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Dukascopy Bank SA is a Swiss online bank founded in 2004 in Geneva by Andre and Veronika Duka. The company provides forex trading, CFD trading, binary options, multi-currency accounts, and banking services, regulated by the Swiss Financial Market Supervisory Authority (FINMA).
Written by Traderforum research from official Dukascopy Bank documentation and source-checked pages. This editorial analysis is independent of member reviews and does not affect stars, review counts or community rank.
Dukascopy Bank SA is a Swiss-regulated forex and CFD broker established in November 2004 in Geneva, Switzerland, and remains majority-owned (99%) by its founders, André and Veronika Duka. Licensed as both a bank and securities firm by FINMA (Swiss Financial Market Supervisory Authority), the company operates internationally with subsidiary entities in Europe (Dukascopy Europe IBS AS, based in Riga) and Japan (Type-1 licensed). It serves both retail and professional traders with forex, commodities, indices, cryptocurrencies, and structured products. With over two decades of market presence and genuine banking credentials—uncommon in retail forex—Dukascopy positions itself at the premium end of the market, emphasising Swiss compliance standards, institutional-grade execution, and transparent fee structures rather than mass-market accessibility. Its business model emphasises custody and banking services alongside trading execution.
Dukascopy provides multiple trading platforms addressing diverse trader needs. Its proprietary JForex platform offers advanced functionality including automated trading via the Strategies Builder, native slippage control to limit execution slippage, and Place BID/Place OFFER orders. MetaTrader 4 and MetaTrader 5 are available for clients preferring industry-standard interfaces with familiar technical analysis tools. Web, iOS, and Android applications ensure cross-device access with hedging support on web platform. Charting tools include technical analysis indicators and real-time market data. The Marketwatch section provides trading ideas, market news aggregation, economic calendars, and currency conversion calculators. JStore permits access to third-party trading strategies. API access is available through both proprietary JForex API and industry-standard FIX API for professional traders and algorithmic strategies. One-click order placement and trailing stop orders enhance trading efficiency.
Dukascopy operates on a volume-based commission model rather than spread-plus-commission. For self-traders on JForex, commissions are tiered by net deposit and monthly traded volume: USD 35 per 1 million USD traded (currency pairs) for accounts under USD 5,000; declining to USD 5 per 1 million USD for accounts exceeding USD 3 million equity. MetaTrader clients face similar structures (USD 8–USD 3.8 per million for currencies, depending on tier). Swap-free accounts incur additional charges (USD 5 per 1 million USD for currencies; USD 7.50 for metals). Commissions convert to account base currency at spot rates plus 0.5% fee. Bank transfer withdrawals cost CHF 2.30 (SEPA/SIX) to EUR 20 (non-SEPA), varying by currency and rail. Dormant account fees apply after 180 consecutive inactive days. Currency conversion incurs 0.5% fee. Account opening is free; minimum deposit requirement is USD 100 or equivalent.
Dukascopy Bank holds dual regulation as both a Swiss bank and securities firm under FINMA, placing it among the most stringently regulated retail forex brokers globally. Client cash deposits are protected under Swiss deposit insurance up to CHF 100,000 per client per institution via esisuisse. Dukascopy Europe (Latvia subsidiary) clients receive EUR 20,000 protection under EU regulatory schemes. Beyond insurance, the firm maintains exceptional financial strength: over 90% of company assets are held in sight cash and Swiss government bonds, with zero exposure to risky securities or real estate. Negative balance protection is offered to retail clients, preventing accounts from falling below zero on certain conditions. Slippage control functionality allows traders to limit execution price slippage. The company has maintained stable ownership and regulatory standing since 2004 with no major incidents, account closures, or regulatory breaches.
Account opening is straightforward and free; no deposit is required to register, though a minimum deposit of USD 100 is required to commence live trading. KYC procedures are robust and thorough, reflecting Swiss banking compliance standards: applicants must provide verified personal identification, proof of address, and supporting financial documentation detailing income/employment. Processing typically takes 1–3 business days. Accepted deposit methods include bank transfers (free via SEPA in Euro; CHF 2.30 via SIX; fee-based in other currencies), debit/credit cards (1.5% + 2.5% fee), and cryptocurrency deposits (Bitcoin, Ethereum, Tether, Dukascoin). Withdrawal processing depends on method: bank transfers typically settle within 1–3 business days. Multi-currency accounts are supported with modest annual fees. Base currencies available include USD, EUR, CHF, GBP, AUD, CAD, JPY, and others. The firm restricts deposit and withdrawal limits based on account verification level and trading history, a practice reviewers have noted creates friction for larger transactions.
Dukascopy provides 24-hour live trading support accessible via phone (+41 22 534 9048), live chat, email contact forms, and callback request functionality. General client support is also available 24/7. Educational resources include the Marketwatch blog with trading guides, strategy articles, market analysis, and economic commentary; the Wiki hosts technical documentation for platform features. Community reviews reveal mixed sentiment. Trustpilot (2.5/5 across 805 reviews) and Forex Peace Army (3.8/5 across 215 reviews) both identify recurring themes: traders praise Swiss banking credibility and platform stability, while criticising slow response times from support teams, especially for non-trading queries. Common frustrations centre on restrictive deposit/withdrawal limits and complex KYC requirements. Support responsiveness appears to vary depending on account size and client tier, with larger accounts receiving priority attention.
Dukascopy is best suited for serious traders prioritising Swiss banking credentials, genuine regulatory oversight, and institutional-grade execution over low cost and rapid support. Its unique positioning as a bank (not merely a broker) provides regulatory depth and financial security uncommon in retail forex. The tiered commission structure significantly rewards traders with larger accounts and monthly volumes exceeding USD 25–50 million. Prospective clients must accept slower support responsiveness, restrictive withdrawal/deposit limits during onboarding, and higher absolute fees on small accounts. It is unsuitable for cost-minimalist scalpers, traders requiring immediate human support escalation, or those unwilling to provide extensive KYC documentation. The broker maintains a solid professional reputation and financial stability, but demands commitment to thorough onboarding and acceptance of Swiss banking's deliberate compliance standards. Recommended for EU/Swiss residents specifically.
Source-attributed product facts checked 2026-08-01. Terms can vary by legal entity, account type and client jurisdiction; verify the linked official documents before opening an account.
ECN model with spreads from 0.1 pips. Commission refund for high-volume traders. Inactivity fee: minimum 500 CHF every 6 months. Withdrawal fees vary by method.
Swiss Bankers Association member, FINMA regulated
Share specific facts about deposits, execution, withdrawals, fees and support.
Aggregates and recurring themes are paraphrased from the linked public source. They are not Traderforum member reviews and do not control the community ranking.
Checked 2026-08-01
No formal complaints on record.