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Rating Index

Pros

Well-regulated by multiple authorities, including FINMA, ensuring a high level of security for clients.

Offers competitive trading conditions with tight spreads and low commissions, particularly appealing for cost-conscious traders.

Provides access to advanced trading platforms like JForex and MetaTrader 4, catering to both manual and automated trading strategies.

Cons

Higher minimum deposit requirements for certain account types, which may not be suitable for beginner traders.

Limited educational resources, making it challenging for novice traders to learn and develop their skills effectively.

Withdrawal fees and processing times can be higher than average, potentially causing delays in accessing funds.

Dukascopy broker Accounts

Dukascopy Account Types

Dukascopy offers a variety of account types to cater to different trading needs. The primary account types include:

Forex/CFD ECN Account

Minimum Deposit: $100 (for European clients) or $1,000 (for Swiss clients)
Commission Structure: Varies based on deposit amount and trading volume
Leverage: Up to 1:200
Spreads: Starting from 0.1 pips
Trading Platforms: MT4, JForex
Islamic Account: Available

Forex MT4 Account

Minimum Deposit: $100
Commission Structure: Lower commissions starting at $8 per round lot for currencies
Leverage: Up to 1:100
Spreads: Starting from 0.1 pips
Trading Platforms: MT4 only
Islamic Account: Available

Gold Account

Type: Non-deliverable gold accounts (XAU)
Features: Acts as an alternative to purchasing physical gold

Managed Account

Type: Allows clients to appoint a trader to manage their account
Features: Advanced PAMM environment, professional reporting

Demo Account

Type: Free demo account for practice
Duration: Active for 14 days, extendable upon request

Dukascopy Broker Account Opening Process

Opening a Dukascopy account involves several steps:

Registration

Fill out the online registration form with your personal information (name, email, phone number).
Choose your preferred account type and planned deposit amount.

Documentation

Submit a government-issued ID and proof of residency (a recent utility bill).
For corporate accounts, additional documentation such as the certificate of incorporation and corporate resolutions is required.

Video Verification

Participate in a mandatory video call to verify your identity.

Funding Your Account

Once your account is verified, you will receive instructions to fund your account via various methods (bank transfer, credit/debit card, cryptocurrencies).

Trading

After funding, download the trading platform of your choice and start trading.

Note: The minimum deposit to open an account is $100, and Dukascopy does not accept clients from certain restricted countries, including the US, UK, and Canada.