OANDA Securities Stops Downloads for fxTrade's Desktop Version, Raises Margin Rates for USD/JPY

OANDA Securities, the Japanese unit of the global leading online multi-asset broker OANDA which rebranded from OANDA Japan in October 2022, has stopped new downloads of the desktop version of its fxTrade trading platform on Friday, while announcing the change in the margin rate for the USD/JPY currency pair for corporate accounts.

The company stated in its website: "From now on, fxTrade can be used in web browser, mobile app and tablet versions", noting that clients who have already downloaded the desktop version of fxTrade can continue to use it normally.

In addition, OANDA Securities also pointed out that traders can access fxTrade through the desktop version of TradingView, a professional charting and trading platform.

Meanwhile, the Japanese subsidiary also issued a notice of changes in the margin rate for USD/JPY, raising from the previous 2% to 2.2%, effective January 30, 2023. The broker explained that the change only affects its corporate accounts on the Tokyo server and NY server.

The broker warned in the statement: "Customers holding positions in the corresponding currency pair will be subject to a loss cut due to changes in the margin rate if they continue to hold positions after the market closes on January 27, 2023." It is suggested for traders to "reduce your position in advance or have enough money in your account".

OANDA Securities previously changed margin rates for some other currency pairs, including raising the margin rates for NZD/USD and AUD/USD​ from 2% to 3% last month. In last October, the margin rates for USD/SEK​ had also been increased from 2% to 3%, while its GBP/JPY and GBP/USD​ trading pairs' margin rates were hiked from the level of 2% to 3.3%.

The rate changes for the above currency pairs only applied tocorporate accounts on OANDA's Tokyo and New York servers.