General Information
Rakuten Securities Australia (RSA) is an index, metals, and CFD broker based in Tokyo, Japan, and is one of the major online traders in Japan, aiming to provide traders with competitive spreads, excellent customer service, and has over 2.6 million customers to date.
Regulatory Details
Rakuten Securities has three entities regulated in Australia, Japan and Hong Kong:
RAKUTEN SECURITIES AUSTRALIA PTY LTD authorized and regulated by the Australia Securities & Investment Commission, with Regulatory License: 418036
Rakuten Securities, Inc., authorized and regulated by the Financial Services Agency (FSA) in Japan, with regulatory License: 5010701021660
Rakuten Securities Hong Kong Limited is authorized or authorized by SFC, with regulatory license: AIM232
Pros & Cons
Some advantages and disadvantages of Rakuten Securities are listed below:
Market Instruments
Rakuten Securities provides traders with popular financial tradable instruments, mainly popular Forex currency pairs, gold, silver, and index CFDs.
Account Types
In total, you can open one of four distinct accounts with Rakuten Securities. The Retail Account, the Pro 1 Account, the Pro 2 Account, and the Pro VIP Account. People interested in opening a forex trading account must first complete the registration process. When you apply for an account with Rakuten Securities, you'll be asked a series of questions designed to provide the broker all the information they need to get started.
A Professional account is also available. Active traders with previous expertise in the foreign exchange market may consider opening a professional account.
How to open an account with Rakuten Securities？
Rakuten Securities account opening is easy and fully digital. The online application takes roughly 10-15 minutes, and the account approval took one business day.
1. Visit the Rakuten Securities website and choose “Start Trading.”Navigate to the Rakuten Securities website's account registration section. This is accessible by clicking the Begin trading link at the top of the landing page.
2. Complete the brief online registration form to apply for a live trading account. You must include your name, title, last name, birthdate, country of residence, nationality, email address, and mobile number.
3. Complete the form by entering the requested address, cell phone number, and postal code.
4. Provide information such as employment status and financial information, and complete a brief questionnaire on your trading experience.
5. Select the swap type for trading as well as the account's currency. Read and accept the disclaimer, then click Next to proceed.
6. Upload a photograph of your passport, driver's license, or national id card, together with your proof of address (within the last 6 months). Additional material can be uploaded to support the application for Rakuten Securities. Click Submit to apply.
Demo Account Available
The Rakuten Securities demo account is funded with virtual currency and given access to the MetaTrader 4 platform. The demo account will include the following capabilities:
l More than 50 products (Forex, Metals, and Indices) tradable
l Real-time spreads, rapid execution, and leverage of up to 30:1 for Retail and 400:1 for Professional clients.
l Demo accounts utilize the identical price feed as our live MT4 platform
l Practice trading with your mobile device and computer
Leverage
Leverage is 1:30 for major currency pairs, 1:20 for minors, 1:10 for commodities, 1:2 for cryptocurrencies, and 1:5 for stocks.
Spreads & Commissions
Rakuten Securities offers tight, commission-free fixed spreads. The broker's pricing originates directly from its headquarters, which has access to an extensive network of top-tier liquidity providers, allowing clients to trade with competitive spreads on the global market. As a result, the average spread for major currency pairs such as EUR/USD is 0.5 pips.
Trading Platform Available
Rakuten Securities offers traders the flexibility to choose from the market-leading and highly acclaimed MT4 trading platform and MT4 for Android, MT4 for iOS, and MT4 for Windows. MT4 is the ideal platform for the forex trading industry, with an intuitive user-friendly interface, robust data analysis, and technical indicator tools. MT4 allows traders of all levels to develop appropriate trading strategies to help them get ahead in the financial markets. Rakuten Securities offers a social trading service through MyFXBook, a third-party service provider. This service allows traders to copy others' trades.
Deposit and withdrawal
Rakuten Securities welcomes various convenient deposit and withdrawal methods, mainly NAB (domestic and international wire transfers), VISA, MASTERCARD credit/debit cards, NETELLER, Skrill, wire transfers. Traders who withdraw funds via NETELLER & Skrill are subject to a 2% fee.
Regarding deposit currencies, you can add funds to your account using the US dollar (USD), the Australian dollar (AUD), the Euro (EUR), or the British pound (GBP) (GBP). You may open many accounts, each of which can be funded with a different currency. When you fund your account for the first time, you must select one of the four base currencies. Traders who deposit in non-listed currencies, such as ZAR/Rand, may suffer conversion fees.
Customer Support
Customer service is accessible around-the-clock. Supporting live chat, phone lines, and accessibility via several channels, including WhatsApp, makes communication accessible. In addition, Rakuten has earned a strong reputation among other brokers for its superior customer service, which is an additional benefit of its proposal.
2022-11-28 18:54
