Japan’s fintech Finatext to launch FXclue app for novice forex traders

Japan’s fintech Finatext to launch FXclue app for novice forex traders

- in All News, Trading Platforms
finatext fxclue

Japan’s financial technology company Finatext announced it will launch this summer a new smartphone application for novice traders – FXclue, in partnership with a leading securities company. According to the company, even though the forex industry in Japan is the largest in the world with JPY 4.218 trillion trading volume and client assets reaching JPY 1.317 billion in FY 2015, there is a prevailing lack of understanding on the accompanying risks and returns from trading in forex.

This is not the first forex app of Finatext. In the end of last year it teamed up with YJFX!, Yahoo! Japan Group’s (TYO:4689) forex and binary options broker and released the app Karu FX – an educational and trading platform with a social feature, which has 110 000 active users and a trade executed every 0.7 seconds. Now, Finatext is implementing knowledge and information from Karu FX into its new application, while its partnership with a leading securities company is expected to expand Finatext’s customer base.

Finatext was founded by an ex-investment banking professional and quantitative analyst with strong academic track records from the University of Tokyo. Having strength in development skills as well as strong emphasis on design, the company provides user-focus mobile financial services. Besides Karu FX and FXClue, Finatext offers several other consumer applications: Fundect – a mutual funds platform, Asukabu – an educational and trading platform for stocks with a community feature and Invesgate (due to be released soon) – a trading platform for stocks, forex and funds. The company also offers an app for financial institutions: Assetarrow – a mutual fund data service.

In May the Japanese forex and binary options market reported a decline.  Of all the major forex brokers in the country, only the largest – GMO Click Securities reported flattish revenue, but declining trading volumes, while Invast Securities’ revenue decreased to JPY 238 million – the lowest since September 2014. Another significant player on the Japanese forex market –Money Partners Group also reported a continuing decline both of trading volume and operating revenue. So did Monex.

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