Monex Slated to Terminate MT4 Service, All-in on tradable

Japanese FX stalwart Monex Group, has announced it will be terminating its service for the MT4 platform by the end of October, having shifted its focus and backing behind tradable’s platform.

Monex went live just over a month ago with tradable’s platform, as first explained to Forex Magnates by Toshihiko Katsuya, President at Monex FX.

Monex has faced large headwinds given the waning volatility and outright stagnation of the USD/JPY trading in Japan, however, this looks to slingshot upwards as markets are starting to heat up.

Active MT4 customers at Monex have been asked to settle their accounts until the end of its service on October 31, 2014.

It will be interesting to see if other brokers in Japan follow suit, as Monex is now slated to be the only broker in the country that has embarked on this initiative, ending its reliance on one of the most successful and widely used platforms in the 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 industry.

According to Mr. Katsuya in an exclusive interview with Forex Magnates, “The beauty about the tradable platform is that customers can choose their favorite applications, amongst many other options."

"Additionally, we feel the customers can change their interface of the Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term by locating different types of charts and applications. So if the customers can locate and use various currency charts and attractive apps, it is much easier for customers to pick up other currency pairs than the USD/JPY."

"Monex is also going to educate our customers on how to utilize the tradable platform. Our strategy is not just competing with lower pricing, but we offer more user-friendly trading applications and platforms for customers so that they will trade more with us," Katsuya added.