Dukascopy Review: Features, Regulations and Fees
Dukascopy is the legit Swiss broker that has been working since 2004 and offers all the services on trading on international financial markets.
As I told you before there are thousands of brokers who offer you “the best services to become rich”.
But how to choose really the good one?
Safetrading will help you with that and today in this Dukascopy review we will talk about Dukascopy - a very interesting broker from Switzerland.
Let’s go!
What Is Dukascopy?
As I told you before in our
Dukascopy review, this broker has been working since 2004 so it has… 16 years of experience!
It’s a new record among our reviewed brokers!
The company
Dukascopy Bank was opened by two people from Russia - Andrey and Veronika Duka. The headquarters are in Geneva, Switzerland.
This company owns the following companies:
- Dukascopy Bank SA and is regulated by FINMA - Swiss Financial Market Supervisory Authority;
- Dukascopy Europe IBS AS and is regulated by FCMC - Financial and Capital Markets Commissions of Latvia;
- Dukascopy Japan K.K. and is regulated by JFSA - Japanese Financial Services Agency;
- SIA Dukascopy Payments and is regulated by FCMC.
We have important information for Dukascopy US clients - Dukascopy doesn't work with clients from the USA and Belgium!
The best thing I like about this company is that their website can be displayed in 16 languages ( English, French, German, Polish, Russian, etc).
But, if we compare their website with their competitors’ websites, we will see that it is a bit complicated to use. It is understandable but you need to spend some time looking for important info.
One more important thing for users!
All the clients’ deposits are insured by the Swiss government for 100,000 CHF for every client. During the Dukascopy Europe review, we saw that there is a guaranteed compensation of 90% of lost financial tools or losses that were caused due to the failure of investment services but it is not more than 20,000 EUR for every client.
One more interesting fact!
In 2019, Dukascopy Bank launched its crypto coin - Dukascoin.
Markets and Trading
With Dukascopy Europe you can trade on Forex, ingots of precious metals, binary options, CFDs on commodities, indices, and stocks.
There are different types of depositing - credit and debit cards, bank transfers, and bank guarantees.
We told you in the Dukascopy review that the minimal deposit for Dukascopy Bank SA is $1,000, but if you want to deposit $100 you need to choose Dukascopy Europe.
- Forex - up to 1:100;
- Precious metals - up to 1:30;
- Commodities CFD - 1:30;
- Indices CFD - 1:30;
- Bonds CFD - 1:30;
- Stocks CFD - 1:10;
- ETF CFD - 1:10;
- Cryptocurrency CFD - 1:3.
Now it is time to tell you a bit more about CFDs.
CFD (Contract For Difference) - is a financial instrument with the Dukascopy leverage that allows you to trade through price movements of indices, commodities, currencies, stocks, cryptocurrencies, etc.
As a rule, the CFD price shows the price of an underlying asset, but that is not entirely true. You need to remember that while trading CFDs you actually don’t buy and don’t own the asset.
Accounts
Dukascopy offers to its professional traders Forex ECN and CFD Accounts. The Dukascopy minimum deposit here is $1,000.
Not bad!
When you open Forex ECN or CFD Accounts, you will need to choose the type of Dukascopy Bank account you want to make - Individual Account (for 1 person), Joint Account (for 2 people), or Corporate Account ( for 1 legal entity).
If you want to test your strategy, you can open the 14-days Demo Account with the help of the JForex platform.
By the way, you are able to trade with the help of your mobile phone - Android and iOS.
What Is JForex?
This platform is for professional traders just because there are a lot of trading functions that a regular user can’t understand. But if you still want to use it, there are a lot of educational videos.
JForex features:
- 250 trading indicators and investigations;
- Economic Calendar;
- Multi-language and friendly interface, good support, etc.
Final Thoughts
Today in the Dukascopy review we discuss one more good broker - Dukascopy Europe leverage and its features.
Among the features we describe above, there are other ones: Dukascopy TV, Online Graphics, Technical Analyses, Currency Calendar, Forex Calculator, etc.
They have a lot of things to offer!
I like this broker.
The company is fair, I don’t see the red flags for users, that is why we can recommend Dukascopy.
If you are a newcomer, you can find a lot of educational materials and videos.
If you have questions, you can contact the support that is active 24/7.
I hope this Dukascopy review was very useful and helpful for you. If you want to go through other brokers and choose the best one for you, you can read
IC Markets or
Pepperstone review.