Dukascopy Review

3.892 · 192 REVIEWS
Updated: Oct 29, 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

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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.

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3.892 · 192 REVIEWS
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Traders Reviews

Europe, Slovenia,
Feb 29, 2020,
Registered user

Honestly the best broker for retail trader

Service use: Live

Length of use: over 1 Year

I have been with Dukascopy since December 2018. My trading style is scalping, usually 10 pips TP with 50 pip SL, on average taking around 10-15 trades/week. I have traded only regular currencies, and left positions only from monday-friday. I have started off with 18.000 EUR and funded more along the way.

Things that have or have not happened with Dukascopy:

- Always, without exception, fast and immediate withdrawal, anywhere from 1-20.000 EUR. Sometimes the money was on my bank account (i am from EU) in the same day.
- I have never experienced any slippage whatsoever on my trades
- I have been using their JForex platform and my god, that is one smooth, well structured platform that also allows server based trailing stop (which Metatrader does not)
- You have several brackets of commision automatically, so if you start off with moderate 15k or something and trade moderately, you will be moved automatically to next bracket - paying LESS commision per trade than before
- EU brokers got f*** with that 1:30 leverage directive, but with Dukascopy (Swiss broker) you can have 1:200 - while still being very regulated broker with up to 100.000 chf funds protection
- When i have deposited the funds, they have asked me about my funds origin and continually kept asking anytime i have added more money to my account. By Swiss law, they are required to keep an eye on traders, so that they do not go into debt trading and or put their entire personal wealth on Forex account. Normally, this is really great, it shows great respectance of the law, strictness and trying to protect you from yourself as a lot of people gamble away their accounts.

It is also the only reason why i have left Dukascopy. I have traded successfully for a long time, so i wanted to put more money on it. I was told directly, that taking investors money and putting it on Forex, or taking a bank loan and putting on Forex will not be accepted. If i right now, wanted to take someones 100k to trade and flip for profit, with Dukascopy, i will be prevented to do so.

In conclusion, truly great broker. I have enjoyed their services very much and they have been entirely reliable. If you are not planning to put on Forex anything beyond what you have in your own pocket, this is the best broker.
  2 traders have found this review helpful
Ksa, Saudi Arabia,
Feb 28, 2020,
Registered user

nice real forex trader , i am happy

Service use: Live

Length of use: 3-6 Months

Real bank , real market forex !

I deposited a large amount 50k

I did not encounter any problems .

Thanks Dukascopy
  1 trader has found this review helpful
Anton,
Novosibirsk, Russian Federation,
Feb 7, 2020,
Guest

Service use: Live

Length of use: over 1 Year

Ease to use platform. Great strategy development based on Java programming language. Convenient historical tester and 1-click remote run of your strategies.
 
Reply by Dukascopy Support submitted Feb 14, 2020:
Dear Anton, we are happy you enjoy our platform and automatic trading environment. Thank you for taking the time and sharing your opinion. We really appreciate it.
SINGAPORE, Singapore,
Feb 6, 2020,
Registered user

PRACTICAL AND USER FRIENDLY

Service use: Live

Length of use: over 1 Year

THE PLATFORM IS VERY EASY TO USE AND CLARITY OF THE CHART PRICE AND EASY TO OPERATE AND WE CAN PRINT THE CHART TOGETHER WITH OUR TRADES FOR BACK TESTING.
  1 trader has found this review helpful
Reply by Dukascopy Support submitted Feb 11, 2020:
Dear hendraoh1, we are grateful that you took the time out to leave us a review. It’s good to know that you are enjoying our platform and find it convenient for backtesting. Should you have any comments and suggestions you are very welcome to share them with our developers at support @dukascopy.com.
London, United Kingdom,
Jan 28, 2020,
Registered user

Great Broker

Service use: Live

Length of use: over 1 Year

Have been using Dukascopy for 18 months now. Love the platform. Tight spreads, feature rich and reliable.

Only had one issue in 18 months when platform became unresponsive whilst trying to close a trade. Dukascopy support replied almost instantly and refunded the full amount of the trade based on when i had tried to close. Very good support
  1 trader has found this review helpful
Reply by Dukascopy Support submitted Feb 11, 2020:
Dear thillesq, thank you so much for taking the time to give us your feedback. It’s a pleasure to know that you like our platform and support. At Dukascopy we are committed to investigating every customer’s request and providing a fair solution.
Please let us take this opportunity to remind our customers about the various versions of the platform that we offer. If for any reason you can't access your usual platform (for instance the installed JForex for Desktop) you may try using our Web platform, JForex Java Webstart, IOS and Android apps to manage your orders. For urgent operations with your trades, please call our live trading desk immediately at + 41 22 799 4848.
Warmest regards, Dukascopy support team
CORDOBA, Argentina,
Jan 23, 2020,
Registered user

Excellent broker

Service use: Live

Length of use: over 1 Year

I have been working with Dukascopy since 2010. The client service has always been excellent. As a programmer and trader I think that the platform is the best in every way.
  1 trader has found this review helpful
Reply by Dukascopy Support submitted Feb 10, 2020:
Dear Gorlord, we are excited to know that you have been with us for 10 years already and are enjoying everything so far. Our support team sends you warmest regards and remains at your disposal for any questions or comments you may have.
Oslo, Norway,
Jan 18, 2020,
Registered user

OK

Service use: Live

Length of use: 0-3 Months

I've been using Dukascopy with the javaws JForex for a week, these are my thoughts. It has most of the tools you need to make money in the markets.
Platform and price feed has been stable the whole time, I don't think I have seen any disruptions which is good. Other than silly spreads on some
of the crosses around the US close.
Volume commission is a minus.
I opened another currency account to do internal transfer. It costs a fee and is not instant even though you get the spot rate. Even
after several hours it was still not complete, another minus.
All in all I think this is an OK broker.
 
Reply by Dukascopy Support submitted Jan 23, 2020:
Dear hdkgjtndfh, thank you for taking the time to share your thoughts on our products and services. We are glad to know you have enjoyed our platform.
We would also be grateful to receive some details of the internal transfer you are referring to in order to investigate this issue and assist you since all our internal transfers are completely free of charge and instant. Feel free to email us the details at cs(at)dukascopy.com. Best regards, Support team
London ontario, Canada,
Jan 15, 2020,
Registered user

Extremely Horrible racist experience

Service use: Live

I wanted to open account with Dukascopy but they refused my application because my net worth was upper than 1 million, I sent all of my fully legally documents from Canada for source of my fund but they refused my account because I was originally from middle east!!!!! They are so racists, they think the people who live in Middle East are criminals !!! All of my documents and my bank account and my sources were fully legally by government of Canada !!!! And they were the only broker who refused me.
  1 trader has found this review helpful
Reply by Dukascopy Support submitted Jan 23, 2020:
Dear Shayan1942, as a licensed bank regulated by the Swiss Financial Market Supervisory Authority our Compliance department must meet strict requirements while reviewing clients’ applications. Please let us assure you that these policies are solely aimed at determining the source of deposits that are planned to be sent to Dukascopy Bank. We are obliged to obtain this information in order to comply with Swiss regulations.
milan, Italy,
Jan 14, 2020,
Registered user

good

Service use: Live

Length of use: over 1 Year

very good broker but high spreads over night.

they have the best platform for historical data and backtesting (manually)
 
Reply by Dukascopy Support submitted Feb 11, 2020:
Thank you very much, hisoka391. We appreciate your feedback and happy to know you enjoyed our platform and especially the backtesting feature.
Monique,
Bilthoven, Netherlands,
Jan 9, 2020,
Guest

Very glad I have choosen for Dukaskopy

Service use: Live

Length of use: 0-3 Months

Very professional organisation with the best tools there are. I first tried the demo version, but since last week I'am live and very happy.
Don't hesitate, just go for Dukascopy!
 
Reply by Dukascopy Support submitted Feb 11, 2020:
Dear Monique, thank you for sharing your feedback with us. We are thrilled to receive such a high rating and kind words. Please let us know what we can do for you in the future.

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.