FINMA regulated Forex broker operating as Dukascopy Bank in Switzerland is opening a new office in the country, following its head office located in Geneva, the bank is setting up shop in the center of Zürich, Forex Magnates has learned.
After expanding its presences in other countries with offices opened in Hong Kong, Kiev and Moscow, Dukascopy Bank is looking to build on its support of Swiss-German clients, as described in the prepared statement regarding the news. The new office was established in response to an increased demand from customers in that region, and in an effort to provide them with a local service.
The office will be located on Bahnhofstrasse 52, in the center of Zurich, an address described by the bank as one of the most exclusive avenues in the world, and a location easily accessible by clients.
Dukascopy has offered seminars in the city as Zurich remains one of the most populated regions in Switzerland, with the upcoming seminars scheduled for April.
Turkish Lira Trades Near Record Lows on Unorthodox Monetary PoliciesGo to article >>
The bank says that the online retail Forex Market has been growing in volume from 123 billion USD in 2006 to 325 billion USD per day according to estimates, making it the biggest market in the world.
This growth is also proportionally in line with the $5.3 trillion that overall foreign exchange market volumes have grown to since then, as measured every three years by the Bank for International Settlements (BIS) based on surveys of central banks.
This trend was also attributed to taking place in Switzerland, which in addition to being an attractive financial center, is home to the Swiss franc – one of the world’s major currencies.
Alain Broyon, CEO of Dukascopy Bank, said regarding the news, “We are confident in our future growth as our bank is well positioned in Switzerland and features one of the best trading technology and extremely low trading commissions/spreads, which are important elements of success. As a specialised Forex Bank, we can provide individuals 3 times lower trading commissions than the other Swiss banks or brokers. After the success of our Hong Kong and Moscow offices, we expect the Zurich office to reach the same results. Our Zurich office will enable us to offer a fully dedicated personal support to all our Swiss German clients. I already welcome all of them to visit our office.”
The news follows just days after Forex Magnates reported about the Geneva Forex Event it attended last week, and coverage of the bank’s TV studio.