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Rakuten Securities Australia
In this company review, we delve into the operations of Rakuten Securities Australia, an online broker authorized by the Australian Securities and Investments Commission (ASIC) to provide financial derivatives. Established in 1999, the company, which is a subsidiary of Japan-based Rakuten Securities, offers a range of trading options including over 40 forex currency pairs, commodities, indices, gold, and silver on the MetaTrader 4 (MT4) platform. With a minimum trade size of 0.01 and a maximum leverage of 400:1, the company provides a flexible trading environment for both novices and experienced traders. The minimum to open a live account is $50, making it accessible for many potential investors. Rakuten Securities Australia operates from its office in Sydney, with regional offices in other parts of the world. The company supports various deposit and withdrawal methods, including bank wire transfers, VISA, MasterCard, American Express, Bitcoin, Maestro, Neteller, Skrill, and UnionPay. The company also offers web and mobile trading, allowing users to trade on the go. It also supports Expert Advisors (EAs) and robots, and offers copy trading for those who wish to follow the strategies of successful traders. Despite its impressive offerings, Rakuten Securities Australia is not without its limitations. It is prohibited from operating in certain countries, and its range of trading instruments, while diverse, is not as extensive as some of its competitors. In conclusion, Rakuten Securities Australia is a solid choice for those seeking an online broker with a range of trading options and a user-friendly platform. However, potential investors should always conduct their own due diligence before making a decision.
Review Rakuten Securities Australia
Established in 1999, Rakuten Securities is a reputable online broker with its main headquarters in Japan and subsidiaries in Australia, Hong Kong, Malaysia, and other countries. This review will delve into the operations of Rakuten Securities Australia, an ASIC Authorized Broker, and provide a comprehensive analysis of its offerings in the Forex Market.
Regulatory Status and Safety Check
Rakuten Securities Australia operates under the authorization of the Australian Securities and Investments Commission (ASIC), providing a degree of trust and security for its clients. The ASIC authorization means the broker adheres to stringent regulatory standards, which include financial transparency and fair treatment of clients. However, as with any investment, trading in the Forex Market comes with its inherent risks, and traders should be aware of these.
Trading Offerings
As an online broker, Rakuten Securities Australia provides its clients with a wide array of financial derivatives for trading. These include over 40 Forex currency pairs, commodities, indices, gold, and silver. The broker also offers Contracts for Difference (CFDs), giving traders the opportunity to speculate on the rising or falling prices of fast-moving global financial markets.
Trading Platforms
Rakuten Securities Australia utilizes the popular MetaTrader 4 (MT4) trading platform. Known for its user-friendly interface, advanced charting capabilities, and automated trading features, MT4 is a favorite among both new and experienced traders. The broker also provides Web Trading and Mobile Trading options for those who prefer to trade on-the-go.
Account Details
The minimum trade size at Rakuten Securities Australia is 0.01, with a maximum leverage of 400:1. To open a live account, a minimum deposit of $50 is required. This low entry barrier makes it accessible for traders with different financial capabilities.
Deposit and Withdrawal Methods
The broker offers a variety of deposit and withdrawal methods, including Bank Wire, VISA, MasterCard, American Express, Bitcoin, Maestro, Neteller, Skrill, and UnionPay. This wide range of options provides flexibility and convenience for clients with different banking preferences.
Additional Features
Rakuten Securities Australia also supports Expert Advisors (EAs) or Forex Robots for automated trading. Additionally, the broker offers Copy Trading, allowing less experienced traders to copy the trades of successful traders.
Pros and Cons
Some of the advantages of Rakuten Securities Australia include ASIC authorization, a wide range of trading offerings, and a variety of deposit and withdrawal methods. The broker also offers low minimum deposit requirements and supports automated and copy trading. However, it's worth noting that the broker does not offer cryptocurrency trading, which might be a drawback for some traders.
Scammer or Not
Based on the ASIC authorization and the broker's long-standing operation since 1999, Rakuten Securities Australia appears to be a legitimate online broker. However, traders are always advised to conduct their due diligence before choosing a broker.
FAQ Section
Here are some frequently asked questions about Rakuten Securities Australia:
Is Rakuten Securities Australia authorized?
Yes, Rakuten Securities Australia is authorized by the Australian Securities and Investments Commission (ASIC).
What is the minimum deposit at Rakuten Securities Australia?
The minimum deposit to open a live account at Rakuten Securities Australia is $50.
Does Rakuten Securities Australia support automated trading?
Yes, Rakuten Securities Australia supports automated trading through Expert Advisors (EAs) or Forex Robots.
For more information about Rakuten Securities Australia and other online brokers, visit forexroboteasy.com. Feel free to leave feedback about your experience with the company. This independent review aims to provide a comprehensive analysis of the broker's offerings without any personal bias.
Rakuten Securities Australia: ASIC-Authorized Online Broker Review
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Kamaja Fx
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Rakuten Securities Australia: A Review on Account Opening & Customer Service
Embarking on a journey with Rakuten Securities Australia can initially appear as an uphill battle, particularly in the account registration process. The steps involved in this journey are straightforward and should theoretically be seamless. However, in my personal experience, I found there to be somewhat of a challenge in getting my account setup approved despite sending the necessary documentation. Creating the account was straightforward enough; it was the approval and verification that proved problematic. Despite my efforts to register and test the platform, the story of my journey was one of unresponsiveness and lack of support. Even reaching out via email did not yield any fruit - the support system at Rakuten Securities Australia seemed to be virtually non-existent, at least in my specific instance. Papers were sent, efforts were made, but, it felt as if I was left alone to wander the vast expanse of this platform. The lack of acknowledgement and assistance pushed me to speculate about how impenetrable the wall of non-communication would be when an actual problem arises. If opening an account in itself poses such a challenge, one can’t help but wonder about the quality of the support that clients are likely to receive post-registration. As clients, we seek assurance that our problems will be heard and addressed promptly. However, the evidence from my initial interaction with Rakuten Securities Australia does raise concerns. In summary, while Rakuten Securities Australia may have a lot to offer in terms of products and services, my first encounter with their account opening process and customer service left much to be desired. It’s crucial for businesses in this digital age to practice efficient and effective communication. This review isn't to discredit Rakuten Securities Australia altogether, but a call to re-analyse and rectify their client communication system and registration process. A potential customer shouldn't have to face hurdles before even embarking on their investment journey.