Dukascopy

Dukascopy broker is originally a Swiss bank founded in Geneva in 2004 by Andrej and Veronika Duka, which later added online trading services for forex, CFDs and binary options to its activities. Dukascopy is known among professional traders for its proprietary JForex platform and ECN connectivity. In this overview, Teagle's editorial team has reviewed Dukascopy's accounts, platforms, payments, licensing status and whether Iranians can use it, based on the recorded data.

What kind of broker is Dukascopy?

Dukascopy has about 22 years of history, is based in Switzerland and, according to its own description, operates as a bank and securities firm under the supervision of the Swiss Financial Market Supervisory Authority (FINMA). Its accounts offer trading in forex, metals, energy, commodities, indices, stocks, cryptocurrencies, ETFs and binary options. Scalping, hedging, news trading, phone trading and the use of expert advisors are allowed, and according to the tags recorded on Teagle, deposits are covered by deposit insurance.

Dukascopy broker licenses and credibility

In Dukascopy's profile and in the Teagle expert's answers, this company is described as a reputable bank under the direct supervision of FINMA that scores highly on review sources. However, no active license for this broker is currently entered in Teagle's list of recorded licenses. This data gap has pushed up Teagle's risk index for Dukascopy (explained below). We recommend checking the license status directly on the official website of the Swiss regulator. To learn how to do this check, read the article Broker regulation and how it is graded .

Does Dukascopy serve Iranians?

No. According to the Teagle expert, Dukascopy operates under strict Swiss federal laws and, because it must fully comply with international sanctions, does not provide any financial or trading services to users residing in Iran. Opening an account and depositing funds require thorough verification of identity and source of income, which effectively makes working with Iranian users impossible. The website requires an IP change from Iran and there is no Persian support; so despite its credibility and good trading conditions, this broker is not accessible to users inside Iran.

Dukascopy trading accounts

Dukascopy has two account types, both with floating spreads from 0.1 pips, maximum leverage of 1:200 and an Islamic version, and no requotes have been recorded:

• JForex account: minimum deposit of $100, commission of $3.5 per lot and a 50% stop-out, on the JForex platform.
• MT4/MT5 account: minimum deposit of $1000, commission of $1 per lot and a 100% stop-out, on MetaTrader 4 and 5.

Low spreads plus commission is the classic structure of ECN accounts. The 100% stop-out on the MetaTrader account is very strict; that is, as soon as equity equals used margin, positions are closed. Two other restrictions have also been recorded: withdrawal limits while holding open trades and heavy penalties for unauthorized group trading.

Dukascopy platforms and services

The proprietary JForex platform in desktop and mobile versions, along with MetaTrader 4 and 5, are Dukascopy's trading tools. Additional services include bonuses, education, copy trading, expert advisors and trading robots, a trading API, an economic calendar, a forex calculator and PAMM. The availability of the API and JForex makes this broker attractive for algorithmic and quantitative trading . If you are thinking about trading by following others, see the copy trading guide .

Deposits and withdrawals at Dukascopy

The minimum deposit for all methods is $100, and according to Teagle's data, deposits carry no fee with any method:

• Bank wire: processing in 1 to 2 business days.
• Credit card: processing by the next business day.
• E-wallets such as Neteller and Skrill.
• Cryptocurrencies: Bitcoin, Ethereum and Tether.

Withdrawal fees and times are not recorded in Teagle's data; check them with the broker before depositing.

Dukascopy's rating and risk on Teagle

Dukascopy's final rating on Teagle is 3.53 out of 5: WikiFX 4.085, Forex Peace Army 3.81 and Trustpilot 2.7; no reviews from Teagle users have been recorded yet. The Teagle Eye risk index for this broker is 65 out of 100, in the "high risk" category. The main reason for this figure is that no active license is recorded in Teagle's data under regulation and licensing, while its 22-year history and good credibility scores have brought the risk down. This index may change once the license information is completed, but until then, take it seriously.

Pros and cons of Dukascopy broker

• Pro: Swiss banking structure and deposit insurance
• Pro: very wide range of symbols and low spreads
• Pro: support for JForex, MetaTrader 4 and 5, and API
• Con: no services for Iran and no Persian language
• Con: withdrawal limits during open trades and penalties for unauthorized group trading
• Con: no active license recorded in Teagle's data and a high minimum deposit for the MetaTrader account

Who is Dukascopy suitable for?

According to the Teagle expert, Dukascopy is suitable for professional, algorithmic and international traders residing outside Iran for whom high security and ECN connectivity matter. It is not suitable for users residing in Iran or for beginners with little expertise or capital. If you are also considering another Swiss bank, see the Dukascopy vs Swissquote comparison . A review of the 2015 Swiss franc crisis also reminds you what can happen with high leverage and stop-out levels.

Summary

Dukascopy offers professional trading conditions and a banking structure, but it is not available to Iranians and its license data on Teagle is incomplete. If you are outside Iran, check the license status yourself, start with a small amount, make a test withdrawal with no open trades, and follow new warnings on the investment risk warning page .