Shikoku 2025 Review: Everything You Need to Know
In this comprehensive review of Shikoku, we delve into the experiences of users and expert opinions on this forex broker. Overall, Shikoku is viewed as a legitimate broker, regulated by Japan's Financial Services Agency (FSA), with a diverse range of market instruments. However, there are concerns regarding customer service responsiveness and the absence of a dedicated trading platform.
Note: It's important to highlight that Shikoku operates under different entities across regions, which could affect user experience and regulatory compliance. This review aims for fairness and accuracy by synthesizing information from various sources.
Ratings Overview
We assess brokers based on user feedback, regulatory standing, and overall service quality.
Broker Overview
Founded approximately 10 to 15 years ago, Shikoku Alliance Securities Co., Ltd. is a regulated financial institution based in Japan. The broker operates under the supervision of the Financial Services Agency (FSA) and holds a retail forex license. Shikoku provides access to a variety of financial products, including domestic and foreign stocks, bonds, and structured products. However, it does not support popular trading platforms like MT4 or MT5, which could be a drawback for some traders.
Detailed Breakdown
Regulated Areas
Shikoku is primarily regulated in Japan by the FSA, ensuring compliance with local financial laws. This regulation is crucial for maintaining a safe trading environment for users.
Deposit/Withdrawal Currencies
Shikoku primarily operates with Japanese Yen (JPY) for deposits and withdrawals. There is no mention of cryptocurrency support, which may limit options for users interested in digital assets.
Minimum Deposit
The search results did not specify a minimum deposit requirement, which may vary based on account types. It is advisable for potential users to inquire directly with Shikoku for accurate information.
Information regarding bonuses or promotional offers was not readily available in the sources reviewed. Users are encouraged to check Shikoku's official channels for any current promotions.
Tradable Asset Classes
Shikoku offers a diverse selection of asset classes, including domestic stocks listed on the Tokyo Stock Exchange, foreign stocks, domestic and foreign currency-denominated bonds, and structured bonds. This variety allows traders to diversify their portfolios.
Costs (Spreads, Fees, Commissions)
Shikoku's commission structure is based on contract amounts, with specific fees for domestic stocks starting at ¥2,750 for contracts of ¥1 million or less. The maximum commission can reach up to ¥275,000, and the broker offers a 50% discount on stock trading commissions compared to over-the-counter transactions. However, there are concerns about higher fees for smaller contract amounts.
Leverage
The maximum leverage offered by Shikoku is not explicitly mentioned in the sources. Traders should verify this information before opening an account.
Shikoku does not support popular trading platforms like MT4 or MT5, which could be a significant drawback for many traders accustomed to these platforms. The lack of a dedicated trading software may limit the functionalities available to users.
Restricted Regions
While the broker is primarily focused on the Japanese market, specific restrictions on international users were not detailed in the reviewed sources. Prospective clients should confirm any regional restrictions directly with Shikoku.
Available Customer Service Languages
Customer support is available primarily in Japanese, with limited options for English-speaking users. This could pose challenges for non-Japanese speakers seeking assistance.
Repeated Ratings Overview
Detailed Breakdown of Ratings
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Account Conditions (7.5/10): Shikoku offers individual and corporate customer accounts, catering to a wide range of investors. However, the absence of clear information on minimum deposits may deter some users.
Tools and Resources (6.0/10): The broker lacks popular trading platforms like MT4 or MT5, which could limit the trading experience for many users.
Customer Service and Support (5.0/10): User feedback indicates that customer service is often slow to respond, which is a significant concern for traders seeking timely assistance.
Trading Setup (Experience) (6.5/10): While Shikoku provides a diverse range of asset classes, the trading experience may be hindered by the lack of advanced trading platforms.
Trustworthiness (8.0/10): As a regulated broker under the FSA, Shikoku enjoys a favorable reputation. However, users should remain vigilant due to risk alerts from sources like WikiFX.
User Experience (6.0/10): Overall user experience is mixed, with some users reporting difficulties in navigating the website and accessing information.
In conclusion, while Shikoku presents itself as a legitimate broker with a strong regulatory framework, potential users should weigh the pros and cons outlined in this Shikoku review. The absence of popular trading platforms and concerns regarding customer service responsiveness may influence your decision. Always conduct thorough research and consider your individual trading needs before engaging with any broker.
