Rakuten Securities Hong Kong is scouring the foreign exchange market for fresh opportunities armed with a brand new forex account service, launched under the name Rakuten FX. The move follows the expansion of Rakuten Securities in the APAC region after the company acquired last month 100 per cent of the shares in Australian foreign currency broker FXAsia Pty Ltd.
According to the Japanese-backed FX broker, the new Rakuten FX account offers tight fixed spread with a commission-free environment, while trading order execution rate is over 99% through its new Rakuten FX platform.
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Backed by an internet giant, Rakuten Securities HK plans to launch new FX trading platforms which will be available later this autumn. The first, MARKETSPEED FX – Desktop, will be launched on October 3, 2016 and it will not charge any commission fee. Other versions will include iSPEED FX for mobile trading and Rakuten FX Web which works on major web browsers with an almost full set of trading functions while no installation is needed.
Rakuten Securities doesn’t require clients to make a minimum deposit before they are allowed to trade. The company scrapped the deposit requirement recently to target more traders after they were formerly required to deposit a minimum of $2,000.
Rakuten Securities Hong Kong Limited is a wholly owned subsidiary of Rakuten Securities, one of the major online brokers in Japan which acquired FXCM Asia in September 2015. Rakuten Securities, Inc. is a member of the Rakuten Group, a major Japanese e-commerce and financial services provider.