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Wondering if there is a catch to it.
Dukascopy Bank has decided to lower the minimum deposit required for Individual Trading Accounts. An initial deposit of USD 1'000 is now available for all traders!
Since the introduction of video-identification in 2016, the account opening process can be concluded fully online. This video-identification revolution along with offering retail banking to a broader audience worldwide allowed Dukascopy Bank to lower the cost of account opening both on the clients' and the bank's side.
These lower costs resulted in easier access to the SWFX Swiss FX Marketplace via Dukascopy Bank, and led to this decision of lowering the initial deposit for all traders.
Dukascopy Bank opens trading accounts in 23 currencies and in Gold (USD, CHF, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, RUB, CNH, SEK, SGD, TRY, XAU and ZAR). Clients can fund their accounts by payment cards (Visa, MasterCard, Visa Electron, Maestro), wire transfers (including cheap and fast SEPA transfers in EUR), and via bank guarantees.
Please note that Dukascopy Bank current accounts can be opened without a minimum initial amount restriction. Current account clients can execute payments, order credit cards, exchange currencies and perform investments in different assets including crypto currencies.