Unique Selling Points
Swiss Banking Services: As a Swiss bank, Dukascopy Bank is well known for its banking services. Switzerland is known for its banking sector, which is regarded as one of the most secure and stable in the world. Dukascopy Bank is licensed and regulated by the Swiss Financial Market Supervisory Authority (FINMA), which provides further assurance to its clients. With its headquarters located in Geneva, Switzerland, Dukascopy Bank offers a high level of banking security, with segregated accounts for clients' funds, ensuring that their funds are kept separate from the bank's assets.
Trading Technologies: Dukascopy's proprietary JForex platform offers advanced trading technologies such as automated trading, chart trading, and a customizable user interface. JForex is a powerful trading platform designed for novice and experienced traders. It has a user-friendly interface that makes it easy to navigate, and it offers a range of advanced tools and features that can help traders make informed trading decisions.
Low Latency Execution: Dukascopy's infrastructure allows for ultra-fast order execution and low-latency trading. The bank has invested heavily in its technology infrastructure, which includes a direct fiber optic connection to its liquidity providers. This allows Dukascopy to offer its clients some of the fastest order execution times in the industry, with average execution times of less than 100 milliseconds. This is particularly important for high-frequency traders who rely on fast execution times to capitalize on short-term market movements.
Competitive Spreads and Commission: Dukascopy offers competitive spreads and low commissions, which can help traders keep their trading costs low. The bank offers spreads starting from as low as 0.2 pips on major currency pairs and charges a commission on forex and precious metals trades. The commission charged is competitive compared to other brokers in the industry, and it is calculated based on the client's trading volume. This means that the more clients trade, the lower their commission rate will be.
Dukascopy Bank is a well-known Swiss forex broker that has been providing financial services for over two decades. The company was established in 1998 and is headquartered in Geneva, Switzerland. Dukascopy Bank SA is the head office of the Dukascopy group and it maintains consolidated supervision over the other Dukascopy group entities from Switzerland.
Dukascopy Bank is regulated by the Swiss Financial Market Supervisory Authority (FINMA) and is known for its high level of security and transparency. As a result, it has become a popular choice among traders worldwide seeking a reliable and trustworthy forex broker.
Dukascopy Bank offers various financial services, including forex trading, CFD trading, and precious metals trading. The company's website, dukascopy.com, provides traders access to various trading tools and resources, including a trading platform, educational materials, and market analysis. Additionally, traders can access Dukascopy Bank's customer support team 24/7. Dukascopy reviews are generally positive, with traders praising the company's high level of security, transparency, and competitive pricing.
Dukascopy Bank supports traders from a wide range of countries, including the United Arab Emirates, Anguilla, Albania, Armenia, Angola, Argentina, Aruba, Azerbaijan, Bangladesh, Burkina Faso, Burundi, Benin, Bermuda, Bolivia, Bhutan, Botswana, Belarus, Belize, Congo (DRC), Central African Republic, Congo, Côte d'Ivoire, Chile, Cameroon, Colombia, Costa Rica, Cuba, Cape Verde, Christmas Island, Algeria, Ecuador, Egypt, Eritrea, Ethiopia, Gabon, Georgia, Guernsey, Ghana, Gibraltar, Gambia, Guinea, Equatorial Guinea, Guinea-Bissau, Guyana, Honduras, Haiti, Indonesia, Israel, Isle of Man, Iceland, Jersey, Kyrgyzstan, Cambodia, Kiribati, Kuwait, Cayman Islands, Kazakhstan, Sri Lanka, Lesotho, Libyan Arab Jamahiriya, Morocco, Montserrat, Mauritius, Malawi, Malaysia, Mozambique, Namibia, Niger, Nigeria, Nicaragua, Serbia, Rwanda, Saudi Arabia, Seychelles, Sudan, Sierra Leone, San Marino, Senegal, Somalia, Suriname, El Salvador, Swaziland, Turks and Caicos Islands, Chad, Togo, Thailand, Tajikistan, Tokelau, Timor-Leste, Turkmenistan, Tunisia, Trinidad and Tobago, Tuvalu, Taiwan, Tanzania, Ukraine, Uzbekistan, British Virgin Islands, Vietnam, Kosovo, Zambia, and Zimbabwe.
Dukascopy Bank SA also provides support in multiple languages, including English, Arab, Spanish, Italian, Chinese, Korean, Deutsch, Polish, Portuguese, Russian, and French. This allows traders from different parts of the world to access Dukascopy Bank's services in their native language, making it easier for them to navigate the trading platform and receive customer support.
Customer Service Rating
Dukascopy Bank has a Trustpilot rating of 4 stars out of 5, based on 49 reviews on the platform. Many clients have praised the broker's customer support team for their prompt and efficient service and in-depth knowledge of the bank's products and services.
However, the broker's rating on Forexpeacearmy is 3.0 out of 5, based on 169 reviews on the platform. While most reviews are positive, there are some negative reviews. The negative experiences are usually issues with account verification, withdrawal processes, and technical issues with the broker's platforms.
Dukascopy Bank Trading Platforms
JForex: JForex is the primary trading platform offered by Dukascopy Bank. It is a Java-based platform with advanced charting capabilities, technical analysis tools, and automated trading strategies. JForex is available for desktop and mobile devices, allowing traders to trade on the go.
MT4: Dukascopy Bank also offers the popular MetaTrader 4 (MT4) platform, which traders worldwide widely use. MT4 offers a wide range of charting and analysis tools and the ability to use custom indicators and automated trading strategies. MT4 is available for desktop and mobile devices.
WebTrader: Dukascopy Bank's WebTrader platform is a web-based platform that allows traders to access their trading accounts from any web browser without downloading or installing any software. It provides traders with real-time quotes, advanced charting capabilities, and various order types.
Type of Trading Accounts
Dukascopy Bank offers a range of trading accounts to cater to the diverse needs of traders. Here are the types of accounts that Dukascopy Bank provides:
Unlimited Demo Accounts: Dukascopy Bank offers unlimited demo accounts to its clients, allowing them to practice and test their trading strategies without risking any real money. These accounts are perfect for beginners who want to get a feel for the trading platform before investing in a live account. They are also useful for experienced traders who want to try new trading strategies.
Demo accounts (with a time limit): In addition to the unlimited demo accounts, Dukascopy Bank offers demo accounts with a time limit. These accounts are free to open and allow clients to trade for a limited period, usually 14 days. This type of account is ideal for those who want to try out the platform and test their strategies without committing to a live account.
ECN accounts: Dukascopy Bank's ECN accounts offer direct access to the market and allow clients to trade with other traders, institutions, and banks without any interference from a dealing desk. These accounts are designed for advanced traders who require fast execution speeds, deep liquidity, and tight spreads.
STP accounts: Dukascopy Bank's STP accounts use Straight Through Processing (STP) technology to send client orders directly to liquidity providers. This means no dealing desk is involved, and clients can trade with tight spreads and fast execution speeds. These accounts are suitable for both beginner and advanced traders.
Swap-free accounts: Dukascopy Bank also offers swap-free accounts for clients who follow the Islamic faith. These accounts do not charge or credit any interest on overnight positions, which complies with Sharia law. This type of account is suitable for those who want to trade without violating their religious beliefs.
VIP accounts: Dukascopy Bank's VIP accounts are designed for high-net-worth individuals and institutional clients. These accounts offer personalized services and competitive trading conditions, including lower spreads, higher leverage, and custom liquidity. VIP clients also have access to exclusive trading tools and services.
Segregated accounts: Dukascopy Bank offers segregated accounts to its clients, meaning that client funds are kept separate from the bank's funds. This provides an extra layer of security and protection for clients' funds in bankruptcy or insolvency. This type of account is ideal for clients who want to ensure the safety of their investments.
Dukascopy Bank offers flexible trading denominations that cater to traders' different needs. The minimum trade size for forex is 1,000 units, ideal for traders who prefer to start small. This means that traders can control their risks better and gradually build their confidence and experience as they grow their trading accounts.
For larger trades, Dukascopy Bank offers the option to trade up to 200 million units of the base currency. This is advantageous for traders with higher capital who wish to execute larger trades. The trading denominations for CFDs and commodities vary, depending on the instrument being traded.
Dukascopy Bank, founded in 1998, is a Swiss forex broker that offers online trading services to clients worldwide. The bank's full name is Dukascopy Bank SA, where "SA" stands for "Société Anonyme," the French equivalent of a public limited company. The company's name, Dukascopy, is derived from the Latin term "Ducas copia," meaning abundant leader, which signifies the company's mission to be a leader in the forex trading industry.
Dukascopy Bank is owned and operated by Dukascopy Group, which includes a range of subsidiaries and entities involved in various aspects of the trading industry. The Dukascopy Group includes Dukascopy Bank, Dukascopy Europe IBS AS, Dukascopy Japan K.K., Dukascopy Payments SIA, and Dukascopy TV.
Each subsidiary has a specific role in the company's operations and works together to ensure that clients receive top-tier services. The company's well-structured organization and experienced leadership team have contributed to its success and positive reputation among traders and industry experts, as reflected in the positive Dukascopy reviews.
Dukascopy Bank SA Customer Protection
Dukascopy Bank provides customers with several measures for their protection. As a Swiss bank, Dukascopy Bank is subject to the Swiss Banking Act, which protects customer deposits up to CHF 100,000. Furthermore, Dukascopy Bank is a member of the Swiss Bankers Association, which ensures that the bank adheres to high banking and customer protection standards.
Dukascopy Bank also provides negative balance protection, ensuring customers do not lose more than their initial deposit. Dukascopy Bank has a robust risk management system to monitor and manage any potential risks.
As for data protection, Dukascopy Bank follows the Swiss Federal Act on Data Protection, which ensures that customers' personal information is secure and protected. The bank also uses advanced encryption technology to safeguard customers' data.
Dukascopy Bank provides traders with comprehensive trading information to help them make informed decisions. These include trading instruments and trading education and training.
Forex: Over 60 currency pairs, including majors, minors, and exotic pairs.
Precious Metals: Gold, silver, platinum, and palladium against USD and EUR.
CFD Indices: 15 of the most popular global stock indices, including S&P 500, NASDAQ, and FTSE 100.
Commodities: Oil, natural gas, and agricultural commodities like corn, wheat, and soybeans.
Cryptocurrencies: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple.
Bonds: European, Japanese, and US government bonds.
Options: Vanilla options on currency pairs and gold.
Leverage on Dukascopy Bank
Dukascopy Bank offers maximum leverage of up to 1:200 for Forex trading. This means traders can control positions up to 200 times their account balance. However, the maximum leverage offered may vary depending on the account type and the traded instrument.
Traders need to understand the risks of high-leverage trading, as it can magnify profits and losses. Dukascopy Bank also offers lower leverage of 1:30 for trading cryptocurrencies due to their high volatility. Traders can adjust their leverage according to their risk tolerance and trading strategy.
Deposits and Withdrawals
Dukascopy Bank offers multiple deposit options for its clients, including bank wire transfers, credit/debit cards, and electronic payment methods such as Skrill and Neteller. The minimum deposit amount for new accounts is $1000. The table below summarizes the deposit options and fees:
Bank wire transfer
Dukascopy Bank processes withdrawals through the same payment methods used for deposits. The withdrawal fee varies depending on the payment method used. The table below summarizes the withdrawal options and fees:
Bank wire transfer
It is important to note that Dukascopy Bank only allows withdrawals to be made to accounts held in the client's name. Any third-party withdrawals are strictly prohibited for security purposes. The withdrawal processing time depends on the payment method used, but it typically takes 1-2 business days for electronic payment methods and up to 7 business days for bank wire transfers.
Dukascopy Trading Education and Training
Dukascopy Bank provides its clients with extensive trading education and training resources, reflecting its commitment to providing the best possible trading experience. The bank offers a range of educational materials on its website, including trading guides, video tutorials, webinars, and live events.
Clients can access these resources at no additional cost, making it easy for traders of all skill levels to learn and improve their trading strategies. The bank's training materials cover various topics, including technical analysis, fundamental analysis, risk management, and trading psychology, among others. This comprehensive training program sets Dukascopy Bank apart from other Swiss forex brokers and has earned it high praise in Dukascopy reviews.
How can I open an account with Dukascopy Bank?
To open an account with Dukascopy Bank, visit their website and fill out the online application form.
Is Dukascopy Bank a Scam?
No, Dukascopy Bank is not a scam. It is a legitimate Swiss bank that FINMA, the Swiss Financial Market Supervisory Authority regulates.
Dukascopy Bank is a reputable and reliable Swiss forex broker with a long-standing history of providing quality services to its clients. From Dukascopy reviews and ratings on various online platforms such as Trustpilot, Forexpeacearmy, and Compare Broker.co, it is evident that the broker has a solid reputation in the industry. The bank's strict regulation by FINMA provides clients with the assurance that their funds are secure and that they are dealing with a legitimate entity.
Dukascopy Bank offers a variety of trading instruments, trading accounts, and trading platforms that cater to the diverse needs of traders. The bank's customer service is responsive and efficient, and its educational resources provide traders with valuable insights into the forex market. The bank's transparent fee structure, including low spreads and commissions, makes it an attractive option for traders.