Dukascopy vs NAGA 2026
By Akash · Facts from the brokers’ own sites, sources linked on each review
NAGA has the higher TFB Score (79/100 vs 67/100).
Dukascopy Bank SA is a Swiss bank founded in Geneva in 2004 and regulated by FINMA as a bank and securities firm, with an EU arm Dukascopy Europe IBS AS in Riga, offering JForex 4 and MetaTrader 4 with volume-based commissions.
75.14% of retail CFD accounts lose money with this provider.
NAGA is the trading brand of The NAGA Group AG (Hamburg, founded 2015); EU clients trade CFDs through NAGA Markets Europe Ltd (CySEC 204/13) on the NAGA web and mobile apps and MetaTrader 5, with VIP tiers from Iron to Crystal.
77.41% of retail CFD accounts lose money with this provider.
Side by side
| Item | Dukascopy | NAGA |
|---|---|---|
| TFB Score | 67/100 | 79/100▲ |
| Regulation & safety | 25/351 tier-1 regulator (FINMA), client money kept apart | 28/35▲1 tier-1 regulator (CySEC), investor compensation |
| Fees & costs | 13/25Spreads from 0.1 pips; commission not published | 22/25▲All-in cost from 0.60 pips, no commission |
| Deposits & withdrawals | 16/20Minimum deposit $100 (Dukascopy Bank SA forex account), 6 deposit methods, 5 withdrawal methods | 16/20Minimum deposit $50 (cards, Neteller, Skrill), 6 deposit methods |
| Platforms & trading | 13/20MT4; leverage up to 1:200 on business days (1:60 at weekends; Dukascopy Bank SA) | 13/20MT5; leverage up to 1:30 on major forex pairs for retail clients (NAGA Markets Europe Ltd, CySEC) |
| Trader Score | No trader scores yet | No trader scores yet |
| Regulators | FINMA | CySEC, FSCA, ADGM FSRA, FSA Seychelles |
| Minimum deposit | $100 (Dukascopy Bank SA forex account) | $50 (cards, Neteller, Skrill) |
| Spreads from | 0.1 pips (variable, SWFX marketplace) | 0.6 pips on EUR/USD |
| Commission | USD 35 per USD 1 million traded on currency pairs (volume commission per opening or closing trade; lower with higher deposits or volume) | 2.50 per side on CFD stocks (the cost document lists no commission on forex CFDs) |
| Max leverage | Up to 1:200 on business days (1:60 at weekends; Dukascopy Bank SA) | 1:30 on major forex pairs for retail clients (NAGA Markets Europe Ltd, CySEC) |
| Platforms | ||
| Withdrawal methods | Bank transfers, Payment cards, Skrill, Neteller, Bitcoins, Ether, Tether | Not published |
| Retail accounts losing money | 75.14% | 77.41% |
Facts from each broker's own website and the regulators' registers. Full sources are on each review: Dukascopy review · NAGA review.
Frequently asked questions
Short answers, from the facts shown on this page.
Is Dukascopy or NAGA better?
NAGA has the higher TFB Score (79/100 vs 67/100). The best choice depends on your country, platform and payment method.
Are Dukascopy and NAGA regulated?
Dukascopy: FINMA. NAGA: CySEC, FSCA, ADGM FSRA, FSA Seychelles. Every licence is linked to the regulator's register on each review.
Which is safer, Dukascopy or NAGA?
Dukascopy holds 1 tier-1 licence (FINMA); NAGA holds 1 (CySEC). Tier-1 regulators have the strictest rules on client money. Your protection depends on which company opens your account.
What is the minimum deposit at Dukascopy and NAGA?
Dukascopy: $100 (Dukascopy Bank SA forex account). NAGA: $50 (cards, Neteller, Skrill). NAGA asks for less to start.
Which has tighter spreads, Dukascopy or NAGA?
Published spreads start from 0.1 pips (variable, SWFX marketplace) at Dukascopy and 0.6 pips on EUR/USD at NAGA; commission: Dukascopy USD 35 per USD 1 million traded on currency pairs (volume commission per opening or closing trade; lower with higher deposits or volume), NAGA 2.50 per side on CFD stocks (the cost document lists no commission on forex CFDs).
Do Dukascopy and NAGA offer MetaTrader and TradingView?
Dukascopy: JForex 4, MetaTrader 4. NAGA: Trading Web App, iOS & Android Apps, MetaTrader 5.
What is the maximum leverage at Dukascopy and NAGA?
Dukascopy: Up to 1:200 on business days (1:60 at weekends; Dukascopy Bank SA). NAGA: 1:30 on major forex pairs for retail clients (NAGA Markets Europe Ltd, CySEC). Leverage depends on the company that opens your account and on your country.
How many retail accounts lose money at Dukascopy and NAGA?
Dukascopy states 75.14% and NAGA states 77.41% of retail investor accounts lose money when trading CFDs with them.
More Dukascopy comparisons
More NAGA comparisons
Forex trading at these brokers is done through CFDs (contracts for difference): you trade on the price moving up or down, without owning the currency itself.Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you can afford to take the high risk of losing your money. Read the full risk warning