Dukascopy's H1 2022 Profit Increases 195 Percent Year on Year to CHF 3.8 Million

The majority of the profit was earned in the first four months of the fiscal year 2022.

The broker's revenue has also climbed dramatically over the previous quarters.

For the first six months of 2022, Dukascopy Bank SA, a retail FX and CFD brokerage located in Geneva, claimed a rise in revenue and earnings, reversing its previous year's performance.

The broker's income for the period was CHF 14.4 million ($15.1 million), up from CHF 11.3 million in the same period the previous year. It was a 27 percent increase over H1 2021 and a 37 percent gain over H2 2022.

Despite the increase in income, the brokerage was able to reduce its operating costs, notably employee costs. Its operating costs for the first half of the year were CHF 9.9 million, down from CHF 11.39 million the previous year.

Between January and June, the Swiss broker earned a net profit of CHF 3.8 million, a 195 percent increase over the CHF 1.44 million earned in the same period the previous year.

Performance Shift

After dropping to CNF 2.1 million in 2021, Dukascpoy announced strong H1 2022 results. However, the broker unexpectedly released its performance for the first four months of 2022, which showed a scaling up of its performance.

In the first quarter of 2022, the Swiss-based broker made CHF 2 million in earnings, with an extra CHF 1.5 million in April. According to such numbers, the firm only earned around CHF 300,000 in May and June.

Dukascopy, which is regulated in Switzerland, Latvia, and Japan, is also improving its customer service. It developed a peer-to-peer cryptocurrency marketplace that allowed Tether deposits and withdrawals.

Furthermore, the brokerage firm has obtained permission from the Swiss financial market authority to provide bitcoin custody services.

What exactly is DukasCopy？

Dukascopy is a broker and a bank that was founded in 2004 and has had a Swiss bank license since 2010. Dukascopy is regulated by FINMA (Switzerland) and JFSA (Japan); the company's headquarters are in Geneva, Switzerland, and it has offices in China, Japan, Latvia, Malaysia, Russia, Ukraine, and the United Arab Emirates.

Dukascopy provides its own JForex 3 trading platform, which allows algorithmic trading, configurable indicators, and hundreds of applications in the Dukascopy app store. The well-known MT4 trading platform is also supported.

Over 60 forex pairs, Bitcoin, Ethereum, their own Dukascoin (symbol: DUK+), and CFDs on stock indexes, bonds, precious metals, and commodities are among the trading instruments offered by Dukascopy.

Dukascopy TV is a one-of-a-kind studio in Geneva that features incisive market research and interviews with industry leaders.

Dukascopy offers a live economic news calendar, a news feed from MarketPulse and Reuters, the SWFX Sentiment Index, and a variety of additional trading tools.

Accounts may be opened with either Dukascopy Bank (Switzerland) or Dukascopy Europe. The Swiss branch demands a $5,000 initial deposit vs $100 for the European branch, and investor protection restrictions vary by country.

Awareness

This page is not intended to critique Dukascopy's about their regulation, but rather to educate readers that, according to the WikiFX database, Dukascopy is not regulated. They claimed to be controlled by FINMA, however no results were found when checked on FINMA's official website.

Because of the complexities of the forex sector, some brokers are granted legal licenses by fraudulent regulating agencies. If you believe that the data provided by WikiFX is inaccurate, please contact us by clicking “Complaints” and “Correction.” We will check right away and report back.

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