Dukascopy Offers 50% CashBack to Flowbank's Clients

After FlowBank filed for bankruptcy recently, traders are looking for new alliances to go on with their financial operations. Quick to react, Dukascopy has made a strong offer reserved only for former FlowBank customers. To draw in and help traders impacted by FlowBank's demise, the Swiss financial institution is offering a 50% CashBack on volume commissions for the duration of the account.

FlowBank customers must create a Dukascopy account and inform their personal account manager of their eligibility in order to be eligible for this promotion. With this effort, Dukascopy demonstrates its dedication to improving its customers' trading experience by offering substantial cash incentives and guaranteeing a seamless transfer.

With JForex, MT4, and MT5 among its trading platforms, Dukascopy allows its customers to trade a wide range of assets. Currency, metals, commodities, stocks, indices, ETFs, bonds, and cryptocurrency are among these assets. The platforms meet a wide range of trading requirements and preferences and are well-known for their dependability and openness.

Furthermore, Swiss banking security regulations are very important to Dukascopy. Clients benefit from clear pricing plans and deposit protection up to CHF 100,000, which strengthens the bank's reputation for reliability and safety.

The offer is timely since the Swiss Financial Market Supervisory Authority (FINMA) has ordered FlowBank, an online brokerage and trading bank with its headquarters in Geneva, to close. With effect from June 13, 2024, FINMA terminated FlowBank's banking and securities dealer licenses, requiring an immediate stop to all business operations.

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Further Reading

Clients who made cash deposits in Swiss accounts after FlowBank closed are eligible for reimbursements of up to CHF 100,000 apiece. Subject to terms established by Walder Wyss SA, the appointed liquidator, customers will also get custodial assets like shares and bonds back. The dissolving procedure will be managed by the Geneva-based liquidator, who will also make sure that all financial operations are closely regulated.

Following FINMA's protracted investigation, which started in October 2021, FlowBank has closed. The regulating authority found grave infractions of supervisory regulations, especially with regard to risk management, organizational suitability, and capital needs. Even with a number of steps taken, such as the hiring of an independent auditor in 2022, FlowBank kept failing to meet capital ratio standards and showing operational flaws.

Customers and stakeholders should wait for additional instructions from Walder Wyss SA regarding reimbursements, asset transfers, and other contractual issues since all agreements between FlowBank and its customers have now been canceled. FlowBank customers looking for consistency and reliability in their trading activity will thus find great potential in Dukascopy's timely offer.