Japanese retail FX broker FXTrade Financial Co., Ltd. (FXTF) has announced its plans to terminate the offer of the High Speed FX trading service and to focus on MetaTrader 4 (MT4).
The termination of High Speed FX is scheduled for July 9, 2016, with users of the service offered to switch to MT4. The switch will be automatic for positions in all instruments (unless a client refuses to move to MT4), apart from seven currency pairs: EUR/ZAR; GBP/ZAR; HKD/JPY; SGD/JPY; USD/HKD; USD/SGD; USD/ZAR. These instruments are not supported in FXTF MT4 and traders who have open positions in them will have to close them before July 8, 2016, or the broker will close these automatically.
In the meantime, FXTF is seeking to beef up its MT4 offering with new functionalities and campaigns, the latest example being a spread-cutting campaign covering four popular currency pairs.
FXTF is not the single Japanese broker that is streamlining its offering. Las week Monex Inc, the Japanese Forex subsidiary of Monex Group, Inc. (TYO:8698), announced its plans to terminate the support of trading platform Tradable.