Kyokuto Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
Risk Control
Software Index
They offer a NISA account for tax-free investing, but there's a cap at 1.2 million yen per year. Leverage info is a bit elusive. Fees? Yeah, they exist. Up to 1.254% for domestic stocks. It's not a steal, but it's not a rip-off either.In a nutshell, Kyokuto Securities is cool, but watch out for those fees.
Kyokuto, a Japanese brokerage firm, has garnered mixed reviews in the Forex trading community. While it is recognized for its long-standing presence since 1947, the consensus among users and experts suggests caution due to regulatory concerns and user experiences. Key features include its limited account types and the absence of popular trading platforms like MT4 or MT5.
Note: It is crucial to consider the differences in regulatory environments across regions, as Kyokuto operates under the Japanese Financial Services Agency (FSA), which is often perceived as less stringent compared to other global regulators.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 5 |
| Customer Service and Support | 6 |
| Trading Setup/Experience | 5 |
| Trustworthiness | 4 |
| User Experience | 5 |
| Overall | 5.3 |
We score brokers based on user feedback, expert analysis, and regulatory compliance.
Established in 1947, Kyokuto Securities Co., Ltd. is based in Tokyo, Japan. It primarily offers trading services in Forex and Contracts for Difference (CFD). However, it does not support popular trading platforms like MT4 or MT5, which may deter some traders. The firm is regulated by the Financial Services Agency (FSA) in Japan, although this regulation is often viewed as less robust compared to other jurisdictions.
Regulated Areas/Regions:
Kyokuto operates mainly in Japan and is regulated by the FSA. However, this regulation has been criticized for its leniency, prompting concerns over the safety of client funds.
Deposit/Withdrawal Currencies/Cryptocurrencies:
The platform primarily supports Japanese Yen (JPY) for deposits and withdrawals. There is no indication of support for cryptocurrencies, which may limit options for traders interested in digital assets.
Minimum Deposit:
Kyokuto does not offer different account types, which means that the minimum deposit requirements are not clearly defined across various account levels. This can lead to confusion for prospective clients.
Bonuses/Promotions:
The broker does not seem to provide any bonuses or promotional offers, which is a common feature among many competing brokers.
Tradable Asset Classes:
Kyokuto offers a limited range of assets, primarily focusing on Forex and CFDs. This narrow offering may not meet the diverse needs of all traders.
Costs (Spreads, Fees, Commissions):
Fee structures are somewhat opaque, with reports indicating that spreads can be higher than average. Additionally, there are mentions of fees that may apply to specific transactions, although detailed breakdowns are lacking.
Leverage:
Information on leverage is not explicitly stated in available reviews, which is a red flag for traders who rely on leverage to enhance their trading strategies.
Allowed Trading Platforms:
Kyokuto does not support popular trading platforms like MT4 or MT5, which can limit trading functionalities and tools that many traders are accustomed to.
Restricted Regions:
The broker primarily serves clients within Japan, and there is no clear indication of its ability to accept clients from other regions.
Available Customer Support Languages:
Customer support appears to be limited to Japanese, which could pose challenges for non-Japanese speaking clients.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 5 |
| Customer Service and Support | 6 |
| Trading Setup/Experience | 5 |
| Trustworthiness | 4 |
| User Experience | 5 |
| Overall | 5.3 |
Account Conditions (6/10):
Kyokuto offers a singular account type, which limits flexibility. The absence of tiered accounts can be a disadvantage for traders looking for customized options.
Tools and Resources (5/10):
The broker lacks advanced trading tools and educational resources, which are crucial for both novice and experienced traders.
Customer Service and Support (6/10):
While customer service is available, it is primarily in Japanese, which may limit accessibility for international clients.
Trading Setup/Experience (5/10):
The lack of popular trading platforms like MT4 or MT5 can hinder the trading experience, making it less appealing for many traders.
Trustworthiness (4/10):
Concerns about regulatory oversight and user complaints about withdrawal issues contribute to a lower trust rating.
User Experience (5/10):
Mixed reviews from users indicate that while some appreciate the firm's reliability, others report negative experiences, particularly regarding customer support and withdrawal processes.
In conclusion, while Kyokuto has a long history in the brokerage industry, potential clients should weigh the pros and cons carefully. The lack of regulatory strength, limited trading options, and mixed user experiences suggest that traders may want to explore alternative brokers before making a commitment. Overall, the Kyokuto review indicates a need for caution among prospective clients.
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