Dukascopy Review

3.805 · 186 REVIEWS
Updated: Aug 5, 2020 · Dukascopy.com  · Is this your company?

Dukascopy is an online forex broker. Dukascopy offers the MetaTrader 4,SWFX mobile, and JForex online currency trading top platforms. Dukascopy.com offers over 40 currency pairs, CFDs, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

Dukascopy

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 200:1
Minimum to Open Live: $100
Established: 2004
Address: Route de Pré-Bois 20 ICC, Entrance H 1215 Geneva 15, Switzerland
Contact: +41 22 799 4888
Regional offices:
Regulators: FINMA #
Prohibited countries:
Trading platforms: MT4, jForex
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (40+)
Cryptocurrencies: (2) Bitcoin, Ethereum
CFD: (605+) Gold, Silver, Stock Indexes, Bonds, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
PAMM: Yes
Deposit Methods: Bank Wire, VISA, Bank Gurantees, Maestro, Neteller, Other Crypto Currencies, Skrill
Withdrawal Methods: Bank Wire

Live discussion

Join live discussion of Dukascopy.com on our forum

Go to forums

Dukascopy.com profile provided by Dukascopy Support, Jan 16, 2018

Dukascopy is an online forex broker based in Geneva, Switzerland. Dukascopy offers the MetaTrader 4, Jforex, Web, iOS and Android online currency trading top platforms. Dukascopy.com offers over 60 currency pairs, CFDs, binaries and precious metals for your personal investment and trading options. Dukascopy Bank is regulated by the Swiss Financial Market Supervisory Authority FINMA both as a bank and a securities dealer.

Video

Your company video here? Contact ad sales

3.805 · 186 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Traders Reviews

Dhaka, Bangladesh,
Aug 3, 2020,
Registered user

BROKER IS PROFESSIONAL BUT BEHAVIOUR LIKES UNPROFESSIONAL

Service use: Other

Positive side:
Dukascopy is trusted and reliable broker. No doubt about that.

Negative side:
If you think that you will be a part of Switzerland based broker then you can start account opening process with them.

Everything will be fine if your luck favours getting a dedicated account manager. Otherwise you will be forced to submit them documents, documents and documents. Necessary and unnecessary every documents they need to time pass.

If you fail to submit the unnecessary documents they want, after some days their attitude seems to be like that - YOU ARE CRIMINAL AND YOU WILL TRADE WITH DUKASCOPY USING ILLEGAL MONEY.

After passing frustrated many days i became tired and decide not to proceed with them.

I am asked by account manager of Dukascopy to submit other broker's statement how much profit i gain from forex!!!! Unbelievable.....

They will tell you their compliance department demands additional document. I have shocked when i see - INSPITE OF HAVING SAME BUSINESS CATEGORY THEY ACCEPT MY FRIEND'S DOCUMENTS WITHOUT HASSLE BUT I AM FORCED THAT COMPLIANCE NEED MORE DOCUMENTS AND THEY ARE NOT SATISFIED BY MY GIVEN DOCUMENTS. HOW DUAL POLICY CAN PLAY BY COMPLIANCE DEPARTMENT WHERE DUKASCOPY SAYS THAT THEIR EVERY ACTIVITIES ARE TRANSPARENT? THEN IT WILL BE CONSIDERED THAT SOMETIMES THEIR COMPLIANCE WORKS PROPERLY ANS SOMETIMES THEY WORK IN SLEEPING MODE?

Jose Meimije is assigned for my account manager. His attitude, dominating behaviour arrogant mentality makes me totally disappointed that i am interested to trade with dukascopy nothing else. I have raised this issue many more times to their compliance but no responses....

Finally i can say - A lot of procedures and documentation for nothing! Other brokers offer more tight spread and better conditions with less hassles
  1 trader has found this review helpful
United Kingdom, United Kingdom,
Jul 31, 2020,
Registered user

SCAM COMPANY AVOID THEM

Service use: Live

Length of use: 0-3 Months

SCAM COMPANY AVOID THEM. worst forex broker in history. Do your self a favor and don't trade with Dukascopy they are very BAD broker.

This is my account number: Mahowald659EU.
  1 trader has found this review helpful
Reply by Dukascopy Support submitted Aug 5, 2020:
Dear MiladK, we are a little puzzled with your comment here as Dukascopy Bank and its subsidiaries are licensed and strictly regulated companies. Dukascopy Bank is a Swiss bank supervised by FINMA. Its European subsidiary, Dukascopy Europe, is a brokerage licensed in the EU and regulated by the Financial and Capital Market Commission (FCMC).

Unlike any ‘scam’ company, we provide not only transparent trading and pricing conditions, but also protection to our clients, including deposit insurance, stop loss, capital protection and other measures listed in the “Client protection” section of our website.

Moreover, there is a number of ways our clients can submit a suggestion or complaint regarding their trading experience with Dukascopy: using “Contact us” and “Report an Issue” forms on our website, a Live chat with our representatives, or emailing us at cs @ dukascopy.com. Our phone lines are available 24/7, too.

Kindly let us know if there’s anything we could assist you with to improve your experience with Dukascopy, since we couldn't find any trades in dispute or complaints associated with the login you have provided.

Best Regards,
Dukascopy support team
South Island, New Zealand,
Jul 31, 2020,
Registered user

Professional excellent ECN.

Service use: Live

Length of use: 0-3 Months

The trading platform is awesome and it's a nice way to open a bank account in Switzerland. Highly recommended, love it.
 
cairo, Egypt,
Jul 16, 2020,
Registered user

very safe and well equipped technical analysis tools

Service use: Live

Length of use: 3-6 Months

very safe trading there ,one of the very few in the market that is considered a true ECN ,highly recommended .
Interests of its clients is very well preserved in safety measures taken ,truly different experience than what is experienced with others

endless investment tools are available for trading
 
Punjab Chakwal, Pakistan,
Jul 16, 2020,
Registered user

Perfect Broker for Professional Traders

Service use: Live

Length of use: over 1 Year

I am working with Dukascopy since 2010, and I found it the perfect broker. It is matchless. My urge for choosing a good broker has been finished. It JForex platform is amazing. I have satisfaction that I shall not be scam any time.
Suggestion:
I have a little suggestion for Dukascopy to reduce the order commission and overnight charges of the orders please.
 
Beg-inner,
Home, Spain,
Jul 13, 2020,
Guest

JForex

Service use: Live

Length of use: 0-3 Months

In my experience, which is very limited, your JForex platform is the best. I've tested MetaTrader, but it's not good for me.
 
Warsaw, Poland,
Jul 13, 2020,
Registered user

Very good broker

Service use: Live

Length of use: over 1 Year

I've been with Dukascopy for almost 10 years. From the very beginning, I assumed to focus exclusively on the major pairs. For me, the most important things for a Broker are reliability (both in financial terms and in terms of operations), speed of execution (especially not executing stop-loss on time might lead to trouble) and available tools.

During this 10 years period, we went through the Swiss central bank's decision to limit CHF’s exchange rate - as a reminder, this is the moment that led to the bankruptcy of several brokers - and Brexit. In my opinion, the risk management department at this bank is incredibly good. A few weeks before the decision of the Swiss central bank (I think it was at the beginning of 2015) they cut the leverage on pairs with CHF, because it was obvious that something was going on.

The broker provides a wide range of available financial instruments, but the leverage available on them is at a reasonable level (adequate to liquidity and risk), so that in case of market liquidity problems it does not cause problems for clients or the bank.

As for the speed of execution, you simply have to try it yourself. In my opinion, it would be very difficult to improve something here, although I know that there are brokers who do it better.

The JForex platform is OK. The available tools are implemented correctly, everything is written in Java and there is a possibility to develop your own strategies or features. Developers are open for suggestions and new features. A very powerful API is available. When using more advanced features, errors can be detected, but support is helpful (maybe rude sometimes, but they are IT developers, so I think that it is also OK).

Regarding comments about rude contacts (not for my representative, but I have to admit that contacts with development support requires specific communication), in my opinion empathy is one of the last things I would like to get from a broker. Probably something like that can be discouraging, but I think that forex it's not a play for subtle people.

For me it is a broker I learned to trade with and I think to stay together for some time.
  1 trader has found this review helpful
Feri,
Budapest, Hungary,
Jul 10, 2020,
Guest

Best

Service use: Live

Length of use: 0-3 Months

The most reliable ECN forex, cfd broker. The costumer service was well. The platform is better then either. I recomend it for everyone!
 
Reply by Dukascopy Support submitted Jul 21, 2020:
Thank you for your kind words, Feri. We really appreciate it.
Leopolis, Ukraine,
Jul 9, 2020,
Registered user

In my opinion - a Great Service.

Service use: Live

Length of use: 3-6 Months

Excellent service for trading and a wide selection of instruments for investment strategies.
In today's economically difficult situation, I do not consider commissions too high.
Perhaps the web-portal is a bit overloaded with graphic elements.

Sincerely, RomanKh.
 
Reply by Dukascopy Support submitted Jul 21, 2020:
Dear RomanKh, thank you for taking the time to leave us feedback here. It pleases us to know that our current instruments range caters for your investment needs as we are constantly working on broadening the list.

Best wishes from Dukascopy support team.
Baku, Azerbaijan,
Jul 2, 2020,
Registered user

Very satisfied

Service use: Live

Length of use: over 1 Year

I am with this broker for 6 years. I have been improving myself by participating in this brokers contests. unfortunately they stopped most of the contests since 2020.
I am very satisfied with the broker because they always make their best to help. Never make problem. Withdrawing money takes almost a minute. You just should keep in mind that withdrawing money from trading account with open trade should be approved by human. if you have open trade, It may take up to 48 hours, especially if you do it on weekend. I find their commissions high but probably it is the cost for good service.
  1 trader has found this review helpful
Reply by Dukascopy Support submitted Jul 3, 2020:
Dear Fxbaku, it's great to know you have traded with us and contributed to our FX community for so long.

As you have mentioned, we make sure that clients have sufficient margin to hold their positions after withdrawal, consequently withdrawing money from an account with open trades may take more time as they require manual approval.

We thank you again for submitting your review here and wish you pleasant trading!

Frequently Asked Questions

Is dukascopy a good broker?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if Dukascopy is a good broker. https://www.forexpeacearmy.com/forex-reviews/52/dukascopy-forex-brokers.

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent Dukascopy community discussions: https://www.forexpeacearmy.com/community/tags/dukascopy/.

What is dukascopy connect 911?

Dukascopy Connect 911 is a messenger with an integrated payment system from a Swiss bank. The messenger has the following features.

  • Privacy. Use the secret chat function and your messages will disappear without a trace after closing the dialogue.  
  • Full access to Swiss bank services. A possibility to open an account online from any part of the world. Instant money transfers, payments, online currency exchange, deposits, virtual and plastic cards. 
  • Referral reward program. Invite your friends and get rewarded for each user who opens an account with Dukascopy Bank. The friends you invited will also receive a reward.

How do I deposit or withdraw money from Dukascopy?

Steps on how to deposit or withdraw money from Dukascopy.

  • Login into your live trading platform.
  • Open the "My Account" report.
  • Desktop Platforms: Go to "Account" > "My Account"
  • Mobile Platforms: Go to "More" > "Account" > "Account settings"
  • Locate the Deposit and Withdrawal sections in the report.
  • Click on Deposit or withdraw on the method you would like to use.

Is dukascopy regulated?

Dukascopy Bank is regulated by the Swiss Financial Market Supervisory Authority FINMA both as a bank and a securities dealer.

Dukascopy Group mainly provides online and mobile trading services through the SWFX - Swiss FX Marketplace.

Is dukascopy a true ECN?

Dukascopy Bank executes orders of market participants on a Straight Through Processing basis.

Dukascopy Bank has no dealing desk and makes no requote.

Forex ECN accounts are available in Dukascopy Bank.