Monex temporarily cuts spreads on 13 forex pairs on Tradable platform

Monex temporarily cuts spreads on 13 forex pairs on Tradable platform

- in All News, Forex Brokers
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Monex Inc., a Japanese forex broker part of the Monex Group (TYO:8698), said on Tuesday it has reduced the spreads on 13 currency pairs, including some of the most popular ones, for a period of eight weeks for clients who use the Tradable trading platform. The promotional campaign started on 7 March, 2016, and will continue until the end of April.

The new spreads range between 1.2-3.6 pips for the different currency pairs. Spreads will automatically be adjusted to comply with the altered trading conditions.

The broker said the campaign is subject to extension.

A few days ago, GMO Click Securities, another Japanese forex broker, part of the GMO Click group, announced the extension of its campaign for reduced spreads on for main currency pairs – EUR/JPY, GBP’/JPY, EUR/USD, GBP/USD, to 0.5 sen, 1.0 sen, 0.4 sen, and 1.0 pip, respectively. Sen represents one-hundredth of a JPY.

Meanwhile, Invast Securities, also a forex broker based in Japan, recently reduced the spreads on four currency pairs – EUR/JPY, GBP/JPY, AUD/JPY, and EUR/USD traded via its semi-automated forex service Tri-Auto FX.

The new lower spreads on all 13 currency pairs offered by Monex Group during its reduced spread campaign period follow:

Currency Pair

Spread

USD/JPY

 1.2 pips

EUR/JPY

1.5 pips

AUD/JPY

 3.6 pips

NZD/JPY

2.1 pips

GBP/JPY

2.8 pips

CHF/JPY

3.6 pips

CAD/JPY

 2.6 pips

HKD/JPY

 2.2 pips

SGD/JPY

1.3 pips

ZAR/JPY

3.4 pips

EUR/USD

2.3 pips

GBP/USD

2.4 pips

AUD/USD

2.0 pips

Tradable is a trading platform for forex instruments launched in 2012. The platform features build-in tools and apps, as well as both free and paid downloadable apps, including for technical analysis, algorithmic trading and social copy trading.

The Monex Group contains of Japan-based holding company Monex Group Inc. and its Japanese subsidiaries Monex Inc., Monex Ventures, Trade Science Corp., Monex Hambrecht, and Monex-Saison-Vnaguard Investment Partners, which is a joint venture in which the group holds a majority stake. In addition, the group owns TradeStation Group, which is in charge of the operations in North America and Europe, and Monex International, aka Monex Boom Group, which is in charge of the Asian business.

The group companies operate under three retail trading brands – Monex, TradeStateion and Boom. The majority, or about 60%, of its revenue comes from operations in Japan and the remaining 40% from operations in the US.

Spreads indicate the difference between the buying and selling price of a trading instrument. Spreads come in two types – floating, which depend on the market environment, and fixed, which stay unaffected.

Spreads indicate the difference between the buying and selling price of a trading instrument. Spreads come in two types – floating, which depend on the market environment, and fixed, which stay unaffected.

Source: Monex Group

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