Dukascopy Reports a Record Income and Profits in 2020

Switzerland based Retail FX brokerage group Dukascopy recently posted its annual financial results ending on December 31, 2020, indicating that income and profits hit a record high.

More specifically, over the 12-month period, Dukascopy recorded a total operating income of CHF 40.1 million, up 43.2% compared to a year ago. That figure in 2019 was CHF 28 million. The solid performance of the company delivered in 2020 was driven by the economic impact of the Covid-induced lockdown that led to extreme volatility in the market.

Total operating expenses reached CHF 21 million, down by 14% compared to CHF 24.4 million in the previous year. The company also registered a net profit of CHF 10.4 million, compared to the previous year’s CHF 2.2 million.

Additionally, Dukascopy Europe’s net profit for 2020 was CHF 78 thousand with a YoY decrease of 30.3% in operating expenses compared to 2019. At the same time, Dukascopy Japan’s net profit for 2020 was CHF 96 thousand. Operating expenses were decreased by 33.9% compared to the same period in 2019.

Considering its excellent financial results in 2020, Dukascopy plans to put aside and allocates CHF 4.0 million to create a “Reserve for General Banking Risks”, of which CHF 3.4 million will reinforce its capital base. 

As Fazzaco reported last month, Dukascopy decided to reduce the maximum exposure limit on USD/RUB and EUR/RUB instruments from 5 to 1 million of primary currency​. This change concerns all trading accounts.​