Dukascopy Review · 2026

What is Dukascopy?

Dukascopy is a Swiss banking and brokerage group built around electronic trading and proprietary financial technology. The group was founded in 2004 in Geneva, Switzerland, by Andre and Veronika Duka. Its official company profile states that the founders still own 99% of Dukascopy Bank SA. The bank also owns regulated subsidiaries in Latvia and Japan.

The group operates the SWFX Swiss FX Marketplace, an ECN (Electronic Communication Network) trading infrastructure that connects orders with market liquidity. Dukascopy combines forex brokerage with banking, securities services, managed accounts, and multi-asset CFD trading. Its structure therefore differs from a standalone offshore forex brand with no banking operation behind it.

Which regulators license Dukascopy?

Dukascopy Bank SA operates under FINMA (Swiss Financial Market Supervisory Authority) oversight as a Swiss bank and securities firm. FINMA's authorised-institutions directory was updated on September 18, 2026, one day before this review. The broker's official company disclosure also identifies FINMA supervision at both bank and securities-firm level.

• Switzerland: Dukascopy Bank SA is regulated by FINMA as a bank and securities firm. No conventional public license number is stated.
• Japan: Dukascopy Japan K.K. discloses Type I Financial Instruments Business registration Kanto Local Finance Bureau No. 2408. Its current company page also lists Financial Futures Association membership number 1587.
• Latvia: Latvijas Banka lists Dukascopy Europe IBS AS under investment-services license 06.06.08.112/316.1, valid from November 24, 1997.

Swiss accounts receive insolvency protection of up to CHF 100,000 through esisuisse according to the bank's official trading documentation. Dukascopy Europe's current site states deposit protection of up to EUR 20,000. Protection depends on the legal entity serving the client, so the account agreement identifies which framework applies.

Trading platforms

Trading platforms are the software interfaces used to place orders, monitor positions, and analyse markets. The broker supports JForex 4, MetaTrader 4, MetaTrader 5, and a dedicated Stock Trading Platform. Its official site also provides web, iOS, and Android access.

JForex 4

JForex 4 is Dukascopy's proprietary trading platform and the main interface for SWFX access. The broker advertises more than 250 indicators, automated strategies, back-testing, and JForex API access. JForex supports leverage up to 1:200 under the Swiss offering, subject to instrument and client restrictions.

MetaTrader 4 and MetaTrader 5

MT4 and MT5 mean MetaTrader 4 and MetaTrader 5, two widely used third-party trading platforms. Dukascopy connects both platforms to its trading infrastructure and permits Expert Advisors for automated execution. The current specifications show market execution, hedging, trailing stops, and a 50% stop-out level.

Stock Trading Platform

The dedicated stock interface expands access beyond conventional forex and index contracts. Dukascopy announced more than 25,000 stock and ETF CFDs on this platform in June 2026. The instrument universe therefore varies significantly by platform rather than appearing identically across JForex, MT4, and MT5.

Account types

Account types define how a client trades and how positions are managed. The account lineup includes Self-Trading, Managed, PAMM, and Swap-Free accounts. A swap is an overnight financing adjustment applied when a leveraged position remains open after the daily rollover.

Self-Trading accounts are the standard route for clients making their own decisions through JForex or MetaTrader. Managed and PAMM structures separate trading authority from the underlying investor account. Swap-Free accounts remove standard overnight swaps under specific conditions and are intended for clients requiring that structure.

What is the minimum deposit?

The minimum deposit is the initial amount required to fund a live trading account. Dukascopy states a 100 USD minimum for ECN accounts at Dukascopy Bank SA and Dukascopy Europe. The current live-account onboarding page repeats the same 100 USD or equivalent threshold.

The low entry threshold does not determine the commission tier. JForex commissions vary with net deposit, equity, or recent trading volume. Accounts below 5,000 USD enter the highest published currency commission band, so account size affects pricing after the minimum funding requirement has been met.

Deposit and withdrawal methods

Funding methods determine how money moves between the client and the trading account. Dukascopy accepts bank transfer, SEPA, payment cards, Skrill, Neteller, and supported cryptocurrency funding. Its crypto-fundable accounts currently support Bitcoin, Tether, and Ether under separate operating conditions.

Bank transfers are normally received within 1-2 business days according to the official funding page. Visa, Mastercard, Maestro, and Visa Electron are accepted for card funding. The bank requires incoming funds to originate from an account, card, or e-wallet belonging to the trading-account holder.

Tradeable instruments

Tradeable instruments are the markets accessible through the broker's account infrastructure. The product range includes 108 currency pairs plus metals, energy products, cryptocurrency CFDs, indices, bonds, stocks, and ETFs. A CFD (Contract for Difference) tracks the price movement of an underlying asset without transferring ownership of that asset.

Platform coverage is not identical. Dukascopy's 2026 live-account page advertises more than 25,000 instruments through JForex and the broader stock offering, while MT4 and MT5 provide a smaller selection. In February 2026, the bank stated that MT5 had expanded to more than 400 instruments.

Spread and commission structure

A spread is the gap between the bid and ask price of an instrument. Dukascopy advertises EUR/USD spreads from 0.1 pip, where a pip is a standard small unit of forex price movement. This quoted spread does not include the separate volume commission charged on transactions.

For self-directed JForex clients below 5,000 USD, the published currency commission is 35 USD per 1 million USD traded on each opening or closing transaction. Rates fall as qualifying deposits, equity, or 30-day trading volume rises. The lowest published JForex currency rate reaches 10 USD per million at the largest listed qualifying tier.

MT4 and MT5 apply a different schedule. Smaller accounts begin at 8 USD per 100,000 USD round-turn currency lot under the published table. MetaTrader pricing also includes an additional platform-related charge equivalent to 5 USD per 1 million USD.

Leverage and margin requirements

Leverage means controlling a position larger than the cash margin committed to it. Retail leverage is 1:30 in the European structure and up to 1:200 under the Swiss JForex offering. Current MT4 and MT5 specifications show default leverage of 1:100.

Margin policy also varies by instrument. The MetaTrader specification sets a margin call at 100% or below and a stop-out at 50% or below. The bank's Swiss risk disclosure also states that some clients have had to deposit funds to offset negative balances, so negative-balance protection should not be assumed as universal across every Swiss account circumstance.

How does customer support work?

Customer support covers account access, funding, platform questions, and trading-operation issues. Dukascopy's official website advertises live trading support on a 24/7 basis and provides telephone and online contact channels. The group also maintains separate regional support infrastructure for its Swiss, European, and Japanese entities.

Language coverage extends well beyond English. The website provides multiple European and Asian language versions, while platform documentation includes JForex manuals, MetaTrader help, video tutorials, webinars, and a support forum. Entity-specific opening hours can differ, particularly for Dukascopy Japan's local support desk.

Demo account and onboarding flow

A demo account is a simulated account that uses practice funds instead of deposited capital. Dukascopy's standard forex and CFD demo currently lasts 14 days. Users can test JForex, MT4, and MT5, but the time limit means the demo is not an unlimited permanent testing environment.

Live onboarding follows a three-stage process on the current account-opening page: application, video identification, and funding after approval. The minimum live deposit is 100 USD or equivalent. Video identification is part of the bank's remote account-opening process rather than a substitute for standard identity and compliance checks.

Should you trade with Dukascopy?

Dukascopy combines Swiss banking supervision with an ECN trading model and regulated subsidiaries in Japan and Latvia. The platform set covers JForex 4, MT4, and MT5, while the minimum deposit remains 100 USD. Its pricing model uses low quoted spreads plus transaction commissions rather than a spread-only structure.

The main operational trade-offs are equally specific. Commission rates are highest for smaller accounts, the standard demo expires after 14 days, and TradingView or cTrader integration is absent from the platform lineup. Leverage and investor protections also change by legal entity, while Swiss risk disclosures show that negative balances can require additional funding in some cases.

Forex and derivative products carry high leverage; some or all invested capital may be lost. This content is for information only, not investment advice. Verify the broker's current regulation status with the relevant authority's official site before any investment decision.