- forex trading 3.8/5
Regulated by top-tier financial authorities
130 people chose this broker in the last 6 months
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.
Is Rakuten Securities a legit broker?
See how Rakuten Securities is regulated and whether you should have any concerns using it.
Rakuten Securities is available in Pakistan
74-89% of retail CFD accounts lose money
Rakuten Securities pros and cons
Rakuten Securities main highlights
🗺️ Country of regulation
💰 Trading fees class
💰 Inactivity fee charged
💰 Withdrawal fee amount
💰 Minimum deposit
🕖 Time to open an account
💳 Deposit with bank card
👛 Depositing with electronic wallet
💱 Number of base currencies supported
🎮 Demo account provided
🛍️ Products offered
Forex, CFD, Crypto
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.
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 However, it lacks two-step login and its design is outdated.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.
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.
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.
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.
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.