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 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 bank and broker, and according 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,  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  for Dukascash tokens, whilst it will accept Dukascash tokens from its clients, as a payment for its services, at the exchange rate of 1:1 to the fiat base currency.