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Rakuten Securities Hong Kong

Rakuten Securities Hong Kong Review
Trader's rating 5
Editor's rating 3

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  

 

HF Markets (Hot Forex)

HF Markets (Hot Forex) Review
Trader's rating 4
Editor's rating 4.2

Trading Accounts

 

Account type Minimum deposit  Minimum trade size Maximum leverage  Average Spreads 
Micro  $50 0.01 1:1000  1.2 pip on EUR/USD
Premium $500 0.01 1:400 1.2 on EUR/USD
Fixed $500 0.01 1:400 1.8 pip on EUR/USD
Zero $100  0.01 1:200  0.1 pips on EUR/USD + commission $4 per lot traded (per side)
Currenex $500 0.01 1:400 0.2 pips on EUR/USD + commission $5.00 per lot traded (per side)
VIP $20,000  0.01 1:300 0.2 pips on EUR/USD + commission $6.00 per lot traded round turn

 

In order to suit the needs of traders of all preferences and levels of experience, HotForex offers its clients a variety of account types to choose from. You may choose from fixed and floating spreads, commission-free trading (in Micro, Premium and Fixed accounts) or tighter spreads, involving commission fees. Beginners can sign up for Micro accounts with as little as $5, and micro lots are available for trade on all accounts.


Apart from the above mentioned account types, HotForex offers 2 more copy trading ones: an Auto Account, enabling traders to subscribe to free and paid Trading Signals from the MQL5 Community, (built-in to the MT4 trading terminal); and HF Social, which provides trading powered by FxStat.


What is more, swap-free (Islamic) accounts are available with minimum initial deposit $150, designated for clients who are not willing to earn interest for religious reasons.


The Company. Security of Funds

 

Company Country Regulation
HF Markets (Europe) Ltd Cyprus CySEC
HF Markets (UK) Ltd UK FCA
HF Markets SA (DIFC) Ltd UAE DFSA

 

HotForex is a retail forex broker, offering attractive conditions for trading in a wide range of instruments, including Forex, Spot Metals and CFDs on commodities, indices and popular shares such as Google, Apple and Facebook.

 

HotForex is a brand name of a group of companies, operating in different jurisdictions. The most reliable is HF Markets (Europe) Ltd., a Cypriot Investment Firm (CIF), registered in the European Union and licensed by Cyprus Securities and Exchange Commission (CySEC).

 

The broker also holds licenses from UK's Financial Conduct Authority (FCA), the South African regulator, as well as from the Dubai Financial Services Authority (DFSA). The HF Markets group also includes operates two offshore units (HF Markets Ltd., registered in Mauritius, and HF Markets (SV) Ltd., incorporated in St. Vincent & the Grenadines). 


Cyprus is currently one of the most attractive forex broker destinations and probably the main reason for this is its well-balanced regulation. Tough regulation with high entry capital requirements and low maximum leverage has reduced competition in the United States and Japan, while light touch regulation affects credibility and safety.


CySEC applies certain rules and requirements to Cyprus Investment Firms, which are not as stringent as those in the US, for instance, however they provide a certain level of credibility. Cypriot Investment Firms must hold at least €1,000,000 in order to prove their good financial standing. Besides, they are required to keep customer funds in segregated accounts, separated from the company’s operating funds.


As a further guarantee to clients’ funds, all CySEC-regulated companies are members of the Investor Compensation Fund, which is able to pay compensation up to 20,000 EUR, If the company is in default.


Additionally, every CySEC- regulated investment company is also MiFID compliant and therefore entitled to offer cross-border services within the EU under the MiFID Passporting Regime. This also means that they have to meet all requirements for financial servoces provider set on a EU level, such as to provide negative balance protection to their clients, not to offer trading incentives which expose their clients to additional risk, and more.


Trading Conditions


Minimum Initial Deposit

In order to open an account with HotForex, traders have to invest a minimum of $5. Such minimum initial amount is comparatively low, however, many Cyprus-based brokers require even less. For instance, FXTM and XM demand just $5 from their clients as a start.


Spreads & Commissions
This broker offers both floating and fixed spreads. Fixed ones are comparatively low, amounting to 1.8 pips on EUR/USD. In comparison, Easy-forex offers fixed spreads amounting to 1.8 pips on VIP accounts only.


As regards floating spreads with HotForex, typical ones on commission-free accounts amount to 1.2 pips on EUR/USD, which is average. According to us, the conditions on the Zero account are the most attractive ones: spreads averaged 0.1 pips on EUR/USD and commission $4 per 1.00 lot traded (per side), so basically trading costs amount to around 0.9 pips, commission included. And you can open a Zero account with just $100.


For purposes of comparison, average variable spreads on Exness’ commission-free accounts amount to 0.9 pips on EUR/USD, while ECN account holders are offered average spreads of 0.4 pips on EUR/USD with $5 commission per standard lot.


Leverage
The maximum leverage with HotForex is high, reaching 1:1000. Some jurisdictions cap leverage ratios at considerably lower levels (1:50 in the USA, 1:100 in Poland).


The reason for such leverage limitations is that the higher leverage, the higher the risk of losses, which may even exceed initial investments. However, many Cyprus-based brokers offer leverage levels, similar to the ones provided by HotForex (XM – up to 1:888), or even higher – Exness offers leverage up to 1:2000. More FX brokers offering leverage equal to or exceeding 1:500 may be vewed here.


Trading Platforms


This broker supports both MetaQuotes' plaforms: the standard  MetaTrader4 (MT4) and the latest MetaTrader 5.

 

MT4 is an internationally acclaimed trading terminal, offering a full spectrum of trading tools and resources: built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing options for them. Traders can download ready-made or create their own EAs and let the program do all the work, no human emotions involved.


MetaTrader 4 is available to clients of HotForex as desktop, web and mobile versions. More brokers using the MT4 can be viewed here


What is more, HotForex provides MT4 MultiTerminal, which offers a practical and convenient way to manage multiple accounts simultaneously from a single interface.

 

The MT5, on the other hand, was intended as a multi-asset trading platform. In addition to forex, it facilitates trading in exchange-traded stocks. The platform is generally an enhanced version of the MT4, keeping most of the functionalities of its predecessor - the great charting, Expert Advisors, and more.


Besides, free VPS hosting is offered to both new and existing customers who deposit a minimum of $5,000 and maintain this amount for the subsequent months. VPS hosting allows the execution of orders 24 hours, 5 days a week.

 

In addition, HotForex has developed a copy trading service of its own. It is called HFCopy and enables the broker's clients to follow other traders and copy their deals.


Promotions
By the time of writing this review, HotForex runs the following promotions:


- 100% SuperCharged Bonus – applies to each deposit of $250 by FIX, Premium, Currenex and Islamic account holders up to $50,000;
- 30% Rescue Bonus - to a maximum of $7,000 which cannot be withdrawn under any circumstances;
- 100% Credit Bonus - applies on new deposits or internal transfers to trading accounts of at least $100 (available on Micro, Premium, Islamic, FIX and Currenex account types), which can be withdrawn as soon as trading volume requirements are met.
- Performance based competitions: demo contest with $3500 pool prize;
- Other ongoing promotions: HTA award and a $1000 cash prize as a showcase to the superb skills that lead to an excellent performance.


Methods of Payment


HotForex supports a wide range of payment methods: credit/debit cards (Visa, Visa Electron, MasterCard, Maestro, American Express), bank wire transfer and e-wallet payment systems Skrill, Neteller, WebMoney, TrustPay, iDeal, Sofort, Western Union, Przelewy24.


Conclusion


HotForex is a EU award-winning broker that offers wide range of trading products and account types under competitive conditions. To sum up the above, here are the advantages and drawbacks with regards to this broker:

 

Pros  Cons
Solid regulation (FCA, CySEC, DFSA)  No choice of trading platforms
Low competitive spreads  
MT4 available, HFCopy  
Attractive Bonuses & Promotions  

 

Headquarters:
HF Markets Europe Ltd

Spirou Kyprianou 50, Irida 3 Tower, 10th Floor, Larnaca 6057
 
 
Country: Cyprus
 
Regulated by: CySec
 
Promotions:
100% SuperCharged Bonus  
100% Credit Bonus
30%   Rescue Bonus  
 

Dealing:
Straight Through Processing (STP

Spread:
Variable, from 1 pip  (no commision)
Variable, from 0.02 pips  ($6 or $10 commision)

Deposit/Withdraw
Bank Wire, Credit card,  Skrill (MoneyBookers), WebMoney, Neteller, Perfect Money, CashU

Platform:
Metatrader, Currenex, Web Trader, iPhone Trader, druidTrader, PAMM, FIX/API

Extra Services:
Technical anaysis from TradingCentral.com
MYFX platform for deposits over $2000

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