Interactive Brokers vs Dukascopy - Fees Review included
Which broker is better Interactive Brokers or Dukascopy? Our expert assessment conducted according to TU’s own methodology showed that Interactive Brokers is one of the top brokers in the financial market with the TU Overall Score of 7.45 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 | Interactive Brokers | Dukascopy |
|---|---|---|
Overall |
4.9 |
4.4 |
5 |
4.8 |
|
4.9 |
3.5 |
|
5 |
5 |
|
Investment Instruments |
4.2 |
4.0 |
Platforms and Charting Tools |
5 |
5 |
Deposit and Withdrawal |
4.1 |
4.1 |
Research |
4.7 |
4.6 |
Education |
4.5 |
3.9 |
Support |
4.2 |
4.2 |
Bonuses |
3.1 |
4.8 |
|
|
Interactive Brokers vs Dukascopy: Pros and Cons
The biggest international broker
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.
| Interactive Brokers | Dukascopy | |
|---|---|---|
| Overall Pros | Access to 135 markets in 33 countries | providing clients with up-to-the-minute quotes |
| 30.000+ trading instruments | permission to use algorithmic bots to automate trading; | |
| Regulated in the US, UK and 8 other countries | clients’ funds are secure up to CHF 100,000 | |
| Advanced trading platform | ||
| Free stocks for registration | ||
| Low fees | ||
| Low margin rates | ||
| Nasdaq Listed company | ||
| 25 supported account currencies | ||
| Overall Cons | long and complex registration procedure | 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 |
Interactive Brokers vs Dukascopy: Safety and Regulation
| Regulated By: | Interactive Brokers | Dukascopy |
|---|---|---|
US Regulation |
Yes |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
Investment Industry Regulatory Organization of Canada (IIROC), Central Bank of Ireland (CBI, reference number C423427), Central Bank of Hungary (Magyar Nemzeti Bank), Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Cboe Australia, Hong Kong Securities and Futures Commission, and is a member of the SEHK and the HKFE, India SEBI Registration No. INZ000217730, Japan - Kanto Local Finance Bureau (Registration No.187) and is a member of Japan Securities Dealers Association and The Commodity Futures Association of Japan, Monetary Authority of Singapore (Licence No. CMS100917) |
FINMA (Switzerland) |
Interactive Brokers vs Dukascopy: Trading Conditions
| Trading Conditions | Interactive Brokers | Dukascopy |
|---|---|---|
Minimum Deposit |
$0 |
$100 |
Trading Platforms |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
JForex Trader, MetaTrader 4, SWFX |
Max Leverage (Futures) |
1-50 |
1-200 |
Supported Markets |
Stocks, Forex, ETFs, Mutual Funds, Bonds, Stock options, Commodity Futures, Currency futures, Cryptocurrencies, Robo-portfolios, hedge funds |
Forex, indices, cryptocurrencies, stocks, metals, binary options |
Trading assets |
30000+ |
20000+ |
Trading Accounts |
Cash account, margin account |
Demo FX, Live FX |
Base Account Currencies |
USD, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NZD, NOK, PLN, SGD, SEK, CHF, CNH |
USD, CHF, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, CNH, SEK, SGD, TRY, XAU and ZAR |
Interactive Brokers vs Dukascopy: Fees
Forex Trading Fees
| Fee | Interactive Brokers | Dukascopy |
|---|---|---|
Standard Account EURUSD Average Spread |
0.1 pips |
2.25 pips |
Standard Account Fee |
0.08 to 0.20 bps times trade size |
$0 |
ECN/STP Account Fee |
0.08 to 0.20 bps times trade size |
$1.4-3.5 per lot |
ECN Account EUR Average Spread |
0.1 pips |
0.1 pips |
CFD Trading Fees
| Fee | Interactive Brokers | Dukascopy |
|---|---|---|
CFD Trading Fee |
0.05% on all share CFDs |
$0.5-$3.5 per lot |
Non-Trading Fees
| Fee | Interactive Brokers | Dukascopy |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
0-2.5% |
Withdrawal Fee |
$10 per wire transfer, $1 per BACS/GIRO/ACH/EFT/SEPA |
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.
Interactive Brokers vs Dukascopy: Trading Assets
| Asset Name | Interactive Brokers | Dukascopy |
|---|---|---|
Overall |
30000+ |
20000+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes |
Metals |
Yes |
Yes |
Cryptocurrencies |
Yes |
Yes |
Energy |
Yes |
Yes |
Indices |
Yes |
Yes |
ETFs |
Yes |
Yes |
Bonds |
Yes |
Yes |
Mutual funds |
Yes |
No |
Stock options |
Yes |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
Yes |
Interactive Brokers or Dukascopy: Investment Programs
| Asset Name | Interactive Brokers | Dukascopy |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
Yes |
Managed Accounts |
No |
Yes |
Other |
Robo-portfolios, hedge funds, Bonds |
No |
Trading Platforms: Dukascopy or Interactive Brokers
| Interactive Brokers | Dukascopy | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
No |
cTrader |
No |
No |
Appropriate platform |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
SWFX |
Others |
No |
JForex |
|
|
Interactive Brokers vs Dukascopy: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Interactive Brokers | Dukascopy |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
No |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
No |
Yes |
Interactive Brokers vs Dukascopy: Research
| Research Type | Interactive Brokers | Dukascopy |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
Yes |
E-Mail Reports |
Yes |
Yes |
Interactive Brokers vs Dukascopy: Education
| Education Type | Interactive Brokers | Dukascopy |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
No |
No |
Dukascopy vs Interactive Brokers: Support
| Support Features | Interactive Brokers | Dukascopy |
|---|---|---|
Working Days |
24/5 |
24/6 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
Community forum, Software bug reports |
Callback |
Interactive Brokers vs Dukascopy: Forex Bonuses and Promo
| Promo | Interactive Brokers | Dukascopy |
|---|---|---|
Forex Bonus |
No |
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 |
As Referrer you can earn up to USD 1000 of IBKR stock. The Refer a Friend program allows eligible IBKR clients to refer people to IBKR for a flat fee payment. Residents of Japan, Spain and Israel are not eligible to participate in the program. |
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 Interactive Brokers
-
Comment
I am very glad that I found Interactive Brokers, because it is convenient to work with — the service is well made and streamlined, the user account is convenient, and you can trade on different platforms and use robots. There are a lot of tools for traders. In general, their approach to work is serious.
-
Comment
I recently started trading with interactive brokers, but I am already trading on a live account. There is no delay in withdrawing money, the execution is excellent, and they make life easier for traders, as they allow you to trade with different strategies. You can try whatever you want and the choice of platforms is amazing, so there is a space for experiments.
-
Comment
There are no problems with Interactive Brokers. All trading operations are carried out as needed. There is a license and regulators, and that definitely says a lot.
-
Comment
Attempts to successfully invest funds haven’t always brought me the positive results that were promised to me by the brokers with whom I worked. I had to start searching, and those who search always find. I found interactive brokers. As a result, in six months, I doubled the money invested. I hope that I will stay here for a long time.
-
Comment
No worries with Interactive Brokers. I know for sure that the company will not let you down. How many years here and only a positive opinion about Interactive Brokers. Always, on all thematic resources, I advise this company.
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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.
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!