IC Markets

Overview of DUKASCOPY Forex Trading Broker

DUKASCOPY is an online Forex broker having headquarters at Switzerland and is regulated by FINMA. It offers both Forex as well as Binary Options trading to the customers concerned.

Apart from that, the broker offers extensive business to business department and provides partnership opportunities to the financial institutions, banking firms and client referral bonuses.

It was established way back in 2004 and with more than one decade of untarnished reputation, Dukascopy is known for its speedy trade executions and security of funds without any price manipulation.

Features

When you visit the official website of this Forex broker, you will be surprised where to look first as it offers myriad features and state of the art trade services to the customers.

Dukascopy also offers dozens of other features that include some different interviews with the financial figures, midday snapshot of markets, forecasting of industry and market and lots of other things.

In addition to above, the FX broker offers trade recommendations on different assets and currencies; a technical and timely analysis of a number of various articles to read about. On the website, there is an update where traders can get all the latest things happening at Dukascopy which might be of interest to the traders.

For the institutional and retail clients, the broker offers to trade in precious metals and currency pairs. It promises quotes and equal liquidity to all the clients. It provides all kinds of trading including scalping with different trade commissions on account size and monthly trade volume. All the deposits of the traders are secure as it is protected by the Swiss government to the tune of $100,000 per customer.

Dukascopy offers different account set up for the customers based on the amount of money deposited by them. There are four different accounts to choose from. The lowest account type starts with a minimum deposit of $100. Then the second one comes with $5,000 which is followed by $100,000, and finally, the first account type requires a deposit of $250,000.

All the trading instruments offered by Duksacopy are traded on 24 hours basis without any interruption. The Forex market opens on Sunday at 2100 GMT during Summer Times and at 2200 GMT during Winter Times.

It is interesting to note that the broker offers demo account for traders who are interested in Forex as well as Binary Options trading. For the Sharia law followers, the broker also provides an Islamic Account.

One unique feature of Dukascopy is there is minimum fuss involved in the account opening procedure. One just needs to scan and upload their passport, and they are ready to trade. Similarly, deposits up to $10,000 can be made by examining the passport.

Bonuses

There is a never-ending supply of bonuses and special promotions offered by Dukascopy. However, the rewards are subject to change from time to time because of a strict trade regulation on a global level. Since its inception, the broker has offered a series of opportunities for the customers from 10% to 100% bonuses, and traders are recommended to check out the official website for more information.

Live clients are recommended to share their trading experience on Duksacopy with their friends and acquaintances. If you refer a friend and s/he joins this broker, you will be eligible for 100% discount on future trade commissions until you reach $100. The commission amount will be credited to your trade account on a daily basis as soon as your referred friend commences trading.

Dukascopy offers a monthly competition amongst the traders where prizes to the tune of $16,000 can be won. Any trader who has been consistent with their trading for a given quarter will be awarded Signal Provider Grand Prix with prize money of $11,500.

There is a particular competition called Trader of the Year that pays $5,000 on a quarterly basis to the traders with highest monthly average profitability for a minimum period of 6 months. For the successful investors copying trades from best Signal Providers, there is a Social Trading Contest where $2,000 is given every month.

Apart from the unique promotions mentioned above, there are tons of other promotions offered by the broker. There is also a Miss Dukascopy Contest which is exclusively for the female traders where they can win a cash prize of $350,000. Until the time of writing this Dukascopy Review, the broker offers prize pool to the tune of $2 million through lucrative bonus and special promotions.

The Merger and Acquisition Strategy – Dukascopy TV

Education

The broker offers a series of different educational video tutorials to traders to learn about several aspects of trade platform like managing accounts, leverage etc. Live webinars are held on a regular basis across several languages.

There is a Dukascopy TV with 20 different stations with some excellent programs like Crash Dummy Dollar, Building Blocks, Market Glance etc. All the television shows are admired and appreciated by the viewers. The best part is that the Dukascopy TV can be accessed across several languages.

Trading Platforms

The trading platform of Dukascopy provides access to the Swiss Forex Marketplace or SWFX. All the different trading platforms offer numerous features to traders like IFD, OCO, Placing Bid/Offer, Trailing Stop, Stop Limit, Stop Loss, Take Profit, Stop, Limit and Market.

Hedging” and “Net Position” are the two trade modes available on the trading platform offered by the broker. Hedging allows the traders to keep different direction positions for the same trade instrument. “Net Position” shows all the orders for the same currency pair in one position.

Java Platform

This platform is specially designed for manual trading and has been organised in such a manner that all the essential trade info is available without needing to switch to multiple windows. Apart from that, traders will be provided with detailed technical analysis and a market research tool which is integrated with the trading platform and offers instant communication with the live supporting team.

JForex Platform

This trading platform is recommended for both manuals as well as automated trading. But it is designed for traders interested in automated trading to develop trade strategies. The overall interface and functionality of this platform are similar to that of Java platform.

There is also a popular MT4 platform available which is a 3rd party bridge for traders who are comfortable with this trading platform.

There is a web trading platform offered by Dukascopy that offers instant market access and works on mobile platforms like Android and other operating systems.

Web Binary Trader” is a trading platform specially designed for people interested in binary options trading. It comes with a series of features like predetermined payouts and risks with paid premium up to 90 percent. The account can be opened with a minimum deposit of $1 without any commission or hidden fees involved.

The one click trade is secure and offers access to unlimited accounts. The best part s that one can do the trading be merely talking over the telephone.

It is to be noted that Dukascopy does not offer direct access to the MT4 platform and the connectivity is offered through 3rd party providers.

Customer Support

Customer service is available within six business days in a week through telephone and email. “Chat Support” is available where customers can interact through Skype for placing international video calls. All the staff members are dedicated to their approach to problem-solving and offer the best experience to the customers.

Bottom Line

Because of the banking history of Dukascopy, the broker can provide a wide range of different features that other online Forex brokers are unable to provide. The broker is ideal for the newbie traders because it offers several new features with a thorough explanation.

At the same time, the experienced traders will be significantly benefitted using this broker because all the to information is available at a single place and that too in several languages.

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IC Markets