Dukascopy managed to run through the challenging financial markets in 2022. The broker achieved an annual profit above 200 percent.
Dukascopy gained a high profit of 207% to CHF 6.4 million in 2022, up from CHF 2.1 million in 2021. The figure was its second-highest profit of all time, after its 2020 profit of CHF 10.4 million. The Swiss-based forex retail broker expressed their pride in their annual report statement.
"We would like to express also our gratitude and congratulations to the Dukascopy group shareholders, executive management, employees, and partners for their excellent work, support and loyalty in 2022," said the board of Dukascopy's Board of Directors.
The year 2022 was challenging, as the market found some obstacles, such as Russia-Ukraine War, high inflation, and rising interest rates. The surge in profit even as the Swiss brokerage's operating expenses declined marginally by -4% year-over-year to CHF 19.6 million. The record of 2022 was an important milestone.
"Despite all complexities and challenges of the financial year 2022, the Bank's profit is 200% higher than the profit for 2021," said Dukascopy.
However, the report was not fully increment. The brokerage's operating expenses declined marginally by -4% year-over-year to CHF 19.6 million. Total client deposits increased by 4% to CHF 131.3 million, up from CHF 125.9 million last year.
"The conservative asset allocation and liquidity management policies allowed the Bank to successfully traverse a year of extremely high market turbulence and instability, and to await with confidence and optimism further development of the Bank's business in 2023," Veronika and Andrey Duka, Dukascopy's Co-CEOs explained.
While other firms came out with the decline of forex trading services last year, Dukascopy still sees the neche from it. Dukascopy makes some expansions and innovations to its trading platform. The broker added indices and stock CFDs on United States and Mexican Companies.