Brokers’ Update – GMO Click, Rakuten Extend Trading Hours, Pairs

In our latest daily digest of news from across the global retail trading industry, one firm warned about a fraud attempt, two Japanese brokers posted updates on new instruments and regulations force leverage down in Poland.

MahiFX, a broker licensed by the New Zealand Financial Markets Authority (FMA) and the Australian Securities and Investments Commission (ASIC), has warned its clients to watch out for an alleged corporate identity theft by a clone website. The note from the firm reads: “It has come to our attention that a website called Great Trade has been using some of our information and images. We’d just like to let you know that this website is fake, and has no affiliation with MahiFX. We have reported Great Trade to the appropriate organisations.”

In Japan, GMO Click Securities has announced that on August 24, it will extend the trading hours for some of its CFD instruments, including the UK100 and Japan225 stock indices, as well as two agricultural commodities, corn and soybean.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Meanwhile, rival Japanese broker, Rakuten Securities, is set to add the Turkish lira/yen pair to its FX offering on August 29. Rakuten made the decision to remove the US dollar/Turkish lira and Euro/Turkish lira pairs in September, but in this way its clients will still be able to access the Turkish lira in a pair more relevant to Japanese traders.

Lastly, AvaTrade has informed its clients in Poland that due to new regulations set by the Polish regulators, it must restrict leverage for all clients residing in the country to 100:1. AvaTrade will update the leverage on the 26th of September.