Rakuten Securities to add EUR/AUD and GBP/AUD to Forex offering
Japanese online trading company Rakuten Securities will add EUR/AUD and GBP/AUD to its Forex offering. The new FX pairs are set to be available to trade via Rakuten FX and Rakuten MT4 from Monday, April 4, 2022.
The broker explains that the additions reflect numerous requests from traders. With these additions, the number of supported currency pairs by Rakuten FX rises to 28 currency pairs. For Rakuten MT4 the number is 24.
The pairs will be available to trade for individual and corporate customers. The targeted spreads are 1.5 pips for EUR/AUD and 1.6 pips for GBP/AUD.
The minimum transaction amount is 1,000 units. The margin requirement is about 5,000 yen for for 1,000 units of EUR/AUD and about 6,000 yen for 1,000 units of GBP/AUD.
Margin rates for corporate customers are reviewed weekly. The revised margin rate will also be applied to the open interest you have at that time, so a change in the margin rate may trigger a loss cut.
Normally, clients of the broker can trade with the above-mentioned spread, but the spreads may widen in situations such as a decline in trading volume in the foreign exchange market or a concentration of trading in one direction. Spread widening may occur in certain situations, such as early morning on weekdays, holidays, before and after the announcement of major economic indicators.
Rakuten has been regularly expanding its offering of trading instruments. In February, for instance, it added 200 foreign stocks to its lineup of trading instruments. The additions include the stocks of 100 companies listed on US exchanges and the stocks of 100 companies listed on the Hong Kong exchange.
The new instruments include the shares of KLX Energy Services Holdings (KLXE), which provides oilfield services to oil and gas exploration and production companies, and Vigil Neuroscience (VIGL), a US-based biotechnology company. The broker will also add the stocks of JLMAG, a producer of rare earth permanent magnets.