Dukascopy Bank vs FXTM - Online Brokerage Comparison

Dukascopy Bank vs FXTM | Trading Brokers Comparison

Dukascopy Bank vs FXTM Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$1000MT4, JForex500+FINMA
$10MT4, MT5250+FCA, CySEC, FSCA, FSC

Dukascopy Bank vs FXTM Comparison

Each offers MetaTrader 4 (MT4). As well as providing tools to enable the trader to analyse markets and make their own trading decisions, this platform is well known for its Expert Advisors (EAs) which are automated trading strategies executing trades on behalf of the trader. The trader can use and build EAs in the MQL4 programming language. Both brokers let the trader run these online trading robots and offer ECN trading, which can be of interest particularly to traders who use strategies which depend on speed.

As well as MT4, FXTM provides the successor to MT4, MetaTrader 5 (MT5). This platform offers a number of upgrades on MT4, but also has EAs.

FXTM has a wider range of markets to trade on MT4. Dukascopy Bank offers most of its market on JForex (and has more than FXTM and a wider range) on JForex. This platform supports the use of and design of robots based on the Java programming language. JForex also has a relatively large number of technical indicators inbuilt on the platform.

FXTM has a Cent account which lets it offer trade sizes smaller than micro lots. This account has a very low minimum deposit as small trade sizes can mean it is possible to trade with a smaller account size.

Dukascopy Bank is regulated by the FINMA in Switzerland.

FXTM is regulated by the FCA in the United Kingdom, the CySEC in Cyprus and the FSC in Mauritius and is licensed by the FSCA in South Africa.

Quick comparison

Each offers MT4, though FXTM has a wider range of markets on this platform. FXTM also provides MT5 and Dukascopy Bank offers JForex on which it has more markets and a wider range than FXTM.

Minimum deposit and account types

The minimum deposit for Dukascopy Bank is $1000. The minimum deposit for FXTM is $10.

  • 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.
  • FXTM offers three Standard account types: Standard, Cent and Shares and three ECN accounts: ECN, ECN Zero and Pro. The minimum deposit for the Cent account is $/€/£10, for the Standard and Shares accounts $/€/£100, for the ECN Zero account $/€/£200, for the ECN account $/€/£500 and for the Pro account the minimum deposit and minimum account balance is $/€/£25,000. The Pro account offers spreads from 0 without a commission charge. FXTM offers Market Analysis and Education on its website. Copy Trading is available via FXTM Invest. The minimum trade size is 0.0001 lots.

Markets

  • Dukascopy Bank offers Forex, Indices, Energy, Metals, Stocks, Cryptocurrencies and Soft Commodities, with 500+ available. On MT4, Dukascopy Bank has 40+ Forex pairs.
  • FXTM offers Forex, Indices, Energy, Metals and Stocks, with 250+ available.

Cryptocurrency CFDs

  • Dukascopy Bank offers Bitcoin and Ethereum.

Spreads and leverage

  • Both brokers can offer low Forex spreads plus a commission charge. FXTM can offer Forex spreads from 1.3 without a commission charge.

Maximum leverage for Dukascopy Bank (FINMA regulated) is 200:1. Maximum leverage for FXTM (FCA or CySEC 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.
  • FXTM charges a commission starting at $2 per lot per side, depending on the equity in the account and the volume traded. The commission is charged for the ECN account.

Online trading platforms

Both brokers offer MT4. Dukascopy Bank additionally provides JForex. FXTM additionally offers MT5.

Why Dukascopy Bank or FXTM ?

Trader who wish to trade MT4 Expert Advisors (EAs) can do so at either broker, though FXTM has a wider range of markets on this trading platform. Traders who want to trade with MT5 can find this platform at FXTM. Traders who wish to trade more markets and a wider range can do so on JForex at Dukascopy Bank. JForex also allows the trader to use and build online trading robots (using a different programming language).

Comparison summary

  • Both offer CFD trading
  • Each has MT4
  • FXTM also offers MT5
  • Dukascopy additionally provides JForex
  • On MT4 (and MT5) FXTM has a wider range of markets
  • On JForex, Dukascopy Bank has more markets and a wider range than FXTM (on MT4 or MT5)

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