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Dukascopy Broker Review

Review By: Max Webster Review Updated: October 21, 2019

Address: Dukascopy Bank SA Route de Pre-Bois 20 ICC, Entrance H 1215 Geneva 15 Switzerland

Phones: 41 227994888

Forex ETF Stocks CFD Crypto Commodoties

Spread

0.3

Max. Leverage

1:200 by request

Deposit Protection

$100,000

Min. Deposit

$100

Spread

0.3

Max. Leverage

1:200 by request

Deposit Protection

$100,000

Min. Deposit

£100

Spread

0.3

Max. Leverage

1:200 by request

Deposit Protection

$100,000

Min. Deposit

$100

Spread

0.3

Max. Leverage

1:200 by request

Deposit Protection

$100,000

Min. Deposit

$100

Spread

0.3

Max. Leverage

1:200 by request

Deposit Protection

$100,000

Min. Deposit

$100

Spread

0.3

Max. Leverage

1:200 by request

Deposit Protection

$100,000

Min. Deposit

£100

Our Overall Rating

Rating 3.9
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Dukascopy is an online brokerage, based in Geneva, Switzerland, offering trading in Forex and a wide range of other instruments, via CFDs. The company is regulated by FINMA, and specialises in business to business transactions. However, the firm also offers brokerage and trading opportunities for individual investors, and it is relatively straightforward to open a Dukascopy account as a private individual. Dukascopy is an award-winning brokerage, having been voted “Best Forex Bank, 2016” by Forex Stars, and “Best Forex ECN/STP Broker 2018” at the London Forex Show.

Dukascopy Intro

Commissions & Fees

Rating

At Dukascopy, commissions vary based on volume, and of course, according to the instrument being traded. When trading EUR/USD, for example, there is an average spread of 0.3 pips, combined with a commission which will depend on trading volume, as well as net deposits and current balance. The default commission of 0.7 pips per round turn, would, therefore, bring the cost to a reasonably competitive 1 pip, when trading EUR/USD.

Dukascopy Commissions & Fees

There are no general account fees, but a maintenance fee may be charged on dormant accounts, along with any fees necessary to re-establish contact with the account holder. As you would expect, there is also a rollover fee and a currency exchange fee.

Platforms & Tools

Rating

The broker offers its own proprietary platform with advanced trading technology and a variety of trading tools, available as a web-based and desktop platform, compatible with both PC and Mac. The platform is highly advanced and customisable, offering over 20 drawing tools and almost 300 technical indicators with the desktop version (there are less on offer via the web-based version).

Dukascopy MT4 Install

 

Although many traders may feel the lack of MT5 trading, the proprietary platform is very advanced and intuitive.

 

 

Customer Service

Rating

Customer support can be easily contacted via phone or email, although it is necessary to fill in a contact form on the site to request email support. There is no live chat available, although clients can log a call-back request at their own convenience, which is a useful feature.

Dukascopy Contact Us

There is also the option to report an issue if you experience any problems with the site or platform. As well as the Swiss office, the company has offices in Riga, Kiev and Hong Kong, with dedicated phone lines. There is also a very extensive FAQ page, answering a wide range of common customer questions.

Research

Rating

Ease of Use

Rating

Mobile Trading

Rating

Regulatory details

Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
77.73% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Final Thoughts

Dukascopy is a fully-regulated, award-winning financial institution with a range of tradable instruments and a set of sliding fees that benefit those with larger deposits and higher trading volumes.

Dukascopy Awards

For this reason, the broker will tend to appeal to more experienced traders with more substantial amounts to invest. The platform, however, is clear and intuitive, and a demo account is available. So it’s possible that smaller and newer investors may decide to consider Dukascopy as an option, and it is certainly interesting that cryptocurrencies are now on offer, alongside other currencies and instruments. This will no doubt attract less conventional investors who want to include digital currencies in their investment portfolio.

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Ratings

Rating
  • Commissions & Fees Rating
  • Platforms & Tools Rating
  • Customer Service Rating
  • Research Rating
  • Ease of Use Rating
  • Mobile Trading Rating

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