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Dukascopy.com Review

Overall Rating: (3.629)
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Total Reviews: 136
Last Updated: 2015-05-14
Description: Dukascopy is an online forex broker and is registered as a Swiss bank. Dukascopy offers the MetaTrader 4,SWFX mobile, and JForex onlin currency trading top platforms. Dukascopy.com offers over 50 currency pairs for your personal investment and trading options.
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FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2006-02-12
Review: We do not have any experience with this broker. If you have used them, please kindly submit your review above.

Andrey, UA, Ukraine

Rating:
Date of Post:2015-05-06
Review: site is down platform is down...again..wtf?????????? i am very disappointed..

2015-04-09 3Star I could`t connect to my account in Dukascopybank through mobile app within a few hours. Internet connection from my side was ok. And i was in position. Connection recovered as soon as my position became unprofitable )) probably it`s just coincidence but very strange. I`ve never expirienced such problems with mt4 brokers.
All the other things are ok with this broker. No slippage occured. One tiny withdrawal was in my account on the third day
p.s. they apologized by chat for technical issues
 
Comment: Added by Laurent Bellieres on 2015-05-22 10:04
  Dear Andrey,
All brokers may experience technical issues. However, Dukascopy Bank and Dukascopy Europe provide 24h/24 assistance and trading by phone which allow you to manage your positions including when online platforms are unavailable. Please take note of this since it is very important. We expect you to call our Support Desk without delay if technical issues affect your ability to trade.
Yours sincerely
Laurent Bellières

Elias Riaño, Zürich, Switzerland

Rating:
Date of Post:2015-05-03
Review: I live and work in Switzerland. I can recommend Dukascopy Schweiz. I could write one page of positive features like liquidity, margin, spread, tick speed and exchange rate. But you look at the chart of AUD/USD the 29.04.15 M15 chart at 23:45 UCT+1 (Berlin,Amsterdam). Admiral Markets ECN = GAP. Dukascopy = no GAP. Btw: one of the liquidity providers of Dukascopy seems to be FXCM (according to a google search). I give an excellent rank to Dukascopy.

Name Removed, UK, United Kingdom

Rating: No Rating
Date of Post:2015-03-20
Review: Apology to Dukascopy

I have spoken with Dukascopy, everything was explained and clarified to me and I am absolutely certain that Dukascopy did not do and is not doing anything wrong.
There was a misunderstanding there.

I should have spoken with Dukascopy first instead of jumping into “conspirational conclusions”

In a fact I have reason to believe that Dukascopy is one of the most ethical brokers out there, perhaps even the most ethical one.

Dukascopy is the only broker who offers possibility to chose between bid and ask price when placing stop loss order therefore the stop loss could not be hit by spread widening (sometimes seen as possible stop loss hunting in other brokers) if this feature is used in a correct way.

Dukascopy also offer slippage control feature which make trading much more safer and profitable.
Again, it is up to trader whether he choose to use it or not. I do not know any other broker who offer this feature.

I would like to apologise to Dukascopy for my previous review and also thank for clarification.

I would like to challenge other traders to try to resolve issues with their brokers first before posting comments.

There is no industry which would be polluted with so many conspiracies than forex.
I believe this has 2 major reasons:

1. Trader loose money and is unable to accept his own mistake so he is trying to blame others (one of the so called ego protective mechanisms)

2. Traders are often highly intelligent people who simply over-think things and tend to create “science fiction” out of everything. Obviously they are aware of their superior intelligence so their conclusions must be always right...They do not feel the need to consult their theories with anybody. They know best...

2015-03-15 1 Star Dukasopy Swiss

Doggy, Unethical, Fraudy

My story:
I am resident in the UK and I was interested to become money manager and to cooperate with Dukascopy (Swiss).

I asked whether I need licence in the UK: He said he does not know about it
After I filled forms and tackled “I do not need licence in the country of my residence”
I signed 2 contracts, filled application, sent ID and prove of address.
I took 2 month to get my ID back. They simply had not not found it inside of my application form...(how did they check my capability to became money manager then?)
I've been appointed to be their external manager however I did not get my contract back.
(I received just strategic code I would give customer)
I asked for my contract twice never got answer.
I should have received also other documents regarding contracts I would sign with customers in the UK but did not receive any.
Only thing what I was supposed to do latter on was to send my customer to them and they would do the rest. They also wanted to know who are my customers introducers if I had any.

If I sum it up I was gradually manipulated into bigger and bigger disadvantage.

I am glad I backed out of it.

What would likely happen if I stayed:
I would bring them customers whose money I would be managing(?). Without any legal contract or prove and without any contract between customer.
I would also report to Dukascopy who my customers introducers are if I had any.
After I would be caught by the UK authority and accused from unauthorised money managing. I would loose all my customers who would stay in Dukascopy. Dukascopy would also have all my business contact details (customers introducers) which could be also very handy.
Dukascopy would prove to be innocent as they would show to the authority I tackled I do not need licence for money managing in the UK.

What I add now will shock you
I asked. whether I could introduce to Dukascopy some people who would be interested to become traders themselves as I found them on twitter.
The following day Dukascopy followed me on twitter and all my followers. In a week they had around 200 out of my over 700 followers on their account.
They also created at the same time 2 additional accounts on twitter: 1.forex forecast 2.forex block...
Interesting that it was exactly what I was publishing on twitter (via link to my website), yeas I was publishing my forex forecasts and blocks regarding various matter in forex. Accident?
Pathetic!

Dukascopy even did not respect the fact I promoted them on my website. Free and big promotion as I allocated them entire web-page.

There were much more problems. Malfunctioning trading platform where even money were lost by technical mistake (it was demo account but the platform is the same).
They use Java based platform which also means free access to your computer. I was amazed when everything frozen in my computer and started functioning again when I pulled out internet connection. It was in time when their Java based trading platform was on (this never happened before). Was I being hacked? I would not be amazed.

They will in-courage you to use their web platform so they can see everything what you are doing on platform and to have access to your expert advisors (automated trading) if you create some on their platform.

It is also questionable whether they are ECN broker. I have not found anything about their liquidity on internet. They also state in their documents that sometimes they can decide to take position against client. This is typical behaviour of market maker in 100% style. ECN broker cannot take position against client under any circumstances.
Question whether they are even regulated?

mayuka, asia, Malaysia

Rating: No Rating
Date of Post:2015-03-03
Review: is anyone facing platform login problem? i try for so many time to login neither website and platform but failed. and i'hv email dukascopy but no respone at all. feel a bit worried about that.
 
Comment: Added by Laurent Bellieres on 2015-03-06 11:40
  Dear Trader, has your issue been resolved? In order to get immediate assistance in case of trading issues you should always call our Live Trading Support at +41 22 799 48 48 or +41 22 799 48 38 as indicated at https://www.dukascopy.com/swiss/english/about/contact/. As a matter of fact, emails may remained undelivered or unattended for various reasons.

Dragan, , Bosnia and Herzegovina

Rating:
Date of Post:2015-02-17
Review: Great broker, great team of dedicated professionals who care about your needs and concerns; and are always ready to listen to you. If everything continues to be this way I'll stay with Dukascopy for a long time.
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dragon, , Bosnia and Herzegovina

Rating:
Date of Post:2015-02-13
Review: Yesterday, more than 1200 usd just disappeared from my account, I urgently contacted mu AM who promised to escalate the ticket but there has not been no answer, no email, no phone call all day long.
I am starting to blame myself to trust them and send them a big amount of money!!!
 
Comment: Added by Laurent Bellieres on 2015-02-18 10:51
  Let’s be serious. Dukascopy Bank is a Swiss bank. We simply cannot believe people alleging that it is not possible to get an answer from us. Just give us a call or write to [email protected] Now that we found very similar post on www.tradecomplaint.com by someone supposedly in Singapore we suspect this to be an unfair and groundless spamming. If we receive no news from you within the 7 coming days your spamming activity will be proved and reported to ForexPeaceArmy.

hazman, johor, Malaysia

Rating:
Date of Post:2015-01-10
Review: Great broker.
Great spread.
Great execution.
Great support.
JForex simply the best!

Adel, Dubai, United Arab Emirates

Rating:
Date of Post:2014-12-04
Review: I love Dukascopy! They have good spreads, good execution and very nice platforms. I always watch Dukas TV as they always have great instructors (and a beautiful economists I might add) and great content. It's very impressive how much they've grown since I opened my account 7 years ago. They are regulated, Swiss, and have a banking license. They have good PAMM and CFD options which are hard to find these days. Withdrawing is not even a concern with these guys as it would be with fringe brokers. I don't trade binary, so I can't comment on that. I love Dukas because of Dukas TV, spreads, support, regulation and platforms.

Muhammad Ahsun, Gujranwala, Pakistan

Rating:
Date of Post:2014-12-01
Review: Though my experience of opening account was terrible but later my account manager informed me that it is due to regulations he offered apologize and i am thankful for Mr Awada. Now he address all problems very quickly and i am satisfied with their client support

As far as trading goes their platform is out standing clean charting and easy to navigate the main thing i like about it instant execution in less than a second and that is most important part for trading success. One thing i dont like is charts take some time to load i hope it will be soon

I have not conduct any withdrawal will update how it goes
Over all great experience and definitely recommended broker

2014-07-25 2Stae Dukascopy EU is terrible broker i have ever dealt with!

I have applied for an account and next day got a call from my account manager(Mo Awada) and he told me that i am required to send my certified docs by post as per regulations i said no problem and i asked him to explain certification process and tell me all requirements. Then after 4 days of struggling i finally got a meeting with my Bank Branch manager and got my docs certified from him. Then i send my scans for verification that all docs are ok for sending

My account manager replies me after 11 days that signature date is missing. What the hell i told him i got everything on my docs as you said and you have no mention of signature date! but he said we are required to have date too!

I was very much frustrated but what can i do on next day i visit the branch again and after 1.30 hour of waiting i finally got signature date and all my documents are now completed and on the same day i scanned those docs and send them back to my account manager that everything is ok.

Now guess what he don,t even bother to send a reply!
Now i have decided to leave this broker forever and sharing my experience here. The purpose of putting the whole story is if i am giving a bad rating to a broker then my review should be supported by a solid evidence!

I have waste my 3 weeks and precious time here. In FX Markets time means Money! If you are going to open an account with them then keep in mind they don,t honor your time ! !
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