Binary Options Broker Dukascopy

Dukascopy – A Brief Review of the Binary Options Broker Dukascopy broker launched its operations in the binary options market in May 2014. It offers clients the opportunity to trade classic high/low options, touch options, and related currency pair contracts.   Dukascopy Reviews

Dukascopy Bank SA stands out among binary options brokers for its regulated banking structure and transparent quotes from leading forex liquidity providers. Many traders have likely heard of it as a reliable partner for forex trading. However, in this review, we will examine its activities in the binary options sector and the unique trading conditions this Swiss bank offers traders.

Content:

• Key Features of a Binary Options Broker
• General information about the broker
  • Licensing and Regulation
  • Social media promotion
  • Trading conditions
• Registration with broker Dukascopy
• Verification of personal data
• Minimum deposit on the Dukascopy platform
  • Depositing funds to a broker account and withdrawing funds from the site
• Account types
• Trading platforms
• Competitions and bonuses
• Training programs
• Customer support service work
• Dukascopy user reviews
• Pros and cons of a broker
• Conclusion: Is Dukascopy Worth Trading?

Key Features of a Binary Options Broker

General Information About the Broker

Dukascopy Bank SA is a Swiss securities firm with bank status and is regulated by FINMA, making it one of the most reliable financial institutions offering Forex/CFD and binary options trading services. The broker was founded in 2004 in Geneva. It feeds quotes to its trading platforms from its own ECN platform, SWFX. Binary options trades can be opened from $1, but without the use of trading robots.

Licensing and Regulation

Dukascopy is regulated by the Swiss Financial Market Supervisory Authority (FINMA). It holds a bank and securities firm license. The bank also owns brokerage firms in the EU and Japan.

Social Media Promotion

The brokerage company has a fairly extensive social media presence, but promotes its financial services primarily through its Facebook profile. On X, LinkedIn, Weibo, and YouTube, the broker has a less active presence and a small following.

Trading Conditions

Trading is available on two types of options contracts on currency pairs: classic "higher/lower" options and "touch" options. Only manual trading is permitted; any suspicion of automated trading will result in immediate account blocking.

Options trading closes at 21:59:59 GMT during winter time and at 20:59:59 GMT during summer time. Also, keep in mind that trades are opened with a 2-second delay. For example, if you decide to buy a Call option with a 5-minute expiration at 15:00, the broker will open the trade at 15:00:02 and close it at 15:05:02.

Additionally, it's important to consider the minimum trade duration available for a particular asset. For example, for the EUR/USD and USD/JPY pairs, the minimum expiration is 3 minutes, while for NZD/USD and EUR/GBP, it's 10 minutes.

Trading volume restrictions should also be taken into account. The number of contracts in active and pending orders cannot exceed 100 at a time. The maximum position size limit per asset is calculated based on the total value of contracts with the "Active" status, regardless of their direction or the currency pairs they were opened for. So, if you have a $200 Call on EUR/USD and a $400 Put on GBP/USD, your total position is $600.

Dukascopy broker offers binary options trading on only 18 currency pairs. Stocks, cryptocurrencies, and OTC instruments are not offered.

Registration with Broker Dukascopy

The process for registering a new trading account with Dukascopy is not much different from that of other reputable binary options brokers. You must complete a standard registration form and accept the terms and conditions.

Verification of Personal Data

After submitting your initial information, you must undergo video identification in the Dukascopy Connect 911 app. A bank manager will contact you to confirm your identity and ask you to present your passport or other identification.

Minimum Deposit on the Dukascopy Platform

The minimum deposit on the Dukascopy platform is $100, significantly higher than most binary options brokers. However, the recommended amount for binary options trading with this broker is $1,000. These conditions make Dukascopy inaccessible to most novice traders. For comparison, the binary options broker Pocket Option has a minimum of just $5, while Quotex has a minimum of $10. If you're looking for a broker and want to know where else you can start trading with small amounts, we recommend checking out our rating of binary options brokers with minimum deposits.

Depositing Funds to a Broker Account and Withdrawing Funds from the Site

Binary options broker Dukascopy offers its clients a variety of convenient methods for depositing and withdrawing funds: bank transfer, Mastercard, Visa, Maestro, and Visa Electron payment cards, as well as Skrill and Neteller.

Account Types

Unlike many brokers, Dukascopy doesn't use a multi-tiered account system with progressive benefits like "Standard" or "VIP." Instead, you receive a binary options trading sub-account within your main multi-currency account.

Thus, Dukascopy, as a regulated Swiss bank, separates clients not by privilege levels, but by product type: a binary options trading account, a Forex/CFD trading account, and a multi-currency account for safekeeping funds.

Trading Platforms

For binary options trading, all clients of this broker have access to two trading platforms: Web Binary Trader and a mobile app. Web Binary Trader is a simple and easy-to-use trading terminal designed specifically for desktop computers. It offers a choice of returns on digital contracts from 70% to 90%, as well as 50% to 70% for paired binary options and trading session contracts.

A special feature of the terminal is the ability to activate order chains with preset capital management strategies: Martingale and Winning. If you enable the Martingale strategy, the system will automatically place a new option contract for a doubled amount each time the previous one expires out-of-the-money. However, if the doubled amount contract expires in profit, it covers the previous losses, and the strategy ends with the accumulated profit.

The Winning Order Strategy is a trend-following system. If the market is moving in a single direction, a trader can activate the Winning Strategy, which automatically places a new contract with an increased amount (equal to the payout of the previous one) every time the previous one expires in-the-money.

If the Winning strategy uses three contracts in a chain, the trader risks only the size of the initial option, but has the opportunity to earn 12 times that amount if all options finish in-the-money.

Competitions and Bonuses

All Dukascopy Bank SA clients have the opportunity to receive a 100% deposit bonus. To do so, submit a request in your personal account within 30 days of your last deposit.

However, there's one caveat: the deposit must be the last transaction on your account. This means you mustn't have any withdrawals pending at the time you apply for the bonus.

Training Programs

Dukascopy broker offers its clients additional high-quality services, including training videos, seminars, and webinars on the trading platform, as well as other relevant materials. If you're new to binary options trading, take our comprehensive training course on our website and find the optimal trading strategy for you.

Customer Support Service Work

You can contact the broker's customer support service via the feedback form on the website, email, online chat, or by phone.

Dukascopy User Reviews

Reviews of this broker often include complaints from clients about slow resolution of issues. Despite the high service standards stated on the official website, real users report poor customer support and unreasonable delays in fund transfers.

Pros and Cons of a Broker

Conclusion: Is Dukascopy Worth Trading?

Dukascopy Bank SA, as a binary options broker, will primarily appeal to traders who prioritize the reliability and security of their funds. In this regard, a financial institution with the status of a Swiss bank regulated by FINMA is a near-perfect option. Add to this the transparent quotes from the SWFX ECN platform and deposit protection of up to CHF 100,000, making the broker's limitations, such as a minimum deposit of $100 and limitations on expiration and trading volume, more manageable.

If you're looking for maximum leverage and bonuses, we recommend considering trusted companies from our rating of reliable binary options brokers.

Choose a reliable broker

See Also:

• Binary Options Strategies
• Are binary options a scam?
• How to choose the right binary options broker
• What to do if your broker won't withdraw your funds