Monex to launch tradable in Japan

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Japanese retail broker Monex plans to roll out a localised version of tradable, a trading app platform, by the end of the third quarter, marking the platform's entry into the world's largest retail foreign exchange market.

Officials at tradable say its partnership with the Japanese broker is its most significant announcement to date. Since launching a beta version of the platform in December last year, it has been contracted for use in the UK, mainland Europe and India.

"Japan is a key market for tradable. Industry figures show that 35–40% of the retail FX volume comes from Japan, so our new partnership with Monex marks a key milestone in accelerating our growth and strengthens our position as the ecosystem for trading," says Christian Frahm, executive chairman at tradable in Copenhagen. "We know it has taken over a decade for other trading platforms to have a strong presence in Japan but we always envisioned tradable to be ‘born global'."

The platform enables traders to customise their trading experience by using third-party developed apps that are released on the platform. These include Tweetable, Dealer Inside and Kallita Trend Follower.

Tweetable enables traders to trade directly off of a live twitter stream while Dealer Inside gives traders the latest market rumours from institutional dealing desks. Kallita Trend Follower enables traders to use automated trading strategies.

Monex Incorporated is one of the major online securities brokerages in Japan and the main subsidiary of Monex Group Incorporated in Tokyo. Monex has a client base of 1.3 million traders in Japan and sees average daily volumes of ¥242.26 billion ($2.45 billion) traded in foreign exchange trading.

 

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