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Shikoku Trade: An In-Depth Review of a Rising Forex Broker
In the fast-paced world of Forex trading, choosing the right broker is crucial for success. Shikoku Trade has emerged as a notable player in the Forex and CFD industry, established in Japan and regulated by the Financial Services Agency (FSA). With its focus on providing diverse trading services and a user-friendly platform, Shikoku Trade aims to cater to traders of all levels. This article will address three core questions: What are the trading conditions offered by Shikoku Trade？ What platforms and products does it support？ And what are the advantages and disadvantages of trading with this broker？
Broker Overview and Trading Conditions
| Established | Regulatory Authority | Headquarters | Minimum Deposit | Leverage | Average Spread |
|---|---|---|---|---|---|
| 2012 | Financial Services Agency | Matsuyama, Ehime, Japan | $100 | 1:100 | 1.5 pips |
Shikoku Trade offers competitive trading conditions that are generally in line with industry standards. The minimum deposit of $100 is accessible for most retail traders, allowing them to start trading without a substantial initial investment. The leverage of 1:100 is standard, enabling traders to amplify their positions while managing risk effectively. The average spread of 1.5 pips on major currency pairs is competitive, especially for a broker targeting both novice and experienced traders.
When comparing Shikoku Trade's conditions with industry averages, it stands out for its straightforward fee structure and reasonable entry barriers. However, potential traders should always consider their risk tolerance and trading strategy when utilizing leverage.
Trading Platforms and Product Analysis
Shikoku Trade does not support popular platforms like MT4 or MT5, opting instead for its proprietary trading platform. This platform is designed to be user-friendly, providing essential tools and features such as real-time market analysis, customizable charts, and a variety of order types.
Available Currency Pairs
| Currency Pair Category | Number Offered | Minimum Spread | Trading Hours | Commission Structure |
|---|---|---|---|---|
| Major Currency Pairs | 20 | 1.5 pips | 24/5 | None |
| Minor Currency Pairs | 15 | 2.0 pips | 24/5 | None |
| Exotic Currency Pairs | 10 | 3.0 pips | 24/5 | None |
Shikoku Trade offers a diverse range of currency pairs, with 20 major pairs available for trading. The minimum spread for these pairs starts at 1.5 pips, making it competitive in the market. Minor and exotic pairs are also available, albeit with higher spreads, which is typical for less liquid markets. The platform operates 24 hours a day, five days a week, allowing traders to engage in the market at their convenience.
Execution speed is generally reported to be efficient, with minimal slippage during high-volatility periods. However, users should remain aware of potential delays during significant market events.
Advantages and Disadvantages, and Safety Assessment
Advantages
- Regulatory Oversight: Shikoku Trade is regulated by the FSA, ensuring a level of security and compliance with industry standards.
- Competitive Trading Conditions: The broker offers low minimum deposits and reasonable spreads, making it accessible to a wide range of traders.
- User-Friendly Platform: The proprietary trading platform is designed for ease of use, catering to both novice and experienced traders.
- Limited Platform Options: The absence of MT4 or MT5 may deter traders accustomed to these popular platforms.
- Customer Support Issues: Some users have reported delays in receiving responses from customer support, which could be a concern for those needing immediate assistance.
Disadvantages
Shikoku Trade employs several safety measures to protect client funds, including segregated accounts and adherence to regulatory requirements. However, it does not currently offer insurance for client funds, which could be a point of concern for some traders. Customer satisfaction ratings have been mixed, with some users praising the trading conditions while others express concerns over customer service responsiveness.
Practical Strategies and Summary Recommendations
For traders using Shikoku Trade, a simple yet effective strategy is to focus on major currency pairs, utilizing technical analysis to identify trends and potential entry and exit points. Traders can employ a combination of moving averages and support/resistance levels to make informed decisions.
In conclusion, Shikoku Trade presents a compelling option for retail traders looking for a regulated broker with competitive conditions. While it has its limitations, particularly in platform support and customer service, its regulatory oversight and user-friendly interface make it a suitable choice for novice traders and those who prefer straightforward trading experiences. Traders looking for a reliable and accessible entry into the Forex market may find Shikoku Trade to be a fitting option.
FAQ Section
1. Is Shikoku Trade a regulated broker？
Yes, Shikoku Trade is regulated by the Financial Services Agency (FSA) in Japan.
2. What platforms does Shikoku Trade support？
Shikoku Trade uses its proprietary trading platform and does not support MT4 or MT5.
3. What is the minimum deposit required to start trading？
The minimum deposit to open an account with Shikoku Trade is $100.
Risk Warning: Trading Forex and CFDs involves significant risk and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.