Dukascopy Review 2021

Dukascopy review
Dukascopy Fees Explained

• Dukascopy doesn't charge withdrawal fees
• Dukascopy does charge a fee for inactive accounts.
• Dukascopy doesn't charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line.

How Dukascopy Fees Compare Against Other Brokers

Dukascopy Minimum Deposit

Dukascopy require a minimum desposit of 5000 GBP/USD when opening an Dukascopy trading account.

A minimum deposit is the minimum amount of money required by Dukascopy to open a new online brokerage account with them.

Dont be scared off by brokers like Dukascopy charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

Dukascopy Withdrawal Fees

Dukascopy doesn't charge withdrawal fees.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your recieving currency, your payment provider.

Dukascopy for example allow you to withdraw your funds to Credit cards, Bank Transfer, Debit cards, .

Dukascopy Inactivity Fees

Dukascopy does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

Dukascopy Desposit Fees

Dukascopy does not charge deposit fees. Although bank / 3rd party merchant fees may apply.

You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

Dukascopy Commission Fees

Dukascopy does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

Dukascopy review
Trading on Dukascopy web platforms and other applications

Dukascopy offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

Dukascopy also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

See Dukascopy's platforms

Is the Dukascopy Trading Platform Secure?

Dukascopy safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. Dukascopy also urges its clients through its web platform to always look for the SSL security sign (a lock sign) o the browser while operating Dukascopy.

Dukascopy Trading Platform Options

Once you have logged into your Dukascopy account you will see the below trading platform options available to you.

• MetaTrader 4 (MT4)

Dukascopy does not offer the MetaTrader 5 (MT5) trading platform. If you are looking for a online platform that does support MT5 click here

Dukascopy does not offer the cTrader trading platform. You can find a broker that supports cTrader here

Lets explore each of these trading platforms in detail and what options Dukascopy gives you.

Dukascopy review
Dukascopy MetaTrader 4 (MT4)

MetaTrader 4 also known as MT4 is the number one trading platform on the planet and has been in active use on financial markets since 2005. The MetaTrader 4 software delivers a feature-rich, user-friendly interface and an extremely customisable trading environment, designed to ful fill all of your trading needs and boost your trading performance. Charting functionality and advanced order management tools make certain you could monitor your positions quickly and economically.

Understand that the MetaTrader 4 (MT4) trading platform was developed primarily to trade Forex but you can also trade other types of financial instruments through CFDs and Spread Betting. You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 (MT4) platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with Dukascopy. You can learn more about the MT4 Platform here.

You can start using the MetaTrader 4 platform with Dukascopy in multiple formats including through an online web platform, Through a downloadable application for Windows PC's and Apple Macintosh computers. Dukascopy MetaTrader 4 is compatible with the latest macOS Mojave. Dukascopy allows traders to trade on mobile devices through Android and IOS devices like the iPhone.

Metatrader 4 Webtrader on Dukascopy

MetaTrader 4 is the most popular trading platform in the world as most and more traders begin to trade online Metatrader 4 is available as a web based application available through your web browser. MetaTrader 4 web software provides the same easy to use performance as the desktop version using advanced charting, a highly customisable trading environment, easy to access online trading tools and many different indicators. You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world.

Trade Dukascopy MetaTrader 4 on IOS Devices

You can download the Dukascopy app or also trade with Dukascopy through the MetaTrader 4 application on the Apple app store.

Download the Metaquotes MetaTrader 4 Program for free of charge from Apple's App Store. Dukascopy customers have instant access to this Financial markets, with the ability to completely manage a Portfolio on the go.

Trade Dukascopy MetaTrader 4 on Android Devices

Andorid mobile devices and tablets are used by millions of people globally. Dukascopy provides its clients access to the MetaTrader 4 platform on Android supported devices so that customers can monitor the financial marketplace and trade directly from their Android-based Smartphones and tablets. The Android Dukascopy MetaTrader 4 Android application enable traders to make the most of multiple advanced trading features which enables them to monitor and trade Forex quickly on the go, simply and securely.

Trade Dukascopy MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators is a Bundle of three Major indicators including:

• Analyst Perspectives - A go-to resource for leadership and key levels.
• Adaptive Candlesticks - Identifies chart patterns which illustrate important changes in demand and supply.
• Adaptive Divergence Convergence (ADC) - Much like MACD however useful at shorter lengths and provides more timely signs.

Dukascopy MetaTrader 4 Advanced Trading Tools

The Dukascopy advanced trading tools for MetaTrader 4 are aimed at improving the total trading experience and providing traders with a competitive advantage. Dukascopy offers access to 20 exclusive tools which includes feature rich trade execution & management programs, sophisticated notification alarms, messaging facilities, innovative market data & more.

Trade Dukascopy MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal provides a intuitive easy to use dashboard where traders can administer and supervise several trading accounts. MultiTerminal will let you manage over 100 Accounts simultaneously allowing you to place market orders, pending orders, view live market prices and track all accounts and equity at real time. All Trading accounts must be in on the same MetaTrader server. MultiTerminal doesn't support Automated Trading scripts like Expert Advisors.

Dukascopy MetaTrader 4 AutoChartist

Dukascopy Autochartist provides the world's first Market Scanner available for MT4 using a non-trading Expert Advisor script. Scan markets for trading opportunities while viewing all symbols and time intervals from a single graph. Gone are the days of launching a lot of graphs on which you can't remember which currency you're taking a look at. Autochartist offers a simple user interface that can be customized to suite how you like to trade.

Dukascopy Trading benefits

• Allows scalping
• Allows hedging
• Offers STP

Dukascopy Trading Accounts Offered

Below we give an overview on the account types that Dukascopy offer. Whatever you are looking to trade the varying Dukascopy account types will be able to provide you with what you need.

• Demo account
• Micro account
• Mini account
• Standard account
• ECN account
• STP account
• Islamic account

Can I try Dukascopy before I buy?

Dukascopy offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Losses can exceed deposits

Dukascopy withdrawal and funding methods

Please note that the list of Dukascopy payment methods below depend on the Dukascopy Entity and the Clients Country of Residence.

All available Dukascopy payment methods available to you can be found in your Dukascopy members area checked on the Dukascopy website.

Dukascopy offer the below funding payment methods. You can use any of the below deposit options if available in your region. learn more about Dukascopy

Dukascopy Payment Methods

• Dukascopy accepts Credit cards
• Dukascopy accepts Bank Transfer
• Dukascopy accepts Debit cards

How can I start trading with Dukascopy?

When opening a trading account with Dukascopy, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Dukascopy trading platforms here. You will need to provide some basic documentation to prove your identity as part of Dukascopy onboarding and normal KYC identity checks. These checks are standard practice and help Dukascopy provide a safe financial environment for their 10,000 users.

Losses can exceed deposits

Performing trades with Dukascopy

Dukascopy allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As Dukascopy offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the instruments.

Limit Risk When Trading with Dukascopy Stop Loss, Dukascopy Stop Limit Orders

A stop-loss order is an order placed with a broker like Dukascopy to buy or sell once the stock reaches a certain price. A stop-loss is designed to limit a traders loss on a security position.

Most traders need to use stop losses to protect themselves from huge risk unless the trade is hedged against another trade or the trader is not using leverage. Circumstances differ depending on the trade and the markets.

Education resources at Dukascopy

To trade effectively with Dukascopy, it's important to get a have a good understanding of the Dukascopy trading tools and the markets. Make sure you make full use of all education tools. This includes eduction tools with Dukascopy and externally.

Dukascopy offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy and sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.

Having an analytical approach may be a good way to approach trading with Dukascopy.

Take time to look around the Dukascopy platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at Dukascopy

As part of our Dukascopy review we review customer service options, response times and Dukascopy trading platform problem resolution effectiveness.Dukascopy support a wide range of languages including Chinese, English, French, German, Italian, Japanese, Polish, Portuguese, Russian, Spanish.

Dukascopy have a triple AAA grade support and customer service rating because they offer a wide range of languages, live chat, email and phone support.

Dukascopy customer service support multiple languages from all over the world. Having a broker that can hire people from various locations in the world who can better communicate with you in your local language is a huge advantage well trying to deal with issues.

Your customer service experience with Dukascopy has to be a positive one for you to effectively trade the financial markets on the Dukascopy platform. Dukascopy should make sure all of your questions are answered and your Dukascopy platform issues solved. When a Dukascopy customer has any queries regarding Dukascopy the Dukascopy customer support team should take these issues seriously and offer a quick and effective solution. Dukascopy have a great client support team, which is why we have rated their customer service highly.

Livechat Support at Dukascopy

We tested the Dukascopy live chat and it works well. We sent messages to Dukascopy livechat through their app and website and recieved a response within 3 minutes. Its important you test the Dukascopy chat service yourself. a responsive chat service from Dukascopy gives a great support experience to Dukascopy chat service users. Its much better than waiting days for an email.

We tested communicating with Dukascopy support in multiple languages in multiple countries. The Dukascopy help center where able to quickly resolve our customer issues.

Email Support at Dukascopy

We sent several emails to Dukascopy and answer times overall were excellent. The fastest response from Dukascopy was less than 2 minutes and the slowest response was 3 hours. Support response times may vary for you with Dukascopy, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall very good email support from Dukascopy.

Phone Support at Dukascopy

We called Dukascopy and the call was answered very quickly. The call was answered in less than 1 minutes.

The Dukascopy phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual Dukascopy team by calling in varying languages. Dukascopy made an effort to make sure our queries were answered.

Overall great phone support from Dukascopy.

See how Dukascopy Support Compares Against Other Brokers

What you will need to open an account with Dukascopy

As Dukascopy is regulated by Financial Industry Regulatory Authority (FINRA), Financial Services Authority (FSA), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware that the expiration date of Proof of address document for different entities under Dukascopy Brand may be different.

• A scanned colour copy of your passport, driving license or national ID
• A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore Dukascopy's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Dukascopy you can visit the Dukascopy trading platform here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.dukascopy.com/ on October 17, 2021.

Dukascopy review written by Andrew Blumer and Mark Hansen