Author: Rob Sammut
Binary Options Guru
Rob Sammut

Dukascopy Review 2019

Dukascopy does NOT accept customers from United States.

We recommend you view our top rated US websites.

Dukascopy Logo
  • US Traders
  • 140+ Assets
  • 1-2 Day Payouts
  • Mobile Friendly
  • Low Deposit
Demo: Licence:
Deposit Methods: Visa MasterCard Neteller Skrill
Risk Warning / Ad Disclosure

Risk Warning: The trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never trade money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Dukascopy Screenshot Dukascopy Screenshot Dukascopy Screenshot
Risk Warning / Ad Disclosure

Risk Warning: The trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never trade money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Our Expert Rating
Overall
4.7
Accounts
4.9
Trades
4.7
Bonuses
4.5
Mobile
4.5
Banking
4.6
Features
4.7
Support
5.0

Introduction

Introduction

Based in Geneva, Switzerland with subsidiaries operating in Europe and Japan, Dukascopy is a multi-award winning Swiss Bank, regulated by the Swiss financial Market Supervisory Authority (FINMA). Trading since 2014, they are both a bank and a securities dealer offering binary options, Forex and CPD trading on their own proprietary platform which has been built for both desktop and mobile trading.

Offering only options trading in Forex currency pairs, it is clear to see from the outset that this broker operates under very strict terms and conditions. There are none of the bells and whistles that you would normally get with a binary options trader, instead they base their offering on quality, from the platform they offer to the customer support and strict regulation.

Deciding whether Dukascopy is the right broker for you on the surface of it may seem fairly straightforward however there is much to consider from the account types and assets available to the mobile offering and bonuses. To make the process simpler, we have provided a thorough and accurate review of this particular broker to assist with your decision.

If you are considering Dukascopy as your broker of choice read on to find out:

  • What sort of options trading experience you can expect from using Dukascopy
  • Account types, trade types and deposit requirements of trading with their platform
  • What special features they offer to new and existing traders and which matter
Risk Warning / Ad Disclosure

Risk Warning: The trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never trade money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Account Types

4.9
Account Types

While many brokers offer a variety of accounts based on the level of deposit made, Dukascopy offer just one version of their live account with the option to open a demo account separately.

Demo Account

Unlike many binary options brokers that only allow you access to their demo platform if you open an account with deposited funds, Dukascopy offer a free demo account. Simply open the account without funds and try out the platform with virtual funds at no risk to your own money.

You don't have to commit to the broker but by opening an account you are agreeing to be contacted by them with details of their offering. In effect, all it costs you is an agreement to be marketed to in the future. As the broker also offers forex and CFD trading, you can also choose to use the demo account for this purpose as well.

Live Account

There aren't several tiers of accounts with different names, all offering a few added benefits in exchange for a larger deposit. There is just one level of account which requires a deposit of $1,000. For this you get the chance to trade with a minimum of $1 on a variety of Forex pairs. It should be noted that this particular broker does not offer anything other than binary options trading on Forex currency pairs.

There are no stocks, indices or additional assets. In order to open an account, you are going to have to follow a strict identification process which is easier for those that already have a Swiss bank account.

If you are going to open a Dukascopy live account then you will need to be prepared to go through a 15-minute video-identification process which can be carried out via an app on your smart phone. You will also need to accept a contract between yourself and the broker. If you already hold a Swiss bank account then you will need a recent utility bill (no older than 3-months), a selfie and a valid identity document.

Supported Languages
English

Trade Types And Payouts

4.7
Trade Types And Payouts

While some brokers offer an infinity of trade types, others prefer to keep it simple and just offer a select few, especially when their platform is aimed at those who want to simplify their binary options trading. Dukascopy offer just the two trade types which are:

High/Low Options

There are many names for the up/down options offered by Dukascopy. They are also referred to as high/low or call/put. Quite simply you predict whether the asset will reach a point higher or lower than the price at the execution of the trade. If you call it higher and it finishes higher then you win. If you call it higher and it finishes lower then you don't. This is one of the most popular options when it comes to binary options trading.

One Touch Options

The touch option requires the asset to 'touch' a certain price predicted before the execution of the trade at least once before the expiry time. This may be a higher or lower price than the entry price of the currency pair but the price has to reach the 'touch' point at least once. For more detail on the exact requirements of touch options with Dukascopy, there is a very detailed explanation on their website.

For information about the payout structure offered by Dukascopy, you can refer to the overview on their website which mentions the fact that they reserve the right to customise the payout ratio. As standard, they offer a 90% base payout. Ordinarily, this may appear high for most brokers but we think it is safe to say that the quality and 'no frills' approach of this broker, make it a genuine and straightforward offering.

Dukascopy offer a straightforward 100% anniversary bonus which is rewarded based on a strict set of criteria. When making an application for your bonus the equity has to remain in your account for a specific period until such time that the bonus is paid to you.

Risk Warning / Ad Disclosure

Risk Warning: The trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never trade money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Bonuses And Promotions

4.5
Bonuses And Promotions

With many binary options broker, there are various bonuses offered for different deposit amounts and different levels of accounts. These can include a welcome bonus, a deposit bonus, a matched deposit or a number of other incentives to encourage you to open an account. In order for many brokers to remain competitive they offer all manner of benefits in order to draw you to their site.

Dukascopy offer a straightforward 100% anniversary bonus which is rewarded based on a strict set of criteria. When making an application for your bonus the equity has to remain in your account for a specific period until such time that the bonus is paid to you.

Mobile Trading

4.5
Mobile Trading

When it comes to mobile trading, it is important that you can trade on the move easily and efficiently. All brokers now have to offer this facility in order to survive. Dukascopy offer both a mobile trading platform which is suitable for mobile browsing and with the download of an app. Apps are suitable for all devices and available for both iOS and Android.

If mobile trading is important to you then you won't be disappointed with the mobile offering from this particular broker.

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Deposits And Withdrawals

4.6
Deposits And Withdrawals

Rather than having various levels of deposit for specific accounts, there is just one minimum deposit of $1,000. In order to begin trading though, in addition to making a deposit, you will have to go through a formal identification process via video. You can make a deposit using various methods.

Wire transfer is the easiest way to fund your account with deposits in several currencies accepted. Debit and credit card deposits are accepted but are subject to certain conditions. Commissions are not always charged by the broker but currency exchange fees may be made.

Special Features

4.7
Special Features

Not all brokers offer a demo platform but those that do tend to let you use them upon opening of an account and receipt of your deposit. You don't need to start trading with funds, just deposit them. Dukascopy is different though and let you open a free demo account without a deposit.

The broker also offers a minimum trading amount of $1 which is much lower than the usual $5 stipulated by many other brokers. It means that when you open an account you know that you have a good amount of trades available to you if you stick with $1 trades and gives you the time to get trading on the live platform with low trades.

It is safe to say that with Dukascopy's platform, your money is in very good hands.

Customer Support

5.0
Customer Support

At the footer of the website both on desktop and mobile, you can see clear methods of getting hold of someone. You can call the telephone number which is Geneva based, click to send a message or open up the chat box in the bottom right of the screen.

To start a live chat simply expand the box, enter your name and email address and then click to start your chat. There is also a FAQ section that answers some of the many questions you might have. The website is clear and concise with a lot of details about the trading conditions.

Conclusion

4.7
Conclusion

If you want a reliable and trustworthy broker that is licensed and operating within strict regulations and guidelines then Dukascopy is certainly that. While they are limited in terms of what assets you can trade on, they do offer a very comprehensive service where nothing is hidden or cloaked in mystery.

They are, as you would expect from a Swiss Banking company, offering a quality service without the thrills or bells and whistles that you find offered by so many brokers all fighting for the same place in a crowded market.

Risk Warning / Ad Disclosure

Risk Warning: The trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never trade money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Frequently Asked Questions

Dukascopy FAQ

Is Dukascopy legit, will they scam me?

It is safe to say that with Dukascopy, your money is in safe hands. Regulated by FINMA and a member of the Swiss Bankers Association, they are licensed and registered and operating within the standards you would expect. They have won multiple awards and make all aspects of trading with them very clear and concise on their website which is full of useful information including the criteria for opening an account.

Do they have a decent mobile or tablet app?

As well as a mobile trading site, they also offer an app for both iOS and Android devices. You can choose to either use the website or to download the app. That is entirely down to personal preference. For busy traders that like to be able to trade on the move, this makes the whole experience a much easier and profitable one. Whether you are using a smartphone or a tablet, the app will mean that you can trade wherever you are.

What bonus do they offer new traders?

Unlike many brokers that offer many different types of bonuses simply for signing up and making a deposit, Dukascopy offer a 100% anniversary bonus. This means that they are rewarding loyalty and aiming to look after their customers on a much longer team rather than filling up their books with a quick win that may not stay a customer for very long. This makes them a good longer-term trading choice.

Can I start trading on a free demo account?

The answer to this is a resounding 'yes'. Due to the fact that you can choose to open either a live account or a demo account, you can get to grips with the platform without depositing a penny. The quality and service speak for themselves and Dukascopy obviously have confidence in their offering to trust that customers will enjoy the proprietary platform enough to make a deposit and open a live account next.

What's the minimum deposit and trade amount?

There is only one level of account and minimum deposit required with Dukascopy and that is $1,000. For this everyone gets the same trading benefits. There are no tiers of accounts based on how much you are willing to deposit. There are limits to how much you can deposit on a credit or debit card though. Traders can enjoy starting off with a minimum trade of $1 which is perfect for new traders looking to get to grips with the platform.

Risk Warning / Ad Disclosure

Risk Warning: The trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never trade money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

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