FNG Exclusive… Following a pattern we are seeing repeat itself across a number of leading Retail FX and CFD brokers worldwide, FNG has learned that Geneva, Switzerland based Dukascopy has had a fantastic first half of 2020 – although most of the “fantastic” took place in the first quarter of the year.

Dukascopy’s Q1 results were indeed so positive that the company took the unusual step of publishing its Q1 results – privately held Dukascopy had traditionally only released semi annual figures. Q1-2020 Revenues at Dukascopy came in at CHF 16.6 million (USD $17.1 million), more than triple the CHF 5.5 million Dukascopy brought in during Q1-2019.

Q2 was quite a different story, with Revenues amounting to CHF 8.8 million (USD $9.7 million) at Dukascopy, just over half of Q1 levels (technically, down 47%).

But still overall, when looking at the full six months, Dukascopy management and its shareholders much be pleased. Half year total Revenues of CHF 25.4 million were nearly double both H1 and H2 of 2019. Total profit of CHF 12.5 million (CHF 9.5 million of which was earned in Q1) is a lot better than any period in the previous two years, when Dukascopy was basically hovering at around break-even.

Interestingly, despite the rise in revenues from 2019 levels – which means a big rise in client trading activity – client assets held at Dukascopy was basically unchanged from year-end 2019 (actually down a drop), coming in at CHF 84.5 million as at June 30, 2020, as compared to CHF 86.2 million as year end 2019.

Dukascopy’s first half 2020 income statement and balance sheet follow: