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Influence index NO.1
PayPay Securities Corporation
Pyramid scheme complaint
General Information & Regulation of PayPay Securities
PayPay Securities was established in 2013 under the name of My Banker and changed its name to One Tap BUY Co., Ltd in 2015 and registered its financial instruments business in December of the same year. In 2017, the Marugoto Japan Stock (Japan ETF) service was launched, and on March 21, the company applied for a “stock” investment service, and on July 24, it began processing individual Japanese stocks. On December 6, the Marugoto US ETF service was launched, and in 2019, the service for CFDs on Japanese stocks was launched, and in 2021, the company name was changed to PayPay Securities Co. PayPay Securities currently holds a retail foreign exchange license from the Japan Financial Services Agency under license number 3010001156746.
Products & Services
PayPay Securities offers stock products mainly in U.S. stocks (individual stocks, BDC stocks, and exchange-traded funds) and Japanese stocks (individual stocks, exchange-traded funds, REITs).
Minimum Deposit of PayPay Securities
The minimum deposit part is not fully disclosed on the PayPay Securities website. Traders are advised to contact PayPay Securities customer support staff to get it clear.
Leverage of PayPay Securities
Still, leverage related information is not mentioned on the PayPay Securities website, So it is unknown whether leverage can be applied for trading on this platform.
Spreads of PayPay Securities
According to what accounced on the PayPay Securities, the spread is around 0.5% for forex trading. The exchange rate is set by PayPay Securities as per Forex market trend, 35 Jen added to 1USD when buying and exchange rates substracted when selling.
Account Opening of PayPay Securities
To open an account with PayPay Securities, investors (who must be 19 years of age or older) can complete an account opening the application by installing the company's smartphone application (Japanese and U.S. stock app) on their smartphones, which generally takes 2-3 weeks to successfully open an account, and cannot open multiple accounts.
Fees of PayPay Securities
Each time a contract is signed, PayPay Securities will charge the investor the amount of the prescribed transaction fees publicly. The price of trading from 9:30-16:00 local time and 23:30-6:00 Japan time (summertime: 22:30-5:00) is the “base price” multiplied by 0.7%. (See PayPay Securities website for details).
Deposit & withdrawal of PayPay Securities
Investors can transfer funds directly to their securities trading account with PayPay Securities via bank transfer. In addition to bank transfers, investors who have deposit accounts and savings accounts with financial institutions such as Mizuho Bank, Sumitomo Mitsui Banking Corporation, Mitsubishi UFJ Bank, Japan Post Bank, and Nantou Bank also settle their purchases of stocks via automatic transfer. Withdrawal requests made before 14:30 on a bank business day are processed the same day, and withdrawals after 14:30 are processed the next day. Withdrawals from the sale of shares are not available immediately and take 3-4 business days to be processed.
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