Shinwa Forex Broker

Note: Shinwa's official website: https://www.shinwabank.co.jp/ is currently inaccessible normally.Shinwa Review SummaryFounded1996Registered Country/RegionJapanRegulationNo RegulationMarket InstrumentsForex, CFDs on stocks, indices, commodities, and cryptocurrenciesDemo Account✅LeverageUp to 1:500EUR/USD SpreadFrom 0.2 pipsTrading PlatformsWeb-based trading platform and mobile trading appMinimum Deposit$100Customer Support/ Shinwa is an unregulated brokerage company based in Japan. It claims to provide Forex, CFDs on stocks, indices, commodities, and cryptocurrencies with web-based trading platform and mobile trading app.Pros and ConsPros Cons Various Trading InstrumentsNon-functional WebsiteTight SpreadsLack of TransparencyPopular Payment MethodsNo RegulationIs Shinwa Legit? Shinwa currently lacks valid regulation. It is not sure whether its domain was registered on Oct 2, 1996. We advise you to choose regulated brokers.What Can I Trade on Shinwa? Shinwa claims to offer indices, Forex, commodities, CFDs on stocks, and cryptocurrencies.Tradable Instruments Supported Forex✔CFDs✔Commodities✔Indices✔Cryptocurrencies✔Shares❌ETFs❌Bonds❌Mutual Funds❌Account Type Shinwa provides Cent Account, Standard Account, and Pro Account.Account TypeMinimum DepositCent Account$100Standard Account$2500Pro Account$100000Leverage Shinwa offers leverage up to 1:500 on forex pairs and up to 1:20 on CFDs on stocks, indices, commodities, and cryptocurrencies. Leverage allows you to trade with a larger position than you would be able to with your own capital. However, it is important to use leverage carefully, as it can amplify your losses as well as your profits.Spread & Commission Shinwa's spreads are competitive, starting at 0.2 pips on EUR/USD. The company also charges commissions on some trades. The commission rate varies depending on the instrument and the account type.Account TypeSpreadCommissionCent Account0.2 pips0.01 per lotStandard Account0.2 pips0.02 per lotPro Account0.1 pips0.03 per lotTrading Platform Shinwa offers a web-based trading platform and mobile trading app.Deposit and Withdrawal Shinwa supports payment methods through credit cards, debit cards, wire transfers, and e-wallets.