Dukascopy is a Swiss broker founded in 2004 that has long positioned itself as an institutional-grade venue for traders who prioritize transparency, direct market access, and strict oversight. Headquartered in Geneva and operating with a banking profile, Dukascopy stands apart from most retail-focused competitors by emphasizing infrastructure and regulation rather than promotional features. For Asian traders who value capital safety and execution quality over bonuses or simplified “one-click” experiences, Dukascopy’s proposition is simple and serious: real ECN-style pricing, clear commissions, and a tightly controlled operating environment.
Between 60 to 80% of retail CFD accounts lose money.
| Regulators | FINMA FCMC JFSA |
|---|---|
| Minimum Deposit | $100 |
| Leverage | Between 1:10 and 1:200 | Payment Methods | Bank Transfer Visa Mastercard Neteller Skrill Cryptocurrencies |
At first glance, Dukascopy does not try to be everything for everyone. It is not a broker designed around social trading, exotic product bundles, or aggressive onboarding funnels. Instead, it looks and feels like a professional service built for people who already understand how execution and pricing interact. This matters in Asia because more traders are comparing brokers through measurable variables—fill quality, spread behavior during volatility, funding safety, and platform tooling—rather than marketing promises.
The core of Dukascopy’s identity is its ECN model. The broker enables access to interbank spreads with fixed commissions, aiming to provide direct market pricing without broker intervention. This approach tends to appeal to disciplined traders and professionals who want predictable cost structures and execution that behaves consistently across sessions. Dukascopy also offers multiple platform pathways—its proprietary JForex, plus MetaTrader 4 and MetaTrader 5—so traders can choose between an institutional-style ecosystem or familiar retail workflows.
Finally, while Dukascopy offers broad CFD market coverage across major asset classes, it remains a derivatives-only broker. There are no real shares or real ETFs, only CFD exposure. For Asian traders whose strategies focus on active trading and macro-driven positioning, that can be sufficient. For long-term investors seeking ownership, it is a clear structural limitation—one that should be understood before opening an account.
Regulation
Dukascopy operates under a multi-jurisdiction regulatory structure that is stronger than the typical retail broker baseline. The broker is regulated by FINMA (Switzerland), and it also holds regulation under FCMC (Latvia) and JFSA (Japan). This regulatory mix is meaningful, particularly because Swiss oversight is generally associated with high standards for financial conduct, client fund handling, and institutional accountability.
- Switzerland — Swiss Financial Market Supervisory Authority (FINMA)
- Latvia — Financial and Capital Market Commission (FCMC)
- Japan — Japan Financial Services Authority (JFSA)
FINMA regulation is the defining element here. For Asian traders, a Swiss-regulated, bank-linked structure typically signals a stronger safety posture than offshore-only brokers. Oversight in Switzerland tends to be associated with strict expectations around operational discipline, governance, and the way client funds are managed. While every trader should still evaluate entity selection, onboarding jurisdiction, and the specific account conditions offered to their region, Dukascopy’s regulatory profile is a clear differentiator in a market crowded with lightly supervised alternatives.
The additional presence of Japanese regulation (JFSA) is also notable for Asian traders, as Japan historically enforces strict standards in retail trading. This does not automatically mean identical conditions for every trader globally, but it does reinforce that Dukascopy operates under demanding regulatory expectations in key jurisdictions.
Opening an Account — Our Experience
Opening an account with Dukascopy is a structured and compliance-forward process. Registration is digital, but it is not “instant sign-up” in the way some marketing-driven brokers present it. Identity verification follows standard KYC and AML procedures, including document submission and validation. In practice, this approach feels aligned with the broker’s institutional positioning: less frictionless entertainment, more financial-account seriousness.
The minimum deposit is $100, which is accessible but still functions as a modest filter toward traders who intend to operate with real market conditions. Funding options include bank transfers, Visa and Mastercard, Neteller, Skrill, and cryptocurrency deposits in certain cases. This mix is useful for Asian traders, especially those who prefer card-based funding or e-wallet transfers for operational efficiency. Withdrawal processing follows the same identity and funding route logic, consistent with AML controls.
Overall, the onboarding experience communicates the same message as the broker’s trading model: security and procedural clarity first, convenience second. For Asian traders who care about counterparty risk, that trade-off is usually acceptable.
Account Types
Dukascopy offers three main account pathways built around execution style and platform preference rather than marketing-based tiers. The core structure includes an ECN account and account access via MT4 and MT5. All of these are accessible starting from a $100 minimum deposit, with maximum leverage up to 1:200.
The defining distinction is cost structure and workflow. Dukascopy’s ECN model is designed around interbank spreads with fixed commissions. This is often preferred by active traders who want raw pricing and who can evaluate commissions as a predictable cost component. The MT4 and MT5 pathways provide familiarity for traders who already run MetaTrader-based routines, but Dukascopy’s broader identity still leans toward the ECN/JForex professional ecosystem.
| Account Type | Minimum Deposit | Max Leverage | Pricing Model | Platforms |
|---|---|---|---|---|
| ECN | $100 | Up to 1:200 | Interbank spreads + fixed commissions | JForex (primary), ecosystem access |
| MT4 | $100 | Up to 1:200 | Market pricing + commissions (structure depends on setup) | MetaTrader 4 |
| MT5 | $100 | Up to 1:200 | Market pricing + commissions (structure depends on setup) | MetaTrader 5 |
This account design fits traders who value consistency more than “tiered perks.” However, there is a practical implication: fixed commissions can feel less attractive for low-volume traders, because commission impact is more visible when trade frequency is low or position sizing is small. In other words, Dukascopy’s cost model tends to reward traders who are intentional about execution and who can justify commission costs through strategy efficiency.
Platforms
Dukascopy’s platform offering is built for serious trading workflows. The broker provides MetaTrader 4, MetaTrader 5, and its proprietary JForex platform. While many brokers rely almost entirely on MetaTrader, Dukascopy’s identity is tightly linked to JForex, which is widely valued among professional users for advanced analysis, automation capabilities, and deeper execution tooling.
JForex is designed to support detailed technical work, strategy development, and systematic trading. For Asian traders who value structured workflows—especially those who trade across multiple sessions and instruments—the platform’s analytical depth can be a genuine advantage. It is not the simplest platform for casual users, but that complexity is part of its strength for traders who want more control and better tooling.
MetaTrader 4 and 5 remain important for compatibility and trader preference. MT4 appeals to traders who want a mature indicator ecosystem and familiar EA workflows, while MT5 provides improved backtesting and broader technical features. The key point is that Dukascopy offers both, but it does not build its brand around “MT-only convenience.” It builds around professional-grade platform depth.
Assets
Dukascopy offers a broad CFD instrument lineup designed for active trading across multiple macro themes and asset classes.
Available Assets
Below you can see which assets are available for trading with Dukascopy:
| Asset | Availability |
|---|---|
| Currencies | 30 |
| Real Stocks | ✗ |
| Stock CFDs | ✓ |
| Commodities | ✓ |
| Indices | ✓ |
| Real ETFs | ✗ |
| ETFs CFDs | ✓ |
| Futures | ✗ |
| Options | ✗ |
| Bonds | ✗ |
| Cryptocurrency CFDs | ✗ |
| Real Cryptocurrencies | ✗ |
*Availability of certain assets may vary based on account type, platform, or region.
The instrument coverage includes CFDs on forex, equities, indices, commodities, bonds, and ETFs. However, it is important to be precise: there is no real asset ownership. Traders access markets through derivative exposure only. For Asian traders using CFD strategies—hedging currency risk, trading indices during session overlaps, or positioning on commodity-driven macro moves—this coverage is typically sufficient.
The inclusion of bonds and ETF CFDs expands tactical exposure options, particularly for traders who want to express risk-on/risk-off views without changing brokerage accounts. Still, the broker’s offering is not designed for traditional investing. If a trader’s objective is long-term equity ownership, Dukascopy’s structure will feel incomplete by design.
Spreads
Dukascopy’s pricing identity is built around a true ECN model: interbank spreads combined with fixed commissions. This is different from brokers that advertise “tight spreads” but shift cost into opaque markups. With Dukascopy, trading costs are typically more explicit, which is often preferred by professionals who want clarity and who measure performance net of known costs.
Spreads Offered
Below a visual representation of Dukascopy's spreads across several currency pairs:
*Spreads are variable and may change based on market conditions, account types and trading volumes.
Spreads on major forex pairs can be competitive in liquid conditions, and the ECN model aims to reflect real market depth rather than internally managed price feeds. The trade-off is that commissions are not optional within the ECN structure, and they can feel relatively heavy if a trader is not operating at meaningful volume. For Asian traders, the right way to evaluate Dukascopy is to compare all-in cost (spread + commission) under typical trading conditions, not “best case” spread snapshots.
Other Trading Costs
Beyond spreads and commissions, the main recurring trading cost is overnight financing (swap rates) on leveraged CFD positions held beyond the trading day. These costs vary by instrument and market conditions, and they should be treated as a core part of strategy design for swing traders. Dukascopy’s professional orientation generally implies that these costs are clearly visible inside the platform, supporting better planning for multi-day holds.
Funding and withdrawal fees can also be influenced by payment method and third-party providers. Traders should differentiate between broker-imposed fees and external processing costs, especially when using international bank transfers or cryptocurrency rails.
Trading Conditions
Dukascopy is designed around “execution purity.” The ECN model aims to provide direct market access without broker intervention, which tends to be attractive for traders who care about price integrity and who want a trading environment that behaves consistently across volatility regimes. In real markets, this also means slippage can occur during fast moves, but the key is whether the slippage is symmetrical and market-driven rather than systematically skewed.
Maximum leverage is up to 1:200. Compared with offshore brokers offering extreme leverage, this is conservative, but it is aligned with a professional risk posture. For Asian traders operating around regional macro events, conservative leverage can reduce liquidation risk and support more disciplined position sizing. Dukascopy’s model is less about “maximum leverage marketing” and more about stable execution under controlled risk parameters.
Is Dukascopy a Good Option for Asian Traders?
Dukascopy is a strong option for Asian traders who prioritize safety, transparency, and institutional-style execution. Its Swiss regulation and banking profile offer a level of perceived stability that many retail brokers cannot match, and the ECN model appeals to traders who evaluate costs and execution as measurable variables rather than marketing features.
However, it is not ideal for every profile. Traders who prefer ultra-high leverage, simplified interfaces, or “all-in-one” learning ecosystems may find Dukascopy too technical. Fixed commissions can also be less efficient for low-volume traders, making it more suitable for those who trade with a clear plan and consistent execution requirements.
Our Verdict
Dukascopy delivers a professional, regulation-driven trading environment with a clear ECN identity. Its multi-jurisdiction regulatory posture—led by FINMA—combined with a bank-linked structure, supports a strong trust profile for traders who care about capital safety. The platform offering, particularly JForex, reinforces the broker’s technical orientation and makes it attractive for automation, advanced analysis, and disciplined execution.
The cost structure is transparent but not designed to be “cheap for everyone.” Fixed commissions and a professional-grade workflow tend to reward traders who operate with sufficient volume, intentional strategy design, and a strong focus on execution quality. For Asian traders seeking a sophisticated and regulated ECN venue, Dukascopy stands out as a serious, long-term option in 2026.
Frequently Asked Questions
Is Dukascopy regulated and safe to trade with?
Yes. Dukascopy is regulated by FINMA in Switzerland and also holds regulatory presence under FCMC (Latvia) and JFSA (Japan). Its Swiss banking profile strengthens its overall trust posture compared with many retail brokers.
What is the minimum deposit at Dukascopy?
The minimum deposit for Dukascopy’s main account options is $100.
Does Dukascopy offer a true ECN model?
Dukascopy is built around an ECN execution model with interbank spreads and fixed commissions, aiming to provide direct market access without broker intervention.
Which platforms does Dukascopy support?
Dukascopy supports its proprietary JForex platform as well as MetaTrader 4 and MetaTrader 5.
Does Dukascopy offer real stocks or real ETFs?
No. Dukascopy provides access through CFDs, including CFDs on equities and ETFs, but it does not provide real asset ownership.
What leverage does Dukascopy offer?
Dukascopy offers maximum leverage up to 1:200, depending on jurisdiction and instrument.
Note: Any opinions expressed in this article are not to be considered investment advice and are solely those of the authors. Singapore Forex Club is not responsible for any financial decisions based on this article's contents. Readers may use this data for information and educational purposes only.
