Spread cutting continues across Japanese Forex brokers. Just a day after DMM.com Securities said it was reducing the spreads on eight currency pairs, another Japanese Forex broker added to the group of companies seeking to attract more traders via lucrative trading conditions.
GMO Click Securities, part of GMO Click Holdings Inc (TYO:7177), today announced it is cutting the spreads on three instruments on the FX Neo platform for OTC Forex trading. The instruments in question are: GBP/USD, AUD/USD and NZD/JPY.
The company notes that the spread reduction, which comes into effect today, is in tune with its broader efforts to enhance trading conditions on FX Neo. The platform is currently undergoing a major upgrade, with the new version to go live in February 2016. Demo trading on the upgraded platform is already available.
The spread reduction happens as GMO Click keeps experiencing decline in OTC Forex volumes. In November 2015, GMO Click reported OTC Forex volumes of JPY 67.42 trillion, down 21.8% from the result of JPY 86.19 trillion registered in October 2015.
Below is a chart with the new level of spreads on FX Neo:
You can view the original announcement from GMO Click by clicking here.