How to get to your first trade at Rakuten Securities?

Reading time: 6 minutes

Choosing Rakuten Securities as your broker to do your first trade is a good idea, go for it. In this article, we are going to take you through all the steps necessary, from the registration all the way to setting up your first order. At Rakuten Securities, opening an account is easy, and needs no prior knowledge. If you have opened an account anywhere on the internet before, you pretty much already know what to expect.

To give you a brief summary: Rakuten Securities is a forex and CFD broker regulated by Australia's ASIC. Its parent company Rakuten is listed on the Tokyo Stock Exchange.

THE ESSENCE:

  • Signing up just takes 15 minutes on average, while the approval of your account could take 1 day
  • You will need to prove your identity and residency with documents. Some examples:
    • Proof of identity: ID / passport / driver's license
      Proof of residency: bank statement / utility bill
  • Rakuten Securities is a reliable broker regulated by a top-tier regulator
  • Visit Rakuten Securities's site and start registering now!

First, let's see if Rakuten Securities is available in your country?

Disclaimer: 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

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74-89% of retail CFD accounts lose money

Rakuten Securities account opening
How to get a verified trading account at Rakuten Securities?

First you need to fill a registration form to apply for an account. Your application needs time to be verified [1 day] after which you can deposit and start trading.

The journey at Rakuten Securities

Rakuten Securities account opening step-by-step guide

  1. Go to Rakuten Securities's website to start the account opening process.
  2. Follow the account opening process: it is self-evident, but you might need help at some point. Don't worry, we cover the main issues here.

Which Rakuten Securities account to choose?

If you want to explore the possibilities offered by this broker, you will need to choose an account type, and for that, you should consider how experienced you are in trading and investing.

We have more details about the available account types in our review for you to explore.

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74-89% of retail CFD accounts lose money

Which base currency to choose?

Why does this matter? You can cut your costs.

  • If you fund your trading account in the same currency as your bank account, or you trade assets in the same currency as your trading account base currency, you don't have to pay a conversion fee.
  • A convenient way to save on the conversion fees is by opening a multi-currency bank account at a digital bank, which is fast and easy.

The base currencies at Rakuten Securities are: USD, EUR, GBP, AUD.

Once you have filled out the form, uploaded your documents, chose your account type, base currency and finished the trading survey, Rakuten Securities will verify your account very shortly.

Why do I need to fill the trading experience survey?

It might seem scary at first, but it is nothing to worry about. This is standard procedure, as brokers need to make sure that you have a basic financial knowledge and you are aware of the risks of trading.

Also don't worry if the broker asks questions about your financial background e.g. your available assets, salary range. This is also part of the risk assesment process - to make sure you don't take on investments and trades you can't afford.

Rakuten Securities account opening
How to deposit and start trading at Rakuten Securities?

To do your first trade, you have to fund your account. Generally, brokers offer a Bank transfer / ACH / Credit or debit card / E-wallet transfer solution.

This is where you stand at the account opening at Rakuten Securities

Is there a minimum deposit at Rakuten Securities?

Unfortunately, yes. At Rakuten Securities, the minimum deposit amount is $50.

This means that you have to deposit at least $50 to be able to start trading.

However, if you feel like this service is not your cup of tea: no worries. After depositing, you can opt out and withdraw your funds anytime.

If you received your verification email, you are good to go to fund your account and start investing!

Here's how to start after funding your account:

  • First, check the products on the platform. You can also search for assets using its search tool,
  • Here, you'll see a list of assets by certain categories, like asset classes,
  • Click/tap on an asset to see its chart,
  • After this step, it is easy to specify the transaction size, order types, and terms.

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74-89% of retail CFD accounts lose money

Rakuten Securities account opening
Is Rakuten Securities safe?

Yes, Rakuten Securities can be considered a legit broker, as it is regulated by at least one top-tier regulator, which is a great sign for reliability.

For you, this means that your money is in good hands and you will most probably not become a victim of a scam by Rakuten Securities.

Throughout the account opening process at Rakuten Securities, you won't be required to pay anything to create your account. Also, you can close your account anytime you like.

Every time you are planning to dive into finances, make sure you know who you trust your money with. Make sure that the broker is considered trustworthy. We, at BrokerChooser, only recommend regulated brokers on our site, meaning the broker's operations are overseen by a trusted body.

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74-89% of retail CFD accounts lose money

Rakuten Securities account opening
Wrap-up

You are awesome for having read through this article! Opening an account might seem cumbersome at first, but the best time to start dealing with your finances is always right now.

We want to help you along the way, so if you are stuck somewhere, have a question, or a suggestion, please drop us an email at [email protected].

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

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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