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by ForexNewsNow Team on October 10th, 2018

Ethereum CFDs are now available in Dukascopy Bank

Dukascopy Bank, a provider of a leveraged CFD trading on price movements and value estimations of cryptocurrencies, will offer its clients trading operations on Ethereum to US dollar (ETH/USD) CFD. Starting from today, trading on ETH/USD CFD is available for Dukascopy Bank and Dukascopy Europe self-trading accounts. The applicable leverage will be 1:3 in Dukascopy Bank and due to ESMA regulation, 1:2 in Dukascopy Europe.

To underline its leadership in the Forex industry, a Swiss-based Forex broker Dukascopy Bank provides Overnight Policy to its CFD clients by applying different rollover rates ”to ensure that higher trading turnover for a client, results in better overnight conditions”.

Ethereum will be available for clients with Mobile Current Account (MCA) as well. They will be able to hold Ether on their Dukascopy Bank accounts and transfer it to other MCA clients. Same as Bitcoin, these operations will be instant and the clients will not have to pay anything for them.

Ethereum is a blockchain-based software platform and the world’s second largest cryptocurrency. The code written on the Ethereum can’t be altered, tempered, or hacked. This feature makes this cryptocurrency an interesting application of the blockchain technology.

Dukascopy Launches a Crypto Gateway

While mainstream Swiss banks have largely distanced themselves from crypto companies, Dukascopy has moved forward with the acceptance of crypto and earlier this year, it revealed the plans about letting crypto-related companies open business accounts in the Bank. In addition to the Ethereum CFD news, the Bank announced the upcoming launch of a dedicated crypto gateway, which will enable the clients to use their Dukascopy accounts while withdrawing and depositing funds in digital currencies.

The customers of Dukascopy Bank will be able to transfer money to/from the bank not only in FIAT currencies but also in cryptocurrencies to/from their crypto wallets. Currently, the Bank is waiting for the green light from FINMA for the approval of its crypto ICO project, which aims at the launching of its own coins:

  • Dukascoins
  • Dukasnotes

By providing such innovations, Dukascopy Bank proves that it is a crypto friendly bank, which aims at attracting critics to improve the concept and eliminate mistakes in its strategies, and calling the experts in crypto smart contracts development to cooperate with the Bank.

By ForexNewsNow Team

This is a general account of the ForexNewsNow Team. It is used to published exclusive content carefully crafted by our experts as well as it is used to bring you the most recent industry highlights from our guest contributors that wish to remain anonymous.

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