Japanese broker Monex continues to slash equities trading fees amid sliding trading volumes

Maria Nikolova

Monex Inc says it will lower the minimum fee for US equities trading from US$0.1 to US$0.01 in what seems to be an attempt to shore up falling trading volumes.

Japanese online trading company Monex Inc, a part of Monex Group, Inc. (TYO:8698), has earlier today unveiled its plans to further reduce the trading fees for US equities trading. The brokerage intends to lower the minimum fee (excluding tax) for U.S. equities trading from US$0.1 (10 cents) to US$0.01 (1 cent) for trades that are executed from July 22, 2019.

Monex has already announced it would reduce the minimum fee for US equities trading from US$5 to US$0.1 from today, July 8, 2019. Starting from Monday, July 22, 2019, Monex will further lower the minimum fee for U.S. equities trading to US$0.01 (1 cent).

The fee reduction happens amid sliding trading volumes in the Group’s Japanese business. In the year to end-March 2019, Monex Inc (the Japanese subsidiary of Monex Group) saw revenue decrease due to lower equities trading volume. The segment registered ¥1.8 billion impairment loss on fixed assets related to Japanese Equities trading tool “TradeStation”, which resulted in ¥1.7 billion of net loss due to reevaluation of book value based on the actual performance, while the service continues to be provided. Monex has said that the impairment and the revision of future amortization for other fixed assets will result in a decrease in depreciation and amortization cost in FYE Mar. 2020 by ¥1.6 billion per year.

In today’s announcement, however, the brokerage did not mention anything about the lower revenue from falling trading volumes in its Japanese business. Instead, Monex mentioned its strategy “For Creative Minds,” a brand statement announced in November 2018. According to this strategy, Monex, Inc. is committed to proposing innovative, “future finance,” with a creative mindset, leveraging new ideas and perspectives that go beyond the traditional framework.

Read this next

Digital Assets

Binance executives sue Nigerian authorities over rights violation

Two senior executives from Binance have filed a lawsuit against against Nigeria’s national security adviser’s office and its anti-corruption agency, alleging violations of their fundamental rights.

Retail FX

Banxso announces 8.7% interest rate on deposits in South Africa

“With Banxso, they can enjoy the benefits of both worlds – earning competitive interest and having the freedom to trade, all within the same platform.”

Industry News

FINRA to publish transaction details in U.S. Treasury securities

“Consistent with our longstanding practice, FINRA is introducing greater transparency in a calibrated and careful manner, benefiting liquidity and resilience in this critical market while also mitigating potential information leakage concerns.”

Institutional FX

OpenYield launches “cheap and easy” fixed income trading for brokers

“We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

Digital Assets

Sumsub and Mercuryo publish a guide for VASPs: “Mastering Travel Rule Compliance”

“At Sumsub, we’ve concentrated our efforts on filling the gap in understanding the complexity of Travel Rule regulation and helping organizations find the best solution to stay safe and compliant while minimizing costs and avoiding potential risks of non-compliance. This guide we created with Mercuryo, our trusted partner, is the ultimate navigation tool all VASPs can consult.”

Digital Assets

Bitget Wallet Leads with Record Swap Volume & New Crypto Innovations

This week, Bitget Wallet achieved a milestone by surpassing Metamask with a record 388,757 Swap order transactions, securing the global lead. The significant 7-day trading volume, almost 68,000 more than its rival, underscores its liquidity and user trust. This robust activity signals Bitget Wallet’s prominent role and reliability in the dynamic crypto market.

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

<