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Dukascopy.com Review

Overall Rating: (3.636)
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Total Reviews: 138
Last Updated: 2015-07-28
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.

Alexandra TF, Gozo, Malta

Rating:
Date of Post:2015-07-27
Review: About two or three days ago I written a review here about Dukascopy. Explaining that I was going through a surreal situation with their Customer Support. I believe in reporting the facts and therefore it is only just and honest to update this past review.
Since advising Dukascopy that I will be submitting a review a lot has happened. All positive. This is a compliment to FPA and also to Dukascopy who take serious complaints seriously and try to solve them. For this they should be commended.
Since that time I have had tremendous feedback from their support department. The omission was explained to me and they apologised. All is accepted. I thank them for this.
The following is not a complaint but a sincere suggestion to Dukascopy.
I have said even in my original review that I consider Dukascopy to be a sincere broker. They do not mess about. They are to me totally trustworthy. IF only they can bring to this level their support. Let me explain.
Things should not have come to a head between us if they had proper front end support. As I explained to one of their executives who rang to explain the problem they should seriously consider their front end assets. Mainly for the following reasons:
1, Sometimes you get the feeling that the person who is supposed to be providing support knows hardly anything about Forex or even the platform itself.
2. What guts me most of all is that you spend time explaining and sending screenshots to these front end people to only be rewarded by a simple message were they say to you. "Please contact support with your problem". And they provide an e mail address. Why do not these front end people use the information already provided and submit a report to their support themselves?

Finally, one of their executives has also informed me of something which I was not aware of before, and clearly is not made known to us clients by their front end personnel. They have a 24 hour support line which their users can use in case of dramatic problems and funds need to be protected. Once again Dukascopy should be commended for this service.

Therefore to conclude this review I would recommend Dukascopy as an honest broker to anybody who wants to enter into the world of Forex. I also suggest that people interested in using Dukascopy they should first get acquainted with their platform and explore some of the problems therein so that these will not catch you unaware. I also suggest that if a problem is noticed then Clients should write directly to Support rather then try to go through their front end assets. Unless it is just a clarification or something simple.
Finally, I do sincerely hope that Dukascopy continue to improve their platforms because they are really and truly honest and trustworthy. Which is something I can only say about another broker ONLY. And I have had my share of brokers along the years I have been involved with Forex.

2015-07-22 2Star Since I have been using this Broker I never encountered any problems like scams etc. But their technical support is horrendous to say the least.
I am just passing from an experience with them that it is surreal.
If anybody within Dukas really cares about their business they may contact me and I will explain everything so that hopefully they fix it.
Until such time as their Support systems are fixed to really provide support I would suggest you use this broker if you have a few Dollars or Euros to play with. And I mean in the region of 100 and not more.
DO NOT USE THIS BROKER FOR BIG MONEY TRANSACTIONS. YOU WILL LOOSE BIG. AND FORGET TRYING TO GET PROPER AND DECENT SUPPORT FROM THEM.

Christer, Borlange, Sweden

Rating:
Date of Post:2015-07-05
Review: Dukascopy is a good broker, I have had an account with them for a few years, and I have traded with them on and off, I never had any unfair tricks happening, they don't interfere with your trades at all, they are a ECN broker, the slippage can sometimes be a bit much and the commission is based on the volume you are trading, so for small traders that are only trading micros, it can sometimes be to much. if you open with them you should have enough capital to trade mini lots,with a minimum 1000 deposit, then you can trade 1 mini. and you will get lower comission because of it. the support can sometimes be hard to get a hold of, that is a minus, but over all everything has been woring great, the platform they offer, is a piece of shit, jforex got to be one of the worst platforms in the industry, the thing is gartering data on your hard drive you wouldn't believe, several gigabytes of small data files will sometimes fill your intire drive up so you are forced to delete them all, and it takes hours and hours! I hope they will come up with a better platform in the future, maybe the Ctrader, that would make me very happy, as for now, I just cant stand the jforex platform and Im trading with another broker at this moment because of it, but over all, they are still a very good broker. if they got a better platform they would be close to perfect. it is definitely a broker you should consider if you are serious about trading. I will only rate them as good because of the shitty platform,

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?
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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.

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!
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