As the hazy days of summer continue to roll by, we bring you our latest daily digest of news from across the retail forex space. A number of brokers posted updates today, including Orbex, which has partnered with Tradeworks to provide customers with a DIY algo-building tool. In Japan, traders can expect a new trading platform from GAIN Capital and a new look for Alpari Japan, now under the Dukoscopy umbrella. Finally, binary options traders should consult Alpari’s new terms of business.
Orbex Automated Expert Advisor
Firstly, Cyprus-based forex broker, Orbex, has joined forces with Copenhagen/Singapore-based fintech company, Tradeworks, to offer less technically-inclined clients the possibility to automate their trading strategies with “Orbex Strategizer”.
The new service allows the firm’s retail clients to create their own forex trading strategy and have it run directly on MetaTrader 4, which Orbex supports. The build-it-yourself algorithmic trading platform does not require that users know how to code or have a programming background. Rather, Orbex insists that “success of your forex trading strategy should not rely on how much money you can pay for a robot, nor how good of a programmer you are, but how good your forex strategy is.”
Last but not least, the service is free and accessable on the cloud via the Orbex site.
As per its website, Orbex offers “a diverse range of products including Foreign Exchange, Precious Metals, Future Contracts (OTC), Equity Indices (OTC), CFDs and Energy Contracts on the MetaTrader platform.” The firm is regulated and licensed by the Cyprus Securities and Exchange Commission.
Platform Changes for GAIN Capital’s Japanese Clients
Leading forex broker, GAIN Capital (NYSE:GCAP), continues to consolidate its products and offerings following the acquisition of City Index for $118 million in March. In line with its intention to phase out its Dealbook 360 trading platform brand, Japanese clientele have been provided the opportunity to migrate to Advantage Trader, City Index’s online trading platform.
From October 10, 2015 onwards, Japanese clients will not be able to access Dealbook 360, and will therefore be required to either migrate to the Advantage Trader platform or close their accounts. While primarily serving retail traders, DealBook 360 has white label agreements for institutional clients in place.
ACY Securities Supports ASIC’s Product Intervention OrderGo to article >>
In order that GAIN Capital continues to offer a full while labelling solution to its Japanese clients, City Index’s Advantage Trader platform will be launched in Japan on October 12, 2015.
It remains to be seen how many of GAIN Capital’s Japanese clients using Dealbook 360 will choose to migrate to the Advantage Trader platform. The solution has been well developed within the City Index brand, and given that the Dealbook 360 platform will cease to exist, any alternative would require migrating to a new broker.
Alpari: New Japanese Identity and Updated Terms for Binary Traders
Alpari has come out with a couple of updates. The first relates to the recent acquisition of Alpari Japan by Switzerland’s Dukascopy Bank. In a Q&A style press release, Alpari Japan sought to shed light on a number of practical issues that clients may face as a result of the deal.
Namely, under the new owenership, the company will trade under the name Dukascopy Japan, with resultant changes to its brand and website to follow.
Clients will also need to bear in mind new contact details and url addresses, should they have any queries in the future, want to open an account, etc. The company promises to provide all requisite details in due course.
Importantly, MyAlpari, the personal cabinet of Alpari Japan clients, will be closed. Traders will not be able to access the portal from August 11, 2015.
Finally, Alpari has also changed its Terms of Business for Binary Traders. Specifically, Section 1, clauses 2.3, 2.5, 2.7, 2.8, 7.1 and 9.1 will be altered, and Section 6 and clause 2.6 will be added. The remainder of the Regulations will remain unchanged.
Binary options traders are advised to check the updated version of the document in the Regulatory Documents and Agreements section of the broker’s website.