Dukascopy is a sophisticated Swiss trading level online broker with its head office in Geneva. It comes with a legal license to operate inside the Swiss FX marketplace. Being a chief broker for the first decentralized Swiss Forex (SwFx) marketplace, it integrates liquidity of not only the centralized marketplace but also the global FX marketplace. At times the daily network traffic exceeds $80 billion USD.
Dukascopy is installed mainly for huge organizations but individuals can also sign up. Dukascopy is chaired by physicist Dr. Andre Duka. The company’s detailed profile can be found on its website.
Dukascopy is completely governed by two of the national regulative organizations, ARIF and FFA for financial negotiations. ARIF is a self governed body carrying the aim of making an application along with the members to abide by rules set to avoid money laundering. The licenses issued and the map of address can be found on Dukascopy’s official website.
As Dukascopy is designed to cater the ‘big’ clientele so its tutorials etc. are not available to beginners. Nevertheless the trading support line for customers is available 24/7.
Dukascopy is not a state of the art application, but it uses systems proven on 2002-3 platforms. So some find it as the best platform out there and yet others think it has its shortcomings.
Dukascopy is known for offering the best spreads in the FX market with rates exceeding those of competing forex brokers on average.We can read this at Dukascopy review . The entry level of Dukscopy starts with a minimum investment of $5,000 which is eventually is returned in the deposit of $50,000 after which the project ends. This initial investment is generally not feasible for individual traders. It even goes above certain brokers like eToro but is still affordable for big pocket clients. The demo accounts are however open to all traders.
For clients who can afford to open account and make the deposit minimally required, Dukscopy is available in several languages like English, Russian, Spanish, French, Chinese, Japanese and Arabic. The required documents can be downloaded from their website.
Due of the high liquidity produced by its’ interested players the spreads as low as 0.5 pip can be achieved on the chief currencies. The highest threshold for leverage is 1:100 and it generally goes low to 1:30 on Fridays at 1 pm EST.
Setting up a demo account on Dukascopy is simple yet there is a elaborate PDF tutorial uploaded too. Either of the platforms can be chosen; web-based or Java software. The point to actually consider is that with a good ECN broker having several liquidity suppliers can help you sign up for the lowest spreads alongside the top order fills.
Dukascopy offers a lot of competitions. See one of them in this video: