Dukascopy Bank SA; one of Europe’s Biggest Forex Exchange, has decided to enter the crypto market by allowing trading of Ethereum CFDs, in what could be excellent news for the European Ethereum ecosystem.
The Dukascopy team commented in an official announcement that this new service will be available starting today, making it possible for many clients unfamiliar with Ethereum to have more significant exposure to this cryptocurrency:
“Starting from today trading on ETH/USD CFD is available for Dukascopy Bank and Dukascopy Europe self-trading accounts. ETH/USD trading conditions are similar to BTC/USD. The applicable leverage for this CFD type will be 1:3 in Dukascopy Bank and due to ESMA regulation 1:2 in Dukascopy Europe.
Dukascopy: Legally Compliant Ethereum CFDs Available for Everybody
It is important to note that in addition to being registered as a Swiss Bank, Dukascopy is also licensed to operate as a broker. Both permits are issued by the Swiss Financial Market Supervisory Authority (FINMA).
Thanks to its legal support, Dukascopy provides users with the confidence to have their funds safe in a transparent and legally secure environment.
Until recently, Dukascopy focused exclusively on fiat money transactions. One of the most important services offered by Dukascopy is contracts for differences or CFDs: it allows trading on the UK Brent and US Crude, more than 10 indexes including the IBEX 35, the Euro Stoxx, the DAX, the CAC among the Europeans ones and more than 30 German shares.
Innovation is Key for Financial Markets
By innovating and adding the possibility of trading Ethereum CFDs, Dukascopy will not only increase its user base but will also expand its reach, which was primarily focused on Europe.
Dukascopy aims to keep evolving as a financial services provider. As the public gains exposure to cryptocurrencies, the bank plans to offer deposit and withdrawal services for checking and trading accounts:
“Crypto funding means that clients of Dukascopy Bank will be able to transfer funds to/from the bank not only in FIAT currencies, but also in crypto currencies to/from their crypto wallets. At first the bank will test the crypto funding concept on bitcoin. The crypto funding element should become a significant part of Dukascopy’s infrastructure which later will be used also for its own cryptocurrencies.”