Compare Dukascopy vs USGFX - Online Brokerage Comparison

Compare Dukascopy vs USGFX

Dukascopy vs USGFX Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$100MT4, JForex 3500+FCMC
$100MT4, MT560+ASIC

Dukascopy vs USGFX Comparison

Both offer ECN trading. Dukascopy can provider more direct access to liquidity providers on the ECN, thus can be described as an ECN provider, while USGFX follows an STP/ECN model. Neither broker restricts trading styles. Dukascopy offers more markets to trade than USGFX. USGFX provides MT4 and MT5. Dukascopy offers MT4 and JForex. Dukascopy EU is regulated by the FCMC in Latvia. USGFX is regulated by the ASIC in Australia.

ECN conditions

USGFX is an STP/ECN broker, while Dukascopy offers ECN trading. The difference is that USGFX will either net an order from its own clients or match it with an external liquidity provider. Dukascopy will send an order to the Swiss FX Marketplace (which is a liquidity aggregator operated by Dukascopy Bank SA) and fill an order with Interbank liquidity providers (by hedging it). USGFX uses Equinix data centres to achieve fast order execution.

Both have no dealing desk intervention. Thus all trading styles are allowed, including scalping, news trading and automated strategies (like robots). The direct access model of Dukascopy bank allows them to give clients the possibility to place bd/ask orders directly on the market (i,.e. to act as liquidity providers) and thus not have to pay a spread.

Quick comparison

Dsukacopy offers ECN trading, while USGFX provides STP/ECN trading. Dukascopy offers MT4 and JForex 3, and USGFX provides MT4 and MT5.

Minimum deposit and account types

The minimum deposit for Dukascopy is $100. The minimum deposit for USGFX is $100.

  • Dukascopy offers one account type. A Swap-free (Islamic) account is available as well. Dukascopy offers webinars through the JForex 3 platform. Dukascopy provides traders access to the Swiss Foreign Exchange Marketplace liquidity pools, which it operates. The minimum trade size is 0.01 standard lots (1000 units). Dukascopy does not restrict trading styles. Markets news and a calendar are available on Dukascopy's website.
  • USGFX offers four account types. These are Mini, Standard, VIP and Pro-ECN. The minimum deposit for the Mini account is $100, the minimum deposit for the Standard account is $10,000, and the minimum deposit for both the VIP and Pro-ECN accounts are $50,000. The different account types can offer lower spreads, with the lowest being available on the VIP account. All account types have a minimum trade size of 0.01 lots.
  • USGFX offers Trading Central, the Recognia Trading System (which provides trading ideas), analysis, one on one coaching and an Education Center on its website with webinars, seminars, a trading guide and Blog, along with contests.

Markets

  • Dukascopy offers Forex, Indices, Energy, Cryptocurrencies, Metals, Soft Commodities and Stocks, with 500+ available.
  • USGFX offers Forex, Indices, Energy, Cryptocurrencies and Precious Metals, with 60+ available.

Dukascopy provides 60+ Forex pairs, USGFX provides 20+ Forex pairs.

Cryptocurrency CFDs

  • Dukascopy offers Bitcoin and Ethereum.
  • USGFX offers Bitcoin.

Spreads and leverage

  • Spreads at Dukascopy are variable and are from 0.1 for EUR/USD (with an average of 0.2), 1 for UK100, 0.10 for Gold and 0.02 for US Crude Oil, plus a commission charge.
  • USGFX offers variable spreads. On the Mini account, EUR/USD is from 2.8, on the Standard account EUR/USD is from 2.2, on the Pro-ECN account EUR/USD is from 1.5 and on the VIP account EUR/USD is from 1.3.
  • USGFX offers Gold spreads from 0.50 on all accounts except VIP, where they are from 0.36. US Oil spreads are from 0.027, plus commission.

Maximum leverage for Dukascopy EU is . Maximum leverage for USGFX is 500:1, except on the Pro-ECN account where it is 100:1.

Commissions

  • Dukascopy charges a commission which varies depending on the volume traded, the initial deposit and equity in the account.
  • For Forex, Dukascopy commissions range from $35 per million USD per side, to $10 per million USD traded per side.
  • For other markets except Stocks, Dukascopy commissions range from $52.5 per million USD per side, to $15 per million USD per side.
  • USGFX does not charge commissions for Forex or Precious Metals. For CFDs, it charges a commission of $5 per lot per side.

Platforms

Dukascopy provides MT4, JForex 3, JForex Web 3 and apps. USGFX offers MT4 and MT5 desktop and a web trader based on MT4.

Comparison summary

  • Both provide ECN trading
  • USGFX does not charge commissions for Forex, the cost is included as the spread
  • USGFX charges a commission for CFDs
  • Dukascopy charges a commission for Forex and other markets, offering low ECN spreads
  • Dukascopy offers more direct access trading
  • Neither restricts trading styles
  • USGFX offers MT4 and MT5
  • Dukascopy offers MT4 and JForex
  • Dukascopy has more markets available
  • Both provide Bitcoin CFDs
  • Dukascopy has Stocks CFDs

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