Dukascopy Review – Basic information
Dukascopy Bank SADukascopy was established in 1998 and since then it has been the world’s biggest ECN broker. Its main business is with ECN, which is an unlike the 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 by ECN broker.
Cons:
• Funding options are very limited.
• No entry for a small-sized accounts. The minimum deposit limit is $1,000.
Summary of the services
1. Spread: Dukascopy provides the option of getting in touch with the 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. The 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 Feature 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 the 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.
Interesting facts
This forex broker has more and more clients everyday. One big fact is that this forex broker offers moneybookers, credit card, wire transfer and a lot of other payment methods for forex trading.Perform operations with the house broker forex interbank Dukascopy Swiss, lets have the best spreads, as well as the increased liquidity and marketplace for online trading.
Dukascopy licence :
Dukascopy is the broker for a decentralized marketplace first (SWFX – The Swiss marketplace for forex) that combines liquidity of centralized marketplaces and numerous banks.
Dukascopy is a member of ARIF, Financial Regulatory Agency Francophone Switzerland, and is intended primarily to ensure proper compliance with the Swiss law on money laundering of all members.
Operations Info
Trading Platform: FX Hotspot FX For Hot Spot
Regulated by: ARIF
Broker Type: ECN
Leverage: 1:100
Minimum transaction size: 250K
Minimum Deposit: USD 10K
Stop Order: If
Limit Order: If
Trail Stop Order: If
Operating 24 hours: Yes
Free Demo Account: Yes
Islamic Account: No
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.
Dukascopy contests :
You can read more at Dukascopy contests page.
Here are basic monthly forex competitions :
Miss Dukascopy 2013 contest
Dukascopy trader contest – for manually trading. This competition will held every month.
Dukascopy strategy contest – this strategy is for the best automatic expert advisor which is written in Jforex programing language.
Dukascopy article contest – this is article contest for writers about forex trading.
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