Table of Contents
Briefly Introduction about Dukascopy
Dukascopy has been offering brokerage services for more than 14 years. During this time, it has proved the reliability of its services to thousands of customers repeatedly. The company’s top priorities include high-quality customer service as well as giving its customers the most favorable trading conditions. The Dukascopy broker offers traders one of the most precise quotes available and rapid executions of orders and assets with high liquidity.
A broker firm that deals in forex are an entity that is responsible for managing as well as managing each portfolio of a variety of forex traders across the world. Forex is the biggest trading market worldwide, comprising millions of traders from every possible nation. It is normal for any trader to be overwhelmed by the sheer magnitude and participation of Trading Details, and thus become confused. In the hope to avoid this scenario the concept of a brokerage firm that deals in forex were created so that instead of being tasked with the burden of choosing the best trades, one can take advantage of an agent to handle trade on behalf of one’s for a small portion of the profits.
Commercial venture’s Profits depend on Activities
It has been widely observed that a profitable commercial venture is usually followed by the creation of various related commercial activities closely related to the primary activity and thrives on the success of the main activity. In the same way, brokerage firms for forex can be described as offshoots from the market for trading in forex and because the marketplace continues to expand and expand, more brokerage firms are set up to accommodate the increasing strength of traders. This is why it is crucial for traders who are aspiring to take care when choosing a forex brokerage firm to ensure efficient management of their personal portfolio.
Selection of Brokerage Firms Services
There are many guidelines to be adhered to for the trader in forex selecting a brokerage for forex the most important being the company’s certification as per the regulations agencies to which it has been recognized as well as its history prior to its inception date. These factors play a crucial part in assessing the credibility of the company, as the effectiveness of trading calls will depend on the credibility of the company on the market. Another crucial factor that influences the selection of a forex Brokerage Company is the trading platform that is available and if the client is comfortable working on the platform. A reliable forex brokerage company is one that provides excellent customer service round-the-clock is user-friendly and follows the latest policy for brokerage, offers the possibility of running micro and mini accounts, and provides numerous trading tools and suggestions for customers.
Increasing the Connectivity across Globe
Marginally based currency trading is becoming increasingly popular because of the increase in connectivity across the globe and so are the brokerage firms that provide this service. Before, forex brokers’ responsibilities were limited to serving banks of all sizes as their agents at a time when forex markets were virtually unobtainable for small-scale traders because of high transaction costs. In the age of the internet, Internet has also allowed free circulation of information regarding the market for currency, bringing smaller participants to the forex market in huge numbers.
Investment offering to Traders in Forex Market
Dukascopy provides 653 symbols that can be traded across different markets that include traders in CFD and forex with 60 pairs of forex and 593 CFDs. Dukascopy also allows cryptocurrency trading using CFDs for significant cryptocurrency assets, as well as the actual base (non-CFD) for its own cryptocurrency launched by the company. Dukascopy Bank has over 148 million Swiss francs (CHF) in its assets listed on its balance sheet at the end of June 2019. Additionally, the traders of its Swiss entity can claim 100,000 CHF in insurance coverage from the compensation fund of the regulator ESISUisse. Dukascopy provides CFDs on Bitcoin and Ethereum as well as adopted blockchain technology through the introduction of its own cryptocurrency, dubbed Dukascoin (DUK+). Notice: Bitcoin and Ethereum CFDs will not accessible directly to traders who are retail and who are part of any broker’s UK Company, nor the UK residents.
Expenses of Trading
For the price of trading, Dukascopy competes near the top of forex brokers that offer automated trade and active programs for trading. Dukascopy offers one account type that allows FX trading through the Forex account in which the execution process is different between an agency and a dealing desk. The spreads are identical for all clients of their ECN account commission rates that may depend on the volume of your trades as well as your balance and net deposits. Using average spreads of 0.30 pips for the EUR/USD exchange rate for this US trading session in Q3 2019, and the standard commission of 0.70 pips per turn, the total cost equals one pip. It is comparable to other brokers offering commission-based pricing, like Saxo Bank.
