Rakuten Securities Review 2019

Founded in 1999, Rakuten Securities is a global online broker that offers fixed spread trading on forex and cfds via the MT4 platform. They provide trading tools including Autochartist and copy trading solutions via ZuluTrade and MyFxBook.

Rakuten Securities Review 2019, Pros & Cons
  • Strict regulation
  • Segregated client funds
  • Fixed spread accounts
  • No commission fees on trades
  • Social trading via myfxbook & ZuluTrade
  • Analysis & market reports courtesy of Autochartist
  • No US clients
  • Limited non-FX instruments
  • No variable spread accounts
  • Educational material not yet provided

In this detailed Rakuten Securities review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

Rakuten Securities is not ranked in our best forex brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Rakuten Securities.

Rakuten Review: Summary

Rakuten Securities is one of the five largest forex brokers in the world and a pioneer in leveraged forex trading. They offer online forex and CFD trading products and services on the MT4 platform. The broker boasts a global presence with a very large customer base from all over the world. The website is available in 11 languages.

Rakuten Securities Australia is part of the Rakuten Securities Inc. which has been in operations since 1999. Rakuten Inc. is publicly traded on the Tokyo Stock exchange. It has a market capitalisation of 1 trillion Japanese Yen.

Rakuten Review: Company Overview

Rakuten Review: Company Overview

Rakuten Securities states clearly that it is a market maker because its order volume is so high that it can act as its own liquidity provider without involving any third party. The broker affirms that it does not act as counterparty to client orders. Market executions are used on all orders and they are executed within milliseconds. The trade execution servers are located in Australia and Tokyo respectively.

Rakuten Review: Features

Rakuten Review: Features

Rakuten has grown to become a household name through its established, respected proven trading offerings along with large sponsorship deals including that with Spanish football giants “FC Barcelona”.

Rakuten Review: Regulation

Rakuten Securities Australia is regulated by the Australian Securities and Investments Commission (ASIC). Rakuten Securities Australia holds Australian Financial Services License (AFSL) number 418036. Rakuten Securities is also regulated by the Japan Financial Services Agency (JFSA).

All Rakuten Securities Australia client funds are held in segregated accounts domiciled in the National Australia Bank which is an AA rated bank. This is in compliance with the ASIC regulations. Funds held in segregated accounts are not used by Rakuten for its internal operations. If in the future, the broker becomes insolvent, the segregated funds will be returned to the owners.

The Rakuten website and platform is protected by a 128-bit Secured Socket Layer (SSL) encryption which is provided by “DigiCert SHA 2 Secure Server CA”. This ensures that all user sensitive data, such as credit card details, are encrypted before it is transmitted to the servers over the internet. Internet hackers and cyber thieves are kept away by this SSL technology.

Rakuten Review: Countries

Rakuten accepts clients from all over the world, excluding some countries where restrictions apply such as USA, Belgium, Russia, Iran & Israel. Some Rakuten Securities broker features and products mentioned within this Rakuten Securities review may not be available to traders from specific countries due to legal restrictions.

Rakuten Review: Trading Platforms

The only platform provided for trading is the popular MetaTrader (MT4) trading platform developed by Russian software company MetaQuotes. Rakuten provides the MT4 platform as a downloadable windows desktop application and also as mobile apps. MAC OSX users are advised to contact the support team for assistance on how to install MT4 on their systems. Other brokers provide MT4 for MAC.

Rakuten Review: Trading Platforms

Rakuten Review: Trading Platforms

MT4 Desktop

Rakuten chose to offer MT4 to traders because of its myriad of features, tools and customisability.

MT4 desktop platform features:

  • Interactive charts in 3 styles that can be displayed over 9 timeframes.
  • 30 inbuilt technical indicators that can be expanded with custom indicators.
  • 24 Analytical objects used to conduct technical analysis of the charts.
  • 4 pending orders, 2 stop orders and a trailing stop.
  • One-click trading.
  • Notifications via platform, SMS and email.
  • Live quotes and live charts of all tradable assets.
  • Supports automated trading through the use of Expert Advisors (EAs).
  • MetaEditor for developing EAs, indicators and scripts in the MQL programming language.
  • Access to the MetaTrader market where more trading tools can be purchased.

MT4 Mobile

The MT4 mobile app is available for iOS and android devices. Rakuten provides the links to download the apps from the respective app stores. The mobile app is designed for users to access their trading account whilst on the go from anywhere in the world with an internet connection. The app interface is simple and user friendly. It maintains most of the same features as the desktop version.

MT4 mobile features:

  • The ‘Quotes’ tab displays the live ‘bid’ and ‘ask’ prices of all the tradable assets.
  • Fully customisable charts in 3 styles and 9 timeframes. The charts can be zoomed and displayed in various colours.
  • 30 technical indicators and 24 analytical objects for conducting chart analysis.
  • Complete orders management using market execution, pending orders and risk management tools like Stop loss and take profit.
  • Account balance displays in real time even when trades are in session.
  • It integrates seamlessly with the desktop version. You can place a trade on your pc and monitor, adjust or close the trade on the mobile app.
Rakuten Review: MT4 Mobile App

Rakuten Review: MT4 Mobile App

Rakuten Review: Trading Tools

News

The latest news section on the Rakuten website gives the market news on the various trading instruments as it breaks. Unfortunately, this news section is currently not frequently updated (as of 2019).

Rakuten Review: News

Rakuten Review: News

Copy Trading

Rakuten provides Copy Trading services for its clients via Myfxbook’s AutoTrade feature. Myfxbook is a popular social trading network that allows users to copy the strategies and trades of other traders.

Rakuten MT4 trading accounts can be linked with myfxbook in order to access the AutoTrade feature. The minimum account balance required to link accounts with myfxbook is $1,000. Myfxbook charges a fee of $0.1 for every $1000 traded.

Rakuten Review: Myfxbook AutoTrade

Rakuten Review: Myfxbook AutoTrade

Auto Chartist

This is an MT4 plugin tool that scans the charts of different instruments looking for a trading opportunity. When it finds one, the trader is alerted. It is available in 11 languages and fully customisable. This saves the time spent on technical analysis by the trader. The Autochartist can be downloaded from Rakuten’s website and installed on the desktop version of the MT4 platform.

Rakuten Review: AutoChartist

Rakuten Review: AutoChartist

Market Report

Rakuten Clients can subscribe to receive 3 market reports every day. These reports give an outlook of the market when the Tokyo, London and New York markets open.

Rakuten Review: Market Report

Rakuten Review: Market Report

ZuluTrade

ZuluTrade is amongst the leading social trading networks available today. ZuluTrade enables traders to locate expert strategy providers from their rankings, performance and other statistics. Rakuten’s clients can choose from thousands of traders from over 190 countries and copy their trades automatically. To start trading with ZuluTrade, clients are required to sign up to ZuluTrade and then link their MT4 accounts.

Rakuten Review: ZuluTrade

Rakuten Review: ZuluTrade

VPS

The Virtual Private Server (VPS) is provided for all clients who are interested. It is often required by traders who use complex trading styles, trading systems and EAs. A VPS is useful for running MT4 24 hours a day, 7 days week. It can also increase latency and minimise downtimes. The VPS can be setup through Amazon and Rakuten provides a guide on how to go about it.

Rakuten Review: Education

At the moment, there are no training resources on the Rakuten website. The ‘Learn’ section of the website says that Rakuten is putting together the educational materials to assist traders. It further urges interested users to put down their email addresses for information when the training package will be ready.

Rakuten Review: Trading Instruments

Rakuten offers a limited array of assets when compared to the majority of other online brokers. There are about 40 forex currency pairs and precious metals which include gold and silver. Also, the broker offers 10 CFD indices from around the world.

Rakuten Review: Fixed Spreads

Rakuten Review: Fixed Spreads

Rakuten Review: Trading Accounts & Fees

Rakuten offers only two types of accounts which are based on leverage. The minimum opening balance for both accounts is $50. The broker offers fixed spreads with no commissions on all accounts.

Fixed spread accounts can be useful for those whose trading strategy requires a consistent spread and helps the trader to calculate the cost of a trade before placing the position. However, it should be noted that at certain times such as during news releases or hours of low volatility, spreads can still increase.

The trading account types are as follows:

  • Standard Account: This account offers a maximum leverage of 1:100. This account offers lower spreads with the benchmark EURUSD currency pair at 0.5 pips.
  • High Leverage Account: The maximum leverage available is 1:400. Spreads are slightly higher with the EURUSD currency pair at 0.8 pips.

Islamic accounts that comply with Sharia law are available upon request although Rakuten insists that it is strictly for Muslims and so, anyone who applies for Islamic account must provide a proof of his faith.

Demo accounts are available to test the different trading platforms and conditions before opening a real account. Demo accounts are unrestricted and unlimited. However, they will be disabled anytime there is no activity in the account for up to 30 days.

As broker fees can vary and change, there may be additional fees that are not listed in this Rakuten Securities review. It is imperative to ensure that you check and understand all of the latest information before you open a Rakuten Securities broker account for online trading.

Rakuten Review: Customer Service

The customer care service is available from Monday to Friday. They can be reached on phone, email, Skype, web chat, WhatsApp and social media. The live chat services are available from 9am to 5pm (Sydney time) from Monday to Friday. All unanswered messages will be replied on the next working day. On social media, they are available on Facebook, twitter, LinkedIn and YouTube. The support team also have a detailed FAQ page where most answers to questions are detailed. They also have a ‘guides page’ containing some pdf guides on MT4 desktop, MT4 mobile and VPS installation.

Rakuten Review: Deposit & Withdrawal

Rakuten Securities asserts that it abides by the counter terrorism and Anti-money laundering laws. So, the broker rejects cash deposits and third party payments. The following payment options are accepted:

  • Bank Wire transfers: Clients can do a direct transfer to Rakuten’s NAB bank accounts from their banks. There are no deposit charges but withdrawals are charged at $25. Local withdrawals in AUD are waived. International bank transfers take 3-5 business days while domestic transfers take 1-2 bank working days.
  • Skrill: This is an e-wallet payment gateway which is accepted for both deposits and withdrawals. There are no deposit fees but a withdrawal fee of 2% is charged. Skrill deposits are processed instantly while withdrawals take up to 2 business days.
  • Neteller: This is a global e-wallet payment option that Rakuten accepts. 2% withdrawal charges apply while deposits are free. Withdrawals can take up to 2 days while deposits are processed instantly.
  • Credit/Debit cards: Payments through cards are available via Neteller. The cards accepted are MasterCard, Maestro, American Express and Visa cards.
  • Bitcoin: This cryptocurrency is accepted for payments via the Neteller and Skrill payment processing platforms.
Rakuten Review: Funding Options

Rakuten Review: Funding Options

Rakuten Account Opening

Click on the “Open live account” button found on the topmost part of all the WebPages on Rakuten’s website. The application form consists of 4-pages that require personal details, employment details, source of funds, trading experience and account information. The final step is to upload a proof of address and a photo ID. This is a normal part of the KYC process.

Rakuten Review: Account Opening Form

Rakuten Review: Account Opening Form

After uploading the necessary documents and submitting the application, a thank you message is displayed. If successful, the account is verified and opened within 24 hours. You can then deposit into your account using any of the convenient funding options and commence trading.

Rakuten Review: Account Opening Success

Rakuten Review: Account Opening Success

Rakuten Review: Conclusion

Rakuten is an experienced broker that has been in operations for a long time in Japan. They have since expanded the company operations globally, endorsing partnerships, opening offices and attracting patronage from traders all over the world.

They implement advanced and innovative trading technologies with very fast servers which complete trade executions in less than a second. Its liquidity pool is superflux, hence the company’s decision to remain ‘market makers’ without any trade manipulations. Clients’ deposits are kept safe as the broker complies with all regulatory standards and verifies all clients using various procedures.

The MT4 platform is well accepted among most traders and it is a good choice by Rakuten. The integration of social trading through ZuluTrade and myfxbook is commendable. The Autochartist is a tool that is very beneficial to traders who need to conduct thorough technical analysis of the charts. Fixed spreads are used on all account types with no commissions charged on trades.

Despite the many positives, the assets listing of this broker is very small compared to other brokers that offer thousands of tradable assets. Also, the broker has no analysts to help with daily analysis and market news. No training resources are provided, though there is a mention on the website that they will soon be available.

Investing in over-the-counter derivatives carries significant risks and is not suitable for all investors. You could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial asset. Rakuten Securities Australia is authorised to provide general advice only. Information provided is of a general nature only and does not consider your objectives, personal circumstances or needs. Rakuten Securities Australia recommends that you seek your own independent personal financial advice before you decide to invest in our products.

Min $50 Deposit

Founded in 1999, Rakuten Securities is a global broker that offers fixed spread trading on forex & cfds via the MT4 platform. They provide trading tools including Autochartist & copy trading solutions via ZuluTrade & MyFxBook.