Dukascopy Review

The Swiss broker Dukascopy offers traders a very broad spectrum of markets and thus also tradable securities. Initially, a broad selection of underlying securities is available for CFD trading. In addition, currencies can also be traded directly. Furthermore, Dukascopy offers investors the opportunity to try their hand at trading binary options. Stumbling blocks and dangers lurk, especially in the context of entry, which can cost many young investors a lot of money and then also the desire to trade. Against this background, it is also a great advantage that Dukascopy offers its customers a specific demo account for each type of trade.

In addition, traders at Dukascopy can access a very broad range of market information and training. The contents and offers, which are available via the online broker Dukascopy, have aroused our interest and we wanted to know how these things are put into practice. In our following review, however, we would not only like to go into the services and support options, but also answer the question for the reader as to how confident they can feel about Dukascopy. We want to exclude the possibility that fraud or rip-offs are the order of the day.

The experiences at a glance

We have subjected the Online Broker Dukascopy to a relatively detailed test and thereby looked at a number of features and categories. Before we go into the various individual aspects in detail, in this first section we would first like to present our most important experiences, which we made in the course of our test. The first thing that stands out is the great variety that this online broker has to offer his customers. A first look at the Dukascopy website reveals that the trading offer not only includes CFD trading in stocks, commodities, indices and currencies, but that a special account can also be opened for trading in gold. A third option available to traders is trading with the binary option instrument. Here, too, you can rely on the price performance of underlyings from the common areas. We were also highly impressed by the offer that Dukascopy makes available to traders in connection with trading. Our first glance was at the TV section. Here, self-produced formats are regularly added. Traders can benefit from current market assessments, technical analyses and specific strategy proposals.

However, the range of information and training on offer is also impressive and represents genuine support for the trade. All content is available in German. Beside the large selection for the trade and the appropriate support Dukascopy offers also direct service on high level. The Online Broker has various branches around the world, which can be contacted directly by telephone. In addition, a callback service is offered. Customers also have a wide choice when it comes to the platform that can be used for trading. Of course, the MetaTrader, one of the most widely used platforms, is available for download. In addition, several other platform variants are also available, including a browser-based version. According to our impression and our experiences with Dukascopy in the course of our test, this online broker can be regarded as a provider offering a wide range of services for and around trading. What it looks like in the area of security and seriousness, we would like to clarify in the following section.

Check: Is Dukascopy a serious online broker?

The online broker Dukascopy is a company from Switzerland, which has its own banking license. Only on this basis it can be trusted that it concerns an absolutely respectable offerer, with whom neither with fraud nor with Abzocke must be counted. However, we were also able to establish a reliable and fair relationship with our customers in the course of our test. First of all, the transparent terms and conditions, which are also reliably implemented and adhered to, have a serious effect. Should any questions arise in connection with trade, it is very easy to reach a responsible employee by telephone who can provide competent information.

The offer

As already mentioned, the customers who choose the online broker Dukascopy as their trading partner have a very wide range of options. This selection also refers to the account formats that are available for selection. On the positive side, there is no difference in the amount of deposit for each type of account. In principle, all traders can access Dukascopy’s full range of services regardless of the amount of the deposit or the trading volume. The fact that there are nevertheless different accounts to choose from is solely due to the fact that separate accounts must be opened for CFD trading, trading in gold or trading in binary options. A further plus point that we found in our test is the fact that a demo account is also provided for each individual area. We would now like to deal with the respective trading types and the associated accounts separately and in more detail.

CFD Trading with many Underlyings

In our estimation, a certain focus can be seen in the offer for trading with CFD products. The Online Broker pursues the strategy of offering its customers a small but well-structured selection of underlying securities for trading. Like with almost all CFD brokers, the offering includes the categories equities, stock indices, commodities and currency pairs. Let’s start by looking at the available currency pairs. With around 50 combinations, there is an impressive selection available for leveraged trading. As expected, the majors play an important role, i.e. the internationally most heavily traded currencies Euro, US Dollar, Japanese Yen and British Pound. In addition, a number of other currencies can also be traded in various combinations via CFD. Among other things, traders can access the Turkish lira, the Russian rouble and, how else could it be with a Swiss provider, also the Swiss franc. The dollar currencies of Canada, Singapore and New Zealand are also available. In this segment, Dukascopy also has the Swedish krona and the South African rand in its range. So the range of currencies on offer leaves nothing to be desired.

The trader also has a choice of levers that can be used here. A leverage ratio of 1:100, 1:200 or even 1:300 can be set. The corresponding conditions and margin requirements are displayed in interactive tables. In the commodities area, the precious metals gold and silver as well as the energy values natural gas and oil are available for trading. Agricultural products, on the other hand, cannot be traded via Dukascopy. However, the selection in the indices area is somewhat broader. The most important stocks from Europe, Asia and the USA are available. For example, the Dax or EuroSTOXX can be traded, while the Asian indices from Japan and Hong Kong are offered. From the USA the Dow Jones, the Nasdaq and the SP are in the program. The leverage cannot be set here, it is consistently at 1:100. Finally, a look at the stock CFDs, where around 40 individual stocks can be traded with individually adjustable leverage. The German market plays a special role in the selection, as all Dax stocks are represented. In addition, there are several other stocks from the second series of German stocks on offer. Further shares are not represented against it.

Also trade with binary options possible

Besides the trade with CFDs in many places also the instrument of the binary options as important form of trade became generally accepted. Especially for private investors, who still have rather little experience in trading with leveraged instruments, this instrument offers a comparatively easy-to-use trading option. In the basic version, trading binary options does not require more than correctly predicting whether a certain value will rise or fall. In the case of Dukascopy, in principle the same values can be accessed that are also available in the CFD area. This means that in addition to a wide selection of currency pairs, international indices and German stocks are available for trading. The average profit rates offered are between 50 percent and 70 percent per trade. According to Dukascopy, it is also possible to freely select the expiry rates for transactions.

In addition, a wide selection of other instruments can be accessed in a further area (stock options). The range includes a comprehensive selection of the markets Asia / Pacific, Europe and America. Options can also be used to benefit from stocks in the markets of Norway, Switzerland, France or Great Britain. The American markets include Argentina, Brazil, Canada and the USA.

Other accounts available

As already mentioned, Dukascopy is a company with a classic banking license. For this reason, some other services can also be used, such as a gold account or a current account. With these offers the offerer addresses itself particularly to customers, who would like to bring their money before possible economic turbulences in security, which are to be observed at the international financial markets again and again. The precious metal gold or even the Swiss franc as a safe currency is a good choice. With the gold account, holdings of this precious metal can be built up and managed cost-effectively. The current account works in a similar way to a classic current account. Savings can be deposited here, just as it is possible to have an individually agreed credit line. The account is held in Swiss francs.

In total, Dukascopy is not a classic online broker who concentrates exclusively on trading in leveraged products. In addition to binary options as an additional variant, some more classical banking services can also be used.

Bonus for trading binary options

As mentioned above, Dukascopy is not an online broker in the classical sense. Nevertheless, it is possible to fall back on a classic bonus. Such a bonus has almost become the standard in the industry. Background is the tendency of online brokers to attract attention in the large selection of different providers. In addition, a bonus also offers incentives to deposit more money and generate higher turnover in the trade. However, the bonus offer only applies to trading with binary options. A corresponding sub-account must also be opened for this purpose. A bonus of up to 100 percent can then be applied for on the paid-in capital. However, this additional capital is initially to be understood exclusively as virtual capital, which can be used in trading, but which is not so easily paid out. For this extensive conditions must be fulfilled in the trade. First of all, it is necessary that sales of 40 times the desired payout amount have been achieved. In addition, no payments may be made from the trading account before these requirements have been met, as the bonus claim is completely or at least partially lost.

Deposit and payment by bank transfer or credit card

For the deposits and payments, which are of course also necessary with Dukascopy before you can start trading, there are various options available. The easiest way is of course for customers who have a normal account with this bank. This allows money to be transferred directly from the current account to the trading account. However, such an account is by no means a prerequisite for trading binary options or CFDs. Of course, money can also be easily transferred by credit card.

The services of Visa and MasterCard as well as the debit card provider Maestro are accepted. While it is not possible to pay money in or out with an internet-based service provider, Dukascopy offers its customers to capitalize the account with a classic bank transfer. While the process can be carried out in a very short time with a credit card or with your own account, with the classic bank transfer it is to be expected that it takes a few working days until the money is available on the trading account and can be used in the trade.

Security and regulation at a high level

As a company with a classic banking license, Dukascopy can also offer its customers a high standard of security. Switzerland, which is responsible for the regulation of this provider, does not belong to the European Union, so that in principle somewhat different regulations apply. It can be assumed, however, that at least similarly strict regulations will apply in Switzerland in order to protect the interests of customers. This also includes, among other things, deposit insurance, which can cover up to 100,000 Swiss francs in the event of economic problems or even insolvency of Dukascopy.

Dukascopy with good support

With regard to customer service, which traders can expect from Dukascopy, it is also evident to a certain extent that it is a bank and a more traditional provider. Thus at present no live Chat is offered, in order to give the possibility to the customers of taking up uncomplicated contact to an coworker. This may be unusual, but is not a significant disadvantage. Our experience has shown that telephone support is also very easy to reach. The branch office in Switzerland can be reached directly during trading hours. In addition, it is possible to place a callback request, which experience has shown to be handled very quickly. The third way to reach the support is to write an e-mail. While the direct support around the trade can thus be assessed very competently and friendly, a very extensive offer is held ready for the support also beyond that.

Many offers on user-friendly web page

To be able to use the extensive support offer, a quite user-friendly web page can be fallen back on. Since the offer is altogether very broadly staggered and complex, the prospective customer should take itself however first some time, in order to make itself familiar with the different ranges. In any case, it becomes clear that the provider is very keen to provide the customer with all the necessary information about the trade. In addition, there is a large selection of platforms where, in addition to the MetaTrader, there are two other specific offers to choose from. After a short familiarization period, these platforms can also be used very well in trading.

Mobile Apps offer additional flexibility in trading

The offer of mobile trading is of course also available to Dukascopy customers. It is very easy to download a special app for each individual trading segment, i.e. trading CFDs or binary options, and install it on the mobile device. The corresponding apps are available free of charge on the website. In our experience, problems with the installation as well as with the use of this offer are not to be expected, since the control is very closely oriented to the possibilities of the regular platforms.

Fazit – Dukascopy offers the best conditions for trading

With Dukascopy we have tested a provider for trading CFDs and binary options, which not only offers its customers the best possibilities in the trade, but also scores with an extensive offer around the trade. This includes our own TV offer as well as other video formats dealing with current developments and special offers from Dukascopy. As a company which also has a banking licence in Switzerland, a high level of security and reliability can also be expected. Customers do not have to reckon with fraud or rip-off. In addition, Dukascopy can also be used for other services, such as a gold account or a current account.