Dukascopy review: Regulations, platforms, pros, cons, and traders ratings.
5 star review by Alex, United Kingdom
What is Dukascopy?
Dukascopy is a broker and a bank established in 2004 and holding Swiss bank license since 2010. Dukascopy is regulated by FINMA (Switzerland) and JFSA (Japan); headquarters are located in Geneva, Switzerland and international offices include China, Japan, Latvia, Malaysia, Russia, Ukraine, and UAE.
Dukascopy offers proprietary JForex 3 trading platform which supports algorithmic trading, custom indicators, and has hundreds of apps available for it at Dukascopy app store. Popular MT4 trading platform is also supported.
Dukascopy trading instruments include over 60 forex pairs, Bitcoin, Ethereum, their own Dukascoin ( symbol: DUK+), and CFDs on stock indexes, bonds, precious metals and commodities.
Dukascopy TV is one of a kind studio located in Geneva featuring insightful market analysis and interviews with influencers. Please enjoy Forex Peace Army interview at IFX EXPO, Cyprus.
Dukascopy features live economic news calendar, news stream by MarketPulse and Reuters, SWFX Sentiment Index, and a host of other tools for traders.
Clients can open account with Dukascopy Bank (Switzerland) or Dukascopy Europe. Swiss branch requires higher initial deposit of $5,000 vs $100 for the European one, investor protection limits also vary by jurisdiction.
Please read Dukascopy Reviews below and share live trading experiences with this broker.
|Minimum Trade Size:||0.01|
|Minimum to Open Live:||$100|
|Address:||ICC, Route de Pré-Bois 20, CH-1215 Geneva 15, Switzerland|
|Contact:||+41 22 799 4888|
|Regulators:||FSA #FIBO No.2408, FINMA #CH-660.1.823.004-9|
|Trading platforms:||MT4, jForex|
|Web Trading:||✅ Yes|
|Mobile Trading:||✅ Yes|
|Cryptocurrencies:||(2) Bitcoin, Ethereum|
|CFD:||(605+) Gold, Silver, Stock Indexes, Bonds, Oil, Other Commodities|
|News Trading:||✅ Yes|
|Deposit Methods:||Bank Wire (BankTransfer/SWIFT), VISA, Bank Gurantees, Maestro, Neteller, Other Crypto Currencies, Skrill|
|Withdrawal Methods:||Bank Wire (BankTransfer/SWIFT)|
Recent User Reviews of Dukascopy
JFOREX4 - Dukascopy - Best trading platform
It works on MacOS, Windows and Linux. I use first two.
Latest version of the platform is better and better every day. I do have premium subscription TradingView. Also great platform, but JFOREX if you do Java language is more powerfull, almost no limitations.
Trade execution is instant. Data stream stable. All you need to start trading and enjoy.
Great for Forex!
I don't give it 5 stars because I mainly trade metals and their spread are a little higher than average, but I stick with them because the platform and execution.
For Forex instruments their spreads are really competitive.
maybe a little issue, their customer service response take much time than usual
Mar 3, 2020 - 5 Stars i am new for using it but so far speed & tools are good
highly recommended to try it
i will update my review later
Now about Dukascopy Swiss Banking Group. I have been working with Dukascopy Swiss Banking Group many years.
For this time I did not have any problems.
Platform Jforex works very good and correctly.
Instrument for trading are more then enough ( Forex, CDF, Stocks).
Execution, takeprofit, stoploss, orders all super.
Education and support are execellent.
News and analytics are super.
Last time I am trading from mobil apllication, execution the same as Platform Jforex.
My opinion Excellent!
Thanks you very much for your attention.
Mar 26, 2020 - 5 Stars Good afternoon or good night for all.
Now about Banking Group Dukascopy.
A am having real account some years.
Now, my opinion.
Education support and news all are supper!
About platform, instruments for trading more then enough.
Execution of orders, buy, sell, take profit, stop loss and others orders all OK!
Last time I am trading from Mobil, all OK too.
My opinion excellent!
Thanks you for your attention.
Jan 25, 2020 - No Rating Education and support information is super!
Execution and platform are all OK.
Until l I do not have problems.
Reply by Dukascopy Support submitted Feb 10, 2020 Dear foreigner, thank you for the review! Should you encounter any issue in the future, feel free to contact our support desk support @ dukascopy.com. We will be happy to help!
Used Dukascopy for over 10 years - Excellent
JForex platform has a high level of liquidity, accuracy and speed.
And last but not least, DUKASCOPY offers a strong regulation that guarantees my money and my personal data.
Mar 25, 2020 - 5 Stars Not the slightest negative thing to say about the platform : prices, orders, charts, alerts, reports & help desk,
Ask for a try!
Sep 2, 2016 - 5 Stars Excellent platform (and no useless information). Excellent trade execution. Good service.
Reply by Dukascopy Support submitted Apr 21, 2020 Thank you for your kind words! We hope your satisfaction will only increase as the platform develops. Should you have any doubts, comments or suggestions, don't hesitate to contact our help desk. It will be our pleasure to assist you!
1. This is the best platform for forex(for me) because the spread is very small (but you pay a commotion) still worthed.
2. The platform is very reliable and, has very nice features: lot size, indicators, undock chart, custom settings.
3. Customer service is very good.
4. Swiss bank very secure.
5. Every customer has an account manager which for me is a very good thing.
Other brokers offer same spread and better conditions with less hustle.
I had an account with them , then I tried to reactivate it , the RM replied account was closed and asked me to apply for a new account qnd requested a tedious set of documents including hr letter! Hr letter for what??? I don't know!.
They are still primitive somehow compared to other brokers .
Please let me know if I can be of any help. You can send me details of this situation to cs @ dukascopy (without spaces). I will investigate this case with pleasure and get back to you with the results.
Above all other forex brokers
You can do whatever you would like to do, scalping, news trading, spike trading, anything. The most important thing, if you make money here, you make real money on a Swiss bank account.
Even if you would have any problems, your personal account manager would gladly help you.
Thank you for the perfect service, which deserves nothing else, but five stars.
Correct the previous review
I identify by myself the problem and my mistakes.
Nothing to complain about, the opposite is a great job with Jforex4 and the reliable platform.
The dukascopy team has done an excellent job.
Jan 2, 2023 - 2 Stars I trade since 2019, and to be honest not had so many bad experiences that put me upset until today.
A few days ago, I observe that my position was closed because reached the SL, but the candle does not reach the value, at this moment, only a few candles after.
I contact support and I think the problem was due to slippage. I did not accept the answer from support, but what I can do!!!!
I remove the slippage and today the problem occurs again.
e.g. Sell on 1.0657, move SL to breakeven 1.0656 when the price was in 1.0652, and the price move back to 1.0655. The position was closed 1.06573 (Pay the commissions in this case)
The bad thing is that this happened several times today.
I did a test where at the same line where I put the SL I set a Sell order, the position was closed but the order was not triggered as the SL. (In all cases the candle did not reach the value where SL was set)
Because this happened several times today, I had the opportunity to do another test. When the position was closed I opened at the same time and I did not get 1 pip in advance which can be a potential benefit for me.
Based on this case, is not true that the issue can be caused by high volatility, probably is in the code in this case, and if we lose 1 pip when close, and do not win 1 pip when open means that is not a bug in the code.
In total, I lost 3 positions. The truth is that if the SL was not triggered unduly, I will certainly cover 10 pips (+-50$).
In this case, this issue affected badly the traders.
I opened today an incident whit PrintScreen and wait for the answer from the support.
Let's see if complain here someone looks as should be for this problem!!! unfortunately should be this way.
JForex4 was a remarkable improvement in the tool, Dukascopy has more to do, but I believe the dev team worked on it. As I said before until today was 5 * using Dukascopy to trade. But I think is time for Dukascopy to review the support and your own rules for the support team and maybe start to have support with real trader experience to understand and identify this kind of problem before it happens.
Because if this kind of issue was not corrected, means that is intentional. I only accept bad coding or wrong configuration if the loss is for both sides, some times we lose 1 pip some times Dukascopy loses, but this is clearly not the case here after the test and PrintScreen that I did.
***Attention I will review my post according to the potential answer that I will receive from support, to be fair your this review***
Reply by Dukascopy Support submitted Jan 6, 2023 Dear Trader,
Thank you for taking the time to write your feedback and contacting Dukascopy Support Team.
In regards to the orders in question, we have investigated the execution of the stop-loss order of the position provided to us.
First of all, we would like to highlight that, The Stop Loss order is an unconditional market close order on a trigger, associated to a specific position. The execution process of the stop loss order focuses on the probability of execution. The stop-loss order aims to close the position it is associated with in any market situation, especially in a volatile environment. As a result, the slippage of a stop-loss order cannot be defined at the trader level. Once the stop loss is triggered, the market order sent is unconditional and the order is parametrised accordingly to get the highest possible probability of execution at the best price offered by Dukascopy Bank. All else being equal, increasing the probability of execution places a burden on the price of such an execution, therefore, traders must remain aware, in all circumstances, that a stop loss order is like an option. Depending on the underlying market volatility, the probability of execution likely involves a slippage amount. The traders must keep in mind that a stop loss order execution price involves more slippage on average than traditional orders due to the quest for the higher probability of execution.
Additionally please note that, assuming that the order validation mode is disabled, a stop loss order to sell, placed with a trigger price equal or above the market bid price at the time the order is sent, and/or a stop loss order to buy placed with a trigger price equal or below the market ask price at the time the order is sent, will be triggered for execution immediately and without prior warning. As soon as the conditions for triggering are satisfied, the orders are sent for execution immediately, which was exactly what happened in your case. We’ve found that the stop-loss in question was sent to us on 2023-01-02 at the time when the order was received by our system the market bid price was corresponding to the condition of your stop-loss order, and fulfilled the order conditions. Your stop-loss order was therefore triggered and executed.
The order was executed with no slippage relative to the market price. For reference, we have provided all the documentation and screenshot in the support response to your original email.
We have not been able to find any fault in the execution of the stop-loss order in question. Please clarify your complaint if you disagree with our investigation results.
In case you shall have any additional questions please contact me at email@example.com and I will be glad to assist and answer all your questions
Dukascopy Support Team
Frequently Asked Questions
Is dukascopy a good broker?
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?
- 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?
- 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 Japan, located in Tokyo, fully owned by Dukascopy Bank is also licensed as a Type-1 broker.
Dukascopy Group mainly provides online and mobile trading services through the SWFX - Swiss FX Marketplace.
Is dukascopy a true ECN?
Dukascopy Bank has no dealing desk and makes no requote.
Forex ECN accounts are available in Dukascopy Bank.