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Dukascopy reduces leverage on Hong Kong CFDs



Swiss-based retail FX and CFDs broker Dukascopy Bank announced it has decided to reduce leverage on CFD of the Hong Kong index HKG.IDX/HKD to the level of 1:10.

The reduced leverage will become effective on Monday 29 June 2020.

The reduction follows the increase in the geopolitical tensions around Hong-Kong. Earlier in May Beijing announced its plans for a new security law in response to massive pro-democracy protests that have gripped the city over the past year. After the announcement, Hong Kong-listed stocks plunged. China’s new security law caused outrage in the US, however, recently the markets have started to recover after President Trump said that the US-China trade deal is still intact.

Dukascopy reduces leverage on Hong Kong CFDs

Dukascopy Bank announced earlier this month the expansion of its arsenal of funding methods available to clients with the addition of Ether (ETH). The addition is the second 2nd crypto-currency after the bank launched Bitcoin (BTC) in October 2018. The cryptocurrencies can be used to deposit and withdraw funds from a trading account opened as “crypto-fundable”.

The Swiss Forex bank started growing its crypto eco-system in January by adding new services. Dukascopy developed and expanded its arsenal of cryptocurrency instruments with the addition of CFD on Litecoin to US Dollar with leverage of 1:3.

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Dukascopy reduces leverage on Hong Kong CFDs

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