When I deposited my account, 2.3% was deducted for commission charge. If I take out of my money, another commsion charge would apply. So if I transfer 10,000 pounds to my account and later take it out, I will lost 460 pounds, which is the commission charge. (I did not use any middle agent during any process). I never have had this charges from other banks, or from my previous forex broker.

Why Dukascopy charges a commision fee? I think this is not fair. Does everyone pays the commision fees when you transfer money?

If you are funding your account by Credit Card, they charge that commission as they warning about that in the site:

Payment Card Funding Facility
The funding of an account by credit card is allowed only to approved clients of Dukascopy Europe IBS AS. We do not accept the transfers from third parties
The maximum amount of transaction is 5000 USD / 4000 EUR / 3500 GBP, depending on currency selected
Debit cards (Maestro, Visa Electron) and credit cards (MasterCard, Visa) are accepted for funding
We do not charge any fee for funding via payment card, however, the commission of our partner bank in amount of 2.3% of an amount of transaction will apply. This commission will be charged from an amount of your payment. Should you make a payment by the card having other base currency than EUR or USD or GBP, an additional conversion fee may apply.
The funds will be placed on your trading account within one business day from the moment we receive your funds.

If you use wire transfer you don't have any commission at all...

Best regards

JL

Many Thanks jlongo.

Credit card commision charge is understandable but I used debit card for transfer and was charged 2.3%, which was directly from my bank account to the dukas account.

I sent e-mails enquirying what the charge policy of wire transfer but have received no answer so far.

If wire transfer causes no commission charge, i will use it next time.

And i actually asked my debit card bank about commision charge. It does not charge a commission fee by transfer out money to other banks by card transfer. (hence the commission of the partner bank is not true).

Hi...

As much as i know, a debit card used for this type of operation, is «transformed» in a «virtual» Credit Card transaction.
Thats why Dukascopy charged 2.3% commission... I don't know why this, but that is advised by them.
Next time use wire transfer, you don't have to pay that much (depending on your bank commission mostly).

Good luck and trade well

JL

Thanks. I just used wire transfer for another transfer and it did not charge the 2.3% commission.