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Editor Rating
- 5/5 – Excellent
- Dukascopy review
- Website:
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Review Summary:
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Dukascopy offers Internet-based banking services as well as trading services in Forex, precious metals, and binaries. It uses a wide range of trading platforms to meet the needs of its clients. Its platforms include MetaTrader 4, JForex, and Dukascopy Web Platform. The company also has mobile platforms so traders can use their accounts on the go.
Table of contents
The Internet revolutionized the way many people approach Forex, precious metal, and stock trading. Online brokers can make it easy and affordable for beginning and advanced traders to make informed decisions. The specific features, however, can differ greatly from one broker to the next. This makes it important for all traders to research online brokerages to make sure they choose options that match their needs.
In most cases, traders want to find stable platforms that let them execute trades as quickly as possible. They may also want access to information that helps them make informed decisions.
There are many companies offering these and similar services online. It is best to compare reviews of several companies before you open an account.
Introduction to Dukascopy
Dukascopy is different from most online trading brokers. The company offers Internet-based banking services as well as trading services in Forex, precious metals, and binaries.
The company was founded in 2004 in Geneva, Switzerland.
Dukascopy uses a wide range of trading platforms to meet the needs of its clients. Its platforms include MetaTrader 4, JForex, and Dukascopy Web Platform. The company also has mobile platforms so traders can use their accounts on the go.
Dukascopy has excessive liquidity that makes it a great option for traders who want to invest a lot of money. Those investing smaller amounts can still benefit from their Dukascopy accounts, but they may not notice any effects of the company’s large amount of liuid capital.
Today, Dukascopy stands out as one of the top online traders for Forex, precious metals, and stocks. Before you decide to open an account with Dukascopy, though, it’s important to understand what your account will give you and how Dukascopy services compare to those of similar companies.
Dukascopy Services
Forex Trading Accounts
Dukascopy offers four types of Forex trading accounts. Forex accounts include precious metal as well as currency trading.
- Accounts with $100 to $4,999 give clients access to SWFX technology.
- Accounts with $5,000 to $99,999 give clients access to SWFX technology.
- Accounts with $100,000 to $249,999 give clients access to SWFX technology, TRading API, and Bank guarantees.
- Accounts with $250,000 or more give clients access to SWFX technology, Trading API, Bank guarantees, and Third bank custodian services.
It’s important to note that Dukascopy will only open accounts with less than $5,000 in them for Swiss residents. Non-Swiss residents will need at least $5,000 to start accounts.
eBanking
Dukascopy ebanking comes with a range of services to meet the needs of average and advanced clients. Clients get:
- 24/7 banking support
​ - Online access to account statements
- Online payments
- Secure access with 256-bit encryption
- Mobile access via iPhone or iPad
Not everyone will need an ebanking account through Dukascopy. Those who do, however, can consolidate their financial activity into a single account.
Credit Cards
Dukascopy members can order a variety of credit cards from SwissCard AECS AG, including:
- American Express Platinum
- American Express Gold
- MasterCard Platinum
- MasterCard Gold EUR
- MasterCard Gold USD
This option is most useful for members who already use Dukascopy’s ebanking services.
Dukascopy Features
Dukascopy has a range of features that may make it appealing to some clients. Clients get the benefits of:
- Equal Trading Rights that give all clients equal opportunities instead of favoring some clients over others
- Transparent Pricing Environment that gives clients easy access to prices via one data feed
- Instant execution so traders can act at precise moments
- News and analytic tools to help members make informed trading choices
Comparing Dukascopy With Competitors
Dukascopy has set itself apart from most online traders. The company offers much more than a reliable trading platform. It established itself as a bank, so members can open accounts, get credit cards, and use other financial services that they would typically get from their local banks. Not many companies have taken that step, so it’s difficult to compare them to Dukascopy.
Dukascopy does, however, have a dedicated following from pleased clients. Many of these clients are professional traders who have years of experience. They enjoy Dukascopy’s flexibility and low commissions.
If you don’t want to invest several thousand dollars in your account, then Dukascopy probably isn’t the best option for you. High rollers, however, can find a welcoming home in Dukascopy.
Dukascopy Customer Service
Dukascopy offers 24/6 customer service. Clients who prefer 24/7 service may want to look elsewhere. The reality, however, is that few online Forex traders offer 24/7 service. 24/6 customer service is actually quite good for the industry.
The best way to reach Dukascopy is by phone. The company also answers emails and has a presence on Twitter, Facebook, and Weibo.
Frequently Asked Questions About Dukascopy
[+] What funding options does Dukascopy accept?
Dukascopy accepts a variety of funding options, including:
- Wire transfers
- MasterCard and Visa credit cards
- Maestro and Visa Electron debit cards
- Bank guaranties
Dukascopy does not accept bank notes or cheques.
[+] Does Dukascopy offer trading via telephone?
Yes. Account holders can place orders over the phone by contacting the Trading Support Desk.
[+] Who regulates Dukascopy?
Dukascopy Bank is regulated by FINMA, the Swiss Financial Market Supervisory Authority. This agency oversees the company’s bank and securities dealing services.
[+] What documents do I need to open a Dukascopy account?
Potential customers can use several documents to open Dukascopy Bank accounts. Countries all over the world produce their own identification documents. Many of them are acceptable.
To keep things as simple as possible, it is best to use a valid passport.
[+] Can my business open a Dukascopy Bank account?
Several types of organizations, including banks and investment funds, have accounts with Dukascopy. Contact customer support for help deciding which option works best for you.
Pros of Using Dukascopy
- One-click trading
- Automated trading
- Uses the JForex platform, one of the most reliable options for online trading
- Mobile trading option
- Option to open an account with more than a dozen types of currencies from around the world
- Low minimum deposit ($100 for Swiss residents)
- Demo platform gives beginners a chance to learn how to use the trading platform
- Low commissions
- No max limits on trades
Cons of Using Dukascopy
- Does not accept bank notes or cheques
- Does not accept funding via PayPal
- Does not accept clients living in the United States
- 24/6 rather than 24/7 customer service may not meet the needs of all members
- Large amount of information may confuse beginners
Conclusion
While some clients will dislike aspects of Dukascopy, most people find that the company gives them strong services and a reliable trading platform that lets them choose their own levels of involvement. Realistically, Dukascopy probably isn’t the best option for beginning traders. Those who have plenty of experience and enough money to fund large accounts, however, often find that Dukascopy gives them access to reliable, honest transactions.
Dukascopy is one of the best Forex traders on the Internet. It gets positive reviews from most users. Before choosing which service you will use, bookmark the Dukascopy website and explore other options. There’s a good chance that you will return to the Dukascopy site. Whether you decide to start an account depends on what features you want most and where you live.
Overall, it’s a great option that stands out from competitors in several ways. If you want additional banking services with your trading platform, you probably won’t find a better option than Dukascopy. Still, it’s always wise to do additional research.
