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Dukascopy Review

Posted By Marcus Holland On Tuesday, April 16th, 2013 With 0 Comments

A Review of Dukascopy

Introduction

Dukascopy is a broker that offers access to the Foreign Exchange market via an ECN trading model. Created in 2004, Dukascopy is located in Geneva, Switzerland and it is regulated by the Swiss Ministry of Finance.

Dukascopy also runs a large forex support service, featuring technical and fundamental analyses as well as contests for traders and forex experts in technical analysis, trading, forex strategy and expert advisor performance.

Asset Index

The asset index on Dukascopy is as follows:

a) Commodities: Gold, Silver

b) Forex:

FX INSTRUMENT

SPREAD

AUD/CAD

3.8

AUD/CHF

4.1

AUD/JPY

2.3

AUD/NZD

4.0

AUD/SGD

3.6

AUD/USD

1.3

CAD/CHF

5.7

CAD/JPY

2.1

CHF/JPY

2.8

EUR/AUD

2.2

EUR/CAD

2.8

EUR/CHF

2.8

EUR/DKK

6.2

EUR/GBP

1.3

EUR/HKD

12.4

EUR/JPY

1.7

EUR/NOK

57.4

EUR/NZD

5.9

EUR/PLN

65.4

EUR/SEK

34.3

EUR/SGD

3.4

EUR/TRY

12.6

EUR/USD

0.3

GBP/AUD

3.9

GBP/CAD

4.2

GBP/CHF

3.2

GBP/JPY

2.7

GBP/NZD

5.7

GBP/USD

1.5

HKD/JPY

15.4

NZD/CAD

5.2

NZD/CHF

5.3

NZD/JPY

2.9

NZD/USD

2.5

SGD/JPY

2.5

USD/CAD

1.8

USD/CHF

1.7

USD/DKK

7.5

USD/HKD

1.2

USD/JPY

0.7

USD/MXN

32.6

USD/NOK

32.0

USD/PLN

48.4

USD/RUB

111.2

USD/SEK

21.7

USD/SGD

1.8

USD/TRY

14.4

USD/ZAR

150.4

XAG/USD

3.5

XAU/USD

36.5

Trading Platforms

The platforms available on Dukascopy include:

a) JForex – A platform that is adapted for both automated and chart trading. It has an API for strategies and indicator, built-in charts and a historical tester. It is also enabled to accept indicators and expert advisors.

b) Java – The platform that is best suited for manual trading. It includes a detailed monitoring interface with add-on technical analysis.

c) Web – This platform is made compatible with most web browsers, and it meets the needs of all traders by giving quick access.  It hosts market research tools, instant communication, a multi-lingual interface, and the functionality of order execution and position management.

d) Mobile trading platforms for the iPhone, iPad, Android devices, and smartphones in general, are also provided for.

Deposits and Withdrawals

The following methods are available to traders to make Deposits and withdrawals on Dukascopy:

a)      Bank Wire

b)      Credit Card/Debit Card

c)      Bank Guarantees

d)      Swiss Custodian Banking Services (Segregated Swiss Bank Account).

Minimum Deposit

The minimum deposit of an account with Dukascopy Europe is 100 USD, while the minimum deposit for an account with Dukascopy Bank SA is 5,000 USD. The minimum lot size is 1,000 units of the primary currency, which is equivalent to 1 micro-lot.

Maximum Deposit

There is no maximum lot size. There are also no withdrawal limits on Dukascopy.

Conditions for Deposits and Withdrawals

For credit/debit card deposits, the depositor’s card details (cardholder’s name) must match the name on the account on Dukascopy Bank SA. A maximum amount of 10,000 USD, 10,000 Swiss Francs, 8,000 EUR, or 7,000 GBP depending on the currency that is selected can be deposited.

Winnings from the various forex contests are usually deposited into a trader’s live account on Dukascopy SA.

All withdrawals on Dukascopy can only be made to the same method used in depositing into the account.

Customer Support

The customer support department on Dukascopy can be reached through any of the following means:

a)         Phone:  +41 (0) 22 799 48 48, +41 (0) 22 799 48 38 (24h). This is the access to the live trading support desk. These numbers can also be used to place Callback requests.

c)         Email: support@dukascopy.com or info@dukascopy.com.

d)         Phone: +41(0) 22 799 48 88 (general phone contact).

e)         Physical Address: Dukascopy Bank SA, Route de Pre-Bois 20 ICC, Entrance H, 1255 Geneva 15, Switzerland.

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