Dukascopy provides two different trading account types e.g., Forex/CFD ECN account and Forex MT4 account, each account type has its own set of conditions for commission, margin calls, leverage, and minimum deposits.
Dukascopy at a glance
| Broker's Name | Dukascopy |
| 📍 Headquartered | Geneva, Switzerland |
| 📅 Year Founded | 2004 |
| ⚖️ Regulating Authorities | Financial Market Supervisory Authority (FINMA), Financial Services Agency of Japan (JFSA), Financial and Capital Market Commission (FCMC). |
| 🌐 Countries not accepted for trade | Belgium, Canada, Israel, US |
| ☪️ Islamic account (swap-free) | Yes |
| 📒 Account Types | Forex/CFD ECN Account Forex MT4 Account |
| 👍 Demo Account | Yes |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 200:1 |
| 💰 Minimum Deposit | 100 USD/ZAR1 600 |
| 💳 Deposit & Withdrawal Options | Bank Wire, VISA, Bank Guarantees, Maestro, Neteller, Other Crypto Currencies, Skrill |
| 💻 Platform Types | MetaTrader4, JForex Desktop, JForex Web, iOS and Android platforms |
| 📈 Tradable assets offered | Cryptocurrencies: (2) Bitcoin, Ethereum CFD: (605+) Gold, Silver, Stock Indexes, Bonds, Oil, Other Commodities Desktop platform (Windows), (Mac), Web platform |
| 📱 OS Compatibility | Desktop, web, Android, iOS |
| 👨💼 Languages supported on Website | Twelve languages incl: English, German, Spanish, Polish, Russian, Italian, Chinese, and more |
| 👥 Customer Support Languages | Sixteen different languages including English, German, Spanish, Polish, Russian, Italian, Chinese and more |
| 📆 Customer Service Hours | 24 hours a day, 6 days a week |
| 📃 License Reg. No | 40003344762 |
| 📌Open an account | 👉 Click Here |
|---|
Min Deposit USD 100 Regulators FINMA, JFSA, FCMC Trading Platform MT4, JForex Desktop, JForex Web Crypto Yes Total Pairs 60 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Dukascopy Account Types Revealed – A Key 14 Point Quick Overview
- ✅Dukascopy at a glance
- ✅Dukascopy Overview
- ✅Dukascopy Account Types
- ✅Dukascopy Account Features
- Islamic Account
- Demo Account
- How to Open a Dukascopy Account
- Dukascopy Sign Up Bonus
- Dukascopy Minimum Deposit
- Customer Reviews
- Dukascopy Account Types Pros and Cons
- Conclusion
- Disclaimer
- Frequently Asked Questions
Dukascopy Overview
Dukascopy is a forex broker operating from Switzerland that provides traders with access to platforms that allow them to buy and sell foreign currencies. Retail traders use this broker to gain access to the 24-hour currency market for speculation purposes.
Forex broker services are also provided for institutional clients and large companies such as investment banks. Dukascopy brokerage was only founded in 2004 in Geneva, but Dukascopy Bank South Africa already originated in the 1990s and has extensive business interests. Dukascopy Bank South Africa is officially registered as a bank with the Swiss Financial Market (FINMA) authority.
Dukascopy Account Types
Dukascopy provides two main account types that each have their own unique trading conditions and serve the purpose of providing traders with a dynamic trading experience and environment along with being the best pricing schedule.
Traders can open an ECN account with Dukascopy Europe or Dukascopy Bank in Switzerland. Apart from regulatory jurisdictions, the main difference between these two entities is that the minimum deposit at the EU is just $100/ZAR1 600 while the Swiss entity requires $1 000/R16 000 ZAR.
The Dukascopy account types include:
- Forex/CFD ECN Account
- Forex MT4 Account
Traders who register through Dukascopy Bank S.A will be subjected to a minimum deposit of US Dollar 1,000/R16 000 ZAR.
Dukascopy Account Features
Dukascopy accounts have the following features:
| 🔎Account Type | 👉Open Account | 💰Minimum Deposit | 📈Leverage | 📊Spreads from | 🏛️Liquidity Provider | 💻Orders Execution |
| 🪙Standard Trading Account | 👉Open Account | $1000 | Up to 1:100 | 0.1 pips | Tier 1 Banks, ECNs | Market Execution |
| 🪙ECN Account | 👉Open Account | $5000 | Up to 1:200 | 0.1 pips | Tier 1 Banks, ECNs | Market Execution |
| 🪙VIP Account | 👉Open Account | $100,000 | Up to 1:100 | 0.1 pips | Tier 1 Banks, ECNs | Market Execution |
| 🪙MT4 Account | 👉Open Account | $1000 | Up to 1:100 | 0.1 pips | Tier 1 Banks, ECNs | Market Execution (MT4) |
Islamic Account
Dukascopy does offer traders who follow the Sharia law the option of an Islamic Account. Often an Islamic account is provided as an option where traders can convert their live trading account to an Islamic Account, or in other cases, it is a standalone account with a separate application procedure.
The purpose of an Islamic Account is that it caters explicitly to Muslim traders who follow the strict rules of Sharia law. These rules prevent followers from paying any type of interest, such as overnight fees, which are seen as exploitive or wasteful.
Demo Account
Dukascopy’s demo account imitates the conditions of a live trading account and gives traders access to the same functions, features, and options they would have on a live trading account, with the exception that the demo account is risk-free since they make use of virtual funds to conduct their trading. The demo account can be used unlimited, as long as you use it at least once every 14 days.
| 📒 Account | Demo Account |
| 💳 Spreads | from 0.1 pips |
| ⚖️ Equal rights for all | |
| 📌Open an account | 👉 Click Here 👈 |
|---|
How to Open a Dukascopy Account:
Similar to a bank, if you want to register a forex trading account with Dukascopy for the first time, you will be required to go through a basic “know your customer” process. Once you are ready for live trading, you can open a live trading account:
📒 Step 1 – Navigate to the Dukascopy website.
Select the link ‘live trading Account’ to register for the Dukascopy account.
📒 Step 2 – Complete a simple online registration form.
Complete the Dukascopy online registration form by filling out your name. surname, email address, telephone number, and following the KYC process.
📒 Step 3 – Verify your email address.
You will get the instructions to verify your identity via email or you can opt for video identification, which takes around 15 minutes with the help of the Dukascopy Connect app on your mobile device.
📒 Step 4 – Download the Dukascopy trading platform.
Once the KYC process is complete start trading on the Dukascopy live account by downloading the trading platform of your choice and funding your account
Dukascopy Sign Up Bonus
Dukascopy does not offer specific bonuses, also called a deposit bonus, with first time sign up, but does offer further promotions and bonuses like a volume trading commission discount programme and an equity bonus. New traders who register a real account with a broker may receive a sign-up bonus, a deposit bonus, or a welcome bonus.
Brokers usually offer this kind of bonus to new traders to draw more customers and encourage trading activities. Offering a deposit or welcome bonus gives traders some money back depending on the initial deposit made. Even if a trader does not receive any deposit bonus, or any other bonuses or rewards, trading conditions are still attractive enough to encourage traders to register a real account.
Dukascopy Minimum Deposit
Dukascopy has a minimum deposit requirement of only $ 100.This minimum deposit amount was equivalent to ZAR 1 600 at an average current exchange rate between the US Dollar and the South African Rand at the time of writing.
Dukascopy’s authorization as a broker and its regulatory authorities may require that client funds must be kept in segregated accounts, separate from the broker account, and that such funds could only be used by traders to conduct their trading activities.
| 🔍 Broker | Dukascopy |
| 💰 Minimum Deposit | $100/ZAR1 800 |
| 💳 Deposit Options | Bank Wire Transfer Credit/Debit Cards Bitcoin Bank Guarantees Skrill Neteller |
| 📊 Trading Platforms | MetaTrader4, JForex Desktop, JForex Web, iOS and Android platforms |
| 📌Open an account | Open Account |
Customer Reviews
Simple and intuitive platform, excellent broker and bank. I have been using it for more than 1 year and I am very happy with its service and support. – ItalianinUY
Guess how long does it take Dukascopy to fix a charting bug on iPhone … read on
Used the in-app “Chat with Broker” function to let the broker know of some charting bugs on iPhone (Ichimoku charts fail to display the most crucial data)…. – billy au
It took them 3 business days to process…
It took them 3 business days to process blockchain deposit. Right after they processed it they disabled debit card ordering for Russian citizens – the only service I needed. The support team ignore questions and work very slowly – it takes days to get a response.
Min Deposit USD 100 Regulators FINMA, JFSA, FCMC Trading Platform MT4, JForex Desktop, JForex Web Crypto Yes Total Pairs 60 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Dukascopy Account Types Pros and Cons
| ✔️ Pros | ❌ Cons |
| Both demo and Islamic accounts | Overwhelming website |
| Good customer support | Educational resources and products are limited. |
| 600+ tradable assets include Forex ECN trading | |
| Strong regulation under a Swiss banking license and by Japan’s FSA and European FCMC. | |
| Access to the high leverage of 1:200 | |
| Wide range of market research tools, trading contests, and bonuses. | |
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Conclusion
Dukascopy can be summarily described as a worthwhile company for potential traders, knowing that it is able to offer a host of features that are often unavailable with other Forex or binary options brokers. New traders will find many different features available and both new and experienced traders should have no trouble using them. Customers can benefit from all the information available on the site before they invest.
All information is available in many different languages and all types of trading are allowed, including scalping.
Disclaimer
Dukascopy warns all potential customers that Forex and CFDs trading always carries a high level of risk and may not be suitable for all investors.
Before deciding to trade the products offered by Dukascopy, potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.
Dukascopy warns that margin trading involves the potential for profit as well as the risk of loss and that movements in the price of foreign exchange and commodities are very unpredictable, hence Dukascopy cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.
Frequently Asked Questions
Can forex traders from South Africa open a live Dukascopy trading account?
Yes, South African traders are welcome to open a Dukascopy trading account.
How many instruments can I trade with Dukascopy?
You can trade several different instruments with a Dukascopy account incl: Forex currencies, Cryptocurrencies, CFD: Gold, Silver, Stock indexes, Bonds, Oil and other Commodities.
Which live trading accounts does Dukascopy offer?
- Forex ECN accounts
- CFD trading accounts
What are the available deposit currencies for a live Dukascopy account?
USD, CHF, EUR, GBP, CAD, JPY, SGD, PLN, AUD, HKD, DKK, MXN, NOK, NZD, RUB, SEK, TRY, ZAR, XAU, CNH, CZK, HUF, ILS, RON.
How long does it take to make a withdrawal from my Dukascopy account?
Withdrawals by means of certain methods may be processed within a day but depending on bank services it may take several days for the money to be available.
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