forexbroker.ae logo

Forex Broker AE

Dukascopy Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?

Dukascopy - Swiss bank that offers online forex trading on its own proprietary platform.

Yes, this broker's official website and app are legit, safe and trustworthy for UAE citizens and residents.

Dukascopy has decent reviews on Reddit and Quora, including satisfactory ratings on sites like Trustpilot. Thus, overall this broker is considered reliable for online trading of currencies, cryptocurrencies, CFDs and stocks.

Dukascopy's JForex platform package, which includes our top mobile app, offers forex traders with industry-leading trading tools and market analysis, including our favourite mobile app. Customer support that is unstable, as well as a limited selection of tradeable marketplaces, are among the disadvantages.

The fact that Dukascopy Bank is a regulated bank that is authorised in two tier-1 countries makes it a safe broker (low-risk) for FX and CFDs trading is well known.

The JForex 3 platform package from Dukascopy Bank is incredibly active and alive with features, including a broad variety of charting tools and automated trading capabilities, among others. In terms of mobile applications, Dukascopy's JForex Trader app is our top pick for 2020. Overall, Dukascopy is able to stay up with the main platforms like IG, CMC Markets, and Saxo Bank, among others.

With Best in Class (top 7) finishes in all categories (commissions and fees, platforms and tools, research, mobile trading, cryptocurrency trading, and overall), Dukascopy is a well-rounded broker.

In addition to the Japanese Financial Services Authority (JFSA), Dukascopy is licenced by the Swiss Financial Market Supervisory Authority and the Japanese Financial Services Regulatory Authority (JFSRA) (FINMA).

Dukascopy provides traders with a total of 653 symbols to trade across several markets, including 60 forex pairs and 593 CFDs. These symbols are available to both forex and CFD traders. Besides cryptocurrency trading using CFDs on key crypto assets, Dukascopy also provides cryptocurrency trading with the real underlying (non-CFD) across its own released coins.

On its balance sheet as of June 30, 2019, Dukascopy Bank has assets of more than 148 million Swiss francs (CHF) in value. Additionally, traders who trade via the broker's Swiss business are entitled for insurance protection of up to 100,000 CHF from the regulatory compensation fund esisuisse.

Dukascoin (DUK+): Dukascopy, which already provides CFDs on bitcoin and ethereum, has taken a step further by launching its own cryptocurrency, Dukascoin (DUK+), which is based on the blockchain technology. Please keep in mind that cryptocurrency CFDs are not accessible to retail traders from any broker's UK company, nor are they available to residents of the United Kingdom.

Regarding trading fees, Dukascopy is towards the top of the list of foreign exchange brokerage firms that allow both automated trading and active trading programmes.

The Forex ECN account, which is offered by Dukascopy, has just one account type for FX trading, with the execution technique varying between agency and dealing desk. When trading on an ECN account, the spreads are the same for all customers; however, the additional commission rates you pay will vary based on your trading volume, account balance, and total net deposits.

Using average spreads of 0.30 pips on the EUR/USD for the US trading session during Q3 2019, combined with the default commission rate of 0.70 pips per round turn, the all-in cost equates to 1 pip, which is comparable to other brokers that charge on a commission-based basis, such as Saxo Bank. Spread data:

Swiss vs EU entity: Traders may create an ECN account with Dukascopy Europe or Dukascopy Bank in Switzerland, depending on their preference. The most significant distinction between these two businesses, apart from regulatory jurisdictions and associated investor compensation restrictions, is that the minimum at the EU entity is far smaller, at just $100. At the same time, the Swiss organisation needs $5,000 – unless you are a Swiss resident, in which case the required amount is reduced to $1,000 – to be established.

Tweets by DukascopyBankSA On the whole, it is apparent that Dukascopy is knowledgeable about trading technology and gives traders with the tools they need to be successful. JForex 3, Dukascopy's flagship platform, is a desktop and web-based platform that is compatible with both Windows and Mac computers. While some forex traders may prefer the MetaTrader 4 platform over a bespoke platform developed in-house, JForex 3 is a stand-alone platform that has been named Best in Class for the year 2020.

JForex 3 desktop is a powerful trading platform that is simple to use. In addition, it is a terrific tool for technical traders, since it has 24 drawing tools, 291 technical indicators (67 for the online version), and the possibility to import customised indicators. Leaving aside the positive aspects, it's important to note that zooming in and out of charts on the desktop platform was less smooth than on the other platforms examined.

Automated trading: JForex 3 is a strong competitor to MetaTrader since it allows for automated trading and the use of customised indicators. Furthermore, customers have access to cloud storage and virtual private network (VPN) services, allowing them to operate their trading systems around the clock. Dukascopy also offers an app store, which has hundreds of applications that traders may utilise in conjunction with the JForex 3 platform.

Advanced features: In addition to the close all option, which is typical in the market, Dukascopy goes a step further than other brokers by including a 'cancel all' button on their trading platform as well. This function is helpful for swiftly cancelling all orders, and it is something you would generally see employed by high-frequency traders since it is only accessible via the API interface.

For forex research, Dukascopy provides a good experience for traders owing to a comprehensive selection of research tools available in its JForex3 platform, which is available on desktop, online, and mobile devices.

Dukascopy's research tools include live market news from Reuters and MarketPulse, a live economic calendar with consensus projections, market sentiment indicators, technical pattern analysis, and automated trading systems that are integrated into the charting environment.

For more information, see Dukascopy TV's website. Dukascopy TV is a professional television studio located in Geneva that distributes news from in-house reporters that perform interviews and market research. It is not only timely and intelligent, but it is also professionally crafted and instructive, making it valuable to all customers, regardless of their level of expertise or experience.

Generally speaking, Dukascopy's JForex Trader mobile trading application is the finest in the business, bringing Dukascopy back to the top of the podium for mobile trading in 2020. The app's premium features instantly stuck out to me when I tested it on my Samsung Galaxy S8+ Edge, including integrated market signals and patterns, as well as a pivot point tool.

Charting: JForex Trader offers a powerful charting system that includes various customisable settings and alerts that can be simply added from the same screen as the trading platform. The charting interface was easy to use and provided a plethora of choices, including a list of 46 technical indicators - which is more than the industry average for mobile trading.

A number of advanced features, such as level-two quotations and numerous associated order types, such as conditional and bid-offer orders, are accessible when making a transaction, which are additional strong points in the programme. Tactics may also be picked from a repository inside the mobile app, which contains strategies that have been generated by members of the Dukascopy community.

Researchers will find an excellent choice of study tools in the JForex Trader mobile app. These include many pre-defined screens and a clean, configurable view of marker movers, which is adjustable over four distinct time periods ranging from hourly to monthly. A pattern-recognition tool for trading ideas is also available, and it is conveniently located next to the other study categories.

Dukascopy Bank is a fantastic option for highly experienced traders, since the broker provides a wide range of tools, research, and reasonable rates for those that trade on a consistent basis. Among the disadvantages are a lack of customer assistance and a limited number of trading marketplaces accessible for use. The fact is that in 2020, Dukascopy is the best-in-class broker in six categories: commissions & fees; platform & tools; mobile; cryptocurrency trading; overall.

Interbank forex trading for active traders, hedge funds, banks, and other financial institutions and professions Access to the SWFX - Swiss Foreign Exchange Market. The EUR/USD exchange rate has an average spread of 0.2 pips. One hundred million dollars with a single click.

Dukascopy Swiss Forex Group maintains its position as the global industry-standard for interbank forex trading by combining access to the Swiss Foreign Exchange Market with an enhanced trading platform and strong Forex Brokerage services provided through its banking partnerships with leading financial institutions.

In Switzerland, Dukascopy Bank is governed by the Swiss Financial Market Supervisory Authority (FINMA) (FINMA). The Financial and Capital Markets Commission regulates Dukascopy Europe, which is the company's European subsidiary (FCMC).

Dukascopy has been in business since 1998 and has a solid reputation. Dukascopy has offices in Hong Kong, Japan, Latvia, Malaysia, the Russian Federation, Switzerland, Ukraine, and the United Arab Emirates, in addition to its headquarters in Hong Kong. They are typically well-suited for Dukascopy to give their Forex/CFD trading services to customers all over the world, in general.

This broker is also regulated by the DFSA (Dubai) F004307, the FCMC (Latvia) May 2011, the FINMA June 15 2010, the FSA (Japan) 2408, and the European Securities and Markets Authority (ESMA).

Additionally, this broker provides Forex MT4 and Forex ECN Accounts in addition to its forex demo account. In order to handle your trading account properly, you must also take into consideration leverage and the minimum deposit. When it comes to leverage in general, Dukascopy offers up to a 1:200 leverage ratio at its most extreme. In the meanwhile, you may create a bank account with a $100 initial deposit to get started.

Aside from a large number of currency pairs, Dukascopy also provides a variety of products for you to trade on, including forex, gold and silver, and cryptocurrencies, to give you the finest possible option. Keep in mind that the trading conditions for various instruments will vary from one another. In this situation, you must make certain that your technique is well-suited to the instrument you have chosen for trading.

Bitcoin is a dependable payment option because of its cheap cost and short processing time. Recently, brokers have begun to accept Bitcoin as a form of payment, particularly in light of the cryptocurrency's growing popularity among investors. Traders who use digital wallets may now move money more simply between their trading accounts and their digital wallets.

Wire transfer is the most widely utilised mode of payment in the world. Almost all brokers throughout the globe provide this strategy as part of their service offerings. The reason for this is that wire transfer is essentially a standard transfer between banks all over the globe. As a result, the safety of this procedure is ensured. This is very beneficial for traders who choose not to accept third-party payments or who do not accept credit cards.

Skrill is a payment service provider that is available to almost all forex brokers in most cases. The primary reasons for traders to choose this approach are the speed, simplicity, and security of the transactions. Traders may fund their trading accounts with Skrill using a variety of methods, including credit cards, bank wire transfers, and funds straight from their Skrill e-wallet accounts.

Neteller, like PayPal, is one of the most widely used online payment systems available today. Because of its widespread use, practically all forex brokers now allow Neteller as a payment mechanism for both money deposits and withdrawals from their customers' accounts. Despite the fact that the Neteller system is accessible practically everywhere in the globe, it continues to be very popular in Europe.

Additionally, Dukascopy accepts payments in the form of Tether (USDT), Ethereum, and credit/debit cards.

A trading platform is a technology that allows you to purchase or sell an instrument with a few clicks on your smartphone, from any location and at any time. The chart is also frequently equipped with additional analytical tools that allow you to better understand the price movement and, as a result, boost your profitability by making well-thought-out transactions.

Dukascopy Bank, established in Geneva, provides trading opportunities in a variety of markets, including forex, metals, binary options, CFDs on bonds, commodities, indices, stocks, ETFs, and cryptocurrencies, all via the same trading platforms. Because of Dukascopy's work on developing the Swiss FX Marketplace, the company was granted a Swiss banking licence in 2010 and created the Dukascopy Bank.

They make an effort to offer trading services that are founded on the following fundamental principles: equal trading rights and a clear price structure. A licence from the Swiss Financial Market Supervisory Authority (FINMA) as well as a licence from the Financial and Capital Market Commission of Latvia allow Dukascopy to operate in Switzerland and the European Union (FCMC).

This electronic communication network (ECN) marketplace represents the most sophisticated generation of liquidity aggregators available in the industry. Dukascopy has developed proprietary technology that allows it to hedge any client's transactions in real time with other liquidity providers. The firm is presently linked to a number of liquidity providers, including Bank of America, Commerzbank, Nomura, Barclays, Currenex, Deutsche Bank, JP Morgan, and others.

All deals are often completed in milliseconds or less. Due to the fact that Dukascopy has the deepest source of liquidity in the business, spreads are kept as narrow as possible.

Opening a trading account with Dukascopy would get you access to the company's unique trading platform, JForex, which can be used from both a desktop and a mobile device. Traders may take use of a variety of tools available in the desktop environment, including hundreds of indicators, complex charting, historical testing, real-time news, and integrated customer assistance.

Customization, on the other hand, is limited due to the absence of pop-out charts, as well as built-in complicated desktops and watchlists. When using the web-based version of the Java-based programme, security warnings are shown in Chrome and other browsers, but JForex mobile versions provide seamless synchronisation across platforms.

Not only does trading in Dukascopy provide access to the JForex platform, but it also provides access to the MetaTrader 4 platform, which is highly regarded by many traders throughout the globe. Main features include experienced consultants and customised templates, among other things.

Furthermore, Dukascopy offers two other kinds of accounts, including the Mobile Current Account (MCA) and the Standard Current Account (SCA) (SCA). Traders who want to use their accounts for private purposes may select between the two account kinds. SCA, on the other hand, is more suited for corporate applications. The smallest order size that may be accepted is 1,000 units of the principal currency.

Commissions may be charged to customers based on the Dukascopy services that they use. A decreasing tier system is used to determine commissions and spreads. Clients are divided into tiers based on their monthly trading volume and net deposit.

Dukascopy has received a number of honours, including Best Forex Trading Apps 2019, Best Platform & Tools 2018, and Best Mobile Trading, among others. In addition, the firm has been recognised as the Best Forex Bank 2018 by the China (Shenzhen) Forex Expo, the Best Forex ECN/STP Broker 2018 by the London Forex Show, and the Best Provider of Liquidity 2017 by the International Association of Financial Technology (IAFT).

Traders will be able to fund their accounts using a variety of methods, including credit and debit cards, wire transfers, and bank transfers. Each customer is insured up to CHF100,000 against the bankruptcy risk posed by Dukascopy Bank, subject to certain conditions. Withdrawals from Dukascopy, on the other hand, will incur a $20 fee in addition to any bank or credit card fees that may be incurred.

Clients of Dukascopy have the option to earn additional profits via incentive programmes, which include the Equity Bonus, Discount Program, Experience Sharing, and Anniversary Bonus, among other things.

The minimum deposit amount for a Dukascopy Europe account is $100, but the minimum deposit size for a Dukascopy Bank SA account is $1,000. Deposits are accepted in a total of 23 different currencies. Depending on the client's profile and the kind of account, a variety of extra functions are made accessible to them.

In addition to its website, Dukascopy Bank also offers a variety of free financial information and other appealing resources via its Dukascopy TV online television channel, Freeserv products, and its active online Dukascopy community, which has more than 130,000 members in total. Product sections and trading platforms refer to a limited number of "how-to" articles and videos regarding forex, CFDs, indices, and cryptocurrency trading venues, according to an assessment of their customers' experiences.

Members of Dukascopy can communicate freely in a variety of languages about their trading experiences, market views, and trading strategies, and they can win prizes in a variety of contests. They can also communicate through advanced and secure chat and video conference systems that Dukascopy has developed.

The firm maintains a support crew that is available 24 hours a day, seven days a week by phone and live chat. Traders may also raise inquiries to the firm through email. A vibrant social media presence is maintained along with a dedicated help forum for JForex and automated trading.

Overall, Dukascopy is best suited for traders with extensive expertise and a big number of transactions. Higher than average trading fees might put a strain on novice and retail accounts, which may be forced to search elsewhere for opportunities to improve their skill levels as a result of a lack of instructional materials.

Is Dukascopy a reputable stock broker? When it comes to numerous factors, including trading instruments, deposits and withdrawals, as well as customer assistance, a reputable broker is an excellent service for traders. Something that is beneficial to one trader may not necessarily be beneficial to another trader. As a result, the meaning of the phrase "a good broker" might vary. The parameters listed above might assist in determining whether the Dukascopy brokerage is a suitable fit for your needs or not. Overall, Dukascopy offers trading services in the following markets: forex, gold and silver, cryptocurrencies, and CFDs. In terms of payment methods, you have a choice of Bitcoin, credit/debit cards, Ethereum, Neteller, Skrill, Tether (USDT), and wire transfer, amongst other options. Customer service is offered via a variety of channels, including callback, email, forum, live chat, phone, and web form.

When it comes to Dukascopy, what is the bare minimum? The minimum first investment in Dukascopy is $100.

Is Dukascopy a regulated company? Dukascopy is regulated by the DFSA (Dubai) F004307, the FCMC (Latvia) May 2011, the FINMA June 15 2010, the FSA (Japan) 2408, and the European Securities and Markets Authority (ESMA). It is more responsible to trade in an atmosphere where the broker is regulated. You may also anticipate more assurances about the security of your cash since various regulatory frameworks in the financial sector demand the establishment of a compensation mechanism in the event of a catastrophic event that results in financial losses for customers.

Is Dukascopy a legitimate company? Dukascopy is a brokerage firm that has been in business since 1998, with offices in Hong Kong, Japan, Latvia, Malaysia, the Russian Federation, Switzerland, Ukraine, and the United Arab Emirates. Dukascopy has offices in Hong Kong, Japan, Latvia, Malaysia, and the Russian Federation.

Along with the expansion of the Forex sector comes an increase in the number of both licenced and uncontrolled organisations. Everyone is aware that making money in the foreign exchange market is an excellent method to earn money quickly and easily. Therefore, there are a great number of hazards and manipulations to consider. It follows that there is no assurance that the currency trading sector is secure in the first place. Many businesses, on the other hand, are attempting to do their best by providing simple trade and a nice experience. These are often government-regulated businesses that must meet a set of criteria in order to operate. The possibility exists that these businesses are attempting to influence their clients on the flip side of the coin. Because of all of these considerations, it is essential to be aware of market dangers, carefully choose your broker, and understand how much money you should invest in the market.

According to the information gathered from their website, this is a subsidiary of Dukascopy Bank SA (Dukascopy Bank). This project began in Geneva, Switzerland, in 1998 and is still ongoing. A branch of Dukascopy Europe IBS AS, a European investment brokerage firm based in Riga, Latvia, is licenced by the European Union as an investment brokerage company. While dealing with a Swiss bank, Dukascopy is subject to additional regulation by the Swiss Financial Market Supervisory Authority, which regulates both the bank and the securities dealer sectors of the financial market. As many people are well aware, the Swiss financial system is often regarded as the most stable and secure in the world. There are other branches in Japan, including Dukascopy Japan, which is a Type-1 registered broker based in Tokyo, and Riga, Latvia-based SIA Dukascopy Payments, which is a European recognised payment and e-money corporation based in Riga. Andre and Veronika Duka founded this company in Geneva in November 2004 as a result of their marriage. It is crucial to note that Dukascopy Bank has offices in Zόrich, Riga, Kiev, Moscow, Kuala Lumpur, and Hong Kong, and that the Dukascopy Group employs more than 300 people worldwide, including more than 300 in Hong Kong. Its primary business is the provision of online and mobile trading services via the SWFX – Swiss FX Marketplace, which provides online and mobile trading alternatives for forex, precious metals, and contract for difference (CFD) contracts. A total of 20 major banks are connected via the SWFX, which immediately executes orders on a Straight Through Processing basis. Most essential, participants on both the purchasing and selling sides of the transaction engage on an equal level.

JForex is the name of the Dukascopy central trading platform, and it provides a variety of risk management measures as well as simple control over order execution. With the use of a safe "one-click" option, clients may exchange millions of dollars in a single transaction. Traders who want to trade manually or automatically might consider this platform. There is also a newer version of JForex, known as JForex3, which makes minor changes to the existing platform and improves it slightly.

All trading platforms offered by Dukascopy Bank provide access to the Swiss Forex Marketplace (SWFX). They are intended to respond and react quickly in response to a variety of events that may arise on the market. In addition to other qualities, they have a highly structured perspective that enables them to monitor the market, current exposure, management of their orders and positions, and other characteristics with ease. As well as the online platform, there are other mobile platforms that enable quick market access; the latter is accessible for both Apple iOS and Android devices.

Customers' account kinds are determined by the amount of money they put into their accounts at the outset. Examples include accounts beginning at USD $100, accounts exceeding $5,000, accounts over $100,000 and accounts over $250,000. It is crucial to note, however, that Dukascopy Bank SA only accepts accounts with a balance of less than 5,000 USD for Swiss citizens, and that ECN accounts with a minimum deposit of 100 USD are only accessible to customers of Dukascopy Europe, not other financial institutions.

Customers can take advantage of the company's anniversary bonus, equity bonus, discount programme, and the option to invite a friend, among other incentives and perks available to them. Rewards are only given out if you actively request them, and they will only be applied if the required turnover has been satisfied. The customer may, however, withdraw money at any time, but doing so will result in the forfeiture of the bonus.

There are three different payment options available to Dukascopy Bank clients for their trading accounts. The use of debit and credit cards for financing is a welcomed alternative. The sorts of cards accepted by Dukascopy Bank SA, on the other hand, are subject to change at any moment. As a result, you should be aware of the risk of this occurring at any moment. For the protection of our customers, the maximum amount that may be accepted using this payment option is CHF 10,000, or the equivalent in USD, EUR, GBP, AUD, CAD, JPY, PLN, SEK, NOK, DKK, and RUB in the following currencies: USD, EUR, GBP, AUD, CAD, JPY, PLN, SEK, NOK, DKK, and RUB. You may also fund your accounts through wire transfers and bank guarantees, in addition to the methods listed above. Important to note is that all clients are welcome to establish accounts in any of the following currencies: USD, CHF, EUR, GBP, JPY, AUD, CAD, DKK, HKD, MXN, NZD, PLN, RUB, SEK, SGD, TRY, and ZAR. To make deposits and withdrawals, the card holder's name must match the name on the account with Dukascopy Bank SA. Transfers from third parties will not be approved, and transfers from third parties will not be accepted. This bank does not charge fees for account funding by credit or debit cards; however, the partner banks levy a commission fee of 2 percent on the transaction amount for transactions in EUR, USD, GBP, or CHF, and 2.5 percent for transactions in AUD, CAD, JPY, SEK, NOK, DKK, RUB, or PLN. A reminder that the bank may provide a guarantee for several accounts held under the same name, and that it will provide a guarantee for deposits beginning at $100,000 USD.

Dukascopy provides customer service 24 hours a day, five days a week by email, phone, live chat, and video call. Although their main website, which is accessible in 13 languages, has all of the relevant information, you may also find it on their subdomains.

Dukascopy Bank is a financial organisation based in Switzerland that was established in 2004. European and Asian customers of Dukascopy may take use of the company's banking, online brokerage, and trading services. They are primarily concerned with providing Contracts for Difference (CFDs), Forex, binary options, and cryptocurrencies to their rapidly expanding customer base.

This trading platform is regarded secure since it works as a bank and is regulated by the Swiss Financial Market Supervisory Authority (FINMA), in addition to holding licences to operate as a brokerage company in Japan and across Europe. It is headquartered in Switzerland.

Dukascopy is a Swiss bank and well-regarded online broker that is licenced by two top-tier regulatory authorities. CFD and Forex trading may be conducted with confidence as a result of this.

A good selection of financial items is available from them. It should be sufficient for the majority of dealers.

The powerful trading platform provided by Dukascopy is one of the company's primary attractions. This comprises the JForex 3 platform as well as the Universal JForex platform, among others. This platform was created primarily for PC use, and it offers a more enjoyable trading experience overall.

This broker also supports Meta Trader 4, and its proprietary platforms, which include algo trading, are capable of supporting automated trading techniques.

Given the enormous variety of trading platforms accessible, Dukascopy is not the only online brokerage business to consider when looking for an online brokerage firm. f Identifying the finest online broker that meets your requirements might take some time if you are looking through a large number of options. This evaluation should provide you with a thorough understanding of Dukascopy, including how it operates and the services it provides.

Throughout this analysis, we will give you with important insights into the operation of the Dukascopy trading platform. We will go through their fees, minimum deposits, financial instruments that are offered, as well as a slew of other intriguing and important information. After that, you'll be able to make an educated choice on who you want to deal with.

JForex is the name of Dukascopy's proprietary trading platform, which is intended for both manual and automatic trading, also known as algorithmic trading.

There are 250 technical indicators and research available on the portal. A variety of tools, such as an economic calendar and a news feed, as well as an automated trading capability and a multi-language interface, are included. Even though traders may make their trades manually, the coding for the automated trading capability can be completed using the Java programming language.

The JForex Web 3 platform is a web-based trading platform that uses cloud computing to operate. It includes 46 different indicators, an auto-trading strategy feature, live market news, calendars, and other cool add-ons, all while requiring only a minimal set of technical specifications from the user.

Based in London, Dukascopy is a worldwide online financial trading platform and multi-asset broker that was established in 1998.

Over the course of 24 years, Dukascopy has evolved to provide individual investors with Social Trading as well as Binary Options trading.

Dukascopy is a global broker with offices all over the world. With its headquarters in Switzerland, Dukascopy has a global presence.

When it comes to trading in the financial markets, finding a broker that fulfils your requirements may be a time-consuming process.

The purpose of this Dukascopy assessment is to examine the platform's ability to perform in its position as an international multiple financial asset trading platform for traders in 2022, and to provide recommendations for improvements.

It is common to have to visit and read many broker websites, each of which has a distinct linguistic style. The phrasing might be quite difficult to understand. Choosing an online broker such as Dukascopy can be a challenging task. Starting out in the financial markets can be difficult for newcomers, who may encounter obstacles such as a confusing mobile or online trading platform, difficult to comprehend investment terminology, and perplexing fee structures. In our Dukascopy review, we discuss the advantages and disadvantages of the product. What Dukascopy is able to provide, and which countries Dukascopy is currently accessible in are all listed here. Who Dukascopy is regulated by, as well as other information.

Dukascopy is a multi-asset trading platform that offers over 100 tradable assets. Dukascopy offers a variety of assets, including Social Trading and Binary Options.

Dukascopy engages in the trading of a wide range of financial assets. In finance, a financial asset is any security or asset that has a monetary value associated to it, regardless of whether it is physical or intangible. As a result, Social Trading and Binary Options are regarded as financial assets under the law.

In the past, I've expressed dissatisfaction with binary brokers that all seem to be the same, use the same old slogans like "We Are The Leaders Of The Industry," and then fail to display even the smallest amount of professionalism. When it comes to Dukascopy, all of this comes to a halt since we are dealing with one of the industry's behemoths – and I am not just speaking to the binary options market, but to the trading industry in general - in this instance.

As a large organisation with various sections and sometimes intricate processes, this one deserves to be mentioned. I've had to spend a significant amount of time understanding all of the structure and obtaining all of the information, which means they're lacking in terms of user-friendliness, but don't worry, this isn't a deal-breaker.

Currently, I'm here in front of my laptop, pondering how I should respond to this issue in a professional way. "LOL, are you kidding me?" is one of the first responses that comes to mind. as well as "What? "How can you possibly believe that Dukascopy is a scam?" However, those are not very professional, so I will make an effort to improve. This is a broker with roots dating back to 1998 (later in 1999, they launched Dukascopy Trading Platform and in 2004, the Swiss Brokerage House) and is owned by a Swiss bank with all of the necessary credentials, so I believe it is safe to say that Dukascopy is not a scam. In the absence of trust in an institution with decades of trading experience, who can we put our faith in?

It has been a market leader in the online trading sector for many years, providing FX, CFD and Binary Options trading on a variety of trading platforms. The bank that owns the company is Dukascopy Bank SA, and it is extremely essential to understand that we are dealing with a Swiss bank that is regulated by the Financial Markets Authority (FINMA) (Swiss Financial Market Supervisory Authority). Considering that Switzerland has one of the most reliable banking systems in the world, trading with Dukascopy should be far safer than dealing with any CySEC authorised brokerage.

Dukascopy Bank SA is a financial institution with branches in Europe and Japan. With its headquarters in Riga, Latvia, Dukascopy Europe IBS AS is an EU-licensed investment brokerage company (100 percent owned by Dukascopy Bank SA). It is regulated by the Financial and Capital Market Commission of Latvia, and it is part of the Dukascopy Group (FCMC). EEA Authorization is also granted by the British Financial Conduct Authority (FCA) under the reference number 575672 to Dukascopy Europe IBS AS.

A Type-1 licenced broker with headquarters in Tokyo and oversight by the Financial Services Agency of Japan, Dukascopy Japan K.K. is the company's Japanese subsidiary (JFSA).





When it comes to the trading platform, it is immediately apparent that we are dealing with a professional financial organisation, rather than a supplier of slot machine services. The chart, which is large and clearly visible and displays candlesticks, bars, or lines, is the main attraction. Technical indicators may be employed, time periods can be altered, and in general, it provides the opportunity to do appropriate technical analysis on a given asset. Although the platform is more difficult than what most binary options traders are used to, after a little amount of time, it becomes intuitive to navigate and trade on. To allow you to get some practise in, they provide a free demo account – free in the sense that you do not have to deposit anything in order to use it.

So far, everything has been wonderful, but surely there must be a drawback somewhere? The fact that their minimum deposit is 1,000 USD is a major disadvantage, in my opinion, because most traders are unwilling to invest such a large sum of money. However, if I think about all of the stories where a client wants to invest $250 and, under the pressure of the broker, deposits a total of $10,000 only to lose everything because his account was traded into the ground by the account manager... maybe depositing $1,000 with a Swiss bank right from the start is a better idea. Don't despair if you don't have $1000 to deposit because, according to their rules, "the minimum deposit size for an account with Dukascopy Europe is 100 USD, while the minimum deposit size for an account with Dukascopy Bank SA is 1000 USD."

This means that Europeans may establish accounts with as low as $100 (although they will not be able to trade BO owing to ESMA laws; only FX and CFDs will be available); the rest of the globe, on the other hand, must fork up $1000. For those who are familiar with traditional binary options brokerages – the "leaders," the ones with simplistic and limited platforms – it may appear that using Dukascopy is more complicated because their platform is different and has more features. However, this is not necessarily the case. No, it isn't! While it may take you a little longer to adjust, I feel the additional work will be well worth it in the long run.

Dukascopy Bank SA is situated at Route de Pre-Bois 20, ICC, Entrance H, 1215 Geneva 15, Switzerland, and may be reached at +41 (22) 799 48 88 or through email at dukascopybank@dukascopy.com. Dukascopy Europe IBS AS, situated at Lacplesa iela 20a-1, Riga, LV-1011, Latvia, phone +371 (6) 739 90 00. Dukascopy Europe IBS AS is a subsidiary of Dukascopy Corporation. Located in 6F Ginza Square, 2-14-4 Ginza, Chuo-ku, Tokyo 104-0061, Dukascopy Japan K.K. is a Japanese company that produces dukascopy products. Dukascopy now has offices in Moscow, Hong Kong, and other cities across the world.

The adage goes something like this: "The one who doesn't work makes no errors." This is true in certain cases. If your clientele is large, it is inevitable that some complaints would arise, and this is also the case with Dukascopy. There are some internet complaints, but the most of them are directed towards their Forex platform, which, according to some, may be cumbersome and freeze at times. Therefore, binary options traders who have utilised Dukascopy have not had any significant issues.

The Bonus is equal to 100 percent of the deposited money, and although under normal circumstances I would advise against participating, I am not doing so this time around. The reason behind this is as follows: 1). Only if you specifically request it will you be eligible to receive the Bonus. 2). Only after the turnover requirements have been met will the bonus be applied (pending bonus structure). 3). The client has the right to withdraw at any time, but doing so will result in the forfeiture of the Bonus. For better or worse, you are not tethered to the platform, and this bonus is not a money pit for you to sink your money into. But you have one year to complete the needed volume, which is 40 times the value of the incentive. This is a significant challenge, but you will have plenty of time to do it.

Credit/debit cards, wire transfers, Skrill, Neteller, and Bitcoin are all accepted as payment methods, as well as other options. Processing may take up to three business days, which is quicker than other brokers (they are, after all, a bank), but more significantly, it is safer than other methods. Furthermore, there are no minimum withdrawal amounts, so you may withdraw as much or as little as you choose.

Aside from their expertise, charts, technical indicators, and the fact that they are one of the largest brokers in the world, Dukascopy also provides a variety of contests, ranging from trading contests to Miss Dukascopy competitions. I understand the trade competition, but I'm not so sure about the beauty pageant. Different strokes for different folks, as they say. We might also highlight that Dukascopy has established a cryptocurrency called Dukascoin, which is a digital asset. Please refer to the White Paper for further information.

However, I must confess that the whole website is a little difficult to browse, but this is mostly due to the overwhelming quantity of information accessible. Despite the fact that everything is nicely organised, it will take some time to discover what you are searching for. Although the site is more harder to use than a standard binary options platform, it is still manageable for novice traders. The website is accessible in 13 different languages, as well as on mobile devices and with sample accounts. Clients from the United States, Belgium, Israel, and Canada are not welcomed.

Dukascopy only provides 18 currency pairings to trade as binary options, which is a small number, and they might stand to expand their offering in this area (they offer a lot more assets for CFD trading). Expiry times vary from 3 minutes to 12 hours and 56 minutes, which would likely suit traders who like options that expire quickly or in a medium amount of time.

According on the mode of deposit, fees for deposits vary from 1.2 percent to 2.5 percent of the total amount. Withdrawal costs may be as high as 50 USD for wire transfers and 2.5 percent for Skrill transfers, which is a little on the expensive side for certain players. Support is responsive and friendly; you will not be subjected to any pressure to make a deposit, and the information provided is correct. In practise, the effective return ranges from 70 to 90 percent, and clients have the option of choosing a lower payout in exchange for a higher refund, which makes it an excellent tool for risk management.

The minimum deposit for Dukascopy's European branch is 100 USD, but the minimum deposit for the rest of the globe is 1,000 USD. Most major credit and debit cards, wire transfers, e-wallets (such as Skrill and Neteller), and cryptocurrencies are all accepted as payment methods (Bitcoin, Ethereum, etc.). Withdrawals might take up to 3 business days to show in your account, however deposits can appear in your account in as little as 1 day or less. The bonus may go up to 100%, however you can withdraw your winnings at any moment before the 40 times turnover requirement is met (however, this will cancel the bonus).

Beauty pageants, trading competitions, their own cryptocurrency, and Dukascopy TV, which has been registered with the Federal Office of Communications of Swiss State regulator OFCOM, indicating that they are an official Swiss television broadcaster, are all part of the company's marketing strategy.

Learn more about online trading brokers for UAE citizens and residents.

Sites like Dukascopy in the UAE

Here is a list of top online brokers to open an account for trading Forex, Bitcoin, CFDs and Stocks in the UAE. These brokers have above-average reviews on sites like Reddit, Quora and Trustpilot; and are totally legit, safe and trustworthy for UAE citizens and residents.

The brokers listed on this webpage accept clients from within the United Arab Emirates. Most of these companies provide an online trading platform for fiat currencies (such as Pound Sterling, the Euro, the US dollar, Japanese Yen etc.), buying and selling of cryptocurrencies (for example Bitcoin, Ethereum, Tether, XRP etc.), stocks (this includes listings on Abu Dhabi Securities Exchange, Borse Dubai, Dubai Mercantile Exchange, Dubai Financial Market and NASDAQ Dubai), CFDs (Apple, Microsoft, Amazon, Google, Tesla etc.), UAE government and corporate bonds, and short-term to long-term fixed income securities.

 

Reviewed by Arpita Singh

Arpita SinghArpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.

 

 

 

Copyright Forex Broker AE. All rights reserved.