Melbourne-based broker, ThinkMarkets is officially launching its trading services in Japan as its global expansion plans continue to accelerate.
The multi-regulated platform said it will roll out its offering into the world’s largest FX market via its proprietary mobile app ThinkTrader.
The move comes barely one year after ThinkMarkets acquired the Japanese FX firm, Japan Affiliate. This announcement coincided with the opening of ThinkMarkets’ Tokyo office.
Although ThinkMarkets have regulations in many other jurisdictions, this was not sufficient as no such passports are recognized, and FX brokers need to obtain JFSA authorization to do business in Japan.
Based in Tokyo and licensed by the Financial Services Agency (JFSA), Japan Affiliate is holding a Type 1 Financial Instruments Business Operator license.
Commenting on the news, Nauman Anees, Co-Founder and CEO of ThinkMarkets said: “Tokyo is one of the world’s largest foreign exchange trading hubs, so the expansion of our brokerage services offering with the addition of FX in Japan. Our trading app ThinkTrader is a unique proposition for the Japanese market. With its streamlined user interface, sophisticated charting capabilities and ultrafast execution speeds, we are confident we will meet the high expectations of clients in Japan.”
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“Coupled with our exceptional customer support, our proprietary technology enables us to scale our offering into new markets quickly and efficiently. We couldn’t be more excited to welcome new our new clients in Japan to the ThinkMarkets trading family” added Mr. Anees.
ThinkMarkets Japanese office CEO, Koike Kazuhiro, added: “We are very proud to start our business in the Japanese market, which has one of the most rigorous and well-regulated financial systems in the world. I hope that we can contribute to the revitalization of the Japanese capital market by leveraging the strengths of our group.”
Back in 2017, ThinkMarkets acquired mobile app provider, Trade Interceptor. Since then, the company has been refocusing its objective with a mobile-centric approach, with ThinkMarkets seeing a solid uptick in the number of transactions placed on mobile devices.
Japanese markets are known as cutthroat in terms of competition and spreads, which inherently places a disadvantage on retail brokers. In addition, the maximum leverage for retail traders is limited to 1:25 and 1:100 for institutional clients. There are so many restrictions on using certain trading strategies like hedging, arbitrage, scalping and EAs.
Earlier in February, ThinkMarkets raised $30 million in fresh capital, provided by Mars Growth, a Liquidity Group and MUFG joint venture fund. This facility was completed using Liquidity Group’s artificial intelligence platform, Liquidity Analytics, and was introduced to ThinkMarkets by Singapore-based ARC Investments.