In a note sent to clients, Dukascopy announced that it had lowered its commission structure by 27% and average spreads for the EURUSD during the European session were 0.57 PIPS. They also announced that their EU Subsidiary, Dukascopy EU lowered its minimum deposit size to $100. (The EU Subsidiary offers similar trading conditions as its Swiss parent and is based in Latvia and regulated by the FCMC) With 2012 delivering across the board declines in trading activity, the decrease in minimum deposit size could be based on Dukascopy’s desire to broaden the size of its user base and target smaller accounts. Earlier this month, we reported Dukascopy’s 1st half figures for 2012 which showed the company was cutting expenses this year. Therefore, after working on streamlining their operations to improve earnings, the broker may now be applying its growth strategy.
In addition, after opening a Hong Kong office earlier this year, Dukascopy stated that it plans on opening more offices throughout the world, specifically in Moscow and Kuala Lumpur. According to Luis Sanchez, Senior Relationship Manager at Ducascopy, due to regulation restrictions in Malaysian, the planned Kuala Lumpur location “will be a representative office which will not be allowed to unfold commercial activities and will not promote locally.”
I would like to take a moment to share with you some recent exciting news concerning the Dukascopy Group. It is my pleasure to announce that recently we have decreased the trading commissions for retail traders to 27%. Now, the combination of our decreasing commissions and very tight spreads (today, the average value of EUR/USD spread was 0.57 pips during the European trading session) provides extremely competitive trading conditions.
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During this year, we started to provide Islamic accounts, debit/credit card funding facility and became closer to our worldwide clients by opening representative offices in Hong Kong and Kiev. Kuala Lumpur, Moscow and others will follow soon. A video reception is being finalized so as you can see us and share documents while speaking with us.
Furthermore, now clients may open accounts as small as USD 100 by providing simple electronic copies of documents. This easy account opening procedure is provided by our EU subsidiary “Dukascopy Europe” for clients residing in EU, Australia, Canada, Brazil, India, Hong Kong, Korea, Mexico, Singapore, South Africa, and many other countries.
At Dukascopy Bank SA, the minimum deposit is USD 5,000. Our Swiss bank also provides an increasing scope of banking services.
Other exciting news will come soon. We keep on working at being different and offering services of the very best quality.
All the best,
CEO, Dukascopy Bank SA