Review of the company
Dukascopy Bank was opened on November 2, 2004 in Switzerland. Dukascopy has offices throughout Europe and the Asia-Pacific region, with offices in Geneva, Hong Kong, Tokyo, Shanghai, Kiev, Moscow, Kuala Lumpur and Riga. At the place of registration, the company is regulated by the local FINMA commission. Dukascopy is a brand of the Swiss bank Dukascopy Bank SA, which through its Swiss Foreign Exchange Marketplace provides traders with access to the liquidity of the foreign exchange market. Dukascopy offers a full range of services in the foreign exchange market, using its extensive relationships with partner banks. Dukascopy is one of the few forex brokers that are registered as a full-fledged banking institution under the careful supervision and supervision of FINMA, Switzerland.
Overall, Dukascopy offers one of Forex’s best trading accounts, which is loved and promoted by hundreds of thousands of customers from around the world. Dukascopy was a well-known name in the US financial markets until the recent legislative changes introduced by the NFA and CFTC for Forex trading, which forced the company to curtail its operations in the United States in order to focus on providing top-class brokerage services to traders from other regions.
The trading account with the Forex broker Dukascopy is represented by one type of Live FX, which implies equal conditions for all customers, regardless of the size of the deposit. But the latter may differ depending on where you open it. For example, if you registered an account with a Swiss representative office, the minimum top-up amount for residents of the country will be $1000, and for non-residents – $5000. But, if your account is registered in the European “daughter”, then $100 will be enough to start. Overall, Dukascopy offers one of Forex’s best trading accounts, which is loved and promoted by hundreds of thousands of customers from around the world.
Can I trust a Broker?
The broker is not only subject to strict Swiss law, but is also under the supervision of the world’s most responsible regulators. The European division is based in Riga, so Dukascopy received a European license for conducting payment transactions and electronic payments. The Asian division is located in Tokyo, here the company received a type 1 license for brokerage.
Dukascopy Bank, as a large financial institution, is also controlled by a major regulator FINMA. In order to meet high standards, the company has internal auditors. An audit of the company’s activities is carried out regularly, and the results are published on the official website along with a report on financial activities.
Such openness to customers and constant internal verification of compliance with high standards makes us believe that the broker is reliable.
Dukascopy offers access to over 1,500 different stocks, 100 different currency pairs and even provides a wide range of other financial products such as options, CFDs, spread bets and ETFs. Since the company is an STP broker, all transactions are executed without intermediaries, almost instantly. Spread – floating from 0.2 points. The maximum leverage is set at 1:300. However, remember that on weekends the latter is limited to 1:33.
Among the assets, more than 60 currency pairs and the most liquid CFDs are available. And to make a purchase or sale, you can use the following platforms:
- JForex. The terminal allows you to trade not only manually, but also use automatic systems, as well as copy transactions of other participants. For analysis, as many as 270 indicators and various types of graphical tools are available here;
- The SWFX Web site receives liquidity from the 20 largest banks in the world, which allows traders to make transactions at the most favorable quotes. Transactions are executed instantly with minimal spreads;
- Mobile Apps for iOS and Android. Allow you to manage your account from anywhere using portable gadgets.
For investors, the company provides the opportunity to invest in PAMM accounts, information on which is contained in the “Forex Trading / Managed Accounts” section. You can also automatically copy trades of professional traders by selecting one of them from the overall rating and subscribing to its signals.
Deposit and withdrawal
Dukascopy accounts can be replenished with credit / debit cards, bank transfers and electronic wallets. Withdrawal of funds to a bank account arrives within 5 business days. In the European representation you will not have to pay any additional interest. In Swiss – the fee for this operation will be about $20. Commissions of third banks in this case were not taken into account.