SHIMADAI Review Summary Registered Country/Region Japan Regulation FSA Market Instruments Stock, mutual fund, the foreign bonds Demo Account Unavailable Minimum Deposit 2000 yen (mutual fund) Customer Support (9:00~17:00) Phone What is SHIMADAI？ Shimadai Securities is a long-established securities company in Toyama, Japan, with a history of more than 100 years. It offer a diverse range of products, including stocks, mutual funds, foreign bonds. They focus on serving the local community in a customer-oriented and community-based manner. If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics. Pros & Cons Pros Cons Regulated by FSA Non- English website provided Long-established reputation No 24/7 customer support Community-based approach Unclear Trading Conditions (Account, Spreads, Commissions, Swaps) No demo accounts Pros: - Regulated by FSA: Being regulated by the Financial Services Agency (FSA) adds credibility to Shimadai Securities and provides assurance to customers regarding the safety and security of their investments. - Long-established reputation: With a history of over 100 years, Shimadai Securities has built a strong reputation in the industry. This indicates stability and reliability, which can be appealing to potential clients. - Community-based approach: Shimadai Securities' community-based approach allows them to understand and cater to the specific needs of their local customer base. This personalized approach can enhance customer satisfaction and foster long-term relationships. Cons: - Non-English website provided: The fact that Shimadai Securities does not provide an English website could be a significant drawback for potential customers who do not understand the Japanese language. It limits accessibility and hinder communication. - No 24/7 customer support: Shimadai Securities is available for customer support from 9:00 to 17:00. This may not be convenient for customers who require assistance outside of these hours. - Unclear trading conditions: The lack of clear information regarding trading conditions, including account types, spreads, commissions, and swaps, can make it challenging for potential customers to evaluate the costs and benefits of trading with Shimadai Securities. - No demo accounts: The absence of demo accounts deprives potential clients of the opportunity to test the platform and familiarize themselves with the trading experience before committing real funds. Is SHIMADAI Safe or Scam？ SHIMADAI, a Forex broker in Japan, is regulated by the Financial Services Agency (FSA), which oversees all financial services providers. They hold a Retail Forex License with License No. 北陸財務局長（金商）第6号. The broker has been operating for multiple years, and it has received positive feedback from numerous customers. From the provided information, it can be inferred that SHIMADAI is a dependable and credible broker. Market Instruments SHIMADAI offers stocks, mutual funds, and foreign bonds. - Stocks: SHIMADAI allows investors to trade stocks, which represent partial ownership in publicly listed companies. Investors can buy and sell shares of these companies on stock exchanges, aiming to benefit from price movements and potential dividends. - Mutual Funds: SHIMADAI provides access to mutual funds, which are investment vehicles that pool money from multiple investors to invest in a diversified portfolio of securities. These funds are managed by professional fund managers who make investment decisions on behalf of investors. - Foreign Bonds: SHIMADAI also offers trading of foreign bonds, which are debt instruments issued by foreign entities. Investors can buy these bonds to earn interest income over a specified period. Foreign bonds allow investors to diversify their investment portfolios and potentially benefit from higher returns or exposure to foreign markets. Minimum Deposit The minimum deposit required by SHIMADAI depends on the specific investment instruments and trading options chosen. - Stocks: As an example, if you wish to purchase at least 100 shares of Mizuho Financial Group, the minimum deposit would be around 25,000 yen. However, it's worth noting that the minimum deposit requirement may vary for different stocks and can be subject to change. - Mutual Funds: Many investment trusts, or mutual funds, can be purchased from approximately 100,000 yen. This minimum deposit amount may vary depending on the specific mutual fund and investment strategy chosen. - Foreign Bonds: The minimum deposit for foreign bonds can vary depending on the brand and currency. Generally, some foreign bonds can be purchased with a minimum deposit of around 200,000 yen. However, it's important to note that the minimum deposit requirement may differ based on the specific bond offering. Customer Service Customers can get in touch with customer service line using the information provided below: Store Telephone Number Business Hours Closed Toyama Main Store 076-423-8331 9:00~17:00 Saturdays, Sundays, holidays Kurobe Branch 0765-52-2200 Whats more, SHIMADAI provides a Frequently Asked Questions (FAQ) section on their website to assist their clients with commonly asked questions and provide relevant information. The FAQ section aims to address common queries and concerns that investors may have regarding the company's services, processes, and investment opportunities. SHIMADAI offers online messaging as part of their trading platform. This allows traders to communicate with customer support or other traders directly through the platform. Online messaging can be a convenient way to get real-time assistance or to engage in discussions with fellow traders. Conclusion SHIMADAI is a Forex broker based in Japan. They offer a range of products and services related to foreign exchange trading. As a regulated entity, SHIMADAI falls under the oversight of FSA in Japan, which ensures that they adhere to regulatory standards and guidelines. Overall, SHIMADAI appears to be a reliable and trustworthy broker, given its regulatory status. However, it also has many drawbacks, such as non-English websites, unclear transaction information and so on. Frequently Asked Questions (FAQs) Q 1: Is SHIMADAI regulated？ A 1: Yes. It is regulated by FSA. Q 2: How can I contact the customer support team at SHIMADAI？ A 2: You can contact via phone, 076-423-8331/ 0765-52-2200. Q 3: Does SHIMADAI offer demo accounts？ A 3: No. Q 4: Is SHIMADAI a good broker for beginners？ A 4: No. It is not a good choice for beginners. Although it is regulated, it has many drawback such as no demo accounts, unclear trading conditions and limited communication channels. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.