Dukascopy Europe Review, Ratings, Pros and Cons

Dukascopy Europe review. All about EU licensed Forex broker offering ECN trading execution with 0.5-1 pip EUR/USD spread.

Dukascopy Europe Review
Dukascopy Europe IBS AS is an EU licensed investment brokerage company registered in the European Union, which is 100% owned by the Swiss Forex bank Dukascopy Bank SA. The European Union passport allows Dukascopy Europe IBS AS to provide investment services to both private and institutional clients in all 27 European Union countries. Dukascopy Europe is situated in Riga, Latvia and is regulated by FKTK. Dukascopy Europe was established in 2011.

Markets Covered

Dukascopy Europe offers access to the Swiss Foreign Exchange Marketplace. This market provides the largest pool of ECN spot Forex liquidity available for banks, hedge funds, other institutions, and professional traders.

By combining access to the Swiss Foreign Exchange Marketplace with an enhanced trading platform and strong financial services via its banking partnerships, Dukascopy Europe and SWFX Swiss FX Marketplace continues to set the global industry-standard for ECN Forex trading.

The Swiss Foreign Exchange Marketplace (SWFX) is the technological solution for Forex trading utilizing a centralized-decentralised marketplace model. Its successful launch is the result of close cooperation with selected banks, other institutions, Forex marketplaces, and providers of technological solutions.

The SWFX Marketplace allows trading between market participants in a centralized-decentralised environment. In this exchange, both buy-side and sell-side participants interact on an equal footing.

The Dukascopy Europe trading platform provides an array of tools for risk management and control over order execution. Clients may trade billions of dollars in a secure ‘one-click’ trading environment.

Accounts and Conditions

Dukascopy Europe offers trading of currencies and precious metals to private individuals and institutional clients. Accounts can be opened in eight different currencies – USD, CHF, EUR, GBP, JPY, CAD, AUD and PLN.

The Dukascopy Europe Forex trading service is optimized for professional trading activity. Deposit size is variable depending on the client profile. The minimum size of an initial deposit is 100 USD or equivalent currencies.

Dukascopy Europe operates an Equal Trading Rights policy Prices, liquidity and spreads are equal for all clients. Depending on the account size and monthly traded volume, different trading commissions and overnights are applied. Dukascopy Europe accepts all types of trading (including news trading and scalping etc.).

External Manager
Dukascopy Europe offers a sophisticated reporting and wide range of risk management tools. This technology allows for the integration of an unlimited number of accounts – trade for all accounts with one click. This is the perfect solution for money managers or hedge funds to offer more transparency for their clients.

Benefits:

  • Trading on client’s multi-currency accounts from one master account;
  • Immediate and automated trade allocation;
  • Individual client’s stop loss level (equity protection);
  • Accounts activation/deactivation done by client’s directly online;
  • Full transparency on reports;
  • Interactive functionality to accept/refuse new managed clients;
  • Possibility to add/remove funds without interrupting trading;
  • Performance fee calculation functionality.

Opening an Account

In order to open an account with Dukascopy Europe, it is necessary to complete the online registration via the Dukascopy Europe website www.dukascopy.eu, after which the client receives an automatic e-mail containing the documents s/he needs to sign and post to us (Trading Agreement, Request for the Opening the Account, Customer Bank Account Details, etc.). Along with the contract, clients need to provide a copy of their national ID or Passport (for investments above 1000 EUR, the copy needs to be certified) with a clear visible signature and photo and any kind of utility bill showing the client’s proof of residential address (not older than 3 month). Clients can find more information and step by step instruction on our website.

The documents need to be sent by airmail or courier. Once received our compliance department will review the documentation and if everything is in order the account is approved. Once approved the client receives the transfer instructions by e-mail to be able to credit the account. Once the transfer arrives, the client receives the login data and can start trading live with Dukascopy Europe.

Some useful guidelines the client needs to follow while preparing the documentation:

  1. The contract needs to be dully signed (no corrections should be made to the contract once it is printed, but it is possible to correct or change the information in the pdf file before printing) with place and date where requested.
  2. Clients investing 1000 EUR (or equivalent currency) or more need to provide a certified (certification in original) copy of their passport or national ID (with clear visible signature and photo).
  3. Clients need to provide any kind of utility bill showing the proof of their residential address (not older than 3 months). Bank statements are also accepted.
  4. We have to comply with the anti-money laundering law in Switzerland; therefore the clients need to provide clear information on where the funds come from and how they were earned.

Money Handling

Dukascopy Europe offers several ways for funding clients’ trading accounts, including Bank Guarantees, Credit/Debit Card funding, and Bank Transfers.

The funds are deposited in the account Dukascopy Europe has in Dukascopy Bank and can come from and be credited to any bank account registered under the same name as the registered trading account in Dukascopy Europe. Each client is guaranteed with the amount of up to 90% of the investment and up to 20,000 EUR.

For higher investments, clients might decide to keep their funds with their trusted bank in order to access them immediately when required. The Bank Guarantee solution provides great flexibility and efficiency to Dukascopy Europe’s clients and can be issued for several accounts, provided they are under the same name for which the Bank Guarantee is issued.

Benefits:

  • Guarantees for an account are accepted from a minimum investment of 100.000 US dollars.
  • At least 20% of the deposit must be funded with Dukascopy Europe.
  • The minimum duration of a Bank Guarantee is 6 months.
  • Only Swiss and European banks can be accepted.

Trading Platforms

Dukascopy Europe offers four different trading solutions allowing clients to trade from anywhere. The platforms are designed to deliver the ability to act and react quickly under different market situations. Panes are organized in such a way that users can easily monitor the market, current exposure, manage their orders and positions, and follow the evolution of their equity, leverage, and performance. All platforms support a wide range of trading orders, such as: Market, Limit, Stop, Take Profit, Stop Loss, Stop Limit, Trailing Stop, Place Bid/Offer, OCO, IFD etc. The ‘Slippage Control’ functionality, allows one to control the maximum price slippage on execution.

Trading Platforms
Java Optimized for Manual Trading Detailed Monitoring Interface Add-on Technical Analysis
JForex Optimized for Auto Trading & Chart Trading API for Strategies and Indicators Historical tester – Built in Charts
iPhone Access Anywhere Live, Secure connection with server Integrating Dukascopy TV and other products
Web Optimized for quick access Low Technical requirements Multiple Language Interface
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To the Top of Dukascopy Europe Review

Features

In the table below you can find some of the most important features of different trading platforms:

Dukascopy Europe Trading Technology Features

Tools and Research – Dukascopy Europe Review

Different Operating Systems Support: The automated strategies and manual trading can be executed in any operating system (Windows, Linux, Mac, etc.).

Automated Strategy Visualization: Execution of strategies can be visualized during real-time trading and historic back testing on the Jforex platform.

Automated Strategies Based on Multiple Currency Pairs: Traders can develop their strategies based on multiple currency pairs. They can also run a historical back test for the selected multiple pairs within one trading strategy.

Historic Back Tests Using Real Tick Data: In contrast with other automated FX solutions providers in which test results are not usually very accurate due to the use of data interpolation instead of the real tick data, JForex offers real tick data for a historical back test.

Up to 180 Trading Indicators: Up to 180 trading indicators are implemented into JForex, all of them are available to automated FX strategies.

Java IDEs (Integrated Development Environment) Support: Jforex professional traders can take full advantage of the different Java IDEs (Integrated Development Environment) available for JForex strategies implementation.

Merge: If clients have two positions (long and short) for the same instrument, they may use the “Merge” function. No volume commission will be charged for merging positions as there is no trade involved.

Equity Protection for SelfTraders: Self-traders can set up a stop loss level on their equity. This functionality allows traders to protect themselves against any uncontrolled scenario.

Equity Protection for Managed Clients: External Managers can offer extra protection to their clients via a capital protection (Stop loss) feature, which involves each client upon account activation. Managed clients can set up an equity protection level (Stop loss) during account activation. This unique feature provides clients with more control over their own accounts while the maximum risk assumed is set.

Education

Clients can learn about the JForex platform on our JForex Wiki, a Wikipedia containing all the basic information and updated facts regarding the platform. Besides, our platform is fully programmable since it is Java based. Clients can get the assistance with how to program in Java by posting a request on our JForex Forum. To follow the latest developments and market information, we have a special sector on the website and a new special tool called Forex Spider. Besides, we are organizing seminars and each month a very particular event called, The Geneva Forex Event where clients or interested parties can talk business in a relaxed environment. We are also organizing webinars in several languages on a weekly basis.

Each client is assigned a personal Account Manager who is at his disposal every business day from 8 – 17 GMT and will guide her/him through the registration process and assist with all the issues connected to the business relation in Dukascopy Europe.

Support

Dukascopy Europe provides a 24/6 Live Support trading desk should clients require any assistance or even to trade over the phone. Live clients can contact the risk managers via phone, mail or through a special tool directly from the platform – Broker Chat.

Clients can also contact Dukascopy team at any time the market is open via Skype: Dukascopy.europe.

Promotions, Challenges and Bonuses

Dukascopy Europe offers a possibility to register as Business Introducer, inviting clients to join the group, register the account and as reward receive half of its commissions.

Miscellaneous

Dukascopy Europe offers Free online web TV with up-to-date news from financial world.

Watch Live Dukascopy TV Now

Pros and Cons – Dukascopy Europe Review

Principle
Dukascopy Europe offers a unique and transparent solution for currency trading that is based on two fundamental principles. These two values are at the core of the ECN marketplace technology

Equal Trading Rights
All clients have equal possibilities to provide and consume liquidity within the ECN – Marketplace.

Transparent Pricing Environment
All clients have access to the same liquidity. Each and every client has the same data-feed.
This ECN – Marketplace represents the advanced generation of liquidity aggregator in the industry. Whilst creating its unique trading environment, Dukascopy Europe has developed the following functions.

Execution
Dukascopy Europe has advanced technology to instantly hedge any client’s trades directly with other liquidity providers. Dukascopy Europe is currently connected to the following providers: Bank of America, Commerzbank, Nomura, Barclays, Currenex, German Bank, JP Morgan, UBS, Goldman Sachs, Citibank, BNP Paribas, HSBC Bank, HotspotFXI, EBS, Lava – FX All, Morgan Stanley, and other liquidity providers. All orders are usually executed in milliseconds.

Low Spreads
Dukascopy Europe has integrated liquidity from the world’s leading foreign exchange banks and ECNs. Due to the cooperation with these banks and providers, Dukascopy Europe offers the deepest course of liquidity in the industry resulting in tight spreads. Open an real account or demo account now…

2 Responses to Dukascopy Europe Review, Ratings, Pros and Cons

  1. gdolenc October 16, 2015 at 10:36 am #

    Did you know that Dukascopy Europe is offering trading with Binary Options as well? Find more info here: https://www.dukascopy.com/?ibref=7919&url=/land/binary2/

  2. Benjamin Ward October 11, 2012 at 9:17 am #

    Carrying out currency trading with Dukascopy Europe is easy and sophisticated. The feature that appeals to me the most is that there is full transparency on reports and moreover everything can be handled online from account activation/deactivation to automatic trade allocations. With most brokerage companies trading activities gets interrupted while we add or remove funds. But I’m glad that with Dukascopy no such problem arises.

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