YJFX, the award winning Japanese broker, notified its traders on Friday that the firm is ending its MT4 service and all positions must be closed by March 13, 2015 or transferred to YJFX’s standard platform.
In September, rival Japanese trading powerhouse, Monex, announced that it was terminating its support for the MT4 platform, having shifted its focus and backing behind the newer tradable platform. It now seems that Monex might have started a trend of Japanese brokers abandoning MT4, and if more follow YJFX, the country could be the first market to advance beyond the MT4 dominance era in retail FX.
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The MT4 offering was a legacy product for the broker that came along when CyberAgent FX was acquired by Yahoo Japan in 2012. The platform reportedly only constituted a small percentage of their overall FX business and was not even a core product for CyberAgent when acquired and later rebranded as YJFX.
The broker has a plan to continue integrating FX trading with other financial mobile apps from Yahoo Japan, and it seems that MT4 cannot be part of such a proprietary approach.