Dukascopy broadens CFD offering with Italian stocks

Switzerland’s forex bank and broker, Dukascopy has just expanded its offering to include Italian stocks and the Italy 40 Index. The new additions allow clients to access a broader range of investment opportunities in the Italian market.

Dukascopy broadens CFD offering with Italian stocks

The new offering includes stocks of major Italian companies such as Enel Spa, Ferrari NV, Assicurazioni Generali Spa, Fiat Chrysler Auto NV, Intesa Sanpaolo Spa, and UniCredit Spa.

The Italy 40 Index, which represents the top 40 companies listed on the Borsa Italiana, is also available to Dukascopy clients. This index offers an overview of the Italian stock market, encompassing various sectors including banking, finance, fashion, and automotive.

Dukascopy told its clients to consider the Italian Financial Transaction Tax (IFTT) applicable to derivatives based on Italian shares and indices. This tax is a key factor for those trading in Italian assets and should be integrated into their trading strategies.

In a blog on its website, Dukascopy noted that the new offering was the result of a pent up interest in the trading of contracts-for-differences (CFD). Indeed, many other brokers have recently opted to diversify into multi-asset trading, namely expanding their CFDs portfolio.

The broker further states that the new release is primarily focused on servicing the existing trading needs of their client base. Traders, both new to the platform as well as those longer-tenured have both expressed a desire to trade from a multi-asset, single-margin account.

The decision to broaden its offering into CFDs should yield immediate benefits for Dukascopy, especially given the affinity of the instrument by clients and the maturation of the CFD market across the industry.

During the last six years, the Switzerland’s forex bank and broker substantially invested in diversifying its range of products. Besides its traditional core business, the trading activity, Dukascopy has developed issuance, custody and exchange infrastructure for cryptocurrencies as well as retail mobile banking services including instant payments and card operations.

The bank and securities houses of Dukascopy Group are regulated in Switzerland, Latvia and Japan. The group offers multi-products (FX, bullion, CFD, binary options), desktop and mobile trading platforms together with a range of other financial services. This includes current accounts, guarantees, classical banking payments, instant payments via smartphones, and payment cards.



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