Monex launches new mobile app for trading US equities

Japanese online trading services provider Monex Inc, a subsidiary of Monex Group, Inc. (TYO:8698), has announced the launch of a new TradeStation mobile application for trading US stocks.

The application targets Japanese traders and is already available for Android and iOS gadgets, enabling users of the solution to trade US equities on the go.

The solution performs some of the essential functions that a stock trader needs while trading on the move – balance monitoring, access to stock price feeds (but these will not update in real time for all users), chart analysis via a raft of tech indicators, as well as, of course, stock trading. The variety of order types is the same as the one for the other versions of the TradeStation platform, including some rare modifications like OSO – order sends order.

For iPhone users, security is boosted thanks to fingerprint identification. (I am personally not a fan of arguing with my phone to let me in, but I suppose those in favor of tightened access to their funds and trades will appreciate such protections – Ed.)

The release of the solution is in tune with ambitious plans with regards to TradeStation that Monex has outlined earlier this year, when it posted its financial metrics for the third quarter (October-December 2016) of the fiscal year to March 31, 2017.

Monex noted back then the success of the Japanese stock trading platform developed by TradeStation group. It reported that the number of funded accounts rose four times, whereas the trading volume rose three times quarter on quarter thanks to the growing popularity of TradeStation and the simplified account opening process.

The plans for the platform involve achieving a trading volume of JPY 800 billion a month and net income of JPY 2.4 billion a year in the medium term.

Monex is now focusing its efforts on its TradeStation offering, following the abandoning of MetaTrader 4 in the fall of 2014 and of Tradable in the summer of 2016.