Dukascopy Review 2024: Read this Before You Trade

Overview of Dukascopy

Dukascopy Swiss Forex and CFD Brokerage is a Switzerland-based multi-asset broker that offers trading services in over 100 financial instruments.

The company’s offerings include currency pairs, commodities, stocks, indices, cryptocurrencies, ETFs and bonds. Dukascopy also has a wide range of account types that are suitable for both beginner and experienced traders.

The company is regulated in several jurisdictions, including the Swiss Financial Market Supervisory Authority (FINMA) as well as the UK’s Financial Conduct Authority (FCA). Dukascopy is also one of the few brokers to offer segregated accounts, which are designed to protect client funds from counterparty risk.

Since its launch in 1998, Dukascopy has grown to become one of the most trusted and reliable online brokers in the world. The company has won numerous awards, including being named “Best Forex Broker” at the Forex Expo Awards in 2020.

Trading Platforms

Any expert trader will say, “the best trader is the one who has the platform they are most comfortable with.”

This quote is quite common in the world of trading and it is a reminder to traders that the most important factor when picking a trading platform is comfort and confidence.

Taking into account factors such as fees, customer service, and other features, finding the right platform can make all the difference in achieving trading success. This is why getting a broker with access to the right trading tools for your needs is crucial.

For that reason, Dukascopy comes with Metatrader 4 and JForex 3 trading platforms, both of which offer a wide range of features and tools. These include sophisticated charting capabilities, automated trading strategies, technical indicators, advanced order types and real-time news feeds.

In addition to that, the JForex platform also offers algorithmic trading through its API Bridge feature. This allows users to connect to external algorithmic trading systems such as QuantConnect and TradingView. These platforms provide traders with the tools they need to make informed decisions and trade successfully.

Account Types

Dukascopy keeps things simple. That is why they only have two accounts: FOREX MT4 and JForex 3/ FOREX ECN Account.

FOREX MT4

This account comes with an initial deposit of $100 and is suitable for beginner traders. It also has a leverage of up to 1:200 with fixed and variable spreads at a $1 commission. If you plan to use leverage, be sure to use it responsibly, as it comes with inherent risk.

JForex 3/ FOREX ECN Account

This account comes with an initial deposit of $100 and is aimed at experienced traders who want to take advantage of features such as algorithmic trading. It also offers variable spreads as opposed to the fixed spreads of the FOREX MT4 account.

You also get access to exclusive services, such as hedging, trailing stop, scalping, expert advisors, and a once-click trading experience to supercharge your profits.

PAMMA System

Like most established brokers, Dukascopy offers a PAMM (Percentage Allocation Management Module) system that allows investors to allocate funds to other skilled traders.

A PAMMA system is simply an automated trading system that allows investors to make money without the need for manual trading. The system is easy to use and offers multiple options for managing portfolios.

It also has powerful risk management tools so that investors can make informed decisions about where their money should go. The automated nature of this feature means traders have more time to focus on other aspects of their trading and investments.

Supported Market Instruments

In addition to the Forex market, Dukascopy offers a range of other trading instruments.

These instruments are:

• CFD Trading
• Commodity Trading
• Cryptocurrency Trading
• Index CFD trading
• Stocks CFDs
• Metal CFDs

CFDS are Dukascopy’s bread and butter, offering traders access to a range of markets in one place. This makes it easy to diversify your portfolio and spread risk across different asset classes.

Security & Regulation

As mentioned earlier, Dukascopy complies with the highest standards of financial regulation.

The company behind the broker managed to buy a Swiss Financial institution in 2004 thus giving Dukascopy the ability to provide banking services in addition to their online brokerage. Over the years, Dukascopy has been in full compliance with two top-tier jurisdictions in the world and continues to grow its portfolio of financial products.

Customer Support

When it comes to customer support, Dukascopy provides a comprehensive service.The customer support team is available 24/7 and can be contacted via phone, email, or live chat. They are also always on hand to answer any questions or queries traders may have about the trading platform. 24/7 customer support is rare and only a few brokers like 365BinaryOptions and SimpleFx offer it

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