Dukascopy vs LMFX | Our Analysis & Comparison in 2024

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Dukascopy vs LMFX: In a Nutshell

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.

Dukascopy Overview
  • Founded In: 2004
  • Minimum Deposit: $100
  • Maximum Leverage: 200:1
  • Regulations: FINMA
  • Trading platform: MT4/MT5, JForex4
  • Account Types: 
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Bank Gurantees, Credit/Debit Card, Cryptocurrency, Maestro, Neteller, Skrill
  • US Traders: Not Accept

LMFX

Traders who desire high leverage, multiple payment options, or even fixed spreads should consider trading with LMFX. Founded in 2015, the broker has successfully operated without hitches while growing its client base through the delivery of excellent services. Trading fees are low and there is an account type for every broker. 

Dukascopy vs LMFX : Side By Side Comparison

Dukascopy
LMFX
Product
Founded In
Founded In
2004
2015
Founded By
Founded By
Andre and Veronika Duka
Carter Anthony Smith
Headquarters
Headquarters
Geneva, Switzerland
Skopje, North Macedonia
Regulations
Regulations
FINMA
None
Min Deposit
Min Deposit
$100
$50
Max Leverage
Max Leverage
1:200
1000:1
Tradable Assets
Tradable Assets
1200+ trading instruments Forex, indices, Stock, bonds, commodities, Energy, ETF,
Forex, stocks, indices, and commodities.
Fees
Fees
Spread from
Spread from 1.0 pips
Platforms and Tools
Platforms and Tools
MT4/MT5, JForex4
MT4, WebTrader
US Traders
US Traders
Not Allow
Allowed

Dukascopy vs LMFX: Pros and Cons

Dukascopy Pros & Cons

Dukascopy
LMFX
Product
Founded In
Founded In
2004
2015
Founded By
Founded By
Andre and Veronika Duka
Carter Anthony Smith
Headquarters
Headquarters
Geneva, Switzerland
Skopje, North Macedonia
Regulations
Regulations
FINMA
None
Min Deposit
Min Deposit
$100
$50
Max Leverage
Max Leverage
1:200
1000:1
Tradable Assets
Tradable Assets
1200+ trading instruments Forex, indices, Stock, bonds, commodities, Energy, ETF,
Forex, stocks, indices, and commodities.
Fees
Fees
Spread from
Spread from 1.0 pips
Platforms and Tools
Platforms and Tools
MT4/MT5, JForex4
MT4, WebTrader
US Traders
US Traders
Not Allow
Allowed

LMFX Pros & Cons

Pros
  • The maximum leverage is as high as 1:1000.
  • Tight Spread Starting from 0  pips 
  • Free VPS for high-volume traders.
  •  Allow Scalping, News Trading, EA Trading
  • Does not have any FIFO Restrictions 
  • Deposit bonus and other bonuses.
  • Due to the absence of regulatory restrictions, the broker is open to clients worldwide
  • Multiple payment options including crypto and e-wallets.
  • 4 Types of accounts available ( Premium, Micro, Fixed Zero)
  • Traders are supported with trading tools like calculators, economic calendars, etc.
Cons
  • Not Regulated by Any Authority 
  • Crypto CFDs are not available to Trade 
  • No Investor Protection Scheme 
  •  No access to MetaTrader 5. Only MT4 and Webtrader are available. 
  • The minimum deposit for bank wire transfers is $250
  • Managed Accounts and Social Trading (MAM, PAMM Accounts) are not Available

Dukascopy Vs LMFX: Our Scores and Ratings

We rated both brokers, Dukascopy and LMFX, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

Dukascopy:

8.2
Dukascopy Score
Regulation and Security (40%)8
Fees and Commissions (20%)8
Trading (15%)9
Trading tools (10%)7
Customer Support (10%)9
Trading Education (5%)9

LMFX

3.6
LMFX Scores
Regulation and Security (40%)1.5
Fees and Commissions (20%)6.5
Trading (15%)6
Trading tools (10%)1
Customer Support (10%)5
Trading Education (5%)3

Final Verdict :

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.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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