Switzerland-based retail foreign exchange broker Dukascopy Bank has extended its range of crypto products. Now for all self-trading accounts, the bank will provide CFDs for Ethereum, the world’s second largest cryptocurrency by market cap. Geneva’s Dukascopy Bank first presented crypto products at the start of 2018, making positive headlines through many crypto communities. Ethereum CFD testing started a few months ago after the bank received optimistic feedback from its bitcoin CFD product.
Moving forward, Dukascopy Bank will deliver leverage of 1:3 for ETH/USD CFDs. with new EU regulations, leverage greater than 1:2 is not allowable. However, Dukascopy Bank is able to offer 1:3 leverage for its ETH/USD CFDs as the chief branch of the bank is located outside of EU regulations in Switzerland. However, Dukascopy Bank’s European subsidiary, Dukascopy Europe, will have to fulfill with the original rules and will provide ETH/USD CFDs at 1:2 leverage.
Dukascopy will use its overnight rollover policy to crypto products CFD customers and the bank will even start different rollover rates to guarantee a higher trading turnover, leading to better overnight conditions for the users.
In addition to the Ethereum CFD news, as stated on Finance Magnates, Dukascopy Bank has also shared its plans to present a committed crypto entry. Customers will be able to deposit and deposit funds in digital currencies on or from their Dukascopy accounts. Customers will also enjoy free internal crypto-transfers between mobile banking users.
The bank plans to launch two coins of its own-Dukascoins and Dukasnotes, those will be used as a crypto products means of payment and will have a limited supply. Dukasnotes, in the meantime, will work as stablecoins. Besides, CFD, the company has also planning to open its doors for a new type of clients, who were not serviced before crypto brokers and crypto exchanges. As per Fintech News, the Bank has opened company accounts for personal MCA accounts for users of these companies. In this manner, any money transfer between the crypto company and its customer will remain inside the Bank’s secure network and under control of the Bank.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]