Dukascopy Review

 

Dukascopy Review -Basic Features

Here are the basic features of Dukascopy:

Execution: ECN (SWFX Market)

Regulated: Dukascopy by FINMA (Swiss) and Dukascopy by FCMC (EU)

Found: 1998 (Dukascopy Group)

US Traders: No

Leverage: 30:1

Instruments: 52 Forex Currencies, Gold and Silver

Platforms: JForex, Java Trader, Web Trader, iPhone, and Android Trader

Automated Trading / Scalping: Yes

 

What Distinguishes Dukascopy from other ECN Forex Brokers?

i) Very tight spreads (you may trade EUR/USD at even 0.2 pip)

ii) Vast ECN liquidity (200 mio on Forex Majors)

iii) Instant execution and no price manipulation

iv) Variety of Trading Platforms plus Advanced and Stable Trading Technology (SWFX Market)

v) Sophisticated analysis and tools

vi) Professional 24/6 Customer Service

vii) Bank Guarantees

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Account Currencies

Accounts in Dukascopy may be held in 10 currencies: EUR, USD, CHF, GBP, JPY, SGD, CAD, AUD, PLN, and HKD

 

Minimum Account Size at Dukascopy

■ The minimum account size for Dukascopy is $100

 

Trading Account Leverage

■ The maximum leverage available at Dukascopy is 30:1 but clients may adjust to lower levels (for example 20:1).

Accounts Protection

Dukascopy is regulated by FCMC (EU).

Dukascopy is regulated by FINMA (Swiss Ministry of Economics). All Deposits in Dukascopy are protected by the Swiss government up to 100,000 CHF per client account.

 

Dukascopy Accounts Funding Methods

Funding Methods include the following:

i) Credit Cards and Debit Cards

ii) Bank Wire Transfers

iii) Bank Guarantees

iv) Custodian Swiss Bank Services

(i) Information about deposits via Credit and Debit Cards

Maestro and Visa Electron are accepted for funding via Debit cards while MasterCard and Visa are accepted for funding via credit cards. The maximum amount accepted through credit/debit cards for security reasons is limited to USD 10,000 EUR/USD. Deposited funds via cards are credited to the trader’s account in the next business day.

Dukascopy SA does not charge fees for funding via cards, but the partner banks are charging fees of 2.3% for funding in EUR, GBP, USD, or CHF, and 2.8% for funding in CAD, AUD, or PLN.

(ii) Information about deposits via Wire Transfer

This is the best way to fund your trading account at Dukascopy. Deposited funds are received by Dukascopy within 1 or 2 business days.

(iii) Information about Bank Guarantees

The bank guarantee funding method allows Dukascopy clients to keep their funds within their trusted bank and access them whenever it is required. The minimum amount accepted as a Bank guarantee is 100,000 USD.

Bank Guarantee Fee

1.25% per year

(iv) Custodian Bank Services (Segregated Bank Accounts)

Any trading account may be linked to a Swiss Bank account. In this way, clients may trade directly in the Dukascopy SWFX Market (Swiss Forex Marketplace), without having to make fund transfers directly to Dukascopy. The minimum amount accepted for Custodian Swiss Bank Services is 250,000 USD. Dukascopy is already related to the following Swiss banks:

• Merrill Lynch Bank S.A. (Suisse)

• Barclays Bank S.A. (Suisse)

• Bank CIC

• EFG Bank S.A.

• Liechtensteinische Landesbank Ltd.

• CBH - Compagnie Bancaire Helvétique S.A.

 

Swap Free Accounts / Islamic Accounts

Swap-free accounts are also provided by Dukascopy.

The Extra Fees for SWAP-Free Accounts:

i) Forex Trading: The extra fee is 5 USD per 1 million USD in addition to the standard volume commission.

ii) Precious Metals Trading: The extra fee is 7.5 USD per 1 million USD in addition to the standard volume commission.

 

Accounts and Services

Here is a table with Dukascopy Services and their minimum account sizes.

Dukascopy Service & Minimum Account
Minimum Account	SWFX Market	API Trading	Bank Guarantees	Custodian Services (3rd Banks)
5,000USD	YES	NO	NO	NO
100,000USD	YES	YES	YES	NO
250,000USD	YES	YES	YES	YES

 

Dukascopy Minimum & Maximum Lot Size

Minimum Lot Size

The minimally acceptable order sizes at Dukascopy are:

i) 1,000 units of the primary currency for Forex Trading

ii) 1 unit (1 ounce) for gold trading

iii) 50 units (50 ounces) for silver trading

Maximum Lot Size

There is no maximum lot size at Dukascopy the only limitations concern the client's marginal requirements and the total available liquidity of the system (which is normally huge).

 

Dukascopy Trading hours

These are the Trading Hours (Summer / Winter) regarding the great majority of Financial Instruments:

■ Summer Trading Hours: from Sunday, 21:00 GMT to Friday, 21:00 GMT.

■ Winter Trading Hours: from Sunday, 22:00 GMT to Friday, 22:00 GMT.

 

 

» Start a New Account with Dukascopy

 

 

■ Dukascopy Review

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Dukascopy Trading Contests

 

Dukascopy is famous for its Real and Demo Forex Trading Contests. Here are some popular contests from Dukascopy:

 

1. Dukascopy Fundamental Analysis Contest (Weekly)

The winner of this contest must forecast the impact of news on the price of Forex Currencies.

2. Dukascopy Technical Analysis Contest (Monthly)

The winner of this contest must forecast Forex Currency fluctuations based on Technical Analysis.

 

3. Dukascopy Automated-Strategy Contest (Monthly)

This is an Automated Forex Trading Contest. The winner must design the most profitable automated Forex trading strategy (Expert Advisor).

 

4. Dukascopy Signal Provider Grand Prix (Quarterly)

This is a Trading-Performance contest –The winner must show higher long-term results.

 

5. Dukascopy Trader Contest (Monthly)

The contest in a Forex trading atmosphere and discussions with other Dukascopy traders.

 

6. Dukascopy Social Trading Contest (Monthly)

This is a Copy-Trading Contest –Copy profitably the signals provided by other traders, and win.

 

7. Dukascopy Other (No-Trading) Contests (Quarterly)

Dukascopy offers also a number of other no-trading contests, for example, the Dream Contest – It provides the chance to share your dreams and maybe see them happen. A very innovative idea and nice.

 

8. Dukascopy Equity Bonus -Up to $50,000

Dukascopy offers from time to time equity bonuses. At the time of this review, Dukascopy was offering a 10% equity bonus up to $50,000. Any bonus must be covered by trade volume {30,000 X Total Equity Value} for it to be withdrawn. The maximum bonus amount that can be awarded to each client is $50,000. 

► Register with Dukascopy

 

 

■ Dukascopy Trading Contests

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Dukascopy Trading Platforms & Trading Orders Review

Dukascopy offers a good variety of trading platforms covering all Forex Trading Styles (Intraday, Short, and Long-Traders). Clients may trade using Manual and Automated methods. All Dukascopy platforms enjoy access to the SWFX Market (Swiss Forex Marketplace). But first, let’s review the trading orders available at Dukascopy.

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Dukascopy Trading Orders

All Dukascopy trading platforms include the following orders:

1. Market Order

2. Limit Order

3. Stop Order

4. Take Profit Order

5. Stop-Loss Order / Stop Limit Order

6. Trailing Stop Order

7. Place Bid / Offer

8. OCO Order (One-Cancels-the-Other)

9. IFD Order (If-Done-Order)

10. Slippage Control Order

 

Dukascopy Trading Platforms

1. JForex Trading Platform (Automated / Manual Trading)

JForex is an innovative platform developed in-house by Dukascopy offering both manual and automated trading capabilities. Traders using JForex may develop and test their own strategies or incorporate trading strategies from other providers. Trading strategies in JForex are programmed in a Java environment. Traders may also take advantage of integrated technical analysis tools and also open/close positions directly from JForex charts (trading-from-charts). Here are some of JForex's unique characteristics:

i) Automated trading strategy visualization

ii) Historical backtest analysis via real tick data

iii) 180+ Forex trading indicators

iv) Full market depth

v) Offer and Bidorders directly to the market

vi) Supports multiple Operating Systems (Windows PC, Mac, Linux, etc.)

2. Java Platform (Manual Trading)

The Dukascopy Java platform is designed exclusively for manual trading. Various technical analysis tools and market research are included and fully integrated into the Dukascopy Java platform.

3. Web Trading Platform (Manual Trading / Instant Market Access)

The Dukascopy Web Trader offers instant market access via manual trading. It includes updates and market depth. In addition, it provides market research, position management, and a multi-lingual interface.

4. Dukascopy Mobile Traders

Dukascopy offers trading via iOs and Android mobile devices including the SWFX market and a full set of technical analysis tools and trading features.

(i) Dukascopy Mobile Trader for Apple iOS (iPhone and iPad)

(ii) Dukascopy Mobile Trader for Android

5. MetaTrader4 using 3^rd Party Bridges

Dukascopy clients can also use 3^rd party bridges to trade Forex using the popular platform MetaTrader4. The advantage is that traders can still gain full access to the SWFX Market.

6. FIX API Platform

Dukascopy provides also API Trading capabilities. The available API is based on the protocol FIX4.4. The Dukascopy API can receive real-time data but also execute, submit, modify, and cancel trading orders.

 

Compare Dukascopy Trading Platforms

Here is a basic comparison of Dukascopy Trading Platforms and their Features:

Platforms & Features	JForex	JAVA Trader	Web Trader	Apple Trader	Android Trader
Offer & Bid Orders	✓	✓	✓	✓	✓
Automated Trading	✓	X	X	X	X
Technical Analysis	✓	✓	✓	✓	✓
News and Analytics	✓	✓	✓	✓	✓
1-Click Trading	✓	✓	✓	✓	✓
Trailing-Stop Orders	✓	✓	✓	✓	✓
Multi-Lingual Interface	✓	✓	✓	✓	X
Hedging Support	✓	✓	✓	✓	✓
Slippage Control	✓	✓	✓	✓	✓
Market-Alerts	✓	✓	✓	X	X
Customize Settings	✓	✓	✓	X	✓
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■ Dukascopy Trading Platforms Review

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