Dukascopy Bank vs USGFX - Online Brokerage Comparison

Dukascopy Bank vs USGFX | Compare Trading Brokers

Dukascopy Bank vs USGFX Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$1000MT4, JForex500+FINMA
$100MT4, MT560+ASIC

Dukascopy Bank vs USGFX Comparison

Dukascopy Bank offers ECN trading, while USGFX provides STP/ECN trading. This difference is related to the way liquidity is sourced, but both brokers offer no dealing desk intervention and allow the trader to trade with robots. Dukascopy offers more markets on JForex than USGFX offers on MT4 and MT5. However, on MT4 USGFX offers somewhat more (and a wider range). Dukascopy Bank has a higher minimum deposit. Dukascopy Bank is regulated by the FINMA in Switzeraland. USGFX is regulated by the ASIC in Australia.

Quick comparison

Both offer MT4. USGFX also provides MT5, while Dukascopy Bank offers JForex. USGFX has a lower minimum deposit, Dukascopy Bank has more markets to trade.

Minimum deposit and account types

The minimum deposit for Dukascopy Bank is $1000. The minimum deposit for USGFX is $100.

  • Dukascopy Bank offers an account type with differing features for higher deposits. A Swap-free (Islamic) account is available as well. Dukascopy Bank provides webinars through the JForex 3 platform. Dukascopy Bank offers 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. Market News, Research and Trading Tools including an Economic Calendar as well as Videos and Webinars are available on Dukascopy Bank'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 provides Trading Central, the Recognia Trading System (which provides trading ideas), Analysis, an Economic Calendar, one on one coaching and an Education Center on its website with Webinars, Seminars, a trading guide and Blog, along with contests. USGFX supports social and copy trading via ZuliuTrade and Myfxbook.

Markets

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

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

Cryptocurrency CFDs

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

Spreads and leverage

  • Dukascopy Bank offers Forex spreads from 0 plus a commission charge. USGFX offers Forex spreads from 1.2 without a commission charge.

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

Commissions

  • 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.
  • USGFX does not charge commissions for Forex or Precious Metals. It does charge commissions of $5 per lot per side for CFDs.

Trading Platforms

Both brokers offer MT4. Dukascopy Bank additionally provides JForex, USGFX also offers MT5.

Why Dukascopy Bank or USGFX ?

Traders who wish to trade using automated trading strategies can use either broker. Each supports trading using MT4 though USGFX also provides the successor to MT4, MT5. Most of the markets Dukascopy Bank offers are on its JForex platform which, like MT4, lets the trader run and build online trading robots. For traders who make their own trading decisions, JForex has a relatively large number of technical indicators inbuilt onto the platform. Dukascopy Bank operates its own ECN, the SWFX Marketplace and can let the trader trade directly into the market if they wish.

Comparison summary

  • Both brokers provide CFD trading
  • Each offers MT4
  • USGFX as well provides MT5
  • Dukascopy Bank offers JForex
  • On JForex Dukascopy Bank has considerably more markets to trade
  • They have a similar number on MT4, but USGFX has a wider range
  • USGFX has a lower minimum deposit
  • Dukascopy Bank operates its SWFX Marketplace ECN

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