Company News

26 April 2016

Dukascopy's JForex was announced "The Best Global Professional Trading Platform" on China Forex Expo 2016

During the "China Forex Expo 2016" in Shenzhen, Dukascopy's JForex platform was named "The Best Global Professional Trading Platform". This proves once again that JForex is a stable, technologically advanced and industry-leading platform. We would like to thank the China Forex Expo organizers for their professionalism and all of our customers for the support.
18 April 2016

Binary Anniversary Bonus

Following the recent update of binary trading conditions (extended options duration, higher contract amounts and payouts), Dukascopy is glad to unveil another update - The Anniversary Bonus program is now also available for Binary accounts.
Traders may apply for a bonus of 100% of the account equity within 30 days from the last account top-up. Find out more detailed conditions on the webpage.
12 April 2016

Meet Dukascopy in Shenzhen on April 16th–17th

Dukascopy Bank SA is participating in China Forex Expo 2016 on April 16th–17th
You are welcome to visit our booth during the exhibition days and meet our representatives in person.
 
4月16日-17日杜高斯贝与您相约在深圳
杜高斯贝银行将于4月16日-17日参加2016中国(深圳)金融商博会。
我们期待您莅临我们的展位并与商务代表进行个人会谈。
08 April 2016

FinDating got a new Owner

Dukascopy Bank SA is delighted to announce the sale of the Findating event to “The Lantern Research”. The Lantern Research is well-regarded for its event organisation in Switzerland, previously holding such events as the Lugano Fund Forum, Lugano Commodity Forum and other network events in the country.

"After the triumph of the first Findating event last October 2015, we have decided to hand over this project to a company which has an impressive reputation of organising financial events in Switzerland. We consider The Lantern Research team to be the best solution to help build on the success of Findating moving forward. We are aware of the great potential of this event in Geneva and we are relying on the capability of Lantern Research to ensure the continued success of the event. This hand over will allow Dukascopy Bank to focus on continued development of our Dukascopy TV, Dukascopy Payments and core brokerage activity." Andre Duka – CEO Dukascopy Bank.

"We are happy to take on this new challenge in such an established financial centre like Geneva and we are prepared to use all of our experience to develop the Findating event for the future. This new challenge consolidates our presence in Switzerland as well as introducing our organisation to a global audience. We have gained experience working with established banks and financial companies such as Credit Suisse, UBS, BNP Paribas and many others and we are seeking to bring all of them with us in this new exciting adventure in Geneva. A Keynote Speaker has already confirmed his participation - Dominick Salvatore, distinguished Professor of Economics at Fordham University in New York- and many others will attend the event with the purpose to create a unique market place of financial knowledge and ideas exchange. We thank Dukascopy Bank SA for the great opportunity and we are looking forward to getting ready for the next Event in June 2016" Riccardo Esposito – CEO The Lantern Research.

The next Financial Dating event is set to take place on the 23rd of June 2016, at the prestigious Four Seasons Hotel in Geneva. For more information and to register your interest, please visit the website www.findating.com and www.findating.ch
Further information and regular updates can be found on Twitter, @FinancialDating.

07 April 2016

Updates in binary options trading conditions

A new set of trader-friendly trading condition updates have been implemented to the binary options trading service:
  • Up/Down options maximum duration has been extended from 60 minutes to 24 hours.
  • Maximum contract amounts have been doubled and are now equal to maximum instrument exposure. Now the order amount limit is 10,000 USD per option.
  • Payouts have been increased for Daily Stock options and Pair Binaries. Base payouts are now set at a high of 80% compared to 70% previously.

Dukascopy believes the updates will be appreciated by traders and will cater for an even more flexible trading experience. 

22 March 2016

DST and Easter Weekend

Change to daylight savings time:
This Sunday, 27th March, clocks will be set forward by one hour in many countries of the northern hemisphere. While there is no change in the Dukascopy opening hours from Sundays at 21:00 GMT to Fridays at 21:00 GMT, the change to summertime means that market will again open at the normal time of 23:00 for Western European Traders. In Europe clocks will be set back to wintertime on Sunday 30th October 2016.

Please beware of low liquidity and the possibility of interruptions on Friday 25th March and Monday 28th March.

Easter Weekend market hours:

  Thursday 24.03 Friday 25.03 Monday 28.03
FX      
 
Gold & Silver   closed  
 
Commodities  
BRENT   closed  
LIGHT   closed  
 
Indices  
AUS close 13.00 closed closed
CHF   closed  closed
DEU   closed  closed
ESP   closed  closed
EUS   closed  closed
FRA   closed  closed
GBP   closed  closed
JPN   closed  
HKG   closed   closed
USA30   closed  
USA500   closed  
USATECH   closed  

 

11 March 2016

Meet Dukascopy in Poland on March 11th and 12th

Dukascopy Europe (EU-based subsidiary of Dukascopy Bank SA) is participating in "Expo FXCuffs 2016" exhibition in Krakow on March 11th and 12th.

You are welcome to visit our booth during the exhibition days and meet our representatives in person. 

10 March 2016

CFD on single stocks launched on DEMO

The range of tradable CFD instruments at Dukascopy Bank and Dukascopy Europe has been extended by one more type of instrument  CFD on single stocks. The start is made with 35 stocks of one of the top European markets Germany.
 
Currently the new instruments are available in DEMO and for Self-Trading accounts only, but LIVE environment is to follow soon. New CFD instruments can be added using the instrument selector in the trading platform.

The plan is to gradually launch CFDs on the most interesting shares from all major stock markets. 

09 March 2016

Change to Daylight Saving Time

Clocks will be advanced by 1 hour this Sunday 13 March in the US eastern time zone (EST). The FX trading day ending at 5pm NY time, Dukascopy Market opening and settlement time will be changed from 22:00 GMT to 21:00 GMT effectively this Sunday 13 March 2016.

Clocks will return to Winter schedule on Sunday 6th November. 

04 March 2016

Reduction of maximum leverage on HKD positions (updated)

Following yesterday’s announcement regarding the impending reduction of maximum leverage on USD/HKD currency pair to 1:10 amidst concerns of peg abolition and possible subsequent high volatility and low liquidity, we would like to specify that this reduction will also be applied to all HKD pairs, including HKD/JPY, CAD/HKD and EUR/HKD.

Reduced leverage on HKD-containing pairs has already been applied to accounts with no open HKD positions. We remind that reduction of maximum leverage for HKD positions to 1:10 on remaining accounts will happen on 9 March 2016 at 11:00 GMT.

03 March 2016

Reduction of maximum leverage on USD/HKD exposures

Due to possibility of abolishment of the USD/HKD peg and the probable subsequent high volatility and low liquidity on that currency pair, there is an increasing risk of significant price gaps, which may cause negative equity on client accounts. Because of that Dukascopy Bank and Dukascopy Europe are forced to reduce maximum leverage for exposures on USD/HKD to 1:10 as of 9 March 2016 at 11:00 GMT.

Traders are invited to estimate their margin usage at the moment that the leverage reduction on USD/HKD will be applied and adjust their exposure if needed.

Please note that for all accounts where there is no such USD/HKD exposure the lower maximum leverage will be applied today, 3 March 2016 after 14:00 GMT. 

16 February 2016

Meet Dukascopy in London on February 19th

Dukascopy Europe (EU-based subsidiary of Dukascopy Bank SA) is participating in "London Forex Show" exhibition on Friday, February 19th.

You are welcome to visit our booth during the exhibition day and meet our representatives in person. 

12 February 2016

Beware of reduced liquidity on Monday 15 February due to US market closure on Presidents day.

FX
• Regular trading hours
GOLD & SILVER
• Trading stops at 18:00 GMT on Monday 15 February
• Markets re-open at 23:00 GMT on Monday 15 February
CFD INDEXES
• Trading stops at 18:00 GMT on Monday 15 February for the USA30.IDX/USD, USATECH.IDX/USD, USA500.IDX/USD
• Markets re-open at 7:00 GMT on Tuesday 16 February
• Trading stops at 18:00 GMT on Monday 15 February for the JPN.IDX/JPY
• Markets re-open at 1:00 GMT on Tuesday 16 February
CFD COMMODITIES
• Trading stops at 18:00 GMT on Monday 15 February for the LIGHT.CMD/USD
• Markets re-open at 23:00 GMT on Monday 15 February 

05 February 2016

Dukascopy TV on Android Smart TV

Dukascopy TV application now supports Android Smart TV. Dukascopy TV is one of the richest sources of Forex-related shows, with daily broadcasts that you can watch on your Android Smart TV. Dukascopy TV provides access to daily news releases, technical and fundamental analysis of market trends, and much more.
 
Click here for more information and download link.

Apple TV version is under development and will be available shortly. 

05 February 2016

Market closures during Chinese New Year

FX
Regular trading hours
Beware of reduced liquidity for USDCNH and HKD instruments during Chinese New Year celebrations next week.

GOLD & SILVER

Regular trading hours

CFD
Trading remains closed on Monday 8 February, Tuesday 9 February and 10 February for the HKD.IDX/HKD

The Market re-opens at 1:30 GMT on Thursday 11 February

20 January 2016

Online media license of Dukascopy TV

Dukascopy TV has received a license of Federal Office of Communications from Swiss state regulator OFCOM. As such, Dukascopy TV is now officially recognized as a Swiss Financial Television channel: http://www.bakom.admin.ch/...

Full text is HERE

15 January 2016

Martin Luther King day

Beware of reduced liquidity on Monday 18 January due to US market closure on Martin Luther King holiday.


FX
Regular trading hours


GOLD   SILVER
  • Trading stops at 18:00 GMT on Monday 18 January
  • Markets re-open at 23:00 GMT on Monday 18 January


CFD INDEXES
  • Trading stops at 18:00 GMT on Monday 18 January for the:
    • USA30.IDX/USD
    • USATECH.IDX/USD
    • USA500.IDX/USD
  • Markets re-open at 07:00 GMT on Tuesday 19 January
  • Trading stops at 18:00 GMT on Monday 18 January for the:
    • JPN.IDX/JPY
  • Markets re-open at 01:00 GMT on Tuesday 19 January


CFD COMMODITIES
  • Trading stops at 18:00 GMT on Monday 18 January for the:
    • LIGHT.CMD/USD
  • Markets re-open at 23:00 GMT on Monday 18 January
12 January 2016

Reduction of maximum leverage on USD/CNH exposures

Due to the current high volatility and low liquidity on USD/CNH, there is an increasing risk of significant price gaps, which may cause negative equity on client accounts. Because of that Dukascopy Bank and Dukascopy Europe are forced to reduce maximum leverage for exposures on USD/CNH to 1:10 as of 15 January 2016 at 11:00 GMT.

Traders are invited to estimate their margin usage at the moment that the leverage reduction on USD/CNH will be applied and adjust their exposure if needed.

Please note that for all accounts where there is no such USD/CNH exposure the lower maximum leverage will be applied today, 12 January 2016.

Please further note that Swaps in USD/CNH have seen a dramatic price shift from less than 10 pips last week to above 100 pips as of today (for long USD positions).

5 January 2016

FINMA's Christmas circular

FINMA opens the discussion on online client identification through the Internet and declares its support of FinTech.

 
FINMA's initiative is a great Christmas present for the finance industry. It is definitely positive, long-awaited by the professional community and has been widely supported by the press. L'Agefi, Bilan, Le Temps and Finnews initiated the public discussion of this topic a year ago.
 
The point of the question is: should it be allowed for Swiss financial institutions, including banks, to accept, instead of certified copies of clients' identity documents (ID), uncertified copies (simple copies), as it is done in most of the competing jurisdictions such as the USA and European Union?
 
Essentially, all the participants of the process - FINMA, Swiss Bankers Association and of course the banks, are unanimous: simple copies have the right to life in Switzerland, and should have value as evidence of identity, which is not yet the case under the current Swiss legislation. This is the very reason why FINMA's initiative is in fact revolutionary.
 
But when it comes to procedures and ways of using such copies, discord is reigning: everybody has their own opinion on details, and it is well known that the true meaning hides in the details. It depends precisely on the details, whether FINMA's regulatory initiative is going to be useful to the industry or not. The way I see it, FINMA's project requires only a few improvements in order to become truly successful. Not for the sake of criticism, but simply in order to make a feasible contribution to the debate, I will touch upon a few key aspects.
 
Unfortunately, FINMA has set too short a deadline (18 January 2016) for the public discussion of its initiative: most of the allocated time falls on Christmas and New Year holiday periods. I think it would be good to extend this deadline, so people can express their opinions and an actual discussion can take place.
 
Now let us discuss the really important details. Here is the first of them. FINMA suggests allowing the use of simple copies of ID in cases when the first transfer on the account opened by the client is executed from another account of this same client in another Swiss bank. This first transfer is used as a confirmation of the client's identity. It is not a secret that Swiss banks' services are export-oriented. In fact, limiting this first transfer exclusively to Swiss banks would considerably reduce the usefulness of this initiative by limiting to the Swiss market.
 
In competing foreign jurisdictions, this kind of regulation is not limited to only transfers from banks of the same jurisdiction. Moreover, this regulation works very well and has been tested very well in Europe. I can bring up the example of the practice of Dukascopy Bank's European subsidiary, which has been opening hundreds of accounts each month under this procedure for several years, and never had any problems with the identification of clients under the corresponding procedure. This is why, in order not to devalue FINMA's initiative, I suggest extending the norm of this first transfer to foreign banks as well. Of course, with the statement that these banks must be subject to adequate anti-money laundering regulations, as it is the practice abroad.
 
It would make sense to remind that at the present day, we allow potential clients to have copies of their ID certified (as true copy of the original) by a foreign bank for identification purposes. As it certifies our potential clients' ID, the foreign bank takes virtually no risk. However, we rely on it... Then why should we not rely on its first transfer? Especially if we take into account that this bank bears a fully tangible regulatory responsibility for wrong client identification as it proceeds with the transfer. And this responsibility is much stricter than in case of a wrong ID certification for our potential client.
 
The next detail in FINMA's suggestion that attracted my attention is the initiative that requires the financial institution to perform the verification of ID authenticity with the help of technical means in the process of client identification. The keyword here is “technical means”. I would like readers to understand the important difference between the current “authentication” and the new one proposed by FINMA. So far it was enough to get a confirmation that the ID copy was a true copy of the original (current certification), while now the FINMA wants the institution to verify the authenticity of the original ID (detection of forged ID) based on the copy, which is a new requirement.
 
I think that the banking community has been reluctant to introduce such a norm. Indeed, such a procedure would be disproportionate and counter-productive, as it would ultimately lead to the transformation of compliance departments and front offices of banks into a semblance of border checkpoints. That would involve a huge number of employees and as a consequence, can probably create an interesting new market for software producers, but unfortunately not for the banking industry.
 
I am afraid that no foreign authority of a major financial center requires this kind of technological procedure, neither in case of identification “in person”, nor in case of identification through the Internet. It seems to me that the attempts to catch up with the foreign competitors without taking their experience and practice into account might lead to a new serious disadvantage for Swiss institutions. Furthermore, requiring the banks to proceed with the authentication of IDs with the help of technical means makes the circular technologically non-neutral, contrary to what FINMA pretends. As a logical consequence, FINMA will ask financial institutions to do new controls based on newly available technology instead of moving towards more swiftness and competitiveness. This is not the expectation of the industry.
 
These are all the comments I can make on possible improvements of the circular proposed by FINMA. Even though there are only two, I hope that my suggestions will be taken into account and will positively influence the competitiveness of the Swiss banking system. I thank FINMA for its initiative and wish FINMA and the entire Swiss banking industry a very successful New Year 2016! 
 
Dr. Andre Duka, co-CEO-CTO, Dukascopy Bank SA
28 December 2015

Holidays in Russia

Please beware of holidays affecting trading of the Russian Ruble in coming days. As of Thursday 31 December and until Monday 11 January markets in Russia will celebrate New Year and Christmas holidays. This will lead to reduced liquidity where prices of the RUB may be very wide or become unavailable altogether.

Please further note that RUB has no value date from 31.12 to 8.01. On positions that are kept open during 22:00 GMT settlement on Tuesday 29 December a 12-day rollover will be applied.

We recommend to close existing positions and refrain from trading RUB over the holiday period.

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