Question 1

Is Dukascopy regulated and is client fund safety ensured?

Accepted Answer

Dukascopy Bank SA is regulated by the Swiss Financial Market Supervisory Authority (FINMA) and operates as a licensed bank and securities dealer. It follows strict Swiss banking regulations, offering deposit protection up to CHF 100,000 per client. Client funds are held in segregated accounts separate from the company's operational funds, ensuring strong financial security and transparency. Additional regulatory oversight comes from FCMC in Latvia and JFSA in Japan for subsidiaries. These measures provide a highly secure trading and banking environment, making Dukascopy a trusted and credible broker.

Question 2

What are the trading fees, spreads, and commissions at Dukascopy?

Accepted Answer

Dukascopy offers competitive trading costs with variable spreads starting from 0.1 pips on major currency pairs like EUR/USD. It uses a commission-based model where commissions start from $35 per million USD traded for forex pairs. Commissions decrease with higher trading volumes and account equity. Besides trading fees, clients may be subject to swap rates for overnight positions, inactivity fees after 180 days, and currency conversion fees ranging between 0.05% and 1.00% for cross-currency transactions. Withdrawal fees vary depending on the method used. Overall, Dukascopy provides transparent and competitive pricing, particularly benefiting active and volume traders.

Question 3

What deposit and withdrawal methods does Dukascopy support and how efficient are they?

Accepted Answer

Dukascopy supports multiple funding methods including bank wire transfers, credit/debit cards, e-wallets (Skrill, Neteller), cryptocurrency deposits (Bitcoin, Ethereum, Tether), and Apple Pay. Deposits are generally processed within minutes to a few business days depending on the method. Withdrawals typically take 1 to 3 business days but fees apply, especially for wire transfers which can range from $20 to $50. Cryptocurrency withdrawals incur network and processing fees. Dukascopy's withdrawal fees are higher compared to many competitors, which traders should consider if frequent withdrawals are required. Overall, the deposit and withdrawal system is comprehensive but fees may be a drawback for some users.

Question 4

What types of accounts does Dukascopy offer and what are the minimum deposit requirements?

Accepted Answer

Dukascopy offers several types of accounts to cater to different trader needs. The JForex ECN account requires a minimum deposit of $100, provides leverage up to 1:200, offers variable spreads from 0.1 pips, and volume-based commissions. The MT4/5 account has a higher minimum deposit of $1,000, with leverage up to 1:100. An Islamic (swap-free) account is also available upon request. Additionally, Dukascopy offers demo accounts with virtual funds for risk-free trading practice. Corporate, joint, and managed accounts are also provided, along with more premium accounts such as VIP with higher deposit thresholds and benefits.

Question 5

Is Dukascopy beginner-friendly?

Accepted Answer

Dukascopy primarily caters to experienced traders and may not be the most beginner-friendly broker. It provides advanced trading platforms such as JForex, MetaTrader 4, and MetaTrader 5 that offer a wide range of technical tools and automated trading features, which can be complex for new traders. Although educational resources like articles, webinars, and videos are available, they might not be comprehensive enough for complete beginners. The platform's learning curve combined with relatively high withdrawal fees can be challenging. However, motivated beginners with willingness to learn can still benefit from Dukascopy's offerings and robust customer support.

Question 6

What trading platforms are available at Dukascopy and which features make them suitable for traders?

Accepted Answer

Dukascopy offers multiple trading platforms including its proprietary JForex 4 platform (desktop, web, and mobile), MetaTrader 4 (MT4), and MetaTrader 5 (MT5). JForex 4 is highly advanced, supporting manual and automated trading with over 270 technical indicators, multiple chart types, and customizable interfaces. It is designed for sophisticated traders interested in algorithmic trading. MT4 and MT5 are widely-used platforms with extensive charting and analytical tools, plus automated Expert Advisors support. The platforms enable access to a broad range of trading instruments with fast execution speeds and integration of news and economic calendars, catering well to experienced traders.

Question 7

What investment and asset classes can I trade with Dukascopy?

Accepted Answer

Dukascopy offers a wide range of assets across major classes including Forex (over 60 currency pairs), CFDs on stocks (1000+ global stocks), indices (20+ global indices), commodities (gold, oil, natural gas, etc.), cryptocurrencies (18+ cryptos like Bitcoin and Ethereum), ETFs (85+), bonds, and binary options. These are mainly CFD products offering leveraged exposure but not direct ownership. The broker also provides options for trading crypto CFDs and a crypto-fundable account, integrating digital assets trading with traditional markets. This diverse offering caters both to investors seeking broad market exposure and traders looking for short-term opportunities.

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