MetaTrader 4 is a well-known trading platform, appreciated by many traders around the world. No need for third-party bridges anymore, now you can use a direct connection to SWFX Swiss Marketplace provided by Dukascopy.
Please note that the trading conditions, list of instruments, swaps are different from the standard FX account, which is opened for trading on JForex platform. The following sections of the page describe trading specifications in details.
Trading Specifications
| Specifications | Description |
|---|---|
| Account Currency | USD, EUR, GBP, CHF, PLN |
| Deposit Currency | USD, CHF, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, CNH, SEK, SGD, TRY, XAU, ZAR |
| Margin Call Level | ≤100% |
| Stop Out Level | ≤50% |
| Close By | Disabled |
| Execution Type | Market |
| Hedging | Allowed |
| Expert Advisors | Allowed |
| Trailing Stop | Allowed |
| Maximum Orders | 1'000 |
| MT4 Server Time | Summer Time (Daylight-Saving) = GMT+3 Winter Time (Standard) = GMT+2 |
-
Instrument Leverage Max Net Exposure in Lots Lot Size Min Lot Lot Step AUD/CAD 100 50 100'000 AUD 0.01 0.01 AUD/CHF 100 50 100'000 AUD 0.01 0.01 AUD/JPY 100 50 100'000 AUD 0.01 0.01 AUD/NZD 100 50 100'000 AUD 0.01 0.01 AUD/SGD 100 50 100'000 AUD 0.01 0.01 AUD/USD 100 50 100'000 AUD 0.01 0.01 BCH/USD 5 50 1 BCH 1 1 BTC/USD 5 1 1 BTC 0.01 0.01 CAD/CHF 100 50 100'000 CAD 0.01 0.01 CAD/HKD 10 10 100'000 CAD 0.01 0.01 CAD/JPY 100 50 100'000 CAD 0.01 0.01 CHF/JPY 100 50 100'000 CHF 0.01 0.01 CHF/SGD 100 50 100'000 CHF 0.01 0.01 DSH/USD 1 165 1 DSH 1 1 ETH/USD 5 10 1 ETH 1 0.1 EOS/USD 5 7000 1 EOS 1'000 1'000 EUR/AUD 100 50 100'000 EUR 0.01 0.01 EUR/CAD 100 50 100'000 EUR 0.01 0.01 EUR/CHF 100 50 100'000 EUR 0.01 0.01 EUR/CZK 10 10 100'000 EUR 0.01 0.01 EUR/DKK 10 10 100'000 EUR 0.01 0.01 EUR/GBP 100 50 100'000 EUR 0.01 0.01 EUR/HKD 10 10 100'000 EUR 0.01 0.01 EUR/HUF 10 10 100'000 EUR 0.01 0.01 EUR/JPY 100 50 100'000 EUR 0.01 0.01 EUR/NOK 100 50 100'000 EUR 0.01 0.01 EUR/NZD 100 50 100'000 EUR 0.01 0.01 EUR/PLN 30 10 100'000 EUR 0.01 0.01 EUR/RUB 10 10 100'000 EUR 0.01 0.01 EUR/SEK 100 50 100'000 EUR 0.01 0.01 EUR/SGD 100 50 100'000 EUR 0.01 0.01 EUR/TRY 10 10 100'000 EUR 0.01 0.01 EUR/USD 100 50 100'000 EUR 0.01 0.01 GBP/AUD 100 50 100'000 GBP 0.01 0.01 GBP/CAD 100 50 100'000 GBP 0.01 0.01 GBP/CHF 100 50 100'000 GBP 0.01 0.01 GBP/NZD 100 50 100'000 GBP 0.01 0.01 GBP/JPY 100 50 100'000 GBP 0.01 0.01 GBP/USD 100 50 100'000 GBP 0.01 0.01 HKD/JPY 10 50 100'000 HKD 0.01 0.01 LTC/USD 5 100 1 LTC 10 1 NZD/CAD 100 50 100'000 NZD 0.01 0.01 NZD/CHF 100 50 100'000 NZD 0.01 0.01 NZD/JPY 100 50 100'000 NZD 0.01 0.01 NZD/USD 100 50 100'000 NZD 0.01 0.01 SGD/JPY 100 50 100'000 SGD 0.01 0.01 TRX/USD 1 360'000 1 TRX 2'500 1 TRY/JPY 10 10 100'000 TRY 0.01 0.01 USD/CAD 100 50 100'000 USD 0.01 0.01 USD/CHF 100 50 100'000 USD 0.01 0.01 USD/CNH 10 10 100'000 USD 0.01 0.01 USD/CZK 10 10 100'000 USD 0.01 0.01 USD/DKK 10 10 100'000 USD 0.01 0.01 USD/HKD 10 10 100'000 USD 0.01 0.01 USD/HUF 10 10 100'000 USD 0.01 0.01 USD/ILS 10 10 100'000 USD 0.01 0.01 USD/JPY 100 50 100'000 USD 0.01 0.01 USD/MXN 100 10 100'000 USD 0.01 0.01 USD/NOK 100 50 100'000 USD 0.01 0.01 USD/PLN 30 10 100'000 USD 0.01 0.01 USD/RON 10 10 100'000 USD 0.01 0.01 USD/RUB 10 10 100'000 USD 0.01 0.01 USD/SEK 100 50 100'000 USD 0.01 0.01 USD/SGD 100 50 100'000 USD 0.01 0.01 USD/THB 10 10 100'000 USD 0.01 0.01 USD/TRY 10 10 100'000 USD 0.01 0.01 USD/ZAR 100 50 100'000 USD 0.01 0.01 ZAR/JPY 10 50 100'000 ZAR 0.01 0.01 XAU/USD 50 10 100 oz 0.01 0.01 XAG/USD 30 200 100 oz 0.5 0.01 XPD.CMD 10 90 1 oz 1 0.1 XPT.CMD 10 315 1 oz 1 1 UKGILT.TR/GBP 30 9'340 1 CFD 10 1 USTBOND.TR/USD 30 9'740 1 CFD 10 1 BUND.TR/EUR 30 7'900 1 CFD 10 1 LIGHT.CMD/USD 20 325 100 barrels 1 1 BRENT.CMD/USD 20 325 100 barrels 1 1 DIESEL.CMD/USD 20 900 4 tons 1 1 COCOA.CMD/USD 30 115 1 ton 1 1 SUGAR.CMD/USD 30 715 1 ton 10 10 SOYBEAN.CMD/USX* 30 111'750 1 ton 400 400 OJUICE.CMD/USX* 30 205'000 1 lbs 300 20 COTTON.CMD/USX* 30 342'500 1 lbs 600 100 COFFEE.CMD/USX* 30 470'000 1 lbs 500 10 GAS.CMD/USD 10 2'250 100 MMBTU 10 1 COPPER.CMD/USD 30 2'100 100 lbs 20 1 NLD.IDX/EUR 50 2'275 1 CFD 20 20 EUS.IDX/EUR 50 450 1 CFD 1 1 DEU.IDX/EUR 50 125 1 CFD 0.1 0.1 FRA.IDX/EUR 50 300 1 CFD 1 1 CHE.IDX/CHF 50 175 1 CFD 1 1 GBR.IDX/GBP 50 175 1 CFD 1 1 JPN.IDX/JPY 50 10'000 1 CFD 1 1 USA30.IDX/USD 50 80 1 CFD 0.1 0.1 USATECH.IDX/USD 50 325 1 CFD 1 1 USA500.IDX/USD 50 700 1 CFD 1 1 USC2000.IDX/USD 50 1'300 1 CFD 1 1 HKG.IDX/HKD 10 500 1 CFD 0.1 0.1 ESP.IDX/EUR 50 150 1 CFD 1 1 CHI.IDX/USD 50 140 1 CFD 0.1 0.1 SGD.IDX/SGD 50 5'610 1 CFD 10 10 DOLLAR.IDX/USD 50 16'000 1 CFD 100 100 PLN.IDX/PLN 50 770 1 CFD 1 1 AUS.IDX/AUD 50 375 1 CFD 1 1 XLM/USD 5 90'000 1 XLM 2'500 1 VOL.IDX 10 2'100 1 CFD 10 1 SOA.IDX 50 250 1 CFD 1 1 - *CFDs that are quoted in U.S. dollar cents (100 USX = 1 USD)
Trading Hours and Trading Breaks
FX instruments are traded from Sunday 21:00/22:00 GMT till Friday 21:00/22:00 (summer/winter time).
Regular trading sessions for CFD products are indicated on Trading Hours page. In addition, CFD commodities are suspended for trading due to CFD rollover adjustments. For more information, see CFD Monthly Adjustment page.
Trading Fees
The volume commission rate is determined dynamically and depends on Net Deposit, Equity and Traded Volume according to Dukascopy Bank's Fee Schedule. In addition to the standard volume commission, $0.5 per 1 MT4 lot ($5 per $1 million) is charged for trading on MetaTrader 4 platform.
The volume commission on MT4 accounts is calculated for a round turn transaction and is charged on opening trades only. The volume commission is calculated from the primary amount and converted into the account currency. The volume commission rate shown in the table below is expressed in US dollars per 1 USD lot (1 lot = 100'000).
| Net Deposit or Equity (in USD equivalent) |
Traded Volume* (in USD equivalent) |
Volume Commission in USD per 1 USD round lot | |
|---|---|---|---|
| Currencies | Metals & CFD | ||
| < 5'000 | < 5 million | 8 | 11.5 |
| ≥5'000 | ≥5 million | 7.6 | 10.9 |
| ≥10'000 | ≥10 million | 7 | 10 |
| ≥25'000 | ≥25 million | 6 | 8.5 |
| ≥50'000 | ≥50 million | 4.6 | 6.4 |
| ≥250'000 | ≥250 million | 4.2 | 5.8 |
| ≥500'000 | ≥500 million | 4 | 5.5 |
| ≥1'000'000 | ≥1 billion | 3.8 | 5.2 |
| ≥2'000'000 | ≥2 billion | 3 | 4 |
| ≥3'000'000 | ≥3 billion | 2 | 2.5 |
*The traded volume is the volume of trades executed over the last 30 days, calculated in USD equivalent.
Maintenance Fee
The account is not charged Maintenance fees during the first 180 calendar days after opening. After the 180th calendar day, Maintenance fees are charged if no trade/open position or no online currency exchange occurs on any account of the client during a period of 180 consecutive calendar days starting from the 180th day after opening. When Maintenance fees apply, they amount to a maximum of CHF 100 per client (regardless the number of accounts) for each period of 180 consecutive calendar days without trade or online currency exchange meaning that they are charged twice a year at the maximum and can be avoided completely. Moreover, upon request, Maintenance fees are refunded but only as cashback of future fees or binaries premiums.
Margin requirements
MT4 trading accounts are provided with a default leverage of 1:100. The initial margin is calculated at trade initiation, and the amount of Free and Used Margin is updated in real time on the MT4 platform.
Maximum Net Exposure Limit
There is a maximum net exposure defined per each trading instrument as specified in Range of Markets. The maximum net exposure applies independently on a single MT4 account level and globally on multiple MT4 accounts belonging to the same customer. Note that there can be particular circumstances that lead to situations when a client temporarily exceeds the maximum net exposure.
Stop Loss or Take Profit orders are rejected and pending orders are not resubmitted by the system if the execution of these orders leads to the breach of the maximum net exposure limits.
Dukascopy Bank reserves the right to amend margin requirements and exposure limits at its entire discretion, without prior notice.
Margin Level and Margin Cut Policy
Margin Level is an indicator showing the amount of available margin to maintain open positions on the account. It is displayed in percentage in real-time and calculated as follows:
Margin Level
=
Equity
Used margin
*
100%
Metatrader 4 trading system constantly controls the Margin Level of all open positions in real-time and automatically liquidates positions when the Margin Level falls below a predefined value.
| Margin Level | Description |
|---|---|
| > 100% | Normal status |
| ≤100% | Margin call: The account is in warning status. |
| ≤50% | Stop Out: The most unprofitable positions are automatically closed until the Margin Level returns above 50% level. |
Minimum Equity requirement and Equity Stop Loss
In order to protect clients from incurring liability above their equity and protect Dukascopy Bank SA from associated risks, the following minimum margin policy applies: The minimum equity requirement for the self-trading account is set to 20 CHF. For accounts with different base currency, the minimum amount of equity is re-calculated each day at the exchange rate of the previous settlement. All open positions may be closed and the account may be blocked, should the equity on the account reach the minimum equity requirement.
Additionally, clients can set their own minimum equity stop loss which defines a level at which all open positions are closed and further trading is blocked. The equity stop can be set via client reports (Trading Settings > Equity Stop Loss).
When the equity stop loss is reached:
- All open positions are liquidated and the balance may fall below the level of the equity stop loss level
- All pending orders remain intact but will be rejected when a pending order is triggered
- It's not possible to open new positions unless the equity stop loss is decreased or a new deposit is made
Overnight Policy
The overnight policy for MT4 accounts is set to Regular policy applied for FX accounts.
The swap points are calculated automatically at the end of every trading day. For Wednesday to Thursday rollovers, the swap points are tripled. For USD/CAD, the swap points are tripled from Thursday to Friday. However, the calculation may differ depending on currency settlement holidays.
Please note that swap-free-accounts are not supported for MT4 accounts.
Please beware that on certain calendar days, multiple swaps must be applied and that consequently, your own calculation of applicable swap points may differ from swap points charged or credited to your account. If in doubt, please contact the Trading Support Desk.
Reports
Dukascopy Bank provides detailed reports for the trading account of the client. Their access is online and separated from the platform. The reports are structured in different sections, they give the clients binding values of the state of the client account in real-time, they may be used for declaration made to tax authorities:
- Account / My Account: An overview of the last settlement balance, current equity, and intraday money movements. It contains tabs to view all client’s sub-accounts, create new sub-accounts and submit basic tax information.
- Reports / MT4 Statement: Displays day by day summary of the account balance including current value, any money movements as well as detailed views of all open and closed transactions and results that have been booked on the account.
- Reports / Portfolio Statement: Displays day by day summary of the account balance and daily details grouped by currency pair.
- Reports / Consolidated Report: A condensed overview of the account for any custom time-period.
- Reports / Commission Policy: Information in regard to the trade commissions, trade volume and commission changes.
Server Hostnames
For manual connections from any MetaTrader4 platform including MetaTrader4 for Mac, please connect by any of the following hostnames:
- DEMO:
- demo-mt4-ld-dc-01.dukascopy.com
- demo-mt4-fra-dc-01.dukascopy.com
- demo-mt4-hk-dc-01.dukascopy.com
- demo-mt4-ru-dc-01.dukascopy.com
- d-mt4-jpn-01.dukascopy.com
- LIVE:
- live-mt4-ld-dc-01-a.dukascopy.com
- live-mt4-fra-dc-01-a.dukascopy.com
- l-mt4-hk-dc-01.dukascopy.com
- live-mt4-jp-dc-01-a.dukascopy.com
- live-mt4-ru-dc-01.dukascopy.com
SWFX Sentiment Index Indicator
SWFX Sentiment Index is an indicator designed to show long and short ratios in open positions of Dukascopy customers directly in the MetaTrader 4 platform. The Sentiment Index has the ability to indicate the ebbs and flows of sentiment and keep your fingers on the pulse of the market. The Sentiment Index gauges effective speculative interest in currency pairs, and therefore can be used as a contrarian indicator. The indicator is updated every 30 minutes. In order to obtain the indicator, please follow the instructions described on our Wiki.
Trading Notices
Please read the following important notices about MetaTrader4 trading.
MT4 Platform
"Balance" includes deposit, withdrawals and results from closed positions. It does not include trading results and swaps from positions that are still open. Clients must be aware that balance shown in MT4 platform can be misleading. They are not binding values, as the exclusion of open P&L can lead to strong distortions. Particularly in cases with large open exposures, positions with important gains/losses and if hedged positions are held for an extended time-period, the balance can differ substantially from the real account value. Only when all positions are closed and settled does balance fully correspond to the account value shown in reports.
“Equity” corresponds closely to the account value shown in reports; it is used to calculate the account’s margin level in % in the platform and to follow the accounts true value. Within the current trading day it may diverge from the account value seen in reports, this is due to the particular calculation methods that are applied in MT4 systems, any such difference is eliminated at the end of day settlement.
HEDGED POSITIONS
Positions that are hedged on MetaTrader 4, are evaluated separately based on the ask and bid prices (Short positions are evaluated using the Ask price, Long positions using the Bid price). They affect the open P/L. Swap points apply to both Long and Short positions, impacting the client's equity. As a result of spread widening and/or booking of daily swaps, a margin call or margin cut may occur on the account. While Dukascopy Bank allows holding of hedge positions on the MT4 platform, it hereby attracts the attention of its clients on the costs and risks associated with such hedged positions.
SETTLEMENT PROCEDURE
MetaTrader 4 accounts have a specific settlement procedure in regards to positions closed during the trading day. Unlike the usual settlement procedure of Dukascopy Bank where the final P/L of positions closed during the trading day is determined and known at settlement time only, Metatrader 4 calculates the final P/L of position at their closure. In order to avoid discrepancies, Reports align on the functioning of Metatrader 4 on this particular point. The valuation of open positions is done according to the standard settlement procedure of Dukascopy Bank. They are valuated using settlement rates and converted into the account currency as shown in Reports.
SLIPPAGE
In case of stop and market orders, the requested price is not guaranteed. Orders are executed at the first available price at execution time; slippage can occur when the requested price is not available. In case of large price movement, slippage may be substantial. Entry orders may be rejected without resubmission if the result would be an execution with excessive slippage.
Rejection Messages
In case an order is rejected due to various reasons (no liquidity, off-market price, or max net exposure being reached), the MT4 platform returns the same standard message — [Trading is disabled].
Partial Fills
Partial execution may occur on both opening and closing orders due to low liquidity or when the maximum net exposure on the instrument is reached. When an order is closed partially, a new order ticket is created automatically with the remaining amount of the order and the same levels of Stop Loss and Take Profit, if any. Please note that the comment field is overridden on both the original and the child order.
No Close By
Note that Dukascopy is not supporting Close By functionality due to technical limitations.
No Over-the-weekend Leverage
There is no automatic over-the-weekend leverage reduction applied before the weekend like on standard FX accounts. Clients willing to reduce the exposure before the weekend, should close and adjust positions manually.
Password Reset
In the MetaTrader 4 platform, the password reset feature for both master and investor (read-only) passwords is disabled in the platform. To reset the master or investor(read-only) password, you should go to Security section of Online Reports.
MT4 Server Time
The MT4 server time is set to GMT+3/GMT+2 (summer/winter time) to match the end of trading day in the US trading day (New York 5 p.m. EST). As a result, when trading ends in New York at 5 p.m., the daily candle closes in Metatrader 4. This time also corresponds to the time when swaps are applied to open positions.
STRONG HEDGED MARGIN MODE
The MT4 platform allows to open a hedge position only if the free margin becomes non-negative after the position is open.
CFD dividends and adjustments
Note that CFD dividends and adjustments are carried out as balance operations (deposit/withdrawal) and can be seen in Account History of the platform and MT4 Statement of Online Reports.
Risk disclosure
Trading on margin carries a high level of risk, and may not be suitable for all investors. It is highly recommended to maintain the Use of Leverage at normal levels. The client must always keep in mind that leverage increases potential loss, as well as potential profit, and invested funds can quickly suffer losses in situations where the market prices exhibit strong volatility, potentially creating an adverse environment for the highly leveraged participant. The client shall be solely responsible for maintaining sufficient margin in relation to the existing positions.
Entering in CFD trading is speculative and may result in a substantial loss, which may exceed your entire investment. The potential loss may theoretically be unlimited.
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