Dukascopy

Dukascopy is a Swiss brokerage forex house which was established primarily to serve the needs of institutional and other large-volume traders, offering both automated and anonymous trading options and one-click execution for even large orders.
About Dukascopy

Founded in 1998, Dukascopy offers direct access to the Swiss Foreign Exchange Marketplace, and offers the largest pool of spot forex liquidity for its clients. Drawing from an extensive network of banking partners, Dukascopy offers full Prime Broker capability and is committed to transparency and security in the forex industry.

Dukascopy’s corporate hierarchy includes a four-member executive committee that oversees four divisions: IT and Operations; Marketing and Sales; Logistics and HR; and Finance and Risk Management.
To keep things interesting and encourage transparency among its traders, Dukascopy also offers a “Trader of the Month” contest for its clients, awarding the trading account with the best performance a personal invitation to the company’s office in Geneva to receive a Swiss Luxury Watch valued at 15000 CHF. Past winners include ex-Presidents Bill Clinton (USA), Pascal Couchepin (Switzerland) and Vladimir Putin (Russia), and ex-UN Secretary Kofi Annan.

Minimum Deposit Amounts

Dukascopy (Suisse) SA offers Forex trading accounts both to individuals and to institutional clients. The company’s services are optimized for institutional trading, and recommended deposit size for these accounts is 50,000 USD and up. For individuals, minimum deposit amounts vary based on the type of account, and range from $5,000 for a retail account to $1M for a VIP account, which includes extras such as a personal VIP account manager and priority in both trading support and technical support features.

Currently, Dukascopy accounts support the following seven currencies: USD, CHF, EUR, GBP, JPY, CAD and AUD. Funding for accounts can be made through wire transfer, bank guarantees, and Swiss custodian banking services (segregated Swiss bank account). The minimum deposit for the Swiss custodian account is 250,000 USD.

Account Set-Up

Setting up an account is relatively simple using the company’s online form. Registration requirements vary for individual and legal entity accounts. Both require filling in the trading agreement form and the form to request an account opening, a certified or notarized copy of an ID or passport and a copy of a utility bill showing proof of residence. Legal entity accounts must also provide a full set of corporate documents and the corporate resolution authorizing the account to be opened. For both individual and legal entity accounts, all forms must be mailed to Dukascopy for review and approval. Once approved, an account number will be provided and an initial deposit of at least $5,000 USD or equivalent in other currencies must be made via wire transfer. Once the account is funded, login information and password will be provided.

Demo Accounts

Dukascopy offers a 14-day demo account that allows registrants to trade using the same functionalities and same data feed as are offered by the Live SWFX – Swiss FX Marketplace. The demo is free to use for a 14-day trial and requires filling out a simple, online form. Once registered, demo account users will have access to all of the same features as regular account traders, offering novices an ideal way to familiarize themselves with the account options. Dukascopy recommends use of its demo account for all prospective clients, especially individual accountholders.

Dealing Desk

There is no dealing desk execution at Dukascopy.

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Emerging Market Currencies in 2011

Emerging market assets/currencies registered some unbelievable gains in 2010 as the global economy emerged from recession and investor risk appetite picked up. In the last few months, however, emerging market currencies gave back some of their gains as the EU sovereign debt crisis flared up and the currency wars began to rage. Given that neither of these uncertainties is likely to be resolved anytime soon, 2011 could be a tumultuous year for emerging markets.

Let’s look at the numbers for emerging markets in 2010. The highlights for currencies were the Malaysian ringgit and Thai baht rose, both of which “rose around 10% against the dollar, to their strongest levels since the Asian financial crisis in the late 1990s. The South African rand was up 14% versus the dollar. It was a minor currency, however, that was the world’s best-performing: Mining-rich Mongolia’s togrog finished the year 15% higher against the dollar.” After being allowed to resume its appreciation, the Chinese Yuan rose by a modest 3.5%.

The J.P. Morgan Emerging Markets Bond Index Global returned a record 11.9% in 2010, to the extent that now trades at a modest 2.5% spread over US Treasury bonds. The standout was probably Argentina, whose sovereign debt returned a whopping 35% over the year. Switching to equities, the MSCI Emerging Markets Index returned 16.4%, handily beating the MSCI World Index, which itself rose by an impressive 9.6%. The individual top performing stock markets in 2010 unsurprisingly were “Frontier markets such as Sri Lanka (+96.0%), Bangladesh (+83.5%), Estonia (+72.6%), Ukraine (+70.2%), the Philippines (+56.7%) and Lithuania (+56.5%).” In total, an estimated $825 Billion in private capital flowed into emerging markets during the year, including $53 Billion into local currency bonds.

Emerging markets took advantage of the surge in investor interest to issue record amount of local currency debt and through a plethora of massive stock IPOs. Still, the intractable rise in currency and asset prices was generally seen as an undesirable trend, and emerging markets took significant steps to counter it. More than a dozen central banks have already intervened directly in currency markets in a bid to hold down their currencies. According to the IMF, “Emerging nations had accumulated $1.2 trillion in currency reserves between the financial crisis’s peak in early 2009 and the third quarter of 2010,” including ~$300 Billion in Asia ex-China. Some countries, such as Brazil – poured $1 Billion a week into forex markets during the height of their intervention campaigns.

Speaking of Brazil, it was also among the first to impose capital controls, in the form of a 6% tax on foreign bond investors. Thailand, South Korea, Taiwan and Indonesia have also imposed capital controls, while Mexico has tapped an IMF credit line, which it can use to “manage the stability of its external balances.” Moreover, these countries collectively won an important victory at the fall meeting of the G20, by receiving formal permission for all of these measures.

Alas, most of these inflows were probably justified by fundamentals, which means that they are more difficult to fight against than if they were merely the product of speculation. For example, “Developing countries expanded at a 7.1 per cent rate, compared with 2.7 per cent in advanced countries.” Moreover, emerging market stocks are trading at an average P/E multiple of 14.5, well below their recent historical average. This means that in spite of impressive performance in 2010, corporate profits are still rising faster than share prices. In addition, yields on emerging market sovereign debt still exceed the yields on comparable debt for western countries, despite being lower risk in some ways.

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Hari pertama mamat disekolah.. kalau org lain takut anak masing-masing nagis nak balik aku pulak risau yg si mamat ni buat sekolah tu mcm rumah sendiri.. Apa nak dikata mamat memang happy go lucky punya org itu kalau aku tak ada la.. hehehehe....

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Gile lama aku tak update blog buruk aku nih..
Tahun baru ni aku try update sebanyak mungkin
Berjayakah aku?!

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