The most popular trading platform for retail foreign exchange trading, MetaTrader 4, has not been particularly favorable amongst Japanese traders. The biggest brokers in the country like GMO Click and DMMFX use proprietary software to offer to their clients a unique trading solution.
One of the fastest growing Japanese brokerages, FX Trade Financial, seems to be aiming to change that. The company has reported that as of the end of March it has reached a milestone in the handling of MetaTrader 4 accounts. The firm has reported that it surpassed 50,000 MT4 accounts in the first quarter of 2016.
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FX Trade Financial is actually actively targeting its traders to make a switch from its proprietary trading platform to MT4 with a set of incentives. Traders are enticed with a chance to win a bitcoin and with a cash back rebates program that is returning commission to the company’s clients depending on their monthly volume. Other incentives include lower spreads on major currency pairs traded in Japan.
After launching MT4 in August 2011, the number of clients trading through the platform has been steadily growing. FX Trade Financial has been steadily adding more users to MetaTrader 4 in recent months in an effort to optimize its cost structure.
FX Trade financial registered 62 per cent growth in MT4 trading accounts year-on-year with only about 35,000 clients trading on the platform at the end of the final calendar quarter of 2015.