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Dukascopy Review & Rating [yyyy]» Is Dukascopy Reliable or Scam?

Dukascopy Review & Rating 2023» Is Dukascopy Reliable or Scam?

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It is no secret that online forex trading has become one of the most popular ways for people to make money. For beginners, it can be hard to find a reliable broker or platform that will not scam them out of their hard-earned cash. Dukascopy Bank SA was established in 1998 and provides bank and online trading services in different countries. In our Dukascopy review, we will try to provide all you need to know about this company before making your decision today. If you are from Dukascopy and think some information or writer's opinions are not right, you can contact the AtoZ Markets Editorial Team with your valid information.


Trading Platform
Account Types
Customer Support


8 /10

Dukascopy Review: History


A group of physicians led by Dr. Andre Duka started Dukascopy Trading Technologies Corp. in 1998. Their mission was to develop a complex financial system by using mathematical and econophysical techniques.


In 1999, Dukascopy launched its trading platform.


Dukascopy Swiss Brokerage House was established in 2004. The company's purpose was to assist the financial sector with its cutting-edge technology.


Dukascopy announces its ECN, the SWFX Swiss Marketplace for FX.


Dukascopy introduces Dukascopy Forex TV, online television that provides technical and fundamental analyses to financial professionals and traders.


Dukascopy was authorized in 2010 through the Swiss Financial Market Supervisory Authority FINMA to conduct banking operations.

In 2010, they also launched SWFX trader iPhone Application.



In 2011, Dukascopy Europe IBS AS became operational as a 100% controlled subsidiary owned by Dukascopy Bank SA dedicated essentially to the European retail market.


Dukascopy TV opens its new studios in Geneva.

Dukascopy Bank SA opens a representative office in Kyiv, Ukraine.

They introduced SWFX Trader FOR ANDROID.

Dukascopy Bank SA creates a unique and innovative electronic banking solution that is available to customers with Current Accounts.

Dukascopy Bank SA expands its international reach through the opening of a representative of its office located in Hong Kong.

As per the needs of Muslim customers, Dukascopy Bank SA announces the opening of accounts that are swap-free.

Dukascopy Bank becomes a member of the Swiss Bankers Association


In 2013, Dukascopy was licensed through the Swiss Financial Market Supervisory Authority FINMA to carry out securities firm operations.

Dukascopy Bank SA expands its international reach by opening a representative branch in Moscow.


In June 2014, Dukascopy Bank launched its new trading platform that trades binary options.

Dukascopy Bank SA expands its presence by opening offices within Zurich (Switzerland) as well as in Kuala Lumpur (Malaysia).

The month of September was when Dukascopy Bank started to include CFD instruments in their ECN trade environment.


In August of 2015, Dukascopy Bank acquired 100 percent of Alpari Japan K.K., licensed as a Type-1 Japanese broker located in Tokyo that has been renamed Dukascopy Japan K.K.

Dukascopy TV is registered with the Federal Office of Communications from Swiss State regulator OFCOM. Dukascopy TV is since then officially recognized as an official Swiss TV station.


Dukascopy Bank SA launches a new group member - Dukascopy Payments SIA, EU licensed subsidiary that specializes in mobile instant transactions. The services offered by the company are based around the Dukascopy Connect mobile communicator which is a secure messaging system that secures all messages and photos, and allows video calls and voice calls.

Following the issuance of the FINMA circular 2016/7 on Video-identification, Dukascopy Bank is among the first financial institutions to use an in-house developed video-based on-boarding system, fully integrated with its IT infrastructure.


Dukascopy Bank SA extends its long-term leadership in technology for brokerage services by entering the new realm of banking's core business retail banking.



Dukascopy Bank starts offering the Bitcoin to US Dollar (BTC/USD) to self-trading LIVE accounts.

Dukascopy Bank SA launches its new Representative Office in Dubai.

Dukascopy Bank starts offering a unique opportunity to earn a profit through its role as a liquidity service provider for SWFX in an entirely automated mode.

Dukascopy Bank starts offering LIVE trading on MetaTrader 4 and immediate access to SWFX Swiss Marketplace.

A new method for funding your account has been added to the account funding method. Customers are now able to transfer funds into and out of their accounts in crypto-fundable trading through the Bank through cryptocurrency-based transfers. The first cryptocurrency to be accepted is Bitcoin.

In 2018, Switzerland's financial regulator said there are no additional regulatory obstacles for Dukascopy's cryptocurrency ICO project.


Dukascopy Bank has become the first bank that is regulated to start their own ICO. From the 28th of February, everyone can take part in the Airdrop and trade DukasCoin through the marketplace and benefit from its advantages.

Dukascopy Review: Products

  • Forex

In terms of the product offering, there are a number of options available in Dukascopy. This includes forex trading, which is well-known to be popular for many traders and investors - especially due to its liquidity levels being much higher than that found in other markets. The company currently offers over 120 currency pairs with competitive spreads that enable you to have more control over your trades.

They also have automated forex trading and La Pamm account service.

  • CFD

They also offer CFDs on Stocks, Commodities, Bonds, ETFs and Indices such as Eurostoxx50, CAC40 and Dow Jones among others. These allow traders who do not want to use futures or spot forex an opportunity for diversification amongst different sectors without having any market exposure themselves.

  • Banking

Multi-Currency Account (MCA) is designed for retail customers with less than $100'000 in assets and functions as a tool for everyday transactions.

The process of opening a new account is quick and accessible anytime, anywhere using an innovative method that allows online video identification via your mobile.

Private Banking (Savings) accounts are thought of in the same way as "vaults" for the storage and accumulation of wealth by customers from Dukascopy Bank.

The Multi-Currency Account (MCA) is specifically targeted towards retail customers with a net worth of less than $100'000 Clients with a wealth of more than $100'000 may benefit from private Banking (Savings) options. The primary purpose of Savings accounts is saving and accumulation of money. Likewise, the MCA is intended for daily retail transactions.

  • Binaries

Another main product type available at Dukascopy is binary options. This enables traders to make quick and profitable investments in a number of underlying assets including stocks, currencies and commodities. With expiry times that range from just 60 seconds up to 12 hours, there is something for everyone no matter how active or inactive you are. In addition, the company offers a wide range of bonuses and promotions to its clients - ensuring that you always have the best chance at making money!


  • Crypto

Dukascopy Bank SA provides leveraged CFD trading on price fluctuations of cryptocurrency, its derivatives, or estimations of value.

Dukascopy Review: Pros and Cons

  • Pros

√ It provides users with up-to-the-minute quotes.

√ It gives permission to use algorithmic bots for automated trading.

√ Your funds are secure up to CHF 100,000.

√ They have their own trading platform JForex along with MetaTrader 4.

√ Over 500+ trading instruments

  • Cons

— Leverage is very limited, only  up to 1:200 only.

— Payouts takes time

— Registration and KYC is a bit complicated and lengthy.

— No Two Factor Authentication


7 /10

Is Dukascopy a Scam?

Is dukascopy a scam?

No Dukascopy is not a scam. It is a reliable online broker that offers the best range of products that include CFDs, Binary Options, Stocks and Forex. This review shows that the broker is especially effective for automating strategies as well as experienced traders thanks to the discounts for volume.

Every client account of Dukascopy is protected with CHF 100,000 by esisuisse in Switzerland.

Read Our Review of Blueberry Markets

Trading Platform

7 /10

How are Dukascopy Trading Platforms?

Dukascopy trading platforms

image credit: Dukascopy

It's evident that Dukascopy is aware of the latest technology in trading and gives traders with the tools needed to be successful. Dukascopy's most popular platform is JForex. It is a web- and desktop-based platform that is compatible with Windows as well as Mac. It also has iPhone, iPad and Android apps. While some forex traders like the MetaTrader4 platform, that's why they also support MetaTrader4.

JForex Desktop is packed with trading tools, and simple to use. It's also great for technical traders, providing 24 drawing tools and 291 indicators for technical trading as well as the capability for import of custom indicators. While it's great It's important to note that zooming out and in from charts using the desktop version wasn't as smooth as the other platforms we tested.

JForex competes very well with MetaTrader because it has algorithmic trading feature, custom indicators and trading. Furthermore, clients can access VPN and cloud storage for running their trading platforms for 24 hours. Dukascopy also offers an app store, which has hundreds of applications that traders can utilize with their JForex platform suite.

Account Types

7 /10

Dukascopy offers a wide variety of accounts for forex trading.

Forex ECN Accounts - Dukascopy clients  can use the JForex interface to trade FX and CFDs with ECN account. It has equal liquidity for all traders, all types of trading (news, scalping, hedging, etc. ), accounts in 23 currencies, account insurance up to 100,000 CHF, ECN liquidity, and adjustable expenses based on account size and activity are all available with these accounts.

Forex MT4 Accounts - Trading on the MT4 platform is also supported by Dukascopy. The disadvantage is that the available assets, trading conditions (order types), and cost structure are not the same as those of a normal Forex Account. Clients of MT4 can only trade FX pairs with a leverage of 1:100. Clients of MetaTrader 4 can use trailing stops, hedging, and the usage of EAs.

Bank Accounts — For its trading clients, provides a standard (web-based) and mobile e-banking option. There is no charge to open or close an account, but if no trading or foreign currency transactions are done in a six-month period, a maintenance fee may be charged. This is true for trading FX, CFDs, and Binary Options.

Gold Accounts - Clients of Dukascopy Bank have the option of depositing actual gold. The account is free to open, however there is a 1% annual maintenance fee for custodial services from Dukascopy.


7 /10

Dukascopy Bank SA provides leveraged CFD trading on price fluctuations of cryptocurrency, its derivatives, or estimations of value.

In contrast to traditional purchases of cryptocurrency, trading CFDs in cryptocurrency (Crypto) permit speculative operation without requiring an electronic wallet. There is no requirement to keep cryptocurrency coins in your wallet, eliminating the cyber security risks.

Because of the leverage available in trading accounts, the customer can have cryptocurrency CFD positions greater than the quantity of traditional currency initially held.

Similar to CFDs as well as FX instruments, CFDs in cryptocurrency CFD can be either short or long, so that the customer is able to profit from price movements in both directions , up and down.


7 /10

Fees and Commission

  • Account Fees: Account Opening and Closing Fee is zero. Maintenance fee is zero to 0.5%. Gold custody fee is 1% on yearly balance. Blockchain wallet address change fee is 50 CHF.
  • Currency Fee: .05% to 1% depending on the amount of converted currency.
  • Bank Guarantee Fee: 1.5% annually
  • Credit Card Fees: Depends on card type
  • Sending of Account Statement Fee: 150 CHF.
  • Safekeeping Fees: 1%
  • Multi-Currency Account Fees: To know the fees applicable to Multi-Currency Accounts visit the link here
  • DukasCoin Fees: Check this link to access fees applicable to Dukascoin.


  • Deposit Fees: Bank Transfer is Free, Payment By Card is 1.5% - EEA cards, 2.5% - non-EEA cards. Apple Pay and Skrill fee is 2.5%.  Neteller fee is $1 or 2.5%. Bitcoins, Ether, Tether are free.
  • Withdrawals: Bank Transfer fee varies depending on currency. Crypto Transfer fee is EUR 50 or 0.5% or CHF 50 or 0.5% from the amount (whichever is higher). Withdrawal by cards fee is 1.5 EUR + 2.5%. Withdrawal by Apple Pay fee is Nil. Skrill fee is 2.5%. Neteller fee is 1 EUR or 2.5%. In Bitcoins, Ether, Tether withdrawal fee is $30.

Dukascopy Spreads & Leverage

  • Spreads

Dukascopy does fairly well in terms of live spreads and trading charges. Average spreads for most currencies, like USD/USD and EUR/USD are approximately 0.3/0.4 pip.

The default rate for commissions of 0.7 pip will bring the total cost of trading to about one pip, that is comparable to other providers. In addition the broker tiers its commissions and spreads in accordance with the volume of trading.

  • Leverage

The standard leverage, 100:1 is used for retail accounts automatically. However, the use of leverage and the margin requirements are established at the time of account opening with the max leverage of up to 200:1 being available. A calculator for margins is available on the website of the broker.

Customer Support

7 /10

Dukascopy customer support

Dukascopy customer support is very good. They have various options to contact them. You can send them a message from their website. You can chat on their website. You can give a request for a call back. You can also report an issue through their website. They have phone numbers for different physical offices where you can call to get your issues solved.


8 /10

Is Dukascopy Regulated?

Is Dukascopy regulated?

The first regulation that Dukascopy falls under is the Swiss Financial Market Supervisory Authority (FINMA). The FINMA is Switzerland’s financial market regulator and was founded in 1998. They are responsible for regulating banks, securities dealers, collective investment schemes, insurance companies, and other financial intermediaries in Switzerland. This makes them a strong authority when it comes to overseeing brokerages like Dukascopy.

Additionally, Dukascopy is also regulated by the European Union Markets in Financial Instruments Directive (MiFID). MiFID is an EU directive that sets out rules for all member states with regards to the operation of financial markets. It establishes common minimum regulatory requirements for investment providing services within the EU. This includes brokers like Dukascopy.

To make sure they are meeting these minimum requirements of MiFID, Dukascopy also submits itself to the Financial Services Standards Association (VQF). VQF is an independent Swiss association that aims to protect investors by making sure financial service providers meet their legal and ethical obligations. They do this through licensing certain institutions whose services require professional knowledge and experience with investments. This allows them to monitor brokerages like Dukascopy on behalf of FINMA's authority within Switzerland.

In addition, as a regulated entity in both Europe and Switzerland for over 15 years now, Dukascopy has been able to build up a strong reputation across the industry as being well-respected and reliable. So, if you are looking for a broker that is highly regulated and has a long history of good service, Dukascopy may be the right choice for you.


In the end, we can say that Dukascopy is a great option for traders with a lot of experience since the broker provides innovative tools, research, and affordable fees for those who trade regularly. Some drawbacks include a low leverage and late payouts.

It is a Swiss bank that has more than 23 years of business. The bank is regulated by two top institutions located in Switzerland as well as Japan. Dukascopy offers a variety of forex pairs that are spot CFDs and precious metals for traders.Payment security is offered for Swiss accounts that can hold as much as CHF 100 000 in deposit as well as for European clients up to EUR up to EUR 20,000. A minimum of $1,000 is required for opening an account with Dukascopy with the exception of European clients who can create an account for just $100.

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