What Dukascopy Bank does

Dukascopy Bank SA is a privately held, FINMA-regulated Swiss bank and online forex broker founded in 1998 and headquartered in Geneva, with additional offices in Hong Kong, Riga, and Tokyo. The company operates the SWFX (Swiss FX Marketplace), a proprietary ECN-style trading infrastructure that aggregates liquidity from multiple providers and supports transparent execution with spreads starting from 0.1 pips. Its trading surface spans the proprietary JForex 4 platform (desktop, web, mobile), MetaTrader 4 and 5, a dedicated binary options platform, and a newly launched Stock Trading Platform offering 25,000+ CFDs on stocks and ETFs across 20 markets (with stated plans to expand to 87). Automated trading is enabled through the Java-based JForex API and the FIX API for institutional clients.

The bank's retail offering extends beyond trading into integrated banking: a Multi-Currency Account supports 22 currencies plus gold with CHF 100,000 deposit protection, IBAN, SWIFT/SEPA/SIX payments, and card issuance, all unified in a flagship mobile app launched in June 2026 for a 400,000+ user base. Dukascopy also issues Dukascoin (DUK+), an Ethereum ERC-20 token launched in February 2019 as the first cryptocurrency issued by a regulated Swiss bank, with staking programs and an internal marketplace.

Revenue is generated primarily through transaction-based mechanics — spreads, commissions, swap/overnight fees, binary options payouts, and Dukascoin-related services — complemented by subscription and fee income from banking services, volume-based cashback programs, and white-label/B2B partnerships. Go-to-market is product-led: self-serve onboarding via video identification, demo accounts, and a 15+ language localized website drive retail acquisition, while PAMM/LP-PAMM supports money managers and a White Label Program addresses institutional partners. The company is led by co-CEOs Dr. Andre Duka (also CTO) and Veronika Duka (also CIO), with no parent company, private equity, or venture capital backing disclosed.

Name

Dukascopy Bank

Legal name

Dukascopy Bank SA

Website

https://dukascopy.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

251–500 employees

Short description

Dukascopy Bank is a FINMA-regulated Swiss bank and ECN forex broker offering trading across forex, CFDs, binaries, stocks, and crypto through JForex, MetaTrader, and banking services for 400,000+ global retail and professional clients.

Ownership category

akta.pro rank

Product category

Online Forex Brokerage and Digital Banking

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Depository Credit Intermediation (5221), Credit Card Issuing (52221)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211), Finance Services (6199)

akta.pro primary industry

Centralized Crypto Exchanges (CEX) (FSAPADAA)

akta.pro secondary industries

Centralized Crypto Lending Platforms (CeFi) (FSADAFAA), Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG), Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE)

Keywords

• Online forex brokerage
• ECN trading platform
• Multi-currency banking
• Cryptocurrency trading
• CFD trading services

Headquarters

HQ city

Geneva

HQ country

Switzerland

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Forex/CFD Trading Commissions and Spreads: Primary revenue stream from the spread between bid and ask prices on forex, CFD, and other trading instruments. Spreads start from 0.1 pips. Commissions vary by account type (ECN, standard) and trading volume.
2. Overnight/Swap Fees: Rollover fees charged for positions held overnight. Rates vary based on instrument, position direction (long/short), and account type (regular, premium, advanced rollover policy).
3. Banking Services: Revenue from multi-currency accounts including transfer fees, card issuance and maintenance fees, currency exchange margins, and account management fees.
4. Binary Options Trading: Revenue from binary options trading with payouts up to 90%. Profit derived from the spread between implied probability and actual payout percentages.
5. Dukascoin Services: Revenue from Dukascoin token services including marketplace transactions, staking programs (Coin Reward, EUR Reward, Fat Catz programs), and trading collateral management.
6. Premium Services and Programs: High Volume Cashback program refunding commissions for active traders; Equity Bonus program; Discount programs for volume traders; Wealth management (LP PAMM) fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Dukascopy Bank operates a Swiss ECN forex marketplace (SWFX) and integrated digital bank offering forex, CFD, binary options, and cryptocurrency trading via the proprietary JForex platform alongside MetaTrader 4/5, plus multi-currency retail banking accounts, payment cards, and a proprietary bank-issued cryptocurrency (Dukascoin).

Product overview

Dukascopy Bank is a Swiss ECN forex broker and digital bank offering a platform-plus-modules architecture centered on its proprietary JForex trading system. The core offering includes the JForex platform (with Java API for automated trading), complemented by MetaTrader 4 and 5 integrations, a dedicated Binary Options Platform, and a newly launched Stock Trading Platform (June 2026) for 25,000+ CFDs. Banking services are unified in the flagship Dukascopy Bank App (replacing legacy apps in June 2026), featuring Multi-Currency Accounts in 22 currencies, credit cards, and investment management. The bank operates its own cryptocurrency (Dukascoin/DUK+) and recently launched AI-powered trading via MCP integration with ChatGPT and Claude. Supplementary tools include Forex Calculators, Economic Calendar, and Currency Converter widgets. The bank also offers FIX API for institutional trading and white-label programs for B2B partners.

Differentiator

Problem solved

Functional benefit

Brands

• JForex: Proprietary trading platform developed by Dukascopy for forex and CFD trading
• SWFX
• Dukascoin (DUK+)
• Swiss Forex App

Products and services

• JForex Trading Platform Proprietary multi-asset trading platform (desktop, web, mobile) developed by Dukascopy for forex, CFD, and binary options trading, with advanced charting, automated strategy support via Java API, and direct access to the SWFX Swiss FX Marketplace ECN.
• MetaTrader 4 (MT4) Third-party MetaTrader 4 trading platform offered by Dukascopy for retail and professional forex traders familiar with the MetaQuotes interface.
• MetaTrader 5 (MT5) Third-party MetaTrader 5 trading platform expanded in February 2026 to offer 400+ trading instruments including precious metals, extended Forex crosses, and Crypto CFDs.
• Binary Options Platform Dedicated Dukascopy platform for binary options trading with payouts up to 90%, available via desktop browser and mobile apps.
• Stock Trading Platform Dedicated Dukascopy platform launched June 2026 for trading 25,000+ CFDs on stocks and ETFs from 20 countries (with plans to expand to 87). Features long-only positions without leverage, no automated strategies, and funding through JForex sub-account.
• Dukascopy Bank App Flagship mobile banking application launched June 2026, replacing legacy Connect 911 and Swiss Mobile Bank apps. Unifies banking, payments, cards, foreign exchange, investments, and 24/7 multilingual support in a single mobile experience.
• Multi-Currency Account (MCA) Swiss retail banking account supporting 22 currencies and gold with CHF 100,000 deposit protection, featuring instant online video identification, SWIFT/SEPA/SIX transfers, card payments, and unleveraged investments.
• Dukascoin (DUK+) First cryptocurrency issued by a regulated Swiss bank (February 28, 2019), built on Ethereum ERC-20 standard. Offers staking rewards in coins or EUR, internal marketplace, and can be used as trading collateral.
• JForex API Java-based API for algorithmic trading on the JForex platform, enabling automated trading strategies, custom indicator development, and programmatic access to trading operations.
• FIX API Financial Information Exchange protocol API providing institutional-grade, low-latency trading connectivity with minimum conditions for account setup.
• AI Trading via MCP AI-powered trading integration via Model Context Protocol enabling natural language interaction with JForex accounts through ChatGPT and Claude for trade execution, position management, market analysis, and risk monitoring.

Quantifiable outcome

• Spreads from 0.1 pips available on major forex pairs
• +3 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability3 records

Feature7 records

Partnerships

Two partnerships are on record, tiered minor.

• Money Expo MexicominorGTM or Marketing PartnerDukascopy participated as exhibitor at Money Expo Mexico 2026 (February 18-19, 2026) in Mexico City at Booth No. 38. The company showcased trading solutions, platform capabilities, and tools designed to support informed decision-making in global markets. Dukascopy received the 'Best Fintech Forex Broker 2026' award at this event.
• White Label PartnersminorChannel Partner/ Reseller/ DistributorDukascopy offers a White Label Program allowing financial institutions and brokers to offer Dukascopy's trading infrastructure under their own brand. The program includes access to JForex platform, liquidity provision, and regulatory framework.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Plus500: Listed global CFD broker focused on retail derivatives with proprietary platform and broad instrument coverage. Comparable on CFD product breadth and retail self-serve onboarding.
• Saxo Bank: Danish-regulated bank offering multi-asset trading plus integrated banking services for retail and institutional clients. Comparable on bank + trading integrated model and multi-currency account offerings.
• Swissquote: Swiss FINMA-regulated bank offering forex, CFD, and multi-asset trading alongside multi-currency banking. The most direct comp given overlapping Swiss-regulated banking + trading model and similar retail/institutional segmentation.
• Interactive Brokers: Global multi-asset broker with proprietary platform, JForex/FIX-grade API infrastructure, white-label and institutional B2B services. Comparable on technology stack and global multi-asset trading breadth.
• IG Group: Largest global retail forex/CFD broker with proprietary trading platform, API connectivity, and B2B/white-label offerings. Comparable on retail FX/CFD focus, platform strategy, and bonus/cashback programmes.
• Pepperstone: ECN-style forex/CFD broker offering MT4/MT5 and proprietary platforms with tight spreads from 0.0 pips. Comparable on ECN execution model, MT4/MT5 distribution, and competitive spread positioning.
• eToro: Global retail trading platform with multi-asset coverage, social/copy trading, and proprietary platform. Comparable on retail self-serve onboarding, multi-asset coverage, and copy/social trading features.
• OANDA: Established retail forex broker with proprietary platform, MT4/MT5 offering, FX/CFD products, and API services. Comparable on ECN execution, multi-platform distribution, and algorithmic trading API.
• XM Group: Global retail forex/CFD broker with MT4/MT5 distribution, bonus programmes, and multilingual onboarding. Comparable on retail FX/CFD focus, mass-market marketing, and bonus-driven client acquisition.

Emerging players

• Revolut: Digital banking and trading app with multi-currency accounts, FX, and increasingly crypto/stocks services. Comparable on integrated banking + multi-currency + trading on a single mobile-first platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/dukascopybanksa

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dukascopy Bank