Swiss forex bank and broker, Dukascopy, has just expanded its offering to include 405 new CFDs on stocks such as Harley-Davidson, Spotify, Dell, Puma and others from the US, UK, Germany, France, Switzerland, the Netherlands and Spain.
In a blog post on his website, Dukascopy noted that the new offering was the result of a pent-up interest in trading contracts for differences (CFDs). This also brings the broker’s total number of stocks and ETfs to 1046. In fact, many other brokers have recently chosen to diversify into multi-asset trading, ie by expanding their CFD portfolio.
The broker also claims that the new version is primarily focused on meeting the existing trading needs of its client base. Traders, both new and old on the platform, have both expressed a desire to trade from a single margin multi-asset account.
The decision to expand its CFD offering should bring immediate benefits to Dukascopy, especially given the client’s affinity for the instrument and the maturing CFD market in the industry.
Often touted as cheaper and better than futures trading, ETF CFDs have also become one of the popular investment vehicles for retail traders. The asset class typically tracks a stock index and trades on a stock exchange to allow people to trade a basket of stocks in one go. It also creates the conditions for retail investors to trade the underlying asset with much better control of their risk margin exposure.
Over the past six years, the Swiss bank and forex broker has invested heavily in diversifying its product line. In addition to its traditional core business, the trading business, Dukascopy has developed cryptocurrency issuance, custody and exchange infrastructure, as well as retail mobile banking services, including instant payments and card transactions.
Meanwhile, Dukascopy has taken steps to strengthen its cryptocurrency offering, including allowing customers to deposit and withdraw funds in digital currencies, as well as allowing free internal crypto transfers between users of mobile banking services. In 2020 it became the first regulated bank to launch its own cryptocurrency: Dukascoin.
More recently, Dukascopy users gained access to ten new crypto tools, many of them in the area of decentralized finance (DeFi). Additionally, the FX broker has significantly improved its overnight rates.
The banks and securities firms of the Dukascopy Group are regulated in Switzerland, Latvia and Japan. The group offers multi-products (FX, bullion, CFD, binary options), desktop and mobile trading platforms, as well as a range of other financial services. This includes checking accounts, guarantees, traditional bank payments, instant payments via smartphone and payment cards.