IC Markets vs Dukascopy: Analysis and Comparison 2024

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IC 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. IC Markets is regulated in two tier-1, and one tier-4 jurisdiction, including ASIC, CySEC, and FSA. 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 IC Markets with Dukascopy regarding their pros, cons, trading platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. We will also explore if IC Markets is better than Dukascopy and vice versa. This comparison lets you understand which broker is better for your trading style and preferences

IC Markets vs Dukascopy: In a Nutshell

IC Markets

Andrew Budzinksi founded IC Markets in 2007 with the aim of using superior technology to provide forex and CFD trading services to both institutional and retail traders. Over the years, the broker has improved in quality and services. It offers true ECN trading with low spreads, high leverage, and fast executions to a global clientele.

ICMarkets Overview
  • Founded In: 2007
  • Minimum Deposit: $200
  • Maximum Leverage: 1:500
  • Regulations: ASIC, CySEC, SCB, and FSA
  • Trading platform: MT4, MT5 and cTrader
  • Account Types: Standard, cTrader raw spread, MetaTrader raw spread , Islamic
  • Payment Options: bank / wire transfer, Paypal, credit card, Skrill, Neteller, UnionPay, Bpay, FasaPay and Poli.
  • US Traders: Not Accept

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

IC Markets vs Dukascopy: Pros and Cons

IC Markets

Pros
  • Fully Regulated broker, ( One tire-1 , jurisdiction, one tire-2 jurisdiction) 
  • Super fast trade execution speed 
  • Straightforward registration process 
  • Low spread, starting from 0 pips. 
  • Easy and Fast Account Opening 
  • Free deposit and withdrawal 
  • Offers standard and raw spread account
  • Trading EA is Allowed 
  • Ability to trade from a mobile device 
  • A demo Account is available
Cons
  • Higher minimum deposit 
  • No investor protection for non-EU Clients 
  • Limited Product Selection 
  • No weekend Trading 
  • US Traders are not accepted

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.

IC Markets vs Dukascopy: Side-by-Side Comparison

IC Markets
Dukascopy
Product
Founded In
Founded In
2007
2004
Founded By
Founded By
Andrew Budzinksi
Andre and Veronika Duka
Headquarters
Headquarters
Sydney, Australia
Geneva, Switzerland
Regulations
Regulations
ASIC, CySEC, FSA, and SCB
FINMA
Min Deposit
Min Deposit
$200
$100
Max Leverage
Max Leverage
1:500
1:200
Tradable Assets
Tradable Assets
Over 2100 forex, CFDs in stocks, indices, commodities, cryptos, and Bonds.
1200+ trading instruments Forex, indices, Stock, bonds, commodities, Energy, ETF,
Fees
Fees
Spreads from 0.6 pips, Commissions $7/round lot
Spread from
Platforms and Tools
Platforms and Tools
MT4, MT5, and cTrader
MT4/MT5, JForex4
US Traders
US Traders
Not Allowed
Not Allow

IC Markets Vs Dukascopy: Our Scores and Ratings

We rated both brokers, IC 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.

IC Markets :

9.3
IC Markets Scores
Regulation and Security (40%)9.5
Fees and Commissions (20%)9.5
Trading (15%)8.5
Trading tools (10%)9
Customer Support (10%)9.6
Trading Education (5%)9.4

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 :

IC 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 IC Markets is $200, whereas the minimum deposit for Dukascopy is $100. Additionally, the maximum leverage for the IC Market is generally 500:1 (IC Markets offers 1000:1 leverage in some countries). On the other hand, the maximum leverage for Dukascopy is 200:1. IC Market offers passive investment programs or copy trading programs like MAM, and Zulutrade. Similarly, Dukascopy Offers passive investment programs like PAMM.

Our score for IC Markets is 9.3, and for Dukascopy, it is 8.8 So, if you are looking for the most trusted forex brokers with tight spread and  MAM account services, you may choose IC Markets. However, If you prefer a forex broker with a lower minimum deposit, and offering a similar trading service to IC Markets, 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.

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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