Geneva-based Dukascopy Bank has (also) reported the opening of an office in Hong Kong, its first office outside Europe, as the march to target Asia-based clients continues for some of Europe’s leading Forex firms.
The news release from Dukascopy came on the same day that MIG BANK made a similar announcement about the opening of its Hong Kong office. (We believe that the timing was purely coincidence). Dukascopy and MIG BANK are two of only three Swiss-based online Forex brokerage firms (the other being Swissquote), and each seems to have a strategy of leveraging their cache of being licensed Swiss banks in attracting clients worldwide.
In recent months we’ve seen other leading firms such as Saxo Bank, FxPro and AvaFX open offices in Asia and Australia, also mainly to serve as a base for Asia-Pacific growth.
For more on the global FX market see the LeapRate Dow Jones Forex Industry Report.