Rakuten Securities Alternatives

May 2019
Our top picks for Rakuten Securities alternatives
IC Markets Pepperstone

The best alternatives to Rakuten Securities are

  1. IC Markets - Australian forex broker
  2. Pepperstone - Australian forex broker
  3. FXCM - UK-based forex broker
  4. Oanda - American FX broker

Let's see in a bit more detail how the Rakuten Securities alternatives compare to Rakuten Securities and each other:

Rakuten Securities alternatives comparison
Rakuten SecuritiesIC MarketsPepperstoneFXCMOanda
Overall score3.94.54.44.34.2
Fees score 4 stars 5 stars 4 stars 4 stars 3 stars
Account opening score 5 stars 5 stars 4 stars 4 stars 4 stars
Deposit and withdrawal score 3 stars 5 stars 4 stars 4 stars 4 stars
Web platform score- 4 stars 4 stars 3 stars 5 stars
Markets and products score 1 stars 1 stars 1 stars 1 stars 1 stars
Visit broker Visit broker Visit broker Visit broker Visit broker

Why are these brokers considered good alternatives to Rakuten Securities? There are many areas based on which Rakuten Securities can be compared with others. When we say a given online broker is a good alternative to Rakuten Securities we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

Rakuten Securities alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • Rakuten Securities is recommended for forex traders preferring low fees and metatrader 4 trading platform
  • IC Markets is recommended for forex traders preferring easy account opening and free deposit and withdrawals
  • Pepperstone is recommended for forex traders aiming for a good customer service
  • FXCM is recommended for forex traders looking for easy account opening, funding, and withdrawal processes
  • Oanda is recommended for price sensitive forex and traders

Important factors of finding Rakuten Securities alternatives

So far Brokerchooser has reviewed 29 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether Rakuten Securities or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Rakuten Securities is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Rakuten Securities alternative.

Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At Rakuten Securities this is not a problem as you can have it ready on the same day you registered.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at Rakuten Securities, some alternatives might allow you to do that.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Rakuten Securities alternative is a must.


Now let's dive into the details of how Rakuten Securities and its alternatives perform in the most important areas!


Rakuten Securities

Rakuten Securities logo

Rakuten Securities is a brokerage company founded in 1999 and is the subsidiary of Rakuten, a Japanese holding company which is listed on the Tokyo Stock Exchange.

Rakuten Securities has different legal entities in Japan, Hong Kong, Malaysia, and Australia. In this review, we tested the Australian entity of Rakuten Securities because it is available worldwide. Each time we say Rakuten Securities, we refer to the Australian legal entity of Rakuten Securities.

The Australian legal entity is a forex and CFD broker which is considered safe because it is regulated by the top-tier ASIC and has a strong parent company.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders preferring low fees and metatrader 4 trading platform

Pros
  • Low fees
  • Easy and fast account opening
  • Great mobile trading platform
Cons
  • Limited product portfolio
  • Limited research tools
  • Missing web trading platform

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Rakuten Securities
Fees 4 stars

Rakuten Securities has low trading fees and low non-trading fees.
Pros
  • Low trading fees
  • Low non-trading fees
  • No withdrawal fee
Cons
  • High financing rate
Rakuten Securities alternatives trading fees
Rakuten SecuritiesIC MarketsPepperstoneFXCMOanda
EURUSD benchmark fee$19.9$15.7$17.6$13.8$19.4
EURGBP benchmark fee$13.4$12.0$14.1$16.4$14.7

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

More Visit broker

Rakuten Securities
Account opening 5 stars

The account opening at Rakuten Securities is user-friendly and fully digital. It is also very fast, it took only 1 day until our account was approved.
Pros
  • Fast account opening
  • Fully digital account opening
  • User-friendly
Cons
None
Rakuten Securities alternatives minimum deposit and account open times
Rakuten SecuritiesIC MarketsPepperstoneFXCMOanda
Minimum deposit$50$200$0$0$0
Time to open account1 day1 day1-3 days1-3 days1-3 days

Learn more about the Rakuten Securities minimum deposit here.

More Visit broker

Rakuten Securities
Deposit and withdrawal 3 stars

Rakuten Securities charges no fees for deposit and withdrawal. Besides bank transfer, you can use more electronic wallets for transferring money. On the negative side, credit/debit cards are not provided and the withdrawal is slow.
Pros
  • Free withdrawal
  • No deposit fee
  • Electronic wallet deposit and withdrawal
Cons
  • Credit/Debit card deposit and withdrawal not available
  • Slow withdrawal
Rakuten Securities and alternatives withdrawal options and fees
Rakuten SecuritiesIC MarketsPepperstoneFXCMOanda
Bank TransferYesYesYesYesYes
Credit/Debit cardNoYesYesYesNo
Electronic walletsYesYesYesNoNo
Withdrawal fee$0$0$20$0$35

More Visit broker

Rakuten Securities
Web trading platform

Rakuten Securities doesn't offer web trading platform, only mobile and desktop trading platform. Offering a web-based application is very common today as it is more convenient to use than desktops and accessible from all devices. We missed the web platform very much.
Rakuten Securities and alternatives trading platform scores
Rakuten SecuritiesIC MarketsPepperstoneFXCMOanda
Web platform score- 4 stars 4 stars 3 stars 5 stars
Mobile platform score 4 stars 4 stars 4 stars 2 stars 4 stars
Desktop platform score 3 stars 4 stars 4 stars 3 stars 3 stars

Learn more about Rakuten Securities's web trading platform in the detailed Rakuten Securities review.

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Rakuten Securities
Markets and products 1 stars

At Rakuten Securities, you will have access only to some forex and CFDs. It lacks a lot of popular asset classes, like stock, ETF, fund, etc.
Rakuten Securities and alternatives markets and products
Rakuten SecuritiesIC MarketsPepperstoneFXCMOanda
StockNoNoNoNoNo
ETFNoNoNoNoNo
ForexYesYesYesYesYes
FundNoNoNoNoNo
BondNoNoNoNoNo
OptionsNoNoNoNoNo
FuturesNoNoNoNoNo
CFDYesYesYesYesYes
CryptoNoYesYesYesNo

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#1 Rakuten Securities alternative - IC Markets
IC Markets

IC Markets logo

IC Markets is an Australian forex broker offering some CFDs too. It was founded in 2007.

IC Markets is considered safe because it is regulated by the top-tier Australian regulator, the Australian Securities and Investments Commission (ASIC).

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders preferring easy account opening and free deposit and withdrawals

Pros
  • Low fees
  • Easy and fast account opening
  • Free deposit and withdrawal
Cons
  • No investor protection
  • No negative balance protection
  • Only forex, CFD, and crypto trading is provided

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IC Markets
Fees 5 stars

IC Markets has low trading and non-trading fees.
Pros
  • Low trading fees
  • Low non-trading fees
  • No withdrawal fee
Cons
None
Rakuten Securities vs. IC Markets: Trading fees
IC MarketsRakuten Securities
EURUSD benchmark fee$15.7$19.9
EURGBP benchmark fee$12.0$13.4

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

More Visit broker

IC Markets
Account opening 5 stars

The account opening at IC Markets is user-friendly and fully digital. It was also very fast, it took only 1 day until our account was approved.
Pros
  • Fast account opening
  • Fully digital account opening
  • User-friendly
Cons
None
Rakuten Securities vs. IC Markets: Minimum deposit, time to open an account
IC MarketsRakuten Securities
Minimum deposit$200$50
Time to open account1 day1 day

If you are interested more in IC Markets minimum deposit, this overview will help you.

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IC Markets
Deposit and withdrawal 5 stars

IC Markets does great at deposit and withdrawal. There are no fees for deposit and withdrawal. You can also use a lot of options for transferring money.
Pros
  • Credit/Debit card deposit and withdrawal
  • Free withdrawal
  • User-friendly
Cons
None
Rakuten Securities vs. IC Markets: Withdrawal options
IC MarketsRakuten Securities
Bank TransferYesYes
Credit/Debit cardYesNo
Electronic walletsYesYes
Withdrawal fee$0$0

More Visit broker

IC Markets
Web trading platform 4 stars

IC Markets offers only third-party trading platforms. We tested cTrader which is a great platform. It is well designed and user-friendly. On the flip side, it lacks the two-step login.
Pros
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
Cons
  • No two-step (safe) login
Web trading platform of IC Markets, a Rakuten Securities alternative
Rakuten Securities vs. IC Markets: Trading platform scores
IC MarketsRakuten Securities
Web platform score 4 stars -
Mobile platform score 4 stars 4 stars
Desktop platform score 4 stars 3 stars

Learn more about IC Markets's web trading platform in the detailed IC Markets review.

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IC Markets
Markets and products 1 stars

At IC Markets, you can trade only forex, some CFDs, and cryptos. It lacks real stock, fund, bonds, options, and futures asset classes.
Rakuten Securities vs. IC Markets: Markets and products
IC MarketsRakuten Securities
StockNoNo
ETFNoNo
ForexYesYes
FundNoNo
BondNoNo
OptionsNoNo
FuturesNoNo
CFDYesYes
CryptoYesNo

More Visit broker

#2 Rakuten Securities alternative - Pepperstone
Pepperstone

Pepperstone logo

Pepperstone is an Australian forex broker that also offers some CFDs. It was established in 2010 and opened a London office in 2015 to better serve European clients.

Pepperstone is considered safe, as it is regulated by top-tier financial authorities, like the UK FCA and the Australian ASIC.

Pepperstone is a forex and CFD broker. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best customer support

Recommended for forex traders aiming for a good customer service

Pros
  • Great customer service
  • User-friendly and fast account opening
  • Easy-to-use and good-looking platforms
Cons
  • Limited product portfolio
  • Limited research
  • Limited education

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Pepperstone
Fees 4 stars

Pepperstone has low trading fees and average non-trading fees. It has no inactivity fee. On the negative side, the withdrawal fee is high.
Pros
  • Low trading fees
  • No inactivity fee
  • Transparent fee structure
Cons
  • Withdrawal fee
Rakuten Securities vs. Pepperstone: Trading fees
PepperstoneRakuten Securities
EURUSD benchmark fee$17.6$19.9
EURGBP benchmark fee$14.1$13.4

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

More Visit broker

Pepperstone
Account opening 4 stars

Pepperstone account opening is great. It is fully digital and user-friendly. On the negative side, it can take several days.
Pros
  • Fully digital account opening
  • User-friendly
  • Many account types
  • No minimum deposit for Standard Account
Cons
  • It can take 4-5 business days
Rakuten Securities vs. Pepperstone: Minimum deposit, time to open an account
PepperstoneRakuten Securities
Minimum deposit$0$50
Time to open account1-3 days1 day

If you are interested more in Pepperstone minimum deposit, this overview will help you.

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Pepperstone
Deposit and withdrawal 4 stars

Pepperstone offers a lot of deposit options, which are user-friendly. However, the withdrawal fees are high.
Pros
  • User-friendly
  • Free bank and electronic wallets deposit
  • Free credit and debit cards withdrawal
Cons
  • High withdrawal fee
Rakuten Securities vs. Pepperstone: Withdrawal options
PepperstoneRakuten Securities
Bank TransferYesYes
Credit/Debit cardYesNo
Electronic walletsYesYes
Withdrawal fee$20$0

More Visit broker

Pepperstone
Web trading platform 4 stars

Pepperstone offers only third-party trading platforms. We tested cTrader, which is a great platform: it is well-designed and user-friendly. On the negative side, it lacks the two-step login.
Pros
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
Cons
  • No two-step (safe) login
Web trading platform of Pepperstone, a Rakuten Securities alternative
Rakuten Securities vs. Pepperstone: Trading platform scores
PepperstoneRakuten Securities
Web platform score 4 stars -
Mobile platform score 4 stars 4 stars
Desktop platform score 4 stars 3 stars

Learn more about Pepperstone's web trading platform in the detailed Pepperstone review.

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Pepperstone
Markets and products 1 stars

At Pepperstone you can only trade with forex, some CFDs, and cryptos.
Rakuten Securities vs. Pepperstone: Markets and products
PepperstoneRakuten Securities
StockNoNo
ETFNoNo
ForexYesYes
FundNoNo
BondNoNo
OptionsNoNo
FuturesNoNo
CFDYesYes
CryptoYesNo

More Visit broker

#3 Rakuten Securities alternative - FXCM
FXCM

FXCM logo

FXCM, or Forex Capital Market, is a London-based forex broker that also offers some CFDs. FXCM was established in 1999 and has two main shareholders: Jefferies Financial Group and Global Brokerage. Both parent companies are listed on stock exchanges.

FXCM is considered safe, as it is regulated by top-tier financial authorities, like the UK FCA and the Australian ASIC.

FXCM is a forex and CFD broker. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best technical tools

Recommended for forex traders looking for easy account opening, funding, and withdrawal processes

Pros
  • Low trading fees and financing rates
  • Good technical research tools
  • Fast and straightforward account opening
Cons
  • Limited product portfolio
  • Poor mobile platform
  • Poor desktop trading platform

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FXCM
Fees 4 stars

FXCM offers low trading fees and average non-trading fees.
Pros
  • Low trading fees
  • No withdrawal fee
  • Low financing rate
  • Transparent fee structure
Cons
  • Inactivity fee
Rakuten Securities vs. FXCM: Trading fees
FXCMRakuten Securities
EURUSD benchmark fee$13.8$19.9
EURGBP benchmark fee$16.4$13.4

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

More Visit broker

FXCM
Account opening 4 stars

The account opening process at FXCM is hassle-free and straightforward. Furthermore, there is no minimum balance requirement.
Pros
  • Fully digital account opening
  • No minimum account balance
  • User-friendly
Cons
  • Account opening takes several days
Rakuten Securities vs. FXCM: Minimum deposit, time to open an account
FXCMRakuten Securities
Minimum deposit$0$50
Time to open account1-3 days1 day

If you are interested more in FXCM minimum deposit, this overview will help you.

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FXCM
Deposit and withdrawal 4 stars

There are several options both for deposit and withdrawal. Also, the deposit is free of charge. On the negative side, withdrawal can be slow.
Pros
  • Credit/Debit card deposit and withdrawal
  • No deposit fee
  • User-friendly
Cons
  • Slow funding and withdrawal - over 3 days
  • Withdrawal fee for bank transfer can be high
Rakuten Securities vs. FXCM: Withdrawal options
FXCMRakuten Securities
Bank TransferYesYes
Credit/Debit cardYesNo
Electronic walletsNoYes
Withdrawal fee$0$0

More Visit broker

FXCM
Web trading platform 3 stars

FXCM's trading platform is extremely customizable. It also offers a lot of order types. On the other hand, there is no two-step login and setting alerts is a pain.
Pros
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Available in several languages
Cons
  • No two-step (safe) login
  • Setting alerts is complicated
Web trading platform of FXCM, a Rakuten Securities alternative
Rakuten Securities vs. FXCM: Trading platform scores
FXCMRakuten Securities
Web platform score 3 stars -
Mobile platform score 2 stars 4 stars
Desktop platform score 3 stars 3 stars

Learn more about FXCM's web trading platform in the detailed FXCM review.

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FXCM
Markets and products 1 stars

At FXCM you will only have access to some forex, some CFDs, and Bitcoin trading.
Rakuten Securities vs. FXCM: Markets and products
FXCMRakuten Securities
StockNoNo
ETFNoNo
ForexYesYes
FundNoNo
BondNoNo
OptionsNoNo
FuturesNoNo
CFDYesYes
CryptoYesNo

More Visit broker

#4 Rakuten Securities alternative - Oanda
Oanda

Oanda logo

Oanda is an American FX broker established in 1996. It is considered safe, as it is regulated by top-tier financial authorities, like the UK FCA and the Australian ASIC.

Oanda is a forex and CFD broker. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best API

Recommended for price sensitive forex and traders

Pros
  • Easy-to-use web trading platform
  • Easy and digital account opening
  • Powerful research tools
Cons
  • Only FX, and some CFDs
  • Poor customer service
  • Pricey withdrawal

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Oanda
Fees 3 stars

Oanda offers low trading fees and high non-trading fees. The withdrawal fee can be really high.
Pros
  • Low trading fees
Cons
  • Withdrawal fee
  • High financing rate
  • Financing rate calculation is non-transparent
Rakuten Securities vs. Oanda: Trading fees
OandaRakuten Securities
EURUSD benchmark fee$19.4$19.9
EURGBP benchmark fee$14.7$13.4

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

More Visit broker

Oanda
Account opening 4 stars

Oanda account opening is hassle-free and straightforward. There is no minimum balance required. On the other hand, the sales team is pushy.
Pros
  • Fast account opening
  • Fully digital account opening
  • No minimum account balance
Cons
  • Sales team pushy
  • It can take up to 3 business days
Rakuten Securities vs. Oanda: Minimum deposit, time to open an account
OandaRakuten Securities
Minimum deposit$0$50
Time to open account1-3 days1 day

If you are interested more in Oanda minimum deposit, this overview will help you.

More Visit broker

Oanda
Deposit and withdrawal 4 stars

You can use many options for both deposit and withdrawal, and the first withdrawal is free for cards. However, the withdrawal can take long and the withdrawal fee can be high.
Pros
  • Several account base currencies
  • User-friendly
  • First withdrawal is free for credit/debit cards and electronic wallets
Cons
  • High withdrawal fee
  • Slow funding and withdrawal - over 3 days
Rakuten Securities vs. Oanda: Withdrawal options
OandaRakuten Securities
Bank TransferYesYes
Credit/Debit cardNoNo
Electronic walletsNoYes
Withdrawal fee$35$0

More Visit broker

Oanda
Web trading platform 5 stars

The Oanda trading platform is great. It is very user-friendly with great customizability and good search functions. On the other hand, you cannot set price alerts.
Pros
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
Cons
  • No price alerts
Web trading platform of Oanda, a Rakuten Securities alternative
Rakuten Securities vs. Oanda: Trading platform scores
OandaRakuten Securities
Web platform score 5 stars -
Mobile platform score 4 stars 4 stars
Desktop platform score 3 stars 3 stars

Learn more about Oanda's web trading platform in the detailed Oanda review.

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Oanda
Markets and products 1 stars

At Oanda, you can trade only forex and some CFDs.
Rakuten Securities vs. Oanda: Markets and products
OandaRakuten Securities
StockNoNo
ETFNoNo
ForexYesYes
FundNoNo
BondNoNo
OptionsNoNo
FuturesNoNo
CFDYesYes
CryptoNoNo

More Visit broker

Rakuten Securities alternatives
Bottom line

Based on our analysis, there are several good alternatives to Rakuten Securities. They all offer similar products and target similar customers. Here's a recap of the results in a table.

Rakuten Securities alternatives
BrokerInfoRecommended for
Rakuten SecuritiesAustralia-based forex and CFD brokerForex traders preferring low fees and MetaTrader 4 trading platform
IC MarketsAustralian forex brokerForex traders preferring easy account opening and free deposit and withdrawals
PepperstoneAustralian forex brokerForex traders aiming for a good customer service
FXCMUK-based forex brokerForex traders looking for easy account opening, funding, and withdrawal processes
OandaAmerican FX brokerPrice sensitive forex and traders

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

AUTHOR

Dan Sallai
Dan Sallai
CMO
My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.
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