COUNTERPARTY FILE · last re-checked 2026-09
Dukascopy Bank (institutional / white-label liquidity) — institutional liquidity provider
Dukascopy Bank's disclosures indicate certain unverified aspects of its operations.
Licence, read literally
| Regulator | Licence number | Jurisdiction | Tier | Source |
|---|---|---|---|---|
| FINMA | not verified | Switzerland | tier-1 | open source ↗ |
Tier classification follows the same scale as the retail register: tier-2 means real supervision and client-money segregation, without an investor compensation scheme — never misread it as tier-1 protection.
Residuals a counterparty carries
Unpublished FINMA licence number
Dukascopy Bank's FINMA licence number is not published on its own pages.
Source: firm disclosures page
Lack of named data centres
No named data centres are published on Dukascopy's fetched pages.
Source: firm disclosures page
The claims ledger
Claims specific enough to be falsified — and the ones that remain the venue's own measurement.
Testable claims
- Founded on 2 November 2004 in Geneva by Andre and Veronika Duka, who still own 99% of the company (own company page)
- Regulated by FINMA both as a bank and as a securities firm; statutory auditor KPMG (own pages)
- Under the Swiss Financial Market Infrastructure Act Dukascopy Bank is qualified as a bilateral Organised Trading Facility (OTF) (own transparency page)
- White Label programme targets banks and regulated financial institutions; spot margin trading in G10 pairs incl. spot gold; minimum turnover requirement of USD 2 billion within the first two years
Claims we cannot verify from outside
- SWFX 'connected through FIX API to over 20 major banks' — the LP count is the firm's own measurement
- 'One of the world's largest liquidity aggregators' is the firm's own characterisation
- One transparent price feed / true historical tick data claims are the firm's own service descriptions
Perimeter and coverage
| Asset classes | Venues | Connectivity | Clients accepted | Explicitly refused |
|---|---|---|---|---|
| FX spot (G10 + spot gold), Bullion, CFDs, Binaries, Crypto exchange & fiduciary custody (FINMA-authorised) | FIX API, JForex, MT4/MT5 bridge, Web/Java platforms | Banks and regulated financial institutions (white label), Brokerage firms, Hedge funds and other institutions, Corporate/institutional accounts: regulated brokers, e-money companies, other PSPs |
A firm that publishes its own negative space — who it refuses, where it is not licensed — is materially easier to diligence than one that doesn't. The refusal list is treated here as disclosure, not as a defect.