Rakuten Securities tightens spreads for 3 forex pairs

Rakuten Securities tightens spreads for 3 forex pairs

- in All News, Forex Brokers
JapaneseYen

Rakuten Securities, one of Japan’s largest forex brokers, announced it is introducing new, tighter spreads for three forex pairs. The new spreads are active as of Monday, May 9 and are in essence fixed spreads.

The new spreads apply to the GBP/JPY, EUR/USD and GBP/USD forex pairs. The spread for the first forex pair drops from 1.9 sen (a hundredth of a yen) to 1 sen. The spread for the second decreases from 0.9 pips to 0.4 pips and for the third – from 1.9 pips to 1 pips.

According to Rakuten’s own research, as of April 26, the new spreads are the tightest among the sic leading online Japanese securities companies SBI Securities, Kabu.com Securities, GMO Click Securities, Matsui Securities, Monex Securities and Rakuten Securities.

In April Rakuten Securities reported a 20.4% growth in its consolidated operating revenue for the fiscal year that ended on March 31. 2016. Also in April it set up a joint venture with Malaysia’s Kenanga Investment Bank Berhad (MYX:6483) and completed the rebranding of FXCM Hong Kong into Rakuten Securities Hong Kong.

Tokyo-based Rakuten Securities was fourth in Japan in 2015 in terms of largest retail forex trading volumes, on a non-consolidated basis, and second in terms of equities volumes, according to the notice. The company offers trading in a wide range of instruments, including more than 40 currency pairs, options, futures, commodities, stocks and bonds.

The holding company Rakuten Inc. and its subsidiaries are active in a number of Internet-based businesses, including finance, retail e-commerce, travel, e-money, internet banking, and digital content. It is listed on the Japanese stock exchange. It operates across Asia, Europe, the Americas and Oceania.

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