Upgrades loom for 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.