Japan’s Money Partners offers cheapest forex service – study

Japan’s Money Partners offers cheapest forex service – study

- in All News, Forex Brokers
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The Japanese forex broker Money Partners, part of the conglomerate Money Partners Group (TYO:8732), said it ranked first as the cheapest forex exchange service provider in Japan, for a second consecutive year. The claim is based on a survey done by the local business research and analysis company Yano Research.

The study was conducted among 167 companies providing foreign exchange services in Japan. It found that Money Partners charges between 90 and 97% lower commissions on exchanging USD, EUR, GBP and CHF, on 800 or more currency units.

USD EUR GBP CHF
Money Partners 0.2025 JPY 0.2055 JPY 0.2295 JPY 0.2190 JPY
Banks 1.75 JPY-3.25 JPY 3-9.50 JPY 7-15 JPY 2.97-4.90 JPY
Forex exchange companies 0.89-3.36 JPY 1.60-6.715 JPY 3.49-15.185 JPY 2.25-7.925 JPY

The holders of forex accounts with Money Partners can deposit JPY and exchange it into a forex currency over the internet, can get their sum at the currency exchange offices of the broker at Narita International airport, Haneda airport, or Kansai International Airport. Besides the aforementioned currencies, the broker offers exchange of KRW and CNY.

Money Partners Group is a holding company consisting of the forex and CFD broker Money Partners and the fintech development company Money Partners Solutions. In April operating revenue was JPY 473 million, down 10.6% from March.

In the recent months it has been making serious investments in the blockchain technology. In the end of March it announced an undisclosed investment in the Japanese branch of Payward – the operator of the Kraken bitcoin exchange and earlier this month announced an investment of JPY 49 million in the operator of the Japanese bitcoin exchange Zaif – TechBureau.

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