Dukascopy

All three client-facing companies were confirmed on their regulators’ own lists: Dukascopy Bank SA on FINMA’s list of authorised banks, Dukascopy Europe IBS AS on Latvijas Banka’s register and Dukascopy Japan K.K. on the Japanese Financial Services Agency’s register. Clients outside the EU and Japan are served by the Swiss bank.

• StrengthDukascopy Bank SA appears on FINMA’s list of authorised banks and securities firms (10 October 2026) as a bank in category 5, and states that FINMA regulates it both as a bank and as a securities firm.
• StrengthDukascopy Europe IBS AS holds a Latvian licence for investment and ancillary investment services valid from 24 November 1997 (licence 06.06.08.112/316.1), supervised by Latvijas Banka.
• StrengthDukascopy Japan K.K. is registered as a Type I financial instruments business operator with the Kanto Local Finance Bureau (No. 2408), with a registration date of 8 June 2010, and states that it is a member of the Financial Futures Association of Japan.

The group is privately held. Dukascopy Bank publishes annual reports with financial statements audited by KPMG, including the group accounts, and names its owners: Dr. Andrey Duka and Veronika Duka hold 49.5% each. The 2025 report discloses a dispute between the shareholders over the ownership of the shares.

• StrengthDukascopy Bank’s annual report for 2025, audited by KPMG AG with a report dated 9 April 2026, lists Dr. Andrey Duka and Veronika Duka as significant shareholders with 49.5% of equity each, and shows that the bank owns 100% of Dukascopy Europe IBS AS and Dukascopy Japan K.K. Annual reports are published back to 2010.
• LowThe 2025 accounts state that a dispute has arisen between the shareholders of the bank, relating in particular to the ownership of the shares and to a financial claim brought by one shareholder against the bank over the use of a communication software. The bank considers the claim unfounded and made no provision. The dispute is not mentioned in the 2024 report.

Each client-facing company is covered by a protection scheme: Swiss deposit insurance through esisuisse up to CHF 100,000, the Latvian investor compensation scheme up to EUR 20,000 with segregated client funds, and full trust preservation of client funds in Japan. The risk warning of the Swiss bank, which serves clients outside the EU and Japan, states that some of its retail clients had to deposit funds to offset a negative balance.

• StrengthDukascopy states that deposits at Dukascopy Bank are covered by Swiss deposit insurance up to CHF 100,000 per client, and that Dukascopy Europe holds client funds separately from its own funds and its clients may be entitled to compensation of up to EUR 20,000 under the Latvian investor protection law.
• StrengthDukascopy Japan states that client funds are fully protected by trust preservation.
• MediumDukascopy Bank’s risk warning states that 0.21% of retail client accounts had to deposit funds to offset a negative balance, so retail clients of the Swiss bank can lose more than their deposit. Balances held with the bank are bank deposits, protected up to the deposit insurance limit, rather than segregated client money.

Not assessed in a desk audit. Spreads, slippage and fill quality can only be measured with live accounts.

No public enforcement action against a Dukascopy company was found in the last eight years in the sources we searched, including the Japanese checks for the group’s Tokyo subsidiary.

• ObservationNo item naming Dukascopy was found in Latvijas Banka’s sanctions register, the Financial Futures Association of Japan’s disciplinary list, the Securities and Exchange Surveillance Commission’s recommendations from 2018 to 2026, the Ontario Capital Markets Tribunal or the Brazilian CVM’s sanctions case data and site.
• ObservationFINMA publishes most enforcement outcomes without naming the institution, so the absence of a named FINMA action is not conclusive.

Not assessed in a desk audit. Uptime, incident history and security controls require evidence from the firm or live monitoring.

No Great Place to Work certification and no community programme were found in public sources.

• ObservationNo Great Place to Work certification or community programme was found on Dukascopy’s websites or in public sources.