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Swiss forex bank Dukascopy Bank and its Latvian unit Dukascopy Europe have introduced trading in contracts for difference (CFDs) on single stocks on Demo accounts. Such instruments are available only on Demo and Self-Trading accounts, but live trading is scheduled to be launched in the near future.
The offering includes share CFDs from the US and 13 markets in Europe, including Germany, the UK, France, and Switzerland. The list of share CFDs will be gradually expanded to include shares from all major stock markets around the world, the bank noted.
Demo accounts are used for practicing trading. Unlike live accounts, demo accounts do not operate with real money and investors can learn to trade without risking their funds. They are suitable for traders without much experience who want to get used to trading without risking real money, as well as for traders who want to try out a new trading strategies.
Traders can test trade via a Demo account with Dukascopy Bank for a period of 14 dаys. Its account balance can range from 1,000 to 1.0 million currency units in one of 18 base currencies. The broker offers a combined Demo account for forex and contracts for difference (CFDs) trading and a separate one for binary option instruments.
Dukascopy Bank is licensed as a bank and as a securities dealer by Switzerland’s Financial Market Supervisory Authority (FINMA). It was set up in 2004 and is based in Switzerland’s Geneva, but also operates globally through offices in Zurich, Riga, Kiev, Moscow, Kuala Lumpur and Hong Kong.
The company owns 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. Dukascopy Europe was acquired by Dukascopy Bank in May 2011.