Dukascopy Bank Denies Any Ties to Unitrade Enterprises

Dukascopy Bank today warned against a company called ‘Unitrade Enterprises Limited,’ which has been falsely claiming affiliation with its ‎authorized brand.‎

Unitrade Enterprises operates a shady business that spans different sectors ranging from asset management to cryptocurrency trading. According to its website, it was established in 2003 and employs over 200 personnel while enjoys a company capitalization of $65 million.

What made the Geneva-based broker deeply outraged was a statement on Unitrade Enterprises’s website saying that all their clients' transactions are made through Dukascopy Bank.

Dukascopy confirmed that it has no association whatsoever with ‎the aforementioned website and advised everyone to avoid it entirely.‎

“UNITRADE ENTERPRISES is fraudulently using Dukascopy's name for attracting clients/investors, without Dukascopy Bank's permission. We are taking action against this dishonest organisation. We ask for extreme caution toward such an organization basing its promotion on a lie," it said.

Dukascopy added that the UNITRADE brand is indeed attempting to mislead investors into ‎thinking that it is offering ‎a ‎‎legal product by claiming the involvement of an authorized firm.‎ However, investors should be aware that the original company is not available to help in recovering funds if Unitrade Enterprises entity scammed them.

Dukascopy is an established Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term bank and broker, and according to its latest financial metrics, the operating revenue in the second half of 2019 was $14.23 million (CHF 13.98 million) – this figure is almost unchanged from CHF 13.99 million reported back in the same period a year ago.

On the crypto front, Dukascopy has been taking steps towards strengthening its budding offering, including allowing clients to deposit and withdraw funds in digital coins, as well as enabling free internal crypto-transfers between users of mobile banking. Dukascopy also offers custody service for Dukascash tokens, whilst it will accept Dukascash tokens from its clients, as a payment for its services, at the Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term rate of 1:1 to the fiat base currency.