The Swiss broker Dukascopy, which is famous in the Forex world, is now allowing their clients to trade binary options. Dukascopy has been known for a long time and has a very good reputation, however it seems they took binary options by the wrong end.
We have tried their demo and it has two major problems compared to other binary options brokers.
The first is that Dukascopy applies spreads to Forex binary options. It is a practice common in spot Forex trading, but not in the world of binary options, so it is a very big disadvantage.
The second problem is that your binary options trade don’t start immediately after you click them, but there is a delay of five seconds. This is really incomprehensible and it can make you lose trades just because of a bad timing of your entries.
As we all know, entries are crucial in binary options trading. Because it is the only thing you can influence, exits are given by the expiry. It is what makes this type of trading so easy to understand, so taking control away from traders is really not a good step.
Therefore we cannot really see Dukascopy as being competitive among binary options brokers and we cannot include it in our list.