Pros & cons of Dukascopy broker

Dukascopy Fact sheet

Dukascopy is regulated by FINMA, a Swiss Financial Market Supervisory Authority, and the regulator is one of the most reputable financial regulators in the world. The broker is also regulated by the Japanese Financial Services Agency or FSA. Dukascopy also offers negative balance protection, preventing its clients from going into negative account balances due to leveraged trading. Additionally, all client funds are kept in segregated bank accounts with tier-1 banks. All accounts are insured for up to 100,000 CHF and the broker is part of a compensation fund in case of insolvency, which is pretty unlikely. 

There are three accounts for MetaTrader 4 (MT4) and the JForex platforms, and one for binary options. The accounts are Jforex, MT4, and Binary options accounts. All the accounts for Forex and CFDs come with similar terms and conditions, the difference only being in the trading platform which is used for trading. This is different for binary options, as the platform offers put and call options for binary options and is severely limited, set up more like gambling than trading. 

Pros & cons of Dukascopy account types

Comparing Dukascopy fees with other brokers

Dukascopy fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

**Dukascopy does not charge fees, but its partner bank charges 2% fees on card transactions

Dukascopy fees compared to CM Trading fees

fees compared to plus500 fees

Dukascopy fees compared to XM fees

Dukascopy fees compared to AvaTrade fees

Dukascopy fees compared to Capital.com fees

There are a few trading platforms offered by Dukascopy, namely JForex, MetaTrader 4, and two other proprietary mobile trading apps for both Android and iOS. The MT4 from Dukascopy has all the features enabled including EAs (Expert Advisors), hedging, and scalping. The broker allows all trading methods and charges extremely low spreads and fees for trading activities. Although there are two different commissions applied to Forex trading with MT4, namely a 3.5 USD round turn per 100k traded, and 0.5 USD per 100k for MT4 fees, it is still within the industry average and not high. With 0.1 pips spread on major pairs, this is one of the lowest spread plus commissions on the market. Other trading platforms like JForex and mobile apps are inferior software when compared to the MT4 platforms, but these others still pack a punch as they offer all basic trading and chart analysis capabilities. In fact, JForex has a number of advantages as it offers an inbuilt economic calendar, plugin support, and automated trading support. It is also possible to test strategies on historic data automatically on the JForex platform. Add to this there are 250 inbuilt indicators allowing traders to perform at their fullest on Dukascopy’s platforms. Both JForex and MT4 are available for mobile devices and offer full chart analysis capabilities together with trading abilities and features like stop-loss, take-profit, market order, and pending orders. 

All educational materials in all forms are provided by Dukascopy for its advanced and beginner traders. Video tutorials, trading courses, and a diverse set of webinars about trading various markets are available and free at the broker’s website. The website is well-arranged and educational tutorials are available below each asset class offered by the broker. Video tutorials are probably the easiest way to learn about each asset and its peculiarities. When it comes to market research tools Dukascopy has a vast number of tools offered for free. An economic calendar, daily analysis, currency converter, and many other tools are available all the time. The broker even offers a Dukascopy TV widget to website builders to embed on their sites through which the broker offers top-quality content about financial markets and other related topics. Dukascopy also focuses on building a community by offering blogs and various trading contests. 

Customer support is excellent and all types of it are available. But the live chat which is multilingual is the best option to connect with the broker faster than other forms like email, phone calls, or online forms. Dukascopy has knowledgeable personnel, as you would expect from a bank and broker of this caliber. The fact that support is available in more than 5 languages shows how serious the Dukascopy is. 

Dukascopy is a reputable Forex and CFD broker backed by a Swiss bank with a strong safety record, making it one of the safest ways to trade Forex and other financial products. The broker offers ultra-low spreads and average commissions and has a diverse range of trading platforms, market research, and educational tools. However, there are fees for withdrawals and inactivity fees that could be a disadvantage for some traders. The broker is regulated by FINMA and offers negative balance protection as well. There is an option to open a trading account with just 100 USD and leverage goes up to 1:200, with the minimum lot size being 0.01. Overall, Dukascopy is a great choice for traders who prioritize safety and security, and for those looking for low spreads and diverse asset classes.