Dukascopy Review 2026

Dukascopy Bank SA is licensed and regulated by the Swiss Financial Market Supervisory Authority, FINMA. Dukascopy Group also has regulated entities serving the European Union and Japan. The legal entity shown in the account agreement determines the applicable rules and protections.

Eligible deposits at Dukascopy Bank are covered by the esisuisse scheme up to CHF 100,000 per client and institution. Multiple accounts are combined for this limit. Dukascopy Europe clients have separate protection of up to EUR 20,000 under the relevant European scheme.

Trading controls include slippage settings, stop-loss tools and real-time use-of-leverage monitoring. A margin call begins above 100% use of leverage. Dukascopy can reduce exposure at 200% or more. Its risk disclosure indicates that some retail clients have had to add funds after negative balances, so unconditional negative-balance protection should not be assumed.

Spreads

Spreads are floating. Dukascopy advertises EUR/USD spreads from 0.1 pips. Our weighted average spreads are about 0.37 pips for EUR/USD, 0.79 pips for GBP/USD, 0.80 pips for XAU/USD and 0.61 points for the S&P 500 CFD. Live prices vary with liquidity and volatility.

JForex Trading Commission

Commission depends on net deposits, equity or 30-day trading volume. At the entry tier, currency pairs cost $35 per $1 million traded. Commodities, indices, precious metals, crypto and bonds cost $52.50 per $1 million. The highest published tier reduces these rates to $5 and $7.50 respectively. Opening and closing trades are charged separately.

MetaTrader Commission

MT4 and MT5 apply the standard volume commission plus $0.50 per lot, equivalent to $5 per $1 million. MT4 normally charges the round-turn amount when the position opens. MT5 charges each side separately.

Overnight Swap Fees

Positions held through daily settlement receive an overnight adjustment based on the instrument and current rollover conditions. A multi-day adjustment can apply around the mid-week settlement. Swap-free accounts replace standard overnight interest with an additional commission of $5 per $1 million for currencies and $7.50 per $1 million for precious metals.

Currency Conversion Fees

General conversion fees fall from 1.00% below 10,000 base-currency units to 0.05% from 1,000,000 units. Intermediate tiers are 0.75%, 0.50%, 0.20% and 0.10%. Profit, loss and commission settlements in another currency use a separate 0.5% adjustment.

Account and Dormant Account Fees

The current schedule charges no standard fee for opening, closing or maintaining an ordinary trading account. Special cases are different. Remaining funds not withdrawn within 30 days after account closure can incur a CHF 50 monthly follow-up fee. A dormant-account penalty is listed at a minimum of CHF 500, capped at the account balance.

Deposit Methods

Funding methods include bank transfer, Visa, Mastercard, Maestro, Skrill, Neteller and Apple Pay. Crypto-fundable accounts can use Bitcoin, Ether and Tether. Funds must come from the verified account holder.

Bank transfers are free on Dukascopy's side. EEA cards cost 1.5% and non-EEA cards cost 2.5%. Apple Pay and Skrill cost 2.5%. Neteller costs EUR 1 or 2.5%. Supported crypto deposits are listed as free, excluding external blockchain costs.

Withdrawal Methods

Withdrawals are available by bank transfer, card, Skrill, Neteller and supported crypto assets. Apple Pay is not available for withdrawals. Examples of bank-transfer fees are CHF 2.30 through SIX, CHF 15 outside SIX, EUR 2.30 through SEPA, EUR 20 outside SEPA, $19 with SHA charges and $35 with OUR charges. Card withdrawals cost EUR 1.50 plus 2.5%, while supported crypto withdrawals cost $30.

Deposit Processing Time

Bank transfers normally arrive within one to two business days. Card funding is generally credited by the next business day after receipt. E-wallet and crypto timing depends on provider checks and transaction status.

Withdrawal Processing Time

Bank-transfer withdrawals generally take one to two business days to process, while card withdrawals are commonly handled in about one business day. Crypto withdrawals are processed on Geneva business days. Payment providers can add further time.

Forex Pairs

Forex trading uses ECN pricing with floating spreads and market depth. MT4 and MT5 list 108 currency pairs. JForex provides access to the broader SWFX trading environment.

Commodities

Gold and silver are available for trading with instrument-specific margin and rollover requirements. Trading costs combine a floating spread with the applicable volume-based commission.
Dukascopy offers CFDs on energy and agricultural products. Entry-tier commissions are typically 1.5 times the equivalent forex rate, while maximum leverage is the maximum leverage available for forex.

Indices

Index CFDs cover major global benchmarks. Trading hours, leverage and trading breaks follow the conditions of each underlying market.

Stocks and ETFs

JForex offers more than 1,500 stock and ETF CFDs, including long and short positions with leverage up to 1:10 on eligible products. A separate Stock Trading Platform provides more than 25,000 long-only stock and ETF CFDs with leverage capped at 1:1.

Bonds

Bond CFDs are available within the multi-asset account. Costs can include the spread, volume commission and overnight financing.

Cryptocurrencies

Crypto CFDs include markets such as Bitcoin and Ether. Crypto-fundable accounts can also receive and withdraw Bitcoin, Ether and Tether. Product-specific margin and trading-hour rules apply.

Trading Conditions

Leverage is set by instrument, account and jurisdiction. Eligible forex accounts can reach 1:200, while MT4 and MT5 commonly use a 1:100 maximum. Default weekend leverage is 1:50. Lower limits apply to stocks, ETFs, crypto products and other higher-risk markets.

JForex Desktop

JForex Desktop includes market depth, more than 250 indicators and analysis tools, multiple order types, tick data, strategy back-testing and automated-trading functions. It runs on Windows, macOS and Linux.

JForex Web

The web platform supports browser-based manual trading, chart analysis, position monitoring and account management without a local installation.

JForex Mobile

The iOS and Android apps provide price monitoring, charts and order and position management.

MetaTrader 4

MT4 supports forex, selected CFDs, MQL4 Expert Advisors, charting and back-testing. The additional MetaTrader commission applies.

MetaTrader 5

MT5 provides multi-asset functions, MQL5 Expert Advisors, additional order types and strategy-testing tools.

APIs and Automated Trading

The Java-based JForex API connects custom systems to Dukascopy's trade servers. The FIX 4.4 API is intended for professional market participants and commonly requires at least $100,000. FIX accounts are limited to forex and use net-position calculation.

Other Tools

Eligible live clients can use Social Signal Trading to copy selected contest participants. The separate Stock Trading Platform is accessed through JForex4 Desktop. Neither service removes the need for account-level risk controls.

JForex ECN Account

This account supports manual and automated multi-asset trading through the SWFX marketplace. It uses volume-based commissions and permits orders from 0.001 lot.

MT4 Account

The MT4 account covers forex and selected CFDs and supports MQL4. It adds $5 per $1 million to the standard volume commission.

MT5 Account

The MT5 account supports multi-asset trading and MQL5 tools. Commission is charged separately on both opening and closing a position.

Swap-Free Account

This account removes standard overnight interest and applies an additional volume commission instead.

Stock CFD Sub-account

This sub-account provides long-only access to the separate Stock Trading Platform. It is opened through the Client Cabinet and funded from a JForex account.

Opening Process

1. Complete the online application form.
2. Choose the account type and trading platform.
3. Review and accept the required agreements.
4. Upload proof of identity and proof of address.
5. Complete the video identification process. Dukascopy states that video identification can take around 15 minutes.
6. Wait for account approval. Additional compliance checks may extend the approval time.
7. Fund the account after approval.
8. Receive the login details and access the trading platform.

Live-trading support is available 24/7 through secure chat, telephone, email and a contact form. The main contact details are [email protected] and +41 22 555 0500. Chat responses are commonly expected within five to ten minutes; requested callbacks can take up to 24 hours.

Supported languages include English, French, German, Russian, Japanese, Chinese, Spanish, Italian, Portuguese, Polish, Czech, Slovak, Hungarian, Slovenian, Croatian, Serbian, Ukrainian, Arabic and Persian.

Research tools include market news, fundamental and technical analysis, stock analysis, charts, an economic calendar, sentiment data, average spreads, technical indicators and market summaries. Calculators cover margin, rollover, pip value, position size and currency conversion. Historical data can be downloaded for research and back-testing.

Dukascopy publishes analysis and trading ideas, but states that it does not provide instructions to enter specific trades. Clients remain responsible for their own decisions.

Dukascopy provides a broad range of educational resources designed to help both beginners and more experienced traders understand the financial markets and make better use of its trading platforms. The educational offering includes written articles, step-by-step tutorials, platform guides, an extensive online Wiki, webinars, video content, and a community support forum where users can explore trading-related topics and platform features. The materials cover core forex concepts, technical and fundamental analysis, order types, trading platform functionality, risk management, and the development and use of automated trading strategies. Traders can also use demo accounts to practice placing orders, test platform tools, and experiment with trading strategies using virtual funds before committing real capital. This combination of structured learning materials and practical testing tools makes the education section useful for users who want to build their market knowledge while becoming familiar with Dukascopy's trading environment.

Deposit Bonus

The 10% Equity Bonus is available to eligible self-directed accounts and can total up to $50,000. Application is required within 30 days of a deposit, with no withdrawal after that deposit. The required trading volume is 30,000 times total account equity and must be completed within one year. An early withdrawal cancels the bonus.

No-Deposit Bonus

No standard no-deposit trading bonus is offered. The Equity Bonus requires a funded account.

Welcome Bonus

There is no separate standard welcome bonus. New clients can use the Equity Bonus if they meet its deposit, application and trading-volume rules.

High-Volume Cashback

Commission cashback begins at 20% after monthly volume exceeds $500 million. It rises to 40%, 60% and 80% above $1 billion, $1.5 billion and $2 billion.

Affiliate Program

The Business Introducer Program can pay approved partners up to 50% of the trading-volume commission generated by referred forex and CFD clients. Partners apply for a BI-ID and referral link. Approval normally takes up to seven days.

Dukascopy is not a simple, low-maintenance trading account. Its suitability depends on how often the client trades, which platform is used and whether tools such as market depth, strategy automation or API access are necessary. Active and algorithmic traders are more likely to make practical use of the account structure, while occasional traders may find the commission tiers and non-trading charges difficult to justify.

The decision should be based on the total cost of trading under the relevant Dukascopy entity. Live spreads, volume commissions, rollover, currency conversion and funding charges matter more than the maximum leverage or $100 minimum deposit. The account is a reasonable option when its execution model and tools match a defined trading method; otherwise, a broker with simpler pricing may be easier to evaluate and manage.