Switzerland-based forex broker Dukascopy Bank announced the launching of its contract for differences (CFDs) on Ethereum, according to the online bank’s press release, dated October 9.
The trading conditions for the said CFDs will be similar to Bitcoin/US dollar, which it began offering earlier this year. The maximum leverage for the said CFDs will be 1:3, since it is subject only to Swiss policies. But its subsidiary, Dukascopy Europe, will be offering the service at 1:2 leverage since it is compliant to EU regulation.
Dukascopy Bank wrote in the announcement:
Except for marginal trading operations, Ether will be available for clients with Mobile Current Account (MCA). They will be able to hold Ether on their Dukascopy bank accounts and transfer it to other MCA clients. Same as Bitcoin, transfers of Ether CFD between MCA clients will be instant and free of charge.
The forex broker also said that it will be having more updates rolled out in the near future, including the offering of withdrawals and deposits for MCA and trading accounts through cryptocurrencies.
Immersing Deeper Into Cryptos
The news comes shortly after it announced that it will be launching its own ICO projects, and has already filed the necessary application with the Swiss Financial Market Supervisory Authority (FINMA).
The announcement, made late in September, was purposed by Dukascopy Bank to solicit helpful insights from the professional community, including even the critics to improve the concept and to eliminate foreseeable mistakes in the strategy. Furthermore, it aims to attract the attention of experts in crypto smart contracts so as to establish “cooperation” in the pursuance of the said endeavor.
Dukascopy Bank, which was founded in 1998, has already received numerous awards, including the Best Forex Bank at the Shenzhen Forex Expo in China, and Best Mobile Trading and Best Platform & Tools by ForexBrokers.com. These are all the awards that it has received so far in 2018 alone.
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