FXTM vs Dukascopy - Fees Review included
Which broker is better FXTM or Dukascopy? Our expert assessment conducted according to TU’s own methodology showed that FXTM is one of the top brokers in the financial market with the TU Overall Score of 5.9 out of 10. Dukascopy is one of the top brokers in the financial market with the TU Overall Score of 5.78 out of 10. Find out more about TU Overall Score.
| Feature | FXTM | Dukascopy |
|---|---|---|
Overall |
4.5 |
4.4 |
4.9 |
4.8 |
|
4.7 |
3.5 |
|
4.5 |
5 |
|
Investment Instruments |
4.2 |
4.0 |
Platforms and Charting Tools |
4.3 |
5 |
Deposit and Withdrawal |
4.6 |
4.1 |
Research |
4.5 |
4.6 |
Education |
4.6 |
3.9 |
Support |
4.4 |
4.2 |
Bonuses |
2.9 |
4.8 |
|
|
|
FXTM vs Dukascopy: Pros and Cons
Broker FXTM (pronounced "ForexTime") started in 2011. It provides an opportunity to make a profit through active trading or investment programs. The company is regulated by CySEC (Cyprus Securities and Exchange Commission), South African FSCA (Financial Sector Supervision Authority), UK FCA (Financial Conduct Authority), and FSC (Mauritius Financial Supervisory Commission). The broker has received many awards, including "Best Trading Conditions" (2018, 2019) and "Most Innovative Broker" (2018).
Dukascopy Bank SA is a Swiss online bank that provides its clients with online and mobile trading as well as banking and financial services. According to the law, Dukascopy, like any other Swiss bank or brokerage company, is a party to a deposit protection agreement. The EU is also on the lookout for client funds.
| FXTM | Dukascopy | |
|---|---|---|
| Overall Pros | Direct US stock trading with zero fees | providing clients with up-to-the-minute quotes |
| Stock baskets | permission to use algorithmic bots to automate trading; | |
| 3 types of ECN accounts | clients’ funds are secure up to CHF 100,000 | |
| Low fees and near zero spreads | ||
| Well regulated forex broker | ||
| FXTM invest copy trading platform | ||
| Trading signals and trading calculators tools | ||
| Overall Cons | Lack of cryptocurrency | the registration and verification processes are complicated and time-consuming |
| trading terminals periodically hang up and fail to work | ||
| the trading commission per 1 lot is high |
FXTM vs Dukascopy: Safety and Regulation
| Regulated By: | FXTM | Dukascopy |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
ForexTime is registered with the UK Financial Conduct Authority (FCA) under the number 600475 and is regulated by the CySEC of Cyprus (under number 185/12) and the South African FSCA (number 46614). The broker is also regulated by the Financial Services Commission of the Republic of Mauritius, FSC (number C113012295). |
FINMA (Switzerland) |
FXTM vs Dukascopy: Trading Conditions
| Trading Conditions | FXTM | Dukascopy |
|---|---|---|
Minimum Deposit |
$50 |
$100 |
Trading Platforms |
MT4, MT5 |
JForex Trader, MetaTrader 4, SWFX |
Max Leverage (Futures) |
1-2000 (not for all markets) |
1-200 |
Supported Markets |
Forex, Stocks, CFDs on stocks, indexes, Commodities, Metals |
Forex, indices, cryptocurrencies, stocks, metals, binary options |
Trading assets |
1000+ |
20000+ |
Trading Accounts |
Standard, Cent, Stocks, Stock CFDs, ECN , ECN Zero, FXTM pro |
Demo FX, Live FX |
Base Account Currencies |
USD, EUR, GBP, NGN |
USD, CHF, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, CNH, SEK, SGD, TRY, XAU and ZAR |
FXTM vs Dukascopy: Fees
Forex Trading Fees
| Fee | FXTM | Dukascopy |
|---|---|---|
Standard Account EURUSD Average Spread |
1.5 pips |
2.25 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$2 per lot |
$1.4-3.5 per lot |
ECN Account EUR Average Spread |
0.1 pips |
0.1 pips |
CFD Trading Fees
| Fee | FXTM | Dukascopy |
|---|---|---|
CFD Trading Fee |
Floating spread |
$0.5-$3.5 per lot |
Non-Trading Fees
| Fee | FXTM | Dukascopy |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
0-2.5% |
Withdrawal Fee |
Bank 30 EUR, Card - 3 USD / 2 EUR / 2 GBP, FacaPay - 0.5% |
Bank Transfer $1-50, Bank Cards - 2.5% + $1.5, Neteller and Skrill - 2.5%, Crypto - $30 |
Inactivity Fee |
$5 per month after 6 months of inactivity |
200 CHF per mouth after 12 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
FXTM vs Dukascopy: Trading Assets
| Asset Name | FXTM | Dukascopy |
|---|---|---|
Overall |
1000+ |
20000+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
No |
Yes |
Energy |
Yes (CFD) |
Yes |
Indices |
Yes (CFD) |
Yes |
ETFs |
Yes (CFD) |
Yes |
Bonds |
No |
Yes |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
Yes |
FXTM or Dukascopy: Investment Programs
| Asset Name | FXTM | Dukascopy |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
Yes |
Managed Accounts |
Yes |
Yes |
Other |
No |
No |
Trading Platforms: Dukascopy or FXTM
| FXTM | Dukascopy | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
FXTM invest |
SWFX |
Others |
No |
JForex |
|
|
|
FXTM vs Dukascopy: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FXTM | Dukascopy |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
Yes |
FXTM vs Dukascopy: Research
| Research Type | FXTM | Dukascopy |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
FXTM vs Dukascopy: Education
| Education Type | FXTM | Dukascopy |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
Dukascopy vs FXTM: Support
| Support Features | FXTM | Dukascopy |
|---|---|---|
Working Days |
24/5 |
24/6 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
callback, Telegram, Messenger Facebook, WhatsApp, |
Callback |
FXTM vs Dukascopy: Forex Bonuses and Promo
| Promo | FXTM | Dukascopy |
|---|---|---|
Forex Bonus |
cashback of up to $5 |
10% deposit bonus, 20% discount on trading commission if you participate in the discount program, anniversary bonus from the company in the amount of 100% of the client's account; |
Affiliate Program |
Refer a friend. For each new invited client, the partner receives $50 |
A discount of 100% of the trading commission for inviting a friend to the company |
Other Promos |
Contests for Traders |
|
|
|
|
Top 5 Reviews on Dukascopy
-
Comment
In my opinion, Dukascopy deserves attention from traders. They have been in the market for a long time and are considered a serious company. A big plus is the presence of licenses and client fund insurance, which ensures reliability and investment protection. I don't have to worry about my funds because I'm confident the broker won't deceive me. They also do not interfere with trading and provide reliable quotes with fast execution. I have encountered some issues while trading with Dukascopy. However, these problems are not critical for me.
-
Comment
I'm having trouble trading with Dukascopy. I have experience trading in financial markets. But for some reason, I can't seem to make a profit on this platform, even though I'm doing everything as before. I've lost a lot of money already and I'm trying to break even to leave the project. Nothing is working, and it's really frustrating me. I feel like money will gradually drain from my Dukascopy account, and soon I'll be bankrupt.
-
Comment
That's it, I'm ending my trading with Dukascopy. While they may be trustworthy in terms of fund withdrawals, the broker is very weak in terms of trading. Firstly, they constantly increase the broker's commission, as well as the withdrawal fee. And secondly, spread widening often triggers the stop-loss. In general, after another series of losing trades, I decided to terminate my cooperation with Dukascopy.
-
Comment
I traded with Dukascopy, but I stopped. Order execution is bad now, and approval of withdrawals takes too long. Somehow it has deteriorated greatly, I hope it won’t become a scam.
-
Comment
At Dukascopy, quotes do not match the market. Several times my trades were closed by stop loss when the chart was going up everywhere. I lost $9,000 and now they do not withdraw my balance. There has been no money for 6 weeks now. They do what they want.
Top 5 Reviews on FXTM
-
Comment
I noticed a great difference between trading on a demo account and a live one with FXTM. There were no requotes or significant slippages on the demo account, which created the illusion of simple trading. However, when switching to a live account on the FXTM platform, some technical problems arose that made successful trading difficult. Apparently, real conditions require a more attentive and cautious approach to trading.
-
Comment
One day I decided to try my hand at trading with FXTM. However, they don't seem to be very interested in new traders. Managers from FXTM did not even want to help me complete the verification procedure to withdraw funds. In the end, I earned some money, provided them with the necessary documents, but they still blocked my user account when I submitted a withdrawal request. They refused to even discuss it and treated me rudely. FXTM managers are simply disrespectful.
-
Comment
I decided not to trade with FXTM. I won’t deny it, I limited myself to only testing a demo account with this company. It turned out that the order execution speed is very low, so orders are opened at unprofitable prices, and it is impossible to conduct a normal market analysis. I think I'm not the only one who encountered such problems at FXTM.
-
Comment
FXTM is creating problems when traders execute successful trades. At first glance, they give traders the opportunity to work and even withdraw small amounts of profit. However, as soon as profitable operations begin, difficulties occur. Withdrawing funds becomes problematic as support begins to suspect its clients of “dubious trades”. I don't recommend FXTM.
-
Comment
FXTM is a dishonest broker! I don’t even want to recall how I was deceived here! The support assured that everything was transparent and there was no manipulation. Then why does the price always, before closing an order, suddenly go against me? And it would be okay if it were on several trades! But this happens all the time! FXTM just completely took my deposit!
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
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.