Dukascopy Bank vs IronFX - Compare Trading Brokers

Dukascopy Bank vs IronFX | Online Brokerage Comparison

Dukascopy Bank vs IronFX Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$1000MT4, JForex500+FINMA
$100MT4200+FCA, CySEC, ASIC, FSCA

Dukascopy Bank vs IronFX Comparison

Each offers trading on MetaTrader 4 (MT4). On this platform trader can execute their own trades or use and build online trading robots, called Expert Advisors (EAs). Both allow the trader to execute EAs. Dukascopy Bank additionally provides JForex, which is a platform which also allows the trader to build trading robots in a different language and to run them (and to plan and execute their own trades).

IronFX offers STP/ECN accounts, and a range of other accounts. Dukascopy Bank focuses on providing ECN trading operating its SWFX Marketplace ECN. On MT4, IronFX has more markets to trade than Dukascopy Bank on MT4 and a wider range, while on JForex, Dukascopy Bank has more markets than Iron FX (on MT4).

Dukascopy Bank is regulated by the FINMA in Switzerland. IronFX is regulated by the FCA in the United Kingdom, the CySEC in Cyprus and the ASIC in Australia.

Quick comparison

Both offer MT4, while Dukascopy Bank additionally provides JForex. Overall Dukascopy Bank has more markets, while IronFX has more on MT4.

Minimum deposit and account types

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

  • 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.
  • IronFX offers a range of account types and services. These include a Micro account which has a minimum deposit of $100, a Premium account with a minimum deposit of $2,500 and a VIP account with a minimum deposit of $20,000. These three account types are available with fixed or variable spreads and the spreads can be tighter on higher account types. The minimum trade size is 0.01 lots except for the Premium and VIP accounts where it is 0.1 lots.
  • IronFX also offers a Zero Fixed Spread account. This provides zero spreads for some markets, with commissions charged. As well, IronFX offers STP/ECN accounts with or without commissions. It also has an STP/ECN Absolute Zero account, with spreads from zero, with no commission charge. For the Zero Fixed Spread account and the STP/ECN account, the minimum deposit is $500. The minimum deposit for the Absolute Zero account is upon request to the account manager.
  • All IronFX accounts offer a dedicated account manger, technical analysis reports, investor education tools and private one-on-one trading guidance. The Premium, VIP, STP/ECN No Commission and STP/ECN Zero Spread accounts also offer a dealing department transaction hotline.

Markets

  • Dukascopy Bank offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks and Soft Commodities, with 500+ available. On MT4, Dukascopy Bank has 40+ Forex pairs.
  • IronFX on MT4 offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks and Soft Commodities, with 200+ available.

Cryptocurrency CFDs

  • Dukascopy Bank offers Bitcoin and Ethereum.
  • IronFX offers Bitcoin, Ethereum, Litecoin, Ripple and ADA.

Spreads and leverage

  • Both brokers can offer low Forex spreads plus a commission charge. IronFX can offer Forex spreads from 0.5 without a commission charge (on its VIP account).

Maximum leverage for Dukascopy Bank (FINMA regulated) is 200:1. Maximum leverage for IronFX (FCA or CySEC regulated) is . Maximum leverage for IronFX (ASIC regulated) is 1000:1.

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.
  • IronFX has a commission charge from $6.75 per lot per side.

Trading Platforms

Both offer MT4. Dukascopy Bank additionally provides JForex.

Why Dukascopy Bank or IronFX ?

Traders wishing to run (and build in MQL4) Expert Advisors (EAs) on MT4 can do so at either Dukascopy Bank or IronFX, though IronFX has a wider range of markets on this trading platform. Dukascopy Bank also offers JForex, which lets the traders run and build robots in a language based on Java. On JForex, Dukascopy Bank has more markets to trade. JForex also has a relatively wide range of technical indicators inbuilt on the platform.

Comparison summary

  • Both have CFD trading
  • Each offers MT4
  • Dukascopy Bank additionally provides JForex
  • On MT4, IronFX has a wider range of markets
  • Dukascopy Bank offers more markets on JForex
  • IronFX has a lower minimum deposit

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