Regulators: FINMA, FCMC, FCA, JFSA

Cryptocurrencies: YES

Minimum Deposit: $100

Maximum Leverage: 1:300

Spreads: Low

My Score: 7.3

The Dukascopy forex broker comes from a company that dates back to the 90s. Dukascopy Trading Technologies Corp was founded in 1998 by the mathematician Dr. Andre Duka. Then the Dukascopy Trading Platform was developed by this company. Also in 2004 Dukascopy forex broker was founded by Andre Duka. In 2010, this brokerage acquired a banking license in Switzerland and started operating as Dukascopy Bank.

dukascopy spreads
Dr. Andre Duka

One of the points that I would like to mention when writing a Dukascopy review is the history and process of this broker.

One of the points that I would like to mention when writing a Dukascopy review is the history and process of this broker. Many investors are wondering about Dukascopy account types, spreads, bonuses and deposit and withdrawal methods. However, it is also important to know that the company is based on a technology company that develops the trading platform. This is also reflected in Dukascopy’s trading platform and conditions.

For this reason it is important to understand Dukascopy’s developmental process in order to understand this study.

As you can see in the table below, Dukascopy group consists of 3 subsidiary companies. One of these is Dukascopy Bank, the original company established in Switzerland in 2004. So it is regulated by FINMA, the Swiss watchdog.

Regulation

If you are reading this review, you are probably in the investigation of Dukascopy. But the information you find about Dukascopy on the internet is a bit confusing. Here I will try to explain it fairly simply and clearly.

dukascopy reviewThe company we know as a Dukascopy forex broker is actually a group of companies. There are 3 subsidiary companies in this group. The types of accounts, minimum deposits and maximum leverage offered by these companies are different. This actually exists in other forex brokers, but it is not confusing that the differences are at a lower level.

As you can see in the table below, Dukascopy group consists of 3 subsidiary companies. One of these is Dukascopy Bank, the original company established in Switzerland in 2004. So it is regulated by Swiss Financial Market Supervisory Authority – FINMA, the Swiss watchdog.

CompanyCountryRegulation
Dukascopy Bank SASwitzerland
FINMA
Dukascopy Europe IBS AS
Latvia and the UK
FCMC & FCA
Dukascopy Japan K.K.
JapanJFSA

The other, Dukascopy Europe, received a brokerage licenseby Financial and Capital Market Commission – FCMC in Latvia in 2011. This company also has a FCA license. Therefore, the company offers an advanced protection to its investors.

There is also a company regulated by the Japanese Financial Services Authority – JFSA for Japanese market. This company also emerged in 2015 with the acquisition of Alpari Japan.

All these licenses have been authorized by reputable regulators. FINMA, Swiss watchdog, has quite strict rules. FINMA regulated brokers have very difficult rules to achieve this license. For example, the company has to keep at least CHF 20 million as net capital. It’s about $20 million. In addition, investors’ funds are guaranteed up to CHF 100,000.

As you can understand from all of this, Dukascopy is a very reliable broker in terms of regulation and protection. Especially, FINMA-regulated Dukascopy Bank offers advanced reliability and protection to its investors.

Account Types, Minimum Deposit & Maximum Leverage at Dukascopy

Account TypeMinimum DepositMaximum LeverageSpreads & CommissionCompany
Standard$1001:3000.2 pips + $3,5 commission per lotDukascopy Europe
Standard$10001:1000.2 pips + $3,5 commission per lotDukascopy Bank

Although it offers high security and strong regulation, Dukascopy offers a very limited choice of account types. Actually, there’s only one type of account. However, the minimum deposit and the maximum leverage vary depending on the regulator.

dukascopy account typesIf you want to open an account with Dukascopy Bank which is a FINMA-regulated broker, the minimum deposit is $ 1000 and the maximum leverage is 1: 100.

However, if you want to open an account with the FCMC-regulated broker, the minimum deposit is lower and the maximum leverage is higher. In this broker you can open an account with $100 deposit and make trading confidently.

I can say that spreads are pretty competitive, but if you get higher funding, commissions will be also lower. For instance,  for $ 5.000 net deposit or equity, commission will be $3.3 per lot and $3 with $10.000 equity.

Payment Methods

One of the major disadvantages of Duaxscopy is that the methods of deposit and withdrawal are rather limited. You can only use the wire transfer or credit/debit card to deposit or withdraw money. Many other brokers have e-wallet options like Neteller or Skrill. Some brokers even have a cryptocurrencies option as payment methods such as bitcoin, ethereum.

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Dukascopy

7.3

Trust

8.5/10

Commissions and fees

7.0/10

Customer Service

6.0/10

Platform & Tools

6.5/10

Product Portfolio

8.5/10

Pros

  • Well-regulated broker
  • Tight spreads and low commissions

Cons

  • Payment methods are limited
  • Account types are limited
  • Minimum deposit is high in FINMA-regulated broker

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Vn14Trader

Trading forex for 6 year, worked with numerous forex brokers, I observe that Dukascopy is the best forex broker. Due to the fact that of below factors:

1- This is a reputable broker, Dukascopy is also a Bank, so you will not to worry about your fund. Strong regulated broker.

2- Dukascopy organizes numerous forex contests, so that Traders can make profit or practical experiences without taking any risk. They generate trading techniques thank to these contests.