Head to head

Dukascopy Bank vs FP Markets — which broker is better?

Dukascopy Bank or FP Markets? Fees, regulation, platform and product range compared side by side — with a verdict drawn from the data.

Risk warning: CFDs and leveraged products are complex instruments and come with a high risk of losing money rapidly. Investments can fall in value. Past performance is not an indicator of future results.

Dukascopy Bank

A real Swiss bank running a real ECN — with a tariff sheet that punishes anyone who moves money often.

4,0

Group index 82/100Protection depends on your legal entity

FINMAJFSALatvijas Banka

Stocks (per order): 0.06 %
Minimum deposit: US$100
EUR/USD spread: 0.1 pips

Visit broker Full review

FP Markets

Twenty years of ASIC-regulated plumbing behind the widest platform choice in the CFD market.

4,0

Group index 68/100Protection depends on your legal entity

ASICCySECFSCA+3

Stocks (per order): US$0.02/share
Minimum deposit: A$100
EUR/USD spread: 0.1 pips

Visit broker Full review

Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.

The verdict in numbers

Four decision axes, each derived from the recorded data.

Overall both land on 4.0 out of 5. FP Markets is the cheaper of the two: a reference EUR 5,000 stock order costs €1.84 there against €5.00. Dukascopy Bank scores 82 against 68 out of 100 on the group index. Your account's protection depends on its legal entity. FP Markets covers more ground with 10 of 14 asset classes against 8. On platform and app Dukascopy Bank is ahead, 4.2 against 3.8 out of 5. Which one is right depends on which of these axes matters for your trading profile.

Overall scoreTie

Dukascopy Bank: 4.0
FP Markets: 4.0

Costs

Dukascopy Bank: €5.00
FP Markets: €1.84 — Better

Group indexNo winner

Dukascopy Bank: 82 of 100
FP Markets: 68 of 100

Product range

Dukascopy Bank: 8/14
FP Markets: 10/14 — Better

Platform & app

Dukascopy Bank: 4.2 — Better
FP Markets: 3.8

Compare brokers side by side

Up to four brokers at once — every row a decision point.

Data as of: 30 Aug 2026

Best value in the row

Dukascopy Bank · FP Markets
Criterion	Dukascopy Bank 4,0 Visit broker	FP Markets 4,0 Visit broker

Overall score	4.0	4.0
Group index	82 of 100	68 of 100
Best for	Experienced ECN and algorithmic FX tradersClients who want a bank, not a brokerSwiss and cross-border investorsJava strategy developers and API usersHigher-volume, low-withdrawal-frequency traders	DMA equity and futures CFD tradersTraders who want platform choiceActive forex tradersTradingView and cTrader usersCopy and social traders

Regulation	FINMAJFSALatvijas Banka	ASICCySECFSCACMAFSASaint Lucia registration
Top-tier licences	2 — Better	1
Investor protection	CHF 100,000 — Better	€20,000
Listed group	No	No
Banking licence	Yes	No
Segregated client accounts	Yes	Yes
Negative balance protection	No	Yes
Audited financials	Yes	No
Disclosed regulatory actions	None	1
Founded	2004	2005
Headquarters	Geneva, CH	Sydney, AU

Fees	3.4	4.4 — Better
Safety & regulation	4.8 — Better	3.8
Trading platform	4.6 — Better	3.9
Product range	4.2 — Better	3.7
Mobile app	3.8 — Better	3.7
Research	4.0 — Better	3.6
Customer support	3.9	4.2 — Better
Deposit & withdrawal	2.8	4.5 — Better
Account opening	3.2	4.6 — Better
Education	3.2	3.7 — Better

Reference order EUR 5,000	€5.00	€1.84 — Better
Minimum deposit	US$100	A$100 — Better
Stocks (per order)	0.06 %	US$0.02/share — Better
US stocks	US$0.02/share	US$0.02/share
ETFs	n/a	in the spread
Options	Not offered	Not offered
Futures	Not offered	US$15
Crypto	tiered	in the spread
Bonds (order)	n/a	in the spread
Funds (order)	n/a	n/a
EUR/USD spread	0.1 pips	0.1 pips
Index CFD spread	n/a	0.4 points
FX conversion	n/a	n/a
Inactivity fee	CHF 100 · after 6 months	n/a
Custody fee	None	None
Withdrawal fee	US$35	n/a
Deposit fee	2.5 %	Free on MetaTrader accounts for domestic bank transfer, cards, PayPal, Skrill, Neteller, BPay and POLi. International bank transfer costs AUD 12.50 on either platform. On the Iress platform card deposits cost 1.6% in AUD or 3.18% in any other currency, Neteller and Skrill 4.0%, and PayPal 2.0%.
Overnight financing	n/a	n/a
Other fees	Volume commission — FX: USD 35 per USD 1 million traded at the entry tier, then 33 / 30 / 25 / 18 / 16 / 15 / 14 / 10 and USD 5 above USD 3 million of net deposit, equity or 30-day volume Volume commission — CFDs: USD 52.50 per USD 1 million for commodities, indices, metals and crypto at entry, falling to USD 7.50 at the top tier Currency conversion: 0.05%–1.00% over Dukascopy Bank's spot rate, depending on the size of the conversion Account opening and closing: Free Dormant account: Minimum CHF 500, but never more than the account balance Gold holdings: 1.5% per year of the average gold balance +4	Raw account commission: USD 3 per lot per side (USD 6 round turn) on MT4/MT5 Standard account commission: None — spreads from 1.0 pip instead Iress equity CFD, Australia: 0.06% per side, minimum AUD 6 (wholesale 0.05% with no minimum) Iress equity CFD, London: 0.10% per side, minimum GBP 10 Iress equity CFD, Frankfurt: 0.10% per side, minimum EUR 10 Iress equity CFD, Hong Kong: 0.30% per side, minimum HKD 100 +6

Asset classes (of 14)	8	10 — Better
Exchanges	n/a	7
Stocks	Yes	Yes
ETFs	Yes	Yes
Options	No	No
Futures	No	Yes
Forex	Yes	Yes
CFDs	Yes	Yes
Crypto	Yes	Yes
Bonds	Yes	Yes
Funds	No	No
Commodities	Yes	Yes
Indices	Yes	Yes
Warrants	No	No
Spread betting	No	No
Social trading	No	Yes

Platforms	JForex 4JForex Web 3Visual JForexJForex mobileMetaTrader 4MetaTrader 5JForex API and FIX API	MetaTrader 4MetaTrader 5cTraderTradingViewIress Trader / ViewPointIress InvestorWebTraderMobile trading appMAM / PAMM
Demo account	Yes	Yes
Fractional shares	No	No
Maximum leverage	1:200 · Pro 1:200	1:500
Account opening	Fully online with video identification, but Swiss bank onboarding asks for more documentation and takes longer than a CFD-only broker — typically 1–3 business days	Fully online in roughly 10–15 minutes; most applications approved the same day
Account types	JForex ECNMT4 / MT5Swiss bank accountIslamic (swap-free)PAMM and managed accounts	Standard (MT4/MT5)Raw (MT4/MT5)Iress (retail)Iress (wholesale / professional)Islamic (swap-free)

Payment methods	Bank transferSEPACredit cardDebit cardSkrillNetellerCrypto	Bank transferSEPACredit cardDebit cardPayPalSkrillNeteller
Account currencies	USDEURCHFGBPAUDCADJPYNZDCZKAED	AUDUSDEURGBPSGDCADCHFHKDJPYZAR+2
Deposit time	Bank transfer 1–3 business days; card and e-wallet deposits typically same day; crypto on network confirmation	Cards and e-wallets instant; domestic bank transfer same or next business day; international wire 1–3 business days
Withdrawal time	1–3 business days for bank transfers once approved	Typically 1 business day to process; bank and card withdrawals arrive in 1–3 business days
Free withdrawals	n/a	n/a

Languages	EnglishGermanFrenchItalianSpanishRussianChineseJapaneseArabicPolish+4	EnglishGermanFrenchItalianSpanishPortuguesePolishCzechGreekDutch+6
Channels	PhoneEmailLive chatTicket system	PhoneEmailLive chat
Availability	24/7 during the trading week, with live chat, phone and a ticket queue	24/7 multilingual support, with dedicated account managers on the Iress and higher-tier accounts

Strengths and weaknesses side by side

Editorial assessment based on the recorded data.

Dukascopy Bank

A real Swiss bank running a real ECN — with a tariff sheet that punishes anyone who moves money often.

4,0

Pros

Licensed by FINMA as both a bank and a securities firm — full Swiss banking supervision, capital requirements and audit obligations, not a CFD-broker permission
esisuisse depositor protection up to CHF 100,000 per client on cash balances, which is five times the EUR 20,000 investor compensation most EU brokers offer
SWFX Swiss FX Marketplace is a genuine ECN with visible depth, where EUR/USD spreads start from 0.1 pips and commission is charged separately and transparently
JForex 4 is one of the deepest retail platforms available: roughly 270 indicators, a Java strategy API, tick-level historical data for backtesting and depth-of-market
FIX API access for accounts above roughly USD 100,000, with the JForex Java API available at any account size — institutional connectivity offered at retail account sizes
Volume commission ladder is fully published and improves on any of three criteria — net deposit, equity or 30-day traded volume — so it rewards capital as well as churn
The banking side is real: multi-currency accounts, IBAN, cards and e-banking sit alongside the trading account under one Swiss licence
USD 100 entry on the JForex ECN account, so the Swiss banking counterparty is not gated behind a six-figure balance

Cons

Bank transfer withdrawals are priced per currency and rail — EUR 2.3 over SEPA up to EUR 20, USD 19 up to USD 35, and nominally much more in minor currencies such as HUF 5,500 or JPY 2,500 — and card withdrawals add EUR 1.5 plus 2.5%; cash movement is the single worst part of the tariff
Cash conversions — exchanges, deposits, withdrawals, transfers — are charged at 0.05%–1.00% over spot depending on size, with smaller conversions at the punitive end; profits, losses and commissions outside the account's base currency are converted for a flat 0.5% fee at the Swiss bank (0.1% at the Latvian entity), so a multi-currency trader pays that charge repeatedly
JForex 4 has a genuinely steep learning curve, and Dukascopy publishes little structured beginner education to soften it
No exchange-listed options, no cleared futures and no real share ownership — everything outside spot FX is a CFD with Dukascopy as counterparty
MT4 and MT5 accounts require USD 1,000 rather than the USD 100 that opens a JForex ECN account, and carry a much narrower instrument list
Physical gold holdings are charged 1.5% per year and quarantined crypto assets CHF 2,000 every six months — unusual charges that are easy to miss in the tariff PDF

Best for

Experienced ECN and algorithmic FX tradersClients who want a bank, not a brokerSwiss and cross-border investorsJava strategy developers and API usersHigher-volume, low-withdrawal-frequency traders

FP Markets

Twenty years of ASIC-regulated plumbing behind the widest platform choice in the CFD market.

4,0

Pros

Raw account at USD 3 per lot per side with EUR/USD measured at 0.1 pips and GBP/USD at 0.1 — competitive across the majors
The widest platform lineup in its peer group: MT4, MT5, cTrader, TradingView, Iress Trader/ViewPoint, Iress Investor and WebTrader on one account
Iress gives genuine direct market access with full depth on seven exchanges and published per-exchange commissions from 0.06% on the ASX
No custody fee, and no account fee at all on MetaTrader or Iress Investor; the CySEC entity currently charges no dormant fee and the Australian terms list no inactivity fee
Twelve base currencies including CHF, plus sub-accounts so you can hold USD, EUR and GBP ledgers separately and avoid conversion
24/7 multilingual support that aggregated user feedback consistently describes as quick, helpful and patient
ASIC licence 286354 held since 2005 alongside CySEC 371/18 — a genuinely long operating record for a CFD broker
Account opening takes 10–15 minutes and is usually approved the same day, from an AUD 100 minimum on MetaTrader

Cons

No options of any kind — exchange-traded, OTC or CFD — so options traders need a second broker
Investor compensation exists only for EEA clients under CySEC (EUR 20,000); ASIC, FSCA and Seychelles clients get none, and the international site is run by a Saint Lucia-registered company with no prudential supervision
The Iress side carries costs MetaTrader clients never see: AUD 85 per month for Iress Trader/ViewPoint unless you trade enough, AUD 25 per month for ASX live data, and card deposit surcharges of 1.6%–3.18%
Fixed income and commodities are token: two bond CFDs and twelve commodity CFDs, well behind competitors listing dozens
Privately held with no public financials, no banking licence and no exchange listing, so the group's capital position cannot be independently verified
Recurring public complaints through mid-2026 about withdrawal friction, profit disputes and opacity around account restrictions

Best for

DMA equity and futures CFD tradersTraders who want platform choiceActive forex tradersTradingView and cTrader usersCopy and social traders

Open an account with either

A demo account costs nothing and answers the platform question in ten minutes.

Visit broker: Dukascopy Bank Visit broker: FP Markets

More comparisons

Alternatives people weigh up alongside these two.

Dukascopy Bank vs FP Markets — which broker is better?

Dukascopy Bank or FP Markets? Fees, regulation, platform and product range compared side by side — with a verdict drawn from the data.

The verdict in numbers

Four decision axes, each derived from the recorded data.

Dukascopy Bank · FP Markets
Criterion	Dukascopy Bank 4,0 Visit broker	FP Markets 4,0 Visit broker

Overall score	4.0	4.0
Group index	82 of 100	68 of 100
Best for	Experienced ECN and algorithmic FX tradersClients who want a bank, not a brokerSwiss and cross-border investorsJava strategy developers and API usersHigher-volume, low-withdrawal-frequency traders	DMA equity and futures CFD tradersTraders who want platform choiceActive forex tradersTradingView and cTrader usersCopy and social traders

Regulation	FINMAJFSALatvijas Banka	ASICCySECFSCACMAFSASaint Lucia registration
Top-tier licences	2 — Better	1
Investor protection	CHF 100,000 — Better	€20,000
Listed group	No	No
Banking licence	Yes	No
Segregated client accounts	Yes	Yes
Negative balance protection	No	Yes
Audited financials	Yes	No
Disclosed regulatory actions	None	1
Founded	2004	2005
Headquarters	Geneva, CH	Sydney, AU

Fees	3.4	4.4 — Better
Safety & regulation	4.8 — Better	3.8
Trading platform	4.6 — Better	3.9
Product range	4.2 — Better	3.7
Mobile app	3.8 — Better	3.7
Research	4.0 — Better	3.6
Customer support	3.9	4.2 — Better
Deposit & withdrawal	2.8	4.5 — Better
Account opening	3.2	4.6 — Better
Education	3.2	3.7 — Better

Reference order EUR 5,000	€5.00	€1.84 — Better
Minimum deposit	US$100	A$100 — Better
Stocks (per order)	0.06 %	US$0.02/share — Better
US stocks	US$0.02/share	US$0.02/share
ETFs	n/a	in the spread
Options	Not offered	Not offered
Futures	Not offered	US$15
Crypto	tiered	in the spread
Bonds (order)	n/a	in the spread
Funds (order)	n/a	n/a
EUR/USD spread	0.1 pips	0.1 pips
Index CFD spread	n/a	0.4 points
FX conversion	n/a	n/a
Inactivity fee	CHF 100 · after 6 months	n/a
Custody fee	None	None
Withdrawal fee	US$35	n/a
Deposit fee	2.5 %	Free on MetaTrader accounts for domestic bank transfer, cards, PayPal, Skrill, Neteller, BPay and POLi. International bank transfer costs AUD 12.50 on either platform. On the Iress platform card deposits cost 1.6% in AUD or 3.18% in any other currency, Neteller and Skrill 4.0%, and PayPal 2.0%.
Overnight financing	n/a	n/a
Other fees	Volume commission — FX: USD 35 per USD 1 million traded at the entry tier, then 33 / 30 / 25 / 18 / 16 / 15 / 14 / 10 and USD 5 above USD 3 million of net deposit, equity or 30-day volume Volume commission — CFDs: USD 52.50 per USD 1 million for commodities, indices, metals and crypto at entry, falling to USD 7.50 at the top tier Currency conversion: 0.05%–1.00% over Dukascopy Bank's spot rate, depending on the size of the conversion Account opening and closing: Free Dormant account: Minimum CHF 500, but never more than the account balance Gold holdings: 1.5% per year of the average gold balance +4	Raw account commission: USD 3 per lot per side (USD 6 round turn) on MT4/MT5 Standard account commission: None — spreads from 1.0 pip instead Iress equity CFD, Australia: 0.06% per side, minimum AUD 6 (wholesale 0.05% with no minimum) Iress equity CFD, London: 0.10% per side, minimum GBP 10 Iress equity CFD, Frankfurt: 0.10% per side, minimum EUR 10 Iress equity CFD, Hong Kong: 0.30% per side, minimum HKD 100 +6

Asset classes (of 14)	8	10 — Better
Exchanges	n/a	7
Stocks	Yes	Yes
ETFs	Yes	Yes
Options	No	No
Futures	No	Yes
Forex	Yes	Yes
CFDs	Yes	Yes
Crypto	Yes	Yes
Bonds	Yes	Yes
Funds	No	No
Commodities	Yes	Yes
Indices	Yes	Yes
Warrants	No	No
Spread betting	No	No
Social trading	No	Yes

Platforms	JForex 4JForex Web 3Visual JForexJForex mobileMetaTrader 4MetaTrader 5JForex API and FIX API	MetaTrader 4MetaTrader 5cTraderTradingViewIress Trader / ViewPointIress InvestorWebTraderMobile trading appMAM / PAMM
Demo account	Yes	Yes
Fractional shares	No	No
Maximum leverage	1:200 · Pro 1:200	1:500
Account opening	Fully online with video identification, but Swiss bank onboarding asks for more documentation and takes longer than a CFD-only broker — typically 1–3 business days	Fully online in roughly 10–15 minutes; most applications approved the same day
Account types	JForex ECNMT4 / MT5Swiss bank accountIslamic (swap-free)PAMM and managed accounts	Standard (MT4/MT5)Raw (MT4/MT5)Iress (retail)Iress (wholesale / professional)Islamic (swap-free)

Payment methods	Bank transferSEPACredit cardDebit cardSkrillNetellerCrypto	Bank transferSEPACredit cardDebit cardPayPalSkrillNeteller
Account currencies	USDEURCHFGBPAUDCADJPYNZDCZKAED	AUDUSDEURGBPSGDCADCHFHKDJPYZAR+2
Deposit time	Bank transfer 1–3 business days; card and e-wallet deposits typically same day; crypto on network confirmation	Cards and e-wallets instant; domestic bank transfer same or next business day; international wire 1–3 business days
Withdrawal time	1–3 business days for bank transfers once approved	Typically 1 business day to process; bank and card withdrawals arrive in 1–3 business days
Free withdrawals	n/a	n/a

Languages	EnglishGermanFrenchItalianSpanishRussianChineseJapaneseArabicPolish+4	EnglishGermanFrenchItalianSpanishPortuguesePolishCzechGreekDutch+6
Channels	PhoneEmailLive chatTicket system	PhoneEmailLive chat
Availability	24/7 during the trading week, with live chat, phone and a ticket queue	24/7 multilingual support, with dedicated account managers on the Iress and higher-tier accounts

Criterion

4,0

4,0

Overall score

4.0

Group index

82 of 100

68 of 100

Best for

Experienced ECN and algorithmic FX tradersClients who want a bank, not a brokerSwiss and cross-border investorsJava strategy developers and API usersHigher-volume, low-withdrawal-frequency traders

DMA equity and futures CFD tradersTraders who want platform choiceActive forex tradersTradingView and cTrader usersCopy and social traders

Regulation

FINMAJFSALatvijas Banka

ASICCySECFSCACMAFSASaint Lucia registration

Top-tier licences

Investor protection

CHF 100,000

€20,000

Listed group

Banking licence

Segregated client accounts

Negative balance protection

Audited financials

Disclosed regulatory actions

None

Founded

2004

2005

Headquarters

Geneva, CH

Sydney, AU

Fees

3.4

4.4

Safety & regulation

4.8

3.8

Trading platform

4.6

3.9

Product range

4.2

3.7

Mobile app

3.8

3.7

Research

4.0

3.6

Customer support

3.9

4.2

Deposit & withdrawal

2.8

4.5

Account opening

3.2

4.6

Education

3.2

3.7

Reference order EUR 5,000

€5.00

€1.84

Minimum deposit

US$100

A$100

Stocks (per order)

0.06 %

US$0.02/share

US stocks

US$0.02/share

ETFs

n/a

in the spread

Options

Not offered

Futures

Not offered

US$15

Crypto

tiered

in the spread

Bonds (order)

n/a

in the spread

Funds (order)

n/a

EUR/USD spread

0.1 pips

Index CFD spread

n/a

0.4 points

FX conversion

n/a

Inactivity fee

CHF 100 · after 6 months

n/a

Custody fee

None

Withdrawal fee

US$35

n/a

Deposit fee

2.5 %

Free on MetaTrader accounts for domestic bank transfer, cards, PayPal, Skrill, Neteller, BPay and POLi. International bank transfer costs AUD 12.50 on either platform. On the Iress platform card deposits cost 1.6% in AUD or 3.18% in any other currency, Neteller and Skrill 4.0%, and PayPal 2.0%.

Overnight financing

n/a

Other fees

Volume commission — FX: USD 35 per USD 1 million traded at the entry tier, then 33 / 30 / 25 / 18 / 16 / 15 / 14 / 10 and USD 5 above USD 3 million of net deposit, equity or 30-day volume
Volume commission — CFDs: USD 52.50 per USD 1 million for commodities, indices, metals and crypto at entry, falling to USD 7.50 at the top tier
Currency conversion: 0.05%–1.00% over Dukascopy Bank's spot rate, depending on the size of the conversion
Account opening and closing: Free
Dormant account: Minimum CHF 500, but never more than the account balance
Gold holdings: 1.5% per year of the average gold balance
+4

Raw account commission: USD 3 per lot per side (USD 6 round turn) on MT4/MT5
Standard account commission: None — spreads from 1.0 pip instead
Iress equity CFD, Australia: 0.06% per side, minimum AUD 6 (wholesale 0.05% with no minimum)
Iress equity CFD, London: 0.10% per side, minimum GBP 10
Iress equity CFD, Frankfurt: 0.10% per side, minimum EUR 10
Iress equity CFD, Hong Kong: 0.30% per side, minimum HKD 100
+6

Asset classes (of 14)

Exchanges

n/a

Stocks

ETFs

Options

Futures

Forex

CFDs

Crypto

Bonds

Funds

Commodities

Indices

Warrants

Spread betting

Social trading

Platforms

JForex 4JForex Web 3Visual JForexJForex mobileMetaTrader 4MetaTrader 5JForex API and FIX API

MetaTrader 4MetaTrader 5cTraderTradingViewIress Trader / ViewPointIress InvestorWebTraderMobile trading appMAM / PAMM

Demo account

Fractional shares

Maximum leverage

1:200 · Pro 1:200

1:500

Account opening

Fully online with video identification, but Swiss bank onboarding asks for more documentation and takes longer than a CFD-only broker — typically 1–3 business days

Fully online in roughly 10–15 minutes; most applications approved the same day

Account types

JForex ECNMT4 / MT5Swiss bank accountIslamic (swap-free)PAMM and managed accounts

Standard (MT4/MT5)Raw (MT4/MT5)Iress (retail)Iress (wholesale / professional)Islamic (swap-free)

Payment methods

Bank transferSEPACredit cardDebit cardSkrillNetellerCrypto

Bank transferSEPACredit cardDebit cardPayPalSkrillNeteller

Account currencies

USDEURCHFGBPAUDCADJPYNZDCZKAED

AUDUSDEURGBPSGDCADCHFHKDJPYZAR+2

Deposit time

Bank transfer 1–3 business days; card and e-wallet deposits typically same day; crypto on network confirmation

Cards and e-wallets instant; domestic bank transfer same or next business day; international wire 1–3 business days

Withdrawal time

1–3 business days for bank transfers once approved

Typically 1 business day to process; bank and card withdrawals arrive in 1–3 business days

Free withdrawals

n/a

Languages

EnglishGermanFrenchItalianSpanishRussianChineseJapaneseArabicPolish+4

EnglishGermanFrenchItalianSpanishPortuguesePolishCzechGreekDutch+6

Channels

PhoneEmailLive chatTicket system

PhoneEmailLive chat

Availability

24/7 during the trading week, with live chat, phone and a ticket queue

24/7 multilingual support, with dedicated account managers on the Iress and higher-tier accounts