Japan’s Rakuten Securities to offer trailing orders to FX traders
Clients of the brokerage who trade on Market Speed FX, FX-WEB and iSPEED FX will be able to use the new order type.
Japanese online trading company Rakuten Securities, a subsidiary of Rakuten Inc (TYO:4755), is planning to enhance the trading capabilities offered to users of its FX trading platforms.
The brokerage is planning to widen its range of orders via the addition of trailing orders. The launch is planned for June 22, 2019, with the new order type to be available to users of all versions (desktop, mobile, etc) of Market Speed FX, FX-WEB and iSPEED FX.
A sell trailing stop order sets the stop price at a fixed amount below the market price with an attached “trailing” amount. If the market price rises, the stop price rises by the trail amount. If the security’s price declines, the stop loss price does not change, and a market order is submitted when the stop price is hit.
Speaking of trading opportunities available to clients of Rakuten Securities, let’s recall that, in October last year, the brokerage launched MARKETSPEED II. The platform was originally set to be released on September 30, 2018 but then the launch was rescheduled for October 14, 2018, and, after that, the launch was rescheduled again – this time for October 28, 2018. The company has explained that the delays reflect the need to improve and strengthen the functionalities of the platform in response to customers’ requests and comments.
The broker has been regularly updating the platform. In February this year, for instance, version 1.3.0 of MARKETSPEED II was released. That update offered a raft of enhancements, including the display of more information about stock prices. Another noteworthy improvement concerns order cancellation, as the platform now offers a new functionality in this respect – multiple order cancellation. Traders can make use of this functionality from the main window. All they have to do is click on the “Order” menu and then select “Cancel all”.