Dukascopy Bank vs FXOpen - Online Brokerage Comparison

Dukascopy Bank vs FXOpen | ECN Broker Comparison

Dukascopy Bank vs FXOpen Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$1000MT4, JForex500+FINMA
$300MT465+FCA, ASIC, FSRC

Dukascopy Bank vs FXOpen Comparison

Each offers MT4 ECN trading. Dukascopy Bank provides considerably more markets to trade on its JForex ECN trading platform. Both allow styles such as scalping and automated trading (on MT4 and in the case of Dukascopy Bank also JForex). Dukascopy Bank has a higher minimum deposit than FXOpen.

Dukascopy Bank is regulated by the FINMA in Switzerland. FXOpen is regulated by the FCA in the United Kingdom, the ASIC in Australia and the FSRC in Nevis.

Quick comparison

Both offer MT4, Dukascopy Bank has more markets on its JForex online trading platform.

Minimum deposit and account types

The minimum deposit for Dukascopy Bank is $1000. The minimum deposit for FXOpen is $300.

  • 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.
  • FXOpen offers three accounts types, ECN, STP and Crypto. The ECN account charges commissions on its markets, the STP does not charge commissions. The ECN account has a wider range of market available. The Crypto account is an STP account which additionally offers a range of Cryptocurrencies (which have a commission charge). The minimum trade size is 0.01 lots. Market News and Analysis are available via RSS and an Economic Calendar is provided on FXOpen's website.

Markets

  • Dukascopy Bank offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks and Soft Commodities, with 500+ available. On MT4, Dukascopy Bank has 40+ Forex pairs.
  • On the MT4 ECN account, FXOpen offers Forex, Indices, Energy and Precious Metals, with 65+ available.
  • On the MT4 STP account, FXOpen provides Forex and Precious Metals, for a total of 50+.
  • On the MT4 Crypto account, FXOpen offers Forex, Precious Metals and Cryptocurrencies, for a total of 55+.

Cryptocurrency CFDs

  • Dukascopy Bank offers Bitcoin and Ethereum.
  • FXOpen offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Monero, NEO, IOTA, EOS, DASH, Ethereum Classic, Namecoin, Peercoin, Emercoin and OMNI.

Spreads and leverage

  • Both brokers can offer low Forex spreads plus a commission charge.

Maximum leverage for Dukascopy Bank (FINMA regulated) is 200:1. Maximum leverage for FXOpen (FCA regulated) is .

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.
  • For Forex, FXOpen charges a commission, which depends on volume traded, from $1.5 - $5 per standard lot per side. Other instruments have differing commission charges.

Trading Platforms

Both brokers offer MT4. Dukascopy Bank additionally provides JForex.

Why Dukascopy Bank or FXOpen ?

Traders who wish to use a wide variety of trading styles, including those which are suited to ECN trading, can consider either. MT4 (at both) and JForex (at Dukascopy Bank) allow the trader to run and build trading robots. FXOpen has a wider range of markets on MT4, but on JForex has a wider range and a greater number of markets than FXOpen on MT4. Traders who wish to trade using longer term non-automated trading can consider either, but it can be noted that JForex has a relatively wide range of technical indicators inbuilt into the platform.

Comparison summary

  • Both brokers offer CFD trading
  • Each provides MT4
  • Dukascopy Bank offers JForex as well
  • FXOpen has a wider range of markets on MT4
  • On JForex, Dukascopy Bank has considerably more markets and a wider range
  • Dukascopy Bank has a higher minimum deposit
  • Each allows automated trading, on MT4 for both, and JForex for Dukascopy Bank

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