Upgrades loom for Rakuten FX platform

Maria Nikolova

Whereas FX broker Rakuten Securities HK had to explain the effects of developments around FXCM US on the trades via Trading Station platform, it is now planning to enhance the Rakuten FX platform.

Hong Kong Forex broker Rakuten Securities HK is setting the stage for some enhancements to the Rakuten FX platform, the proprietary platform of its parent company Rakuten Securities, Inc.

Rakuten FX is a fairly new platform for the clients of the Hong Kong company. The launch was announced in September 2016. Back then, Rakuten Securities said the platform will be available as of October 2016 in three versions: desktop (MARKETSPEED FX), mobile (iSPEED FX) and web (Rakuten FX Web).

It was important for the broker to add a platform developed by Rakuten to the offering. The alternatives include Trading Station, supported by FXCM. It was a legacy from the sale of of FXCM Asia Limited (FXCM Hong Kong) to Rakuten Securities, Inc. for approximately $36 million in May 2015.

Following the latest developments around FXCM’s US business, Rakuten Securities HK had to explain to its clients that it is a wholly owned subsidiary of Rakuten Securities, Inc., a part of Rakuten Inc (TYO:4755). It also sought to assure clients the events had had no impact on the trades placed through Rakuten Securities HK’s Trading Station account.

The Hong Kong broker offers its clients trading in 30 currency pairs through Rakuten FX, the proprietary platform of the Rakuten Group of companies, with the latest six additions to the lineup including USD/CAD, USD/HKD, EUR/AUD, GBP/AUD, EUR/NZD and GBP/NZD.

What’s in the works? The company promises that in March this year, Rakuten FX in its three versions – for web, mobile and desktop, will give traders access to the Reuters RSS news. In April this year, the MARKETSPEED FX Demo Account is set to become available, so that traders can experience risk-free online trading. Rakuten also promises improved conditions for hedging, as well as enhanced AS Streaming by adding a new option to close specific outstanding positions.

The Rakuten FX trading platform is rather popular amid the clients of Rakuten Securities Inc, the Japanese FX broker.

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading

Technology

DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.

<