Dukascopy Bank vs RoboForex - Online Brokerage Comparison

Dukascopy Bank vs RoboForex | Trading Brokers Comparison

RoboForex vs Dukascopy Bank Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$1000MT4, JForex500+FINMA
$10MT4, MT5, cTrader, R Trader Web Trader9000+IFSC

Dukascopy Bank vs RoboForex Comparison

Both of these brokers let traders use automated trading strategies. Dukascopy Bank offers MetaTrader 4 (MT4) and JForex. RoboForex provides MT4, MT5, cTrader and R Trader. All these online trading platforms allow the trader to run and build online trading robots, using different languages or ways to build robots.

R Trader uses a strategy builder which does not require the trader to program and lets the trader run robots on the cloud 24/7 (i.e. they do not need a VPS). Dukascopy Bank however operates the SWFX Marketplace, which uses centralisation around the decentralised Forex market. Dukascopy Bank has this because it is a bank but lets traders have access to it. Both brokers can thus provide very low spreads for the more liquid Forex pairs, but in return for access to this liquidity charge a commission. Each has competitive commission charges.

As a 'pure' ECN broker, Dukascopy Bank has a relatively large number of markets to trade (500+). RoboForex has considerably less on its accounts except for R Trader, where it has considerably more (as this platform has a large number of Stocks CFDs, in addition to other markets). On R Trader, RoboForex also has an expanded range of Cryptocurrency CFDs, though Dukascopy Bank can offer both Bitcoin and Ethereum CFD (when trading a Crypto CFD, the trader does not own any cryptocurrency and thus does not need a wallet, can go long or short and use leverage, though increasing leverage increases risk). Dukascopy Bank is regulated by the FINMA in Switzerland. RoboForex is regulated by the IFSC in Belize.

Dukascopy EU

Dukascopy EU is a subsidiary of Dukascopy Bank regulated in Latvia. It has a similar features, but differences include a smaller minimum deposit and lower maximum leverage. More information about Dukascopy EU can be found in the Dukascopy EU review.

Quick comparison

Both brokers offer MT4. Dukascopy Bank additionally offers JForex while RoboForex additionally provides MT5, cTrader and R Trader. Dukascopy Bank has a higher minimum deposit.

Minimum deposit and account types

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

  • 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.
  • RoboForex offers accounts based around its four platforms, MT4, MT5, cTrader and R Trader. cTrader has an ECN-Pro and Pro-Standard account. MT4 and MT5 each offer a Pro-Standard, Pro-Cent and ECN-Pro account. MT4 additionally offers an MT4 Prime account. RoboForex's R Trader is a web trading platform, which has many more markets available than the other accounts. RoboForex also offers a CopyFx account (which supports transaction copying) and a RAMM account (which supports strategy copying).
  • RoboForex's minimum deposit for all accounts except R Trader and MT4 Prime is $10. The minimum deposit for R Trader is $100 and MT4 Prime is $5,000. The Prime account is an ECN account with lower commission charges. RoboForex offers an Islamic (Swap Free) version for some of these accounts. Micro lot trading is available.
  • RoboForex provides RoboForex Analytics on its website. This offers a range of tools including analysis, signals, videos and education. It offers StrategyQuant for building MT4 robots and the R Trader Strategy Builder.

Markets

  • Dukascopy Bank offers Forex, Indices, Energy, Metals, Stocks, Cryptocurrencies and Soft Commodities, with 500+ available.
  • RoboForex's Cent account offers Forex and Precious Metals, for a total of 35+.
  • RoboForex's Standard and ECN accounts offer Forex, Indices, Energy, Precious Metals and Cryptocurrencies, for a total of 45+.
  • On its R Trader account, RoboForex offers Forex, Indices, Cryptocurrencies, Stocks and ETFs, for a total of 9,000+.

Dukascopy Bank provides 60+ Forex pairs, RoboForex provides 45+ Forex pairs.

Cryptocurrency CFDs

  • Dukascopy Bank offers Bitcoin and Ethereum.
  • RoboForex offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Monero, NEO, IOTA, Bitcoin Gold, QTUM, Dash, EOS, Golem and OmiseGO CFDs.

Spreads and leverage

  • Both brokers offer Forex spreads from 0 plus a commission charge. RoboForex also offers Forex spreads from 1.3 without a commission charge.

Maximum leverage for Dukascopy Bank (FINMA regulated) is 200:1. Maximum leverage for RoboForex (IFSC regulated) is 2000:1.

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.
  • RoboForex's commissions are $2 per standard lot per side for its ECN accounts except for its Prime account where they are $1.5 per standard lot per side.

Trading Platforms

Both brokers offer MT4. Dukascopy Bank additionally provides JForex, RoboForex provides MT5, cTrader and R Trader.

Why Dukascopy Bank or RoboForex ?

Dukascopy Bank offers ECN trading, providing traders with access to the SWFX Marketplace of liquidity and charging a commission for doing do. RoboForex has a range of account types, which include an ECN account and a Cent account. Most of RoboForex's accounts have a very low minimum deposit requirement. Dukascopy Bank has a considerably higher minimum deposit. So traders who want to trade with a small account size and with small trade sizes (as RoboForex offers a Cent account) may wish to consider RoboForex. Dukascopy is particularly suited to automated traders as it places no restrictions on trading and provides high speed order execution into its liquidity pool. However both of its platforms can be used by traders who execute their own trades (versus using robots). JForex in particular has a large number of technical indicators built into the platform. Traders who do not wish to trade with a commission charge may wish to consider RoboForex as it offers accounts which both charge and do not charge commissions. However the commission charge is automatically deducted from the trade at Dukascopy Bank and the human trader can also trade with a commission charge.

Comparison summary

  • Both provide CFD trading
  • Each offers MT4
  • Dukascopy Bank additionally provides JForex
  • RoboForex additionally offers MT5, cTrader and R Trader
  • Relative to most of RoboForex's accounts, Dukascopy Bank has more markets to trade
  • On the R Trader platform, RoboForex has considerably more markets
  • Each broker supports automated trading on all platforms
  • Dukascopy Bank is regulated by the FINMA in Switzerland, RoboForex is regulated by the IFSC in Belize

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