Dukascopy Bank
Main information about Dukascopy Bank
Dukascopy Bank is headquartered in Geneva, the capital of Switzerland. This bank is part of the Dukascopy group. The main branch is licensed by the Swiss Financial Market Supervisory Authority, FINMA. The subsidiary Dukascopy Payments, located in Riga, operates in accordance with the rules of the Latvian regulator.
The Dukascopy Bank website contains extensive information, and the Russian-language version is fully functional. Detailed information can be found in any section of the site. However, it is sometimes difficult to find answers to important questions due to the lack of differentiation between primary and secondary information. When planning to interact with Dukascopy Bank, be prepared to study extensive regulations and instructions on all aspects of working with the bank. This differs from the usual conciseness of some other brokers. The site offers a lot of analytical materials and educational resources, including Dukascopy TV.
Offered instruments
- Forex
- CFD
- Cryptocurrencies
- Binary options
When considering binary options, keep in mind that in most EU countries, retail trading of binary options has been banned since 2018-2019, as this area is considered problematic. While Switzerland, not part of the EU, remains a center for binary options. Therefore, Dukascopy Bank from Geneva and its Japanese division continue to offer options trading, while Dukascopy Europe, operating within the EU, does not.
Account types and conditions
To start trading with Dukascopy Bank, you need to open an account with them. Residents of Japan cannot open an account with Dukascopy Bank and are recommended to contact the local branch of the group. US citizens are also not served. According to international agreements, the bank does not accept residents of Iran, North Korea, Myanmar, Syria, South Sudan, and Cuba.
ESMA decisions on reducing leverage in EU countries do not affect Dukascopy Bank. Currently, the bank offers the following leverage:
- up to 1:200 on currency pairs, gold, and major indices,
- up to 1:100 on other stock indices and commodities (except gold),
- up to 1:10 on individual stocks,
- up to 1:3 on cryptocurrencies.
A wide range of account types with their own features is available on the site, with comprehensive information accessible on the site.
The minimum deposit is $100.
Dukascopy Bank offers technical developments that allow clients to appoint a manager for their account. However, the client bears full responsibility for all consequences of such a choice.
Provided platforms
- MetaTrader 4
- JForex
- Java SWFX
All trading platforms offered by the bank provide access to the Swiss SWFX trading platform. It is among the top 10 forex platforms globally, known for high liquidity and instant trade execution.
Dukascopy Bank overview
This is one of the longstanding participants in the forex market with a strong reputation and brand reliability from Switzerland. However, some clients complain about lengthy verification and withdrawal processes.
It is important to remember that different companies within the Dukascopy group set different rules and conditions for clients. Therefore, when contacting official branches in Riga, Kiev, Moscow, or elsewhere, clarify which rules are offered for cooperation in your case. Be prepared to carefully review all the documentation provided again, as there may be specific features and nuances. Working with banks providing brokerage services and Swiss financial legislation requires special attention to details and nuances.