Dukascopy Japan Receives License To Offer Commodity CFDs
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Dukascopy Japan is introducing commodity CFD trading after Japan’s Ministry of Agriculture and Ministry of Economy, Trade, and Economy gave their approval.
The approval means that the firm is now licensed to provide CFDs, including precious metals, gas, and oil.
The new license will allow Dukascopy Japan to offer a wide range of CFDs to its clients. This will be in addition to the forex trading services the firm usually offers. According to the announcement, the new instruments can be accessed via both DEMO and LIVE forex accounts. The firm’s Japanese-based clients now have more options when it comes to choosing the right platform for customers’ needs.
Dukascopy Wants To Provide CFDs On Equities
With the help of the new license, Dukascopy Japan will be aiming to position itself as a main force in the market. It wants to reach more clientele and offer ease of access to products like precious metals, oil, and gas. The new features will enable the clientele to easily diversify their portfolios, enabling them to open the door to new opportunities.
Apart from the new upcoming CFDs offering, Dukascopy wants to gain more licenses to provide CFDs on equities in the future. It wants to use the opportunity to widen its product range, cementing its presence in the financial market in Japan.
Dukascopy is a subsidiary of the Dukascopy Bank. The company entered the Japanese FX market in 2015 and has been an integral part of the market since then.
The addition of the CFDs is coming following the firm’s financial results for the first half of the year, which shows a significant reduction in consolidated income.
Dukascopy Wants To Continue Expanding Its Offerings
According to the financial report, it dropped from the CHF 9.61 million it recorded last year to CHF 5.14 million, indicating a 46% reduction. The firm also recorded a drop in its net profit to CHF 80,815, showing a massive 81% decline from the results posted last year.
Dukascopy’s trading income also declined from CHF 9.23 million to CHF 4.88 million, indicating a 47% reduction. The firm’s financial result comes after a 33% annual reduction in trading income last year. While Dukascopy recorded a decline in profits for H1 2024, it has not stopped the firm from engaging in discussions for more expansion.
The company has made a 50% CashBack offer on volume commissions for FlowBank, which recently went into bankruptcy. Dukascopy’s products also include the Italian 40 Index and Italian stocks.
