Forex traders always look for trading with brokers that suit their trading needs and preferences. Dukascopy and ProsperityFX 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, ProsperityFX 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 ProsperityFX. 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 ProsperityFx: 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
ProsperityFX
Founded in 2020, ProsperityFX is an online forex and CFD broker that provides access to over 200 trading instruments on its MT4 platform. The broker supports multiple account types, ECN raw spreads, and fast trade executions. ProsperityFX allows all trading strategies, including scalping, hedging, and news trading. With its crypto-based funding system, traders can deposit and withdraw without extra charges. The broker offers 24/7 customer support, ensuring assistance at any time. To learn more, you can read our review on ProsperityFX
ProsperityFX Overview
- Founded In: 2020
- Minimum Deposit: Between $25 and 500 (Standard Account: $50, Pro: $500, Var: $250, Mini: $25, Islamic:$50
- Maximum Leverage: 500:1
- Regulations: None
- Trading platform: MT4
- Account Types: Standard, Pro, Var, Mini
- Payment Options: VISA, MasterCard, Bitcoin
- US Traders: Accepted
Dukascopy vs ProsperityFX: Side By Side Comparison
Dukascopy vs: ProsperityFX 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
ProsperityFX
- Trading Instruments: Forex, Indices, Commodities, Stocks and Crypto
- Trading Platforms: MT4
- Minimum Deposit: $25
- Maximum Leverage: 1:500
- Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.8 pips for the Standard account, $8 per lot for the Pro account, No Commission for the VAR account, $7 per lot for the Islamic account, and $1 for the Mini account.
- Minimum Trade Size: 0.01 lot.
- Funding Currencies: BTC/USD
- Trading Style Allowed: All including Scalping, hedging, News trading, and EA Trading.
- PAMM/ MAM: Available
- Stop Out Level (retail): 50%
- Margin Call Level: 100%
- Negative balance Protection: Yes
- Investor Protection: No investor protection is Available.
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity.
- KYC Verification: Required
Dukascopy vs ProsperityFX: 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.
ProsperityFX Pros & Cons
- Low Minimum Deposit - Starting from $10
- Allow Crypto CFD Trading
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading and News Trading
- ProsperityFX Accepts Crypto Deposits
- Offshore Broker with very limited information
- Limited Deposit and Withdrawal Option
- Spread sometimes widens during market volatility
- Unregulated Forex broker
- No Managed Account Options
Dukascopy Vs ProsperityFX: Our Scores and Ratings
We rated both brokers, Dukascopy and ProsperityFX, 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:
ProsperityFX
Final Verdict :
Both Dukascopy and ProsperityFX 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, ProsperityFX is an unregulated offshore forex broker.Dukascopy provides Multiple trading platforms including MT4, MT5, FOREX,Apple iOS,Web,Android. On the Contrary, ProsperityFX does not offer MT4/MT5.
As Dukascopy is not licensed in the USA, it cannot accept US clients. Being an unregulated offshore forex broker, ProsperityFX can onboard clients from anywhere in the world, including the USA. Therefore, non-US traders may opt forDukascopy, while US traders looking for offshore forex brokers may consider ProsperityFX. Trading with offshore forex brokers is risky and not recommended.
