Ducascopy is one of the most reliable and secure brokers out there. Dukascopy Europe is a European subsidiary of Dukascopy Bank of Switzerland. It is a heavily regulated broker and secured by governmental regulations up to 20’000 EUR per customer. Ducascopy Europe is one of the safest places to trade and also provides the lowest spreads and highest liquidity.
Ducascopy Europe is an ECN broker meaning that the trades are executed instantly (STP or straight-through-processing) and without any manipulations of quotes or stops.
Trades are processed in milliseconds and sent directly to the large liquidity providers (Bank Of America, Barclays, Deutsche Bank, JP Morgan and many more) anonymously without any conflicts of interest.
The integration of these multiple finance institutions creates high level of liquidity for ducascopy traders allowing them to open trades to up to 2’000’000 USD reducing risk of slippages and unfulfilled orders (of course the bigger the trade the bigger risk for slippage).
This level of liquidity also allows to maintain very low spreads.
Many experienced traders acknowledge that Ducascopy is one of the most accessible and suitable true ECN brokers for novice and beginner traders with its low minimum deposits ($100) and fair commissions.
Ducascopy has multiple trading platforms for all operating systems (Mac, Windows, Linux, etc), and mobile devices. The flagship is their custom made JForex platform which is known for its reliability and vast array of features. Some of the nice features of JForex are that you can visualize and test custom and automatic strategies both in real time and for historical events. You can also control the slippage and use more than 180 indicators. This platform requires a bit more time to get used to for beginners but it is worth mastering if you are interested in long term trading and becoming a serious trader.
As Ducascopy is not a market maker who is aggressively trading against its customers / making money from clients losses – it has commissions based on the trading amounts. The commissions are quite fair ranging from 10 USD to 35 USD for 1 million USD traded.
Detailed rating
Key figures
Founded: 1998 (Ducascopy Bank SA) and 2011 (Ducascopy Europe IBS SA)
Headquarters: Riga, Latvia (Europe)
Regulated by: FINMA (Swiss Financial Markets Authority), MiFID.
Minimum Deposit: $100
EUR/USD average spread: variable ~1.0 pip
Maximum Leverage: up to 1:300 (1:100 by default) During the weekends the leverage is reduced to 1:90.
Platforms: MetaTrader4, Dukascopy Web Trader, Dukascopy Java Trader, JForex, iPad, iPhone, Android.
Money Withdrawal: 4-7 working days
Commissions: Volume fees depending on deposit size, Overnight fees.
Payment options: Credit, Debit Cards, Wire Transfers and Bank Guarantees
Withdrawal options: Bank Wire.
Contacts: [email protected], +371 67 399 000, Skype: ducascopy
Pros
High security – deposits of the clients of Dukascopy are protected by governmental regulation (EU, Swiss) in the amount of EUR 20 000 for each client who is depositing at least $1000
Micro accounts – ECN accounts from $100
Safety of funds – additional safety from the fact that Ducas is a Forex Bank
Low spreads – thanks to integration with the worlds leading forex banks
High liquidity – ensures that most of the trades will be executed at desired prices. Ducascopy clients can trade up to 200 Million USD per trade.
All types of trading allowed – news trading, scalping, hedging etc. No stop and order limitations.
Instant order execution – all trades executed in milliseconds through Swiss Foreign Exchange Marketplace.
No rate and execution manipulations, stop huntings etc. – Ducascopy is a serious ECN broker with consistent income sources and is interested that their clients make profits as frequently as possible.
Excellent stability – a well known and reliable platform
Strategy back-testing – multicharts can be integrated in their system so strategy back testing can be implemented precisely.
Professional info resources – Advanced and up-to-date analytics and market news
Equal benefits to all – equal liquidity and currency rates for all clients
Cons
Takes some time for beginners to get used to.
No Paypal or Moneybookers payments which is understandable for such a serious broker.
Slightly longer registration process than with other brokers, but that’s for the safety of everyone.
Trading commissions charged (from 10 USD / 1million USD deposit). But they are very adequate and the low spreads and zero manipulation possibilities fully compensate the fees.
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