Japanese powerhouse DMM FX has announced that the company is waiving the fees it was charging on deposits. The brokerage has also waived fees on withdrawals for clients that are withdrawing over 1000 units of their base account currency (100,000 for Japanese yen).
A little over a year after the demise of the brokerage industry caused by the Swiss National Bank (SNB) induced turmoil, DMM FX has also decided to introduce a negative balance protection assurance for its clients.
With a number of currency pegs under threat due to falling oil prices, incoming excess volatility in the foreign exchange markets may once again affect the account balances of over-leveraged traders. The step which DMM FX is taking is to ensure that its own clients are adequately protected from excess market moves and cannot lose more than their initial deposit.
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The negative balance protection policy which DMM FX is introducing will become active from the 22nd of February 2016.
Catching up with a broader industry trend, the Japanese brokerage powerhouse has also reported that it is starting to offer a number of CFDs (contracts for difference) to its clients.
For traders looking beyond foreign exchange, DMM FX has now added crude oil contracts and some broadly popular indices – the Japanese Nikkei 225, the U.S. Dow Jones Industrial Average (DJIA), NASDAQ 100 and the S&P 500.
Like many of its peers in the industry, DMM FX has also added support for the new MetaTrader 4 WebTrader. With this addition, the Japanese brokerage can provide the following trading platforms to its clients: MT4 for PC, MAC, the MT4 Webtrader, and mobile solutions for iOS and Android devices.