After spending seven months and hundreds of hours researching 43 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare Dukascopy vs FXCM.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Dukascopy's score is 4.50 stars versus FXCM's 4.00 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Dukascopy alongside FXCM are regulated in a major hub. FXCM is a publicly traded company, while Dukascopy is not. As far as how many currency pairs are available for trading, here's the answer. Dukascopy boasts an offering of 64 different currency pairs compared to FXCM's 39 available pairs.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. Dukascopy alongside FXCM offer Meta Trader. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. Both brokers offer clients access to the same number of charting tools, 31. Both Dukascopy and FXCM provide clients with access to 51 total indicators (eg, moving averages).
Overall, both Dukascopy and FXCM hold a 4.50 star rating. And, when it comes to individual category awards, FXCM posted awards Best in Class - Platforms & Tools, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018, while Dukascopy found itself with Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Active Trading.