Dukascopy is a SA Bank that operates like a Swiss Forex broker. It is regulated by FINMA (The Swiss Financial Market Supervisory Authority) which is mandated to oversee all Swiss-based financial institutions.
The institution was set up in 2004 and continues to provide traders with open prices, fast executions and offers security for funds.
Dukascopy operates both binary options and Forex trading accounts. The bank handles B2b (business to business) accounts partnering with financial institutions offering services to banks and issuing client referral bonuses.
Today, the bank offers a wide range of banking services. The institution operates as a large brokerage unit that deals mainly in CFDs (Contracts for Difference). The institute owns and runs SWFX (Swiss FX Marketplace) ECN.
To transact its business, Dukascopy has separate divisions based in Switzerland, Riga, Geneva, and Latvia. The latter nation provides services for the Switzerland division and the rest of Europe.
Dukascopy remains popular with traders due to the open policy of disclosing its higher-than-average trading fees and costs. Traders operating through this institution are given a discount program that accords them lower commissions and spreads.
The platform offers users the chance to trade through different currencies and various assets. They can access a timely technical analysis and open links to read tons of market research articles they can use to make thoughtful trades.
Dukascopy offers retailers and institutional clients currency and precious metal trading offers.
All traders are equal on this platform, and they are issued with the same liquidity and quotes services. Traders can indulge in all sorts of trading activities such as; scalping.
Following the Swiss government directive for securing clients funds, Dukascopy offers different trading commissions based on the account sizes and monthly traded volumes. The institutions protect clients deposits by $100,000 for every trading account.
Different Trading Accounts
The trading accounts operated on Dukascopy are set up regarding the amount of monies deposited.
- The Bronze Account: deposits start at a minimum of $100
- The Silver Account: deposits begin at a minimum $5,000
- The Gold Account: deposits start at a minimum of $100,000
- The Platinum Account: deposits start at a minimum of $250,000
A majority of the instruments are traded 24/7 without interruption. The markets open on Sunday, 21:00 GMT in summer months and at 22:00 GMT during winter months.
The markets close on Friday, 21:00 GMT in summer months and 22:00 GMT in winter months.
Notes: Dukascopy operates an Islamic account for traders abiding by Sharia laws.
Users can create accounts on this platform by having their passports scanned and entered into the system. They can also make deposits upwards of $10,000 after creating an account.
Dukascopy offers continuous bonuses and promotions. Their method allows them to alter the bonuses and promotions without notice if they feel the need to insert rules in the jurisdictions they operate.
From the institution’s inception, Dukascopy has offered bonuses ranging from 10% to 100%. Traders are authorized to share their trading experiences with their families and colleagues.
Should they successfully refer someone, the live trader is given 100% ($100) discount on a future trading commission. The commission amount is deposited into the trader’s account every day from whence the trader performs the first trade.
Dukascopy runs monthly promotions targeting traders who end up winning $16,000 worth of quarterly prizes.
The promotions extend to the Signal provider Grand Prix where traders stand to win $11,500 every quarter after proving they are the have the best consistent trading results in the targeted months.
There is a Trader of the Tear promotions that awarders $5,000 to traders who collect the highest monthly profits within six months.
Traders can also participate in the Social Trading Contest; the ones that manage to copy the best Signal Providers trades successfully earn $2,000 monthly.
The Miss Dukascopy competition invites girls from every part of the planet to take part. They are gauged on their intelligence, looks, knowledge where the final contestant walks away with $350,000.
Why Use Dukascopy?
Dukascopy offers users a whole range of features than any other Forex broker offers. The standard features on this platform include; different accounts, educational tools including video tutorials, webinars, podcasts, articles, etc.
The platform offers users a plethora of information including a choice of trading ideas, exclusive interviews with financial bigwigs, market research articles, and a whole lot more.
The website is quite thorough and can be accessed in twelve different languages welcoming a full pool of Forex traders.
The breadth of information offered on this platform encompasses; Dukascopy TV, currency converter, Forex history, company news, and a horde mode which can be seen by a single click.
The platform accords White Label service to financial institutions providing Forex trading services to their clients.
Dukascopy extends a series of educational tools to traders. They can access video tutorials at the click of a button and get schooled on numerous trading aspects including; managing accounts, leverage, and more.
Traders can sign-in into live webinars that are conducted in different languages and can attend seminars that are scheduled to take part in different parts of the world.
Dukascopy TV segment offers 20 different stations that offer traders trading programs such as; Crash Dummy Dollar, Market Glance, Building Blocks and a host more. The TV stations are provided in several languages helping global traders learn the markets.
Customer service is offered six days weekly through email and phone support. Traders can also use the chart support system that is availed to them during regular working hours.
Through the chart support, users use Skype to interact with staff and have their issues resolved. The website also allows traders to make a call back request. A customer support team member will get back to the trader and attend to their query.
The trading platforms run by Dukascopy offer a wide range of offers including:
- Take Profit
- Stop Loss
- Stop Limit
- Trailing Stop
- Trailing Stop
- Take Profit
- Place Bid/Offer
Dukascopy offers a spillage control functionality that make it possible to control maximum price spillage on execution. Traders can trade through two more trading modes;
Hedging mode; the trader through this mode can keep different direction positions for a similar trading instrument and has the option of combining these positions.
Net position mode: all orders of a similar currency are displayed, and they pair in a singular position.
Dukascopy runs and manual and automated trading JForex trading platform.
Traders operating in this space can perform automated/manual trades and use the JAVA programming language to test and design trading strategies that will work in their favor.
Traders that desire using the MT4 platform can use the third party bridge that facilitates the same.
Traders can also access the web trading platform if they wish to go online; they get instant market access and can use both iOs and Android-based smart devices to access the platform as well.
Web Binary Trader
Dukascopy allows users to use the web binary trader platform to trade in binary options. It comes with a host of features that allow trading to be done securely. A simple click opens up to an unlimited number of accounts to traders.
Traders that prefer doing manual traders can gain access to the Java platform. They use it to view all necessary trading info on one screen.
The platform accords users numerous marketing research tools, technical analysis, and access to a live trading support crew.
- Dukascopy comes with a plethora of advantages including:
- The company is run and operates in Switzerland and is fully regulated
- As a legitimately registered financial institution, it has a front-office address registered and is functional
- It functions as a broker for financially competent traders who gain access to a plethora of services and numerous partner programmes
- The platform offers users quality support in multiple ways
- The website is filled with valuable information
The platform mainly targets the high-end spectrum of traders
Traders have to dig deeper to gain information about term-of-trades, commissions, overnights, spreads, etc.
Given the long history of the banking institution, Dukascopy provides traders with a host of features that are not availed by other binary options and Forex traders.
Newer traders that are unfamiliar with the platform will only need to click on the well-displayed features of the website to access all the information they seek. The site is well designed and simplified allowing all kinds of traders to sign-in without a hitch.
Clients can brush up their trading skills through the full range of educational tools provided from trading articles, TV stations, interviews with financial honchos, to the live webinars conducted frequently.
The platform also provides users with different investment accounts so that they can choose the trading platform they desire. Users also gain access to numerous bonuses and promotions that are always on offer.
All info about Dukascopy Bank and trading is availed in twelve different languages making it available to many traders across the planet that are otherwise locked out by the competition.
David is a financial expert who graduated from the University of Fordham (Master in Finance) in 2001. He has 10+ years of experience in private equity and wealth management. With strong expertise in senior-level financial planning, personal financial analysis, and mortgages, David knows his way around personal finance. Before working at CCR he used to be a financial analyst at McKinsey.
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