Overview
Dukascopy is a Swiss bank as well as a broker, which is rare in forex. It's a good fit for traders who care more about who holds their money than about the cheapest spread, and for anyone who wants to automate. Dukascopy Bank SA in Geneva is regulated by FINMA, Dukascopy Europe in Riga by the Bank of Latvia, and Dukascopy Japan by the JFSA.
Accounts and costs
The minimum deposit is $100 at both the Swiss bank and the European arm. Pricing is commission-based: spreads start around 0.1 pips on majors, and you pay a volume commission per million traded that shrinks as your deposit, equity and monthly volume grow. MetaTrader accounts pay an extra $1 per lot on top. Leverage at the Swiss bank defaults to 1:100, with up to 1:200 available on request. Swap-free accounts are offered too. The fee schedule takes some reading, so work out your own costs before you fund.
Platforms and markets
The main platform is JForex 4, on desktop, web and mobile, with a built-in API for coding strategies and a FIX API for bigger setups. MT4 and MT5 connect directly to Dukascopy's SWFX marketplace but carry a shorter instrument list, around 400 symbols against 1,500+ on JForex. Markets include forex, metals, indices, commodities, stock and ETF CFDs, bonds and crypto CFDs, plus binary options.
Money in and out
You can fund by bank wire, card, Skrill, Neteller or crypto. Wires and crypto deposits are free from Dukascopy's side, while cards and e-wallets can carry a percentage fee. Withdrawals cost a flat fee per currency, for example USD 10 or EUR 7.5 by wire, so it pays to withdraw in larger chunks.
Good
- A Swiss bank regulated by FINMA, with EU and Japanese subsidiaries
- JForex 4 platform with its own API, plus FIX API for automated trading
- Commission-based pricing that drops as your volume and equity grow
- Wide range on JForex, including stock CFDs, ETFs and bonds
- MT4 and MT5 connect straight to the SWFX marketplace
Watch for
- Withdrawal fees on most methods
- Card, Skrill and Neteller deposits can carry a percentage fee
- Fee schedule is complex and depends on deposit, equity and volume
- MT4 and MT5 carry an extra commission and a smaller symbol list than JForex
- Account opening asks for more paperwork than most brokers
Accounts and costs
What each account needs to open and what you pay to trade on it.
| Account | Min deposit | Pricing | Max leverage |
|---|---|---|---|
| JForex | $100 | Spreads from 0.1 pips plus a volume commission per $1 million traded, scaled by deposit, equity and monthly volume | 1:100 by default at Dukascopy Bank SA, up to 1:200 on request |
| MT4 / MT5 | $100 | Same volume commission as JForex plus $1 per MT4 lot ($10 per $1 million) | 1:100 by default at Dukascopy Bank SA, up to 1:200 on request |
Regulation
Which entity holds which licence. Your protection depends on the entity you open an account with.
Investor protection: Swiss bank deposit protection up to CHF 100,000 at Dukascopy Bank SA
Platforms and markets
Platforms
Markets
Deposits and withdrawals
- Methods
- Bank transfer, Card, Skrill, Neteller, Crypto, Apple Pay
- Minimum deposit
- $100
What traders say
Scores from the sites traders use, and our summary of what they're saying, checked 6 October 2026.
Dukascopy splits opinion sharply: traders tend to rate the trading side well, while banking, transfers and withdrawals draw most of the anger. Its trading profile on Trustpilot sits at about 2.7 from roughly 810 reviews, with close to a third one-star. Forex Peace Army shows 3.8 from about 210 reviews, Myfxbook 3.6 from 37, and Reviews.io 1.6 from about 240. Some of the lowest scores come from people using Dukascopy as a bank rather than a broker.
What traders like
Execution and JForex. Forex Peace Army and Myfxbook reviewers describe execution as reliable and the JForex platform as stable and well supported, with technical questions answered properly.
Costs for active traders. Reddit and Forex Peace Army users praise low spreads, volume-based commissions and good swap rates.
Swiss regulation. Many say the FINMA bank licence is the main reason they trust it with larger balances.
Common complaints
Withdrawals and transfers. The most common complaint on Trustpilot and Forex Factory is withdrawals, card refunds or international transfers that take weeks, are rejected, or need fresh identity checks each time.
Account opening and closures. Several reviewers describe heavy document requests to open an account, and a few say Dukascopy ended the relationship after long compliance reviews.
Fees and limits. Some mention withdrawal fees of around 20 USD, charges on outgoing transfers and low incoming limits on standard multi-currency accounts.
Platform freezes. A Forex Factory poster says JForex froze around major news releases, and one Forex Peace Army reviewer could not receive SMS verification codes.
Recently
August 2026: a GlobeGain summary of recent Trustpilot reviews found praise for JForex and execution alongside many reports of delayed withdrawals, frozen funds and generic support replies. No other dated reviews from the last 90 days are in the evidence.
Where this comes from
Trustpilot: Dukascopy's trading profile; banking has a separate profile.
Forex Peace Army: trader reviews of Dukascopy.
Myfxbook: trader reviews.
Reviews.io: customer reviews of Dukascopy Bank.
Forex Factory: a long forum thread on Dukascopy.
Reddit: traders discussing the broker.
GlobeGain: a summary of Trustpilot and other reviews.
Verified reviews
Reviews from traders who've connected an account at Dukascopy to Chartnaut, so you know they actually traded there. Opening soon.