Oanda vs Dukascopy - Fees Review included
Which broker is better Oanda or Dukascopy? Our expert assessment conducted according to TU’s own methodology showed that Oanda is one of the top brokers in the financial market with the TU Overall Score of 5.28 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 | Oanda | Dukascopy |
|---|---|---|
Overall |
4.4 |
4.4 |
5 |
4.8 |
|
4.5 |
3.5 |
|
3.5 |
5 |
|
Investment Instruments |
4.1 |
4.0 |
Platforms and Charting Tools |
4.8 |
5 |
Deposit and Withdrawal |
4.2 |
4.1 |
Research |
4.7 |
4.6 |
Education |
4.5 |
3.9 |
Support |
4.8 |
4.2 |
Bonuses |
4.6 |
4.8 |
|
|
|
Oanda vs Dukascopy: Pros and Cons
Olsen & Associates, also known as OANDA, is a US-registered company set up to offer a plethora of financial services to clients around the world. Its history goes as far back as 1996, and it is now under regulation in four jurisdictions. The broker has licenses from different regulators, of which the United Kingdom Financial Conduct Authority (FCA) is the major one.
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.
| Oanda | Dukascopy | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | providing clients with up-to-the-minute quotes |
| Real-time news and fundamental analysis tools | permission to use algorithmic bots to automate trading; | |
| localized and multilingual phone support | clients’ funds are secure up to CHF 100,000 | |
| User-friendly platform for new forex traders | ||
| Outstanding research tools | ||
| Financial information publicly available | ||
| High educational value through written content and videos | ||
| Orders get executed with no requotes | ||
| Deposit minimum as low as $1 | ||
| Overall Cons | No programs offering bonus | the registration and verification processes are complicated and time-consuming |
| Slow withdrawal of funds | trading terminals periodically hang up and fail to work | |
| the trading commission per 1 lot is high |
Oanda vs Dukascopy: Safety and Regulation
| Regulated By: | Oanda | Dukascopy |
|---|---|---|
US Regulation |
Yes (CFTC, NFA) |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
European Union (regulated by the MFSA), Singapore (regulated by the MAS), Canada (regulated by IIROC), Japan (regulated by FSA) |
FINMA (Switzerland) |
Oanda vs Dukascopy: Trading Conditions
| Trading Conditions | Oanda | Dukascopy |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$100 |
Trading Platforms |
MT4, OANDA, TradingView |
JForex Trader, MetaTrader 4, SWFX |
Max Leverage (Futures) |
1-50 |
1-200 |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Forex, indices, cryptocurrencies, stocks, metals, binary options |
Trading assets |
120+ |
20000+ |
Trading Accounts |
Standard, Core, and Swap-free |
Demo FX, Live FX |
Base Account Currencies |
USD, EUR, HKD, SGD |
USD, CHF, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, CNH, SEK, SGD, TRY, XAU and ZAR |
Oanda vs Dukascopy: Fees
Forex Trading Fees
| Fee | Oanda | Dukascopy |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
2.25 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
not offered |
$1.4-3.5 per lot |
ECN Account EUR Average Spread |
not offered |
0.1 pips |
CFD Trading Fees
| Fee | Oanda | Dukascopy |
|---|---|---|
CFD Trading Fee |
Floating spread |
$0.5-$3.5 per lot |
Non-Trading Fees
| Fee | Oanda | Dukascopy |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
0-2.5% |
Withdrawal Fee |
$20 - just for bank transfer |
Bank Transfer $1-50, Bank Cards - 2.5% + $1.5, Neteller and Skrill - 2.5%, Crypto - $30 |
Inactivity Fee |
After 12 months of inactivity, 10 units of your account’s currency denomination |
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.
Oanda vs Dukascopy: Trading Assets
| Asset Name | Oanda | Dukascopy |
|---|---|---|
Overall |
120+trading assets |
20000+ |
Forex |
Yes |
Yes |
Stocks |
No |
Yes |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes (CFD) |
Yes |
Energy |
Yes (CFD) |
Yes |
Indices |
Yes (CFD) |
Yes |
ETFs |
No |
Yes |
Bonds |
No |
Yes |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
Yes |
Oanda or Dukascopy: Investment Programs
| Asset Name | Oanda | Dukascopy |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
Yes |
Managed Accounts |
No |
Yes |
Other |
No |
No |
Trading Platforms: Dukascopy or Oanda
| Oanda | Dukascopy | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
Oanda |
SWFX |
Others |
No |
JForex |
|
|
|
Oanda vs Dukascopy: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Oanda | Dukascopy |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (not for all markets) |
Yes |
Crypto |
No |
Yes |
Oanda vs Dukascopy: Research
| Research Type | Oanda | Dukascopy |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
Oanda vs Dukascopy: Education
| Education Type | Oanda | Dukascopy |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
Dukascopy vs Oanda: Support
| Support Features | Oanda | Dukascopy |
|---|---|---|
Working Days |
24/5 |
24/6 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Callback |
Oanda vs Dukascopy: Forex Bonuses and Promo
| Promo | Oanda | Dukascopy |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
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 |
Yes |
A discount of 100% of the trading commission for inviting a friend to the company |
Other Promos |
Rebates and commission markdowns |
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 Oanda
-
Comment
I can describe OANDA as one of the most proper brokers on the currency market. It works quickly, there are no failures, and no market movements have a significant impact on it. I'm safe here.
-
Comment
OANDA is a good company and I plan to continue trading with them. I started with a demo account and then switched to a live one with a small deposit. OANDA successfully passed my tests in trading and withdrawals. I easily withdraw profits to my bank card.
-
Comment
I got acquainted with the OANDA broker online. Initially, I read reviews about it and decided to give this platform a try. If you do everything correctly, you can pass the verification process, although it does take some time. Then, the actual trading process began. The conditions at OANDA are average, so I can give this broker a decent rating.
-
Comment
The broker OANDA is licensed by reliable regulators, offers a wide range of financial services, boasts years of experience, multiple regulators, and significant awards. There is a vast selection of popular trading instruments, a very low minimum deposit, and qualified technical support. However, the OANDA website occasionally functions poorly. Overall, I currently have no major complaints about trading with this broker.
-
Comment
OANDA offers tight spreads, is licensed, and has a low entry threshold and fast withdrawals. The overall impression of working with this company is positive. I would recommend this broker. Another advantage is that OANDA's client support is excellent.
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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.