The retail business of the biggest forex broker in the world in terms of retail trading volumes, Japanese GMO Click has marked a new milestone for the firm. The company reported that it has registered the 400,000th account at the brokerage during the past month.
While the operations of GMO Click Securities, which is majority owned by GMO Internet Group, have been challenged by the recent regulatory scrutiny in Japan, the company’s growth was not deterred.
That said, the company has not provided the number of active accounts in its milestone announcement. The trading volumes transacted through the broker’s FX Neo platform designated for retail traders have been buoyant and collateral deposits have consistently increased in recent years.
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The parent company of GMO CLICK Securities Co, GMO Internet Group, also announced today that it will be selling 5,710,000 shares between the 24th and the 26th of June. The move is being done in order to improve the liquidity of shares traded on the JASDAQ Securities Exchange, where the firm is listed.
Currently, only 1.56 percent of the company is trading on the marketplace, with 98.44 percent of shares being solely owned by GMO Internet Holdings. After the sale the parent company will retain its majority share of about 106,855,000 shares, representing a 93.44 controlling stake.
The price of the share offering will be calculated depending on the closing price on the day prior to the auction. The application limit for new shares is set at 190,000 shares. Currently the company’s shares are changing hands at ¥1116 ($9.34).
GMO Click launched the FX Neo platform in October 2006, advertising it as cheaper and easier to use and also offering some of the lowest spreads in the industry. The offering has been widely popular in Japan and the company has established operations in Hong Kong, and more recently an FCA regulated subsidiary under the brand name Z.com Trade.