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Japanese Forex broker SBI FXTRADE cuts AUD/USD spread

Maria Nikolova

Effective today, the Forex broker is reducing the spread on AUD/USD from 0.80 to 0.59 pips.

SBI FXTRADE Co., Ltd., a Forex trading subsidiary of Japanese financial services provider SBI Holdings Inc (TYO:8473), today announces further enhancements to its trading conditions, as the spread on the Australian dollar / US dollar trades will be reduced.

Effective this morning, the brokerage cuts the spread on AUD/USD trades from 0.80 to 0.59 pips. The spread, however, is not fixed, and may fluctuate due to major market events and news announcements.

The spread reduction for AUD/USD comes about a month after the company axed the spread on USD/JPY. Other Japanese Forex brokers have also cut USD/JPY spreads. Rakuten Securities, a subsidiary of Rakuten Inc (TYO:4755), has announced a reduction to the spread on USD/JPY trades, effective November 25, 2019. The spread was cut from 0.3 sen to 0.2 sen (one sen equals one hundredth of a yen). Monex Inc, a part of Monex Group, Inc. (TYO:8698), tightened the spread of USD/JPY trading in its “FX Plus” service from 0.3 sen to 0.2 sen, with the change effective October 17, 2019.

Speaking of trading conditions at SBI FXTRADE, let’s note that the company is expanding its Forex instruments lineup. In response to traders’ requests, the company is adding eight currency pairs to its offering, including RUB/JPY; BRL/JPY; PLN/JPY; SEK/JPY; NOK/JPY; MXN/JPY; SGD/JPY; and USD/CNY. The additions take the FX currency pairs lineup available to clients of SBI FXTRADE to 34 currency pairs.

In October 2018, the company launched Forex options.

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