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Written by: Gyula L. Updated: Dec 2022
Expert verified
Recommended for
  • forex trading 3.8/5
Trusted broker
Regulated by top-tier financial authorities
Popularity
154 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.

Rakuten Securities is a regulated broker, it is overseen by a top-tier financial regulator in Australia . and it offers negative balance protection We at BrokerChooser always test brokers with real money, including the withdrawal process.

You can't open an account at Rakuten Securities if you live in United States. See the best alternative available in your country.

Rakuten Securities pros and cons

Pros Cons
No inactivity fee Limited product portfolio
Easy and fast account opening No web trading platform
Good mobile 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
To read much more details about the broker's services and features, expand on the sections below.

Rakuten Securities review
Fees

3.8
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.
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Rakuten Securities review
Account opening

5.0
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.
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Rakuten Securities review
Deposit and withdrawal

4.3
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.
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Rakuten Securities review
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.
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Rakuten Securities review
Mobile trading platform

3.8
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.
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Rakuten Securities review
Desktop trading platform

3.4
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.
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Rakuten Securities review
Markets and products

1.3
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.
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Rakuten Securities review
Research

1.8
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.
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Rakuten Securities review
Customer service

4.5
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.
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Rakuten Securities review
Education

3.0
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.
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Rakuten Securities review
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.
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Rakuten Securities review
Bottom line

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Rakuten Securities review
FAQ

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Author of this review

Gyula Lencsés, CFA

Author of this review

Gyula has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He has trading experience in a wide range of asset classes, including stocks, ETFs, bonds, commodities, forex and derivatives markets.

Gyula Lencsés, CFA

Head of Content

Gyula has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He has trading experience in a wide range of asset classes, including stocks, ETFs, bonds, commodities, forex and derivatives markets.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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74-89% of retail CFD accounts lose money

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