Dukascopy

In 2004, the company was founded. Dukascopy Bank is a Swiss online bank that is headquartered within Geneva, Switzerland, providing trading online (with particular focus on bullion, foreign exchange CFD and binaries) as well as banking and financial services via its proprietary technology solutions.

The broker operates an EU subsidiary in addition to an overseas unit (as as a result of the taking over Alpary Japan in the beginning of 2015.). Alongside its Geneva headquarters, Dukascopy Bank has offices in Zurich, Riga, Kiev, Moscow, Kuala Lumpur and Hong Kong.

All Dukascopy customers benefit from Dukascopy’s Swiss Forex Marketplace (SWFX) ECN trading model. The pricing model of the broker is transparent, as the operational metrics. To add to this, Dukascopy offers a historical data feed, as well as a market depth monitors too.

Security of Funds

Dukascopy is controlled by the Swiss Financial Market Supervisory Authority (FINMA) in both its capacity as a bank and securities dealer. This broker is safe for safety and security.

The process of obtaining a license for a broker isn’t an easy feat since applicants must abide with strict standards, such as the requirement for a minimum capital in the amount of CHF 20 million. Additionally, Swiss forex brokers are required to sign the Swiss Banks and Securities Dealers agreement, which safeguards any customer deposits the amount of CHF 100,000.

The brokerage’s subsidiaries are legally regulated: Ducascopy Europe AS is an EU licensed investment broker located in Latvia and is controlled locally by local Financial and Capital Market Commission (FCMC); Dukascopy Japan is licensed Type-1 from JFSA. Financial Services Agency of Japan (JFSA).

Additionally, Dukascopy Bank exercises consolidated supervision from Switzerland over its subsidiaries. This guarantees adequate liquidity and risk diversification, as well as capital adequacy at the Group level.

Trading Conditions

Minimum initial deposit

The initial requirement for deposit of $1,000 may be little unwelcome to those looking to start out with a lower amount, but the broker’s research and educational section is awe-inspiring and will likely make a successful trader from an animal. Charts, calendars market news and research including signals, calculators and a host of other tools are at traders’ at their disposal.

Average Spreads & Commissions

The spreads that are offered from Dukascopy are flexible and fairly tight. with an average of 0.2 per cent for the EUR/USD pair however, traders are required to pay a fee in the amount of $7.50 per lots for a round journey. The price of trading with Dukascopy is approximately 0.9 percent per lot for the EUR/USD currency pair. This is very cheap and competitive pricing. Many brokers have spreads that fall within the band of 1.0 1.5 to 1.5 pips for EUR/USD.

Comparatively, Swissquote, the sole other licensed Swiss broker, has flexible spreads beginning at 1.8 pip on USD/EUR (and has no commissions).

Maximum Leverage

Dukascopy offers its clients the maximum leverage of 1:100 which is considered to be a very low market ratio. If you are looking for greater leverage, many forex brokers provide leverage that is greater than or equal to 1:500. Remember, however, that greater leverage will increase the risk involved in trading with margin. That’s why Swissquote offers provides leverage as high as 1:100, and advises novice traders to utilize leverage less than that.

Trading Platforms

Ducascopy is compatible with the ever-popular MetaTrader4 (MT4), and it also provides its own Forex trade platform JForex.

The MT4 does not require a presentation. It is the most well-known trading platform, which is extensively used from traders with all levels. The platform is a great charting tool and is particularly well-known for the automated trading bots known as ExpertAdvisors.

JForex platform was designed to serve traders who are interested in automated trading, or creating and testing trading strategies using the JAVA programming language. It is accessible as mobile, desktop and web versions. Here are a few tools and features it provides:

250 chart studies and indicators

Calendar of economic news, events and other

Automated trading on the your machine or on the Strategy Server

– Tester for historical trading that is automated

— Renko Bars, Range bars Line break charts, Point&Figure, and Range bars

– Mql4 expert advisor convertor to JAVA

Dukascopy’s web-based JFrorex. Click to expand.

Additionally, the broker provides the option for API integration for traders who are professional (who have deposited a minimum amount in US$ 100.000). Dukascopy API Dukascopy API is built on the FIX4.4 protocol. This API can be used to receive a live feed of data send orders, create and modify or cancel orders and also receive automatic notifications of trading activity.

Additionally, Dukascopy offers social trading features.

Methods of Payment

Customers of Dukascopy are able to make deposits and withdraw funds from their accounts through debit cards, bank wires (Maestro, Visa Electron) and credit card (MasterCard, Visa). In contrast to most broker, Dukascopy does not support electronic-wallets like Skrill, Neteller and PayPal.

Conclusion

Dukascopy Bank is a Swiss forex broker that offers a broad array of financial instruments that you can trading on its robust JForex platform. Being licensed as a bank in addition it is secure and well-regulated. It also provides excellent trading conditions, including extremely tight spreads and speedy ECN execution via SWFX. SWFX Swiss FX Marketplace technology.