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Dukascopy review :
Company Information

Dukascopy (formerly ThinkForex) was established in 2010. Today, Dukascopy is regulated in Australia (TF Global Markets Pty), the UK (TF Global Markets Limited), and Bermuda (Think Capital Limited).

Known for its efforts in the cryptocurrency space (see “Other Notes”), Dukascopy offers forex and CFDs traders access to 38 forex pairs and nearly 200 CFDs, which includes nine cryptocurrency CFDs.

While the broker offers services and features designed for both beginner and professional traders, the company promote themselves as the ‘go-to’ choice for high volume traders, scalpers and trading algos due to their New York Equinix NY4 data centre – processing over 500,000 trades per day.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Dukascopy review :
Tradable Products

Dukascopy review :
Fees & Commissions

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 fees.

Dukascopy review :
Considerations

with a trusted forex broker is crucial for success in international currency markets. As a currency trader or investor, you may have specific needs related to which platform, tool, or research requirements you have. Understanding your investment style can help determine which fx broker will be best for you.

Each year, our team here at ForexBrokers.com spends five months testing the biggest names in foreign exchange and assembles a guide to the best forex brokers for forex and CFDs trading. Here are our findings for 2020.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 69-78% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose 

Dukascopy review :
Benefits

  • Dukascopy advertises its lowest spreads, but because it didn’t provide a mean or typical spread value, we couldn’t make a good comparison with other brokers.
  • We would wish to see Dukascopy publish its own average spread data, ideally monthly, to assist provide a clearer picture on how its forex spreads average out over the whole month, as its FX pricing otherwise appears competitive.
  • Dukascopy does, however, publish average spreads for specific instruments, like CFD indices. for instance, we observed a 1.3 pip average spread on the DAX in MT4, whereas, spreads on Trade Interceptor are fixed at 1 pip.
  • Dukascopy provides market execution as its main attraction as a workplace broker. due to this, positive/negative slippage can occur, as trades aren’t re-quoted. In the UK, Dukascopy features a dealer license which is restricted as a match-principal (agency-only execution), and in Australia and Bermuda, the brand follows an identical method, although it’s going to take risks as a dealer/market maker when needed (as a contingency).

Dukascopy review :
Account Opening

The account opening process at Tinkmarkets is user-friendly and fully digital. It was also very quick, as our account was approved within a day.

Dukascopy review :
How to open your account

The Dukascopy account opening process is easy and fully digital. The online application takes roughly 5-10 minutes and our account was approved in one business day.

The five steps of Dukascopy account opening:

Provide some contact information, like your email address.
Fill out your personal information, like your date of birth and address.
Choose the account type and the base currency.
Complete a survey about your trading experience.
Verify your identity and residency by uploading a copy of your passport or ID, and a bank statement or utility bill.

Dukascopy review :
Deposit & Withdrawals options

Dukascopy does not charge any fees when deposits are made into the trader’s account. Traders can make use of the following payment methods through which the minimum deposit amount can be paid:

  • Bank Wire Transfer
  • Credit/Debit Cards
  • Neteller
  • Skrill, and
  • BitPay

Dukascopy supports the following deposit currencies in which traders can fund their accounts including:

  • AUD
  • EUR
  • CHF
  • GBP
  • USD

Dukascopy review :
Platforms

Dukascopy does offer MetaTrader 4, MetaTrader 5, MetaTrader Web Trader and the MetaTrader mobile app.

Dukascopy review :
Commissions & Spreads

Dukascopy scored highly in terms of trading fees. Spreads start from zero pips while average spreads on major FX pairs, such as the EUR/USD and GBP/USD, are 0.5 pips and 1.2 pips respectively.

With the ThinkZero spread account, there is a 3.5 commission per side of 100,000. Commissions are also charged when share trading on the MT5 and ThinkTrader platforms. An inactivity fee is charged to accounts that are dormant for six months. Traders will be pleased to see there are no swap rates

Dukascopy review :
Commissions & Spreads

Dukascopy does not currently cater for trading bonuses and there are no current initiatives to reward loyal customers.

Trading bonuses serve the purpose of encouraging traders to increase their trading activity in addition to trading higher volumes to gain access to bonuses that offer some cashback.

Dukascopy review :
Customer Support

Do you have any question or find any trouble related to Dukascopy? If you do, you should reach Dukascopy’s support to get the information that you need. Here is the detail of the broker’s customer support:

Dukascopy review :
Video Explainer Dukascopy

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Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Dukascopy review :
FAQ

Is Dukascopy a trustworthy broker?

Dukascopy is a highly regulated and trustworthy broker. The company holds licenses with some of the most respected regulatory bodies, including the UK’s FCA. Customer reviews also show the broker can be trusted.

What instruments can I trade at Dukascopy?

Tradable assets at Dukascopy include forex, metals, CFDs, cryptocurrency, and for UK residents – spread betting.

What is the minimum deposit at Dukascopy?

With the Standard trading account, there is no minimum deposit. However, the ThinkZero account comes with a $/£500 minimum deposit requirement.

Does Dukascopy have a demo account?

Dukascopy offers a demo account with $/£25,000 in virtual cash. Traders can try the MT4, MT5, and ThinkTrader platforms. Note, the demo account will expire after 90 days of inactivity.

Who is the Dukascopy owner?

Dukascopy was founded in 2010 by Nauman Anees, following years of experience in financial services. Nauman is still the CEO today.

Where are Dukascopy Data Centres Located?

The LD5 centre – London Equinix's LD5 centre is located 11 miles from the centre of London and is where over 1000 exchanges, companies and liquidity provides operate. This data centre has an uptime record of 99.99% and offers some of the fastest available execution speed. The Hong Kong centre – Hong Kong This data centre is close to the financial hub of Asia. Over 455 companies are based in the Hong Kong hub.

 Forex Rankings:
Best broker for forex 2020

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