The world of online trading is filled with countless brokers, making it difficult for traders to decide on the most suitable platform. This article unveils the details of one such broker: Rakuten Securities, offering an in-depth Rakuten review.
Traders Union has compiled the Rakuten review. As traders navigate the tumultuous waves of financial markets, having a trustworthy and competent broker by their side is crucial. This review aims to delve deep into the offerings of Rakuten Securities, revealing its benefits and downsides.
What is Rakuten?
TU experts say Rakuten Securities is part of the broader Rakuten Group Financial Corporation. Headquartered in Tokyo since its inception in 1999, the broker operates from its main office in Sydney. Regulated by the Australian Securities and Investments Commission (ASIC), Rakuten Securities is committed to delivering high-tech platforms, favorable trading conditions, and exceptional customer support to its clientele.
Over the years, Rakuten has developed a reputation for providing a secure trading environment with a stringent regulatory framework that guarantees traders’ funds’ safety. Coupled with the deployment of advanced technology and a wide range of trading instruments, Rakuten is making a name for itself in the competitive world of online brokerage.
Advantages and disadvantages of Rakuten
As per the TU experts, trading through Rakuten Securities has several advantages and disadvantages.
Advantages:
- Low minimum deposit of $50, offering accessibility to a broader range of traders.
- Narrow fixed spreads starting from 0.5 pips, enabling traders to maximize their profit potential.
- Regulation by ASIC ensures a high degree of trust and security.
Disadvantages:
- The absence of cent (micro) accounts potentially limits accessibility for small-scale traders.
- Traders cannot access the MT5 platform and the MT4 web version.
- A limited range of trading instruments, cryptocurrencies, stocks, binary options, futures, or bonds are unavailable.
- Does not cater to traders from Russia and Ukraine.
- Lack of a Russian version of the website.
Analysis of the main Features of the Forex broker
Rakuten Securities has been critically analyzed by the experts from TU and given the following scores:
- Overall score: 3.72/10
- Execution of orders: 3.51/10
- Investment instruments: 3.93/10
- Withdrawal speed: 3.57/10
- Customer Support work: 3.87/10
- Variety of instruments: 3.35/10
- Trading platform: 4.09/10
Trading conditions for Rakuten securities users
Rakuten Securities offers a variety of trading conditions for its users, according to TU experts.
Their proprietary trading platform is MT4 and the available account types are Demo, Standard (with a leverage of 1:100), and High Leverage (with a leverage of 1:400). The account currency can be EUR, USD, GBP, or AUD, and the methods of replenishment or withdrawal include bank transfer, Skrill, Neteller, UnionPay, TransferWise, Bitcoin, and Visa/Maestro/Amex bank cards. The minimum deposit is $50, and they offer 40 currency pairs, gold, silver, and CFDs on indexes as trading instruments. The spread starts from 0.5 for Standard and 0.8 for High Leverage accounts.
Rakuten commissions & fees
According to the Traders Union specialists, Rakuten Securities does not charge fees for deposits or withdrawals. However, fees may apply depending on the payment system used: 0% for UnionPay, 2% for Neteller and Skrill, and 25 AUD/25 USD/20 EUR/15 GBP for National Australia Bank.
Traders Union has answered the question: is Surge Trader legit. To read the answer and a detailed review, please visit the official website of Traders Union.
Conclusion
The Traders Union’s review of Rakuten Securities presents a comprehensive analysis of the broker’s offerings, advantages, and disadvantages. Despite a few limitations, Rakuten’s solid regulatory framework and user-friendly trading environment make it an attractive option for many traders.
To stay informed about the latest news and reviews in the world of trading, visit the official website of Traders Union. The website offers in-depth reviews and insightful analyses to help traders navigate the ever-changing financial market landscape.
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