is between 0.4-0.6 pips and the maximum trading commission charged is $4.8 per lot. For large accounts, the commissions charged get as low as $0.5 per lot.
The minimum account, in order to open a live account with Dukascopy Bank, is just $1000 and may be funded via Bank Wire. Dukascopy offers also Trading Promotions including many trading contests (live and demo contests). Overall, Dukascopy is one of the top choices for ECN Forex trading. It offers tight spreads, state-of-the-art technology, and safety of funds. There is also an extra rebate promotion (along with the Equity Bonus) for new clients (20% rebate, link below).
» Open an account with Dukascopy
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