Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland. The bank specializes in providing cutting-edge internet-based and mobile trading services, with a strong focus on foreign exchange, CFDs, and binary options. Additionally, the bank offers a wide range of banking and financial services, all supported by their in-house technological solutions.

Dukascopy Bank was established on November 2, 2004, in Geneva by Andre and Veronika Duka, both Swiss nationals residing in Geneva who continue to maintain a 99% ownership stake in the company. Dukascopy Bank is regulated by the Swiss Financial Market Supervisory Authority FINMA both as a bank and a securities firm.

Dukascopy Bank fully owns Dukascopy Europe IBS AS, a European licensed brokerage company based in Riga and Dukascopy Japan, a Type-1 licensed broker located in Tokyo. In addition to its Geneva Headquarters, Dukascopy Bank has offices in Riga, Tokyo and Hong Kong. Currently, Dukascopy Group employs over 300 staff.

The Dukascopy Group primarily offers online and mobile trading services through the SWFX - Swiss FX Marketplace, which is Dukascopy's proprietary ECN (Electronic Communication Network) technological solution and a registered trademark.

What you will get

Dukascopy offers an exceptional trading experience that is worth every trader's attention. With a client-first approach, Dukascopy provides numerous advantages, making them a standout choice for anyone looking to enter the financial markets. Dukascopy's commitment to cost-efficiency is evident through their low spreads, allowing for savings on trading costs. Swift execution ensures obtaining the best possible prices, providing a competitive advantage in trades. Additionally, with deposit protection of up to CHF 100,000, you can trade with peace of mind.

The unique trading platform, JForex4, Dukascopy's proprietary solution, is user-friendly, making trading accessible even for beginners. JForex4 presents over 200 technical indicators and trading widgets to help in staying informed about potential opportunities. With support for minute timeframes like ticks and seconds, it is perfect for scalping. Dukascopy's 19 years of experience and Swiss banking license instill trust and security. With over 1200 instruments, leverage up to 1:200, and 24/7 live trading support, Dukascopy stands as a trusted partner to guide traders through their trading journey. 

Moreover, Dukascopy offers a great feature – detailed historical price feed data makes it easier to develop and test trading strategies. This data covers various financial instruments, helping traders make informed decisions and reducing the risk of price manipulation. Dukascopy's extensive data archive is a useful resource for creating trading strategies, especially for high-frequency trading, and provides practical insights.

With such a comprehensive offering, Dukascopy is the go-to choice for transparent and professional trading services. Make a smart move and open an account today!

Dukascopy regulations 

Dukascopy is strictly supervised and regulated by esteemed regulatory bodies. The regulatory authorities play a pivotal role in ensuring Dukascopy’s compliance with the highest standards of financial and securities industry practices.

Dukascopy's international presence is underlined by its licenses and oversight by regulatory authorities in different parts of the world:

• Dukascopy Bank SA is licensed and regulated as a bank and as a securities firm by the Swiss Financial Market Supervisory Authority (FINMA), which is classified as a Tier-1 regulator.

• Dukascopy Europe IBS AS is licensed and regulated by the Bank of Latvia, also recognized as a Tier-1 regulator. 

• Dukascopy Japan K.K. is licensed and regulated by the Financial Services Agency of Japan (JFSA), known as a Tier-1 regulator.

These regulatory bodies set specific requirements for Dukascopy, and the company has diligently complied with them since 2004. It is important to note that failure to comply with these requirements could result in the withdrawal of the bank's license. Regular audits are conducted to ensure adherence to Swiss laws. Dukascopy also ensures client security by providing deposit protection for amounts up to CHF 100,000, in line with Swiss financial service provider requirements.

Dukascopy is widely regarded as one of the safest brokerage firms. They maintain strict safety standards and hold official licenses from respected financial regulators. Routine audits by PKF for internal affairs and KPMG for financial records further solidify their commitment to safety and financial integrity.

In summary, Dukascopy's reputation as a trusted and stable entity is due to its adherence to three top-tier regulations, regular audits, stringent safety standards, and a strong commitment to transparency. These qualities make Dukascopy a reputable choice for investors around the world.

Trading terms for Dukascopy clients

Traders opt for Dukascopy due to its well-established reputation for providing a secure trading environment. Dukascopy Bank SA, headquartered in Switzerland, operates under the regulation of the Swiss Financial Market Supervisory Authority (FINMA). This regulatory oversight ensures strict adherence to financial standards and secures client accounts up to CHF 100,000.

Dukascopy takes pride in delivering favorable trading terms to its clients. By offering narrow spreads, cost-effective commissions, and access to abundant liquidity from numerous providers, Dukascopy enables traders to execute trades at competitive rates, ultimately increasing their profitability.

Dukascopy also permits traders to select from a range of trading accounts, including Standard, ECN, and Islamic accounts, to suit various trading styles and preferences.

Furthermore, in addition to the widely-used MT4 platform, Dukascopy presents its proprietary JForex4 trading platform, available for both desktop and mobile devices. This platform grants traders the flexibility to monitor and participate in the markets from anywhere, ensuring they never miss a trading opportunity. Dukascopy's JForex4 mobile platform offers real-time quotes, comprehensive order management features, and full account accessibility.

With Dukascopy, you can transfer funds directly from the JForex platform to a multi-currency banking account (MCA), without any associated fees. The MCA account supports various payment methods, including card and cryptocurrency transactions.

What is LMAX Group？

LMAX Group is a UK-based multilateral trading facility (MTF) that offers forex and cryptocurrency trading to retail and institutional clients. It was founded in 2010 and is regulated by the Financial Conduct Authority (FCA) and Cyprus Securities and Exchange Commission (CYSEC). LMAX is known for its transparent and fair execution model, as well as its low latency and high-speed trading technology. The company's headquarters are located in London, and it has additional offices in New York, Tokyo, and Hong Kong.

What Type of Broker is LMAX Group？

LMAX is an electronic communication network (ECN) broker that operates a multilateral trading facility (MTF) for forex and cryptocurrency trading. It is a pure agency broker, which means it does not take positions against its clients and earns revenue solely from commissions and fees. LMAX provides institutional and retail traders with deep liquidity, fast execution, and transparent pricing through its proprietary trading platform, LMAX Global.

Pros & Cons

LMAX has several advantages, such as being a regulated broker, offering transparent and direct market access, providing a range of trading instruments, and offering a professional trading platform.

On the other hand, LMAX has some drawbacks, including limited account types and high minimum deposit requirements.

Note: This table is not an exhaustive list of all the pros and cons of LMAX and is only meant to provide a general overview.

Overall, LMAX is a suitable choice for experienced traders who value direct market access and professional trading tools.

LMAX Group Alternative Brokers

There are many alternative brokers to LMAX Group depending on the specific needs and preferences of the trader. Some popular options include:

• IG

• Saxo Bank

• CMC Markets

• Admiral Markets

• Pepperstone

IG, Saxo Bank, and CMC Markets are all well-established and reputable brokers, with strong regulatory oversight and a range of trading instruments and platforms available to their clients. Admiral Markets and Pepperstone are both popular among traders for their low spreads, fast execution speeds, and user-friendly platforms.

Some traders may prefer brokers with a wider range of trading instruments than what LMAX offers, and these alternative brokers may fit the bill. Additionally, some traders may prefer brokers with more robust educational and research resources, and may find these alternative brokers more suitable in that regard. Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is LMAX Group Safe or Scam？

As a regulated broker by reputable financial authorities such as FCA and CySEC, LMAX is considered a reliable broker. The company also prioritizes the security of its clients' funds by keeping them in segregated accounts and offering negative balance protection.

How are you protected？

Note that this table is for informational purposes only and is not exhaustive. It is important to conduct your own research and due diligence when choosing a broker.

Our Conclusion on LMAX Group Reliability:

LMAX is a highly regulated and reputable broker that takes the security of its clients' funds seriously. It is regulated by the FCA and CYSEC, and it implements various measures to ensure the safety of its clients' funds, such as holding them in segregated accounts and offering negative balance protection. Overall, LMAX appears to be a reliable and trustworthy broker.

Market Instruments

LMAX provides access to a range of financial instruments across various asset classes, including:

• Forex: Major, minor, and exotic currency pairs

• Indices: CFDs on major global indices, including UK100, GER30, US30, and more

• Commodities: Precious metals such as gold and silver, as well as energy products like crude oil and natural gas

• Cryptocurrencies: CFDs on Bitcoin, Ethereum, Litecoin, and Ripple

• It is important to note that the range of trading instruments may vary depending on the specific entity of LMAX and the jurisdiction in which it operates.

Accounts

LMAX offers different account types, each with different features and benefits:

• LMAX Global Account: This account is designed for institutions, hedge funds, asset managers, and professional traders. It offers access to the LMAX Global trading platform, deep liquidity, and low latency execution.

• LMAX Professional Account: This account is designed for experienced traders and offers access to the LMAX Exchange central limit order book, low latency execution, and competitive pricing.

• LMAX Prime Account: This account is designed for brokers, banks, and other financial institutions that want to access LMAX Exchange liquidity and offer it to their clients. It offers deep liquidity, low latency execution, and access to a range of trading tools and services.

• LMAX Interbank Account: This account is designed for banks and other financial institutions that want to access LMAX Exchange liquidity and offer it to their clients. It offers deep liquidity, low latency execution, and access to a range of trading tools and services.

All of these accounts have different minimum deposit requirements and fee structures.

Leverage

The maximum leverage offered by LMAX varies based on the account type and the asset being traded. For example, the maximum leverage for forex trading is up to 1:100, while for metals and commodities, it is up to 1:50.

It's important to note that leverage can increase both potential profits and losses, so it should be used with caution.

Spreads & Commissions

LMAX offers a variable spread on EUR/USD, which can start from as low as 0.2 pips during peak trading hours. However, the average spread is usually around 0.5-1 pip. It's worth noting that the spread can widen during periods of low liquidity or high market volatility.

The commission fee varies depending on the account type and the trading volume of the client. Here is a breakdown of the commission fees for LMAX:

LMAX Global: The commission for forex pairs ranges from $2.5 to $4.5 per $100,000 traded, depending on the trading volume. For indices, the commission ranges from $1.25 to $5 per lot traded, depending on the instrument and the trading volume.

LMAX Professional: The commission for forex pairs ranges from $2 to $3 per $100,000 traded, depending on the trading volume. For indices, the commission ranges from $1 to $3 per lot traded, depending on the instrument and the trading volume.

Below is a comparison table about spreads and commissions charged by different brokers:

Note that the above information may vary depending on the account type, trading platform, and other factors. It's always a good idea to check with the broker directly for the most up-to-date and accurate information.

Trading Platforms

LMAX offers its proprietary trading platform called LMAX Global, which is a web-based platform accessible from any device with an internet connection. It also offers connectivity through industry-standard APIs, allowing clients to connect directly to LMAX Global's liquidity pool through third-party platforms.

Additionally, LMAX offers the MetaTrader 4 platform for traders who prefer using a familiar interface.

See the trading platform comparison table below:

Overall, LMAX Group's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders.

Deposits & Withdrawals

LMAX offers a variety of deposit and withdrawal methods, including:

Payment Options:

• Bank Wire Transfer

• Debit/Credit Cards (Visa and Mastercard)

• Skrill

• Neteller

LMAX does not charge any deposit or withdrawal fees. However, fees may be charged by the payment provider or bank involved in the transaction.

Minimum deposit requirement

The minimum deposit requirement for LMAX varies depending on the type of account. The LMAX Global account has a minimum deposit requirement of $1,000, while the LMAX Professional account has a minimum deposit requirement of $10,000.

LMAX Group minimum deposit vs other brokers

LMAX Group Money Withdrawal

To withdraw funds from LMAX, you need to follow these steps:

Step 1: Log in to your LMAX account and go to the “My Account” section.

Step 2: Click on the “Withdraw Funds” button.

Step 3: Select the account you want to withdraw from and enter the amount you wish to withdraw.

Step 4: Choose your preferred withdrawal method and fill out the necessary information.

Step 5: Submit your withdrawal request.

LMAX processes withdrawal requests within one business day, and the time it takes for the funds to reach your account will depend on the withdrawal method you choose.

Fees

LMAX charges various fees for trading and account maintenance. Here is an overview of some of the fees charged by LMAX:

• Swap Fees: LMAX charges a swap fee for positions held overnight. The swap fee is based on the interest rate differential between the two currencies of the trading pair.

• Deposit/Withdrawal Fees: LMAX does not charge any deposit or withdrawal fees. However, fees may be charged by the payment provider or bank involved in the transaction.

• Inactivity Fee: LMAX does not charge any inactivity fee.

It's important to note that the fees charged by LMAX may vary depending on the type of account and trading instrument. Traders are advised to check the latest fee schedule on the LMAX website before trading.

See the fee comparison table below:

Customer Service

LMAX provides 24/7 customer service through phone, email, and live chat. You can also follow LMAX on some social networks such as LinkedIn, Facebook and YouTube.

Overall, LMAX's customer service is considered to be of good quality with responsive and helpful agents.

It's worth noting that the quality of customer service can be subjective and may vary from client to client. However, this table provides a general overview of the strengths and weaknesses of LMAX's customer service.

Education

LMAX provides a range of educational resources for its clients, including:

• Video tutorials: LMAX offers video tutorials on various topics related to trading, such as technical analysis, fundamental analysis, and risk management.

• Webinars: LMAX hosts regular webinars that cover a wide range of topics, including market analysis, trading strategies, and risk management.

• eBooks: LMAX provides a range of eBooks on various topics related to trading, such as forex trading strategies and technical analysis.

• Trading guides: LMAX offers a range of trading guides that cover a variety of topics, including forex trading, CFDs, and cryptocurrencies.

• Glossary: LMAX has a comprehensive glossary of trading terms that clients can refer to when needed.

• Overall, LMAX's educational resources are comprehensive and cover a wide range of topics, making it a good choice for traders who are looking to improve their knowledge and skills.

Conclusion

In conclusion, LMAX is a highly-regulated broker that offers institutional-level trading services to retail clients. The broker offers a wide range of trading instruments and a powerful trading platform. LMAX's low-latency trading environment, deep liquidity pool, and transparent pricing model make it an ideal choice for traders who demand high-quality execution and a fair trading environment.

However, LMAX's high minimum deposit requirement and limited account types may not be suitable for beginner traders. Additionally, the broker's relatively high trading costs may not be attractive to cost-sensitive traders. Overall, LMAX is a reliable and competitive broker for experienced traders looking for top-tier trading services.

Frequently Asked Questions (FAQs)