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Forex trading4.2/5
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Regulated by the top-tier ASIC in Australia
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Founded in 1999
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No investor protection
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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.
- Easy and fast account opening
- Good mobile trading platform
- No inactivity fee
- 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 |
👛 With electronic wallet | Available |
💱 Number of base currencies | 4 |
🎮 Demo account provided | Yes |
🛍️ Products offered | Forex, CFD, Crypto |
Rakuten Securities summary
- Low forex fees
- No inactivity fee
- High withdrawal fee for certain transactions
To read much more details about the broker's services and features, expand on the sections below.
Rakuten Securities review
Fees
- Low forex fees
- No inactivity fee
- High withdrawal fee for certain transactions
Rakuten Securities review
Account opening
- Fast
- Fully digital
- Low minimum deposit
Rakuten Securities review
Deposit and withdrawal
- No deposit fee
- User-friendly
- Credit/Debit card not available
- High withdrawal fee
- Slow withdrawal - over 3 days
Rakuten Securities review
Web trading platform
Rakuten Securities review
Mobile trading platform
- User-friendly
- Good search function
- Price alerts
- No two-step (safer) login
- No Touch/Face ID login
- No order confirmation
Rakuten Securities review
Desktop trading platform
- Clear fee report
- Good customizability (for charts, workspace)
- Price alerts
- No two-step (safer) login
- Poor design
Rakuten Securities review
Markets and products
Rakuten Securities review
Research
- No trading ideas
- No fundamental data available
- No/poor quality news flow
Rakuten Securities review
Customer service
- Email support works well
- No 24/7 support
- Slow support
- Irrelevant answers
Rakuten Securities review
Education
- Demo account
- Quality educational texts
- No trading platform tutorial videos
- No educational videos
Rakuten Securities review
Safety
- Majority of clients belong to a top-tier financial authority
- Banking background
- Parent company is listed on stock exchange
- No investor protection
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.