Dukascopy Bank

Last updated
Dukascopy Bank SA
Industry Financial services, foreign exchange market, money market
Founded2004
FoundersAndre Duka, Veronika Duka
HeadquartersRoute de Pré-Bois 20 Meyrin, Geneva, Switzerland
Key people
  • Andre Duka (Co-chairman of the executive committee, co-CEO & CTO)
  • Veronika Duka (Co-chairman of the executive committee, co-CEO & Chief administrative officer)
  • Irina Kupriyanova Vedeneeva (Chief financial officer)
  • Andrei Bagautdinov (Chief integration officer)
  • Wajih Rais (Chief risk officer)
ServicesCurrency trading, online trading, banking
Number of employees
300+
Subsidiaries Dukascopy Europe IBS AS, Dukascopy Japan, SIA Dukascopy Payments
Website www.dukascopy.com

Dukascopy Bank is a Swiss online bank which provides online and mobile trading, banking and financial services. [1] [2] [3] Headquartered in Geneva, Switzerland, it also has offices in Riga and Tokyo, with over 300 employees. [4] [5]

Contents

Services

Dukascopy Bank provides online and mobile trading services including foreign exchange, CFDs for stocks, metals, commodities, indices, cryptocurrencies, and binary options. Dukascopy Bank also offers current account, e-banking, and credit card services. [6]

Regulation

Dukascopy Bank is regulated by the Swiss Financial Market Supervisory Authority (FINMA) both as a bank and a securities dealer. [7] It has three subsidiaries, namely Dukascopy Europe IBS AS, a licensed brokerage company based in Riga, [8] Dukascopy Japan, a Type-1 licensed broker located in Tokyo, [9] , and SIA Dukascopy Payments, a European licensed payment and e-money company incorporated in Riga. [10]

Dukascopy Bank is a member of the Swiss Bankers Association since 2012. [11] [12]

History

In 2004, Andre Duka together with his partner Veronika Duka created Swiss brokerage house Dukascopy. In 2006, Dukascopy launched its ECN, the SWFX Swiss Forex Marketplace. [13]

In August 2014, the district court of the canton of Zürich confirmed the conviction of three investment managers who had been found guilty in 2012 for churning clients' funds using Dukascopy's platform. Although no criminal charges were brought against Dukascopy, the bank was ordered to disgorge 775,000 francs of unlawful profit. [14] [15]

In January 2015, Dukascopy Bank SA acquired 100% of Alpari Japan K.K., Tokyo (a distressed subsidiary of Alpari Group). [16] At the same time, Dukascopy, together with other brokers, campaigned for deregulation of the Swiss investment market. [17] [18]

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References

  1. ↑ "Dukascopy Bank SA: Private Company Information - Bloomberg". Bloomberg News .
  2. ↑ "Dukascopy Bank SA Company Profile". Dun & Bradstreet . Retrieved 2024-04-11.
  3. ↑ Zaki, Myret (2023-05-01). "La jeune clientèle veut moins de banque traditionnelle et plus d'autonomie" . Bilan (in French). Retrieved 2024-04-11.
  4. ↑ "Dukascopy Bank hat SNB-Entscheid antizipiert". finews.ch. 1 September 2015.
  5. ↑ "Dukascopy Group". Dukascopy. Retrieved 2024-04-11.
  6. ↑ Zaki, Myret. "L'avenir est dans la finance mobile". Bilan (in French). Archived from the original on 2018-06-12. Retrieved 2024-04-11.
  7. ↑ "Approved Institutes People and products". FINMA. Archived from the original on 2018-06-26. Retrieved 2024-04-12.
  8. ↑ "Dukascopy Europe IBS AS". FSMA (in French). Retrieved 2024-04-12.
  9. ↑ "Financial Instruments Business Operators" (PDF). Financial Services Agency . Retrieved 2024-04-12.
  10. ↑ "Dukascopy Payments SIA". thebanks.eu. Retrieved 2024-04-12.
  11. ↑ "Member institutions". SwissBanking. Retrieved 2024-04-12.
  12. ↑ "New membership with the Swiss Bankers Association". www.dukascopy.com. 2012-11-23. Retrieved 2024-04-12.
  13. ↑ ""Wir haben den Swiss Dream realisiert"" (in German). www.finews.ch. 17 November 2014. Retrieved 2024-04-12.
  14. ↑ Schmuck, Pascal (2014-09-04). "L'étau se resserre sur les rétrocommissions" . Tribune de Genève (in French). Retrieved 2024-04-12.
  15. ↑ Flubacher, Rita (2014-09-03). "Handeln bis zum Exzess" . Tages-Anzeiger (in German). Archived from the original on 2016-08-25. Retrieved 2024-04-12.
  16. ↑ "Dukascopy Forex Broker, Dukascopy Review, Dukascopy Information". EarnForex. Retrieved 2024-04-12.
  17. ↑ Farine, Mathilde (2015-01-13). "La banque en ligne genevoise Dukascopy s'attaque à la réglementation suisse «désuète»". Le Temps (in French). Retrieved 2024-04-12.
  18. ↑ Zaki, Myret (2015-01-13). "Le trading en ligne désavantagé en Suisse". Bilan (in French). Retrieved 2024-04-12.
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