JP Markets vs Dukascopy | Which is better (2024)

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JP Markets

Established in 2006, JP Markets is a forex broker offering trading services. The platform provides access to the MetaTrader 4 and Mobile forex trading platforms. JP Markets.co.za offers over 25 forex currency pairs, CFDs, stocks, gold, silver, oil, bitcoin, and other cryptocurrencies for investment and trading options. However,  the broker lacks regulation from top-tier regulatory authorities.

JP Markets Overview
  • Founded In: 2016
  • Minimum Deposit: $1
  • Maximum Leverage: 500:1
  • Regulations: FSCA
  • Trading platform: MT5
  • Account Types: Standard, Premium, VIP, Islamic
  • Payment Options: VISA, MasterCard, iPay, Local Bank Transfers, M-Pesa, PayFast, Skrill, SnapScan
  • 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

JP Markets vs Dukascopy: Side By Side Comparison

JP Markets
Dukascopy
Product
Founded In
Founded In
2016
2004
Founded By
Founded By
Justin Paulsen
Andre and Veronika Duka
Headquarters
Headquarters
Johannesburg, South Africa
Geneva, Switzerland
Regulations
Regulations
FSCA
FINMA
Min Deposit
Min Deposit
$1
$100
Max Leverage
Max Leverage
500:1
1:200
Tradable Assets
Tradable Assets
Forex; Stocks; Indices; Commodities
1200+ trading instruments Forex, indices, Stock, bonds, commodities, Energy, ETF,
Fees
Fees
Spread from 0.0 pips
Spread from
Platforms and Tools
Platforms and Tools
MT5
MT4/MT5, JForex4
US Traders
US Traders
Not Allowed
Not Allow

JP Markets vs Dukascopy: Pros and Cons

JP Markets Pros & Cons

Pros
  • Regulated by FSB, South Africa.
  • The maximum leverage is as high as 2000:1.
  • The minimum deposit is as low as $1.
  • Offers MT5 Trading platforms.
  • 5000+ Trading Instruments including Forex, Stocks, Indices, Commodities, and Cryptos.
  • Same Day Deposits and Withdrawals.
  • Offers Bonus based on account Types.
  • Demo accounts are available.
  • Free courses and webinars are available.
Cons
  • Not regulated by top-tier regulatory authorities such as FCA, ASIC, CySEC, etc. 
  • Lack of Transparency 
  • Mainly aimed at South African clients
  • Scalping, hedging, and automated trading are not permitted
  • Limited choice of trading platforms (Only Metatrader) 
  • Spreads are sometimes wide 
  • Requires the monitoring of functionality

Dukascopy Pros & Cons

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.

JP Marketss Vs Dukascopy: Our Scores and Ratings

We rated both brokers, JP 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.

JP Markets:

6.2
JP Markets Scores
Regulation and Security (40%)5
Fees and Commissions (20%)7
Trading (15%)7
Trading tools (10%)6
Customer Support (10%)7
Trading Education (5%)8

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 :

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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