29 April AtoZForex, Vilnius — Monex Group reported today through its official the announcement to possibly stop offering its platform Tradable. Marking a quite remarkable decision of the Japanese broker giant. Considering, if the Monex Tradable platform stops the service has only lasted for 2 years. Since Monex decided to terminate its MT4 offering in October 2014.
At the time the President of Monex FX, Toshihiko Katsuya publicly stated that the Japanese broker decided to end its reliance on the popular MT4 platform. Instead, the Japanese broker giant introduced to shift its services to the Tradable platform. Toshihiko Katsuya argued that through deploying Tradable, the Japanese broker is able to enhance the user-friendly experience.
Considering that Tradable offers traders the capability to customize a wide range of options. Some of the platform’s benefits are that traders are able to change the interface, add the favorite apps, use different currency charts and more. A good example is when Tradable launched the Tweetable and Chatbox functions on its platform around last year. Allowing traders to keep track of the ongoing tweets from the experts, they follow and receive news updates direct to the Tradable workspace.
Why Monex Tradable platform stops?
Relating back to the case, today the Japanese broker giant revealed in its official announcement that it will discontinue new transactions on the platform in May. Disclosing a clear hint that the Monex Tradable platform stops. Yet, Monex did not inform the motive behind the decision, nor what the next steps are of the broker.
As traders are now questioning, to which platform will Monex move towards next? The Japanese broker giant stated that soon more details would be released regarding the case.
Declining FX volume in March
Could the last month’s disappointing FX volumes and business metrics be one of the reasons why the Monex Tradable platform stops? As earlier this month, the Monex Group revealed that it recorded its worst month of 2016 so far. In more detail, Monex’s Daily Average Revenue Trades (DARTS) declined to 288,349 in March. Marking a decline since the start of the year.
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