Dukascopy Brokerage Review: An In-depth Look For Traders

Hello, fellow traders and welcome to another insightful brokerage review from dayfunded. Today, we take a deep dive into Dukascopy, a trading broker that has been in the industry since 1998. With its headquarter in the Swiss FX Group, Dukascopy has established a reputable profile, garnering an average rating of 4.6 out of 5 across multiple review platforms. Let's dive in and evaluate this broker.

Account Opening

Dukascopy has a low-entry account opening threshold. With just a minimum deposit of $100, you can start trading, which is a good sign for beginner traders. The minimum position size is 0.01. This ease in account opening, coupled with the low account size, makes this broker a very desirable choice for newbies in the trading world.

Regulation and Security

Reliability and trustworthiness are significant factors to consider when choosing the right broker. Dukascopy is a seriously regulated broker. This means that they adhere to a stringent set of rules and regulations helping ensure your investment's safety. Furthermore, they offer segregated accounts — this essentially means that your funds will be stored separately from the broker's operating funds. A feature that further helps to ensure the safety of your capital.

Trading Features

One of Dukascopy's strong suits is its diverse range of trading features. The broker encourages trading by phone, offers the option for managed accounts, and supports PAMM (Percentage Allocation Money Management). Traders also have access to their personal manager. These premium service features put Dukascopy ahead of many of its competitors.

The broker also regularly hosts trading contests which can be a great opportunity for traders to learn, compete and hone their skills towards better trading strategies. Moreover, they offer bonuses to their traders, keeping them incentivized and engaged.

However, one disadvantage for traders from the United States is that Dukascopy does not allow U.S. traders. This is likely due to stricter regulations and policies in the U.S.

Spreads and Leverage

Dukascopy boasts of having a low spread. This is advantageous as smaller spreads ensure that your trading costs remain low. This broker, unfortunately, fails to provide a maximum leverage value, which can be viewed as a drawback by some traders who leverage to amplify their trading outcomes.

Bottom Line

In conclusion, Dukascopy is a well-regulated broker with a slew of convenient features conducive to a great trading experience. Apart from the limitation for U.S traders and lack of information on maximum leverage, Dukascopy ranks highly among most traders. It is a great choice for both beginners and experienced traders with its low minimum deposit and a range of account management features.

While this review provides an in-depth insight into Dukascopy, we strongly recommend that you do your due diligence before choosing a broker. Happy trading!