CHUKYO Forex Broker

CHUKYO Review SummaryFounded1943Registered Country/RegionJapanRegulationNot regulatedMarket InstrumentsForex, Indices, Shares, Commodities, ETFs, Crypto, Mutual Funds, Loans, Insurance, Defined Contribution PensionDemo Account❌LeverageNot mentionedSpreadNot mentionedTrading PlatformChukyo Direct Net Version, Chukyo Investment Trust Direct, Chukyo Business Direct, Chukyo Forex WEBMin Deposit500 USD (for Foreign Currency Time Deposits)Customer SupportPhone: 52-211-0345CHUKYO Information THE CHUKYO BANK, Ltd. is a Japanese financial institution that was established in 1943. It's headquartered in Nagoya and operates primarily in Japan. The bank provides a variety of financial services to both individual and corporate clients, such as banking, credit card services, and loan guarantees. However, it lacks regulation by any well-known financial institution.Pros & ConsProsConsDeep understanding of the Japanese marketLack of regulationConvenient online bankingWebsite and services only in JapaneseCan provide customized financial adviceThere are no MT4 or MT5 platforms availableComplex fee structureIs CHUKYO Legit? CHUKYO is not regulated by other well-known regulatory authorities.What Can I Trade on CHUKYO? CHUKYO provides a full suite of financial services, encompassing investment products, lending options, insurance coverage, and retirement planning.Tradable InstrumentsSupportedForex✔Indices✔Shares✔Metals❌Commodities✔ETFs✔Crypto✔Energies❌Futures❌Mutual Funds✔Loans✔Insurance✔Defined Contribution Pension✔Account Type CHUKYO offers personal accounts for savings, borrowing, and investment, including online platforms like Chukyo Direct Net Version and Chukyo Investment Trust Direct. For corporate customers, CHUKYO provides full business solutions ranging from management and fundraising to accountancy and international business support. Online platforms such as Chukyo Business Direct and Chukyo Forex WEB frequently offer these services.CHUKYO Fees Compare with other trading institution, the fees structure of CHUKYO is relatively complex. Domestic Transfers Within the same branch fees start from 330 yen for transfers under 30,000 yen. To other banks fees can go up to 880 yen depending on the destination. ATM Fees 220 yen for transfers under 30,000 yen using the Chukyo Direct Net Version. And 440 yen for transfers over 30,000 yen via the same method. Other Fees A 440-yen fee is charged for remittances within the banks branches when remittance, reissuance of documents needs 1,100 yen. As for loan-related fees, partial early repayments or interest rate changes may range from free to 55,000 yen, depending on the specific situation.Trading PlatformTrading PlatformSupportedAvailable DevicesSuitable for which type of tradersMT4❌//MT5❌//<Chukyo> Direct Net Version✔Personal online banking platformAccount informationTransactionsFund managementIndividual customersBank Pay✔QR code payment serviceInstant withdrawals for shopping and diningIndividual customers using smartphones<Chukyo> Business Direct✔Virtual bank counterCost savings on transfer feesEnhanced securityBusinesses<Chukyo> Foreign Exchange WEB✔Corporate and sole proprietor foreign exchange transactionsOverseas remittanceImport letters of credit managemenTransaction history.Businesses involved in international tradeDeposit and Withdrawal The minimum deposit for Chukyo Bank's Foreign Currency Time Deposits is 500 USD, with a flexible range of 1 to 12 month periods. Deposit OptionsDeposit OptionsMin. DepositFeesProcessing TimeForeign Currency Time500 USD (or equivalent)1 per USD/EUR/Australian dollarsame dayOrdinary DepositsNone\same dayOrdinary Deposits for PaymentsNone\same daySavings-Type Fixed DepositsVaries based on product type\same day Withdrawal OptionsWithdrawal OptionsMin. WithdrawalFeesProcessing TimeForeign Currency TimeVaries based on deposit amount1 per USD/EUR/Australian dollarsame dayOrdinary DepositsNone\same dayOrdinary Deposits for PaymentsNone\same daySavings-Type Fixed DepositsVaries based on deposit amount and term\same day