Rakuten Securities Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?
Rakuten - Japanese broker that usually looks out for large institutional investors.
Yes, this broker's official website and app are legit, safe and trustworthy for UAE citizens and residents.
Rakuten Securities UAE has decent reviews on Reddit and Quora, including satisfactory ratings on sites like Trustpilot. Thus, overall this broker is considered reliable for online trading of currencies, cryptocurrencies, CFDs and stocks.
Rakuten Securities is a forex and CFD broker located in Australia that was
established in 1999 by a group of investors.
It is deemed safe since it is regulated by the top-tier Australian Securities and Investments Commission (ASIC), has a lengthy track record, and has a solid parent business. Rakuten Securities is a subsidiary of Rakuten Inc.
Rakuten Securities does not impose an inactivity fee, and creating an account is a simple and quick process. In addition, the mobile platform is excellent, user-friendly, and well-designed, which is a bonus.
A disadvantage is that the company provides a restricted variety of goods, which includes just forex and a few contracts for difference (CFDs). There is no web-based trading platform, and customer service is lacking, since it can only be reached by email.
Rakuten Securities offers competitive forex and CFD trading commissions. In addition to the lack of an inactivity fee, non-trading costs are on the average side; nonetheless, a withdrawal fee is levied on international bank transfers and electronic wallets.
Trading costs at Rakuten Securities are reasonable.
We understand that comparing trading costs amongst forex brokers may be quite difficult. Describe your solution to the difficulty of making their fees understandable and comparable. We evaluate brokers by calculating all of the costs associated with a typical transaction for a variety of different goods.
A typical transaction is purchasing a leveraged product, hanging onto it for one week, and then selling the goods. We picked a $20,000 position in forex and a $2,000 stake in stock index and stock CFD operations to account for the volume.
Spreads, commissions, and financing expenses are all included in this catch-all benchmark fees, which apply to all brokers. Let's wait and see what happens with the Rakuten Securities fees.
CFD costs at Rakuten Securities are reasonable.
Non-trading costs at Rakuten Securities are on the average. There are no fees for idleness, account maintenance, or deposits.
On the other hand, withdrawal fees for international bank transfers and electronic wallets are quite hefty. When utilising e-wallets such as Skrill or Neteller, you will be charged a fee of $25 for an international bank transfer and a fee of 2 percent of the amount withdrawn.
When you establish an account with Rakuten Securities, the process is simple and completely digital. Our account was authorised in only one day, which is a testament to how quickly it processes transactions.
The minimum deposit amount needed by Rakuten Securities is $50. A minimum balance of $1,000 in your account is necessary in order to use the copy trading service.
Rakuten Securities has a variety of account options to select from, including:
- Person Standard: The account is held by a single individual.
- Islamic Account, also known as a Swap-free Account, is a kind of bank account maintained by a Muslim person. If you retain your leveraged position overnight at these accounts, you will be paid a flat fee rather than a percentage-based financing rate as you would at other accounts.
Account held by a legal body is referred to as a corporate account.
The process of creating a Rakuten Securities account is simple and entirely digital. After completing the online application, it takes around 10-15 minutes, and the account is approved within one business day.
- In order to create an account with Rakuten Securities, you must complete the following steps:
- Fill out the form with your personal information, such as your email address and date of birth.
- Fill up the blanks with your residence and job information.
- Fill out a form to provide feedback on your trading experience.
Select the account type, leverage, and base currency from the drop-down menu.
- Upload a copy of your passport or identification card, as well as a bank statement or utility bill, to prove your identity and residence. If you pick an Islamic account, you will be required to provide proof of your Islamic beliefs.
Rakuten Securities does not impose any deposit fees, and the procedure is simple and straightforward, with the option of using electronic wallets. Bank cards, on the other hand, are not accepted, and withdrawals are both sluggish and costly.
Rakuten Securities offers four different base currencies to pick from: the US dollar, the euro, the pound sterling, and the Australian dollar.
What is the significance of this? There are two explanations for this. A conversion fee is not charged if you fund your trading account with the same currency as your bank account or trade assets in the same currency as your trading account base currency.
Opening a multi-currency bank account with a digital bank is a handy method to save money on currency conversion costs, and it is also free. International bank transfers are normally free or inexpensive when using these services, which often include bank accounts in various currencies with favourable currency conversion rates. When using your phone, creating an account takes only a few minutes.
Rakuten Securities does not charge any fees for deposits. International transfers, on the other hand, may incur additional fees at your bank.
For the deposit payment, you may utilise bank transfers or various electronic wallets, such as Neteller, Skrill, and China UnionPay, to make the transaction.
It is possible to deposit funds instantaneously if you have a bank account with a major bank in Malaysia, Thailand, or Indonesia, or if you use an electronic wallet.
Withdrawals are free inside Australia, however there is a $25 withdrawal charge if you use an international bank transfer to make your withdrawal. Withdrawals made using Skrill and Neteller are charged a fee of 2 percent of the entire amount transferred.
Can you tell me how long it takes to get your money out of Rakuten Securities? In our testing, we discovered that the bank transfer withdrawal took more than 3 working days to complete.
You may only make withdrawals from accounts that are in your name.
What is the procedure for withdrawing money from Rakuten Securities? Take the actions outlined below.
Transfer money from your Rakuten account (also known as Standard) to your Rakuten wallet (also known as Rakuten wallet).
Choose the method of withdrawal that you wish to employ.
Input the amount of the withdrawal as well as the explanation for the withdrawal.
To begin the withdrawal process, click here.
You are unable to withdraw more money from Skrill or Neteller than you have deposited using these services. For example, if you deposit $100 using these methods, you will only be able to withdraw a maximum of $100.
Rakuten Securities does not provide a web-based trading platform; instead, it exclusively provides mobile and desktop trading platforms for its customers. This is odd for an internet broker, to say the least.
In the shape of MetaTrader 4, Rakuten Securities offers a competent, well-designed, and user-friendly mobile trading platform to its customers. On the negative side, it does not have a two-step authentication process for further security.
Rakuten Securities does not have its own proprietary trading platform; instead, it relies on MetaTrader 4, which is provided by a third-party. MetaTrader 4 is a trading platform that is accessible for both iOS and Android. We put it through its paces on Android.
The MT4 mobile trading platform must be accessed using the following MT4 server once it has been downloaded: RakutenSecuritiesAustralia-live.
On the mobile trading platform, you have the option of selecting from a variety of languages. On Android devices, changing the language is a little more difficult since you have to change the default language of your mobile device.
In our opinion, Rakuten Securities provides a solid mobile trading platform; we particularly enjoyed the design and user-friendliness of the platform. You will have no trouble locating all of the functions you need.
Rakuten Securities only allows for a single-step login process. A two-step login process would be more secure.
You will not be able to utilise fingerprint or Face ID identification. It would be more convenient if this functionality were available.
The search functions are really effective. You may search for a product by putting the name of the item into the search box or by browsing through the category folders. For example, there are multiple separate currency folders, which makes the classification of the assets a little complicated.
On the Rakuten Securities mobile platform, you are unable to configure alerts and notifications. You may, on the other hand, configure mobile push alerts on the desktop trading platform. Having the ability to set these alerts inside the mobile platform will make things a whole lot simpler.
Rakuten Securities makes use of the MetaTrader desktop trading platform, which is extremely customisable and includes features such as a transparent charge report and price notifications, among other things. However, it does not support two-factor authentication, and its design is out of date.
In the same way that the mobile trading platform is given by a third party, the desktop trading platform is provided by MetaTrader 4.
MetaTrader 4 is available in a staggering number of languages, including the following:
The desktop trading interface offered by Rakuten Securities is quite customizable. Changes may be made to the size and placement of the tabs with relative ease.
However, the platform seems to be out of current, and several functions are difficult to locate. For example, it took some time before we figured out how to add a particular asset to a watchlist of assets.
Rakuten Securities only allows for a single-step login process. It would be more secure to use two-step authentication.
On the mobile trading platform, you may use the same order types (with trailing stop as an extra option) and order time limitations as you would on the desktop platform.
You have the option of setting alerts and notifications to be sent through email, a push notice to mobile devices, or a notification on the desktop platform, among other options.
In order to get email or mobile alerts, you must provide your email address as well as your mobile MetaQuotes ID (which can be found in the MT4 app's settings). This may be accomplished by selecting 'Tools' and then 'Options.'
Rakuten Securities provides easy-to-understand portfolio and fee information. You can quickly determine your profit and loss balance, as well as the commissions you have paid. These reports may be obtained under the 'Account History' tab: just right click on a position and choose 'Save as Detailed Report' from the drop-down menu that appears.
Rakuten Securities only allows you to trade a limited number of FX pairs, CFDs, and cryptocurrencies. A large number of popular asset classes, such as equities, exchange-traded funds, and mutual funds, are not accessible.
Rakuten Securities is a forex broker that also sells a limited number of contracts for difference (CFDs).
Rakuten Securities offers a limited range of products available. Only forex, stock index CFDs, and commodities CFDs are available for trading. Stock CFDs, bond CFDs, and cryptocurrency CFDs are not available with this broker. In comparison to the (also restricted) product portfolios of comparable rivals, this selection performs dismally.
When you create your account, you have the option of selecting one of two maximum leverage levels: 100:1 or 400:1. Because Rakuten Securities is regulated in Australia, these maximum limits are much higher than those in the European Union.
It is not possible to adjust the default leverage level of any of the products. We believe this is a significant negative point, since you should be able to adjust the leverage to suit your needs and tastes. Manually changing the leverage of a transaction is a very handy function when you wish to reduce the risk associated with your trade. For example, instead of trading with a 5:1 leverage ratio in the case of stock CFDs, you may lower your risk by trading with just a 2:1 leverage ratio.
Through MyFXBook, a third-party service provider, Rakuten Securities provides a social trading service for its customers. This service enables you to duplicate the deals of others.
The research tools accessible at Rakuten Securities might be much improved: some trade ideas are available, but many of them are out of date. It is also lacking in fundamental information, and the news stream is of poor quality.
The website of Rakuten Securities offers trading suggestions based on technical analysis, although it seems that they have not been updated in some months. Furthermore, the suggestions are only accessible for a small number of carefully chosen items. The fact that the research tools are located on the website rather than the desktop trading platform makes navigation a little more difficult.
Rakuten Securities does not provide any fundamental information on the assets it trades.
A lot like with the desktop trading platform, the charting tools are adequate, but not remarkable in their capabilities.
Along with other editing tools, such as trendlines and Fibonacci retracement, you may employ 31 technical indicators to help you make decisions. Unfortunately, the design is out of date, and some of the functions are difficult to navigate. In one instance, we had trouble figuring out how to delete an indication from a chart on the fly.
In contrast to the desktop trading platform, there is no news feed on the desktop trading platform.
However, the website only provides daily market updates that are limited in scope and out of date, with many being several months old at the time of publication.
Rakuten Securities' customer care responds to email inquiries in a timely and appropriate manner. However, live chat and phone help are sluggish and poor, and they are not accessible 24 hours a day, seven days a week.
In our experience, Rakuten Securities' live chat and phone assistance are both sluggish, and we got irrelevant responses on both channels. Email customer support, on the other hand, worked great for us since we received timely and appropriate responses.
We were disappointed in the lack of 24-hour access. Additionally, we were unable to locate information on which time zones customer assistance is accessible.
For the purpose of education, Rakuten Securities provides high-quality instructional manuals, webinars, and a demo account. There are no instructional videos or other materials accessible, on the other hand.
Rakuten provides learning opportunities via articles, seminars, and the use of a sample account.
You may create a demo account by giving some personal information and choosing the base currency, leverage, and balance options from the drop-down menu.
Rakuten Securities also has a 'Learn' section on their website, although no information has been added to it at this time.
Rakuten Securities is a publicly traded corporation whose parent company is governed by a top-tier regulatory organisation. On the negative side, it does not offer protection for investors or against negative balances.
Is Rakuten Securities subject to regulation? Yes, it is controlled by the Australian Securities and Investments Commission, which is considered to be one of the top-tier regulators in the world (ASIC).
Is Rakuten Securities a secure company? To be assured that a brokerage is secure, we strongly encourage you to look into the following two factors:
The extent of investor protection varies from business to entity and may be very different across various geographical regions. It is governed by the Australian Securities and Investments Commission, which regulates Rakuten Securities (ASIC). Due to the fact that ASIC does not oblige Australian brokers to give any monetary investor protection, you should exercise caution since your investment will not be safeguarded in any way!
Furthermore, Rakuten Securities does not give negative balance protection, which means that you may lose more money than you initially placed with them.
On the other side, the broker's history is quite important, since a solid parent firm lessens the likelihood that the company would go out of business, and we have some positive news in this regard as well.
It is owned by Rakuten, one of Japan's biggest holding corporations, which is publicly traded on the Tokyo Stock Exchange. Rakuten Securities is part of the Rakuten Group. This is encouraging since publicly traded corporations are subjected to more scrutiny than private companies and are required to submit financial statements on a more frequent and transparent basis.
Known as Rakuten Bank, the Rakuten Holding Group is a legal organisation that holds a banking licence on behalf of the Rakuten Corporation. Companies with banking licences, on the other hand, are subject to stricter rules than brokers, which is a positive indicator for consumer protection.
When Rakuten Securities was founded in 1999, it was a pioneer in the online brokerage industry. The longer a broker's track record has been in operation, the more evidence we have that the broker has successfully navigated through prior financial crises.
Regulation by the Australian Securities and Investments Commission (ASIC) and having a solid parent business are all positive indicators for the safety of Rakuten Securities.
Rakuten Securities Australia Pty Ltd (ACN 153 803 804) is a properly approved supplier of trading services in margin FX, indices, and metals on the Australian Securities Exchange. In Australia, Rakuten Securities is regulated by the Australian Securities and Investments Commission (ASIC), and it has an Australia Financial Services License (AFSL) with the number 418036. Specifically, all private client monies are held in segregated bank accounts in accordance with ASIC requirements, and the company's operations completely comply with these regulations. Rakuten Securities Australia not only complies with ASIC standards, but also goes above and above the requirements set out by the regulator. Customer monies are kept completely separate from the firm's operating finances and are maintained in trust or segregated client bank accounts, according to company policy.
Suite 5, Level 9, 3 Spring Street, Sydney NSW 2000, Australia is the address for the office.
Rakuten Securities Japan is a company that has been approved by the Financial Services Agency (FSA) (Japan)
Rakuten Securities Australia Pty Ltd is a company registered with the Australian Securities and Investments Commission (ASIC) under the AFSL No. 418036.
Rakuten Securities Hong Kong Limited is a Hong Kong-based company approved by the SFC (Hong Kong) with registration number AIM232.
CMSL has allowed the use of Rakuten Trade (Malaysia).
Rakuten trade name, which is a well-known broker, is a part of Rakuten Inc., one of the world's top online services firms with operations in e-commerce, travel, banking, securities, e-money, marketing, and other areas. Rakuten Inc. is headquartered in Tokyo, Japan.
The Rakuten Group is growing its activities around the world, with offices in Asia, Europe, the Americas, and Oceania now in operation.
With its headquarters in Tokyo, Japan and branches in Hong Kong, Malaysia, and Australia, the corporation has a worldwide presence. While the financial services company Rakuten Securities first opened its doors in 1999, it has evolved into a significant brokerage business with a broad selection of trading options and assets to choose from.
Since then and till today, Rakuten has established itself as one of the leading online brokers in Japan and across Asia, serving more than 2.6 million customers. Additionally, the organisation is always improving its structure to include even more opportunities to provide and a larger range of options for investors, which is always a positive development. As a result, in 2016, the broker formed a partnership with FXCM and then purchased FXCM Asia ltd.
In addition to its long history and great reputation, Rakuten is a globally known and award-winning broker that offers MT4 and proprietary Rakuten FX platforms, as well as superb support, learning, and research tools that are suitable for both beginners and experts alike.
Cons: Trading terms and conditions, as well as the trading offering itself, may differ depending on the jurisdiction and company.
Rakuten is currently a worldwide broker, with widespread international recognition, multiple honours and successes, as well as being well-known for its sponsorships and social initiatives, which it executes as a partner in the sports and entertainment industries, among other things. The word Rakuten may also be seen on the t-shirts of the world-famous FC Barcelona, since Rakuten is a recognised primary Global partner of the squad, as well.
Rakuten is tightly regulated by a number of top-tier agencies, including the Australian Securities and Investments Commission (ASIC), the Singapore Financial Services Commission (SFC), and the Japan Financial Services Authority (JFSA). Because of Rakuten's strict restrictions, trading forex and CFDs with them is low-risk.
Is Rakuten a legitimate company? Yes, Rakuten is completely legitimate, regulated, and permitted for all of the companies it conducts and services it provides across the globe.
The head office of Rakuten Securities, which is responsible for trading activity and proposal, is located in Japan and is authorised by the local Financial Services Agency (FSA Japan). Rakuten Securities is also a member of the Financial Futures Association and the Commodity Futures Association, as well as the International Futures Association.
The SFC approved and regulated the Hong Kong branch, RSHK, whereas the recognised Australian regulator, ASIC, controlled the Australian firm, RSA. Besides that, the Malaysian branch is limited by the Securities Commission Malaysia and possesses a Capital Markets Services Licence, among other things (CMSL).
What safeguards do you have in place? The above-mentioned range of rules and authorizations assures that Broker is dependable and that all activities are carried out in accordance with the applicable regulatory requirements and guidelines. This guarantees a trustworthy investment solution, while customers are safeguarded in a variety of methods, including money segregation regulations and other controls that are reviewed by the authorities, ensuring that you are receiving clear terms and circumstances.
The fact that Rakuten is an international broker that operates in several jurisdictions and is licenced by multiple authorities means that different branches of the company may provide varying amounts of leverage.
While Rakuten's Japanese and Australian businesses continue to provide very high leverage on foreign exchange (up to 1:500), the company's European and American entities have reduced their leverage to 1:100.
The other foreign branches may be able to provide a maximum of 1:100 on the main currency pairings.
Of course, leverage provides a substantial advantage; but, it is important to understand how leverage works and how to utilise it wisely, as a leveraged or increased trading size may play a large part in your possible revenue or losses as well.
We will use the Australian offering of Rakuten Review as a point of comparison, where two account kinds are available: Standard Account and High Leverage Account, respectively. The circumstances are identical, with the only variation being the maximum leverage, spread, and number of lots that may be traded at a time.
So, in order to avoid confusion about account types possibilities, double-check with the pertinent institution to see which account types are available to you, since the terms and offers may differ from one regulatory body to the other.
The items available, according to our Rakuten Review, include stocks, commodities, bonds, investment trusts, exchange-traded funds (ETFs), foreign exchange, and contract for difference (CFDs).
Rakuten employs pricing technology that is sourced straight from the Tokyo platform, since this option enables the company to leverage bigger orders and deliver better rates to worldwide markets while still charging a spread basis charge for the service.
Rakuten does not charge any commissions on spreads, and the spread is set in 95 percent of cases during normal business hours, with the remaining 5 percent of cases subject to variation owing to low liquidity conditions.
Another point to mention is that, as we saw in the Australian proposal, there are two accounts with Standard EUR USD 0.5 pip and High leverage EUR USD 0.8 pip conditions, where the last one will have a slightly higher spread but will still be competitive when compared to other market proposals.
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Rakuten clients have the option of choosing and funding a trading account using a variety of various currencies, generally AUD, USD, EUR, and GBP, while still having the option of choosing which base currency to use and even having numerous accounts.
There are widely approved methods and payment alternatives that may change depending on the location, but which commonly include: local and international bank wire transfers, e-wallet options, and credit card processing possibilities. Neteller, Skrill, ChinaUnion Pay, credit or debit cards, American Express, and Bitcoin may all be purchased via e-wallets.
The minimum deposit amount at Rakuten is 50 dollars, allowing traders of any size to participate in trading with Rakuten without difficulty. Consult with your broker, however, to ensure that you have enough funds to cover all of the appropriate margins for the trading instrument you are using.
Deposits made through domestic transfers are free of charge; however, banks may charge international transaction fees for deposits made through other payment methods.
In addition to the same deposit ways as deposits, Rakuten withdrawals are performed using standard bank wire and credit card methods, with the charge for each method varying from one to the next, with Neteller and Skrill charging a 2 percent fee and PayPal charging no fee. However, you should double-check financing ways with your Rakuten company since different locations may have somewhat different payment terms and conditions.
Rakuten's branching structure allows them to provide its customers with a variety of platforms, which may result in certain variations across the different organisations.
For its trading platform, Rakuten Australia uses the well-known MetaTrader4 platform, which, in addition to its excellent performance, provides for price analysis via a bevvy of charts, technical tools, as well as a highly configurable interface and modular approach.
Rakuten FX trading platform, which provides services to Hong Kong entities, is another platform solution. It is a straightforward software with robust functionality, and its AS Streaming trading function allows for faster order execution at lower trading costs thanks to a tight fixed spread and no additional fees.
The investment is specified at a pre-set preferred trading lot size, auto copy notice, and real-time account reports are also accessible through desktop, online, and mobile platforms, therefore supporting all of the devices available today.
The Malaysian package also includes access to the market platform, which is provided by iSPEED.
My trading app or web-based trading screen, which offers a more effective method to handle trading operations from an online account, is available for download.
The mobile platform includes support for Android and iOS, as well as a complete set of trading orders, technical indicators, and market analysis.
In addition to live chat, phone lines, and being approachable via numerous means like WhatsApp, customer service is available around the clock. This makes communication convenient. Furthermore, Rakuten has earned a favourable reputation among other brokers for providing high-quality customer service, which is still another advantage of its offering.
Beginning traders, as well as more experienced traders, can benefit from educational resources and materials, which include powerful technical analysis support, coverage of important topics via Education courses, regularly held Webinars, and videos, which are also available in a variety of languages to make learning more effective for everyone.
You may practise trading in a risk-free Demo Account at any time by signing up for a free account and testing strategies or Rakuten conditions.
Final thoughts on Rakuten Review: the broker offers professional services and is always developing their product, which is a positive development. Investors and traders will find the overall package on offer to be extremely comprehensive, as evidenced by the number of account types, fixed or floating spreads, trading platforms, and availability of progressive tools available. Overall, Rakuten is regarded as a dependable and extremely attractive broker with which to conduct business. You should only be concerned with checking the required facts owing to his or her own nation of residency and the branch under which he or she will be trading, since the conditions may alter significantly depending on which country they are from.
In addition to its operations in Asia, Europe, North America, and Oceania, the Rakuten Group is also growing internationally. Rakuten Securities began providing financial services in 1999 and has since developed into a significant brokerage business offering a diverse variety of products, including equities, commodities, bonds, mutual funds, exchange-traded funds, forex, and contract for difference (CFDs). The company's headquarters are in Tokyo, Japan, with offices in Hong Kong, Malaysia, and Australia as well as other locations.
Since then, Rakuten has grown to become one of the major online brokers in Japan and across Asia, with more than 2.6 million customers served to date. In addition, the company is constantly refining its organisational structure to provide even more opportunities for traders and investors to participate. Consequently, the broker joined forces with FXCM in 2016, and then purchased FXCM Asia Ltd. in 2017.
Rakuten Securities – Is it a properly licenced broker? Financial authorities in a number of jurisdictions have strictly regulated Rakuten Broker in terms of regulation and licences. Founded in Japan and regulated by the country's financial services agency (FSA), it is also a member of the Financial Futures Association and the Commodity Futures Association, among other organisations.
The SFC authorises and regulates the RSHK branch in Hong Kong, while the Australian company RSA is governed by the Australian Securities and Investments Commission (ASIC). Furthermore, the Securities Commission of Malaysia has allowed the establishment of the Malaysian branch (CMSL).
What safeguards do you have in place? The aforementioned collection of rules and permits helps to assure the broker's dependability and that activities are carried out in compliance with established regulatory regulations, among other things. A trustworthy investment solution is provided, and customers are safeguarded in a variety of ways, including the storage of traders' assets in separate accounts from the company's funds and participation in a compensation Fund in the case of a broker's bankruptcy, among other things.
What is the greatest amount of leverage available at Rakuten? As a worldwide broker that services a variety of companies while still being regulated by local authorities, Rakuten affiliates are able to provide a variety of degrees of leverage to their clients. In contrast to the Japanese and Australian Rakuten firms, which continue to provide a very high degree of leverage on Forex instruments up to 1: 400, other organisations may allow maximum leverage of up to 1:100 for popular Forex currency pairings.
Exactly what kind of trading accounts does Rakuten Securities provide? With the help of its different branches, Rakuten provides a diverse variety of investment choices and caters to the demands of a diverse range of traders and customers. Since a result, in order to avoid being disoriented, it is recommended that you visit the official website of the broker in the jurisdiction with whom you will be working, as the terms and offers may differ. For example, Rakuten's Australian office provides two kinds of accounts that vary in terms of the magnitude of spreads and the amount of leverage available.
For the most part, however, Rakuten employs pricing technology that is pulled straight from the Tokyo platform, since doing so enables you to use bigger orders and give better costs in international markets. In terms of trading costs, the broker does not charge a fee; instead, it charges a commission and offers a predetermined spread that might widen owing to a lack of available liquidity.
Depending on the country in where the customer is located, the Rakuten brokerage firm offers them with a variety of platforms that they may choose from. As a result, Australia Rakuten provides the industry-renowned MetaTrader 4 platform as a trading platform, which, in addition to its outstanding performance, lets you to examine the market using a range of charts, technical tools, and a flexibly customisable interface.
Rakuten FX trading platform, which is provided by a company based in Hong Kong, is another platform choice to consider. With its simple interface and solid functioning, it is an ideal trading platform for beginners. Its streaming trading feature allows for faster order execution at cheaper trading costs, thanks to a small fixed spread and the absence of extra fees.
iSPEED app or web terminal access to the market platform is also included in the Malaysian package. The iSPEED app or web terminal provides a more efficient way to manage trading operations from an online account.
The Rakuten broker has set low requirements for the first Deposit of $ 50, making it possible for traders of any skill level to begin trading with Rakuten right away. Consult your broker, however, to ensure that you have enough margin to cover all of the trades you intend to make, taking into consideration the trading instrument and volume you intend to use.
As an international broker that delivers professional services while continually upgrading its offering, Rakuten Securities is a good choice. By opening a number of branches in highly regulated jurisdictions, the Japanese-based parent company has broadened its product offering and created a more secure trading environment for its customers.
For investors and traders, the overall offering is quite comprehensive, with a large number of account kinds, fixed spreads, trading platforms, and the availability of progressive tools among its many features.
As a general rule, Rakuten Securities can be considered a dependable and appealing broker for online trading. It is only necessary to check the relevant information depending on your country of residence and the branch where you intend to trade, as conditions may differ slightly depending on where you live and where you intend to trade.
ASIC regulates Rakuten Securities Australia, which is based in Australia and is governed by the Australian Securities and Investments Commission (ASIC).
Rakuten Trade MY is a Malaysia-based company that is regulated by the Securities Commission Malaysia (SCM) (SCM).
Rakuten Securities HK is a Hong Kong-based brokerage firm that is regulated by the Securities and Futures Commission (SFC).
Japanese brokerage Rakuten Securities JP is governed by the Japan Financial Services Agency and is based in Tokyo (JFSA).
It is owned and run by Rakuten, Inc., a Japanese e-commerce and Internet giant, which also owns and operates a number of other businesses. Although the brokerage has been operating out of its home base of Tokyo since 1999, the company has recently expanded internationally to include offices in Hong Kong, Malaysia and Australia among other locations.
All four jurisdictions in which the broker conducts business are registered and regulated, which means that it is subject to the scrutiny of some of the most prestigious regulatory bodies in the world, including the Australian Securities and Investments Commission (ASIC) and the Japan Financial Services Agency (JFSA) (JFSA).
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The fact that the broker is owned by a significant and publicly listed Japanese corporation also means that its reliability and trustworthiness are among the greatest in the industry, allowing traders to concentrate on what really matters to them.
Rakuten Securities' website is easy to use and has all of the pertinent information that a trader could want to get started. News, promotions, and regular campaigns with incentives are also prominently featured on the home page, where they are clearly accessible to all visitors to the website.
A large selection of educational materials and market commentary provided by the broker's own trading experts is also available on the website, including daily videos highlighting the most important technical and fundamental drivers in the commodity, forex, and stock markets, among other things.
A fantastic feature about Rakuten Securities is that it welcomes customers from all around the globe with the typical exclusion of US-based traders. As a non-EU broker, Rakuten also used to be allowed to provide high trading leverage to all its customers, but this is no longer the case today. Following a regulation tightening in Australia in 2021, ASIC-regulated forex brokers may now provide a leverage of 1:30 at the maximum for main FX pairs, and much less for other products. Because Rakuten's other operations outside of Australia have not been harmed, they may continue to provide the same level of leverage as previously.
When compared to many other forex brokers, who normally operate with dynamic spreads that fluctuate in response to market circumstances, Rakuten's spreads are set and generally narrow, beginning at 0.5 PIPS for the popular EUR/USD on a regular trading account on the popular currency pair. As a result, traders may benefit from commission-free trading in a secure and reputable trading environment.
When it comes to trading platforms, Rakuten Securities Australia has selected the MetaTrader 4 (MT4) platform, but Rakuten Securities Hong Kong has developed its own platform, known as Rakuten FX, which is accessible for use on desktop computers, mobile devices, and the internet. In this context, it's worth noting that the Hong Kong branch formerly provided access to the Trading Station II platform, which has already been discontinued as of April 2021.
At the same time, the Malaysian branch of Rakuten, which is primarily focused on stock trading, does this using a customised online interface that provides direct access to the Bursa Malaysia stock market.
Traders may choose from a variety of different kinds of trading accounts offered by Rakuten, depending on the entity of the broker they want to sign up with and which instruments they intend to trade. Traditional CFD and FX trading, on the other hand, is only offered via a single kind of retail trading account at the Australia-based branch. Spreads start at 0.5 pips, there are no commissions, and a minimum deposit of 50 Australian dollars is required to open this account.
Apart from that, Rakuten Australia also provides professional trader accounts in three categories with minimum deposits that range from AUD 50 to 1,000, which provide access to much larger trading leverage than the retail account. Consider the fact that in order to be classed as a professional trader by Rakuten Australia, a trader will have to fulfil a number of criteria. This includes, among other things, possessing net assets of at least 2.5 million AUD, or gross income of at least 250,000 AUD for each of the previous two years, among other things.
Many other brokers have joined the "copy trading" bandwagon in recent years, and Rakuten's Australian brokerage is no exception. They provide their customers with the chance to duplicate the movements performed by other traders who have established a good track record on the platform. To differentiate itself from the competition, Rakuten allows traders to imitate trading robots, also known as Expert Advisors, in addition to copying other human traders. This is a first for the industry. Anyone seeking for a decent trading system to follow may benefit from this since it might possibly save them a significant amount of money that would otherwise be spent on a "out-of-the-box" trading system if they want to do so.
Overall, it's reasonable to say that Rakuten Securities, with all of its branches in different sections of the financial services industry, is one of the most well-regarded organisations in the business. Globally, the firm handles a substantial amount of trading volume, and it has a public stock exchange listing on the Tokyo Stock Exchange, which contributes to the brand's high degree of trust as a whole.
Learn more about online trading brokers for UAE citizens and residents.
Sites like Rakuten in the UAE
Here is a list of top online brokers to open an account for trading Forex, Bitcoin, CFDs and Stocks in the UAE. These brokers have above-average reviews on sites like Reddit, Quora and Trustpilot; and are totally legit, safe and trustworthy for UAE citizens and residents.
The brokers listed on this webpage accept clients from within the United Arab Emirates. Most of these companies provide an online trading platform for fiat currencies (such as Pound Sterling, the Euro, the US dollar, Japanese Yen etc.), buying and selling of cryptocurrencies (for example Bitcoin, Ethereum, Tether, XRP etc.), stocks (this includes listings on Abu Dhabi Securities Exchange, Borse Dubai, Dubai Mercantile Exchange, Dubai Financial Market and NASDAQ Dubai), CFDs (Apple, Microsoft, Amazon, Google, Tesla etc.), UAE government and corporate bonds, and short-term to long-term fixed income securities.
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- Swissquote - It's a Swiss bank that offers an online trading platform for forex and CFD trading. (Swissquote Review)
- easyMarkets - Israeli brand that is big all over. (easyMarkets Review)
- OANDA - American broker that is now spreading its wings. (OANDA Review)
- Forex.com - Google ranks them in the top 10 for the term "forex". (Forex.com Review)
- Plus500 - UK brand that has its own platform, OK for CFDs, with mediocre reviews. (Plus500 Review)
- AvaTrade - Regulated by ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi. (AvaTrade Review)
- FXCM.com - Oldest brand when it comes to retail online forex trading. (FXCM.com Review)
- Mashreq Neo - An online trading platform provided by Mashreq Bank. (Mashreq Neo Review)
- ForexTime (FXTM) - Owned by Andrey Dashin from the Alpari broker fame. (ForexTime FXTM Review)
- Noor Capital - Licensed and Regulated by the UAE Central Bank and SCA. (Noor Capital Review)
- XM.com - XM broker is big in Africa and South East Asia, and now promoting themselves hard in the UAE. (XM.com Review)
- Saxo Bank - Danish Investment Bank with a long history of catering for premium forex investors. It also provides crypto trading facility. (Saxo Bank Review)
- Pepperstone - Originally Australian, but licensed locally by Dubai Financial Services Authority. (Pepperstone Review)
- ADSS - Based out of Abu Dhabi and regulated by the Central Bank of the United Arab Emirates. (ADSS Review)
- CMC Markets - UK-based broker that is popular among CFD traders. (CMC Markets Review)
- Orient Finance - Local online-trading broker that caters to novice traders looking to invest in the foreign exchange markets. (Orient Finance Review)
- Alfa Financial - Their office is located at City Centre Deira on Port Saeed Road; and generally tends to attract investors within Dubai. (Alfa Financial Review)
- One Financial Markets - Local forex broker with an office at Dubai International Financial Centre at Index Tower. (One Financial Markets Review)
- Amana Capital - A broker located at Central Park Towers, Dubai International Financial Center. (Amana Capital Review)
- ETX Capital - UK broker that has a decent reputation among Arab investors. (ETX Capital Review)
- Century Financial - Old online-trading broker with an office at Level 6, Building 4, Emaar Square, Downtown Dubai. (Century Financial Review)
- IFCM UAE - Nothing special about IFC Markets, but it does have a dedicated .AE website for UAE clients. (IFCM UAE Review)
- EARNEX - This one is present at Jumeirah Lakes Towers and is licensed by the SCA. (EARNEX Review)
- Interactive Brokers - American online-trading broker that is expanding into Asian and Arab markets nowadays. (Interactive Brokers Review)
- Dukascopy Bank SA - Swiss bank that offers online forex trading on its own proprietary platform. (Dukascopy Bank SA Review)
- Gulf Brokers - Dubai Multi Commodities Centre (DMCC) regulates this broker, but there nothing extraordinary about this brand. (Gulf Brokers Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.