Unique: Dukascopy sees Revenues dip 22% in 1H 2023 to lowest degree in 10+ years

FNG Unique… FNG has realized through regulatory filings made in Switzerland that Geneva and Riga based mostly Retail FX and CFDs dealer Dukascopy simply noticed (semi-annual) Revenues dip beneath the CHF 10 million mark for the primary time in additional than 10 years.

Dukascopy’s consolidated Income got here in at CHF 9.6 million (USD $10.9 million) for the primary six months of 2023, down 22% from the earlier six month interval (CHF 12.4 million in July-December 2022), and down 33% from what the dealer posted within the corresponding first half of 2022 (CHF 14.4 million).

By comparability, Dukascopy’s (a lot bigger) Switzerland based mostly rival Swissquote simply posted file best-ever Revenues, and near-record revenue, for a similar January-to-June 2023 interval.

Regardless of the steep decline in Revenues, Dukascopy nonetheless managed to function above breakeven, posting a Web Revenue of CHF 889K (USD $1.0 million), versus revenue CHF 2.8 million within the second half of 2022 and CHF 3.9 million within the first six months of 2022.

Buyer deposits at Dukascopy fell barely to CHF 130.0 million at June 30, 2023, down from CHF 132.1 million at year-end 2022.

Firms inside Dukascopy Group are regulated in Switzerland, Latvia and Japan. The Latvian entity, Dukascopy Europe has a license to function within the European Union. Based in 2004, Dukascopy is managed by its founders Andre and Veronika Duka, who function co-CEOs of the corporate.