New European Union regulations introduced by ESMA

  • The European Securities and Markets Authority (ESMA) is a European Union financial regulatory institution and European Supervisory Authority located in Paris.
  • Yes, ESMA decision affects Dukascopy Europe. Decision of ESMA will not affect Dukascopy Group entities operating outside the European Union - Dukascopy Bank and Dukascopy Japan

  • Major currency pairs - up to 1:30

    Non-major currency pairs, gold and major indices - up to 1:20

    Commodities other than gold and non-major equity indices - up to 1:10

    Individual equities - up to 1:5

    Cryptocurrencies - up to 1:2 

  • Decision to ban binary options will apply starting from 2 July 2018.
    Decision to lower leverage on CFDs will apply starting from 29 July 2018.

Tax - Automatic Exchange of Information (AEOI)

  • AEOI aims at ensuring declaration of accounts to tax authorities.

    It requires Latvian financial institutions to report information annually about certain accounts to the Latvian State Revenue Service (SRS). Concerned accounts are those held by natural persons or legal entities which are tax residents in the European Union or in a country with which Latvia has signed an agreement on AEOI (partner state). In case of accounts held by entities, under certain circumstances, the duty to report may concern also the person(s) controlling the entities.

    After receiving this information, the SRS transfers it to the tax authority of the partner state(s) in which the concerned individual or entity has tax residence. If an individual or entity has tax residence in several partner states, FTA will communicate account information to each of these states.

    The list of partner states can be found at

  • Yes, as a licensed European Investment Brokerage Company, Dukascopy Europe has a legal obligation to participate to AEOI in accordance with applicable Latvian legislation.
  • The reported account information includes the name, address, country of tax residence, tax identification number, date and place of birth/date of incorporation of the person or entity, as well as the account number and the account balance at the end of the reportable year. In the case of legal entity accounts, the reporting obligation may apply not only to the legal entity, but also to the legal entity's beneficial owner(s) and/or controlling person(s).

  • The reported information may only be used for handling or supervising taxation in the partner state which receives it. Partner states must treat the information as confidential and are not allowed to forward it to any other state.

Technical Questions

  • Dukascopy Europe offers LIVE trading on MetaTrader 4 platform with direct access to the SWFX Swiss Marketplace. Clients of the Dukascopy Europe can trade in both mobile and desktop versions of MetaTrader 4.

    Please note the following important differences in trading conditions between MetaTrader 4 and JForex accounts:

    • Volume commission is higher by $10 per $1 million on MT4 account.
    • Only 41 currency pairs can be traded on MT4 account while over 600+ instruments are available on JForex.
    • Maximum net exposure per currency pair is limited to 3 million units of primary currency of the pair (or 30 MT4 lots).

    For more information, see the full specifications on MT4 accounts.

  • While all features and functions of the live platform are available in the demo platform, users should keep in mind that simulation cannot replicate real trading market conditions. One important distinction is that the volume executed through the simulation does not affect the market, while in real trading volumes have effect on the market, especially when the deal size is large. Furthermore, users can have a very different psychological profile depending whether they trade in demo or live platforms. This aspect may impact the evaluation performed with the demo account. Users are advised to use caution and avoid complacency about any conclusion they would have drawn from the use of the demo platform.
  • For JAVA version of the platform: - direct Internet connection (no proxy allowed); - Java v.5.0+; - CPU 1500MHz+; For WEB version of the platform: - FireFox 1.5+ (Recommended)or Microsoft IE v5.5+ or Opera 8+.

Trading Questions

  • Dukascopy Europe guarantees the execution of Stop Loss orders. However, during fast markets or gaps, there is probability of a large slippage.
  • The 'Stop Loss Level' function provides traders with possibility to automatically close all positions beyond a certain drawdown level of equity.
    The function is located in the Portfolio section of the trading platform or in the client reports area. All open positions will be closed, all pending orders will be cancelled and trading blocked if the equity on the account becomes equal to or less than the 'Stop Loss Level' set by the client. Please beware that equity on the account after the closing of all open positions might be lower than the 'Stop Loss Level', depending on market conditions.
  • No, all trading orders are executed automatically, execution is STP (Straight-Through Processing). In case of an order placed by telephone, the order is entered manually into the trading system for automated execution.
  • Yes. An ECN trading environment is recognizable by the addition of the following attributes: existence of a marketplace where traders can trade against each other, displaying of the market depth including clients' place bid and place offer orders, variable spreads, STP execution with no dealing desk and competition between various bids and asks placed on the marketplace, same price feed for all participants.
  • Dukascopy Europe IBS AS procures the execution of your trades and is not a counterparty to any trades you enter into. Your trades are executed on the SWFX – Swiss Forex Marketplace, which is an ECN operated by Dukascopy Europe IBS AS. Thus, Dukascopy Europe IBS AS is the counterparty to all clients' trades. Dukascopy Europe IBS AS sends orders to the interbank market in its own name for hedging purposes. Not all clients' trades necessarily result in orders sent straight to the interbank by Dukascopy Europe IBS AS. The small size of a trade may have an impact on the ability of Dukascopy Europe IBS AS to hedge clients' trades with its counterparties since the latter may not accept trades under a certain minimum size. Therefore, Dukascopy Europe IBS AS may be obliged to cumulate a certain number of executed trades prior to be able to hedge them in the market. However this depends on hedging counterparties' minimal lot size and current exposure of already cumulated trades. All traders receive the same data feed and same execution quality whatever the size of their trades.
  • The trading platforms give the trader the option to limit or fully exclude slippage on all market orders. It is to be noted that decreasing tolerance to slippage increases probability of order rejects.
  • Yes, trading conditions may differ between the environments. This might relate to the list of tradable instruments available, trading settings etc. Although Dukascopy Europe strives to ensure that trading conditions on DEMO and LIVE are aligned as much as possible, differences still might appear. This is especially likely to happen when new trading instruments are being released and tested or when special trading conditions are applied to specific instruments.

Basic FAQ

  • Dukascopy Europe IBS AS accepts all types of clients: institutional clients, banks, professional hedge funds and private clients.
  • Yes, all the accounts have direct access to the ECN Forex trading market via SWFX - Swiss FX Marketplace.
  • You can open an account using simplified online procedure by sending us scanned copies or readable pictures of uncertified documents. Please be informed, that accounts opened with scanned documents have net deposit limit of 15'000 EUR. In order to increase that limit, please contact your Account Manager.
  • The certification has to be made by a public notary or an official of identical power. The certification has to be made by a public notary or an official of identical power. Documents can also be certified by an authority (police station, court, embassy) or a major bank. Please note that no certification is required in case you provide/show your original identification document to a representative of Dukascopy Europe IBS AS. You may get a certification from the following persons / entities / offices: Notary Public Solicitor (only in UK) Police Member of Judiciary Town Hall / Senior Civil Servant Embassy, Consulate or High Commissioner of the country of issue of the document Bank or equivalent regulated financial institution Commissioner for oaths (e.g. UK former territories, Canada, Malaysia) Justice of Peace (only in Australia and New Zealand) Post Office (only in UK, Switzerland, Germany, Portugal, Australia and where this is usual practice) IMPORTANT: The list above is not exhaustive; feel free to contact us for further information relating to your country especially if you encounter difficulties in obtaining a certification. Dukascopy Europe IBS AS may refuse a certification at its own discretion, do not hesitate to consult your Account Manager beforehand. To be accepted by Dukascopy Europe IBS AS, your certification of passport / ID photocopy must be as follows: 1.The certification should contain: the text "Certified true copy of the original" the certifier's name, signature and date of signature, position or capacity (e.g. notary public), contact details such as address, phone number, official company / institutional stamp clearly impressed. 2. The passport / ID must contain a specimen of signature of its holder. If your signature has changed, please sign with your current signature on your copy of passport / ID and ask the certifier to write "Signed in my presence". 3. The photocopy and picture must be clearly readable and be a clear likeness of the original. 4. The certification should be on the same page as the copy of passport / ID or if there are several pages they should be sealed together. 5. The passport / ID must be valid (not out of date) at the time the copy is made. 6. The passport / ID must contain the place of birth of its holder. 7. In case your family name is no longer same as your passport / ID, you must provide us with a certified copy of your marriage certificate or equivalent document. Please note that a driver's license cannot be accepted as a valid identification document, even when such a license is equivalent to an ID in your country of residence. Should you have any questions or difficulties in providing certified copies, please contact your Account Manager at Dukascopy Europe IBS AS.
  • Accounts with Dukascopy Europe IBS AS can be funded using both debit (Maestro, Visa Electron) and credit cards (MasterCard, Visa). In case you cannot fund your account with one of the cards mentioned above, please contact your bank which issued the card to clarify the reason.
  • Yes, SEPA transfers can be used to fund Dukascopy Europe IBS AS accounts denominated in EUR.
  • Yes, our representatives are available on a 24h basis from Sunday 9 PM GMT till Friday 9 PM GMT in summer and from Sunday 10 PM GMT till Friday 10 PM GMT in winter.
  •  Depending on the services which Dukascopy Europe IBS AS provides to the client, various commissions may apply. Please consult the complete fee schedule published on our website.

  • No. The agreements do not apply since Dukascopy Europe is not located in Switzerland and accounts are opened within EU area.

Conditional Order Panel

  • Stop Order A stop order is a pending order to buy or sell currency once the price of the currency pair reaches a specified price, known as the stop price. When the stop price is reached, the stop order becomes a market order. A buy stop order is always placed above the current market price, while a sell stop order is placed below. Stop orders can be triggered either by ask or bid price, thus giving traders more flexibility in execution control. For stop orders slippage value of 25 pips is applied by default. If any slippage value is indicated by user, the stop order becomes a stop limit order. That is, if the stop order will fail to execute within the specified slippage range, the order will be automatically transformed into a limit order. Limit Order A limit order is a pending order to buy or sell currency at a specified level or better. A buy limit order can only be executed at the limit price or lower and triggered by ask side, and a sell limit order can only be executed at the limit price or higher and triggered by bid side. Limit orders may fail to execute because the market price may quickly bounce back from the limit price before your order can be filled.
  • When entering a conditional order you should pay your attention to the current market price, the desired price and inequality sign that you set up in your order. If an order conditions correspond to the current market price the order will be executed immediately. Example: Current market price EUR/USD 1.4310, your conditional order is Buy if >=1.4305. The order will be executed immediately.
  • MIT is a limit order with a specified slippage value. In comparison to limit orders, the MIT order may have a higher probability of execution within the slippage range.
  • Market order is an order to buy or sell currency immediately at the available market price. Market orders are executed according to available bids and offers in the market depth, which indicates volumes available for each price level. When a trade is placed at the market and the order amount is greater than volume of the price offered on the platform, the execution of the remaining amount is split according to the next levels of the market depth. For market orders slippage value of 10 pips is applied by default unless the other value is selected. Should the market price slip more than the specified level, the market order will be automatically cancelled.


  • There is an EMERGENCY LINE. Dukascopy Europe is ready to help at any open market time. Dukascopy Europe emergency line: +371 67 399 039.
  • Yes, it is possible to trade using the phone by calling +371 67 399 039.
  • You should call +371 67 399 039.
  • Due to security reasons, orders can only be placed via the platform interface or by calling the emergency line +371 67 399 039.


  • The Dukascopy "Cost of Carry" is always up-to-date. You may also check the last update date in the very right column of the table.


  • These types of orders allow users to act as liquidity providers by placing individual bids and offers right into the market. Bids/Offers are very similar to limit orders and used to buy or sell a currency at a specified price or better. But in addition to limit orders, Bids/Offers have several advantages. As all Bids/Offers are placed directly in the market, they can be taken by other liquidity consumers, thus allowing a trader to avoid a spread cost. The required margin for Bids/Offers is reserved instantly when the order is accepted, what means, less time is needed to process the execution. Additionally, users can specify the time period (Good Till Canceled / Good For / Good Till) allowed for the system to work the order. All together, these features make Bids/Offers valuable tools for intraday trading.

Position Structure

  • If you have two positions (long and short) for the same instrument you may use the "Merge" function. No volume commission will be charged for the trade for a merge as there is no trade involved in this case.

Process of Logging In

  • Login details are given out to new clients via email during the day in which the account has been activated.