Dukascopy is a brokerage company based in Geneva, Switzerland. They’ve been operating since 2004 and nowadays have many loyal traders on their side. They are also regulated by the Swiss regulatory body FINMA, so you can rest assured this is a serious and reliable company. We noticed that Dukascopy has a pretty good reputation in the forex world, and in 2015 they got the award for the best PAMM service provider, best broker and best binary option broker. In this article, however, we want to talk about Dukascopy spreads, something you should research if you plan to trade forex here!
Dukascopy Spreads | Lowest in the Industry
We’ll begin our Dukascopy Spreads analysis by explaining the term ‘spread’ itself. When you’re trading forex, every trade is conducted through a middleman who charges something for its services (we usually call them brokers). This charge – the difference between the bidding price and the asking price for a trade – is the ‘spread’. Brokers have to facilitate every particular currency trade, meaning they have to provide a constant flow of buy and sell orders. They have to find a seller for every buyer and vice versa, and this is the service you’re paying for in this case.
Consequently, the lower spreads a broker has, the better it is for its traders. That’s why Dukascopy is so famous among traders: it has some of the lowest spreads in the entire foreign exchange industry. This allows you to make the biggest profit. Even though its spreads are low, we’ll give you two extra tips to minimize the spread: trade during the most favorable trading hours and avoid trading thinly traded currencies.
Dukascopy Spreads | Exactly how low?
When we say Dukascopy spreads are low, we really mean it. You can test everything out with a Dukascopy Demo Account, of course, but to give you an example of that, let’s take a look at the EUR/USD pair, one of the most popular currency pairs in the world. For European and US sessions, the spreads are 0.26 and 0.27 respectively, whereas the number is only slightly higher for Asian sessions – 0.38. These values are almost exactly the same for the USD/JPY pair, while for the GBP/USD pair the spreads are 0.61 for the first two sessions and 0.91 for the Asian one. As you can see, this is more than reasonable and will provide you with loads of very attractive investment opportunities.
Apart from low spreads, there are some other options that will upgrade your chances of winning more money. You can read about them in our Dukascopy Review, but as an example we have to say that Dukascopy offers a wide variety of technical tools and they provide you with the newest market related news. We definitely think they’re the right choice for you.
Dukascopy Spreads | Conclusion
As you’ve read in this Dukascopy spreads analysis, this broker has some of the lowest spreads in the foreign exchange industry. Due to the fact that the spreads are low, you can earn more, so you should definitely take this into account. Besides, Dukascopy will enable you to fund your account with ease and they will always provide you with all the important information you need to make the right call. So open an account with this broker if you want top-notch service. They truly are one of the best companies out there.