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Swiss forex brokerage Dukascopy Bank reported record income of CHF 17.2 million in the first half of 2016, 1.6% above the previous in H1 2015.
Despite the record income, however, Dukascopy saw its operating expenses rise 15.2%, year-on-year. For this reason its H1 2016 net profit dropped 25.8% on an annual basis. Still, the brokerage had a “very satisfactory”profit of CHF 2.5 million.
Overall, at Group level, the consolidated total income rose 2.4% from H1 2015 to reach CHF 18.1 million. The losses of the new subsidiary Dukascopy Japan, which is still in launching phase, had a negative effect on the consolidated net profit of the entire group. Nevertheless, it is still in the black with a profit of CHF 1.9 million.
Moreover, Dukascopy notes, its Japanese subsidiary is showing promising growth and is expected to break even in 2017.
In the reporting period, Dukascopy Bank launched a new service – the electronic wallet Dukascopy Payment, extended the expiration period of its binary options to 24 hours and expanded its trading portfolio with CFDs on single German stocks.
In conclusion, the authors of the financial report stated that those figures reflect a very solid performance and continued stability in Dukascopy Bank and Dukascopy Group’s financial situation.
Indeed, it seems that the brokerage continues its positive development after a record 2015, in which it stayed profitable for a third year in a row.
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.