Dukascopy broadens CFD offering with 28 Mexican stocks
Switzerland’s forex bank and broker, Dukascopy has just expanded its offering to include 28 new stock CFDs from Mexico, the Volatiltity Index (VOL.IDX/USD) and the South Africa Index (SOA.IDX/ZAR).
In a blog on its website, Dukascopy noted that the new offering was the result of a pent up interest in the trading of contracts-for-differences (CFD). It also expands the broker’s total number of stocks and ETfs to 1160. Indeed, many other brokers have recently opted to diversify into multi-asset trading, namely expanding their CFDs portfolio.
The broker further states that the new release is primarily focused on servicing the existing trading needs of their client base. Traders, both new to the platform as well as those longer-tenured have both expressed a desire to trade from a multi-asset, single-margin account.
The decision to broaden its offering into CFDs should yield immediate benefits for Dukascopy, especially given the affinity of the instrument by clients and the maturation of the CFD market across the industry.
During the last six years, the Switzerland’s forex bank and broker substantially invested in diversifying its range of products. Besides its traditional core business, the trading activity, Dukascopy has developed issuance, custody and exchange infrastructure for cryptocurrencies as well as retail mobile banking services including instant payments and card operations.
Meanwhile, Dukascopy has been taking steps towards strengthening its cryptocurrency offering, including allowing clients to deposit and withdraw funds in digital coins, as well as enabling free internal crypto-transfers between users of mobile banking. In 2020, it has become the first regulated bank to launch its own cryptocurrency – Dukascoin.
Most recently, Dukascopy users have gained access to ten new crypto instruments, including many within the realm of decentralized finance (DeFi). On top of that, the FX broker has significantly improved its overnights rates.
The bank and securities houses of Dukascopy Group are regulated in Switzerland, Latvia and Japan. The group offers multi-products (FX, bullion, CFD, binary options), desktop and mobile trading platforms together with a range of other financial services. This includes current accounts, guarantees, classical banking payments, instant payments via smartphones, and payment cards.