Dukascopy ECN Forex Broker Review

Dukascopy Swiss Forex Group is a regulated financial group founded in 1998 and based in Switzerland.

The Dukascopy Group includes two Forex brokers:

Dukascopy Bank which provides direct access to the Swiss ECN Foreign Exchange Marketplace (Swiss, min deposit $5,000)

Dukascopy Europe which operates as an investment brokerage firm (Latvia, min deposit $100)

Dukascopy is well-known in the ECN Forex community for its trading innovations and tight trading spreads. Dukascopy offers access to the SWFX market (Swiss Forex Marketplace) which includes enormous liquidity from a dozen top investment banks. Dukascopy ECN broker is a very good choice for professional and other large-volume Forex traders.

  • Minimum account size: $100 (Dukascopy Europe) and $5,000 (Dukascopy Bank)
  • Minimum lot size: 0.01
  • Trading Leverage:1:30 to 1:200
  • Payment options: Credit/debit cards (Maestro, Visa, Electron), Bank Wire transfer
  • Automatic Trading / Scalping: Fully allowed, API Trading
  • Trading Platforms: JForex, JavaTrader, WebTrader, iOs and Android Mobile Traders
  • Trading Spreads: from 0.2 pips (average 0.35 pip)
  • Trading Commissions: $3.0 / lot
  • US Traders: No
  • Islamic Traders: Yes
  • Account CurrenciesUSD, EUR, GBP, AUD, CAD, CHF, DKK, JPY, PLN, SGD, HKD, NOK, SEK
  • Web-site Languages: Arabic, Chinese, English, French, German, Italian, Japanese, Polish, Portuguese, Russian, Spanish
  • Customer Support: Arabic, English, French, German, Japanese, Russian
  • Promotions: 10% Equity Bonus plus 20% Trading Rebate (check below)

► Register an ECN Account with Dukascopy Europe 

Start Trading Forex with Dukascopy Europe and get 30% Rebate for the 1st Month of Trading

Dukascopy offers 30% Rebate for the 1st month of Trading via Forex-Rebates.com. You can choose between Dukascopy Bank (min. account $5,000) or Dukascopy Europe (min. account $100). The rebate works as a discount to all commissions paid for the 1st month of trading. You can claim your 10% equity bonus along with this offer. This offer is valid for both Dukascopy Europe and Dukascopy Bank.

► Register at Dukascopy Europe from here and claim your 30% Rebate for your 1st month of trading (minimum account $100)

 

Dukascopy Profile and Safety of Funds

Dukascopy is regulated as a Swiss bank by the Swiss Financial Market Supervisory Authority FINMA. Dukascopy Group maintains offices in Geneva, Zurich, Riga, Moscow, Kuala Lumpur and Hong Kong, and employs more than 200 people. Dukascopy is audited by the international consultancy group KPMG. The bank is a member of the Swiss regulators compensation scheme and insures client’s funds up 100,000 CHF in the event the company collapses. Dukascopy Bank is also a member of ARIF (Association Romande des Intermédiaires Financiers).

  • Headquarters: Switzerland (Dukascopy Bank) and Latvia (Dukascopy Europe)
  • Foundation: 1998
  • Regulation Dukascopy Bank: FINMA (Swiss)
  • Regulation Dukascopy Europe: FCMC (Latvia)
  • Audited: KPMG
  • Safety of Client Funds: Insured up to 100,000 CHF

Dukascopy offers the same price feed and trading conditions to all retail and institutional traders.

Dukascopy ECN Trading

Dukascopy is a true ECN Forex broker and all Dukascopy clients get access to the Swiss FX Marketplace. Major Dukascopy liquidity providers includes: Barclays, Deutsche Bank, HSBC Bank, JP Morgan, Citibank, Goldman Sachs, and Currenex. The liquidity pool allows up to 200 million in one click.

  • Platforms: JForex, JavaTrader, WebTrader, Mobile Platforms, MT4 via bridging support
  • Trailing Stops: Yes
  • Scalping: Allowed
  • Hedging: Allowed
  • Trailing Stops: Yes
  • Spreads: typical EUR/USD spread 0.25 pips
  • Minimum Trade Commissions: $1.0 / lot
  • Maximum Trade Commissions: $3.5 / lot

Accounts of more than 10 million USD are only charged $10 commission per one million, and that fact combined with spreads as low as 0.2 pips makes Dukascopy ideal for day trading and scalping Forex.

  • Demo: Yes
  • Server Timezone: GMT
  • API Trading: Yes
  • VPS for Traders: 35 USD / monthly

·    Currency Pairs

     Currency Pairs include: AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/SGD, AUD/USD, CAD/CHF, CAD/HKD, CAD/JPY, CHF/JPY, CHF/SGD, EUR/AUD, EUR/CAD, EUR/CHF, EUR/DKK, EUR/GBP, EUR/HKD, EUR/JPY, EUR/NOK, EUR/NZD, EUR/PLN, EUR/SEK, EUR/SGD, EUR/TRY, EUR/USD, GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/NZD, GBP/USD, HKD/JPY, NZD/CAD, NZD/CHF, NZD/JPY, NZD/USD, SGD/JPY, USD/CAD, USD/CHF, USD/DKK, USD/HKD, USD/JPY, USD/MXN, USD/NOK, USD/PLN, USD/RUB, USD/SEK, USD/SGD, USD/TRY, USD/ZAR, XAG/USD, XAU/USD

Dukascopy Account and Funding Options

Dukascopy Europe offer account funding via bank wire transfer and debit/credit cards. Dukascopy does not charge fees for incoming wire transfers but charges $20 fee for outgoing transfers.

Client funds are insured by government regulation up to 100,000 CHF. For deposits more than $100,000 USD, Dukascopy is allowing the funds to remain in your own bank (bank guarantees). Note that Dukascopy charges 1.25% annual fee, if you use this option. Dukascopy supports also Swiss custodian services with banks such is Barclays and Merrill Lynch. The minimum deposit size for Swiss custodian services is $250,000 USD.

  • Broker Type: ECN
  • Account Currencies: AUD, JPY, GBP, CHF, PLN, USD, CAD, EUR, SGD, HKD
  • Payment Options: Credit & Debit Cards (Maestro, Visa, Electron). and Wire Transfer
  • Minimum Deposit: $100 Dukascopy Europe and $5,000 Dukascopy Bank
  • Free Demo: Yes
  • US Traders: No
  • Islamic Account: Yes
  • Insured Funds: Up to 100,000 CHF

Dukascopy Trading Platforms

Dukascopy provides a great variety of trading platforms with access to the SWFX Market (Swiss Forex Marketplace). The available platforms include JForex, WebPlatform, JavaTrader, Mobile Traders and MT4 via Bridge. The Swiss Forex Mobile Traders are available for iPhone and Android. Automatic Trading, Scalping, Hedging and Expert Advisors are all allowed.

Trading Platforms

JForex, WebPlatform, JavaTrader, Mobile Traders, MT4 via Bridge

Automatic, Trading and Scalping

Yes

API Trading

Yes

Stop Orders:

Yes

Limit Orders:

Yes

Market Orders:

Yes

Trailing Stop Orders:

Yes

OCO Orders:

Yes

1-Click Trading:

Yes

Streaming News Feed:

No

Email /Mobile Alerts:

Yes

Market Depth:

Yes

Dukascopy's JForex is a built-in trading platform that can be used for automated and manual trading. Here are the main features of JForex platform:

(1) Different operation systems support (Windows, Apple Mac, Linux, etc.)

(2) Up to 180 technical analysis indicators

(3) Automated trading strategy visualization (real-time trading and historical back-testing)

(4) Automated strategies may be applied on multiple currency pairs

(5) Historical backtesting even using real tick data

(6) Java IDEs support

(7) Full market depth

Dukascopy Customer Support

Here are the main features of the Dukascopy Customer Service.

  • Support Methods: Phone, Skype, Callback, E-mail
  • Personal Account Manager: Yes
  • Customer Support Languages: Arabic, English, French, German, Japanese and Russian
  • Offices: Geneva, Zurich, Riga, Moscow, Kuala Lumpur, and Hong Kong

Dukascopy Monthly Contests

The Dukascopy website contains a whole Forex community with forums, monthly championships, and even social media features. There are also several Forex market informers including data feeds, calculators, and market sentiment tools. Each and every month Dukascopy runs unique contests, including:

(1) Trader of the Month

(2) Strategy Contest (Expert Advisors)

(3) Article Contest

(4) Binary Options Contest

(5) Miss Dukascopy

 

Dukascopy Review Summary

Dukascopy is the ideal solution for all high-volume traders, day-traders and scalpers. The spreads offered are really tight (as low as 0.2 pip) while the commissions charged are also low (maximum $3.5/lot). Regulation by FINMA for Dukascopy Bank, and FCMC for Dukascopy Europe, and funds guarantee (up to 100,000 CHF) provide real safety of trader’s funds.


Dukascopy Review Pros
:

  1. Maximum Safety of Funds
  2. Real ECN Trading via the SWFX Marketplace
  3. Tight trading spreads (average EURUSD at 0.35 pip) and low trading commissions (max $3.5/lot)
  4. State-of-the-art trading technology and many platforms available such is JForex, WebPlatform, JavaTrader and Mobile Traders
  5. Enormous liquidity (up to 200 million USD in one click)
  6. Trade many Forex pairs, Gold and Silver on Spot plus CFD Trading
  7. Supports many account currencies and special funding conditions (custodian banking services, bank guarantees and etc.)
  8. The Dukascopy web-site supports many languages and includes a built-in social network
  9. Monthly Trading and Other Contests with good Prizes
  10. Trading Rebates via Forex-Rebates.com (check below)


Dukascopy Review Cons
:

  1. MT4 is supported only via software bridge
  2. Internet Funding Options are not available (Paypal, Skrill, Neteller etc)

► Register an ECN Account with Dukascopy Europe

Dukascopy Starting an Account

Setting up a new account with Dukascopy is simple, especially as concerns Dukascopy Europe. It is required to fill an online agreement form plus to send a certified copy of your ID or passport and a copy of a recent utility bill. Once approved, a trading account number is provided and traders can make their deposit. Once an account is funded, Dukascopy sends the login information and the client can start trading.

Dukascopy offers 30% Rebate for the 1st month of Trading via Forex-Rebates.com. You can choose between Dukascopy Bank (min. account $5,000) or Dukascopy Europe (min. account $100).

► Register at Dukascopy Europe from here and claim your 30% Rebate for your 1st month of trading (minimum account $100)

 

Dukascopy Europe Review

ECNForexBroker.com (c)