Rakuten Bank Broker Review

　　

Rakuten Bank 2025 Review: Everything You Need to Know

　　Summary: Rakuten Bank has established itself as a reputable online broker, offering a user-friendly platform and competitive trading conditions. Key features include a low minimum deposit requirement and a variety of educational resources. However, potential users should be aware of the differences in trading conditions across its various entities.

　　Note: It's essential to consider that trading conditions may vary significantly depending on the regulatory entity under which you operate. This review aims to provide a fair and accurate assessment based on comprehensive research.

　　

Ratings Overview

Category	Rating (out of 10)
Account Conditions	8
Tools and Resources	9
Customer Service and Support	8
Trading Experience	8
Trustworthiness	9
User Experience	8
Additional Features	7

　　How We Rate Brokers: Our ratings are based on a combination of user feedback, expert analysis, and factual data from reputable sources.

　　

Broker Overview

　　Founded in 1999, Rakuten Bank operates under the umbrella of Rakuten Group, a leading internet services company based in Japan. The broker provides access to a range of financial instruments, including forex, commodities, and CFDs. It offers trading through the widely recognized MetaTrader 4 platform, as well as its proprietary Rakuten FX platform. Rakuten Bank is regulated by multiple authorities, including the Australian Securities and Investments Commission (ASIC) and the Financial Services Agency (FSA) in Japan.

　　

Detailed Review

　　

Regulatory Regions

　　Rakuten Bank operates in various jurisdictions, including Australia, Japan, Hong Kong, and Malaysia. Each entity is regulated by its respective financial authority, ensuring a level of security and compliance for traders. For example, the Australian entity is governed by ASIC, which is known for its stringent regulatory standards.

　　

Deposit/Withdrawal Currencies/Cryptocurrencies

　　The broker supports multiple currencies for deposits and withdrawals, including AUD, USD, EUR, and GBP. While there are no deposit fees for domestic transfers, international transactions may incur fees. Notably, Rakuten Bank does not currently support cryptocurrency trading directly, although it offers CFDs related to cryptocurrencies.

　　

Minimum Deposit

　　The minimum deposit requirement at Rakuten Bank is set at a competitive $50, making it accessible for new traders looking to start their trading journey without a significant financial commitment.

　　

Bonuses/Promotions

　　Rakuten Bank occasionally offers promotional bonuses, but specifics can vary. New users are encouraged to check the website or contact customer service for the latest offers and conditions.

　　

Tradable Asset Classes

　　The broker provides a diverse range of tradable asset classes, including forex pairs, commodities, indices, and ETFs. However, some reviews indicated that the selection may be limited compared to other brokers, particularly in terms of stocks.

　　

Costs (Spreads, Fees, Commissions)

　　Rakuten Bank is noted for its low trading costs, with spreads starting as low as 0.5 pips for major currency pairs. The broker does not charge commissions on trades, which is a significant advantage for frequent traders. However, there may be withdrawal fees associated with certain payment methods, such as a $25 fee for international wire transfers.

　　

Leverage

　　Leverage options vary based on the regulatory entity. For instance, the Australian entity currently offers leverage up to 1:30, while other branches may provide higher leverage ratios, such as 1:400 for professional accounts.

　　

Allowed Trading Platforms

　　Rakuten Bank primarily offers the MetaTrader 4 platform, known for its robust features and user-friendly interface. Additionally, the proprietary Rakuten FX platform provides a tailored trading experience, particularly for users in specific regions.

　　

Restricted Regions

　　While Rakuten Bank welcomes clients from many countries, certain regions are restricted from opening accounts, including the United States and a few others. Prospective users should verify their eligibility based on their location.

　　

Available Customer Service Languages

　　Customer support is available in multiple languages, including English, Japanese, and Chinese. The broker provides 24/5 support through various channels, including live chat, email, and phone.

　　

Repeated Ratings Overview

Category	Rating (out of 10)
Account Conditions	8
Tools and Resources	9
Customer Service and Support	8
Trading Experience	8
Trustworthiness	9
User Experience	8
Additional Features	7

　　

Detailed Breakdown

　　

Account Conditions

　　Rakuten Bank offers competitive account conditions, with a low minimum deposit and a straightforward account opening process. The available account types cater to both beginner and experienced traders, although conditions may vary based on the regulatory entity.

　　

Tools and Resources

　　The broker excels in providing educational resources, including webinars, articles, and a demo account for practice trading. This commitment to user education enhances the overall trading experience.

　　

Customer Service and Support

　　Rakuten Bank's customer service is well-rated, with quick response times and knowledgeable support staff. However, the service is not available on weekends, which may be a drawback for some traders.

　　

Trading Experience

　　The trading experience is generally positive, with a user-friendly platform and competitive spreads. The availability of both MetaTrader 4 and Rakuten FX offers flexibility for traders.

　　

Trustworthiness

　　With multiple regulatory approvals and a strong corporate background, Rakuten Bank is considered a trustworthy broker. The segregation of client funds and negative balance protection further enhance its reliability.

　　

User Experience

　　Users generally report a positive experience with the broker, citing ease of use and efficient trading tools. However, some have noted that the educational materials could be expanded to cover more advanced topics.

　　

Additional Features

　　While Rakuten Bank offers a solid set of features, such as social trading and advanced charting tools, some users have expressed a desire for more innovative functionalities, particularly in the mobile app.

　　In conclusion, Rakuten Bank stands out as a reliable and user-friendly broker for both novice and experienced traders. Its competitive pricing, robust regulatory framework, and comprehensive educational resources make it a compelling choice in the online trading landscape. However, potential users should be mindful of the differences in trading conditions across its various entities, as these can significantly impact their trading experience.