Dukascopy

Dukascopy (Dukascopy Bank SA) is the largest international Forex broker, successfully operating since 1997, offers a full range of financial services (including binary options trading) for the trader of any level. Official representative offices of the company are located in Europe, Asia. It is one of the experienced companies securing stability, reliability and traditional Swiss quality not to an individual user only, but also to the largest institutions.

And yet, is Dukascopy a scam or a decent company you can trust? We will answer this question in the detailed review of the broker.

Terms of trade with Dukascopy

The broker belongs to Dukascopy Group, the largest international group of companies, which includes Dukascopy Bank SA (Swiss innovative online Bank, working for traders around the world), Dukascopy Europe IBS AS (focused on working with private traders from the EU; is part of Dukascopy Bank SA). The secret of Dukascopy’s success lies in providing banking and financial services through the introduction of innovative solutions that make trading functional and efficient.

Choosing this broker for trading, each client receives a Forex trading account in a Swiss Bank, which is one of the most reliable and secure nowadays, as well as a unique access to advanced features of Swiss Foreign Exchange Marketplace, the largest pool of Forex ECN liquidity that use major banks, financial institutions and investors. This platform is the result of IT solutions of the company and its close cooperation with banks and financial institutions, offers to the trader institutional liquidity, instant execution of transactions. Users work directly with the market, offering it their orders, placing individual bid and offer orders, allowing them to buy and sell currencies at improved quotes. This allows users to save on spreads, conduct profitable trading for both sides.

The broker also offers other solutions that have made it an industry leader. For example, trading applications: JForex SWFX (ability to create strategies and indicators); Java SWFX (contains a large number of monitoring tools for technical analysis); web-platform SWFX (functional program with quick access, market signals, etc.); iPhone SWFX and Android SWFX (convenient mobile platforms compatible with Dukascopy TV and offering a lot of opportunities for trading at any time from around the world). It is also possible to combine SWFX and MT4 terminal using third-party solutions.

Such trading platforms of the company are convenient, have a thoughtful and intuitive interface, the function of «Gapping Restriction», which allows to limit gapping or eliminate it completely, provide fast trading in two modes «Net Position» and «Hedging». Users can take advantage of round-the-clock technical support, contact a personal manager who will help to adapt the system quickly and start making real money. The official website of Dukascopy contains a large amount of material that will be useful to any trader (about the company, trading conditions, analytics, training materials, including the popular online project Dukascopy TV, etc.).

Bonuses in Dukascopy

Each trader of the company can get two types of bonuses:

1) Bonus of 10%

The broker offers an additional profitable bonus of 10% of the deposit amount. Traders claim the bonus within 30 days of transferring funds to the account. You can withdraw the funds if a certain trading turnover was reached within a year from the date of the bonus crediting. Check with your personal manager for detailed bonus terms and conditions.

2) Bonus 20%

A profitable bonus of the company will allow you to get additional funds for trading. To take part on the offer, you need to apply for a bonus within 30 days from the last deposit. You have to work bonus. Check with your personal manager information about the detailed bonus terms and conditions.

Deposit and withdrawal

Dukascopy offers a variety of possibilities for deposit and withdrawal operations. To deposit, need to sign up by broker, pass the sum to the account choosing a convenient way to transfer funds (minimum deposit – $100) from the options offered by the broker:

• Bank transfer,
• Credit and debit cards MasterCard, Visa, Maestro, Visa Electron.

Withdrawal methods:

• Bank transfer,
• Credit and debit cards MasterCard, Visa, Maestro, Visa Electron,
• Dukascopy Payments (conduct transactions via mobile phone),
• Dukascopy Connect (a convenient messenger developed by a Swiss Bank).

A trader can open an account in any of more than 20 currencies. The broker does not charge any commissions for account replenishment.

Complaints about Dukascopy

Dukascopy is one of the oldest Forex organizations and has a variety of reviews in the network, both positive and negative (truth about Forex). Among the advantages traders note the credibility and reliability of a serious broker with a reputation and reliability of the Swiss Bank, which guarantees favorable trading conditions, available deposit, accuracy of quotations, fast execution, quick withdrawal of money, high-quality flexible platforms, professional assistance of a personal manager, quick communication with technical support. Thanks to Swiss quality and safety, the company is recommended for trading. It is worth noting that there are more positive comments about the broker, which causes trust among users.

However, there are negative user reviews, which mainly relate to problems with the terminal (technical failures, freezes, rare requotes and gapping), a long verification procedure, and a long withdrawal of funds. At the same time there is an agent working on behalf of the organization on the forums in order to minimize the negative and to resolve the customers’ questions.

Dukascopy broker regulator

The broker is licensed under the supervision of the Swiss financial Market Supervisory authority (Swiss Financial Market Supervisory Authority), the company has also received the status of a Swiss Bank with the right to provide the user with any banking services. It is worth noting that FINMA has rather stringent requirements for financial institutions, to get its regulation is extremely difficult and not all companies, including the Forex market, can do it. All representative offices of the company (European, Japanese, etc.) have the necessary licenses to carry out financial activities.

• Check Dukascopy license on FINMA website

Is Dukascopy a scam?

Dukascopy is one of the oldest and experienced organizations that has been successfully providing its user with Forex services (as well as binary options) based on traditional Swiss quality for almost 20 years. The company is the undisputed leader in Europe and around the world, providing a unique opportunity to have an account in a Swiss Bank. This is largely credible, indicating that is it not a one-day broker.

There are enough references about dealing with the company in Internet, at that they are more positive aspects, which only confirms the quality of service and favorable trading conditions. There are negative comments in the Internet, but they are far fewer. At the same time, a representative of the broker works on the forum and tries to resolve the questions raised by the clients.

A separate significant advantages of the organization are a large number of its own developments: the pool of Swiss Foreign Exchange Marketplace that is used by the largest financial organizations, banks, hedge funds, brokers (for example, Alpari); all traders have a large number of platforms that have positive reviews on the network: JForex SWFX, Java SWFX, SWFX, mobile platforms (also clients can work with the usual MetaTrader 4 terminal).

Such an impressive number of developments are demanded by different financial institutions and indicate a serious confidence in the broker, and his willingness to invest significant resources in developing innovations that make the trade more comfortable and more functional, that this is definitely not a scam artist and bucket-shop, but a powerful structure, offering quality service and fulfilling their obligations on the market. The resource contains a large amount of material about the company, platforms, trading conditions, analytics and training information. The broker has a license to carry out activities (this information is also available on the website), which is a confidence point that guarantees the safety of trading.

Should we consider Dukascopy as a scam artist and a bucket shop? I guess not. For almost 20 years of successful diverse activities in the financial markets, the company proves this by being an indisputably reputable organization that fulfills its promises not only to the trader, but also to prestigious institutions. To avoid problems in working with any broker, properly work with a personal manager, specify the full information about the rules how to use the bonuses, trading features, withdrawal procedures.

Summary

The largest international Forex broker Dukascopy has been successfully operating in the financial markets for almost 20 years, ensuring the reliability and safety of Swiss quality to each client. The company is the undisputed industry leader, providing high service not only to the private user, but also to the largest prestigious financial institutions (banks, hedge funds, etc.).

Trust and positive feedback from customers about the company proves the right development strategy, which includes following the trends of online trading, the development of innovative services, favorable trading conditions. Many users recommend the company as a worthy broker, providing wide possibilities for earning real money. Dukascopy does not stop in development, proves the seriousness of intentions, so today we will not evaluate it as a scam company. And yet the references we expect from traders may not only affect the broker’s ratings, but also caution investors against problems.