Dukascopy Fees and Minimum Deposit - TU Expert review
Assessing the size of the fees is the second most important factor for choosing a broker after reliability. The lower the fees, the more diverse their structure, the more beneficial it is to trade with the broker. Minimum deposit is another important factor that may tip the scale in favor of a certain broker. This is particularly important for novice traders, who cannot afford to invest a lot at the beginning. Traders Union analysts have prepared an analysis of Dukascopy fees and also assessed the size of its minimum deposit.
Short introduction of Dukascopy
The company has been founded on 2 November 2004 in Geneva by Andre and Veronika Duka, Swiss nationals residing in Geneva who still own 99% of the company. Dukascopy Bank is regulated by the Swiss Financial Market Supervisory Authority FINMA both as a bank and a securities firm. Dukascopy Bank provides a wide range of free financial information and other attractive resources through its website, Dukascopy TV online television, Freeserv products and its active online Dukascopy community counting over 130'000 members. Deposit insurance protects the credit balances of private and corporate clients in the event of a bank or securities firm's bankruptcy. This guarantee is regulated by law. Dukascopy has an insurance fund with up to CHF 100 000 coverage per client and institution.
| 💰 Account currency: | USD, CHF, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, CNH, SEK, SGD, TRY, XAU and ZAR |
| 🚀 Minimum deposit: | USD 100 for Dukascopy Europe and USD 1000 for Dukascopy Bank |
| ⚖️ Leverage: | From 1:1 to 1:200 on weekdays/ from 1:1 to 1:20 on weekends |
| 💱 Spread: | From 0.1 pips for EUR/USD |
| 🔧 Instruments: | Over 1200 trading instruments on CFD, currency pair, commodities, stocks and cryptocurrency |
| 💹 Margin Call / Stop Out: | 100%/200% |
Dukascopy Pros and Cons
👍 Advantages of trading with Dukascopy:
•Attractive trading conditions;
•regulated by FINMA;
•19 years in the market;
•deposit protection up to CHF 100 000 per client;
•online account opening with video identification;
•large liquidity pool- 20+ banks;
•ECN trading technology;
•low spreads - from 0,1 pips on EUR/USD;
•instant order execution;
•wide range of free financial information and other attractive resources through its website, Dukascopy TV online television;
•wide variety of trading platforms, JForex, MT4, Forex mobile;
•manual and automated trading and trading directly form the chart;
•hedging and scalping allowed;
•sliggage control;
•swap free accounts upon request;
•250 indicators and chart studies and automated trading historical tester;
•wide range of trading orders: MIT, limit orders, eco and TP/SL orders;
•high-quality customer service- 24/7 customer support available in 12 languages;
•up to 100% deposit bonus.
👎 Disadvantages of Dukascopy:
•leverage up-to 1:200;
•higher trading commissions for Islamic account traders;
•each account is given a deposit limit based on the information provided at the account opening;
•impossible to open new positions on weekends.
Key types of fees on Forex
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Forex market:
-
Spread – the difference between the buy and the sell price of an asset.
-
Commission per lot.
-
Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
Dukascopy Commissions and Fees
The experts at the Traders Union inspected Dukascopy to check for both trading and non-trading commissions. Trading commissions mean spreads set by the broker, non-trading commissions mean account funding or withdrawal fees.
| Account type | Spread (minimum value) | Withdrawal commission |
| Live FX | $22.5 | No |
Why is it important to assess minimum deposit?
It is important for beginners and traders with limited financial capabilities to assess the minimum deposit of the broker. Different brokers offer different levels. Some companies focus on working with professional traders and their entry threshold is usually in the thousands or tens thousands of US dollars. Brokers that work with beginners offer low minimum deposit. It could be $500 or $100, or even $1.
In addition minimum deposit may differ depending on the account type. This is also an important factor to analyze. If a broker offers a low entry threshold, traders can get better conditions and still not spend too much money on funding their account.
Dukascopy Minimum deposit
How to Start Making Profits — Guide for Traders
To start trading with Dukascopy, you must open an account with Dukascopy. In particular, the Live FX account is only available to traders who have opened a bank account. For demo accounts, a short registration is sufficient. To fund a Live account, the trader has 24 currencies to choose from. The trader can also invest by opening a PAMM account.
Types of accounts:
Traders can trade both on the proprietary platform of the broker (SWFX), on the standard MetaTrader 4 platform, or in the mobile application. Due to the variety of trading platforms, it is not necessary to have a PC and you only need to use a smartphone.
Brokers similar to Dukascopy
When analyzing Dukascopy, it is important to compare it with other similar companies. Before you choose a broker, it is important to compare its trading conditions with competitors. Traders Union analysts have prepared a comparison of the minimum deposit and other trading conditions of Dukascopy and other brokers.
Comparison of Dukascopy with other Brokers
| Dukascopy | RoboForex | Pocket Option | Exness | Forex4you | AMarkets | |
|---|---|---|---|---|---|---|
|
Trading platform |
Mobile Trading, WebTrader, JForex, Java |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, Mobile Trading, MT5 |
MT4, MT5, AMarkets App |
|
Min deposit |
$100 |
$10 |
$5 |
$10 |
No |
$100 |
|
Leverage |
From 1:30 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:10 |
From 1:1 |
|
Trust management |
No |
No |
No |
No |
No |
No |
|
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
|
Spread |
From 0.1 points |
From 0 points |
From 1.2 point |
From 1 point |
From 0.1 points |
From 0 points |
|
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
|
Execution of orders |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
|
No deposit bonus |
No |
No |
No |
No |
No |
No |
|
Cent accounts |
No |
Yes |
No |
No |
Yes |
No |
Expert Opinion
When comparing FTMO to similar prop firms, its conditions seem generally competitive and a balanced offering. With reasonable fees, enough leverage for many styles and an achievable cost starting from €155, it presents a solid choice for prop traders to evaluate further. There are also no added commissions on top of the spread which keeps trading costs low.
Some traders may find the testing requirements to be on the strict side, but this ensures people have proven themselves capable of managing risk before gaining access to larger funded accounts.
Overall, for those interested in prop trading and wanting the guidance of a funded program, FTMO offers a decent option to consider. Just be prepared to treat the challenge period like the job interview that it is.
Conclusion
Analysis of Dukascopy shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.
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FAQs
Is there trading without fees?
No. A broker may charge a minimum fee, but it will still be a fee. However, the company’s main source of revenue could, for example, be non-trading fees.
What spread can be considered low?
Ideally, the spread should be at 0.1 pips for EURUSD. However, if the spread is lower than 1 pip, it can also be considered a low level.
Can you reduce the fees?
As a rule, the fees depend on the trading account type. Also, companies may have special offers.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!