Author: Robert Sammut
Trading Coach
Robert Sammut

Dukascopy Review

Our Expert Rating
Accounts
9.8
Trades
9.4
Bonuses
9.0
Mobile
9.0
Banking
9.2
Features
9.4
Support
10.0
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Summary

If you want a reliable and trustworthy broker that is licensed and operating within strict regulations and guidelines, then Dukascopy is undoubtedly 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, providing quality service without the thrills that you find offered by so many brokers.

Risk Warning / Ad Disclosure

Risk Warning: The 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 risk 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.

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 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 stringent terms and conditions. There are none of the bells and whistles that you would typically 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.

In this review, you will learn:

  • What trading experience you can expect
  • The Account types, trade types and deposits
  • All the special features they offer to traders
Dukascopy Screenshot Dukascopy Screenshot Dukascopy Screenshot
Risk Warning / Ad Disclosure

Risk Warning: The 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 risk 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

9.8
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 offers a free demo account. Merely 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 agree 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. You should take note 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. 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 smartphone. 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
Arabic
Czech
German
English
Spanish
French
Hungarian
Italian
Slovenian
Polish
Portuguese
Russian
Chinese

Trade Types And Payouts

9.4
Trade Types And Payouts

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

High/Low Options

There are many names for the High/Low options offered by Dukascopy. They are also referred to as up/Down or call/put. Quite 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. High/Low 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. The price 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.

Payouts

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.

As previously mentioned, while binary options trading is available to you, it is only provided on Forex currency pairs. There are no turbo options or long-term options open. Trading is strictly limited to intraday.

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

Bonuses And Promotions

9.0
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 several other incentives to encourage you to open an account. For many brokers to remain competitive, they offer all manner of benefits to draw you to their site.

Dukascopy offers 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 and then you will be paid the bonus.

Mobile Trading

9.0
Mobile Trading

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

If mobile trading is essential to you, then you won’t be disappointed with the mobile offering from this particular broker.

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Deposits And Withdrawals

9.2
Deposits And Withdrawals

Rather than having various levels of deposit for specific accounts, there is just one minimum deposit of $1,000. 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 allowed but are subject to certain conditions. Commissions are not always charged by the broker, but currency exchange fees may be made.

Special Features

9.4
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, deposit them. Dukascopy is different though and lets 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.

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Customer Support

10.0
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 expand the box, enter your name and email address and then click to begin your conversation. 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.

Here are the contact details for Dukascopy:

  • Email - support@dukascopy.com
  • Phone - +41 22 799 4888
  • Address - Dukascopy Bank SA, Route de Pré-Bois 20, ICC, Entrance H, 1215 Geneva 15, Switzerland

Conclusion

9.4
Conclusion

If you want a reliable and trustworthy broker that is licensed and operating within strict regulations and guidelines, then Dukascopy is undoubtedly 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 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 risk 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

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.

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.

What bonus do they offer new traders?

Dukascopy offers a 100% anniversary bonus. This bonus means that they are rewarding loyalty and aiming to look after their customers for a much longer term.

Can I start trading on a free demo account?

The answer to this is a resounding 'yes'. Because 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.

What's the minimum deposit and trade amount?

The minimum deposit required with Dukascopy is $1,000. Traders can enjoy starting with a minimum trade of $1 which is perfect for new traders.

Meet The Author
Robert Sammut
Robert Sammut
Trading Coach
-

Robert has consulted for our website for five years and is a well-established member of the team. While he is passionate about the site, most of Robert’s time is focused on his current position as CEO of a professional coaching company. Learn more.

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