Dukascopy Broker Reviews, Pros & Cons [2024]

Dukascopy Europe is an online broker controlled by Dukascopy Bank SA, a large Swiss bank where the broker’s funds are deposited. Already this relationship between Dukascopy Europe and Dukascopy Bank SA would be enough to say that we are talking about a safe broker, as Swiss banks, by their nature, are as safe as few in the world! This broker is also known for allowing access to the SWFX market, as well as presenting very low spreads that are among the most competitive.

Unlike many other more classical brokers, Dukascopy, as an ECN broker, also allows you to open a professional trading account. This allows you to invest in cross currencies on particularly advantageous terms. For example, the leverage and the maximum margins that can be applied are as high as 1:30, as required by ESMA. The minimum deposit is EUR 100, which is in line with the industry average.

Is Dukascopy Europe safe?

Since I made reference to Switzerland in the previous paragraph, I think it is only fair to make it clear whether the Dukascopy broker is safe! Well, there should be no doubt about this because if, as it should be, the guarantee that only the name “Switzerland” can give you is not enough for you then I invite you to consider that Dukascopy Europe IBS AS (the broker) is regulated by the Bank of Latvia.

Dukascopy is not a scam, but rather allows you to have a protection that few other brokers are able to give you. Since the company behind Dukascopy Europe is a bank, the aforementioned Dukascopy Bank SA, deposits up to 20,000 EUR are guaranteed. You can verify the high standard of security the broker offers by opening a demo account, here.

Dukascopy Europe ECN broker reviews

When we talk about Dukascopy, we refer to a broker of the ECN type. Dukascopy, therefore, is not a classic market mayer but a broker that gives you direct access to the markets. Among other things, the spreads that the ECN broker provides are very advantageous.

This is not by chance but a result of the very nature of Dukascopy: that of being a pure broker. This is why the broker is preferred by professional investors. Even for beginner traders, however, there are many advantages. As you read on, you will also find the opinions of novice traders on Dukascopy.

>>> Open a trading account at Dukascopy (official site) <<<

Available software on Dukascopy

Dukascopy’s success can also be attributed to the very wide range of online software for trading: few brokers can boast as many software as those found on Dukascopy, all connected to the Swiss Forex Marketplace (SWFX). Dukascopy’s software guarantee responsiveness and operability regardless of market conditions.

Besides the famous MetaTrader 4, you can also find Jforex (new version 4) and Jforex for mobile (iOS Platform and Android Platform). If you are used to automatic trading then I recommend JForex, a universal trading tool that is equipped with an interface for executing strategies and providing the relevant programming codes. Of this software, JForex4 has been around for some time now and has superseded the old JForex3 (previous version). JForex4 has a number of valuable additional features such as:

• Highly efficient JCloud integration
• Graph trend replay
• Order management during market breaks
• Double / Reverse positions
• New order types

With JForexWeb you have instant access to the market. On this software all technical requirements have been optimised to meet your needs regardless of trading conditions.

By choosing JForexWeb, you can customise the refresh rate and depth of the market according to your computer’s capabilities. In addition, the platform offers full functionality for managing orders and open positions. If you operate in mobile trading mode, you can also choose the JForex Trader version for Apple iOS devices and the JForex Trader version for Android devices.

Want to try the Dukascopy software and choose the most suitable one for trading? You can do so by opening a demo account for free!

Dukascopy software comparison

All trading software available on Dukascopy have the basic functions. However, the various software also have points of diversity. For this reason, I recommend that you carefully read through the differences between the Dukascopy software shown in the diagram below. Comparing the Dukascopy platforms can help you understand which one is best suited to your needs!

Markets available on Dukascopy

At Dukascopy you can find a wide range of markets available for trading CFDs. All markets are representative although, compared to other traditional brokers, the offer per single category seems to be smaller.

Dukascopy does allow you to trade stocks online via CFDs, but the list of available stocks is smaller than that of other brokers. This limitation is however offset by a strength that only this broker can give you. Unlike the vast majority of brokers, Dukascopy ECN allows you to trade via CFDs on bonds as well.

In total there are 8 underlying asset categories and the possibility to access 1200+ trading instruments.

>>> Open a trading account at Dukascopy (official site) <<<

Accounts available on Dukascopy

Forex & CFD Trading brokers have two types of accounts: real account and demo account. Only a few brokers make more than one real account available. On Dukascopy you will find two types of real accounts: the standard account and the managed account.

The standard Dukascopy account has a minimum initial deposit of just $100 which can be used immediately to open trading positions. If you have decided to invest with real money, I recommend that you prefer the standard Dukascopy account in light of the low minimum deposit that is required to start.

The managed Dukascopy account requires a higher deposit and is suitable for a certain investor profile. It is true that the Dukascopy managed account has a lot of excluded advantages (including the presence of an advisor always available) but these advantages are almost useless for beginners. If one day you become an experienced trader, you may think about the Dukascopy managed account, but if you are a beginner, the standard account is more than fine.

How to open a demo account on Dukascopy

In the previous paragraph we made a brief mention of the demo account. Although nowadays all the best brokers provide free demo mode, it is only fair to devote a few lines to the matter if only for a practical reason!

Dukascopy provides you with so many tools and functions that a period of study time is necessary. After all, in the world of trading, operational errors are always just around the corner. So why lose real money due to an operational mistake (e.g. wrong order entry) when you can have plenty of time to learn how to follow the correct procedures thanks to your demo account?

By the way, Dukascopy is very generous in this respect considering that there is the possibility to have both the JForex4 and MT4 demo!

Dukascopy Training Centre

The fact that Dukascopy is an ECN broker, thus different from classical traders, does not affect the training offer. Today, all brokers provide their clients with a range of tools to deepen their knowledge and skills. The goal is to contribute to the trader’s education and thus give him the opportunity to aim for a higher profit.

The training section at Dukascopy is very thorough. In fact, the broker offers you a whole range of tools to improve your knowledge. Unlike many classic brokers, Dukascopy ECN places its focus on live seminars. The punctual organisation of live events is highly appreciated in Dukascopy’s opinions although a limitation to what is still a good strategy is the fact that the live sessions always take place in Switzerland.

Of course, this does not mean that there are no tools in the Dukascopy training offer that you can also use remotely. By going to the site you can access the tutorial function which is full of all kinds of videos. In addition, the broker also organizes free webinars on technical analysis and trading tools which are broadcast on Dukascopy TV, a video channel entirely dedicated to education.

>>> Open a trading account at Dukascopy (official site) <<<

Dukascopy Customer Support

Every trader’s nightmare is to find himself unable to contact the customer support department of the broker with whom he registered his trading account!

Dukascopy support service is easily accessible through various channels. A physical address, a phone number reachable from Italy and a fax number are available to all clients:

• Dukascopy Europe IBS AS Lacplesa iela 20a-1, Riga, LV-1011, Latvia
• Switchboard: +371 67 399 000
• Live trading Support (24h): +371 67 399 039

You can also contact customer service via email or directly from the website by clicking on the live chat box AVAILABLE 24/7. By simply indicating your name and email address, you will receive on your computer all the answers and clarifications to your questions.