Japanese broker Rakuten Securities to cut USD/JPY spread
The USD/JPY spread will be reduced from 0.3 to 0.2 sen, effective November 25, 2019.
Rakuten Securities, a subsidiary of Rakuten Inc (TYO:4755), today announces that it will reduce the spread on USD/JPY trades, effective November 25, 2019. The spread will be cut from 0.3 sen to 0.2 sen (one sen equals one hundredth of a yen).
The company has implemented a USD/JPY spread reduction campaign which is poised to conclude on November 23, 2019. In order to respond to customers’ requests, Rakuten has decided to cut the spreads after the campaign’s end.
Let’s note that the spread is not fixed and may widen around market open/close and due to major market events, such as force majors (like earthquakes), or political changes and important economic developments.
About a month ago, Japanese retail FX broker Monex Inc, a part of Monex Group, Inc. (TYO:8698), cut the spread on USD/JPY trading in its “FX Plus” service from 0.3 sen to 0.2 sen. Monex said the change was made in order to provide the customers with a better trading environment.
Shortly before that, another Japanese retail Forex broker – DMM FX, also announced reduction to the spread for USD/JPY. The broker said the spread is reduced from 0.3 sen to 0.2 sen.
Japanese brokerages have been trying to enhance trading conditions. In July this year, Rakuten Securities and Monex Inc, announced lowering of the minimum trading fees for US equities trading to zero.
