Dukascopy
Published: Updated:
- Trust score
- 8/10
- Legal simplicity
- 4/10
- Min. deposit
- 100
- Payment systems
- Instruments
- Forex, Metals, Indices, Commodities, Energies, Stocks, Bonds, ETFs, Cryptocurrencies
- Legal entity
- Dukascopy Bank SA
- Jurisdiction
- Switzerland
- Fees
- Dukascopy charges commission on volume against raw interbank spreads, with the rate falling as monthly volume rises. There are no marked-up spread accounts; the cost is explicit and published as a commission schedule.
- Withdrawals
- As a licensed Swiss bank, Dukascopy processes withdrawals by bank transfer to an account in the client's own name, typically within one to two business days. Transfers carry standard bank charges.
- Available in
Features
- Seminars and trading education
- Daily market analysis
- Low $100 minimum deposit
- PAMM accounts
- Copy trading
- Trust management accounts
- Islamic (swap-free) accounts
- ECN accounts
- Scalping allowed
- Affiliate program
- Wide range of trading instruments
Pros
- One of the most reliable banking brokers
- Transactions are executed very quickly
Cons
- Registration and verification with the broker are difficult
Dukascopy Bank SA is a Swiss online bank and broker based in Geneva, founded in 2004. It is regulated by FINMA in Switzerland, the Japan FSA, and Latvia's Financial and Capital Market Commission (FKTK). Trading runs on the broker's own JForex platform or MetaTrader 4, covering forex, CFDs, binary options, stocks, ETFs, commodities, bonds, indices, and cryptocurrencies.
Swiss FINMA-regulated bank-broker offering JForex and MT4 trading, PAMM and copy-trading services, and 500+ instruments from a $100 minimum deposit.
Overview
Dukascopy Bank SA is a Swiss online bank and Forex/CFD broker based in Geneva, founded in 2004. It is regulated by the Swiss Financial Market Supervisory Authority (FINMA), the Japan Financial Services Agency (FSA), and Latvia's Financial and Capital Market Commission (FKTK).
Trading platforms
JForex
JForex is Dukascopy's own platform, accessible through browsers such as Chrome, Safari, and Opera with no download required. It supports manual and chart-based trading, over 68 indicators and chart studies, automated trading via a Strategy Server, and a multi-language interface.
MetaTrader 4
Dukascopy also offers MetaTrader 4 (MT4). MetaTrader 5 (MT5) is not supported.
Mobile trading
iOS and Android apps include integrated market signals, customizable alerts, chart trading, and 46 technical indicators.
Trading instruments and conditions
Dukascopy lists over 500 tradable instruments: forex, CFDs, binary options, stocks, ETFs, commodities, bonds, indices, and cryptocurrencies. Average spreads on popular currency pairs run around 0.3-0.4 pips with a default commission of 0.7 pips; both spreads and commissions are tiered, improving with higher trading volume.
Leverage
Standard leverage for retail accounts goes up to 1:100, with the option to extend it to 1:200.
Cryptocurrencies and other features
Dukascopy has received industry awards, including Best Forex Trading Apps and Binary Options Broker of the Year. Its cryptocurrency offering covers CFDs on Bitcoin, Ether, and Litecoin.
Education and customer support
The broker provides seminars, webinars, daily market analysis, and educational materials for traders at all experience levels, backed by responsive multi-channel customer support.
Fees and fund security
Trading costs consist of spreads and commissions, alongside charges such as inactivity fees. Client deposits are insured up to EUR 100,000.
Verdict
Dukascopy is a well-regulated Swiss broker with a broad range of instruments and platforms, backed by strong regulatory oversight from FINMA, the Japan FSA, and Latvia's FKTK.
Trading conditions
Dukascopy is a Swiss bank rather than a brokerage, which changes the structure of the relationship: client money sits with a licensed bank supervised by FINMA and covered by Swiss depositor protection up to the statutory limit, rather than in a segregated account at a third-party institution.
Execution runs on the SWFX Swiss Marketplace, an ECN model aggregating bank and institutional liquidity with published depth. Pricing is raw spread plus commission on volume, and the commission schedule is public rather than negotiated. JForex, the bank's own platform, supports Java-based automated strategies and offers considerably deeper API access than MetaTrader.
Leverage is capped at 1:200 for retail clients on the Swiss entity, well below offshore levels and above the European 30:1. Positions are marked against the ECN book rather than an internal dealer.
Verification
Onboarding is a bank account opening rather than a broker signup, and it is correspondingly heavier: identity documents, proof of address, and source-of-funds and source-of-wealth information are required, with a video or in-person identification step. Expect several business days rather than minutes.
The compensating benefit is what the account is: a Swiss bank account with FINMA supervision and depositor protection, which no offshore broker can offer at any level of documentation.
