There are many CFD brokers in the world, but few can attain the level of service offered by IG Markets and Dukascopy. These two CFD brokers are based in Europe but also have offices around the world. Suffice it to say they are popular brokers with massive client bases from all over the world. To pick one, it’s important to look at their services separately.
IG Markets is a part of IG Group that is based in the UK since it was founded in 1974 and now has 195,000 clients. IG Group is listed on the London Stock Exchange and has subsidiaries all over the world. IG Markets itself is one of the CFD brokers registered by the FCA under registration number 195355. The other subsidiaries are:
- IG US LLC registered by the CFTC and a member of NFA to operate in the US
- IG AU registered by ASIC with AFSL number 220440
- IG NZ licensed in New Zealand with FSP No. 18923
- IG Securities Limited in Japan with trading member number 1168
Dukascopy Bank SA is not too far behind in regulation as it also has plenty of subsidiaries around the world. The main branch of the company is based in Geneva, Switzerland where the company was founded back in 2004. The retail subsidiary for the company is Swiss FX Marketplace (SWFX) that is licensed by the Swiss Financial Markets Supervisory Authority (FINMA). Add to that, Dukascopy Europe is regulated by the Financial and Capital Market Commission (FCMC) in Latvia and they operate in Japan after acquiring Alpari Japan. They also have offices in cities including Shanghai, Hong Kong, Moscow, Dubai, Kiev, Riga and Kuala Lumpur.
We have a draw because both CFD brokers are well regulated and trustworthy.
Deposit and withdrawal methods
To make a deposit to Dukascopy, you get two main options – bank card or wire transfer. Furthermore, the minimum deposit is $100 or equivalent currency and you will be charged a commission depending on the currency used. Deposits in US dollar, for example, has a 2% commission and 1.2% in euro and sterling pound. Other options include Bitcoin, bank guarantee and Dukascoins. IG Markets also has a similar structure, but the charges are less at 1% for Visa card and 0.5% for MasterCard.
Winner is IG Markets for lower deposit fees and faster processing speeds but high net worth traders may prefer Dukascopy for their other deposit options.
Every trade made on Dukascopy will be charged a commission on a sliding scale depending on the trade volume. For total trade volume below $5 million, the commission is $35 per $1 million in trade volume. The charges continue to decrease as the volume increases. Meanwhile, stock CFDs by the broker are charged a commission of 0.1% and spreads for all other CFDs.
With the charges considered, both of these CFD brokers have somewhat equal charges.
IG markets offers over 16,000 markets ranging from Forex, indices, chares, commodities, cryptocurrencies, bonds, options, interest rates, etc. Meanwhile, Dukascopy only has Forex pairs, commodities, indices, stocks, bonds, ETFs and cryptocurrencies.
Winner among these CFD brokers is IG Markets.
Trading on IG Markets is done mainly through MetaTrader 4, but experts can access L2 dealer on their web browsers. Dukascopy also has MetaTrader 4, but also their proprietary JForex platform.
Winner is Dukascopy.
Winner of the CFD brokers
After a close race, the best among these CFD brokers is IG markets.
For further insights on these brokers and any questions, please use the comments section below.