SCALPING DUKES
Pros and Cons
Pros
- Diverse range of trading instruments: forex, CFDs, and commodities
- Utilizes MetaTrader 5 platform with advanced trading features
- Competitive trading conditions with low spreads and high leverage
- Multiple account types catering to different trader profiles
- Emphasis on customer support through various channels
Cons
- Not regulated by any recognized financial authority
- Limited trading instruments, no stocks or cryptocurrencies
- Lack of advanced trading platforms like MetaTrader 4
- No demo account available for practice
- Potential withdrawal delays and complications
Basic Information
User Reviews
SCALPING DUKES Overview
Scalping Dukes is an online forex broker that was established in 2023 and is headquartered in Saint Kitts and Nevis. Operating as Scalping Dukes LLC, this broker has been in the market for approximately 2-5 years. Currently, Scalping Dukes does not hold regulation from any major financial authorities, which raises concerns regarding its oversight and the safety of client funds. This unregulated status is critical for potential traders to consider, as it may impact their trading experience and risk management strategy.
The broker offers a diverse range of trading instruments, primarily focusing on forex, contracts for difference (CFDs), and commodities. Traders can utilize the MetaTrader 5 platform, which provides advanced trading capabilities and a user-friendly interface. Scalping Dukes also emphasizes customer support, offering assistance through various channels to enhance the trader’s experience. While the broker promotes competitive trading conditions with low spreads and the potential for high leverage, it is essential for traders to thoroughly assess the risks associated with trading through an unregulated broker.
Is SCALPING DUKES Safe? Regulation Analysis
Regulatory Information
Scalping Dukes is an online forex broker that is not regulated by any recognized financial authority. This unregulated status raises significant concerns regarding the safety and security of client funds, as there are no established oversight mechanisms to protect investors. Without regulation, traders may face a higher risk of fraud and lack of investor protection.
Potential clients should be aware that trading with an unregulated broker like Scalping Dukes can expose them to various risks, including the potential for financial loss without the safety nets that regulated brokers provide. Caution is advised, as the absence of regulation may complicate dispute resolution and limit recourse in case of financial discrepancies.
Trading Products and Services
What trading instruments does SCALPING DUKES offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major & Minor Pairs | Varies |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | None | |
| Cryptocurrencies | None |
SCALPING DUKES offers a diverse range of trading instruments, primarily centered around forex, commodities, and indices. This variety caters to different trading styles and preferences, making it suitable for both novice and experienced traders. Beginners can start with major forex pairs, while more advanced traders may appreciate the nuances of trading commodities and indices. The absence of stocks and cryptocurrencies reflects a focused approach, allowing traders to concentrate on specific asset classes. This multi-faceted offering supports portfolio diversification, enabling traders to implement flexible trading strategies across various markets.
Account Types and Trading Conditions
What Account Types and Fees Does SCALPING DUKES Offer?
| Account Type | Target User Group | Key Characteristics | Applicability Notes |
|---|---|---|---|
| Classic Account | Beginner traders | Modest initial deposit, standard spreads | Suitable for small-capital practice |
| Pro Account | Experienced traders | Tighter spreads, faster execution, higher leverage | Popular among regular scalpers and intraday traders |
| VIP Account | High-volume clients | Lowest spreads, personalized management, exclusive webinars | May include invitation-only events and bespoke analysis |
Account Opening Process
To open an account with Scalping Dukes, traders will typically follow these steps:
1. Submit personal information, including name, email, and phone number.
2. Provide employment and financial details as required.
3. Upload identity verification documents, such as a government-issued ID and proof of address.
4. Complete any additional verification processes, which may include a video call.
5. Once approved, traders can fund their accounts and begin trading.
Scalping Dukes allows for account flexibility, with options to upgrade to a professional account later.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | Varies | $0 | Tight spreads for major pairs |
| Forex (Minor Pairs) | Varies | $0 | Variable spreads based on market conditions |
| CFDs (Commodities) | Varies | $0 | Includes gold and oil |
| CFDs (Indices) | Varies | $0 | Includes S&P 500 and NASDAQ |
Other Fees
Traders should be aware of the following potential fees:
– Deposit and withdrawal fees may apply depending on the method used.
– Inactivity fees could be charged if accounts remain dormant for a specified period.
– Overnight interest (swap rates) may be incurred on positions held overnight.
– Currency conversion fees may apply when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does SCALPING DUKES Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 5 | Windows, macOS | Secure login (encryption), multiple order types, technical indicators, economic calendar | Demo accounts available |
| Web Version | Any browser | Secure login (encryption), market search, price alerts, push notifications | No demo accounts |
| Mobile App | iOS, Android | Secure login (biometrics), trading history analysis, interactive charts | Real-time alerts |
Scalping Dukes offers a range of platforms to accommodate various trading preferences. The MetaTrader 5 platform is ideal for traders who require robust analytical tools and advanced trading functionalities, while the web version provides convenient access without software installation. The mobile app enhances flexibility, allowing traders to manage their accounts on the go with real-time updates and alerts. Each platform emphasizes secure logins and efficient execution, ensuring traders can operate effectively across devices.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min $100, Max $10,000/day | USD, EUR |
| Credit/Debit Card | Instant | No platform fee | Min $50, Max $5,000/day | USD |
| e-Wallet (e.g., Skrill, Neteller) | Instant | 1.5% charge | Min $50, Max $10,000/day | USD |
Minimum Deposit
The minimum deposit requirement for SCALPING DUKES is $50. This amount is applicable for most payment methods. However, the minimum deposit may vary depending on the account type selected.
How to Withdraw
- Log in to your SCALPING DUKES account.
- Navigate to the ‘Withdrawal’ section in the account menu.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw and confirm your request.
- Complete any required verification steps, if prompted.
Customer Support
Scalping Dukes Customer Support Overview
Support Channels
Scalping Dukes provides multiple contact methods to assist customers effectively. Traders can reach out via:
- Email: Customers can send inquiries to support@scalpingdukes.com for assistance.
- Live Chat: A live chat option is available on the website for immediate help.
- Telephone: For direct communication, traders can contact support through the dedicated phone line.
- Social Media: Scalping Dukes may also offer support through their social media channels.
Service Availability
The customer support service operates during business hours, ensuring traders can receive help when needed. While specific hours are not detailed, it is common for forex brokers to provide support on a 24/5 basis. Multilingual support may also be available, catering to a diverse clientele.
Frequently Asked Questions
Scalping Dukes is not regulated by any recognized financial authority, which raises concerns regarding the safety and security of client funds. This unregulated status means there are no established oversight mechanisms to protect investors, and traders may face higher risks of fraud or financial discrepancies.
Scalping Dukes offers a diverse range of trading instruments, primarily focusing on forex, contracts for difference (CFDs), and commodities. The available products include major and minor forex pairs, gold, oil, and indices such as the S&P 500 and NASDAQ. However, there are no stocks or cryptocurrencies offered by the broker.
Scalping Dukes utilizes the MetaTrader 5 platform, which offers advanced trading capabilities including secure login, multiple order types, technical indicators, and an economic calendar. Additionally, a web version and a mobile app are available, allowing traders to access their accounts from various devices. Each platform emphasizes secure logins and efficient execution.
Customers can reach Scalping Dukes’ customer support through multiple channels, including email at support@scalpingdukes.com, live chat on the website, and a dedicated phone line for direct communication. Customer support operates during business hours to assist traders effectively.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.