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Dukascopy

Switzerland Switzerland
Forex, CFDs & banking (Swiss bank) · since 2004
FINMABanco de LetoniaJFSAwhat are these? →
4.5
/ 5 ★
RegulationFINMA, Banco de Letonia, JFSA
Min. deposit$100
Leverage1:1 – 1:200
PlatformsJForex, MT4, MT5, API
InstrumentsForex, CFDs & banking (Swiss bank)
Founded2004
🏛️ Which entity will open your account?
📍 Pick your country above and we'll tell you exactly which entity opens your account at Dukascopy.
How is this decided and how do I verify it? →

Regulation by region

The entity you sign with — and your protection — changes depending on where you live.

United Kingdom
No FCA license
No FCA authorization — served from Switzerland/Latvia
European Union
Bank of Latvia (MiFID II)ECN
Dukascopy Europe IBS AS (Riga, 40003344762) — investor compensation €20,000
United States
Doesn't serve the US
No CFTC/NFA registration
Australia
No ASIC license
No ASIC entity or license
Rest of the world
Swiss FINMA bankECN
Dukascopy Bank SA (Geneva) — FINMA bank, esisuisse up to CHF 100,000

All licenses

Every regulator where the group holds a license, with its execution model. The entity that applies to you depends on your country (see above).

SwitzerlandFINMARegulatedECNBanco + casa de valores
LatviaBanco de LetoniaRegulatedECN40003344762
JapanJFSARegulatedECNKanto No. 2408

Account types

JForexECN account (SWFX Swiss Forex Marketplace), proprietary JForex 4 platform
MT4 / MT5accounts with MetaTrader 4 and 5
Multi-Currency AccountSwiss multi-currency bank account

Pros

✓Top-tier regulation
✓Funds with compensation scheme
✓Transparent operation
✓Good reputation
✓Competitive costs

Cons

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Breakdown by axis

The total score (out of 100) is the sum of the 7 axes, with the same yardstick for everyone. Below each one, the rationale with its source.

Regulation: Top tier22/22 pts
Why: Swiss BANK with FINMA banking license + Bank of Latvia (EU) + JFSA Japan. Genuine bank, a tier above a common retail broker
Withdrawals / payments: Isolated complaints10/20 pts
Why: no systemic denial but not clean: friction from a Swiss bank's strict KYC/AML (slow approval of each transaction)
Fund safety: Full (with compensation)15/15 pts
Why: segregated + esisuisse deposit protection up to CHF100k (bank) + ICF EUR20k (EU entity)
Transparency: Clear10/10 pts
Why: FINMA bank audited by KPMG, no fines
Reputation: Strong10/10 pts
Why: founded 2004 (Geneva); Trustpilot ~3.2 (polarized by service friction)
Costs: Competitive8/8 pts
Why: ECN (SWFX marketplace) EURUSD ~0.3-0.5 pip + $3.5/side

Sources

Don't take our word for it — check it yourself. These are the official registries and legal pages we relied on.

🔗 FINMA — authorised banks and securities dealers (Dukascopy Bank SA)🔗 Dukascopy — client protection

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