Dukascoin Now Available for Trading in FX, Crypto and More

Swiss foreign exchange (forex) bank, Dukascopy Bank, has expanded the capabilities of its cryptocurrency Dukascoin. According to the statement released this Tuesday, traders can now use Dukascoins for its margin Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term.

Through the new Dukascoin funding mechanism, the company’s coin can be used to trade on the entire range of speculative instruments on Dukascopy’s margin trading platform, the statement said.

This means clients can now use their Dukascoins to fund their trading accounts and to invest in currencies, precious metals, indices, stocks, bonds, Bitcoin, Ethereum, oil, gas and further commodities.

Commenting on the announcement, the Chief Executive Officer of Dukascopy Bank Andre Duka said: "It is a traders's dream that trading collateral may bring you up to 100% of passive income per year. I'm happy that by extending the use of Dukascoin further it becomes a truly unique crypto currency. We are devoted to create paradise for investors."

Dukascopy is First Regulated Bank to Launch ICO

As Finance Magnates reported, Dukascopy launched their cryptocurrency at the end of February, despite the bear that had haunted the digital asset industry for months. In fact, the coin was launched one day earlier so it could save its self-described designation as “the first regulated bank to launch an ICO.”

Initially, the tokens were given as rewards for using Dukascopy’s Connect 911 messenger and the associated MCA accounts. The Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term bank revealed earlier that every client could get five Dukascoins by opening an MCA account and an equal amount will be granted to a referrer if any.

In the future, the forex bank plans to allow the combined and simultaneous usage of Dukascoins for its clients. This means that traders can use their tokens as margin trading collateral and place them on income generating deposits.

Just before the launch of Dukascoins, Finance Magnates sat down with the CEO of Dukascopy to learn more about the cryptocurrency - its purpose, its future, regulation and more.