Founded in 2004, Geneva-based Dukascopy.com Bank now offers a full range of banking services in an addition to a large brokerage operation focused primarily on contracts for difference (CFDs). They also own and operate the unique Swiss FX Marketplace (SWFX) ECN. Separate divisions in Geneva, Switzerland and Riga, Latvia provide services for Switzerland (which is not an EU member) and the rest of Europe.
The broker offers a wide variety of services and features that are designed for both beginner and professional traders. This includes access to Forex ECN trading through the Swiss FX Marketplace (SWFX), CFD trading on Stocks, Indices, Commodities and Cryptocurrencies, as well as access to Binaries trading.
On-line Currency forex trading with Swiss Forex Broker – Dukascopy.com Forex Brokerage, Managed Forex Accounts, introducing forex brokers, Currency Forex Data Feed and News Currency Forex Trading Platform provided on-line by Dukascopy.com All trading related information on the Dukascopy website is not intended to solicit residents of Belgium, Israel, Russian Federation and Canada (including Québec). In general, this website is not intended to solicit visitors to engage in trading activities. Leveraged margin trading and binary options entail a high risk of losing money rapidly.
To Start Trading With Dukascopy.com Indian Residents First Have To Sign Up For An Account By Following The Steps Below.
Step 1. Click On The “Login/Signup” Link On The Top Right Hand Corner Of The Dukascopy.com Website.
Step 2. In The Form, Fill In Your First Name, Last Name, Mobile Number, Email ID And Password.
Step 3. If You Have A Referral Code, Enter The Code While Creating Your Account.
Step 4. Submit The Form And Wait For An Activation Email To Be Sent To You.
Step 5. Click On The “Confirm Email” Link In The Activation Email.
Step 6. After Your Account Is Activated, You’ll Be Sent A 6 Digit One Time Password (OTP), Which You Have To Enter After Logging Into Your Dukascopy.com Account.
Commissions and Fees
Dukascopy Forex Commissions and spreads are calculated through a declining tier system, with clients categorized by monthly trading volume, net deposit, or bottom-line equity. Dukascopy Bank bases segmentation on the highest of the three values in case of a conflict. Commission costs are clearly documented next to each tier on a trading fees page, but finding average spreads requires a review of daily, monthly, or quarterly SWFX execution data through a widget. That information should be also documented on the trading fees page because it can represent a healthy reduction in transaction costs.
The broker charges a $20 fee in addition to possible bank or credit card charges for withdrawals, one of the highest among European brokers. Withdrawal fees are disclosed on a fee schedule page that’s separate from the trading fees disclosure. Withdrawal procedures are buried within a supplementary wiki, which lowers trust levels because it fails to disclose the fee or how long it takes for clients to receive funds.
Dukascopy Bank has a regulated capital of about CHF 40’000’000 and provides trading services based on the following main principles:
Equal Trading Rights
All clients have equal possibilities to provide and consume liquidity within the trading environment (marketplace business model).
Dukascopy.com clients have access to the same liquidity at equal prices through a single datafeed. Whilst developing its unique trading environment and providing professional CFD / Forex trading services Dukascopy Bank has chosen the following priorities:
Attractive spreads (spread for EUR/USD and USD/JPY from 0.1 pips)
Wide range of trading orders (including stop-loss and limit)
No price and execution manipulations
Equal prices and liquidity for all clients
Automated trading based on jForex API and FIX API
Regulated By FINMA
Dukascopy Bank is regulated by FINMA as a bank and a securities firm. This information is verifiable on the FINMA’s website.
Yes, like any bank and any securities firm in Switzerland, Dukascopy Bank is required to sign the Self-regulation «Agreement between esisuisse and its members». This means clients’ deposits are protected up to a maximum of CHF 100,000 per client. Medium-term notes held in the name of the bearer at the issuing bank are also considered deposits. Depositor protection in Switzerland is provided by esisuisse, and the depositor protection system is explained in detail at www.esisuisse.ch.
Market order is an order to buy or sell an instrument at current market price. Market orders are executed according to bids and offers available in the market depth, which indicates volumes available for each price level. When a trade is placed at market and the order amount is larger than the volume available at the price displayed on the platform (best available price), the execution of the remaining amount is split according to next levels of the market depth. For market orders, a maximum slippage value is applied by default unless a slippage value is set by the trader. Should the market price slip more than the specified level, the market order will be automatically rejected without further resubmission.
The proprietary Dukascopy.com desktop platform includes hundreds of indicators, advanced charting, historical testing, real-time news, and embedded customer support. On the other hand, customization is weak, with no ability to pop out charts or build complex desktops and watchlists. The web version of the Java-based software triggers security warnings in Chrome and other browsers, but a standalone version requires no Java installation.
The web version is also hampered by a reduced feature set that includes less than 50 indicators. Order types are too basic in all platforms, lacking sophisticated conditional routing found at rival European brokers. Metatrader 4 offers an alternative but lists fewer currency pairs while incurring higher commissions.
Dukascopy.com mobile versions allow easy synching between platforms with well-organized menus but fewer charting features and limited customization. Order types are too basic, like desktop and web versions, with limited conditional routing. There’s no two-tier authentication, and the broker charges fees if clients process more than 20 SMS message alerts per month. This is a throwback to an earlier Internet era, with little or no justification in 2019.
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