Monex Slated to Terminate MT4 Service, All-in on tradable

Japanese FX stalwart Monex Group, has announced it will be terminating its service for the Metatrader 4 (MT4) platform by

monexlogoJapanese FX stalwart Monex Group, has announced it will be terminating its service for the MT4 platform by the end of October, having shifted its focus and backing behind tradable’s platform.

Monex went live just over a month ago with tradable’s platform, as first explained  to Forex Magnates by Toshihiko Katsuya, President at Monex FX.

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Monex has faced large headwinds given the waning volatility and outright stagnation of the USD/JPY trading in Japan, however, this looks to slingshot upwards as markets are starting to heat up.

tradable_full_logoActive MT4 customers at Monex have been asked to settle their accounts until the end of its service on October 31, 2014.

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It will be interesting to see if other brokers in Japan follow suit, as Monex is now slated to be the only broker in the country that has embarked on this initiative, ending its reliance on one of the most successful and widely used platforms in the forex industry.

According to Mr. Katsuya in an exclusive interview with Forex Magnates, “The beauty about the tradable platform is that customers can choose their favorite applications, amongst many other options.”

“Additionally, we feel the customers can change their interface of the trading platform by locating different types of charts and applications. So if the customers can locate and use various currency charts and attractive apps, it is much easier for customers to pick up other currency pairs than the USD/JPY.”

“Monex is also going to educate our customers on how to utilize the tradable platform. Our strategy is not just competing with lower pricing, but we offer more user-friendly trading applications and platforms for customers so that they will trade more with us,” Katsuya added.

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