Dukascopy Minimum Deposit

Dukascopy - Minimum Deposit

 

Dukascopy Minimum Deposit

 

The Dukascopy minimum deposit required is $100.

The initial minimum deposit of $100 required is equivalent to ZAR 1841.96 at the current exchange rate between US Dollar and South African Rand on the day that this article was written.

Dukascopy is a Swiss innovative online bank which is authorized and regulated by strict and demanding regulating entities namely FINMA, FCMC, FSA and DFSA and due to strict regulation, Dukascopy has to keep client funds in segregated accounts.

In complying with this, amidst several other strict rules and regulations, all client funds must be kept separate from the broker account, and it can only be used by traders to conduct trading activities.

In addition to ensuring client fund security through segregated accounts, regulated brokers such as Dukascopy are required to be a member of a compensation scheme or fund which pays out a certain amount to eligible clients in the case of company insolvency.

 

Deposit fees and deposit methods

 

Dukascopy does not charge deposit or withdrawal fees on transactions when funding to and withdrawing from the trading account but traders need to verify with their payment providers should there be any fees that they waive for transactions.

 

Dukascopy supports the following methods of payment:

  • Bank Wire Transfers
  • Bitcoin
  • Bank Guarantees
  • Credit/Debit Cards
  • E-Wallets

 

There 23 different deposit currencies in which traders can fund their accounts which includes, but is not limited to:

  • USD
  • CHF
  • EUR
  • GBP
  • HKD, and more.

 

Step by step guide to deposit the minimum amount

 

Once the trader has completed the process of registering for a live account and the trader has downloaded the trading platform, the trader can follow these steps to deposit the minimum amount:

  1. The trader can log into their trading platform and open the ‘My Account’ report, on desktop platforms, this will be under ‘Account’ and then ‘My Account’, and on mobile platforms ‘More’, ‘Account’, and then ‘Account settings’.
  2. The trader can navigate to the section indicating ‘Deposit’
  3. The trader can then select ‘Deposit’ should they want to make use of credit/debit facilities or the trader can click on ‘Get instructions’ for further assistance in using Wire Transfer to make the minimum deposit.

 

Traders should take note that with making deposits by using Bank Wire Transfer, the transactions may take a certain amount of time depending on the method, time of the day, and day of the week.

Bank Wire Transfers take anything from a day to a few business days depending on the time the payment was made during the day along with the day of the week.

 

Pros and Cons

 

PROS CONS
1.      No deposit fees 1.      None noted
2.      No withdrawal fees
3.      Multiple deposit currencies supported

 

FAQ

 

What is the minimum deposit for Dukascopy?

$100.

 

How do I make a deposit and withdrawal with Dukascopy?

Dukascopy offers the following popular deposit and withdrawal methods:

  • Bank Wire Transfers
  • Bitcoin
  • Bank Guarantees – can only be used for deposits starting from $100,000.
  • Credit/Debit Cards

Dukascopy prohibits third party payments. Deposits and withdrawals must be to and from the same account that the trader registers when opening a live account.

 

Does Dukascopy charge withdrawal fees?

Yes.

  • Credit/Debit Cards – €5 + 2.5% when traders use any other Credit/Debit card other than a Dukascopy bank card.
  • E-Wallets – Skrill 2.5%, Neteller withdrawals lower than $40 are charged at €1 while amounts more than $40 will be charged at 2.5%.

 

How long does it take to make a withdrawal?

  • Bank Wire Transfers – can take up to 7 business days.
  • Bitcoin – can take up to 48 hours.
  • Bank Guarantees – can take up to 7 business days.
  • Credit/Debit Cards – instant.