Does Dukascopy Offer Crypto Trading as of 2024

Dukascopy is one of the most regulated forex and CFD brokers, offering online trading services to traders and investors worldwide. The broker is regulated by multiple authorities, including FINMA, FSA. Dukascopy provides over 1,200+ trading instruments, including Forex, indices, Stock, bonds, commodities, Energy, ETF. If you are a crypto trader, you might be wondering if Dukascopy offers crypto trading.

The answer is “Yes,” Dukascopy offers crypto trading. The broker provides a range of popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, and more. However, it offers cryptocurrencies as CFDs. In this article, we will explore Dukascopy’s crypto trading offerings, including available cryptocurrencies, the pros and cons of trading crypto with Dukascopy, the supported trading platforms, and the charges associated with trading cryptocurrencies on Dukascopy. By the end of this article, a trader should have a clear understanding of whether Dukascopy is the right broker for their crypto trading needs.

Can I Trade Cryptocurrencies on Dukascopy?

Yes, you can trade cryptocurrencies on Dukascopy. The broker allows traders to access the cryptocurrency market without the need for a digital wallet or trading on a cryptocurrency exchange. With an Dukascopy trading account, you can trade popular cryptocurrencies such as Bitcoin, Ethereum, XRP (Ripple), Bitcoin Cash, Litecoin, and more. However, Dukascopy offers cryptocurrencies as CFDs, not as real assets.

How to Trade Cryptocurrencies with Dukascopy?

Cryptocurrency trading has gained significant popularity as digital currencies like Bitcoin, Ethereum, and Litecoin have become mainstream. Trading these volatile assets can be profitable, but it requires a solid understanding of the market and the right platform. Dukascopy is one such platform that offers a user-friendly experience for both novice and experienced traders. Here’s a comprehensive guide on how to trade cryptocurrencies with Dukascopy.

Step 1: Open a Live Trading Account

To start trading cryptocurrencies with Dukascopy, you first need to open a live trading account. This process is simple and straightforward:

1. Visit the Dukascopy Website: Go to the official Dukascopy website and click on the “Join Now” or “Open an Account” button.
2. Complete the Registration Form: Fill in the necessary details such as your name, email address, phone number, and country of residence.
3. Verify Your Identity: Submit the required documents for identity verification. This typically includes a government-issued ID and proof of address.
4. Set Up Your Account: Choose your account type, leverage, and base currency. Dukascopy offers various account types to suit different trading needs.

Step 2: Deposit Funds:

Once your account is set up and verified, the next step is to fund your trading account.

• Minimum Deposit: The minimum deposit required by Dukascopy is $200 or the equivalent in your chosen base currency.
• Deposit Methods: Dukascopy offers multiple deposit methods, including bank transfers, credit/debit cards, and various e-wallets such as PayPal and Skrill.
• Processing Time: Deposits via credit/debit card and e-wallets are usually processed instantly, while bank transfers may take a few business days.

Step 3: Choose Your Platforms:

Dukascopy provides a variety of trading platforms to support different trading styles and preferences. You may choose any of the trading platforms, including MT4, MT5, cTrader, or TradingView. Additionally, Dukascopy offers multiple trading tools for the convenience of traders, including Smart Trader Tools, cTrader Automate, Autochartist, Algorithmic trading, API trading, and VPS hosting. You can use any of these tools based on your requirements.

• MetaTrader 4 (MT4): A popular platform known for its user-friendly interface, advanced charting tools, and automated trading capabilities.
• MetaTrader 5 (MT5): An upgraded version of MT4, offering additional features like improved charting tools, more order types, and a built-in economic calendar.
• cTrader: A platform designed for experienced traders, cTrader offers advanced order types, level II pricing, and fast order execution.
• TradingView: Known for its powerful charting capabilities and social trading features, TradingView is integrated with Dukascopy for seamless trading.

Step 4: Pick a Crypto You Want to Trade:

Dukascopy offers a selection of popular cryptocurrencies for trading:

• Bitcoin (BTC): The first and most well-known cryptocurrency.
• Ethereum (ETH): A leading altcoin known for its smart contract functionality.
• Litecoin (LTC): Often referred to as the silver to Bitcoin’s gold, Litecoin offers faster transaction times and a different hashing algorithm.

Step 5: Open Position:

Once you’ve chosen your desired cryptocurrency, you can open a trading position:

1. Select Your Cryptocurrency: Choose the crypto pair you want to trade (e.g., BTC/USD, ETH/USD).
2. Analyze the Market: Use the various charting tools and technical indicators available on your chosen platform to analyze the market and make informed trading decisions.
3. Place Your Order: Decide whether you want to go long (buy) or short (sell) based on your market analysis. Enter the trade size, set your stop-loss and take-profit levels, and place your order.

Step 6: Monitor and Manage Your Trade:

Active management of your trades is crucial for successful trading:

• Monitor the Market: Keep an eye on market movements and news that could affect the price of your chosen cryptocurrency.
• Adjust Your Stop-Loss and Take-Profit: As the market moves, you may need to adjust your stop-loss and take-profit levels to lock in profits or limit losses.
• Use Trading Tools: Utilize the various trading tools and features offered by Dukascopy, such as trailing stops, alerts, and automated trading systems.

Step 7: Close Your Trade:

Finally, when you have achieved your desired profit or need to limit your losses, you should close your trade:

• Close the Position: Go to the open positions tab on your trading platform and select the trade you want to close. Confirm the closure, and your trade will be settled.
• Withdraw Your Funds: If you wish to withdraw your profits, you can do so through the same methods you used to deposit funds. Withdrawals may take a few business days to process, depending on the method chosen.

What are the Most Popular Crypto CFD Pairs on Dukascopy?

Dukascopy offers traders the opportunity to trade the most popular cryptocurrencies without the need for a digital wallet or trading on a cryptocurrency exchange. This makes it convenient for traders to access the cryptocurrency market while leveraging the advanced tools and platforms provided by Dukascopy. The broker offers a variety of major, minor, and crypto indices to trade. Here are some of the most popular cryptocurrency CFDs available on Dukascopy:

Bitcoin (BTC/USD)

Bitcoin is the most well-known and widely traded cryptocurrency in the world. It is often referred to as digital gold due to its high value and limited supply. Trading Bitcoin CFDs on Dukascopy allows you to speculate on the price movements of Bitcoin without owning the actual coins. You can take advantage of both rising and falling markets and use leverage to amplify your potential returns. Bitcoin’s high volatility provides numerous trading opportunities for both short-term and long-term traders. 

Ethereum (ETH/USD)

Ethereum is the second-largest cryptocurrency by market capitalization and is known for its smart contract functionality. It is a favorite among traders due to its technological advancements and active development community. Trading Ethereum CFDs on Dukascopy lets you benefit from price movements without the need to hold physical Ethereum. Ethereum’s price can be influenced by various factors, including technological upgrades, regulatory news, and market sentiment, providing ample opportunities for traders. 

Litecoin (LTC/USD)

Litecoin is often considered the silver to Bitcoin’s gold. It was created to offer faster transaction times and a different hashing algorithm. Litecoin is popular among traders for its price stability compared to some other cryptocurrencies, making it a good choice for those looking for slightly less volatile trading options. By trading Litecoin CFDs on Dukascopy, you can speculate on the price movements and take advantage of the leverage offered, allowing for greater potential profits. 

Other Popular Cryptocurrency CFDs

In addition to Bitcoin, Ethereum, and Litecoin, Dukascopy offers a range of other popular cryptocurrency CFDs. These include Ripple (XRP/USD), Bitcoin Cash (BCH/USD), and Dash (DASH/USD). Each of these cryptocurrencies has unique features and market dynamics, providing diverse trading opportunities. Dukascopy also offers crypto indices, which combine several cryptocurrencies into a single tradable asset, allowing traders to diversify their exposure and manage risk more effectively.

Pros and Cons of Crypto Trading With Dukascopy

Trading cryptocurrencies with Dukascopy, as with any trading platform, comes with its own set of advantages and disadvantages. Here are some pros and cons to consider

Pros:

• Regulated by top-tier regulatory authorities including FINMA, FSA
• Most Popular cryptos are available including Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ripple, and more
• Allows weekend Trading 
• No need for a digital wallet
• You can go long or short both ways
•  Allows leverage 1:5 on all crypto assets

Cons:

• Cryptocurrency market volatility poses high trading risks.
• Only CFDs are available; you cannot own cryptocurrency.
• Digital wallets cannot be held on the platform.
• Leverage can result in substantial losses, potentially wiping out your deposit.
• No guaranteed stop-loss feature.
• Limited leverage of 1:5.
• Not accepting US clients.

What other tradable assets does Dukascopy offer?

Dukascopy offers a comprehensive range of tradable assets primarily through forex and Contracts for Difference (CFDs). These instruments allow traders to speculate on price movements without owning the underlying assets. Here are the main categories and some details about each:

Forex Assets:

Dukascopy provides access to a vast selection of currency pairs, allowing traders to participate in the forex market, the largest financial market in the world. You can trade major pairs like EUR/USD, GBP/USD, and USD/JPY, which are known for their high liquidity and tight spreads. Minor pairs, such as EUR/GBP and GBP/AUD, offer additional opportunities with slightly less liquidity but still significant trading volumes. For those looking for more exotic options, Dukascopy includes pairs like USD/TRY and USD/ZAR, offering higher volatility and potential returns.

Indices:

Trading indices on Dukascopy involves speculating on the performance of major global stock markets through CFDs. This includes prominent US indices like the S&P 500, NASDAQ 100, and the Dow Jones Industrial Average, which reflect the overall health of the US economy. European indices, such as the FTSE 100, DAX 30, and CAC 40, provide insights into economic conditions in Europe. Additionally, Asian indices like the Nikkei 225, Hang Seng, and ASX 200 offer exposure to rapidly growing markets in Asia. By trading index CFDs, you can take positions on the direction of these markets without owning the actual index components.

Currency Indices:

Dukascopy offers CFDs on currency indices, which measure the value of a specific currency relative to a basket of other currencies. For instance, the US Dollar Index (DXY) tracks the performance of the US dollar against a group of major currencies. Similarly, the Euro Index (EXY) and Japanese Yen Index (JXY) provide insights into the performance of the euro and yen, respectively. These indices are valuable tools for traders looking to hedge or diversify their currency exposure without holding the physical currencies.

Shares:

Dukascopy provides CFDs on a wide range of individual shares from major global markets. This includes prominent US companies like Apple, Amazon, and Tesla, which are leaders in technology and innovation. UK shares such as Barclays, BP, and GlaxoSmithKline represent key sectors like banking, energy, and pharmaceuticals. Australian shares, including BHP, Commonwealth Bank, and CSL, offer exposure to the Australian economy and its key industries. Trading share CFDs allows you to benefit from the price movements of these companies without owning the actual shares.

ETFs:

Trading CFDs on Exchange Traded Funds (ETFs) with Dukascopy represents a basket of assets, offering diversification and flexibility. Sector ETFs, like the Technology Select Sector SPDR Fund and Financial Select Sector SPDR Fund, allow you to target specific industries. Country ETFs, such as the iShares MSCI Emerging Markets ETF and Vanguard FTSE Europe ETF, provide exposure to different geographic regions. Commodity ETFs, including SPDR Gold Shares and United States Oil Fund, enable you to trade commodities without directly owning them. ETF CFDs are a versatile tool for building a diversified portfolio without the need to purchase the actual ETFs.

Bond CFDs:

Trading Bond CFDs with Dukascopy allows traders to speculate on bond price movements without owning the actual bonds. This provides opportunities for diversification, leverage, and short selling. Dukascopy offers major bond CFDs such as the US 10-Year Treasury Note, German 10-Year Government Bond, UK Long Gilt, and Euro-Bund.

Metal CFDs:

Dukascopy offers traders the opportunity to trade Metal CFDs (Contracts for Difference). Metal CFDs enable traders to speculate on the price movements of precious and industrial metals without owning the physical assets. This method of trading provides several advantages, including diversification, leverage, and the ability to profit from both rising and falling markets. The traders can access popular metals like gold, silver, platinum, and copper on Dukascopy.

Frequently Asked Questions (FAQs)

Does Dukascopy have crypto trading?

Yes, Dukascopy offers crypto trading on its platforms. It provides access to popular cryptocurrencies like Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ripple, and more.

Does Dukascopy offer direct crypto trading or crypto CFD trading?

Dukascopy offers crypto CFD trading. As a CFD broker, it only provides cryptocurrencies as CFDs.

Do you own crypto on Dukascopy?

No, you do not own cryptocurrency on Dukascopy. You can only trade cryptocurrencies as CFDs.

What is the leverage for crypto trading on Dukascopy?

Dukascopy offers a maximum leverage of 1:5 for crypto trading. This allows you to speculate on the price movements of cryptocurrency CFDs with increased exposure.

What is the minimum deposit for crypto trading with Dukascopy?

The minimum deposit for crypto trading on Dukascopy is $200 or its equivalent. This requirement applies to all types of derivatives trading on the platform.

Can I trade crypto on the weekend on Dukascopy?

Yes, you can trade cryptocurrencies on the weekend on Dukascopy. Crypto trading is available 24/7 on the platform, allowing for continuous market participation.

Is there a crypto wallet on Dukascopy?

No, there is no crypto wallet on Dukascopy. Trading cryptocurrencies on Dukascopy does not require a digital wallet. Since you are trading CFDs, you are speculating on the price movements without actually owning the cryptocurrencies. If you believe the price of a cryptocurrency will increase, you can buy or go long. If the price moves in your favor, you make a profit.

Final Verdict:

Dukascopy offers crypto trading to its clients. The platform provides access to a range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple, among others. The crypto trading features of Dukascopy are designed to meet the needs of both novice and experienced traders. However, Dukascopy offers cryptocurrencies as CFDs, meaning you do not own the cryptocurrencies; instead, you trade them like other derivatives on Dukascopy.

Dukascopy’s crypto trading platform offers several advantages, including low trading fees, fast trade execution, and high liquidity. Additionally, the platform provides customers with a range of trading tools, including MT4, MT5, JForex4.

Dukascopy is a reputable broker that offers a wide range of trading instruments, including cryptocurrencies. The platform’s user-friendly interface, low fees, and fast trade execution make it an attractive option for traders looking to enter the crypto market.