Rakuten Securities Australia

This review will cover sec.rakuten.com.au. For the sec.rakuten.com.hk (Hong Kong) review click here.

Rakuten Securities Australia is nothing short of impressive. It is structured, and a blast to browse, plus it’s smooth aesthetic wise, and offers clear details on its many aspects. But we must ask ourselves: are the inner layers as polished as the outer ones? Read on to find out.

Rakuten Securities Australia Pty Limited is a subsidiary of Rakuten Securities, Inc. The broker is regulated by ASIC, or the Australian Securities and Investments Commission. This regulatory body acts directly in favor of the traders of Australia, helping them bypass any irregularities and malpractices. This does not exclude non-Australian traders to use Rakuten Securities Australia. Nonetheless, ASIC doesn’t not include a client reimbursement policy, however there are no restrictions for the leverage limit.

The spread value on Rakuten Securities Australia depends on the account type. For the Standard account the EUR/USD spread is 0.5 pips, while with the High Leverage account it’s 0.8 pips. The leverage can go as high as 1:400.

Rakuten Securities Australia offers a limited amount of tradable assets: currency pairs, metals and indices. This is almost unacceptably low for a broker holding a reliable license.

The limitations extend to the languages. There are just two: English and Chinese.

RAKUTEN LOGIN

Rakuten Securities Australia offers MT4 as it sole trading platform.

METATRADER 4

Holding the title for the most popular trading platform in the industry does not come easily. MT4 incorporates all features that both new and professional clients need to have in their trade game. Clients can set auto trades that come loaded with lots of customizable options for optimal trading. The superior charting package, and drag and drop features allow users to take faster and more practical trading routes. Chart analysis tools, customizable trading indicators, the inclusion of VPS, and much more make MT4 the best option out there.

Rakuten Securities Australia also has integrated Myfxbook into MT4. By utilizing this feature, clients will be able to monitor and duplicate the trading patterns and strategies of more established traders.

The EUR/USD spread with the Standard Account is only 0.5 pips, while with the High Leverage account it’s 0.8 pips. The only difference between accounts is the leverage. The standard one give a 1:100 leverage, while with the High Leverage account it’s 1:400.

There are no commissions attached to spreads.

Access MT4 on mobile via the App or Play stores, or download a standalone desktop version of it.

RAKUTEN MINIMUM DEPOSIT

The minimum deposit is $50. This is a great starting point. The lower the minimum deposit is, the less intimidated novice traders will be, meaning that they will actually invest, rather than pass and look for another broker.

The variety of payment options has always indicated that a broker strives towards acquiring a wider audience: NAB, Neteller, Skrill, China Union Pay, Instant Transfer for South East Asia, VISA via Neteller or Skrill, MasterCard via Neteller, Maestro via Neteller, Amex via Skrill, Bitcoin via Netteller or Skrill.

The base currencies are: AUD, USD, EUR and GBP.

All deposit methods work instantaneously, except for NAB- here the process time for domestic transfers is 1-2 business days, while for international transfers it’s 3-5 working days.

There are no deposit fees.

RAKUTEN WITHDRAWAL TIME AND FEES

The withdrawal methods are as follows: NAB, Neteller, Skrill, China Union Pay, Instant Transfer for South East Asia, VISA via Neteller or Skrill, MasterCard via Neteller, Maestro via Neteller, Amex vis Skrill, Bitcoin via Netteller or Skrill.

NAB process time for domestic transfers is 1-2 business days, while for international transfers it’s 3-5 working days. Neteller and Skrill processing times are 1-2 business days. China Union Pay and Instant Transfer for South East Asia withdrawal requests are processed in 3 days max. Note that once the request has been processed by the broker, it may take an indefinite amount of time for the money to reach your personal account as it’s up to the individual payment systems to transfer it.

NAB withdrawal are charged with $25 (Domestic AUD Withdrawal fee will be eliminated). Neteller and Skrill are commissioned with 2% of the amount. All other methods are free of charge.
However, payment systems can charge an amount on withdrawals. This fee has nothing to do with Rakuten Securities Australia.

The broker does not indicate any withdrawal limits, so in the spirit of generalizing, we must assume that we will be notified of any such limits once a withdrawal has been requested.

BOTTOM LINE

Rakuten Securities Australia is regulated by the top non EU/US license issuer, which makes it regulated by one of the world’s best. There are no commission on trading costs, and speaking of, spreads are satisfyingly low, and payment methods are many.

However, light cannot exist without darkness. Rakuten Securities Australia has the most limited set of assets we have come across, which is a big no since the whole industry is built around the constant adding of instruments. And even though Metatrader 4 is beloved by all, a little variety would be appreciated.