Dukascopy Bank vs ThinkMarkets Broker Comparison

Dukascopy Bank vs ThinkMarkets | Online Brokerage Comparison

Dukascopy Bank vs ThinkMarkets Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulation
$1000MT4, JForex500+FINMA
NoneMT4, Trade Interceptor200+FCA, ASIC

Dukascopy Bank vs ThinkMarkets Comparison

Dukascopy Bank provides ECN trading, offering access to the SWFX Marketplace. For this it charges a commission, but can offer low spreads for the more liquid Forex pairs. ThinkMarkets provides a range of account types. It also offers an account which can offer very low Forex spreads plus a commission charge, the ThinkZero account. ThinkMarkets utilises Equinix data centers for all its account types, which is a way of using physical proximity to liquidity providers to allow for rapid order transmission. Both brokers offer CFD trading, however in the UK, ThinkMarkets provides MT4 spread betting.

Both offer MT4. In addition to MT4, ThinkMarkets provides Trade Interceptor which is available on its account which does not charge a commission, but can still have tight Forex spreads. Dukascopy's main platform is JForex, which is an ECN optimised platform with a relatively large number of technical indicators inbuilt into the platform. Both brokers support the use of automated trading on MT4 (in the case of both brokers) and JForex in the case of Dukascopy Bank.

Other than for its ThinkZero account, ThinkMarkets does not have a minimum deposit requirement, however for its ThinkZero account it has a minimum deposit of $500. The minimum deposit for Dukascopy Bank is $500. Although it is purely an ECN broker, Dukascopy Bank actually has more markets than ThinkMarkets to trade (500+ vs 200+). Dukascopy Bank is regulated by the FINMA in Switzerland. ThinkMarkets is regulated by the FCA in the United Kingdom and the ASIC in Australia.

Quick comparison

Dukascopy offers MT4 and JForex, while ThinkMarkets provides MT4 and Trade Interceptor. Both brokers support both automated and non-automated trading.

Minimum deposit and key account features

The minimum deposit for Dukascopy Bank is $1000. ThinkMarkets does not have a minimum deposit for its Standard account and for its ThinkZero account has a minimum deposit of $500.

  • Dukascopy Bank offers an account type, but with differing features for higher deposits. A Swap-free (Islamic) account is available as well. Dukascopy offers webinars through the JForex 3 platform. Dukascopy Bank 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 Bank does not restrict trading styles. Markets news and a calendar are available on Dukascopy's website.
  • ThinkMarkets offers both CFD trading and spread betting. It offers the Standard account and the ThinkZero account. An Islamic account is available. ThinkMarkets ustilises Equinix data centers for all account types, namely LD4 (London) and HK4 (Hong Kong). There is no minimum deposit for the Standard account. The minimum deposit for the ThinkZero account is $/£500. The Standard account does not charge commissions, ThinkZero account does charge a commission. EAs and scalping are allowed. the minimum trade size is 0.01 standard lots.
  • ThinkMarkets account types provide 24/6 Live Support and a Free VPS Service. The ThinkZero account also provides Autochartist and an account manager.

Markets

  • Dukascopy Bank offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks and Soft Commodities, with 500+ available.
  • ThinkMarkets provides Forex, Indices, Energy, Metals, Cryptocurrencies and Stocks, with 200+ available.

Dukascopy Bank provides 60+ Forex pairs, ThinkMarkets provided 50+ Forex pairs.

Cryptocurrency CFDs

  • Dukascopy Bank offers Bitcoin and Ethereum.
  • ThinkMarkets offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, DASH, OmiseGO, Bitcoin Gold, Monero, ETP, IOTA, NEO and Zcash.

Leverage

  • Maximum leverage for Dukascopy Bank (FINMA regulated) is 200:1. Maximum leverage for ThinkMarkets (FCA regulated) is . Maximum leverage for ThinkMarkets (ASIC regulated) is 500:1.

Commission charges

  • Dukascopy Bank charges a commission which varies depending on the volume traded, the initial deposit and equity in the account.
  • For Forex, Dukascopy Bank commissions range from $35 per million USD per side, to $10 per million USD traded per side.
  • For other markets except Stocks, Dukascopy Bank commissions range from $52.5 per million USD per side, to $15 per million USD per side.
  • ThinkMarkets does not charge a commission on the Standard account and charges a commission of $3.5 per lot per side for its ThinkZero account.

Online trading platforms

Each broker offers MT4. Dukascopy Bank additionally provides JForex, while ThinkMarkets additionally provides Trade Interceptor.

Why Dukascopy Bank or ThinkMarkets ?

For traders who wish to trade via infrastructure suitable for automated trading strategies, both brokers offer support, via platforms and accounts. ThinkMarkets offers more account formats, namely MT4 spread betting in the UK and a Standard CFD account with no minimum deposit and tight spreads without a commission charge. Despite being purely focused on ECN trading, Dukascopy has more markets, with 500+ vs 200+. For traders who make their own decisions without using robots, then both brokers also offer features for this kind of trading. MT4 and JForex can both be used this way and indeed JForex has a relatively large number of technical indicators inbuilt into the platform. ThinkMarkets provides Trade Interceptor which is a user friendly platform designed for human traders.

Comparison summary

  • Both offer CFD trading
  • In the UK, ThinkMarkets also offers spread betting
  • Both provide MT4 CFD trading
  • ThinkMarkets also offers MT4 spread betting in the UK
  • Dukascopy provides JForex
  • ThinkMarkets offers Trade Interceptor
  • Both brokers support trading with automated trading strategies
  • Dukascopy Bank has a higher minimum deposit of $1000
  • For its ThinkZero account, ThinkMarkets has a minimum deposit of $500
  • For its Standard account, ThinkMarkets does not have a minimum deposit
  • Dukascopy bank can offer more markets to trade, on JForex

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