Dukascopy Bank vs IC Markets - ECN Broker Comparison

Dukascopy Bank vs IC Markets | Forex Broker Comparison

Dukascopy Bank vs IC Markets Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$200MT4, MT5, cTrader230+ASIC
$1000MT4, JForex500+FINMA

Dukascopy Bank vs IC Markets Comparison

These are ECN brokers, offering traders access to liquidity and high speed order execution with no dealing desk intervention. Each allows automated trading and offers platforms which let the trader execute automated trading strategies. Traders who make their own trading decisions can also use these platforms. Dukascopy Bank operates its own liquidity pool called the SWFX Marketplace. IC Markets provides access to liquidity providers, locating its servers in Equinix data centers. Both offer a relatively large number of markets to trade for ECN brokers, providing Stocks CFDs in addition to a wide range of other markets. Dukascopy Bank is regulated by the FINMA in Switzerland, while IC Markets is regulated by the ASIC in Australia.

ECN trading conditions

Both offer access to liquidity. By operating its own pool, Dukascopy Bank can let the trader trade directly into the market if they wish.

Quick comparison

These are ECN brokers whose differences include platforms offered. While each has MT4, IC Markets also offers MT5 and cTrader and Dukascopy Bank provides JForex.

Minimum deposit and account types

The minimum deposit for Dukascopy Bank is $1000. The minimum deposit for IC Markets is $200.

  • Dukascopy 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 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 does not restrict trading styles. Markets news and a calendar are available on Dukascopy's website.
  • IC Markets offers four account types. These are Standard, True ECN, Islamic (Swap Free) and the cTrader ECN account. IC Markets provides Forex news, video tutorials and and economic calendar on its website. IC Markets uses Equinix NY4 and London LD5 Servers to deliver low latency trading conditions and has micro (0.01) lot trading.
  • IC Markets's Standard account does not charge a commission, but the True ECN account charges a commission. The cTrader ECN also charges commissions. IC Markets says that the True ECN and cTrader accounts are more suited to EAs and Scalpers, but all trading styles are welcome on each account type.

Markets

  • Dukascopy offers Forex, Indices, Energy, Stocks, Cryptocurrencies, Soft Commodities and Metals, with 500+ available.
  • IC Markets offers Forex, Indices, Energy, Stocks, Cryptocurrencies, Soft Commodities, Precious Metals, ETFs and Bonds, with 230+ available.

Dukascopy Bank provides 60+ Forex pairs, IC Markets provides 60+ Forex pairs.

Cryptocurrency CFDs

  • Dukascopy offers Bitcoin and Ethereum.
  • IC Markets provides Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash and Dash.

Spreads and leverage

  • Both brokers offer Forex spreads from 0 plus a commission charge. IC Markets also offers an account without a commission charge, with Forex spreads from 1.

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

Commissions

  • Dukascopy charges a commission which varies depending on the volume traded, the initial deposit and equity in the account.
  • For Forex, Dukascopy commissions range from $35 per million USD per side, to $10 per million USD traded per side.
  • For other markets except Stocks, Dukascopy commissions range from $52.5 per million USD per side, to $15 per million USD per side.
  • IC Markets charges a commission of $3.50 per lot per side for the True ECN account and the cTrader account charges a commission of $3 per 100,000 USD traded per side. Commissions are charged only for Forex and Metals.

Trading Platforms

Both brokers offer MT4. IC Markets also provides MT5 and cTrader, while Dukascopy Bank offers JForex.

Why Dukascopy Bank or IC Markets ?

These brokers offer services for traders who wish to trade Forex and other markets using ECN infrastructure and technology. For traders who wish to use MT4 and MT, IC Markets has both of these, while Dukascopy Bank offers MT4. In terms of ECN optimised platforms, IC Markets has cTrader and Dukascopy Bank offers JForex. These are different platforms, but both support automated and discretionary trading.

Comparison summary

  • These are ECN brokers
  • Each offers Forex and a range of other markets
  • Both have Shares CFDs
  • IC Markets uses Equinix data centers
  • Dukascopy Bank operates the SWFX Marketplace
  • Both have a relatively large number of markets for an ECN broker
  • IC Markets can offer a wider range of markets
  • Dukascopy Bank can offer more markets overall
  • Both provide MT4
  • IC Markets also offers MT5 and cTrader
  • Dukascopy Bank provides JForex
  • Dukascopy Bank is FINMA regulated in Switzerland, IC Markets is ASIC regulated in Australia

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