FP Markets vs Dukascopy | Which is better (2024)

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Ryan Hardy sitting before his forex trading desk
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FP Markets and Dukascopy are online Forex and CFD brokers that offer trading services to traders and investors worldwide. Both brokers are regulated by top-tier regulatory authorities. FP Markets is regulated by two Tier-1 jurisdictions, one Tier-2 jurisdictions and one tier -4 jurisdictions including ASIC, CySEC, SVGFSA, FSCA. On the other hand, Dukascopy is regulated in two tier-1 jurisdictions including FINMA and JFSA. These two brokers offer almost similar services. However, each broker has its strengths and weaknesses.

In this article, we will compare and contrast FP Markets with Dukascopy regarding trading platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. We will also explore if FP Markets is better than Dukascopy and vice versa. This comparison lets you understand which broker is better for your trading style and preferences.

FP Markets vs Dukascopy: In a Nutshell

FP Markets

Established in 2005, FP Markets is an Australian-based forex and CFD broker that offers online trading services worldwide. It is a global brand regulated by multiple authorities, including ASIC, CySEC, SVG, FSA, and FSCA. The broker provides traders access to more than 10,000 trading instruments on its four platforms: MT4, MT5, IREAA, and cTrader. It also provides access to tools like Autochartist, Trading Central, free VPS, social trading, and more. FP Markets is a low-cost forex broker with spreads as low as 0.0 pips. To learn more, you can read our review about FP Markets.

FP Markets Overview

FP Markets Overview
  • Founded In: 2005
  • Founder: Matthew Murphy
  • Headquarters: Sydney, Australia
  • Minimum Deposit: 100 AUD or equivalent.
  • Maximum Leverage: 500:1
  • Regulations: ASIC, CySEC, FSCA, FSA
  • Trading platform: MT4, MT5 and Ctrader 
  • Account Types: Islamic, Account Funding, Fund withdraw
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Dragonpay, FasaPay, Klarna, Neteller, Ngan Luong, PayPal, PayTrust88, PerfectMoney, Poli, Rapid Transfer, Skrill, SticPay, Transfer from Existing Broker, UnionPay
  • US Clients: Not Accepted

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

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

FP Markets vs Dukascopy: Pros and Cons

FP Markets

Pros
  • Regulated by ASIC, CySEC, FSCA, SVGFSA, AFS, FSP 
  • The Maximum leverage is 1:500
  • Offers popular trading platforms like MT4, MT5, cTrader, WebTrader, IRESS
  • Hedging, Scalping, EA/Robot, and Copy trading are allowed 
  • Easy, Fast and Digital account opening
  • Offers passive investment programs like MAM, PAMM Accounts
  • Faster order execution (40ms) 
  • FP Markets offers consistently tighter spreads from 0.0 pips
Cons
  • No FCA regulation. 
  • The Minimum deposit is $100, which might be high for a beginner
  • High Stock CFD fees 
  • US traders are not accepted 
  • Only two types of accounts ( Standard, Raw) 

Dukascopy

Pros
  • 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
Cons
  • 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.

FP Markets vs : Dukascopy Features

FP Markets:

  • Trading Instruments: 10000+ trading instruments including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, 
  • Maximum leverage: up to 1:500 
  •  Minimum Deposit: 100 AUS or equivalent. 
  • Account Types: Offers 2 account types: Standard, Raw
  • Fees: starting from 1.0 pips for a standard account, $3.5 commission on Raw account per side
  • PAMM/ MAM:  Yes, 
  • Zulutrade: Yes 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

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

FP Markets vs Dukascopy: Side-by-Side Comparison

FP Markets
Dukascopy
Product
Product
FP Markets
Dukascopy
Founded In
Founded In
2005
2004
Founded By
Founded By
Matthew Murphie
Andre and Veronika Duka
Headquarters
Headquarters
Sydney , Australia
Geneva, Switzerland
Regulations
Regulations
ASIC, CySEC, FSCA, FSA
FINMA
Min Deposit
Min Deposit
$ 100 AUD or equivalent
$100
Max Leverage
Max Leverage
500:1
1:200
Tradable Assets
Tradable Assets
Forex,Shares,Metals,Commodities,Indice,Digital Currencies,Bonds,ETFs
1200+ trading instruments Forex, indices, Stock, bonds, commodities, Energy, ETF,
Fees
Fees
Spread from 1 pips (Standard)
Spread from
Platforms and Tools
Platforms and Tools
MT4, MT5, cTrader, WebTrader, TradingView
MT4/MT5, JForex4
US Traders
US Traders
Not Allowed
Not Allow

FP Markets Vs Dukascopy: Our Scores and Ratings

We rated both brokers, FP Markets and Dukascopy, 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.

FP Markets :

9.2
Total Score
Regulation and Security (40%)9.2
Fees and Commissions (20%)9
Trading (15%)9
Trading tools (10%)9.5
Customer Support (10%)9.5
Trading Education (5%)9.6

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

Final Verdict :

FP Markets and Dukascopy are regulated forex and CFD brokers in the industry. They offer similar trading services including forex and CFD trading. They both allow scalping, hedging, EA trading and Copy trading. Neither of these brokers accept US Clients. The minimum order size for both of them is 0.01. 

However, there are a few areas where you may find some differences. For example, the minimum deposit for FP Markets is $100, whereas the minimum deposit for Dukascopy is $100. Additionally, the maximum leverage for the FP Markets is 500:1. On the other hand, the maximum leverage for Dukascopy is 200:1. 

Our score for FP Markets is 9.2, and for Dukascopy, it is 8.2 So, if you are looking for the most trusted forex brokers with tight spreads, you may choose FP Markets. However, If you prefer another broker with similar services, you may choose  Dukascopy.

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.

Fact Checked by
Ryan Hardy is a Content Writer, Researcher, and Fact Checker at Brokersway. Specializing in forex trading, he focuses on ensuring accuracy in information related to broker regulations, scams, and safety measures. With a commitment to transparency, Ryan plays a vital role in providing traders with reliable insights into the world  of forex brokers
Edited by

Richard Walz, a seasoned content writer and broker’s research specialist, is your go-to authority for decoding online forex brokers and trading platforms. As an editor, he ensures precision and clarity, offering traders valuable insights on Brokersway, a trusted resource for informed decision-making in the dynamic world of currency trading. Richard's role as an editor ensures that the information presented is not only accurate but also presented in a manner that resonates with traders seeking clarity in making better decision.

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