Forex traders always look for trading with brokers that suit their trading needs and preferences. Dukascopy and OspreyFX are online forex brokers that offer their trading services to traders and investors. Dukascopy is a highly regulated and trusted forex broker. It is regulated in two tier-1 jurisdictions. On the other hand, OspreyFX is an offshore forex broker which is not regulated by any regulatory bodies.
In this article, we will review and compare the brokerage services offered by Dukascopy and OspreyFX. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.
Dukascopy vs Ospreyfx: 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
OspreyFX
Founded in 2018, OspreyFX is a regulated forex broker headquartered in Saint Vincent and the Grenadines. It operates as an offshore forex broker, offering leverage as high as 500:1. OspreyFX supports all trading styles; including scalping, hedging, news trading, copy trading, and algorithmic trading. Currently, it uses TradeLocker as its trading platform. The broker provides a wide range of trading instruments, such as forex, Indices CFDs, Metal CFDs, Commodities CFDs, Cryptos CFDs, and Share CFDs (US and EU). Being an offshore forex broker it can onboard clients from anywhere in the world, including the USA. However, the broker only accepts crypto deposits and withdrawals.
OspreyFX Overview
- Founded In: 2019
- Trading Instruments: 120+ including Forex, Crypto, Stocks, Indices, Commodities
- Minimum Deposit: between $25 and $500 (Depending on Account Type)
- Maximum Leverage: 1:500
- Regulations: None
- Trading Fees: Starting from 0.1 Pips
- Deposit and Withdrawal Fees: $0
- Trading platform: TradeLocker
- Account Types: 4 account types such as Standard ECN, Pro ECN, VAR, Mini
- Payment Options: Bitcoin, Crypto, Credit/Debit Cards, and PayRedeem
- US Traders: Accepted
Dukascopy vs OspreyFX: Side By Side Comparison
Dukascopy vs: OspreyFX Features
Dukascopy
- Trading Instruments: 1200+ trading instruments including FOREX, ENERGY, CRYPTO, METALS, INDEXES, BONDS, STOCKS
- Maximum Leverage: The maximum leverage of Dukascopy is 200:1. However, leverage may vary based on equity, assets, jurisdiction, and account type
- Minimum Deposit: The minimum deposit of Dukascopy is $100
- Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread starts from 0.1 pips on EUR/USD. The standard fee is $0.5 per 1 MT4 lot ($5 per $1 million).
- Account Types: Two ( Live account, Demo Account)
- PAMM: Available
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
OspreyFX
- Trading Instruments: 120+ trading instruments including Forex (Major, Exotics, Crosses), Indices, Metals, Commodities, Cryptos, Shares (US, EU)
- Maximum leverage: 500:1
- Minimum Deposit: $10
- Account Types: 3 (Standard, Pro, Var)
- Trading Fees: Spread starting from 0.4 pips or commission from $1 to $8
- PAMM/ MAM:Â Not Available
- Scalping: AllowedÂ
- News Trading: Allowed
- EA/ Robot Trading: Allowed
Dukascopy vs OspreyFX: Pros and Cons
Dukascopy Pros & Cons
- Regulated by FINMA and JFSA.
- Allows hedging, scalping, EA trading, and news trading.
- Offers a variety of trading platforms including MT4, MT5, and Jforex.
- Provides over 1200 trading instruments including forex, cryptos, and CFDs.
- Dukascopy Bank provides banking services, bonuses, and trading contests for its traders.
- Swiss Bank deposit protection up to CHF 100,000 per client.
- Low spreads starting from 0.1 pips on EUR/USD.
- Maximum leverage is as high as 200:1.
- Demo accounts are available.
- Islamic accounts are offered.
- Wide range of trading orders: MIT, limit orders, OCO, and TP/SL orders
- Minimum deposit $100 is high for beginner
- Limited top tier regulations ( NO FCA, CySEC Regulation)
- Higher Trading Commission for Islamic Traders
- Charges inactivity fees
- Limited Educatinal Tools and Resources.
OspreyFX Pros & Cons
- The Maximum Leverage is as high as 1:500
- ECN STP broker model
- Faster Trade Execution with Tradelocker
- Offers Multiple Account Types including, Demo accounts and Live Accounts
- Rebates and Rewards are Available for Live Trading Accounts
- Accounts can be funded with multiple crypto coins such as BTC, ETH, LTC, USDT, DOGE, etc.
- Professional traders who can prove their competence may receive funded accounts up to $200,000 and earn up to 80% of their profits.
- Unregulated Offshore Forex Broker
- No Metatrader (MT4, MT5) Trading Platfroms.
- Offers Only Tradelocker Trading Platform
- Limited Deposit and Withdrawal Methods (Cryptos, PayRedeem)
- No managed accounts or Social Trading (MAM, PAMM) Offered
- Live chat is a bit complex. To contact the chat operator, you need to first answer a series of questions from the virtual bot each time.
Dukascopy Vs OspreyFX: Our Scores and Ratings
We rated both brokers, Dukascopy and OspreyFX, 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:
OspreyFX
Final Verdict :
Both Dukascopy and OspreyFX offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. Dukascopy is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including FINMA and JFSA. On the other hand, OspreyFX is an unregulateMT4, MT5, FOREX,Apple iOS,Web,Android. On the Contrary, OspreyFX does not offer MT4/MT5. It uses only TradeLocker as its trading platform.
As Dukascopy is not licensed in the USA, it cannot accept US clients. Being an unregulated offshore forex broker, OspreyFX can onboard clients from anywhere in the world, including the USA. Therefore, non-US traders may opt for Dukascopy, while US traders looking for offshore forex brokers may consider OspreyFX. Trading with offshore forex brokers is risky and not recommended.
