Registered Country/Region Japan Regulation FSA Minimum Deposit N/A Maximum Leverage 1:25 Minimum Spreads 0.2 pips on the EUR/USD pair Trading Platform Properitary trading platform Trading Assets Foreign Exchange, Investment Trust Payment Methods Quick Transfer and Transfer Deposit. Customer Support Phone, Email General Information & Regulation YJFX! is a Yahoo Group company, launched in 2003, headquartered in Tokyo. YJFX! holds a retail foreign exchange license issued by the Financial Services Agency of Japan (regulatory certificate number: 1011001041056). YJFX Inc announced a planned name change, which is set to become effective on September 27, 2021. YJFX changed its name to Gaika ex by GMO (Foreign Currency ex by GMO Co., Ltd ) Market Instruments Gaika ex by GMO provides investors with financial instruments such as foreign exchange currency pairs and investment trusts, while information on other financial instruments is not fully disclosed. Minimum Deposit The minimum deposit part remains not fully disclosed on forex trading and other products trading. Investors should ask Gaika ex by GMO in advance before starting with this broker. How to open an account with Gaika ex by GMO ？ There are four easy and straightforward steps leading you to opening an account and start trading with Gaika ex by GMO: Step one: Fill in the account opening form Step 2: Submit identify verification documents and documents with My number. To apply, you will need to submit “personal identification documents” and “documents with My Number”. Please submit the “identify verifcation documents” via the web or email, and submit the “documents containning your number” from the designated My number web upload screen. Step 3: Notification of login information. This broker will email you the login information required for trading. Step 4: Start trading. You can make a transaction by transferring funds to its designated deposit account or depositing funds by quick deposit. Leverage Accoding to Japanese laws, the maximum trading leverage ratio avilable for forex trading is up to 1:25. Investors are advised to use leverage with caution, for leverage can magnify potential profits but also increase risk to a large extent. Spreads & Commissions Spreads vary depending on specific time. For example, during the 9:00 AM to next morning 03:00 AM, spread on EUR/JPY from 0.2 pips, EUR/JPY 0.5 pips, EUR/USD 0.4 pips, AUD/JPY 0.7 pips, while outside the period, EUR/JPY spread turn 4.0 pips, EUR/JPY 6.0 pips, EUR/USD 4.0 pips, AUD/JPY 6.0 pips. Still, YJFX requires no commissions for forex trading. Trading Platforms Gaika ex by GMO offers a forex trading tool application equipped with a full range of ordering features, including one-click ordering, which allows clients to place orders with a single click while checking market prices and account status in real-time. Deposit and Withdrawal Gaika ex by GMO supports two types of payment methods, namely Quick Transfer and Transfer Deposit. Quick Deposit is an online deposit service that can be used 24 hours a day if the customer has an Internet bank account with one of the company's affiliated financial institutions. Regarding transfer deposits (in Japanese yen/foreign currency), the transfer fee for each financial institution is borne by the customer, while the quick transfer (in Japanese yen only) is free of charge. For customer withdrawals, the fee is free for Japanese yen and 1,500 yen per withdrawal for foreign currencies. Customer Support Clients with any inquiries or questions can visit the FAQ section of Gaika ex by GMO first where they can find basic and general answers direct to their trading process. If they need staff services, they can contact this broker through telephone, email. Pros & Cons Pros Cons FSA-regulated No clear minimum deposit information Forex trading Available Conservative leverage capped at 1:25 Competitive forex spreads Swap fees charged A series of trading tools Demo account available Frequently Asked Questions Can anyone open an account ？ Basically, anyone can open an account as long as they meet the criteria set by this broker. How long does it take to withdraw？ In the case of real-time withdrawal (withdrawal request amount is within 3 million yen Withdrawal requests received between 8:50 and 14:30 (on-time) on bank business days are, in principle, immediately withdrawn. Withdrawal requests received outside of bank business hours and bank holidays such as weekends and holidays will be processed in principle after 8:50 on the next bussiness day. In the case of normal withdrawal (withdrawal amount request amount is over 3 million yen) Withdrawal requests received by 24:00 will be withdrawn sequentially from the morning of the next bank business day, in principle. When will the swap points be reflected ？ Swap points are granted by crossing the New York close (=rollover) while holding a position, and are sequentially reflected in the total assets. What is the difference between leverage course and effective leverage ？ The leverage course represents the maximum number of times the customer's assets deposited in currency pairs tradable. Effective leverage represents the real operational leverage, and by dividing the position evaluation value by the effective margin amount, it is possible to calculate how many times it shows whether you are trading with.