Dislikedhello are the ducascopy broker have metatrader 4 platform? how much initial deposit we can start to trading at ducascopy broker?Ignored
DislikedOanda/IB/FXCM/Alpari and many other US based forex brokers report to governments all over the world via US IRS under numerous tax treaties.
I'd rather be dumb and sit on millions of dollars, rather than be smart paying taxes and poorer.
I have obtained information that the aggregate value of Dukascopy's USD account with JPMorgan in NY, either during intra days or end of days, is a huge proportion of the entire capital of Dukascopy.
If JPMorgan collapses, Dukascopy will be in great difficulty.
With regards to JPMorgan's London Whale trade, some bank analysts have pointed out that it only takes 2% decline in JPMorgan's total assets to completely bankrupt the bank. Given what's happening in Europe and JPMorgan's derivative exposure, it is not...Ignored
DislikedAgreed. Fuck those guys. It's our money. Do they pay us taxes if we lose money in trading? No they just take it when we win. If somebody wants some trading profits, they can TRADE FOR THEMSELVES, it's very easy to get an account. As for the poor etc, I'll help them myself. No need for the government to play god.Ignored
On 31 July 2012, the account of Dukascopy Bank with JPMorgan amounted to CHF 4.5 million which represented 16% of Dukascopy Bank’s capital or 3.7% of its total cash. We let you judging whether this percentage is a huge proportion or not.
When analysing the creditworthiness of a bank you shall keep in mind the following elements.
It is usual that banks have a small capital in comparison with their total assets. [font=Arial]At Dukascopy Bank, capital represents 21% of...Ignored
The shareholders’ equity of a bank usually counts more than a share capital. Concerning Dukascopy Bank SA, to the CHF 22 million share capital, you shall add the retained earnings, the general legal reserve and the profit for the current year which totalised CHF 5’670’380 on 31 July 2012.
As far as the Swiss National Bank (SNB) is concerned, it is worth mentioning that it is ruled by a special law (the Swiss National Bank Act) and that it belongs in majority to Swiss public entities. Therefore it shall not be considered as a usual private company.
Furthermore, more recent figures show that SNB completed the financial year 2011 with a profit of CHF 13 billion. We are not aware of any S&P rating for the SNB, at the time being. Whatever, you will agree that assessing the SNB’s creditworthiness means assessing the creditworthiness of the Swiss Confederation. According to our information, the S&P Long Term Issuer Credit Rating of the Swiss Confederation still is AAA with a stable outlook.
If we are correct, the Swiss Confederation has shown financial surplus in 2010 and 2011 for respectively CHF 4.2 billion and CHF 2.2 billion what is remarkable considering the current world economic situation that you mentioned. Switzerland keeps on distinguishing itself by its outstanding political, economical and financial stability. This makes Switzerland a safe place for your money.
We thank you for your trust and interest in Dukascopy Bank SA.
Dukascopy Bank SA
The shareholders’ equity of a bank usually counts more than a share capital. Concerning Dukascopy Bank SA, to the CHF 22 million share capital, you shall add the retained earnings, the general legal reserve and the profit for the current year which totalised CHF 5’670’380 on 31 July 2012.Ignored
1. You are welcome to contact Dukascopy Bank SA directly in order to get the desired financial statements 2011. As required by law, Dukascopy Bank SA has published its interim figures at 30 June 2012 in the Feuille Officielle Suisse du Commerce, they are available online at https://www.shab.ch/shabforms/COMMON...archresult.jsf (notice number 6811180).
1. Yes, our financial year equals calendar year. However, as per Swiss law, the interim income statement was compared with the first semester of the previous year.Ignored
Disliked2. It is the underlying amount of all trading positions (currencies and precious metals) opened at the settlement time of the balance sheet date.Ignored
Disliked3. On 30 June 2012 intangible assets amounted to CHF 2 million. It is correct that increases of share capital had been contributed in kind through software (intangible asset). This software has been depreciated over the years according to the depreciation plan and now only counts for CHF 2 million. Through depreciation, intangible asset has progressively been replaced by cash collected from Dukascopy Bank’s income. Consequently, in the end, capital increases are fully covered by cash.Ignored
Disliked4. No, at the time being Dukascopy Bank has no obligation to publish a cash flow statement. However as you may see, Dukascopy Bank’s assets are extremely liquid with no investment such as securities in the balance sheet.Ignored
DislikedDukascopy has done a remarkable job at growing assets from its clients by 33% within 6 months. Let’s not encourage them to grow their sales
IMHO, cash flow analysis is more suitable for non-bank business. Since banks’ balance sheets are pretty liquid and can change quite rapidly, more attention is given to this aspect. Banks will always be able to fund its operation/debts regardless using its own money or clients’ money, and it is difficult to tell from cash flow statement.
One comforting aspect about Dukascopy's...Ignored
DislikedI remember reading somewhere here on ForecFactory that they started up with eastern European money. So I guess they are a eastern European broker with its headquarters in Switzerland. That explains why the swiss call them "foreign".Ignored
It is interesting though to note that as much as Dukascopy wishes to label itself as Swiss, SNB considers it “foreign-controlled bank”, and not Swiss enough like UBS, Crédit Suisse, Julius Bär, Vontobel or Clariden Leu.