DUKASCOPY Review

Trading in precious metals and foreign currency are both available to retail and institutional clients through Dukascopy. The following characteristics can be found in the internet trading service:

 Equal quotes and liquidity for all its clients

Enables a wide variety of trading strategies, including scalping, news trading, and many more

CHF, GBP, CAD, DKK, HUF, JPY, NOK, PLN, RUB, SEK, TRY, ZAR, USD, EUR, AUD, CZK, HKD, ILS, MXN, NZD, RON, CNH, SGD, and XAU are some of the currencies that are supported.

A wide variety of payment options, such as direct bank transfers, bank guarantees, and credit and debit cards

Up to CHF 100,000 in insurance against the possibility of insolvency for each individual customer

The minimum deposit required by Dukascopy Europe is US$100, while the minimum deposit required by Dukascopy Bank SA is US$1000.

Trading is open for business around the clock on the majority of instruments.

DukasCopy Awards

The following are only some of the 21 accolades that have been bestowed upon Dukascopy by their peers in the industry:

The Finest Trading Platform & Tools Offered by Forex Brokers (2018)

ForexBroker Best Mobile Trading (2018)

• The Most Reputable Foreign Exchange Bank Representing China (Shenzhen) Forex Expo (2018)

The Best Forex ECN/STP Broker, Awarded at the London Forex Show (2018)

Winner of the IAFT Award for Outstanding Liquidity Provider (2017)

• The Best Internationally Oriented Professional Trading Platform at the China (Shenzhen) Forex Expo (2016)

Reputable and Dependable – Taking Care of Our Customers’ Safety Measures

In order to ensure the safety of its customers, Dukascopy Bank has implemented a variety of preventative measures. The foreign exchange broker is a member of esisuisse and has also signed the Convention of Swiss Banks and Securities Dealers Regarding the Insurance of Deposits. This means that it follows the same deposit insurance rules as the rest of the banks and securities dealers in Switzerland.

Insurance on Deposits – As was noted earlier, the deposits of each customer are covered up to a maximum of 100,000 Swiss Francs. However, clients of Dukascopy Europe are covered up to a maximum of 20,000 Euros in accordance with EU legislation.

In addition to this protection, trader deposits at Dukascopy Bank are safeguarded by the bank’s diligent management of both its liquidity and its assets. It does not hold any dangerous securities or real estate properties, and it does not extend credit to customers.

Dukascopy Bank SA provides a service known as Stop Loss for its customers. As a result, customers have the ability to set a stop loss. In the event that their account hits this predetermined level of loss, all transactions will be disabled and any open positions will be canceled immediately to prevent any further erosion of their financial position.

Slippage Control – Slippage control is a feature that gives clients the ability to determine well in advance the maximum amount of slippage that can have a negative influence on the price at which an order is executed. This is an excellent risk management strategy that makes it possible to trade safely on markets that are turbulent.

Dukascopy’s policy on dormant accounts advises customers to avoid letting their accounts become inactive for an extended period of time. According to the law, the foreign exchange broker is obligated to notify any inactive accounts that contain more than CHF 100 to a data bank that is exclusively accessible by the Swiss Banking Ombudsman.

Account maintenance costs for dormant accounts are set at CHF500, with the maximum amount that can be charged never surpassing the account balance. In addition, owners of dormant accounts are responsible for paying any fees that may have been paid by Dukascopy Bank as a result of the bank’s efforts to track down the owner of the dormant account.

How to Open an Account: A Guide to the Different Types of Accounts

At Dukascopy Bank, you have the option of opening one of three primary types of accounts: an MCA Account, a Demo Account, or a Live Trading Account.

Account of the MCA

The process of opening a Mobile Current Account (MCA) is broken down into the following steps:

Please fill out an online form.

Please prove your identity.

A minimum age of 14 years old is required for account holders, and the process only takes a few minutes to complete. The customer chooses the time and day for the identity verification videoconference, and it is held at their convenience. In order for the video identification to be successful, the applicant’s identification document or passport needs to have a machine reading zone.

Free Trial Account

You have the option of opening a demo account for trading CFDs and FX. This demo account is available for use for a period of fourteen days and includes the following features:

ECN liquidity provided by a number of different banks

Transparent pricing environment

Leverage that can go as high as 1:200

Spreads beginning at 0.1 pip in increments

Fair and equal trading opportunities for everyone

Coverage for deposits of up to 100,000 Swiss Francs

You will need to complete a short online registration form in order to get started with a demo account. You also have the option of opening a demo account with binary options and subscribing to the Dukascopy Forex Overview. After providing your information, you will be prompted to click the Get Demo Account button, which is shown in a green box.

Live Trading Account

If you feel that you are prepared to engage in live trading, there are three actions you need to take to open a live trading account:

In order to register, you will need to fill out a quick online form.

Please provide proof of your identity. You should check your email for more instructions regarding this matter. There is also the option of video identification, which takes about fifteen minutes to complete. If you want to use video identification, you will need to get the Dukascopy Connect app on any mobile device you use to access the platform. This application can be downloaded from either the Apple Store or the Google Play Store.

Add money to your account.

In addition, the following kinds of accounts are available to customers at Dukascopy Bank:

Golden Memberships

The broker makes it possible for its customers to open both current accounts and self-trader accounts denominated in non-deliverable gold. An option to actually purchasing gold in physical form is to do it through the opening of a gold account. It gives the holder of the account the ability to own gold without the necessity of really storing it and guarding it. However, owners of gold accounts are required to pay monthly custodial fees.

Account holders are only able to withdraw the monetary equivalent of their holdings in gold from their accounts; they are not permitted to withdraw any actual gold. You can speak with your account manager about establishing a gold account if you are interested in doing so.

Wealth Management Provided by LP PAMM

Customers of Dukascopy Bank have the possibility to increase their income by taking on the role of liquidity providers on the bank’s SWFX market. Traders who are interested must open an account with Dukascopy Bank, deposit at least one thousand dollars in that account, and then let the bank handle the rest of the transaction.

After that, Dukascopy will synchronize the investor’s sell transactions with the buy trades of its other customers at the same ask price. It will do this by matching the buy trades made by investors with the sell deals made by its other customers at the same bid price. Therefore, the investor becomes a provider of liquidity and is given the opportunity to receive a portion of the money that is generated.

Balances of Current Accounts

Standard Current Account (SCA) and Mobile Current Account are the two varieties of current accounts that can be held with Dukascopy Bank (MCA). Each one comes with its own set of benefits and services.

Offers of Bonuses and Instructions for Claiming Your Bonus

There are four different kinds of bonus programs offered by Dukascopy:

Equity Bonus — Clients who have self-trading accounts are eligible to receive a bonus equal to 10% of the equity in their accounts. If you are interested in receiving this bonus, you must submit your application within the first thirty days after making your most recent deposit. It is recommended that the bonus be cleared within one year of receiving the bonus amount and that the required traded volume be 30,000 times the entire account equity.

Self-trading account users are eligible to receive a 20% discount on commissions through the Discount Program. However, customers must submit their application for this reduction within the first thirty days of making their most recent installment. The minimum amount of volume that must be traded is 30,000 times the account equity, and it must be completed and cleared within one year after registering for the discount program.

Traders have the opportunity to receive a reward through a program called the Experience Sharing Program if they tell their friends and acquaintances about their interactions with the broker. They are only able to activate this program if they have live trading accounts in their names.

Anniversary Bonus — In honor of Dukascopy’s 11th anniversary, the company is providing all of its customers with a bonus equal to 100% of the equity in their accounts. They have thirty days from the time of their most recent deposit to submit their application for this bonus. This bonus offer has a necessary traded volume of 50,000 times the total account equity, and it must be cleared within one year of earning the bonus in order to be eligible for the bonus.

Financial Tools Used in Trading

The following financial products are available for trading through Dukascopy Bank:

Forex

CFDs

Binaries

Cryptocurrencies

Buying and Selling Platforms

A variety of trading systems, including access to the Swiss Forex Marketplace, are made available to clients by Dukascopy Bank (SWFX). Because of the way these platforms were developed, traders are able to readily make decisions and execute on those decisions regardless of the market conditions. Trading orders such as Stop, Limit, Market, Take Profit, Trailing Stop, Stop Limit, Stop Loss, Place Bid/Offer, and others are all supported by them. They provide a hedging trading mode in addition to a net position trading option.

The following is a concise rundown of the many trading platforms that are available with Dukascopy:

Platform for jForex

It is highly recommended for automated trading as well as manual trading, and it has been built specifically for traders interested in auto trading as well as testing trading techniques. These are some of its features:

Trading via automated systems, charts, and human intervention

Economic calendar

Trading that is done automatically

250 different types of chart studies and indicators

Assistance with add-ons and plugins

Assistance for a wide variety of languages

Renko charts, line break charts, point figures charts, and range bar charts

jForex Web 3

This is a platform that runs in a browser and has the following features:

Trading with charts and by hand

46 research and indicators based on charting

Trading that is done automatically

Real-time updates on economic calendars and market news

Fewer requirements in terms of technology

Assistance for a wide variety of languages

Gain rapid access

Platforms for Traders Using Mobile Devices

You have the option of using jForex Trader on either your iOS device or your Android device. Both apps are compatible with Internet connections made by Wi-Fi, 3G, and Edge networks. Additionally, they have all of the features that are available on the other trading platforms that are offered by Dukascopy.

A Platform Called MT4

Traders from all over the world use the MetaTrader 4 trading platform, which has proven to be the most successful of its kind. Its primary characteristics consist of expert advisors and templates that may be modified in a straightforward manner (EAs).

Education Regarding Free Trade

If you are a new customer who wants to improve your skills and learn new trading tactics, Dukascopy Bank is a wonderful resource for you to utilize. The following are some of the resources that are provided for traders to use in order to educate themselves.

Wiki: The Wiki is where many well-known articles on the fundamentals of trading may be found.

Video Tutorials – Choose from a comprehensive library of video tutorials that explain how to utilize a variety of trading platforms and how to create an efficient trading strategy.

Seminars – The Dukascopy Bank holds seminars on a consistent basis in a variety of places throughout the world.

Webinars – If you want to learn more about how to make profitable trades, you can subscribe to webinars offered by Dukascopy.

Dukascopy TV – In addition, there is the Dukascopy TV, which offers a variety of programming including music, interviews, forex and markets, projections and analyses, how-to videos, and amusement and enjoyment.

At Dukascopy.com, you won’t have any trouble finding the trading tool that you need. You have the option of selecting from the following:

Data tools for website administrators

• Index of currency values
• Online charts
• Charts of Time (CoT)
• News available online
• Dukascopy TV
• SWFX Sentiment Index
• Market Place for SWFX ECN
• Monitor of the Market
• Real-Time Feed of Historical Data
• FX Market Signals
• Metrics and Analytical Tools
• Trading breaks Calendar
• Position Size Calculator
• Forex Calculator
• The Trading of Currency
• Highs and Lows of the Day

Information Relating to Banking

The following procedures are available for customers of Dukascopy Bank to use in order to fund their trading accounts:

Electronic Funds Transfer

• Credit/debit Cards
• Bitcoin

The broker also provides clients with bank guarantees, which enables customers to store their funds in a financial institution of their choosing and obtain access to those funds at any time.

FAQ

Which trading platforms are compatible with the DukasCopy software?

MetaTrader 4, WebTrader, JForex, Android App, IOS App.

When opening an account with DukasCopy, what is the bare minimum amount that must be deposited?

100 USD.

Final Thoughts on DukasCopy

When it comes to internet trading, DukasCopy Bank is a site that is well regarded, licensed, and stringently regulated. Your deposits are protected, and you have access to a number of enticing features and benefits, including bank guarantees, superior training materials, cutting-edge trading tools like Dukascopy TV, and a selection of web-based and mobile trading platforms from which to pick. There are some drawbacks, such as a limited selection of products, but the advantages of opening an account with Dukascopy far outweigh these.

We recommend that you investigate this Forex broker on your own by following the link provided in this sentence. At Dukascopy, opening a demo account that lasts for 14 days is completely free of charge.