DMM FX Australia, the ASIC regulated subsidiary of the world’s second largest retail broker by volume, Japanese DMM Securities, has officially launched today. Back in July, Forex Magnates wrote about DMM’s intentions to expand its presence with the creation of an ASIC regulated unit. At the time, a representative explained to Forex Magnates that their broker will be focusing on marketing towards the Australian population.
Unlike DMM Securities, DMM FX will be offering MetaTrader 4 to users along with its proprietary web-based trading platform. The broker will be offering tighter spreads for webtrader users. It’s not the first time a broker is applying such a policy, as FXCM spreads are slightly higher for MT4 users to compensate for additional technology charges. In addition, as MT4 is much more popular among EA markets and money managers, the higher spreads provide an easier way to compensate the broker’s partners and affiliates.
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