Dukascopy Review – Are They Safe or a Scam?
Check Our Ratings and Reviews for 2023
Our Dukascopy experience and rating report found that this is an excellent site for anyone who wishes to take their crypto trading up a level. Keep reading our Dukascopy review to see why this site is such a good option.
Is Dukascopy reliable? You’ll find that this is a trusted Swiss bank and trading platform that is fully regulated in Europe. Alongside its CFDs for cryptocurrencies, Dukascopy also gives you the option to trade on forex markets, binary options, shares, commodities, and much more. Take a look below to see what else we discovered in this Dukascopy review.
When loading up the Dukascopy site for the first time, you might see a piece of promotional text that advertises the fact that there is a ‘Welcome bonus 100%’. Our Dukascopy review took a good look around the website and eventually found the deal that it was referring to.
This is the ‘Binary Anniversary Bonus’. You can apply for this bonus in the 30 days since you last credited your account, and then you will require a 100% on the account equity for all Binary Option accounts. Remember that there are strict conditions on the volume you must trade before you make a withdrawal, otherwise the whole bonus will be cancelled.
We should also note the fact that this bonus is also available for forex accounts. It’s a tempting deal that is sure to be of interest to some investors, but might not be such a good fit to those who are just starting out with online trading. Despite this, it’s probably a better option than the slightly dubious Miss Dukascopy competition we saw elsewhere on the trading site.
Dukascopy has clearly worked hard in coming up with a comprehensive online trading platform that never feels too cluttered. Much of this is down to a clear website design that uses a clear white and black colour palette to keep everything easy to read, and simple to navigate around. We also appreciated the fact that the Dukascopy website and trading platforms loaded quickly and appeared to be free of any glitches that could ruin any online trades.
Everything on the Dukascopy website is located and organised in a logical manner. There’s a useful navigation bar that highlights all of the trading options such as forex, crypto, CFD, binaries and so on. You’ll be kept in touch with the markets thanks to constantly updated displays of the forex markets and we also appreciated the news updates that appeared on the bottom of the trading site.
It’s worth noting that there’s a wealth of information on the Dukascopy site that’s designed to help you take your online trades to the next level. This means that you can benefit from a range of technical analysis and expert commentary, and even examine some insightful trade pattern ideas. Plus with the excellent Dukascopy TV offering you some fascinating tutorials on everything from Dogecoin to fintech news, you’ll be impressed with the sheer volume of information on this site.
Our Dukascopy review found that you get a wide choice of different trading accounts when you sign up to this brand. We’d recommend starting off with the demo account that gives you a safe and simple start to try trading on forex markets and CFDs for things like cryptocurrencies. There is also a demo account for binary options trading, and it would be worth using the demo account for using the MT4 platform for forex trading.
You can simply register for a demo account at Dukascopy and once you get your login, you’ll be able to see how the likes of MT4 works for trading on anything from the S&P 500 to the Nasdaq. What’s best is that you can even do this with historical or real-time data to get a feel for when your strategies are working or need improving. Just remember that these demo accounts only last for a couple of weeks.
Beyond these demo accounts, you can get started proper when you open a live trading account. Further account options include the multi-currency account and there is also the option to open a live account in gold.
When you get started at Dukascopy, you’ll find that you’re presented with a choice of different trading platforms. These include the likes of the brand’s own JForex 3, the well-known MT4, and the Web Binary Trader which caters specifically to binary options.
We should also note that Dukascopy has created excellent mobile trading apps. These are available for iOS and Android devices and they are packed full of integrated market signals to help you stay in control of your investments. Don’t forget to customise the alerts on your app to make sure that you benefit from the dozens of different technical indicators. It’s free to download the app, although you might be hit with some charges should you exceed the permitted number of SMS alerts each month.
If you read most of Dukascopy reviews, you will know that this brand has a decent reputation for spreads and commissions. This is something that can be seen all over the homepage of the Dukascopy site, which advertises the fact that you can enjoy a EUR/USD spread from 0.1 pips for all accounts. This spread rate doesn’t just apply to forex markets, but it is also the pricing package for the brand’s popular CFDs too.
We should note the fact that you will have to make a minimum deposit of $100 to get started at Dukascopy. There is no minimum withdrawal amount, although there might be costs for withdrawing that could run anywhere up to $50. Just remember that there is an account inactivity fee of $40.
One of the best reasons to use Dukascopy is the quality of the brand’s customer support team. Our Dukascopy review was delighted to see that the broker offers 24-hour live trading support, which is something you don’t see at too many other online trading platforms. Just remember that you won’t be able to get customer support on weekends, but the good news is that Dukascopy customer service is available in over a dozen different languages.
Chances are that the Dukascopy live chat icon will pop up at some point during your time at the website. This offers you a quick and easy way to get any of your queries resolved. You also have the option of sending one of the Dukascopy customer service agents an email, or there is a telephone number for the brand’s customer support that’s based in Switzerland.
You’ll be able to keep up with the latest news from Dukascopy courtesy of its social media channels on Twitter and Facebook. Plus, there’s a wealth of tutorial guides on the trading site along with some cool community areas on the MT4 and JForex trading platforms. All of which should provide you with plenty of help at Dukascopy.
As this brand is a fully regulated Swiss bank, our Dukascopy review wasn’t hugely surprised to see that the brand offers a full deposit protection service. This means that your deposits will be protected up to a value of CHF 100,000. We should also note the fact that the brand’s site uses industry standard digital encryption technology to keep your data safe. The only thing that we were a little surprised by was the lack of two-factor authentication on some of the trading software.
One thing that you might surprise you is the fact that Dukascopy is not regulated by the UK Financial Conduct Authority. But don’t let that fact put you off using this site for your online trades. This is because Dukascopy is fully regulated in Europe by the Financial and Capital Market Commission. Plus with further regulation everywhere from the Swiss Financial Market Supervisory Authority to the Japan Financial Services Agency, it’s easy to see why this has become such a trusted place for online trading.
Dukascopy is a Switzerland-based bank and online broker platform that has been in existence since 2004. It has now become a multinational brand with offices everywhere from Japan to Latvia. The brand allows you to trade in forex markets, binary options and contracts for difference (CFDs).
Recent years have seen Dukascopy winning a number of awards for things like Best Forex Trading Apps, Best Forex Bank and Binary Options Broker of the Year. All of which means that Dukascopy could be an excellent option for anyone with an interest in online trading.
Our Dukascopy review has shown that this is an online trading site that can be trusted. It features a wide range of regulation in Europe and it has the sheer size necessary for you to feel confident about making your trades here.
The Dukascopy crypto trading platform is excellent and we appreciated the simple way in which it allowed you to buy and sell CFDs for Bitcoin, Ether and Litecoin. In fact the whole site was designed to make it fast and simple to trade anything from shares and commodities to speculate on the forex markets.
We liked the way that you were offered two quality trading platforms to pick and choose from, and it was good to see that Dukascopy allows you to use a demo account before you try the real thing. Plus with some relatively low costs, it’s easy to see why so many people have signed up to Dukascopy. So be sure to keep this broker in mind for when you want to try some online trades.