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Dukascopy Obtains Securities Dealer License, Promises More FX Instruments

Switzerland, guarded by the mighty Alps, is also a safe place for the financial services sector, which is in its turn protected by rigid regulations and powerful watchdogs, like the the Swiss Federal Banking Commission and the the Swiss Financial Market Supervisory Authority (FINMA). The latter is a body well-known to Forex brokers operating in Switzerland, since it's the institution responsible for the sector and granting long-craved licenses. These take plenty of resources to obtain: first of all there is the time issue (the country is also famous for its watches); then, of course, the money matters (a banking license requires capital of about CHF 20 million/ USD 21.3 million) and then, there are a raft of requirements with which a company should comply. 

 
This is why we were so pleased when we understood that one of the best brokers out there – Dukascopy Bank SA, has managed to obtain a securities dealer license from FINMA. 
 
Ok, you may be wondering what kind of an achievement is that, since the company already has a banking license that allows it to operate as an FX broker in the country. Well, it is a big deal because securities dealers have the regulatory permission to offer trading with a wider variety of instruments. According to the Federal Act on Stock Exchanges and Securities Trading (SESTA), securities comprise all “standardized certificates which are suitable for mass trading, rights not represented by a certificate with similar functions (book-entry securities) and derivatives”. 
 
The last part of the definition is of most interest to us, as it basically states that securities dealers can offer trading with any sort of derivatives – this means that from now on, the sky is the limit for Dukascopy when it comes to the list of trading instruments on its platforms. 
 
And the company was in a hurry to promise that among the first additions to its instrument offering would be contracts for difference (CFDs) – the trading items that allow you to profit from changes in prices of the underlying assets without actually owning these assets. The broker says that the range of underlying assets you can choose from would amount to about 200 items – major indices, stocks, commodities, etc. - wow! The CFDs will be added later this year and the platform for demo CFD trading will be available soon. 
 
But the list of additions does not end here: according to a comment by the company on its Facebook page, before the launch of CFDs, there would be another addition to the menu of trading instruments – binary options on FX majors! Thus, traders can actually benefit from a very interesting trading tool at the blurred line between Forex and gambling. 
 
One reason for us being so impressed with Dukascopy's getting of a securities dealer license is the fact that the last award of such a license from the FINMA happened more than two years ago: MIG Bank was then the FX broker to enjoy this privilege.
We are now eagerly anticipating to see how Dukascopy will expand its horizons with this new license.
 
 

About Dukascopy

 
Dukascopy Bank is a Swiss forex broker operating out of Geneva. Holding an actual banking license, it is secure and well-regulated, and offers excellent trading conditions: very tight spreads and fast ECN execution through the SWFX Swiss FX Marketplace technology. 
 
Dukascopy offers desktop, web and mobile versions of its proprietary trading platform Jforex, as well as automated trading powered by ZuluTrade.
TAGS: dukascopy bank sa  dukascopy  forex broker  forex trading  swiss fx regulation  securities dealer license  switzerland forex  cfds  binary options 

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