Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

Dukascopy Bank SA Review

4
10 reviews
PAYMENT SYSTEMS
  • Deposit
  • Withdrawal

Dukascopy Bank SA general information

Founded in: 1998 year
Headquarters:
Switzerland
Offices in the country:
Hong Kong, China, Latvia, Malaysia, Russia, Ukraine, Japan
Minimum Deposit: 1000 $
Website: www.dukascopy.com
Website languages:
English, Arab, Spanish, Italian, Chinese, Korean, Deutsch, Polish, Portuguese, Russian, French
Execution model:
ECN
Deposit currency:
USD, EUR, JPY, GBP, AUD, CHF, CAD, MXN, NZD, SEK, RUB, HKD, SGD, TRY, PLN
Support languages:
English, Arab, Hungarian, Spanish, Italian, Chinese, Korean, Deutsch, Persian, Polish, Portuguese, Romanian, Russian, Slovak, Thai, Turkish, French, Czech
Regulated by: FINMA (Switzerland)
Mobile trading: iOS, Android
Types of offered accounts:
Unlimited Demo Accounts, Demo accounts (with a time limit), ECN accounts, STP accounts, Swap free accounts, VIP accounts, Segregated accounts
Trust management: PAMM
Affiliate program: 1
Deposit bonus: 100 %
Get a 100% Welcome bonus to your account.

Dukascopy Bank SA Forex broker description

Pros

  • Regulated and Reliable: Dukascopy Bank is regulated by the Swiss Financial Market Supervisory Authority (FINMA) and has a solid reputation for reliability and stability.

  • Competitive Spreads: Dukascopy Bank offers competitive spreads, starting from as low as 0.2 pips on major currency pairs.

  • Multiple Platforms: Dukascopy Bank offers multiple platforms including JForex and MetaTrader 4, available in desktop, web, and mobile versions.

  • Strong Customer Support: Dukascopy Bank provides strong customer support with multiple language options, phone, email, and live chat support, and a physical headquarters in Geneva, Switzerland.

  • Wide Range of Assets: Dukascopy Bank offers a wide range of assets, including forex, indices, commodities, stocks, bonds, and cryptocurrencies.

Cons

  • Limited Availability: Dukascopy Bank has some restrictions on the countries it accepts clients from, which may limit its availability to some traders

  • Commission on Trades: Dukascopy Bank charges a commission on forex and precious metals trades, which may make it less attractive to traders who prefer to avoid commissions.

  • Complex Trading Platforms: Dukascopy Bank's trading platforms can be complex and may take time for new traders to learn.



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.


Introduction

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.


Supported Countries

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.


Trading Denominations

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.


Company Structure

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.


Trading Information

Dukascopy Bank provides traders with comprehensive trading information to help them make informed decisions. These include trading instruments and trading education and training.


Tradable Instruments

  • 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

Deposits

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:

Deposit Method    

Fee

Bank wire transfer    

Free

Credit/debit card    

1.2%

Skrill    

1%

Neteller

1%

Withdrawals

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:

Deposit Method    

Fee

Bank wire transfer    

$20

Credit/debit card    

2%

Skrill    

1%

Neteller

1%

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.


FAQs

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.


Conclusion

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. 

Trading accounts of Dukascopy Bank SA

  • ECN Account
Trading platforms: Jforex
Minimum Deposit : 1000 $
Deposit currency :
USD - US Dollar
EUR - Euro
JPY - Japanese Yen
GBP - British Pound
AUD - Australian Dollar
CHF - Swiss Franc
CAD - Canadian Dollar
MXN - Mexican Peso
NZD - New Zealand Dollar
SEK - Swedish Krona
RUB - Russian Ruble
HKD - Hong Kong Dollar
SGD - Singapore Dollar
TRY - Turkish Lira
PLN - Polish Zloty
Trading instruments:
Forex1:200
CFD's1:10
Amount of assets : 1168
  • Promotions
  • Indices
  • Products
Metals1:200
  • Gold
  • Silver
Energy sources1:200
  • Oil
  • Gas
Binary Options
Stop Out:
200 %
Minimum position size:
0.001 лотов
Maximum position size:
250 лотов
Max. number of orders:
200
Execution type:
Market Execution
Swap Free:
Yes
VIP Account:
Yes
Spread type:
Floating
Decimal places:
5 characters
Margin Call:
100 %
Commission:
10-35 $ for 1 million USD
Phone trading:
Yes

Contacts of Dukascopy Bank SA

Headquarters
Швейцария , GenevaRoute de Pré-Bois, 20
show on the map
+41227994888
Представительство
Россия , МоскваМ. Черкасский пер., 2
show on the map
+74956428121

Recent customer reviews of Dukascopy Bank SA

Glenn Ramirez 03 January 2023

Advantages: Auto trading, satisfying user interface

Disadvantages: Useless customer support, high trading commission

Comment: Customer support there tries to help, but in most cases, it's all for nothing. Moreover, there's high trading commission per lot, and it's not worth it. There are many brokers that provide better trading conditions, so if you're looking for a good broker - this one may not be the best option. Auto trading there isn't bad, but it doesn't cover all the disadvantages.

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Jing Oanh 21 October 2023

stuck in a financial storm with no way out ? the story of my recovery starts with cp-i n v e s t i g a t i o n. c 0 m they provide the umbrella i needed to shield me from this scam broker that had scammed me. They helped me navigate my finance , and got me the justice i deserved . I highly recommend them to everyone!!!

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Tracy Lazor 07 December 2023

My account numbers are 414277 and 415506, and I have a total of $975,481 in my account. When I withdraw in February today, they found reasons to refuse my withdrawal. I found Eightcap's customer service and account manager through the background in the early stage, and they replied that they would help me deal with it. After a month or so, they find various reasons to prevaricate, and they have been emphasizing that please be patient, the financial team is dealing with it, it has been a few months, haven't it been dealt with? Since I can make withdrawal from my earnings on benarmstrong-trades i don’t see reason to continue here. I am now disappointed with Eightcap company, their way of dealing with it is to keep shirk, making me physically and mentally exhausted, please customers take a warning, now I just want to get my money that should belong to me .  Anyone else out there who has suffered significant financial losses as a result of fraud? For assistance, kindly go to cp-investigation  . c o m right away. Do not let the perpetrators of these scams get away with ruining you financially. Get the peace of mind you deserve .

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Arman Grigoryan 26 March 2022

Advantages: Online

Disadvantages: Indiscrimination

Comment: The bank block my cards after I ordered and paid for it, the client service listen to to you and do the opposite.
They cancel me because of nationality.
I just escape the russian dictatorship so dukascopy bank doing great job to help to punish those who flee tyrant.

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Mark Hamilton 19 March 2018

Advantages: Smart support, reliability

Disadvantages: I haven't found them

Comment: I have been trading here for almost one year. During this term, I hadn't any problems, because all of them were fastly resolved by support.
The best sides of that broker are constantly improving execution and very high level of quality like a usual swiss bank. I'm really satisfied by the work of this organization.

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Dukascopy Bank SA bonuses, contests and promotions

All bonuses, promotions, contests Dukascopy Bank SA
Offer type : Promotions(until 01.01.2024)
$100 referral gift - Dukascopy

Existing clients of Dukascopy have the chance to receive up to $100 gift for every friend referred. This is a great opportunity to maximize their tr ...

Dukascopy Bank SA categories


Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.