|Minimum deposit:||$100 USD|
|Withdrawal fee amount:|
|Inactivity fee charged (Y/N):||N|
|Number of instruments:|
|Time to open account:|
|Demo account provided (Y/N):||Y|
|Countries of regulation:|
Our Full Dukascopy review is coming soon.
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.
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.
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.
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).
Although many traders may feel the lack of MT5 trading, the proprietary platform is very advanced and intuitive.
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.
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.
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