WikiFX
2019-10-23
|Brokers
About WikiFX
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Rating
/10
The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints!
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Business Index
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Market Making(MM)
ASIC Regulated
Retail Forex License
FSA Regulated
Leveraged foreign exchange trading
SFC Regulated
Company Name:
Rakuten Securities Hong Kong Limited.Company Abbreviation:
Rakuten Securities AustraliaPlace of registration:
Hong Kong
Regulatory Status:
RegulatedCustomer Service Email Address:
info@sec.rakuten.com.hkCustomer Service Phone Number:
(852) 6547-2442Company summary
Rakuten Securities claims that its regulation by ASIC will come into effect on March 29, 2021, but no specific regulation number is provided, which means that Rakuten Securities is currently an unregulated broker, and investors' trading activities and funds safety on the Rakuten Securities platform cannot be effectively protected. Investors should be careful to stay away from Rakuten Securities as a trader. About MoreWikiFX Risk Alerts
Previous Detection: 2021.06.18 Risk: 1 Item
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My account has been frozen cuz the money in my account is not from the bank card which belong to me. Ask for over 20$ margin to unfreeze it. But after I paid the margin, they didn’t keep their promise. My application has been refused now for platform maintenance. And the platform is closed now.
Awer
2021/05/18
China
You even can't withdraw funds after paying the tax. Cheat you into depositing money again and again. You can't get the money back. Is there anybody who has the same experience as me.
FXEMSceh1808
2020/12/06
China
Have to pay 20% tax to the broker but you can't withdraw funds. I was cheated of a hundred thousand yuan.
FXEMSceh1808
2020/12/05
China
I agree if I should pay individual income tax. But why I should transfer the tax to a personal account? And my account will be frozen in 48 hours if I don't pay the money
FXEMSceh1808
2020/12/04
China
I didn’t want to expose the platform at first, but I am really angry when I saw Rakuten Securities’ s score rank at No. 7. I would like to share you my sad story related to this platform. I deposited in the account on 2 Jan., 2019, when the server have been offline for several hours. When I asked for explanations, the employees made no reply. The server went back to normal on 3 Jan. before the market opened and when the market opened, a mega JPY move showed up. Now I should tell you what shameless things they did. First, the platform said there was a fixed spread in 95% of a day. However, pay attention to the rest of 5% when spreads were unfixed and big movement happened with unimaginable big spreads. I mean, when the market opened on 3 Jan., you had to pay a service fee of over 1,500 dollars if you traded one hand USDJPY. Is it exciting? This is the first shameless thing they did. Second, When there were big movements in the market, they would close trading. It is impossible for them to stop doing something before wipe out your account. When you got profits, you didn’t expected to sale orders, and when you lost, you couldn’t cover and lock position. There was nothing you could do. When your account wiped out, the platform could close out the orders. The market movement depends on its will. Third, They will give you cold shoulder when you are caught into problems. They will pass the buck with an excuse of mobility. Is it shameless for the platform to deny the evidence? The trading journal won’t tall lies. The above are enough. Keep away from it, everyone!
FXUDHpyx8391
2019/07/04
China
The Australian Securities and Investments Commission (ASIC) is an independent Australian government body that acts as Australia's corporate regulator, which was established on 1 July 1998 following recommendations from the Wallis Inquiry. ASIC's role is to enforce and regulate company and financial services laws to protect Australian consumers, investors and creditors. ASIC's authority and scope were determined by the Australian Securities and Investments Commission Act, 2001.
Current Status:
RegulatedLicense Type:
Market Making(MM)Regulated in Country/Area
Australia
Regulatory License No.：
418036Email Address of Licensed Institution :
takayoshi.mizuno@sec.rakuten.com.auLicense Type:
No SharingWebsite of Licensed Institution :
Expiry Date :
--Address of Licensed Institution :
Suite 5 Level 9, 3 Spring Street, SYDNEY NSW 2000Phone Number of Licensed Institution :
0292472483Licensed Institution Certified Documents :
Rakuten ASIC监管信息截图1_20200402 View Certified Documents 乐天澳大利亚 ASIC监管信息 View Certified Documents Rakuten ASIC监管信息截图2_20200402 View Certified Documents
The Financial Services Agency (FSA) oversees all financial services providers, including Forex brokers, in Japan. The ultimate aim of Japan's FSA is to maintain the country’s financial system and ensure its stability. It is also responsible for protecting security investors, insurance policyholders, and depositors. It achieves its aims in a number of different ways including planning and policy making, supervising financial services providers, overseeing securities transactions, and inspecting financial institutions in the private sector. When the FSA was first created it was merely an administrative body. However, its responsibilities were widened in 2001 when it became the external representative of the Cabinet Office of Japan. It took over the responsibilities of the Financial Reconstruction Committee, and also took over responsibility for failed financial institutions.Today, the FSA Japan is held accountable to the Japanese Minister of Finance and enjoys a wide scope of responsibility.
Current Status:
RegulatedLicense Type:
Retail Forex LicenseRegulated in Country/Area
Japan
Regulatory License No.：
5010701021660Email Address of Licensed Institution :
--License Type:
No SharingWebsite of Licensed Institution :
Expiry Date :
--Address of Licensed Institution :
東京都港区南青山二丁目6番21号Phone Number of Licensed Institution :
0367391700Licensed Institution Certified Documents :
Rakuten Securities FSA20210408更新 View Certified Documents Rakuten FSA牌照 View Certified Documents
The Securities and Futures Commission (SFC) is an independent statutory body set up in 1989 to regulate Hong Kong's securities and futures markets. The SFC derives its investigative, remedial and disciplinary powers from the Securities and Futures Ordinance (SFO) and subsidiary legislation. Operationally independent of the Government of the Hong Kong Special Administrative Region, the SFC is funded mainly by transaction levies and licensing fees. As a financial regulator in an international financial centre, the SFC strives to strengthen and protect the integrity and soundness of Hong Kong's securities and futures markets for the benefit of investors and the industry.
Current Status:
RegulatedLicense Type:
Leveraged foreign exchange tradingRegulated in Country/Area
Hong Kong
Regulatory License No.：
AIM232Email Address of Licensed Institution :
info@sec.rakuten.com.hkLicense Type:
No SharingWebsite of Licensed Institution :
Expiry Date :
--Address of Licensed Institution :
Unit 501 5/F Nexxus Building, 41 Connaught Road Central, Central, Hong KongPhone Number of Licensed Institution :
--Licensed Institution Certified Documents :
乐天证券监管截图2 View Certified Documents Rakuten SFC牌照 View Certified Documents Rakuten SFC牌照信息截图20200402 View Certified Documents
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2021.06.18 updated
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Basic Information & Regulators of Rakuten Securities
Rakuten Securities Australia (RSA) is an index, metals, and CFD broker based in Tokyo, Japan, and is one of the major online traders in Japan, aiming to provide traders with competitive spreads, excellent customer service, and has over 2.6 million customers to date. The official website of Rakuten Securities shows the regulation by the Australian Securities and Investments Commission will be effective on March 29, 2021.
Safety Analysis of Rakuten Securities
Rakuten Securities claims that its regulation by ASIC will come into effect on March 29, 2021, but no specific regulation number is provided, which means that Rakuten Securities is currently an unregulated broker, and investors' trading activities and funds safety on the Rakuten Securities platform cannot be effectively protected. Investors should be careful to stay away from Rakuten Securities as a trader.
Market Instruments of Rakuten Securities
Rakuten Securities provides traders with popular financial tradable instruments, mainly popular Forex currency pairs, gold, silver, and index CFDs.
Accounts & Leverage of Rakuten Securities
Rakuten Securities offers investors 100x leverage Accounts/Standard Accounts and 400x Leverage Accounts. The minimum deposit for both accounts is $50, and the minimum trade size is 0.01 lots. Leverage is 1:30 for major currency pairs, 1:20 for minors, 1:10 for commodities, 1:2 for cryptocurrencies, and 1:5 for stocks.
Spreads & Commissions of Rakuten Securities
For 100x leveraged accounts, the EURUSD spread is 0.5 pips, GBPUSD spread at 0.8 pips, AUDUSD spread at 0.5 pips, USDJPY spread at 0.6 pips, XAUUSDspread at 1.5 pips, XAGUSD spread at 3.0 pips, AUS200 spread at 1.5 pips, and Germany30 spread at 0.6 pips. For 400x leveraged accounts, the EURUSD spread is 0.8 pips, GBPUSD spread at 1.1 pips, AUDUSD spread at 1.1 pips, USDJPY spread at 0.9 pips, XAUUSD spread at 1.9 pips, XAGUSD spread at 3.5 pips, AUS200 spread at 1.7 pips, and German30 spread at 0.8 pips. The overnight interest rate is -4.5 for EURUSD, -2 for GBPUSD, and -3 for AUDUSD. Rakuten trade does not charge trading commissions for trading on either account.
Trading Platform Available of Rakuten Securities
Rakuten Securities offers traders the flexibility to choose from the market-leading and highly acclaimed MT4 trading platform and MT4 for Android, MT4 for iOS, and MT4 for Windows. MT4 is the ideal platform for the forex trading industry, with a simple and intuitive user-friendly interface, robust data analysis, and technical indicator tools. MT4 allows traders of all levels to develop appropriate trading strategies to help them get ahead in the financial markets.
Deposit and withdrawal of Rakuten Securities
Rakuten Securities welcomes various convenient deposit and withdrawal methods, mainly NAB (domestic and international wire transfers), VISA, MASTERCARD credit/debit cards, NETELLER, Skrill, wire transfers. Traders who withdraw funds via NETELLER & Skrill are subject to a 2% fee.
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Official Email：wikifx001@163.com；
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Customer Service Phone Number：（HK）+00852 54200870
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Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.
Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.
Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.
