Following the acquisition of Japanese retail FX brokerage Planex Trade’s client base by GAIN Capital’s Forex.com brand in August this year, today signals the end of Planex Trade’s Forex business in its entirety.
As initially reported by LeapRate, the reasons for the acquisition had not been explicitly stated at the time, but the move marks an interesting twist when considering that in December 2012 it was Planex that took over the Japanese business of GFT, the company which is now part of GAIN Capital. The integration of GFT’s services into Forex.com has been progressing and customers of Forex.com UK and Australia can now make use of multi-asset trading platform DealBook. The accent of the offering in the UK, as one may expect, is spread betting.
Planex Trade has now officially consigned its Forex business to the history books by publishing a notice to clients (in Japanese) on its website, which states as that the firm has terminated its entire Type 1 Financial Instruments Business which includes Shisutore.com, Planex Trade Pro and Planex Binary on October 10 2014. The entire client base had been transferred to Gaitame, which in turn was transferred to Forex.com Japan Ltd (trading as GAIN Capital Japan Co Ltd).
The announcement by the company concludes by offering a point of contact for inquries relating to deposit and withdrawal of client funds.
Click here to read the full announcement.