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Screenshot of a breaking news alert e-mail from Q2 2017
Just two days ago, LeapRate reported the somewhat dramatic move by Japanese FX giant MONEX Group to cease its support for the MetaTrader 4 trading platform, signaling the switch to diversity of platforms in one of the most conservative geographical sectors of the retail FX industry, where clients are loyal and often resistant to change.
Whilst the lion’s share of brokers within the global retail FX business continue their affinity to the ubiquitous MetaTrader 4, partly due to familiarity among traders and ease of acquiring new clients which have traded with other brokers, but largely due to its ergonomics with regard to expert advisers.
Today, LeapRate has discovered a remarkable coincidence with regard to this matter, insofar as just a matter of days after MONEX Group having closed the door on MetaTrader 4, application based platform Tradable prepares for its launch in Japan.
MONEX Group and Tradable has already launched the service demo users no more than a month ago, following the innovative step of hosting an FX application hackathon in Japan earlier this year, a development exercise that captured the attention of Japan’s up and coming developers who can use their own skill to drive the business forward.
“The feedback from the Japanese community has always been very positive, and we have been working tightly with MONEX Group to be able to deliver a very new type of trading experience for Japan. The things see being built on top of our platform are truly unique, and provides a very differentiated experience altogether” revealed Mr. Malling.
In terms of the business relationship and future operational parameters, Mr. Malling concluded that “From the outset, we’ve been focusing on the quality of brokers rather than the quantity”
There has been no indication from any party of any connection between the discontinuance by MONEX Group of MetaTrader 4 and its willingness to venture into the realms of platform diversity, however the future for Japan’s traders lies beyond the familiar.