This is a new broker for western world but they are leaders in Japan like Gmo-Click, DMM fx and Gaitame. They are regulated by ASIC, when i contacted them by chat they explained me that they are Market Makers. Besides, Rakuten forex broker, there are a Rakuten Bank in Japan and Luxemburg and they are famous by eshop Rakuten (Barcelona FC jersey).
I´ve opened a demo account to test your platform, spread for usdjpy 0.6. Sometimes i do have requotes in demo but i don´t know with real account yet. Perhaps next month i´ll open a real account. I´ll follow posting if i open it.
Is there anybody trading in real with Rakuten?
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I´ve opened real account with Rakuten. I´ve verified my account at less than 12 hours. My first deposit was credited at my account from my ewallet at 1 minute. I´ll follow posting here about broker performance.
Hi Kamajafx,
Thanks for posting about your experience with Rakuten Securities Australia. We are glad you invited us to contribute to your thread as there are a few tips we can give you to improve your experience and trading conditions with us.
Yes, you will get re-quotes in your live account as well as your demo. Our demo and live accounts are almost identical aside from stop loss orders being physically executed or not. The reason for this is one of our client’s favorite features.
As you mentioned we are a Japanese Broker operating in Australia which brings the best of both worlds, but with that, you need to be aware of our unique conditions. We offer instant execution with 0 slippage as default. This means that if the market moves away from our price between when you hit the bid or the ask, and when we receive the order, your order with get rejected (MT4 calls this a requote). This means you either get the price you want or no fill.
- 2 simple ways to improve/customise this. You be the boss:
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Improve your ping or latency between your PC and our server. Feel free to contact us at [email protected] for VPS details that can reduce your ping to <2ms. This will reduce the time window for the price to change and will ensure you hit your price more often.
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Add a slippage tolerance. This is done easily in your MT4 platform under Options > Trade > Deviation by default - add slippage tolerance in pips, or adjust this via the deal ticket window. This essentially allows you to choose a range in which you want to get filled. Great in moving markets.
We essentially let you choose how you want to be filled rather than clients taking an unknown amount of slippage. SL orders will still revert back to standard market orders which will get filled at the next available price.
If you carry out both 1 and 2, you will experience some of the quickest fills globally, coupled with our extremely tight 95% fixed spreads, No commission.
Feel free to get in touch or ask us any questions.
RSA Team
I´ve experienced some trouble with this broker. I´ve funded my account via e-wallet. To withdraw you can do it via e-wallet up your initial deposit. The surplus you can just withdraw it via bank wire. This feature appears at your faqs and at your Terms and Conditions. At your home page they just write about your funding options. I live at a country where crossborders transfers are difficult. Considering, that my english is not native and that frecuently brokers use to provide your clients same conditions for both payment options, i didn´t realize about this difference between funding and withdrawal options. If i knew this, i didn´t open a real account with them. I did the withdrawal of my initial deposit, the money was credited at my e-wallet after 48 hs… I knew about this feature when i tried to do a withdrawal after four months trading, my profits during those four months were 233% of my initial deposit. At your website there isn´t any transparency about this feature. I suppose they hide it so they can catch some traders from Africa, Asia and Latinamerica like me, where at many countries crossborders transfers are complicated, too. But how i´ve explained to the customer service staff, this could be a case where because i´m the client, i´m wrong. Now i´ve opened a trade with the Cad. I don´t know if someday i´ll be able to do another withdrawal. So i take this account as a demo account, testing my trading plan with real money.
I suggest you that if you are thinking to use an e-wallet as payment option don´t choose this broker.
During Monday, i´ve contacted via chat to Rakuten support team to ask them about the possibility to withdraw my money via Broker to Broker transfer but they answered me that they don´t offer this possibility. So, remember that if you choose an e-wallet as payment option it isn´t convenient that you choose this broker.
Hello. After 8 months where i didn’t trade with this broker, i inform that now Rakuten accepts that profits can be withdrawn via Skrill or Neteller, too. They sent me an email with this new few days ago. I’ll give myself a second opportunity trading with the company. I’m swing trader so it market maker feature isn’t an issue for me. At least they were honests with me when i asked them about this feature. I didn’t lost any cent of my balance account during the period of 8 months. When i withdraw some profits i’ll post about the experience.
Ten days ago, i did my first withdrawal of profits vía Skrill. I’ve received the money into my Wallet after 12 hours. I like this broker.
Hi Kamajafx,
Thank you so much for sharing your experience with this new broker.
I’m looking for new broker and Rakuten it seems very attractive, because of the tight and fixed spreads.
You’ve said that you had some problems to withdraw your profits, but in February you was able to do your fist withdrawal via Skrill. I’d like to know if you can share your experience, since your first withdrawal. I mean, you was able to withdraw more times, the spreads matches with the site specification, etc.
I hope I`m not bothering you.
Thank you again.
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No problem with the broker. But for my experience i recommend you open a real account with Rakuten if you are swing trader. Don’t forget they are Market Makers. I open and close my positions from H4. Remember that when new Asic regulation applies the leverage will be 20.