Dukascopy Review 2027Core Trading Conditions and Fees

Dukascopy review 2027: a Swiss bank built around an ECN marketplace

Dukascopy Bank is based in Geneva and has operated as a licensed Swiss bank since 2010, having started as a brokerage several years earlier. Its distinguishing feature is SWFX, the Swiss FX Marketplace, a proprietary electronic network that pools liquidity from banks, other marketplaces and Dukascopy's own clients. Traders get direct market access pricing on a platform the bank designed itself. For 2027 it remains a specialist choice for experienced forex traders who want transparency and the protection of Swiss banking law.

Regulation and deposit protection

Dukascopy Bank is supervised by FINMA, the Swiss financial regulator, and client deposits are covered by the Swiss depositor protection scheme up to 100,000 francs. The group also includes Dukascopy Europe, an investment firm based in Riga and regulated under EU rules, and Dukascopy Japan, licensed by the country's Financial Services Agency. Which entity you use depends on where you live and how much you deposit, and each has its own conditions.

Pricing

Dukascopy does not mark up spreads. Clients see raw prices from the marketplace, with EUR/USD commonly quoted at a fraction of a pip, and pay a commission based on traded volume, net deposit and equity. For a small account the commission is around $35 per million dollars traded, about $3.50 per standard lot per side, and it falls for larger and more active accounts. This structure is transparent and competitive for regular traders. Occasional traders with small balances will not see much benefit from the volume discounts.

Minimum deposit and leverage

Accounts with the European entity can be opened from about $100, while the Swiss bank has traditionally asked for more, so check the current threshold for your country. Leverage is up to 1:200 for the bank's clients on major pairs during the week and is reduced over weekends and for larger exposures. European retail clients are limited to 1:30. These are moderate limits by international standards, in keeping with a bank's risk policy.

JForex and other platforms

JForex is the bank's own platform, available on desktop, web and mobile. It is built for serious manual and automated trading, with depth-of-market display, a wide range of order types including bid and offer placement inside the spread, more than 250 indicators and a full Java development environment for strategies. A visual strategy builder is available for non-programmers. MetaTrader 4 and MetaTrader 5 are also offered through a bridge, with slightly different conditions.

Historical data and tools

Dukascopy publishes free historical tick data going back many years, which is widely used by developers across the industry for backtesting. The bank also runs its own financial television channel, a large online community with trading contests, and tools such as an economic calendar, sentiment indices and pattern recognition.

Markets and banking services

Clients can trade around 60 currency pairs, precious metals, and CFDs on indices, commodities, shares, ETFs, bonds and cryptocurrencies. The bank also offers binary options to eligible clients, multi-currency current accounts, payment cards and a mobile banking app, so a trading relationship can sit alongside everyday banking.

Fees

Deposits by bank transfer are free on the bank's side. Withdrawals carry a fee that depends on currency. Overnight financing applies to leveraged positions, and there can be charges for inactivity or for low-balance accounts. The fee schedule is detailed and worth reading.

Pros and cons

• Safety: a FINMA-regulated Swiss bank with deposit protection.
• Transparency: raw marketplace pricing with volume-based commission.
• Technology: the JForex platform and free tick data.
• Complexity: the fee structure and platform suit experienced users.
• Leverage: moderate limits that fall at weekends.
• Entry: higher requirements at the Swiss entity than at retail brokers.

Who is Dukascopy for?

Dukascopy suits experienced and algorithmic forex traders who value direct market access and bank-level security. Beginners and traders who want simple spread-only pricing will find it demanding.

Verdict

Dukascopy offers a rare combination of ECN trading and Swiss banking status. For 2027 it stays a strong option for serious currency traders. Leveraged trading can lead to losses greater than expected, whatever the provider.

Dukascopy review: compare the alternatives

This Dukascopy review is part of our Top 65 Forex Brokers in 2027 ranking. To compare, read the ActivTrades review and the City Index review.