de | cn | ru
  VS.    

Rakuten Securities Hong Kong

Rakuten Securities Hong Kong Review
Trader's rating 5
Editor's rating 4.4

Trading Accounts

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Rakuten FX None 1k unit 1:20 0.9 pips
Trading Station None 1k unit 1:20 0.4 pips + US$0.08/lot (roundturn)

 

Rakuten FX Spread Highlight

Currency Pair
Spread
Currency Pair
Spread
Currency Pair
Spread
USD/JPY
0.9
EUR/USD
0.9
GBP/USD
1.6
NZD/USD
2.1
EUR/GBP
1.8
EUR/CHF
2.7
USD/HKD
3.0
HKD/JPY
4.0
AUD/USD
1.3
EUR/JPY
2.2
GBP/JPY
2.2
CHF/JPY
2.6
CAD/JPY
2.2
AUD/JPY
1.9
NZD/JPY
2.4
GBP/CHF
3.0
AUD/NZD
2.6
CNH/JPY
2.3
AUD/CHF
2.3
NZD/CHF
5.4
ZAR/JPY
4.6
NOK/JPY
4.3
TRY/JPY
3.7
SGD/JPY
4.6

 Spreads on Rakuten FX platform

 

Rakuten Securities Hong Kong offers trading in 40 currency pairs on two robust platforms. Potential clients can register and download its Rakuten FX trading platform demo for trial before account opening or actual trade.

 

Note that there is a difference in the margin requirement for hedging in the two types of accounts. Both Rakuten FX and Trading Station platforms require margin only on one side and margin counts on the side requires larger amount.

 

 

The Company. Security of Funds

 

Company Country Regulation
Rakuten Securities Hong Kong Hong Kong SFC

 

Rakuten Securities Hong Kong (Rakuten Securities HK) is a subsidiary of the Japanese forex giant Rakuten Securities, one of the three largest forex brokers in Japan, and also a pioneer in leveraged foreign exchange trading in Hong Kong.

 

Rakuten Securities, Inc. (“Rakuten Securities”) is the securities division of Rakuten Group which operates as Japan’s largest E-Commerce provider. Rakuten Group is based in Japan, but operates globally through various subsidiaries offering business services like e-commerce, travel, banking, securities, credit card, e-money, portal and media, online marketing and professional sports, etc.

 

Actually, Rakuten Securities acquired the Hong Kong brokerage from FXCM in the autumn of 2015 and subsequently rebranded and relaunched it in 2016.

 

Rakuten Securities HK is regulated by the local Securities and Futures Commission (SFC). This means that the client trading accounts are well protected and fully within Hong Kong's legal jurisdiction.

 

The SFC licensing procedure is a long and complicated one, involving submission of various documents, a test for officials representing the firm, and maintaining adequate accounting and control systems. The commission also exercises supervision over licensed companies, performing on-site reviews and off-site monitoring. There are also stringent capital requirements for the brokers. Since 2015 there is also the requirement that the license holders allow investors to claim damages if the intermediary is selling or recommending a financial product that is not reasonably suitable for the client. 

 

 

Trading Conditions

 

Minimum initial deposit

Rakuten Securities HK does not have a minimum deposit requirement. Naturally, in order to trade, one does need to put in some money in their account.

 

Spreads and commissions

Rakuten Securities HK offers fairly tight spreads. The Trading Station account has tighter spreads, but there is also a commission. The calculation of this fee appears to be a somewhat complicated affair, measured in pips, and ultimately turns out to be less favorable. As per Rakuten's own calculations, the commission is around 0.8 pips, which added to the spread, amounts to a total of 1.2 pips, compared to only 0.9 pips on Rakuten FX platform.

 

Leverage

The leverage of Rakuten Securities HK is 1:20, which is not much, but many jurisdictions have imposed caps on leverage at similar levels. For example, the maximum leverage allowed to retail clients in Japan is 1:25 and in Europe – 1:30 (as of August, 2018). The reason for such restrictions is the fact that using high leverage levels involves significant risk of loss.

 

 

Trading platforms

 

Rakuten Securities HK offers two trading platform and neither of them is MetaTrader 4, which is relatively rare among brokers. Instead, it has Rakuten Securities Japan's proprietary platform Rakuten FX, iSpeedFX and Trading Station, which was “inherited” from FXCM.

 

All platforms have applications for mobile devices and web versions.

 

Rakuten FX is an award-winning user-friendly platform with robust functionality and an AS Streaming trading function that allows speedy user execution and one click order execution. The platform features 7 order types, notifications, real time reports, trading from charts, 9 types of charts, 44 basic and advanced indicators and customizable parameters.

 

Click on image for larger view

 

Trading Station allows users to trade raw spread directly from top liquidity providers with No Dealing Desk (NDD) execution with a low fixed commission and using the essential functions of the proprietary Marketscope charting tool. The platform supports five order types, hedging, trading from charts and 60 basic and advanced indicators. It also offers one click or double click order execution and “simple” and “advanced” dealing rates, real time news and customization.


 

Click on image for larger view

 

   

Methods of payment

 

Rakuten Securities HK accepts client payments through ATM, internet banking and bank counter, for Hong Kong residents. For international clients the funding options are bank wire and post office wire (for clients in China). The broker also accepts checks and e-checks.

 

 

Conclusion

 

The mere fact that Rakuten Securities HK is regulated by SFC and is a subsidiary of a Japanese broker suggests it is stable and reliable. Hong Kong is not such a large market in itself, but China is, which makes the regulation lucrative. Besides, the trading conditions of Rakuten Securities HK are transparent and more than attractive: low spreads, no minimum investment requirement, three great trading platforms available.

 

To sum up the above:

 

 

Pros Cons
Regulated in HK, part of an international group No MetaTrader
Tight fixed spreads Low leverage
No deposit requirement  
Two user-friendly trading platforms, individual training  

 

FX Choice

FX Choice Review
Trader's rating 4.1
Editor's rating 4.4

Trading Accounts

 

Account type Minimum deposit  Minimum trade size  Maximum leverage  Average Spread 
Classic  $100 0.01 1:200 1.2 pips on EUR/USD
Pro  $100 0.01 1:200 0.5 pips on EUR/USD + $3.86 per lot (per side)


Clients of FX Choice are provided with a choice of two account types: Classic and Pro. The main difference between the two is that the Classic one is commission-free, offering higher spreads, while the Pro account is commission based and provides tighter spreads due to the ECN environment. Besides, only the Pro account offers a choice of desktop platforms – MetaTrader 4 and MetaTrader 5.


What is more, traders can choose to open Corporate or Individual accounts.


The Com
pany. Security of Funds

 

Company

Country

Regulation

FXChoice Ltd.

Belize

IFSC

 

FXChoice is a broker specialized in Forex and CFD trading for private clients, institutional investors and fund managers. Having around a decade of experience in the forex industry, the brokerage strives to provide excellent service and customer support. In 2016 alone FXChoice was awarded the Exceptional Customer Service accolade by LiveHelpNow on 5 occasions.

 

The broker offers trading in almost 40 currency pairs and various CFDs (on indices, precious metals, commodities, energies) through two robust trading platforms. With their NDD technology FXChoice is executing around 15 000 digital transactions a day.

 

The company behind the brand, FXChoice Ltd., is headquartered in Belize and regulated by the local International Financial Services Commission (IFSC).

 

IFSC has liberal control over forex brokers. Its supervision focuses on promulgation of regulation and a mandatory code of conduct, as well as the licensing process. Compliance-checking, reporting and on-going supervision are little emphasized.

 

Despite of the lack of strict regulatory rules, FXChoice places a special focus on security and keeps clients’ funds in segregated accounts, absolutely separate from their corporate ones.

 

What is more, this broker practices positive price correction. This practically means that even if traders actually slip into negative balances under extraordinary circumstances, FXChoice will simply zero out these balances. 


Trading Conditions


Minimum Initial Deposit

Unlike most forex brokers, who usually set up different initial investment for different account types, FXChoice demands $100 from both Classic and Pro account holders. This is a comparatively low initial investment for ECN environment.


Average Spreads & Commissions

This broker offers competitive variable spreads, which vary by account type. Nonetheless, trading costs on both accounts are similar, amounting to an average of 1.2 pips on EUR/USD per (ECN account holders are offered spread averaged 0.5 pips on EUR/USD incurring a commission of $ 7 per lot round turn).  So, FXChoice’s pricing is pretty attractive


Maximum Leverage

The maximum leverage level offered to FXChoice’s clients is 1:200, which is average for the industry.

 

Trading Platforms

 

The broker supports several trading platforms: MetaTrader 4, MetaTrader 5, as well as Myfxbook Autotrade.

 

Both the MT4 and the MT5 offer access to the forex, contracts for difference (CFDs), options and futures markets, but the MT5 also offers an option for trading in stocks. Both platforms use MQL programming languages and allow automated trading via Expert Advisors (EAs). They offer advanced charting packages, trading and analysis tools, alerts, signals, and customizable indicators.

 

With FXChoice MT4 is available as desktop version, mobile apps and there is also a web-based version offered, called Web terminal MetaTrader 4.

 

The MT5 was developed and promoted as an upgrading on MT4, yet many brokers still prefer the earlier technology, since many of MT4’s indicators and Expert Advisors (EA) are not supported on the MT5 platform. Lately, however, the MetaTrader 5 is gaining popularity among both traders and brokers, as the hedging option was added to it and a number of other enhancements were made. With FXChoice the platform is available as a PC version and mobile apps.

 

In addition to MT4 and MT5, FXChoice is offering the Autotrade service operated by Myfxbook. This is a social forex community and online automated analytical tool, by which you can copy the trades of any system you select, directly into your FXChoice MetaTrader 4 account, without any additional fees or software to install. 

 

Besides, traders who keep a monthly balance of $3,000 or more at least 5 lots per month qualify for free VPS.


Promotions

Like many other forex brokers, from time to time FXChoice offers its clients special bonuses.


Methods of Payment

 

This broker provides a variety of payment methods to its clients: wire transfer, credit/debit card, e-wallets: Skrill, Neteller, FasaPay, Bitcoin, Perfect Money, ePayments, Trustly, Astropay and PaySafeCard.

 

Accounts can be opened in USD, EUR, GBP, AUD, CAD and Bitcoin.

 

Conclusion

 

Despite its looser regulation, FXChoice is a reliable award-winning NDD broker with more than 10 years of experience in the forex industry. It offers fast market execution and competitive trading conditions on a variety of trading platforms. To sum up the above, here are the Pros & Cons of FXChoice:

 

Pros Cons
Competitive spreads Liberal regulation
Pure NDD brokerage  
Low initial deposit for ECN environment  
Both MT4 and MT5 available   
Extra tools such as live economic calendar, VPS  

 

FxChoice Headquarters: 
21 Regent Street, P.O. Box 1814, Belize City

Country: Belize

Regulation: N/A

Website: MyFxChoice.com

de | cn | ru