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
$5MT4, 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 $5.

  • Dukascopy Bank offers an account type, but with differing features for higher deposits. A Swap-free (Islamic) account is available as well. Dukascopy Bank 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 Bank's website.
  • FXTM provides three Standard accounts. These are the Standard, Cent and Shares accounts. The minimum deposit for the Cent account is $/€/£5 or ₦1,000 and the minimum deposit for the Standard and Shares account is $/€/£100 or ₦20,000. These are instant execution accounts (they are not no dealing desk). Micro lot trading is available for all account types. Scalping is allowed only on the ECN accounts. FXTM provides a range of tools, including signals, daily market analysis, news and an economic calendar.
  • FXTM offers a number of ECN accounts. There include the FXTM ECN Account, the ECN Zero, the FXTM ECN MT5, the Strategy Account, FXTM Pro and FXTM Pro MT5. The ECN and MT5 accounts charge commissions, the others do not. The minimum deposit for the ECN Zero account is $/€/£200 or ₦20 000, the minimum deposit for the FXTM ECN MT5 account is $/€/£500 or ₦20,000, the minimum deposit for the Strategy Account is $/€/£100 and the minimum deposit for the FXTM Pro accounts is $/€/£25,000 or ₦5,000,000.

Markets

  • Dukascopy Bank offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks and Soft Commodities, with 500+ available. On MT4, Dukascopy Bank has 40+ Forex pairs.
  • FXTM can offer slightly different numbers of CFD instruments for each ECN account types, which can be between 35+ and 60+. The FXTM ECN account offers 60+. All the accounts provide Forex and Precious Metals, the FXTM ECN account can also offer Energy and Indices.
  • For the non-ECN accounts, FXTM can offer more CFD instruments on the Standard account, with 75+ covering Forex, Precious Metals, Energy and Indices. The Cent account offers less, at 25+, covering Forex and Precious Metals. FXTM also has a non-ECN account which provides 180+ Shares CFDs. The total is 250+ across all accounts.

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. There is no commission charged for the ECN Zero, Strategy or Pro accounts or the non-ECN accounts.

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 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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