Invast Securities has doubled the number of Mirror Traders in the past nine months.
Invast Securities, one of Japan’s leading retail FX brokers, has reported a doubling of the number of active Mirror Traders. Invast launched Tradency’s Mirror Trader in November 2011, and hit the 20,000 Mirror Trader client mark last July. Now they sit at more than 40,000 Mirror Traders. Good news for Invast, and good news for Tradency, which also recently expanded its Mirror Trader deal with FXCM.
After two years of a stagnating Japanese FX market, we are seeing a boom in Yen trading. With the December 2012 election of the new Shinzo Abe government, which promises a super loose monetary policy, we are seeing more volatility with all Yen currency pairs. Not unexpectedly, we have recently reported that with all this new volatility the Japanese retail FX market has come back with a vengeance, with some of Japan’s leading retail FX brokers setting volume records during the first three months of this year.