Rakuten Securities to stop offering DailyFX Japan services

Rakuten Securities, the brokerage arm of Rakuten Inc (TYO:4755), which earlier this year took over FXCM Japan, has decided to terminate the offer of DailyFX Japan services to its clients.

The service will no longer be available from December 18, 2015. Rakuten reiterates that its clients can make use of other market research & analysis services it offers.

Rakuten Securities agreed to pay $62 million to acquire the Japanese operations of US Forex broker FXCM Inc (NYSE:FXCM) in March this year, with the transaction successfully completed on April 1, 2015. The deal was important for the efforts of FXCM Inc to raise cash to repay the $300 million loan extended by Leucadia National Corp. (NYSE:LUK) in the wake of “Black Thursday” events.

As FXCM Japan has been integrated into Rakuten Securities, its clients saw a raft of changes regarding the service and product offering. For instance, on July 24, 2015, FXCM Japan officially discontinued support of social trading platform Mirror Trader.

You can view the announcement on DailyFX Japan’s website by clicking here.

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