Oanda and Dukascopy are Forex and CFD brokers offering online trading services to traders and investors worldwide. Both brokers are regulated by top-tier regulatory authorities. Oanda is regulated by three tier-1, two tier-2, and two tier-4 jurisdictions, including the FCA, ASIC, CySEC, DFSA, CMA, and SCB. On the other hand, Dukascopy is regulated by two tier1 jurisdictions, including FINMA,JFSA. These two brokers offer almost similar services. However, each has its own strengths and weaknesses.
In this article, we will compare Oanda with Dukascopy regarding trading platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. We will also explore if Oanda is better than Dukascopy and vice versa. This comparison lets you understand which broker is better for your trading style and preferences.
Oanda vs Dukascopy: In a Nutshell
Oanda
Founded by Drs. Stumm and Olsen in the USA in 1996, Oanda is one of the oldest and most experienced forex brokers in the world. The broker expanded into Asia in 2007, opened its London office in 2011, and its Sydney office in 2014. On its platforms, you can trade over 3,000 forex pairs, CFDs, and even real stocks. The broker is regulated by top regulatory authorities including ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, and FSC in BVI. Oanda offers multiple trading platforms such as MT4, MT5, the fxTrade app, and TradingView. Oanda is also known for its currency transfer services as well as its MarketPlus trading analytics. To learn more, you can read our review on Oanda, where we cover features, pros, cons, and more
Oanda Overview
- Founded In: 1996
- Founder: Dr. Stumm (a computer scientist), and Dr. Olsen (an economist)
- Headquarters: New York, United States
- Trading Instruments: 100+ trading Instruments including forex, indices, shares, commodities, metals, cryptocurrencies, metals
- Minimum Deposit: No minimum Deposit is required. You may deposit as low as $1
- Maximum Leverage: 1:50 (US), 1:30 (EU), 1:200 (other regions)
- Regulations: ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, FSC in BVI
- Trading platform: MT4, MT5, fxTrade app, Tradingview
- Account Types: Standard, Elitetrader
- Trading Fees: Spreads starting from 0.6 pips (EUR/USD pair)
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, ACH Payments (echeck), BPAY, CHAPS, Check, DBS Bill Payment, Local Bank Deposits, Local Bank Transfers, Neteller, Payment Asia, PayNow, PayPal, SEPA Credit Transfer (SCT), Skrill
- US Traders: 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
- 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
Oanda vs : Dukascopy Features
Oanda:
- Trading Instruments: CFD trading is not allowed for US clients; however, non-US clients can trade CFDs
- Maximum leverage: The maximum leverage of Oanda is 1:200 (global), 1:50 (US), 1:30 (EU)
- Minimum Deposit: No Minimum Deposit.
- Account Types: Two (Standard, Elitetrader)
- Trading Fees: Spreads range from 0.1 to 0.6, and commissions range from 3.5 to 4 per lot (depending on account type).
- PAMM/ MAM:
- 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
Oanda vs Dukascopy: Pros and Cons
Oanda
- Regulated by the CySEC, FCA, CFTC, JFSA, IIROC, ASIC, MAS and FSC BVI
- Clients can trade over 1800 forex/CFDs and over 2000 real stocks.
- Platforms: MT4, MT5, and Oanda mobile apps on iOS and Android.
- Trading tools provided are MetaTrader premium tools, Autochartist, Market pulse analysis, etc.
- Customer support is provided in multiple languages and via different channels.
- Fast and user-friendly account opening
- The TradingView platform is available, alongside several VPS services for MT4 hosting.
- Bank withdrawals incur a fee which is transferred to the trader.
- Premium core accounts require a minimum balance of $20,000
- Inactivity fees are charged from dormant accounts.
- No account protection for U.S. clients
- No guaranteed stop-losses for U.S. or U.K. clients
- Traders in the U.S. cannot access single-stock CFDs
- No cent accounts, bonus programme for beginner traders
Dukascopy
- 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.
Oanda vs Dukascopy: Side-by-Side Comparison
Oanda Vs Dukascopy: Our Scores and Ratings
We rated both brokers, Oanda 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.
Oanda :
Dukascopy
Oanda vs Dukascopy: Which One is better?
Now the question comes: is Oanda better than Dukascopy, or vice versa? The answer depends on traders’ and investors’ trading styles and preferences. Both Oanda and Dukascopy offer similar trading services worldwide. However, there are differences in their features, regulations, reputation, and operations. Here are the key facts about both brokers. By reviewing these options, you can clearly understand which broker is right for your trading goals
Oanda :
- Top regulated forex broker accepting both US and non-US clients.
- No minimum deposit is required; you may deposit as little as $1.
- The maximum leverage for Oanda is 1:200 (global), 1:50 (US), and 1:30 (EU).
- Oanda offers a variety of trading tools and platforms, including MT4, MT5, Webtrader, TradingView, and more.
- Trading fees: Spreads range from 0.1 to 0.6, and commissions range from $3.50 to $4 per lot. Spreads and commissions depend on your account type and the types of tradable assets.
- Oanda does not offer CFDs to US clients due to regulatory restrictions.
Dukascopy:
- Dukascopy is a Forex, CFD, and Binary options broker regulated by FINMA (Switzerland), JFSA (Japan), Earlier regulated by FCMC (Latvia)
- Minimum Deposit: $100, However, in Dukascopy Bank Multi-currency accounts (daily banking) there is no minimum deposit requirement, For Dukascopy Bank trading accounts initial deposit is 1000 USD
- Maximum leverage 1:200 (for retail clients), 1:400 (for professional accounts)
- Offers MT4, MT5, jForex trading platforms
- The trading fee: From 0.1 pips for EUR/USD
- Dukascopy does not accept US clients
Our score for Oanda is 8.8, and for Dukascopy it is 8.2.
