Dukascopy Bank, a Swiss forex bank and brokerage firm, announced this Tuesday that it has extended the number of tradable instruments on its platform by introducing contracts for differences (CFDs) on two soft commodities, as well as expanding the range of Indices.
Specifically, the two new commodities have been added to Dukascopy’s range of financial instruments – Cocoa (COCOA.CMD/USD) and Sugar (SUGAR.CMD/USD). Furthermore, the brokerage has also added a new stock index – Poland Index (PLN.IDX/PLN). All three instruments have been added on Live and Demo trading platforms.
In addition to announcing the three new financial instruments, the Switzerland-based broker also revealed today that it would soon add three more commodities for trading in the near future.
These three commodities are Coffee (COFFEE.CMD/USX), Cotton (COTTON.CMD/USX) and Orange Juice (OJUICE.CMD/USX). The statement released today does not give a date for when these instruments will be available to trade.
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For the newly-added commodity instruments, Dukascopy has set maximum leverage of 1:30. For the Poland Index, the maximum leverage is 1:100. For Dukascopy Europe account holders, a leverage of 1:10 is applied, the statement said.
Dukascopy Shifting Focus to Crypto
The addition of new commodity financial instruments comes at the same time that the Swiss company is expanding its operations into the cryptocurrency industry. As Finance Magnates reported, in January of this year the broker launched the website for its cryptocurrency, Dukascoin, as well as the whitepaper.
In addition, the FX bank also announced that it has recently partnered with bitcoin exchange Bitstamp to enable crypto funding on its platform. Dukascopy has made the strategic decision to become a crypto-friendly bank and shared plans last year to launch a dedicated crypto gateway which is now live testing the crypto-funding functionality.
On the platform, Dukascopy customers can exchange US Dollars for bitcoins, in the same way, they would with any other currencies. They can also withdraw funds back to their cryptocurrency wallets in the form of bitcoins.