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Dukascopy goes live with MetaTrader 5

Dukascopy Bank SA has announced the addition of MetaTrader 5 to its roster of trading platforms, including its proprietary JForex 4 as well as the popular MT4 platform by MetaQuotes.

The move – going live with MT5 after the successful completion of Beta testing – marks another milestone for the brokerage firm offering trading services in currencies, and commodities, including precious metals, indices, stocks, bonds, and cryptocurrencies.

MT5 offers more analytical tools, technical indicators, and the flexibility to cater to a wide range of trading activities. The advanced features of MT5 include:

  • Expanded set of technical indicators and timeframes for comprehensive analysis.
  • Economic calendar integration to keep you informed of financial events.
  • Depth of Market (DOM) view for deeper insights into market dynamics.

“The launch of MT5 is a testament to Dukascopy’s dedication to innovation and providing our traders with the best possible trading environment. We believe that MT5 will not only complement our existing platform offerings but also offer our clients unparalleled trading flexibility and analytical capabilities,” the company said in its announcement.

Dukascopy reported a 39% rise in profit

The Geneva-based firm’s latest earnings report was characterized by positive metrics in areas ranging from operating income to revenues, underpinning its guidance for the new year. Specifically, the forex bank witnessed a surge in its revenues, which came in at CHF 39.4 million. This figure is up by more than 18 percent from the CHF 33.2 million reported back in the same period a year ago.

This increase was mainly fueled by a rise in trading volume and a growing client base, as the bank pushed forward with plans to expand its service offerings. Additionally, net fee and commission income, which is a major component of the bank’s revenue, grew by 10%.

Operating expenses for the year reached CHF 28.9 million, a slight increase from CHF 26.6 million in 2022. These additional costs were linked to investments in technology and international expansion, which are part of the bank’s strategy to “boost its competitiveness and extend its global footprint.”

The broker’s ultimate bottom-line figure, which factored out interest receivable and other income also showed a strong year-over-year performance relative to 2022, having yielded a profit of CHF 8.5 million, up 39 percent from CHF 6.1 million in the previous year.

Dukascopy launched crypto lending program

Dukascopy has recently rolled out a novel lending product that allows customers to leverage their cryptocurrency holdings. The automated feature enables users to borrow up to 50% of the value of their digital assets in fiat currency while still retaining ownership of their original crypto investments.

Dukascopy Bank is now offering clients the option to secure a cash loan in U.S. dollars while keeping their cryptocurrency investments intact. Under the bank’s new lending program, clients can access a loan for up to half of the value of their cryptocurrency assets in fiat currency.

The lending program requires users to have a multi-currency bank account with the broker, which acts as a central hub for crypto lending. To make use of this feature, customers need to open a multi-currency bank account (MCA) and transfer the cryptocurrency they want to utilize. They can then access their digital assets in the “Investments” section and choose the “Crypto lending/borrowing” option.

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