Is Dukascopy Regulated by the Mas as of 2024

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Dukascopy is a forex and CFD broker offering online trading services to traders and investors worldwide. The broker provides a diverse range of trading instruments, including Stocks, crypto, indexes, stocks, bond, energy, commodities, and ETF. It also supports multiple trading platforms and tools such as MT4, MT5, FOREX,Apple iOS,Web,Android.

Dukascopy is regulated by several authoritative bodies such as FINMA, FSA . However, Dukascopy is not regulated by the MAS ( Monetary Authority of Singapore). In this article, we will explore Dukascopy’ regulations, and its features, and provide a list of alternative brokers that are regulated by MAS.

Does Dukascopy Operate Under MAS?

No, Dukascopy does not operate under MAS (Monetary Authority of Singapore) regulation. However, the broker is regulated by several other reputable financial authorities including  FINMA, FSA. These regulatory bodies ensure compliance with various standards for financial stability, transparency, and investor protection, though they do not provide the specific protections offered by the MAS in Singapore.

What Other Regulations Does Dukascopy Have?

FINMA:

Dukascopy is regulated by the Swiss Financial Market Supervisory Authority (FINMA). FINMA, established in 2009, is Switzerland’s independent financial regulatory body responsible for supervising banks, insurance companies, and financial intermediaries to ensure the stability of financial markets.

FINMA requires Dukascopy to comply with strict standards of financial security, including maintaining sufficient capital, protecting client funds by segregating them from company assets and ensuring transparent and accurate financial reporting. FINMA’s oversight ensures that Dukascopy operates with integrity and reliability, providing a secure trading environment for clients in Switzerland.

FSA (Japan)

FSA regulation refers to the rules and oversight provided by the Financial Services Agency (FSA) of Japan. Established in 2000, the FSA supervises financial institutions including banks, insurance companies, and forex brokers to ensure the stability and fairness of Japan’s financial system. It works to protect investors and maintain confidence in the market.

Financial service providers, such as forex brokers, must be licensed by the FSA to operate in Japan. The FSA enforces strict standards on capital requirements, risk management, and transparency. It requires firms to segregate client funds to ensure their protection and implement robust measures to prevent financial misconduct. By enforcing these regulations, the FSA plays a key role in upholding market integrity and safeguarding investor interests.

Best MAS Regulated Forex Brokers: Alternatives to Dukascopy

Dukascopy is one of the leading forex and CFD brokers. The broker is not regulated by MAS. It is regulated by other top-tier regulators including FINMA , FSA . There are several MAS  regulated brokers that can serve as alternatives to Dukascopy. These brokers include: 

Forex.COM

Forex.COM

  • Founded In:  2001
  • Minimum Deposit: $100
  • Maximum Leverage: 50:1
  • Regulations: CySEC, CFTC, NFA, CIMA, FCA, FSA, MAS, ASIC, CIRO
  • Trading Platforms : Mobile App, Web Trader, Meta Trader 5 
  • Trading Instruments: Forex, Indices, Stocks , Cryptocurrency, Commodities , Gold and Silver.
MultiBankFX

MultiBankFX

  • Founded In:  2005
  • Minimum Deposit: $50
  • Maximum Leverage: 1:500
  • Regulations: ASIC, Austrac, Bafin, CIMA, ESCA,  CySEC, FSC, FMA, MAS, TFG,  VFSC, FSCM, FSAS
  • Trading Platforms: MT4, MT5, Multibank-Plus
  • Trading Instruments: Forex, Metals, Shares,  indices, Commodities, Cryptocurrencies
IG

IG

  • Founded In:  1974
  • Minimum Deposit: $0
  • Maximum Leverage: 1:200
  • Regulations: ASIC, FCA, JFSA, SFC (Hongkong), FSCA, MAS, FMA, GmbH, FINMA 
  • Trading Platforms: MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
  • Trading Instruments: Forex, indices, Cryptocurrencies, Shares, Commodities
CMC Markets

CMC Markets

  • Founded In:  1989
  • Minimum Deposit: $0
  • Maximum Leverage: 1:500
  • Regulations : FCA, ASIC, BaFin, IIROC, FMA, MAS
  • Trading Platforms : MT4 , Share trading platforms
  • Trading Instruments: Forex Major, Forex Crosses, Forex Minor, Metals, Oil , CFD, Stock indices
Interactive Brokers

Interactive Brokers

  • Founded In: 1978
  • Minimum Deposit: $0
  • Maximum Leverage: 1:500
  • Regulations: SEC, CFTC, FCA, FSCS, FINRA, FCM, IIROC, MAS, FSA
  • Trading Platforms : WebTrader, FIX API, MobileTrader
  • Trading Instruments: Stocks, options, futures, currencies, bonds, and funds

These brokers operate under MAS regulation. According to MAS rules, they offer leverage up to 30:1 and provide negative balance protection for retail traders. To learn more about MAS-regulated forex brokers, you can read our content on the best MAS-regulated forex brokers.


How Can I Verify If My Broker is regulated by MAS or Not?

To verify if your broker, such as Dukascopy, is regulated by the MAS, follow these steps:

Step 1: Obtain the Broker’s License Number or Name

The first step in verifying whether a broker is MAS-regulated is to gather the necessary details from the broker’s official website. Look for the broker’s licensed or reference number, which is typically listed in the footer, legal section, or “About Us” page. If the license number is not available, the broker’s name can also be used for verification. Having the correct license number or name ensures a more accurate search when checking the broker’s regulatory status.

Step 2: Search the MAS Financial Institutions Directory

Once you have the broker’s license number or name, visit the official MAS Financial Institutions Directory at https://eservices.mas.gov.sg/fid. Enter the license number or the broker’s name into the search bar and hit enter. This directory contains all MAS-regulated entities, and your search results should show the broker’s profile if they are indeed regulated. This step is critical for confirming that the broker you are considering operates legally under MAS oversight.

Step 3: Check License Type and Status

After locating the broker in the MAS directory, carefully review their profile. Look specifically for the license type and status to ensure that the broker is authorized to offer the services you need. If you are trading forex, verify that the broker is licensed to provide “Spot Foreign Exchange Contracts for Leveraged Forex Trading” under “Dealing in Capital Markets Products.” This step confirms that the broker has the necessary permissions to legally offer forex trading and other related financial products.

Step 4: Verify Broker Contact Details

Another essential step is to ensure that the contact details listed on the MAS website match those provided by the broker on their own site. Pay close attention to details such as the broker’s website URL, email address, and phone number. If the contact details differ, it could indicate that you are dealing with an unauthorized broker or a clone firm that is pretending to be MAS-regulated. Verifying these details helps protect you from potential scams or unauthorized firms.

Step 5: Stay Away from Unlisted Brokers

If you cannot find the broker in the MAS directory, this is a red flag. Brokers that are not listed are likely unauthorized, and trading with them can put your funds at serious risk. Unauthorized brokers often operate without regulatory oversight, meaning they may not adhere to client fund protection rules, leaving your investments exposed. Always stay away from brokers that are not listed in the MAS directory to ensure your money remains safe.

Frequently Asked Questions ( FAQs)

What is Dukascopy?

Established in 2004, Dukascopy is a Swiss-based online forex broker with headquarters in Geneva, Switzerland, and international offices in Japan and Latvia. The broker has held a Swiss bank license since 2010. Dukascopy offers MT4, MT5, and its own proprietary trading platform named JForex. Regulated by FINMA (Switzerland) and JFSA (Japan), the broker is renowned for its advanced trading technology and transparent pricing model. Dukascopy supports various trading strategies like scalping, hedging, and news trading, and also provides PAMM accounts. Moreover, it offers a range of educational resources to assist traders in enhancing their skills.

Is Dukascopy Considered Safe?

Yes, Dukascopy is considered safe. Though Dukascopy is not regulated by MAS, it is regulated by other reputed regulatory authorities including FINMA , FSA . These regulations ensure strict compliance with industry standards and provide protection for client funds.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

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