IC Markets vs Dukascopy - Fees Review included
Which broker is better IC Markets or Dukascopy? Our expert assessment conducted according to TU’s own methodology showed that IC Markets is one of the top brokers in the financial market with the TU Overall Score of 8.62 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 | IC Markets | Dukascopy |
|---|---|---|
Overall |
4.7 |
4.4 |
5 |
4.8 |
|
4.9 |
3.5 |
|
4.6 |
5 |
|
Investment Instruments |
4.9 |
4.0 |
Platforms and Charting Tools |
4.4 |
5 |
Deposit and Withdrawal |
4.6 |
4.1 |
Research |
4.3 |
4.6 |
Education |
4.4 |
3.9 |
Support |
4.6 |
4.2 |
Bonuses |
2.5 |
4.8 |
|
|
|
IC Markets vs Dukascopy: Pros and Cons
IC Markets Trading Company was founded in 2007 in Sydney, Australia. The broker is licensed under the Australian Financial Services License (AFSL) and the Australian Securities and Investment Commission (ASIC). The broker is also a member of the Australian Financial Complaint Authority (AFCA), the governing body that sets the industry standard for the resolution of disputes between consumers and financial service providers, and regularly undertakes audits.
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.
| IC Markets | Dukascopy | |
|---|---|---|
| Overall Pros | World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | providing clients with up-to-the-minute quotes |
| Advanced ECN trading | permission to use algorithmic bots to automate trading; | |
| Order execution speed 40 mc | clients’ funds are secure up to CHF 100,000 | |
| Free VPS | ||
| Trading servers in New York and London | ||
| Strong regulation | ||
| 2000+ trading assets, 60+ currency pairs | ||
| EURUSD Average spread 01 pip | ||
| Overall Cons | No forex bonuses | the registration and verification processes are complicated and time-consuming |
| World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | trading terminals periodically hang up and fail to work | |
| the trading commission per 1 lot is high |
IC Markets vs Dukascopy: Safety and Regulation
| Regulated By: | IC Markets | Dukascopy |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
AFCA (Australia) |
No |
Other Regulators |
Yes |
FINMA (Switzerland) |
IC Markets vs Dukascopy: Trading Conditions
| Trading Conditions | IC Markets | Dukascopy |
|---|---|---|
Minimum Deposit |
$200 |
$100 |
Trading Platforms |
MT4, MT5, cTrader |
JForex Trader, MetaTrader 4, SWFX |
Max Leverage (Futures) |
1-500 |
1-200 |
Supported Markets |
Forex, futures, CFDs on indices, commodities, metals, stocks and bonds |
Forex, indices, cryptocurrencies, stocks, metals, binary options |
Trading assets |
2000+ |
20000+ |
Trading Accounts |
cTrader, Raw Spread, Standard |
Demo FX, Live FX |
Base Account Currencies |
USD, AUD, GBP, CHF, JPY, NZD, SGD, CAD, HKD, BTC |
USD, CHF, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, CNH, SEK, SGD, TRY, XAU and ZAR |
IC Markets vs Dukascopy: Fees
Forex Trading Fees
| Fee | IC Markets | Dukascopy |
|---|---|---|
Standard Account EURUSD Average Spread |
0.62 pips |
2.25 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$3 per lot |
$1.4-3.5 per lot |
ECN Account EUR Average Spread |
0.02 pip |
0.1 pips |
CFD Trading Fees
| Fee | IC Markets | Dukascopy |
|---|---|---|
CFD Trading Fee |
Floating spread |
$0.5-$3.5 per lot |
Non-Trading Fees
| Fee | IC Markets | Dukascopy |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
0-2.5% |
Withdrawal Fee |
No |
Bank Transfer $1-50, Bank Cards - 2.5% + $1.5, Neteller and Skrill - 2.5%, Crypto - $30 |
Inactivity Fee |
No |
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.
IC Markets vs Dukascopy: Trading Assets
| Asset Name | IC Markets | Dukascopy |
|---|---|---|
Overall |
2000+ trading assets |
20000+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes (CFD) |
Yes |
Energy |
Yes (CFD) |
Yes |
Indices |
Yes (CFD) |
Yes |
ETFs |
Yes (CFD) |
Yes |
Bonds |
Yes (CFD) |
Yes |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes (CFD) |
No |
Binary Options |
No |
Yes |
IC Markets or Dukascopy: Investment Programs
| Asset Name | IC Markets | Dukascopy |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
Yes |
Managed Accounts |
No |
Yes |
Other |
No |
No |
Trading Platforms: Dukascopy or IC Markets
| IC Markets | Dukascopy | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
Yes |
No |
Appropriate platform |
IC Markets terminal |
SWFX |
Others |
No |
JForex |
|
|
|
IC Markets vs Dukascopy: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | IC Markets | Dukascopy |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
Yes |
IC Markets vs Dukascopy: Research
| Research Type | IC Markets | Dukascopy |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
IC Markets vs Dukascopy: Education
| Education Type | IC Markets | Dukascopy |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
No |
No |
Dukascopy vs IC Markets: Support
| Support Features | IC Markets | Dukascopy |
|---|---|---|
Working Days |
24/5 |
24/6 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Callback |
IC Markets vs Dukascopy: Forex Bonuses and Promo
| Promo | IC Markets | Dukascopy |
|---|---|---|
Forex Bonus |
Not offered |
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 |
% of trading commissions |
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 IC Markets
-
Comment
I decided to use the services of IC Markets not long ago. Now I think that not all negative reviews are justified. This is a good broker and I have already withdrawn profits several times, everything went without problems. IC Markets’ rates differ from those of other brokers. But you can adapt to this problem.
-
Comment
I initially paid $3000 to start with and an account manager demonstrated a growth of $500 in quick time. A specialist then came in and tried to get me to invest $25000 to which I bluntly denied and they tried with $20K, then $10K and even $5K to all of which I refused! They have now kept me hanging and I asked for a refund to which they are asking for more money from me and I don't know what more to do! Also as of yesterday, the site itself is DOWN!! I cannot log in anymore and the email contact i had from there, when i sent the email to check it came back saying that domain does not exist anymore!! I am at loss of words and my hard earned money unfortunately i was able to recover my money back with the help of Olivia teams get in touch with them oliviatrader 44 at gmail com WhatApp +1 (423) 248 - 2140
-
Comment
I was looking for a reliable broker and noticed the long existence and good reputation of ICMarkets. Moreover, my friend, who has been trading for a long time, recommended contacting them. After several years, I have become a more experienced trader and I am satisfied with the work of the broker.
-
Comment
I have been trading with IC Markets for some time now and I can draw some conclusions. The platform works stably, which indicates a serious approach to its work. Spreads are quite optimal, although for cryptocurrencies they are higher than average as compared to those of its competitors. Slippages occur, there is nothing you can do about it. But there are no problems with requotes at all. In general, I think it’s possible to rate IC Markets “good”.
-
Comment
There are many advantages to IC Markets broker. First, of course, is the presence of a license from a reputable regulator. Accounts can be opened for citizens of many countries. Second, the platform works very well. Order execution speed is high, and you can actively trade manually or with the help of an advisor. I am quite satisfied with IC Markets as a broker.
- IC Markets vs FxPro
- Pepperstone vs IC Markets
- Capital.com vs IC Markets
- IC Markets vs AMP Global
- IC Markets vs NinjaTrader
- IC Markets vs Moneta Markets
- IC Markets vs Vantage
- IC Markets vs BlackBull Markets
- IC Markets vs SimpleFX
- IC Markets vs London Capital Group (LCG)
- IC Markets vs FXCC
- IC Markets vs Tradeview
- IC Markets vs Fullerton Markets
- IC Markets vs Trading 212
- IC Markets vs FXORO
- IC Markets vs BDSwiss
- IC Markets vs Amarkets
- IC Markets vs MultiBank
- IC Markets vs City Index
- IC Markets vs Swissquote
- IC Markets vs IG
- IC Markets vs Saxo Bank
- IC Markets vs LiteForex
- IC Markets vs WelTrade
- IC Markets vs FXTM
- IC Markets vs CMC Markets
- IC Markets vs FP Markets
- IC Markets vs OctaFX
- IC Markets vs HotForex
- IC Markets vs TD Ameritrade
- IC Markets vs FBS
- IC Markets vs Pepperstone
- IC Markets vs Fusion Markets
- IC Markets vs XTB
- IC Markets vs Interactive Brokers
- IC Markets vs AvaTrade
- IC Markets vs Forex.com
- IC Markets vs Kot4x
- IC Markets vs HugosWay
- IC Markets vs Libertex
- IC Markets vs XM
- IC Markets vs InstaForex
- FXTM vs IC Markets
- Oanda vs IC Markets
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.