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Dukascopy Review – Basic information
Dukascopy Bank, established in 1998, has grown to become one of the world’s largest ECN (Electronic Communication Network) brokers. Its approach to trading and the services offered have distinct characteristics and advantages. Here’s a detailed breakdown:
Pros of Dukascopy Bank
- Low Spreads: Dukascopy offers some of the lowest spreads in the industry, making it more competitive than many of its rivals.
- Swift Execution: The platform is known for its fast execution of trades.
- Rapid Support: Customer support is quick and responsive.
- Ample Liquidity: As an ECN broker, Dukascopy provides significant liquidity to its clients.
Cons of Dukascopy Bank
- Limited Funding Options: The bank offers fewer deposit and withdrawal methods compared to some competitors.
- High Minimum Deposit: The minimum deposit requirement is $1,000, which can be a barrier for small-scale traders.
Summary of Services
- Spread: Dukascopy connects traders to the Swiss Foreign Exchange Market, offering access to a vast pool of liquidity providers and ensuring competitive ask and bid prices.
- Leverage: The leverage ratio offered is 100:1, which, while lower than some other platforms, aligns with the bank’s more conservative trading approach.
- Commission: Dukascopy’s commission structure benefits from the competitive bid and ask prices pricing, potentially reducing overall trading costs.
- Minimum Deposit: The minimum deposit is $1,000, with wire transfer being the primary method for transactions up to $250,000.
- Trading Strategies: Supports various strategies, including auto-trading, trailing stop, hedging, and scalping. Expert advisors are allowed on the MetaTrader 4 platform.
- Trading Platforms: Offers access to the Swiss Forex Marketplace with platforms like the Java platform, JForex, and a Web platform.
- Support: Provides 24/5 customer support with various communication channels.
- Citizenship Acceptance: Accepts clients from the United States and other countries.
- Currency Pairs: Offers trading in over 19 currency pairs.
- Execution Type: Known for its instant trade execution.
Overall
Dukascopy Bank’s approach to Forex trading is marked by its integration with the Swiss Foreign Exchange Market, offering competitive spreads and a range of trading platforms. While it caters to a more financially substantial clientele with its higher minimum deposit requirement, it provides a robust and efficient trading environment, especially beneficial for those who can leverage its low spread and high liquidity advantages.
The trading bonus can be used only by non-European Union residents. Therefore, potential EU clients can not use forex or any CFD bonus. However, other broker promotions are usually available for all clients.
Dukascopy license:
Dukascopy is the broker for a decentralized marketplace first (SWFX – The Swiss forex market) that combines the liquidity of centralized marketplaces and numerous banks.
Dukascopy is a member of ARIF, Financial Regulatory Agency Francophone Switzerland, intended to ensure proper compliance with Swiss law on all members’ money laundering.
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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, many factors play important roles. This includes tight spread, fast execution, and minimum slippage. A lot of traders are happy with Dukascopy’s services.
Dukascopy contests :
You can read more on the Dukascopy contests page.
Here are preliminary monthly forex competitions :
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He is an expert in financial niche, long-term trading, and weekly technical levels.
The primary field of Igor's research is the application of machine learning in algorithmic trading.
Education: Computer Engineering and Ph.D. in machine learning.
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