Dukascopy Bank
Dukascopy Bank offers Swiss multi-currency accounts in 24 currencies with IBANs, Visa/Mastercard, forex trading, and crypto. FINMA regulated since 2004.
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What is Dukascopy Bank?
Dukascopy Bank is a Swiss online bank and forex broker founded on November 2, 2004 in Geneva, Switzerland by Andre and Veronika Duka, Swiss nationals who still own 99% of the company. The bank is regulated by the Swiss Financial Market Supervisory Authority (FINMA) as both a bank and securities firm, offering a unique combination of retail banking services and online trading.
Dukascopy has grown into a global financial services group with offices in Geneva (headquarters), Riga, Hong Kong, and Tokyo. The group includes Dukascopy Europe IBS AS (European licensed brokerage in Latvia) and Dukascopy Japan (Type-1 licensed broker). The bank serves over 300,000 clients worldwide and provides multi-currency accounts, forex/CFD trading, cryptocurrency services, and investment products through its proprietary technology platforms.
Multi-Currency Account (MCA)
The core banking product is the Multi-Currency Account (MCA), designed for international clients seeking Swiss banking services remotely:
- 24 Currencies: EUR, USD, GBP, CHF, AUD, CAD, JPY, SGD, HKD, PLN, DKK, SEK, NOK, NZD, MXN, TRY, ZAR, CNH, ILS, RON, CZK, HUF, AED, SAR
- Individual Swiss IBANs: Separate IBAN for each currency
- SWIFT, SEPA, and SIX Transfers: Full international transfer capabilities
- Remote Account Opening: Video call verification, typically approved within 24 hours
- Deposit Insurance: Swiss government protection up to CHF 100,000
- Minimum Age: 14 years (full features from 18 years)
Payment Cards
Dukascopy offers multiple card options through different issuers:
Dukascopy Card by Corner (Visa/Mastercard)
- Plastic: 15 CHF (Swiss Post) or 25 CHF (UPS)
- Virtual: 9 CHF
- Monthly fee: 2 CHF
- Currencies: CHF, EUR, USD, GBP
- Max balance: 10,000 CHF
- ATM: 2 CHF per withdrawal
- FX markup: 2%
- Apple Pay and Samsung Pay compatible
Dukascopy Card by CBH (Visa)
- Same pricing as Corner card
- FX markup: 1.5%
- Apple Pay, Google Pay, Garmin/Swatch/Fitbit Pay compatible
Swiss Bankers Card (Mastercard)
- Plastic only: 25 CHF (UPS)
- Monthly fee: 2 CHF
- Transfer from MCA: 0.75%
- Purchases: 1 CHF/EUR/USD per transaction
- ATM Switzerland: 2% (min 2 units)
- ATM abroad: 2% (min 7.50 units)
- FX markup: 0%
Walletto Card (Mastercard)
- Virtual only: 9 CHF
- EUR only
- FX markup: 1.5%
Moorwand Card (UnionPay)
- Virtual only: 9 CHF
- Currencies: CHF, EUR, USD, GBP
- FX markup: 2%
Card Availability: Visa/Mastercard cards are available to residents of Europe (EU/EEA), Switzerland, Israel, Turkey, and UK only. Other regions can use banking services without cards.
Trading Services
Dukascopy operates the Swiss FX Marketplace (SWFX), an ECN trading environment:
Instruments
- Forex: 60+ currency pairs, leverage up to 1:200
- CFDs: 1,200+ instruments including stocks, indices, commodities, bonds
- Crypto CFDs: BTC, ETH, LTC, XRP, and more with 24/7 trading
- Binary Options: Up/Down and Touch binaries
- Precious Metals: Gold, Silver
Trading Platforms
- JForex 4 (Desktop, Web, Mobile)
- MetaTrader 4 and MetaTrader 5
- Binary Options Platform
- API access (JForex API, FIX API)
Trading Fees
- Spreads from 0.1 pips
- Commission-based pricing
- Volume cashback program for high-volume traders
Cryptocurrency Services
- Crypto CFD Trading: Leveraged trading on major cryptocurrencies
- Crypto Investments: Buy and hold BTC, ETH, LTC, BCH, XLM, USDT
- Crypto-Backed Loans: Borrow against cryptocurrency holdings
- P2P Crypto Exchange: Direct crypto trading between users
- Dukascoin (DUK+): Bank's own cryptocurrency with reward programs
Income Generating Programs
- Coin Reward Staking: Earn rewards by holding DUK+
- Euro Reward Staking: Earn up to 8% annually with DUK+ deposit
- Fat Catz Reward: Rewards for accounts with 10,000+ Dukascoins average balance
Fees
Account Fees
| Fee Type | Amount |
|---|---|
| Account Opening | Free (may require 40 EUR initial deposit) |
| Monthly Maintenance | Free (1 EUR/month if <5 DUK+) |
| Account Closing | Free (50 CHF/month after 30 days if balance remains) |
| Currency Exchange | Interbank rate + 0.5% |
Transfer Fees (Outgoing)
| Currency | Fee |
|---|---|
| CHF (SIX) | 2.3 CHF |
| CHF (non-SIX) | 15 CHF |
| EUR (SEPA) | 2.3 EUR |
| EUR (non-SEPA) | 20 EUR |
| USD (SHA) | 19 USD |
| USD (OUR) | 35 USD |
| GBP (SHA) | 10 GBP |
| GBP (OUR) | 15 GBP |
Incoming Transfers
- Own account: Free
- Third-party up to 50,000 CHF: Free
- Third-party 50,000-150,000 CHF: 25 CHF
- Third-party above 150,000 CHF: 50 CHF
Investment Fees
- Purchase/Sale: 1% (stocks, ETFs, bonds, indices, commodities, crypto)
- Maintenance: 1.5% annually
- Money Market funds: 0% purchase/sale
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Security
- FINMA Regulation: Licensed as both bank and securities firm
- Swiss Deposit Insurance: Up to CHF 100,000 per depositor
- Member of Swiss Bankers Association
- Segregated Client Funds
- 24/7 Customer Support
- Video Call Verification: Required for account opening
Supported Countries
Dukascopy MCA is available worldwide except restricted regions. Full card services (Visa/Mastercard) available in:
Andorra, Austria, Belgium, Bulgaria, Channel Islands, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Faroe Islands, Finland, France, Germany, Gibraltar, Greece, Greenland, Hungary, Iceland, Ireland, Isle of Man, Israel, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom.
Restricted Countries
MCA accounts not available for residents of:
Abkhazia, Afghanistan, Belarus, Comoros, Crimea, Cuba, Donetsk People's Republic, Iran, Japan (served by Dukascopy Japan), Luhansk People's Republic, Myanmar, North Korea, Russian Federation, South Ossetia, South Sudan, Sudan, Syria, Transnistria, United States of America, Venezuela, Yemen.
Pros
- FINMA-regulated Swiss bank with deposit insurance up to CHF 100,000
- Multi-currency account with 24 currencies and individual IBANs
- Remote account opening available worldwide (except restricted countries)
- Competitive interbank exchange rates (+0.5% markup)
- Comprehensive trading platform with forex, CFDs, and crypto
- Multiple card options (Visa, Mastercard, UnionPay)
- Apple Pay, Google Pay, Samsung Pay support
- Crypto services including loans and P2P exchange
- 20+ years of operation since 2004
- 24/7 customer support
- No minimum deposit requirement
- Free account opening and maintenance (with 5+ DUK+)
Cons
- Outgoing wire transfers are not free (unlike many neobanks)
- Card services limited to Europe, Israel, Turkey, and UK
- 2 CHF monthly card fee
- 1-2% FX markup on card transactions
- Video call required for account verification
- 1 EUR monthly fee if holding less than 5 Dukascoins
- Complex fee structure for international transfers
- Not available to US, Russian, or Japanese residents (Japan has separate entity)
- Investment fees of 1% on purchases and sales
- Some users report slow customer support response
Alternatives
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About the author
Founder of Sirket.io & Editor at BankList.co
Can Ozer is the founder of Sirket.io with over 6 years of experience in international taxation. He has helped many entrepreneurs with offshore company formation, business bank account opening, and payment infrastructure applications across multiple jurisdictions. At BankList.co, he reviews and curates banks and financial services to help founders choose the right financial partner.
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