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Rakuten Securities Review 2023

Gyula Lencsés, CFA
Written by
Gyula Lencsés, CFA
Krisztián Gátonyi
Fact checked by
Krisztián Gátonyi
Updated
Aug 2023
448 people picked this broker at BrokerChooser in the last 6 months
Recommended for
  • Forex trading
    4.2/5
Trusted by BrokerChooser
  • Regulated by the top-tier ASIC in Australia
  • Founded in 1999
  • No investor protection
  • Clean track record

Our take on Rakuten Securities

Rakuten Securities is a forex and CFD broker regulated by Australia's ASIC. It 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.

Overall, BrokerChooser gave Rakuten Securities a 4.2/5 rating based on analyzing 500+ criteria and testing via opening a live account.

BrokerChooser score
4.2 4.2 /5
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74-89% of retail CFD accounts lose money
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Pros
  • Easy and fast account opening
  • Good mobile trading platform
  • No inactivity fee
Cons
  • Limited product portfolio
  • No web trading platform
  • Poor customer service
FX commission per lot
No
Currency pairs (#)
40
Minimum deposit
$50
Credit/debit card
Yes
Expert opinion
“I recommend Rakuten Securities for forex traders looking for low fees and those who prefer the MetaTrader 4 trading platform.”

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
👛 With electronic wallet Available
💱 Number of base currencies 4
🎮 Demo account provided Yes
🛍️ Products offered Forex, CFD, Crypto

Rakuten Securities summary

Fees
3.8
Account opening
5.0
Deposit and withdrawal
4.3
Web trading platform
Mobile trading platform
3.8
Desktop trading platform
3.4
Markets and products
1.3
Research
1.8
Customer service
4.5
Education
2.0
Safety

To read much more details about the broker's services and features, expand on the sections below.

Rakuten Securities review
Fees

Score: 3.8/5
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.
Pros
  • Low forex fees
  • No inactivity fee
Cons
  • High withdrawal fee for certain transactions
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Rakuten Securities review
Account opening

Score: 5/5
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.
Pros
  • Fast
  • Fully digital
  • Low minimum deposit
Cons
None
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Rakuten Securities review
Deposit and withdrawal

Score: 4.3/5
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.
Pros
  • No deposit fee
  • User-friendly
Cons
  • Credit/Debit card not available
  • High withdrawal fee
  • Slow withdrawal - over 3 days
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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

Score: 3.8/5
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.
Pros
  • User-friendly
  • Good search function
  • Price alerts
Cons
  • No two-step (safer) login
  • No Touch/Face ID login
  • No order confirmation
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Rakuten Securities review
Desktop trading platform

Score: 3.4/5
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.
Pros
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
Cons
  • No two-step (safer) login
  • Poor design
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Rakuten Securities review
Markets and products

Score: 1.3/5
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

Score: 1.8/5
Rakuten Securities's research tools could be much better: the trading ideas we found were mostly outdated, there is no fundamental data and the news feed is low-quality.
Pros
None
Cons
  • No trading ideas
  • No fundamental data available
  • No/poor quality news flow
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Rakuten Securities review
Customer service

Score: 4.5/5
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.
Pros
  • Email support works well
Cons
  • No 24/7 support
  • Slow support
  • Irrelevant answers
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Rakuten Securities review
Education

Score: 2/5
Rakuten Securities offers quality educational texts and a demo account as an educational tool. However, there are no instructional videos, webinars or other material available.
Pros
  • Demo account
  • Quality educational texts
Cons
  • No trading platform tutorial videos
  • No educational videos
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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 protection.
Pros
  • Majority of clients belong to a top-tier financial authority
  • Banking background
  • Parent company is listed on stock exchange
Cons
  • No investor protection
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Rakuten Securities review
Bottom line

Rakuten Securities does not charge an inactivity fee and account opening is fast and easy. The mobile platform is user-friendly and well-designed.

On the other hand, Rakuten Securities offers only forex and some CFDs for trading. Customer service is poor and we also missed the availability of a web trading platform.

Feel free to try Rakuten Securities, as you will have an account within a day and there is no inactivity fee. 

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74-89% of retail CFD accounts lose money

Rakuten Securities review
FAQ

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Author of this review

Gyula Lencsés, CFA

Author of this review

With over a decade in finance, I lead content creation at BrokerChooser and personally evaluated some of our 100+ listed brokers. I open real-money accounts, execute transactions, and engage with customer services, offering firsthand assessments. Prior to BrokerChooser, I managed mutual funds in wealth management, trading stocks, ETFs, bonds, commodities, forex, and derivatives. My goal: simplify the hunt for top brokers in a dynamic investment landscape.

Gyula Lencsés, CFA

Head of Content

With over a decade in finance, I lead content creation at BrokerChooser and personally evaluated some of our 100+ listed brokers. I open real-money accounts, execute transactions, and engage with customer services, offering firsthand assessments. Prior to BrokerChooser, I managed mutual funds in wealth management, trading stocks, ETFs, bonds, commodities, forex, and derivatives. My goal: simplify the hunt for top brokers in a dynamic investment landscape.

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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