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Monex to discontinue Metatrader 4 forex trading platform in Japan

Sep 09 2014
By
Monex Inc, one of the largest Japanese forex brokers, opts to remove MT4, the most used worldwide trading platform, from its trading softwares in Japan hence putting all stakes on TradeStation and Treadable platforms.

The discontinuing of the world most popular trading platform is a surprising decision but doesn’t come as a surprise since back in July the company has stopped to accept new MT4 accounts. Nevertheless one may think that there is a reason why MT4 is the most popular trading platform worldwide and therefore to find the decision to stop offering it strange. It is not that popular in Japan, however, to put it mildly, with neither of the local giants GMO Click and DMM Securities offering it. Whether Monex should have tried to capitalize on that is debatable.

Just a few days ago Monex Inc. also sold to FXCM its MT4 retail account clients in US and Australia (via its subsidiary IBFX). Closing MT4 platform in Japan means that the broker has entirely dropped the Metaquotes’ famous platform.

As a result of the acquisition of TradeStation, a California based broker, in 2011 Monex owns a trading platform, namely the TradeStation one which should be regarded as very good judging from the fact that the vast majority of IBFX customers have chosen it over MT4. On the other hand Monex is the first broker in Japan to offer the fully customizable Tradable trading platform. The company it seems will focus now on popularizing Tradable in the Land of the rising sun.

This strategy may be successful or not. If Japanese traders like to customize software Tradable should be a hit. If they don’t it will be a miss. In any case Tradable is not the best platform for a new trader. But for those Monex offers TradStation.

Monex will shut down MT4 accounts on 31 October. Clients are urged to close their order before that day. Then, if they want to continue with Monex, they should change the platform. Interestingly, if a Monex’s MT4 client wants to continue trading with MT4 with a reputable company he/she must go to a foreign broker operating in Japan like FXCM or Forex.com.

The discontinuing of MT4 by Monex may be a part of its restructuring efforts. The company is trying to improve its performance after some grim operating metrics have been reported in the past few months.
 
TAGS: Monex  metatrader 4  MT4 

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US CFTC, NFA MT4, Web,
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Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia ASIC MT4, MT5,
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Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
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UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
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Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
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Australia, UK ASIC, FCA MT4, MT5,
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