Dukascopy Europe - Is It a Good Broker in 2024?
When you begin your forex investment journey, there are many brokers to choose from. It can be overwhelming because of the wide array of options you have available. It's important that you take time to analyze some of the most popular investment brokerage companies so that you can see which features are most profitable for you before you make a final decision. By reading this, you've already started the process of researching and analyzing some of the top investment brokerage companies.
One of the main forex trading companies available is Dukascopy Europe which was founded in 2004. Dukascopy Europe is a member of the Swiss Banking Group and it has one of the leading platforms for forex trading. It has unique features for its traders as well strong client protection policies. Dukascopy Europe is a licensed investment brokerage company that serves over 28 European Union countries. It’s a good place to start your forex trading, but is it the best option for you?
In this article, we’ll analyze one of the most popular forex banks in Europe to see whether it’s a good broker for you to invest with. Here are some pros and cons of using Dukascopy Europe for forex trading along with detailed information about what it has to offer.
Is Dukascopy Europe a Good Broker in 2024?
Dukascopy Europe is a Swiss investment brokerage company that has an EU entity. It is regulated by the Markets in Financial in Financial Instruments Directive, and the Financial and Capital Market Commission.
These regulating bodies oversee the policies that are implemented in Dukascopy Bank to ensure that the company maintains a high level of quality for its clients. It is officially registered in the Commercial Register of the Republic of Latvia with this registration number: No.40003344762.
Dukascopy Europe offers a wide range of markets for clients to invest in. This includes the following:
Three grades of oil
Three grades of gas
Three grades of copper
6 soft commodities
3 bonds
Most of the liquid stock CFDs come from these countries:
Austria
United Kingdom
United States of America
Hong Kong
Switzerland
Italy
Norway
Portugal
Netherlands
Japan
Germany
France
Finland
Denmark
Belgium
With this range of markets available in different countries worldwide, Dukascopy can give you diverse options for your investment decisions. It's helpful to get some time to research and analyze what the company can offer you before you make a decision about your forex trading investment.
Dukascopy Bank - General Information
It’s also important for new forex trading investors to have adequate information about the bank they choose to invest with. This includes information about deposits, available currencies, etc. The table below gives a brief overview of what you get with Dukascopy Bank:
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💰 Account currency:
USD, CHF, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, RUB, CNH, SEK, SGD, TRY, XAU and ZAR
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🚀 Minimum deposit:
$100
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⚖️ Leverage:
Up to 1:200
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💱 Spread:
From 0.1 pip
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🔧 Instruments:
Currency pairs, indices, cryptocurrencies, stocks, metals, binary options
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💹 Margin Call / Stop Out:
100%/200%
Dukascopy Europe Pros and Cons
👍 Advantages of Broker:
• Regulated by FINMA, Swiss Banking License, and FSA
• Wide array of options for trading including cryptocurrencies, bonds, and commodities
• Wide range of research tools, banking services, and trading contests
•Dukascopy offers a proprietary trading platform (JForex) available on Android & iOS
• Up to $100,000 of clients’ funds are secured
👎 Disadvantages of Broker:
• Charges fees for inactive accounts
• Only Dukascopy EU traders have the $100 minimum deposit while non-EU traders have a minimum deposit amount of $1,000
Dukascopy Europe Review
If you're a beginner in forex trading, then you'll greatly benefit from the wide range of research tools that Dukascopy offers its traders. It gives you educational content that helps you in the early stages of your investment. The trading contests give you a good place to start to get started in the competitive aspects of forex trading. You get to compete with other Dukascopy traders and learn more about better strategies to approach forex trading in general.
Dukascopy Europe offers a wide range of trading options, making it an attractive choice for new forex trading investors. Here are some of the trading options that are offered:
Assets with over 61 currency pairs
43 ETFs that are listed in the United States of America
19 indexed CFDs
Equities from over 14 countries
11 commodities with diversification opportunities
ETFs
Bonds
These are all really good options to start your forex trading journey, it’s up to you to decide which options are best for you and what you’d like to invest in. Even when you do eventually decide what you’ll likely invest in, Dukascopy offers the JForex app for its traders to track their investments on their Android or iOS phones.
This is one of the bank’s latest proprietary trading platforms that adds onto the unique features that Dukascopy offers its traders. JForex offers research trading tools, trading contests, and even several bonus programs for traders.
Dukascopy Europe - Fees
Learn more about Brokerage feesThe fees associated with forex trading vary according to several factors. The trading costs aren’t the same because they vary according to trading volumes, equity, and net deposits. Here is a brief overview of the fees you should expect to incur:
Islamic accounts incur an extra cost of $5-$7 per $1 million in trading value for precious metals and currencies
Euros and US dollars have a minimum markup of 0.1 pips
MT4 trading accounts get $1 in commission per standard lots
CFD commissions start from $35 per $1 million in trading value for commodities and currencies, this commission decreases as equity increases
Equity CFD commissions are 0.10% of the trade value, but US shares are $0.02 per share
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Hopefully, this information can give you clarity on the types of fees you may incur and what you should expect.
Is Dukascopy Europe Regulated? Is This Сompany Safe?
How to avoid scam? Learn more about itDukascopy is a a well-regulated bank that has been in business since 2004. It is also a highly trusted bank according to Forex Brokers.
Photo: Dukascopy Europe Regulation
Dukascopy Europe has an overall trust score of 90, it has tier-1, tier-2, and tier-3 licenses as well as regulation from the FCMC. This makes Dukascopy a safe company to invest your money with. Dukascopy Europe prioritizes client protection, and you can read more about their protection policies here.
Summary: Is Dukascopy Europe a Good Broker?
Dukascopy Europe is a good broker because it is highly regulated, well trusted, and it has all the licenses necessary to operate in forex trading. With over 10 years of experience, Dukascopy has created unique features that traders can benefit from. It has implemented groundbreaking client protection policies that it upholds according to Swiss & EU laws. This can give you peace of mind to know that your money is safe, and you can get remunerations under certain circumstances.
The JForex app also makes the forex trading experience more engaging and convenient for traders because it is easily available on your phone. With this, you can access important information about forex trading, which makes it a valuable feature for traders.
For these reasons, Dukascopy Europe is a good broker to start your forex investment journey with, just make sure you do more research about Dukascopy and compare it with other brokers so that you can make an informed decision.
FAQs
Does Dukascopy offer client protection? Is it safe to invest with them?
Yes and yes, Dukascopy Europe has robust client protection policies that can help you mitigate your losses. You can learn more about those policies here.
Is Dukascopy Bank regulated?
Dukascopy Bank is regulated by Markets in Financial Instruments Directive, the Financial and Capital Market Commission, and Japan’s JFSA.
What is the minimum deposit required to open an account at Dukascopy?
For Dukascopy Europe, the minimum deposit amount is $100, but for the Swiss-based division, it is $1,000.
How do I withdraw my money from Dukascopy?
Dukascopy Europe offers many different options for money withdrawals. Here is a list of some of the ways you can withdraw your money from Dukascopy:
Bank wire transfer
Bitcoin
Ethereum
Bank Guarantees
Credit cards
Neteller
Debit cards
Skrill
It doesn’t matter which option you choose, just choose the one that is most convenient for you. Regardless of the method you use, you’ll find that it’s not complicated to withdraw your money from Dukascopy since there are so many options available for you to choose from.
Team that worked on the article
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
Bruce Powers is an expert trader and technical analyst with over 20 years of experience in Forex, commodities, ETFs, cryptocurrencies and other assets. He is an active trader, technical and fundamental analyst, media commentator, educator and a writer. As an author for Traders Union, he contributes his deep analytical skills, expertise and understanding of the global economy and financial markets to provide market analysis and insights. Powers is also a frequent guest on business TV news shows.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.