Binary options platform provider, MarketsPulse, has announced that it has established its second partnership on the Japanese market, delivering its solution to Planex Binary. The company established its presence in Japan 5 years ago signing with FxTrade Financial and successfully faced all the regulatory challenges that followed.
Planex Trade, a brokerage company which entered the foreign exchange market back in 2003, has announced the launch of their Binary Options product “Planex Binary”. The offering is compliant with existing Japanese Financial Services Agency (JFSA) regulations, providing the Japanese customers Ladder options with plans to expand their offering in the coming months.
MarketsPulse currently offers brokers 3 different option types – all in compliance with the new regulation: Ladder Option, Multi-Range and Touch / No Touch.
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Forex Magnates’ reporters have contacted the company asking about its operations in Japan. and the regulatory environment. The firm’s Vice President Shay Hamama has stated, that “new regulations primarily affected the MarketsPulse before the changes were implemented. When the regulators announced in mid-2012 that there were going to be changes, no broker could apply for a binary option operating license. Prior to the announcement we were in contact with several brokers who wanted to integrate our binary options technology with their product suite, however once the new regulations were implemented, we were able to reignite the process with many of these brokers. Although the changes have dramatically affected us, advantages have come from it. We now see that both the broker and us are more comfortable with initiating a partnership because there is more regulatory stability in the Japanese market.”
Elaborating on the current state of the market in Japan, Mr. Hamama has shared that, “a gradual increase of new brokers entering the market has been seen and growth of total volume has been in the industry since January 2014. Data regarding the binary option market made available to the public through JFSA’s website, since the change in regulation has provided us the ability to better examine the market and see its growth trajectory.”