Dukascopy Bank SA vs Ultima Markets Comparison
Compare trading conditions, commissions and platforms of Forex brokers Dukascopy Bank SA and Ultima Markets. Find out which broker is best for you.
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Who is better - Dukascopy Bank SA or Ultima Markets?
Key differences between the brokers
Below, we show only the differences in trading conditions covered in our reviews. These may include the minimum deposit, available markets, platforms and account types. Compare these details with your requirements.
Dukascopy Bank SA
- Minimum deposit · USD
- 1,000 USD
- Different platforms
- JForex
- Cent account
- No
Ultima Markets
- Minimum deposit · USD
- 50 USD
- Different platforms
- WebTrader
- Cent account
- Yes
Comparison Table of Dukascopy Bank SA and Ultima Markets
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| Broker | Dukascopy Bank SA | Ultima Markets |
|---|---|---|
| Foundation Year | 2010 | 2016 |
| Regulated in Countries | Switzerland | Mauritius, Cyprus |
| Minimum Deposit |
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| Spread | from 0.1 points | from 0 points |
| Max Leverage | 1:200 | 1:2000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review |
Dukascopy Bank SA Review
Dukascopy Bank SA is a broker with a long history and a good reputation. The company provides its clients with a wide range of services and products for trading in international financial markets. The broker has reliable trading tools, including modern trading platforms and access to liquidity from its bank. In addition, Dukascopy Bank SA ensures a high level of security and confidentiality of its clients' data, making it one of the most reliable brokers in the market. Dukascopy Bank SA is an attractive option for traders looking for a reliable partner for successful trading in the financial markets.
Pros and Cons of Dukascopy Bank SA
Pros
- Wide range of trading assets.
- High-quality trading platforms.
- Quality technical support.
- Diverse analytical tools.
Cons
- Fees for deposit and withdrawal.
- Insufficient educational materials.
Ultima Markets Review
Ultima Markets is a broker offering a wide range of trading instruments and platforms, making it attractive to various categories of traders. With low trading commissions, user-friendly platforms, and extensive analytical materials, the broker is suitable for experienced traders and those who use automated strategies. However, due to the lack of educational materials, Ultima Markets is less suitable for beginner traders, but it is an excellent choice for anyone who does not require training.
Pros and Cons of Ultima Markets
Pros
- Low trading commissions.
- Coverage of all major trading asset markets.
- Extensive analytical materials and tools.
- Efficient technical support.
Cons
- Lack of educational materials.
- No phone support.
Ultima Markets is in the top 10 of the following ratings:
Reliability
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| Broker | Dukascopy Bank SA | Ultima Markets |
|---|---|---|
| Reliability | 5/5 | 4.4/5 |
| Foundation Year | 2010 | 2016 |
| Regulated in Countries | Switzerland | Mauritius, Cyprus |
| Regulators |
Dukascopy Bank SA
Dukascopy Bank is a reliable broker, regulated by FINMA and licensed in Switzerland, Japan, and Europe, confirming its stability and legitimacy.
Ultima Markets
Ultima Markets demonstrates high reliability due to multi-tier regulation and client protection through insurance coverage. This makes the broker a safe and trusted partner for traders.
Pros
- Regulation by FSC and CySEC.
- Membership in The Financial Commission.
- Insurance coverage up to $1,000,000 USD.
Cons
- Lack of licenses from stricter regulators such as the FCA or ASIC.
Account Opening
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| Broker | Dukascopy Bank SA | Ultima Markets |
|---|---|---|
| Account Opening | 4.5/5 | 5/5 |
| Minimum Deposit |
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Dukascopy Bank SA
Opening an account with Dukascopy is quite simple and fast, with clear steps and the possibility of verification via video call.
Pros
- Clear and simple registration process.
- Fast verification, often less than 24 hours.
- Possibility of identity confirmation via video call.
Cons
- Minimum deposit of $1000 may be high for beginners.
Ultima Markets
The account opening process at Ultima Markets is easy, convenient, and quick, making it attractive for new clients.
Pros
- Simple and fast registration.
- Accessible minimum deposit.
- Verification using standard documents.
Account Types
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| Broker | Dukascopy Bank SA | Ultima Markets |
|---|---|---|
| Account Types | 4/5 | 4.7/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0.1 points | from 0 points |
| Max Leverage | 1:200 | 1:2000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | Yes | Yes |
| Swap-free Account | Yes | Yes |
Dukascopy Bank SA
Dukascopy offers a versatile ECN account, but limits the selection of specialized accounts.
Pros
- 24 base currencies.
- Availability of binary options and Islamic account.
- Contests and managed accounts available
Cons
- Lack of cent accounts.
- No fixed spread accounts.
Ultima Markets
Ultima Markets offers a variety of accounts that meet the needs of different traders, including standard, ECN, cent, and Islamic accounts. However, additional services could make their offering even better.
Pros
- A variety of accounts for different categories of traders.
- Islamic accounts available.
- Own copy trading platform.
Cons
- Lack of fixed spread accounts.
Commissions
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| Broker | Dukascopy Bank SA | Ultima Markets |
|---|---|---|
| Commissions | 3.7/5 | 5/5 |
| Spread | from 0.1 points | from 0 points |
| Average Spread (EURUSD) | 0.3 | 1 |
| Commission | per $1M turnover$35.00 | per 1 lot$2.50 |
Dukascopy Bank SA
Dukascopy offers average commissions with flexible terms depending on trading volume and deposit, but charges an inactivity fee.
Pros
- Flexible commission that decreases with increasing trade volume.
- Low swaps compared to competitors.
Cons
- Transaction fee higher than some competitors.
- Inactivity fee charged.
Ultima Markets
Ultima Markets has low trading commissions, making it attractive for traders. The absence of inactivity fees and withdrawal fees adds to the advantages.
Pros
- Low commissions on ECN account ($5 per lot).
- Tight spreads on standard account.
- No inactivity fees and withdrawal fees.
Deposit and Withdrawal
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| Broker | Dukascopy Bank SA | Ultima Markets |
|---|---|---|
| Rating | 3.5/5 | 4.5/5 |
| Account Funding Methods |
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Dukascopy Bank SA
Dukascopy offers a variety of deposit and withdrawal methods, but with high fees.
Pros
- Wide selection of methods.
- Fast fund crediting.
- Free transfers between Dukascopy accounts.
Cons
- High fees (2.5%).
- Lack of cryptocurrencies in deposit/withdrawal methods.
Ultima Markets
Ultima Markets offers convenient deposit and withdrawal methods with minimal costs and fast processing time, making the broker attractive for traders.
Pros
- Wide range of deposit and withdrawal methods.
- No withdrawal fees.
Cons
- Withdrawal time up to 5 business days.
Markets and Products
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| Broker | Dukascopy Bank SA | Ultima Markets |
|---|---|---|
| Markets and Products | 4.7/5 | 4.5/5 |
| Forex | 60 | 60 |
| Precious Metals | 5 | 9 |
| Energy Carriers | 4 | 7 |
| Soft Commodities | 6 | 7 |
| Indices | 20 | 28 |
| Stocks | 1081 | 86 |
| ETF | 51 | 6 |
| Bonds | 3 | 7 |
| Cryptocurrency | 18 | 47 |
Dukascopy Bank SA
Dukascopy offers an extensive selection of markets and products, but with limited leverage.
Pros
- Wide range of currency pairs and CFDs.
- Ability to trade binary options.
- Access to cryptocurrencies.
Cons
- Relatively low leverage.
Ultima Markets
Ultima Markets provides a wide selection of markets and products, satisfying the needs of most traders.
Pros
- Wide assortment of CFDs.
- Coverage of all major markets.
Cons
- Average number of stock CFDs compared to competitors.
Trading Platforms
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| Broker | Dukascopy Bank SA | Ultima Markets |
|---|---|---|
| Rating | 4.5/5 | 4/5 |
| Trading Platforms |
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Dukascopy Bank SA
Dukascopy's trading platforms are highly regarded for their functionality and user-friendliness.
Pros
- Wide selection of technical indicators.
- Availability of unique order types.
- Support for mobile devices and MT4.
Cons
- Lack of other popular platforms besides MT4.
Ultima Markets
Ultima Markets' trading platforms are user-friendly and functional, making them an excellent choice for most traders.
Pros
- Support for MT4 with extensive functionality.
- Intuitive mobile application.
Cons
- Limited choice of platforms.
Analytics
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| Broker | Dukascopy Bank SA | Ultima Markets |
|---|---|---|
| Rating | 5/5 | 4/5 |
Dukascopy Bank SA
Dukascopy's analytical tools are extensive and of high quality.
Pros
- Availability of fundamental and technical analysis.
- Own TV channel with up-to-date information.
- A variety of additional tools.
Ultima Markets
Ultima Markets possesses excellent analytics and tools, aiding traders in making informed decisions. However, the lack of unique analytical tools and limited number of trading signals slightly lower the rating.
Pros
- Up-to-date market news.
- Expert analysis of popular instruments.
- Economic calendar and trading calculators.
Cons
- Lack of unique analytical tools.
- Limited number of specialized reviews.
Education
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| Broker | Dukascopy Bank SA | Ultima Markets |
|---|---|---|
| Rating | 3/5 | 1/5 |
Dukascopy Bank SA
Dukascopy's educational materials are limited, with a focus on video tutorials for the platform, but without in-depth analysis.
Pros
- Video tutorials for the JForex platform.
Cons
- Lack of regular webinars and seminars.
- Shortage of materials for advanced traders.
Ultima Markets
Ultima Markets offers limited educational materials, which is insufficient for beginner traders. To improve the level of education, webinars, video tutorials, and articles should be added.
Pros
- Unlimited demo account.
Cons
- Absence of webinars and video tutorials.
- Lack of articles and podcasts.
Customer Support
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| Broker | Dukascopy Bank SA | Ultima Markets |
|---|---|---|
| Rating | 4.5/5 | 4.5/5 |
| Email Support | ||
| Hotline Phones | — | |
| Social Media |
Dukascopy Bank SA
Dukascopy's technical support is efficient, with rapid response and professional staff.
Pros
- Instant responses in chat.
- Short waiting time on the phone.
Cons
- No messengers for communication with support.
Ultima Markets
Ultima Markets' customer support demonstrates high efficiency and professionalism, providing prompt assistance through various communication channels.
Pros
- 24/7 support.
- High response speed.
- Variety of communication channels (email, chat, Telegram).
Cons
- No phone support.
Comparisons of Dukascopy Bank SA and Ultima Markets with other brokers
Conclusion
When choosing between Ultima Markets and Dukascopy Bank SA, match their platforms, markets, account types and funding terms to your needs.
Before opening an account, verify fees, regulation, support and service availability for your country in the sections above.
FAQ
Which broker is better: Dukascopy Bank SA or Ultima Markets?
Ultima Markets ranks higher than Dukascopy Bank SA in our editorial ranking. That does not make it a universal choice: compare fees, markets, platforms, account types and support.
Which broker is better for beginners: Dukascopy Bank SA or Ultima Markets?
Beginners should compare availability in their country, account types, minimum deposit, trading platforms and customer support.
Who has lower typical trading costs (spreads/commissions) — Dukascopy Bank SA or Ultima Markets?
It depends on the instrument and account type. Compare the live conditions in the “Commissions” section on this page — we break down the nuances category by category.
What trading platforms are available with Dukascopy Bank SA and Ultima Markets?
Dukascopy Bank SA: MetaTrader 4, JForex. Ultima Markets: MetaTrader 4, WebTrader. See the “Platforms” section for details and selection tips.
What markets can you trade with Dukascopy Bank SA and Ultima Markets?
Dukascopy Bank SA: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, ETF, Bonds, Cryptocurrency. Ultima Markets: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, ETF, Bonds, Cryptocurrency. Full lists and differences are in the “Markets” section.
What account types are offered by Dukascopy Bank SA and Ultima Markets?
Dukascopy Bank SA: ECN. Ultima Markets: Standard, ECN, Standard Cent Account, ECN Cent Account. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by Dukascopy Bank SA and Ultima Markets?
Dukascopy Bank SA: Apple Pay, Skrill, Neteller, Swift, SEPA, Visa, Mastercard. Ultima Markets: Alipay, Bank Transfer, UnionPay, Visa, Mastercard, Online banking. Check method-specific fees/settlement times.
Which broker is safer — Dukascopy Bank SA or Ultima Markets — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
