The global FX and CFDs broker Dukascopy is adding new trading services with crypto coins. This is the latest broker to do so, in a race for crypto-interested clients.
This Tuesday, the Swiss major broker revealed that it had added Bitcoin, Ether, and Litecoin to its CFDs contracts. It has been speculated that the main reason for this move is the rising interest in cryptocurrencies over the last year, which has launched an unofficial competition among global brokerages.
The MT4 offered by Dukascopy will adapt to these changes, adding the three aforementioned crypto derivatives to its list of available financial instruments. Users will be able to trade crypto using both live and demo accounts while also being able to take short and long positions.
The announcement disclosed that users of the Dukascopy Bank branch will take advantage of a 1:5 leverage to be applied when trading the crypto derivatives, while Dukascopy Europe’s user base will be allowed a 1:2 leverage cap. Additionally, the digital currencies will be listed against the USD.
In 2020, the broker boomed after the increased interest in retail trading caused by the COVID crisis. The operating income of the firm reached a total of CHF 40.1 million, or $43.59 million.
Meanwhile, the crypto market industry is going through some rough patches as big firms keep buying the major currencies, while China recently launched a major crypto-related crackdown.