Dukascopy - Forex Broker Review

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The aptly named Dukascopy’s had a main mission statement when they launched way back in 1999 and it was to research, develop and implement a top notch and highly advanced financial system. Needless to say they reached that goal and down the track in the year 2004 became a brokerage house and later down the track, in 2006, launched the SWFX, which stands for Swiss Forex Marketplace.

This broker is regulated by ARIF, which is a self-regulatory organization. They are based in Switzerland concentrate solely on inter-bank Forex liquidity, thus making them a true ECN broker.

Being a Swiss-based broker,they are subject to one of the world’s toughest and cut-throat regulations. This kind of quality assurance means there are reciprocal advantages: better services for us traders and more profits for them.

What’s on offer?

As a client you will be exposed to the following:

• A marketplace technology reducing your exposure to risk
• High liquidity and real time price
• Minimum margin requirement (during settlement time)
• Very tight spread 0-1 pips
• Highly accurate execution platform, best suited if you are a professional trader
• Funding your account via money transfer, standby letter of credit or via segregated accounts with Swiss private banks
• Professional Back Office with reports & Statements
• 24/6 hour trade desk service available to you
• Market news provided by Dukascopy TV
• And the ability for you to merge several positions into one.

Pros

• They provide a state of the art and very advanced trading platform
• Amazingly low spreads
• Security: they are very reputable and respected company.

Cons:

• They require a high minimum account size
• They do not provide with a mini Forex account
• Like most ECN brokers, the process of opening an account may be a little complicated.

Dukascopy, I believe and I say so with a devil’s advocate approach, do not have major issues. They are highly respected in the Forex world and a lot of professional traders use them as their broker of choice. They reflect integrity and transparency, which they convey to all their clients making them highly acclaimed.

If it’s within your capacity to invest $50,000 and if you are looking for a stable and secure broker, I would personally recommend them. They are by far the best brokers you will come across in the unregulated world of Forex trading. Since they are so heavily regulated they have no room for failure and not exceeding client expectations.

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