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Welcome to our guide that helps you find the best forex broker in Japan. Forex trading in Japan is big news and our guide will make sure that you get the best possible start with your online trades!
Japan is one of the global hotspots for forex trading, but you should still be careful about which online brokers you use. After all, you will want to make sure that you stay safe while getting the maximum value from your trades. So stick with us as we reveal the best forex broker in Japan!
We’ve created a comparison that simply shows off the best online forex trading platform in Japan. You can just take a look at our shortlist and see who gives you the most competitive value for all major currency pairings.
This means that newcomers to forex trading won’t make the mistake of signing up to an online broker who is out of their league. Plus, those with lots of forex trading experience will get a good overview of all of the forex trading platforms currently operating in Japan. So make sure that you check out our comparison to find your perfect forex trading site!
Yes, it’s perfectly legal to trade forex in Japan, but you will need to be careful about which online broker you use. There are two authorities in Japan who have the power to govern forex trading platforms. These are the Japan Financial Services Authority (JFSA) and the Financial Futures Association of Japan (FFAJ).
Of these, the JFSA is more relevant to our hunt for the best forex broker in Japan. This is because the JFSA directly supervises forex brokers in the country and also regulates everything from banks to insurance companies.
In addition to this, The JFSA also has the power to blacklist any Japanese or offshore forex brokers who fail to follow the strict trading regulations. Simply put, any forex broker looking to legally trade in Japan must have a license from the JFSA. Such information will usually be found in the footer of the online trading site.
Other protective measures include the fact that Japanese brokers aren’t allowed to offer signing up promotions, nor any kind of hedging or scalping. Plus, Japanese investors are only allowed to trade with a leverage of up to 1:25.
While this low leverage makes forex trading in Japan relatively expensive, it has helped to produce one of the safest and most vibrant places for trading foreign currencies in the world. Current estimations have Japan down as contributing no less than 17% of the global forex market turnover.
While there are lots of online brokers for forex trading in Japan, not all of them are 100% trustworthy. So we’ve compiled this little list of things you should check for before signing up to any forex trading platform:
We can’t say this clearly enough. If an online broker is operating in Japan and it doesn’t have licensing from the JFSA, then it’s operating illegally. Don’t be tempted to sign up to some offshore broker just because it says that it is open to Japanese customers. After all, going to these offshore trading sites means that you’ll get little in the way of customer protection.Â
You’ll always have to keep an eye on how any online broker looks after your deposits and personal data. We’d expect nothing less than 128-bit SSL encryption technologies to make sure that your information is kept in safe hands. Plus we like to see that the online broker will keep your money kept secure in an account that is segregated from its own funds.Â
There are usually a lot of terms and conditions on an online trading website. This will describe how the trading site operates, how it is regulated, what you are allowed to do on it, and much more. It’s essential to read through the small print as this is where you’ll learn important information about things like fees, minimum deposit amounts, licensed jurisdictions and so on.Â
Be sure that you only use the most trusted payment methods for making deposits and withdrawals at a forex trading site. The majority of Japanese forex traders will use credit and debit card brands such as Visa, Mastercard, Maestro, JCB and even UnionPay. Beyond this, there should be the option to make an old-fashioned bank transfer and some forex brokers are starting to accept e-Wallets such as PayPal, Neteller and EcoPayz.Â
So what happens if your deposit vanishes or your forex trade gets stuck halfway through? This is where you’d hope that your chosen online broker had decent customer support. We’ve found that all good forex trading platforms have a bare minimum of email support along with some kind of help centre. However, our favourite online brokers will go a step further to include live chat and telephone support – all of which should be available in a variety of languages including Japanese 24/7.
We’ve taken care to introduce a strict review process that we use to judge each legal forex broker in Japan. This means that you always get an honest take on what that broker has to offer. Here is an overview of some of things covered in our online broker reviews:
Our reviews will focus on what it’s actually like to use that forex broker via a smartphone, tablet or computer. This means you’ll get to see whether that forex trading app is full of glitches or whether that broker’s website is easy to navigate.
Some online brokers will have their own in-house trading software, but most feature third-party trading platforms such as MetaTrader 4 or 5. Our reviews will let you know what platforms there are and what kinds of pending orders and indicators are available.
It’s common to be offered a variety of different accounts when you sign up to an online trading site. These will let you do different things like trade CFDs or options and so on. Don’t forget that you should be able to use a demo account to get a good feel of what the online broker is all about.
You should be able to make deposits and withdrawals via bank transfer or card at most good Japanese brokers. However, it’s worth shopping around to see whether you can find a trading site who accepts your preferred ewallet.
We love those trading platforms who go the extra mile with their customer care. This means that you should be able to contact their customer service team via social media, live chat and much more.
The authorities in Japan have been careful to introduce some of the lowest leverage rates for forex trading in the whole world. For a while there were even plans to reduce the permitted leverage rate from 25:1 to just 10:1. While these plans didn’t materialise, they have meant that all margin traders in Japan have to comply with stress tests to ensure that they survive any unexpected market volatility. All of which means that you may have to shop around a little harder to find decent value for your forex trades.
Every forex broker in Japan will have distinct spreads for forex trading. This obviously varies according to the currency pairing you are speculating on. We’ve found that some trading platforms have no spreads for the biggest pairings, while others will have a spread that begins at 0.1 pips. Remember to check our comparison to find the Japanese forex broker with the most competitive spread.
All online trading platforms will have fees and charges – even those that proudly declare that they don’t charge any commission. After all, these brokers have to stay in business somehow. You’ll commonly find the costs are included in the spread of your forex trades, but there may be other charges elsewhere. Be sure to avoid any online brokers who charge exorbitant fees for making withdrawals and be wary of any trading site who asks for an overly high first minimum deposit.
If you go to the best forex broker in Japan, you’ll probably see lots of other trading options besides currency pairings. Obviously, trading stocks is big news in Japan and you’ll be able to trade stocks and indices on all of the big exchanges like the Tokyo Stock Exchange and so on. All good trading platforms will also let you buy and sell commodities ranging from oil and gas to agricultural products through to precious metals like gold and silver.
We should also note that CFDs are legal in Japan and this means that you can trade on the price movements of an asset without actually owning that underlying asset. Just so you know, the Payment Services Act also made the trading of cryptocurrencies legal in Japan. All of which should give you plenty of trading options.
We’ve found that forex trading in Japan is legal, safe and simple too. The nation is a real hotbed of forex trading activity and it’s easy to see why. After all, it’s got the perfect blend of a technologically advanced society, a robust economy and a strict regulatory framework.
While the leverage of forex trading in Japan may make the actual trades relatively expensive, the sheer quantity of quality brokers means that you should always find good value whatever your preferred currency pairing. So make sure that you check out our comparison of forex platforms in Japan to see which is best for your investment needs!
Make sure that you read our guide to see which is the best broker for forex trading in Japan. There are plenty of excellent forex trading platforms in Japan but you will want one that is right for your investment needs. So just as we found the best forex broker in Netherlands, we’ll help you find the perfect forex trading platform regardless of whether you’re based in Tokyo, Osaka or Kyoto!
Not only will we help you find the best forex broker in Japan, but we’ll see whether this broker has an equally good forex trading app. It’s all part of what we do to help people find the best forex platform worldwide. After all, you’ll want the freedom to trade forex via an app from your smartphone or tablet, rather than just having to execute trades from a computer.
Check out our guide to finding the best forex broker in Japan where we’ll examine the spread at each of the relevant trading sites. After all, you can’t really be the best forex broker unless you are capable of having consistently competitive spreads. Thankfully our guide is here to make sure that you get the best possible value for your forex trades.
Come to our site to see the best trading platforms whatever your investment needs. Not only can we reveal the best online trading platform in the world, but we can get much more specific. This means that if you’ve ever wanted to see the best forex broker in Japan, you’ll know exactly where to look. Successful online trading has never been easier!
Make sure that you read our guide to see if there is any tax on forex trading in Japan. This is important as high tax rates could have a massive impact on what you get back from your forex trades. Thankfully our guide is here to make sure that you know exactly where you stand in regard to the authorities, and you’ll even be able to see if you can use any sites on our CFD broker list from Japan.
Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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