FXCM Japan restricts CFD trading to professional clients

In an announcement, the Japanese subsidiary of the global retail FX giant FXCM said that it would no longer accept applications for CFD accounts from general clients, including companies and individuals. On this basis, FXCM Japan stopped accepting new applications for gold CFD/stock index CFD accounts from retail clients, but existing CFD clients are still able to trade today as clients can open/close new positions.

The service will remain unchanged for professional customers of FXCM Japan. These include all registrants with the Financial Services Agency (FSA), the Japanese regulator, with the list of such market participants available here.

The broker stated in its announcement that the change is a part of a wider restructuring of its CFD offering, with the company now targeting only certain clientele.

The change happens as FXCM prepares to launch single share CFDs for its retail clients in markets outside Japan including North America and other western nations. The broker has already opened the waiting list so that all those wishing to check out the new product first. Single share CFDs will be available on Trading Station and Metatrader 4, making it possible for the FXCM to market the product to a wider clientele.

Another originally US-based online trading giant – Forex.com, is also shifting the focus of its offering in Japan. As of October 1, 2014, Forex.com Japan will be renamed to GAIN Capital Japan, with the business to concentrate on the GTX institutional offering.

FXCM insisted that its Forex services in Japan will remain intact and that they will be available to all general and professional customers.

The move happens against a backdrop of stricter regulations for the online trading sector in Japan, with brokerages gradually raising margin levels and paying extra attention to the level of expertise of their clients.

You can read the official press release by FXCM by clicking here

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