Looking for reviews about Dukascopy

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Hey, thanks for sharing your experience. What are the fees?

What do you suggest investing in with them? (Assuming you aren't an active trader. Just looking‍ for pointers)
 
Facts thu&¤#

If you⁠ hold money with them in euros it costs then -0.50% to hold your money with⁤ ECB. If you hold money in CHF it costs then -0.75% to hold money with⁣ SNB. So parking 100k euros with them they are having to pay 500 euros a⁢ year to ECB due to negative rates. They have to get that money back somehow.︀
 
I can keep my money in US banks without paying them anything.⁤ Why should I pay $500/yr to Swiss banks while I could use US banks?
 
Pretty much, yeah. I mean, you intend to bank‍ in Switzerland, risk and cost-free, just because you're...you? With -0.75% they will definitely welcome leeches⁠ like you for free with open arms, sure.
 
@John Dee - your posts are wrong and misleading. As @Marie Manila pointed out, you‌ were basically doing the transfer process wrong, that's your fault (if anyone's) and before coming‍ in here shouting and waving your hands, I think a call or live chat with⁠ the contact center would've spared you of the useless rant. I don't have any nice⁤ words to share about Dukascopy, as I've only used them for trading (FX), and though⁣ they've always been fair and responsive, I believe there are better ways to trade out⁢ there.

My point was that it shouldn't be qualified as 'shady', regardless of personal opinion,︀ since not only it is a regulated bank, but also a part of the depositors'︁ compensation scheme within the SNB, let alone basically a free-to-use bank, particularly using their mobile︂ app. I myself prefer Swissquote because of the a) market cap and financial strength; and︃ b) ability to trade, at a very low cost, multiple financial instruments as well as︄ having a multi-currency account to diversify with by default. And SQ is also a fee-free︅ bank for online services (expensive otherwise if using any of their 'retail' services). That being︆ said, for someone willing to spend 0 in commissions on high-street banks, these 2 are︇ probably (along with Saxo Bank) the best alternatives, then there's the 'expensive' CIM Banque and︈ it's CHF360 per year, which appear to be 'too much' for some light-skins here. I'd︉ rather, however, pay CHF360 in service fees while being guaranteed NO negative rates (as CIM︊ does), than being charged -0.75% on a regular basis, maybe it's just me being a︋ bit picky, I don't know.
 
You can check the fees here: Dukascopy Bank

A short overview:
Account maintenance: free

Incoming SEPA: free
Outgoing SEPA: 2,30 €
Incoming SWIFT: less than 4 CHF (don't know the‍ exact fee of the intermediary banks)
Outgoing SWIFT: 15 CHF/20 € (SHA)

Issue of phyiscal⁠ creditcard (VISA or Master): 15 CHF per denomination (USD, CHF, EUR, GBP possible)
Issue of⁤ virtual creditcard (VISA or Master): 7 CHF per denomination (USD, CHF, EUR, GBP possible)
Monthly service charge per card: 1 CHF
 
@iloveyouguys there are fatal mistakes in your approach, and thinking. i strongly discourage you from‌ trying to get your hands dirty with offshore structures...
 
Such as?

I don't get my hands dirty since I don't⁠ have anything to hide. I appreciate your input either way.
 
I also confirm that I have not had any problems with Dukascopy, only that they‌ have established ridiculous limits on incoming funds (less than USD 10k per quarter).

I have‍ added funds from third parties, from my own bank accounts and withdrawn into other own⁠ bank accounts without problem, I have never withdrawn to third party bank accounts.

Today I⁤ saw a notification that also withdrawals to extern visa cards are now available (before only⁣ mastercard).

They also have a good currency exchange rate (0.5% of fees). The visa card⁢ issued by Corner bank (CHF or EUR) and as already mentioned above works well.

I am also of the opinion that Swissquote is much better than Dukascopy and for those︀ who want to make only transfers between own bank accounts, I advise also the broker︁ strateo.ch with bank license like Saxo and without fees.
 
How is the approval process with this bank, easy or the same as any other‌ bank lots of documents and KYC ?
 
The approval process of the account is very easy through a video call, but the‌ complicated in my case was to be able to increase the limits, they asked me‍ for many documents as proof of income that in the majority were rejected, such as⁠ freelancer income or dividends. The only thing they accepted was the income from real estate⁤ investment.

They seem to like only employee funds from a well-established company.
 
I want to correct myself here.

In the end I was able to transfer out‌ money from DukasCopy account indeed, but I can say that app is very much misleading.‍ And what's the deal with that DukasCoin ? Why would any new non-shady bank risking⁠ on-boarding reputation with some own crypto s*it coin, which is not even traded nowhere ?⁤
 
I'm looking at the thread title and it says " Looking for non-shady alternatives to‌ Dukascopy" - So I wonder why we keep discussing Dukascopy? I may change the title‍ if no alternatives are mentioned.
 
If they cared about their reputation, they wouldn't have⁣ such shitty apps. I am speculating but it seems like they're trying to hide their⁢ illegal activities or actors by paying peanuts to peasants for them to increase activity in︀ their platforms. Kinda like bitcoin mixing.

Very good point.
 
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