Dukascopy Europe IBS SA is fully owned by the Swiss Forex Bank SA, the prior stated is the investment or rather the brokerage side of the bank offering the investment services.
Dukascopy Europe received a white label agreement from Dukascopy Bank SA to offer their services to any client from the 28 European countries. They are also allowed to offer their clients access to their Swiss Forex Marketplace environment when trading the forex market.
History of Dukascopy
The history of Dukascopy Europe IBS SA starts back in 1998 when it was still named Dukascopy Trading Technologies Corporation; their mission was to build a trading environment that catered for all traders on both sides of the market.
- In 1999, the team of scientists who were highly experienced with creating trading platforms started building the platform that would offer their clients a different experience while trading the forex market.
- In 2004, Dukascopy Bank SA acquired a Swiss brokerage house that was later to be Dukascopy Europe IBS SA.
- In 2006, they created the revolutionary centralized-decentralized trading environment which is now known as Swiss Foreign Exchange Marketplace. It is an integral part of the bank’s growth and success.
- In 2008, they started their plans to apply for a banking license so that they could operate legally. This came after they had all their facilities ready for business. In 2009 they filed the banking license application to FINMA.
- In 2010, they received authorization from the Swiss Financial Markets Supervisory Authority FINMA to carry out their banking activities.
- Finally in 2011, Dukascopy Bank SA, were finally the proud owners of the EU licensed brokerage firm. This was the last addition to their long term plan to have a centralized location that clients would go to for their trading needs.
Dukascopy EU has the following principles that have been their driving force ever since their inception in 1998. They stand for equality in trading rights and a transparent trading environment which are at the core of the ECN liquidity provision.
Dukascopy: Review of Their Accounts and Trading Platforms
Dukascopy has a wide range of trading accounts; they have a forex trading account, they have a binary account, a CFD account, they also offer managed accounts for their clients.
They also have business to business relations and securities trading. All the stated account types are further discussed in detail in their website in a well structured manner. All the accounts mentioned also have a wide range of trading platforms that can be used to trade them.
Dukascopy have created one of the best trading platforms in the world, all their trading platforms are revolutionary and they are easy to trade with, all the features present in each trading platform is suited for its trading purpose. The following is a list of all their trading platforms and their features.
The JForex trading platform is a desktop platform that was built with the trader in mind. It allows automated trading and manual trading alike. It has 250 indicators, this are more indicators than in any other platform out there.
It also has a wide range of charting options, it has a calendar that shows all economic news at the present time and it is updated to keep it real-time. It allows the trader to carry out a back test using the historical tester functionality. It also has renko bars, range bars, point&figure and line breaks.
This trading platform is amazing on all levels, if you had your expert advisors written in mql4 and you were wondering how to use them, you do not need to worry anymore because it have a converter to Java.
It is user friendly to all users because it has a multi-language interface. The Java platform is toned version of the JForex and it has most of the features stated above from JForex.
They also have a web platform that is optimized to work as efficiently as the desktop platforms and it is not as demanding on the technical requirements as the two above.
Their mobile trading platforms are also as highly crafted as the desktop versions, trading from your iOS device or your Android platform will have the same feeds, fast executions, access to market news and trading reports. The only difference I reckon is the screen size.
Since, they do not have a MT4 platform, they offer a third party bridge to MT4; this allows the traders who are accustomed to using this platform trade from it but using Dukascopy’s superior price feeds.
This comes at a cost to the trader though, they pay for the connection fees charged by the third party, and this could have an overall effect on you profit and loss balance.
Their managed account is meant to link the trader and the clients by providing the trader or manager quality ECN liquidity feed, a quality trading platform and good range of order types, professional reporting for both the client and the trader.
Dukascopy also offer a smooth payment medium between the clients and the manager. The manager can place individual stop loss orders for each account.
Dukascopy Europe: Deposits and Withdrawals
Dukascopy is very categorical about their payment options. They offer two distinct options, the bank wire transfer method and the card payment method.
The bank wire transfer method takes 1-2 business days; they do not any third party payments. The card payments allowed from credit cards are either from MasterCard or VISA, and from debit cards they only take payments from Maestro and VISA Electron.
They only accept card payments up to a maximum of $5000, any amount above that cannot be made by a card.
They do not charge any transaction fee but the recipient bank charges 2% of the deposit made, and 2.5% for any payment made using a different currency apart from those mentioned. The card payments only take one business day to be processed.
Customer Support
Dukascopy have a telephone number, e-mail and social media pages that clients can use to get in contact with them. They also have FAQs that clients can follow up on if at all they have any questions concerning a particular product or instruction about their firm.
