Rakuten Securities Review 2024
Website: www.sec.rakuten.com
Min. Deposit: US$ 50
Leverage: 1:400
Trading Platforms: MT4, Rakuten FX, ZuluTrade
Regulation: ASIC
Headquarters: Tokyo
Founded: 1999
Regulatory Licenses:
- Rakuten Securities Australia Pty Ltd - authorized by ASIC (Australia) registration no. AFSL No. 418036
- Rakuten Securities HK - authorized by SFC (Hong Kong) CE Number: AIM232
Updated on January 8, 2024
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Our comprehensive review process involves a detailed analysis of a wide range of factors to provide an in-depth look into Rakuten Securities. This includes examining their trading platforms, account types, available assets, customer support, educational resources, and much more. We compare Rakuten against 1000 other brokers to give you a clear picture of how it stands in the global market. Our aim is to offer a balanced perspective that helps traders make informed decisions.
Rakuten Securities stands as a prominent online broker, offering financial derivatives such as margin forex and CFDs. With its roots deeply embedded in Japan, it boasts subsidiaries across Australia, Hong Kong, Malaysia, and beyond. Rakuten Securities Australia garners authorization from the Australian Securities and Investments Commission (ASIC), underscoring its reliability. Beyond its financial ventures, Rakuten emerges as a powerhouse in internet services, spanning e-commerce, travel, banking, securities, e-money, marketing, and more. Its global expansion is evident, with operations in Asia, Europe, the Americas, and Oceania. The company's headquarters in Tokyo, Japan, serves as a hub for its widespread operations, including those in Hong Kong, Malaysia, and Australia. Since its inception in 1999, Rakuten Securities has evolved into a substantial brokerage firm, offering a diverse range of trading opportunities and assets.
Rakuten Trading Pros and Cons ▲
Pros
Longstanding operation with an esteemed reputation
Globally recognized and awarded broker
Offers MT4 and proprietary Rakuten FX platforms
Provides excellent support, learning, and research tools suitable for both beginners and professionals
Cons
Trading conditions and offerings may vary by regulation and entity
Limited range of instruments to FX and CFDs
Rakuten Securities is far from being a scam, showcasing a robust regulatory framework that positions it as a low-risk option for trading Forex and CFDs. The broker's heavy regulation by ASIC further attests to its safety and reliability. With a well-established presence, Rakuten is legitimized by various regulatory authorities across its operating regions. In Japan, it's authorized by the Financial Services Agency (FSA Japan) and is a member of both the Financial Futures Association and the Commodity Futures Association. The Hong Kong branch is regulated by the SFC, the Australian entity by ASIC, and the Malaysian branch is monitored by the Securities Commission Malaysia, holding a Capital Markets Services License (CMSL). These layers of regulation and authorization underscore Rakuten's dedication to trader safety and reliability.
Our Ranked Rakuten Trust Score stands at 8.2 out of 10, reflecting the broker's good reputation and years of commendable service. Rakuten's commitment to adhering to top-tier regulatory standards ensures a high level of trader protection.
Rakuten's leverage offerings are shaped by its international presence and adherence to local regulatory standards, resulting in varying levels across its branches. Previously, both the Japanese and Australian entities of Rakuten offered high leverage levels, but regulations have since limited this to a maximum of 1:30. However, other international branches may still provide leverage up to 1:100 on Forex major pairs. While leverage can amplify potential returns, it's crucial for traders to understand its implications fully and use it wisely to manage the balance between potential gains and risks.
Account types
Rakuten Securities offers a streamlined selection of account types, specifically designed to cater to different trading needs and preferences. The two primary account options include the Standard Account and the High Leverage Account. Both account types share several core features; however, they differ significantly in terms of maximum leverage, spread, and the highest number of lots permissible.
To simplify the choice of account types, it is advisable to review the specific conditions and offerings available under the regulatory entity relevant to you, as these may vary.
Rakuten Securities prides itself on its direct pricing technology from the platform. This innovative approach allows the broker to manage larger orders more efficiently and offer more competitive prices to the global markets, operating primarily on a spread basis for fees. Consequently, Rakuten Securities is known for its low forex and CFD trading fees.
Non-trading fees are considered average. Notably, there is no charge for account inactivity, but a fee is applied to withdrawals via international bank transfers and electronic wallets.
The overall fee structure at Rakuten Securities is competitive, with a rating of 8.8 out of 5, according to our comprehensive review process, which included comparisons with over 1000 other brokers. While the broker maintains low to negligible fees, the specific conditions and charges may differ based on jurisdiction.
Rakuten Securities does not impose any commissions on spreads. Notably, spreads are fixed 95% of the time during regular trading hours. However, during periods of low liquidity, spreads may be subject to variation.
In particular, the Australian entity offers two distinct accounts: the Standard, with EUR/USD spreads as low as 0.5 pips, and the High Leverage, with EUR/USD spreads starting at 0.8 pips. Despite the slight increase in spreads for the High Leverage account, Rakuten Securities remains competitive when compared to other brokers in the market.
The spreads offered by Rakuten Securities are highly competitive, earning a rating of 9.0 out of 5 in our analysis. This is particularly noteworthy for Forex trading, where the EUR/USD spread is significantly below the industry average of 1.2 pips. Furthermore, the spreads for other trading instruments are equally attractive, reinforcing Rakuten Securities' position as a cost-effective trading platform.
As a client of Rakuten, you have the liberty to fund your trading account using multiple currencies such as AUD, USD, EUR, and GBP. Furthermore, you are given the choice to select your base currency and even maintain multiple accounts. The funding methods for Rakuten have been rated as Excellent, with a score of 4.0 out of 5. The broker requires a minimum deposit that aligns with industry standards, imposing minimal to no fees. However, it's important to note that the minimum deposit requirement may differ based on jurisdiction.
Here are some of the key points regarding Rakuten's funding methods:
Pros
Multiple currency options for account funding
A broad selection of deposit methods including bank transfers, ewallets like Neteller and Skrill, credit/debit cards, Amex, and Bitcoin through ewallets
No fees for domestic transfers
Cons
International transaction fees from banks on certain payment methods
The minimum deposit at Rakuten stands at $50, making it accessible for traders of any size. It's advisable to check with the broker to ensure all margin requirements are met for the trading instruments you intend to use. Withdrawals at Rakuten are processed using the same methods as deposits, though fees may vary, with e-wallets like Neteller and Skrill imposing a 2% fee.
Rakuten provides its clients with several trading platforms, including the well-known MetaTrader 4 (MT4) and Rakuten FX, with offerings that might vary between entities. These platforms have been ranked Excellent, achieving a score of 4.5 out of 5 when compared to over 1000 other brokers. The inclusion of MT4, known for its comprehensive research and excellent tools, is particularly noteworthy.
Pros
Availability of industrystandard platforms like MT4
Powerful analysis tools and customizable interface
Supports desktop, web, and mobile platforms across various devices
Cons
Differences in platform offerings between entities
Rakuten's customer support is accessible 24/5, offering live chat, phone lines, and even WhatsApp for easy communication. It stands out for its quality service, earning a score of 4.4 out of 5. However, the absence of weekend support is a point of consideration.
Pros
Wide range of communication channels including WhatsApp
Responsive and relevant support
Cons
Not available on weekends
Rakuten offers a wealth of educational resources suitable for both beginners and experienced traders. These include technical analysis support, educational courses, webinars, and videos in multiple languages. The broker's emphasis on education is reflected in its score of 4.5 out of 5.
Pros
Comprehensive educational materials and research
Free access to a demo account for practice trading
Cons
None
Our comprehensive review concludes that Rakuten is a highly professional and continually improving broker. Its offerings are vast, including various account types, spread options, trading platforms, and advanced tools, making Rakuten a reliable choice for traders. Attention should be paid to specific conditions that may apply based on the trader's country of residence and the Rakuten branch they are dealing with. Rakuten is recommended for professional and advanced traders, those who prefer MT4, and individuals interested in currency and CFD trading, among others. Its strengths in research, support for various trading strategies, and educational resources make it a standout choice in the forex broker landscape.
