Dukascopy was established in 1998 and since then it is world’s biggest ECN broker. Their main business is with ECN, which is an unlike situation if compared with other trading platforms. Let’s take a look at their exclusive approach to the trading.
Pros:
• It provides the lowest possible spread. It is even lower than its competitors.
• Execution is very fast.
• Support is very quick.
• Big liquidity is provided with ECN broker.
Cons:
• Funding options are very limited.
• No entry for a small-sized account. The minimum deposit limit is $1,000.
Summary of the services
1. Spread: Dukascopy provides the option of getting in touch with Swiss Foreign Exchange Market. Through this, large rooms of ECN brokers are provided with various liquidity institutes. This way, a trader will get to best ask price and bid price.
2. Leverage: The leverage ratio is 100:1. Though it seems less than other trading platforms, but with that the minimum deposit limit is set to $1,000.
3. Commission: It is unlikely that the broker will get his share because you will already have the best price in ask price and bid price.
4. Minimum Deposit: Minimum required deposit is $1,000. However, the deposit options are very limited. Only wire transfer is available for up to $250,000.
5. Expert Advisor and Other Strategies: Expert advisor is allowed in the Meta trader 4 platforms, but it is not directly provided on the platform. Auto-trading is also supported. Trailing stop and hedging is allowed by the platform. This will give the options to the traders for executing multiple techniques. A Scalping Features is also available.
6. Trading platform: Dukascopy provides access to Swiss Forex Marketplace. Several forex trading platforms are offered through this way. It includes Java platform, JForex, and Web platform.
7. Support: The support is available for 24/5. Various communication options are available.
8. Citizenship: It also accepts US citizens along with other countries.
9. Currency Pairs: More than 19 currency pairs are available to trade.
10. Execution Type: Execution of trade is very instant.
Conclusion
When it comes to trading results, a lot of factors play important roles. This includes tight spread, fast execution, and minimum slippage. A lot of traders are happy with the services of Dukascopy.
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