Dukascopy Bank vs XM - Online Brokerage Comparison

Dukascopy Bank vs XM | Compare Trading Brokers

Dukascopy Bank vs XM Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulation
$1000MT4, JForex500+FINMA
$5MT4, MT51000+CySEC, ASIC, IFSC

Dukascopy Bank vs XM Comparison

Dukascopy Bank provides ECN trading on MT4 and JForex. XM offers trading on MT4 and MT5. Both have no dealing desk intervention. XM has a wider range of account types, covering its XM Zero account (which can offer low Forex spreads plus a commission charge) and a Standard and Micro (cent) account.

XM's Micro account can offer very low trade sizes, which means that traders can trade with a smaller account size and hence this account has a very low minimum deposit (as does the Standard account) of $5. Overall XM can offer more markets on MT5 (and MT4 vs MT4) as it has 1000+ on MT5 vs 500+ for Dukascopy Bank on JForex.

Dukascopy Bank offers traders access to the SWFX Marketplace of liquidity, which it operates. Dukascopy Bank is regulated by the FINMA in Switzerland. XM is regulated by the CySEC in Cyprus, the ASIC in Australia and the IFSC in Belize.

Quick comparison

Both offer MT4. XM also provides MT5 and Dukascopy also offers JForex. On MT5, XM has more markets overall, though Dukascopy Bank has a relatively large number for an ECN provider.

Minimum deposit and key account features

The minimum deposit for Dukascopy Bank is $1000. The minimum deposit for XM is $5.

  • 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.
  • XM CySEC regulated offers three account types, a Micro and a Standard account, both with minimum deposits of $5 and the XM Zero account, with a minimum deposit of $100. An Islamic account is available for each account type. The Micro and Standard accounts do not charge commissions, the XM Zero account does charge commissions. The Micro and Standard accounts differ in terms of order sizes available. The minimum trade size is 0.0001 lots.
  • XM ASIC regulated offers the XM Ultra Low account instead of the XM Zero account. XM IFSC regulated offers the Micro, Standard and Ultra Low accounts and a Shares account (with real Shares to own). The minimum deposit for the Ultra Low account is $50. The minimum deposit for the Shares account is $10,000.
  • XM offers an economic calendar, a personal account manager, video tutorials, daily technical analysis, Forex market research and daily Forex signals, trading tools, market outlook and webinars. XM allows EAs, hedging and scalping.

Markets

  • Dukascopy Bank offers Forex, Indices, Metals, Energy, Cryptocurrencies, Soft Commodities and Stocks, with 500+ available on JForex. On MT4, Dukascopy Bank offers 40+ Forex pairs.
  • XM offers Forex, Indices, Metals, Energy, Cryptocurrencies, Soft Commodities and Stocks, with 1000+ available on MT5. There are 100+ available on MT4, as it does not offer Stocks or Cryptocurrency CFDs. The XM Zero account has Forex, Gold and Silver, with 55+

Dukascopy Bank provides 60+ Forex pairs, XM provides 60+ Forex pairs.

Cryptocurrency CFDs

  • Dukascopy Bank offers Bitcoin and Ethereum CFDs.
  • XM offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple CFDs.

Leverage

  • Maximum leverage for Dukascopy Bank (FINMA regulated) is 200:1. Maximum leverage for XM (CySEC regulated) is . Maximum leverage for XM (ASIC regulated) is 500:1. Maximum leverage for XM Global is 888:1.

Commission charges

  • 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.
  • The XM Zero account charges commission of $3.5 per lot per side.

Online trading platforms

Both offer MT4. Dukascopy Bank also provides JForex while XM also offers MT5.

Why Dukascopy Bank or XM ?

For traders who wish to trade with small account sizes, XM offers a cent account which allows small trade sizes below standard Forex micro lot and also has a very low minimum deposit. For traders who wish to trade with trading robots, both offer two platforms with this facility. Dukascopy Bank focuses on ECN trading only and provides an ECN trading environment potentially conducive to those who wish to trade automated trading strategies. This said, XM has its XM Zero account (at XM CySEC regulated) which can offer access to ECN caliber spreads. Overall XM has more markets, but Dukascopy Bank has a very competitive number for an ECN provider.

Comparison summary

  • Both offer CFD trading
  • Each has MT4
  • XM also provides MT5
  • Dukascopy additionally offers JForex
  • On MT4, XM has more markets
  • JForex vs MT5, XM has more markets
  • Dukascopy offers traders access to the SWFX Marketplace of liquidity
  • Each offers trading with a commission charge
  • Both support automated trading on all trading platforms
  • XM has a cent type account, which has very low trade sizes
  • XM has the lower minimum deposit
  • Given that it offers ECN trading, Dukascopy Bank has a relatively large number of markets

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