Dukascopy Bank, a Swiss forex brokerage, announced it is launching live trading in the Turkish Lira to Japanese Yen (TRY/JPY) and South African Rand to Japanese Yen (ZAR/JPY) forex pairs.
The expansion of the offering comes about ten days after the broker added those pairs to its demo instruments list, right during the Turkish lira volatility caused by the failed military coup when a number of brokers, including Dukascopy, increased the margin requirements for trading in TRY.
As per the Dukascopy announcement, the maximum leverage for live trading in TRY/JPY and ZAR/JPY is set to 1:10. It puts the new additions in the list of instruments with special margin requirements, together with pairs containing Danish krone, Russian ruble, Hong Kong dollar and Chinese Yuan. Otherwise, the standard maximum leverage for the more popular forex pairs offered by Dukascopy Bank is 1:100.
In the past several months the brokerage group has been actively expanding and tweaking its offering. Only last week, for example, Dukascopy announced it is teaming up with the Belorussian bank MTBank and launched a forex brokerage unit, MTBankFX.
Dukascopy Bank, set up in 2004, is based in Switzerland’s Geneva and operated globally through offices in Zurich, Riga, Kiev, Moscow, Kuala Lumpur and Hong Kong. It is licensed as a bank and as a securities dealer by Switzerland’s Financial Market Supervisory Authority (FINMA). The company owns 100% in brokerage Dukascopy Europe IBS , e-payments provider Dukascopy Payments, both based in Latvia, as well as Japanese broker Dukascopy Japan K.K., formerly Alpari Japan K.K.