Rakuten HK Accepts New Open Positions in TRY/JPY Again

Rakuten Securities Hong Kong Ltd (Rakuten HK), a subsidiary of Rakuten Securities, Inc. which is one of the three largest forex brokers in the world, has resumed accepting new open positions in TRY/JPY on its award-winning online forex trading platform - Rakuten FX again from 28th June, 2021 (Market Open).

The platform notes that:

• Gross buy and sell amount of entry order and open positions of TRY/JPY will be up to 3 million;

• ​Initial margin for TRY/JPY will be changed from 5% to 10%.

In July 2020, Rakuten HK alleged the unstable situation in TRY, which has resulted in excessively low liquidity and extremely wide spread on its related currency pairs. Hence, the firm stopped accepting new open positions and only accepted close positions.

In May, as Fazzaco reported, Rakuten HK has terminated its services to provide Trading Station II (TSII).​