Japanese Forex Broker DMM Securities Opens an Office in Australia
Just last week we shared with you that the Japanese forex broker Invast Securities is opening an office in Australia, and now another major broker from the land of the rising sun is following this example. DMM Securities is setting for the rise of its Australian subsidiary, DMM FX.
The company has already set up a website for its Australian operations, dmmfx.com.au, however it is still not accepting customers, possibly awaiting its official authorization. The company is already listed on the registry of the Australian Securities & Investment Commission (ASIC) as DMM FX Australia PTY Limited, however it seems not to have obtained a license yet. A date for the launch has not been announced yet but rumor has it we can expect this to happen in August.
When it starts accepting clients, DMM FX will be offering forex, CFD and binary options trading.
For currency trading the brokerage promises tight floating spreads and leverage of up to 1:200. US, Australian and New Zealand dollars will all be supported as base account currencies, and the requirement for minimum initial deposit will be set at 500 base currency units.
The maximum leverage for CFD trading will be the same, 1:200, and the selection offered is supposed to include a large variety of underlying assets, including Gold and indices.
Binary options will be offered in their High/Low variety, and with expiry timeframes ranging from one to three minutes.
CFD and forex trading will be conducted through the Metatrader 4 (MT4) platform, the most common platform in the forex industry worldwide. Expert advisors (EAs) will be supported for automated trading, and a web trader will be available for those who can't or don't want to use the downloadable version of the platform. Binary options will be accessible through a designated web trader. Android, iPhone and iPad apps will also be supported.
Regulated by the FSA, DMM Securities seems to be doing quite well in Japan – just in June the brokerage reported trading volumes of over $1 trillion. These numbers are just the cherry on top of the cake, as the company has been reporting consistent growth over the past few years. Last year the company acquired another Japanese broker - Gaitame Japan Co. LTD, which gave it another significant boost.
Japanese traders have access to the market maker's proprietary Simple Trade and PRO TRADE trading platforms, which also come in web and mobile versions and it is possible that we see these offered by DMM FX Australia as well in the future.
More info about DMM FX go to www.dmmfx.com or www.dmmfx.com.au
