Recommended for
- forex trading 3.8/5
Trusted broker
Regulated by top-tier financial authorities
Popularity
130
people
chose this broker in the last 6 months
BrokerChooser Score
4.2/5
Rakuten Securities review summary
Rakuten Securities is a forex and CFD broker regulated by Australia’s ASIC. Rakuten Securities doesn’t charge an inactivity fee, and account opening is easy and fast. In addition, the mobile platform is good, user-friendly and well-designed. On the negative side, Rakuten Securities only offers a limited range of products covering forex and some CFDs. There is no web trading platform and customer support is poor, as it’s reliable only by email. BrokerChooser gave Rakuten Securities a 4.2/5 rating based on analyzing 500+ criteria and testing via opening a live account.
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Rakuten Securities pros and cons
Pros
Cons
- No inactivity fee
- Easy and fast account opening
- Good mobile trading platform
- Limited product portfolio
- No web trading platform
- Poor customer service
Rakuten Securities main highlights
🗺️ Country of regulation
Australia
💰 Trading fees class
Low
💰 Inactivity fee charged
No
💰 Withdrawal fee amount
$25
💰 Minimum deposit
$50
🕖 Time to open an account
1 day
💳 Deposit with bank card
Available
👛 Depositing with electronic wallet
Available
💱 Number of base currencies supported
4
🎮 Demo account provided
Yes
🛍️ Products offered
Forex, CFD, Crypto
Fees
Rakuten Securities has low forex and CFD trading fees. Non-trading fees are average, as there is no inactivity fee, but a withdrawal fee is charged on international bank transfers and electronic wallets.
Account opening
The account opening at Rakuten Securities is user-friendly and fully digital. It is also very fast, as it took only 1 day for our account to be approved.
Deposit and withdrawal
Rakuten Securities charges no deposit fees and the process is user-friendly, with even electronic wallets available. However, bank cards are not accepted, withdrawal is slow and can be expensive.
Web trading platform
Rakuten Securities doesn’t offer a web trading platform, only mobile and desktop trading platforms. This is quite unusual for an online broker.
Mobile trading platform
Rakuten Securities has a good, well-designed and user-friendly mobile trading platform, offered by MetaTrader 4. On the negative side, it lacks a safer, two-step login.
Desktop trading platform
Rakuten Securities uses the MetaTrader desktop trading platform, which is highly customizable, with a clear fee report and price alerts. However, it lacks two-step login and its design is outdated.
Markets and products
At Rakuten Securities you can only trade some forex pairs, CFDs and Crypto. A lot of popular asset types, like stocks, ETFs and funds, are not available.
Research
Rakuten Securities’s research tools could be much better: some trading ideas are available, but many of them are outdated. Fundamental data is also missing and the news feed is low-quality.
Customer service
Rakuten Securities customer service gives fast and relevant answers via email. However, live chat and phone support is slow and unsatisfactory, and is not available 24/7.
Education
Rakuten Securities offers quality educational texts, webinars and a demo account as an educational tool. However, there are no instructional videos or other material available.
Safety
Rakuten Securities is regulated by a top-tier authority and its parent company is publicly listed. On the negative side, it does not provide investor or negative balance protection.