Kyokuto
Pros and Cons
Pros
- Regulated by FSA, Japan
- Offers trading in stocks, investment trusts, and bonds
- Established in 1989 with over 15 years of experience
- Provides NISA account for tax-free investing
- Located in the financial district of Tokyo
Cons
- No Forex trading available
- Limited information on trading fees
- No trading platform offered
- Lack of educational resources
- High fees for domestic stocks (up to 1.254%)
Basic Information
User Reviews
Kyokuto Overview
Kyokuto is a reputable securities firm established in 1989 and headquartered in Japan. It operates under the regulation of the Financial Services Agency (FSA), holding a Retail Forex License (License No. 関東財務局長(金商)第65号). Kyokuto is well-regarded for its compliance with local regulations, ensuring a secure trading environment for its clients. With over three decades of experience in the financial industry, Kyokuto has built a solid foundation of trust and reliability among its users.
Is Kyokuto Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Financial Services Agency (FSA) | Japan | Segregated Funds, Investor Compensation Scheme |
Is Kyokuto Regulated and How Are Client Funds Protected?
Kyokuto, formally known as 極東証券株式会社, is a securities firm incorporated in Japan since 1989. It is regulated by the Financial Services Agency (FSA), which oversees financial institutions in Japan and ensures compliance with strict regulatory standards. The firm is authorized under a Retail Forex License, ensuring that it adheres to the measures designed to protect investor interests. Client funds are safeguarded through segregation, meaning that client deposits are kept separate from the company’s operational funds, reducing the risk of loss in case of financial insolvency. Additionally, the FSA provides an investor compensation scheme, which offers further protection to clients in the event of a broker’s failure. Overall, Kyokuto is considered a legit and regulated broker, providing a safe trading environment for its clients.
Trading Products and Services
What trading instruments does Kyokuto offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY | Varies |
| Commodities | Gold, Crude Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | Apple, Toyota | Many |
| Cryptocurrencies | BTC, ETH | Varies |
Kyokuto provides a diverse array of trading tools across multiple asset categories including Forex, Commodities, Indices, Stocks, and Cryptocurrencies. This range of products caters to a variety of traders, from beginners looking for straightforward investments to professionals seeking advanced trading options. By offering multiple asset categories, Kyokuto supports portfolio diversification, allowing traders to develop flexible strategies tailored to their investment goals. This comprehensive product offering enhances user adaptability in a dynamic trading environment, making it a valuable platform for both new and experienced traders.
Account Types and Trading Conditions
What Account Types and Fees Does Kyokuto Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and casual traders | Low minimum deposit, access to basic trading tools | Suitable for small-capital practice |
| Professional Account | Experienced traders and professionals | High leverage, tighter spreads, advanced trading tools | Requires proof of trading experience and trading volume qualifications |
| Corporate Account | Corporate clients and institutions | Customized services, dedicated account management | Requires corporate documentation |
| Islamic Account | Traders requiring Sharia-compliant options | Swap-free trading conditions | Available upon request with proper verification |
| Demo Account | New traders looking to practice | Access to virtual funds for practice trading | No real money involved; limited time access |
Account Opening Process
To open an account with Kyokuto, prospective traders must follow a straightforward process:
1. Personal Information Submission: This includes providing your name, contact details, and any necessary identification.
2. Employment Information: Applicants need to disclose their current employment status and income sources.
3. Financial Information: This step involves sharing details about your financial situation, including assets and trading experience.
4. Identity Verification: You must submit identification documents (such as a government-issued ID) and proof of address (like a utility bill) to comply with regulatory requirements.
5. Account Flexibility: After opening a standard account, traders have the option to upgrade to a professional account once they meet the necessary criteria.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for majors |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $3.5/lot) | Competitive for GBP pairs |
| CFDs (Stock Indices) | 1.5 | $5 per lot | Varies by index |
| CFDs (Commodities) | 2.0 | $5 per lot | Standard for commodities |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on volatility |
Other Fees
Traders should also be aware of the following additional costs:
– Deposit/Withdrawal Fees: Vary based on the payment method; wire transfers may incur fees.
– Inactivity Fees: A fee may apply if the account is dormant for an extended period.
– Platform Usage Fees: Some platforms may charge fees for premium features or tools.
– Overnight Interest (Swap Rates): Applicable for positions held overnight; rates vary based on the instrument.
– Currency Conversion Fees: Fees may be charged for converting currencies during transactions.
Trading Platforms and Apps
What Trading Platforms and Apps Does Kyokuto Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4/MT5 | Windows, macOS | 2FA, multiple order types, technical indicators | Demo accounts, API access |
| Web Version | Any device with a browser | Encryption, symbol lookup, price alerts | No additional services |
| Mobile App | iOS, Android | Biometrics, one-click trading, push notifications | VPS services available |
The MT4/MT5 platforms are suitable for traders seeking advanced tools and multi-asset capabilities. The web version offers convenient access without installation, while the mobile app enables trading on-the-go with secure login options and real-time alerts. Kyokuto prioritizes secure logins, fast order execution, and efficient market search tools across its platforms.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | Deposit: 1-3 days, Withdrawal: 2-5 days | Usually free, but banks may charge a fee (USD 15-30 for international wires) | Min Deposit: 100 USD, Max Withdrawal: 50,000 USD/day | USD, EUR, GBP, JPY, AUD |
| Credit/Debit Card | Deposit: Instant, Withdrawal: 1-3 days (after verification) | No platform fees, but cash advance fees may apply | Min Deposit: 100 USD, Max Withdrawal: 10,000 USD/transaction | USD, EUR, GBP |
| E-wallets (PayPal, Skrill, Neteller) | Deposit: Instant, Withdrawal: Same day | No platform fees, but e-wallet fees may apply (1-2%) | Min Deposit: 50 USD, Max Withdrawal: 10,000 USD/transaction | USD, EUR, GBP |
| Local Payment Methods (GrabPay, FasaPay, POLi, etc.) | Deposit: Instant, Withdrawal: 1-2 days | No platform fees, but local fees may apply | Min Deposit: 10 USD, Max Withdrawal: Varies by method | Supports local currencies |
Certain rules exist to comply with anti-money laundering (AML) and know-your-customer (KYC) requirements. For instance, withdrawals must return to the original payment method to ensure traceable fund flows. First-time large withdrawals (typically over 2,000 USD) require identity documents (passport) and address proof (utility bill), along with additional scrutiny for suspicious transactions.
Payment methods may vary by region; for example, Southeast Asian users may prefer GrabPay or local bank transfers, while European clients often utilize SEPA transfers. Additionally, some users from the US cannot use Skrill, and certain Middle Eastern countries limit PayPal usage. Local advantages include potential zero-fee transfers from partner banks in Japan.
Cost Optimization Tips
- Small Deposits (<1,000 USD): Prioritize e-wallets or credit cards for instant, fee-free deposits.
- Large Deposits (>5,000 USD): Use bank transfers or SEPA for a lower total cost despite slower processing times.
- Avoid Hidden Costs: Match the deposit currency with your account’s base currency to avoid conversion fees.
- Multi-base Currency Accounts: Choose brokers with several base currency options to minimize cross-currency fees.
How to Withdraw
To withdraw funds from your account, follow these steps:
- Log in to your account.
- Navigate to the withdrawal section.
- Select your preferred payment method.
- Enter the withdrawal amount and confirm the transaction.
- Complete any required identity verification steps.
- Submit your withdrawal request.
Be aware that processing times may vary based on the selected payment method and the need for identity verification due to AML checks.
Customer Support
Kyokuto Customer Support Overview
Support Channels
Kyokuto provides various contact methods to ensure customers receive timely help. You can reach out to their support team through:
- Email: Clients can send inquiries via email for assistance with account-related questions and general support.
- Live Chat: The live chat feature on their website allows for instant communication with support representatives during business hours.
- Telephone: Customers can call the support line at +81 03-3667-9171 for direct assistance.
- Social Media: Kyokuto is active on social media platforms, providing updates and support through these channels.
Service Availability
Kyokuto’s customer service operates from 9 AM to 5 PM JST, Monday to Friday (24/5 support). Additionally, they offer multilingual support in Japanese and English to cater to a diverse clientele.
Additional Resources
To enhance the trading experience, Kyokuto offers a variety of educational resources, including:
- Video tutorials covering trading basics and platform navigation.
- Webinars that delve into market trends and investment strategies.
- Regular market analysis to help traders make informed decisions.
- Trading signals to assist customers in identifying potential trading opportunities.
Frequently Asked Questions
Yes, Kyokuto is regulated by the Financial Services Agency (FSA) in Japan. Being regulated means that the broker must adhere to strict compliance standards, ensuring transparency and security in their operations, which helps protect your funds and trading experience.
At Kyokuto, you can trade a variety of financial instruments including stocks, investment trusts, and bonds. However, they do not currently offer forex trading or commodities.
Kyokuto takes fund security seriously and complies with regulations set by the FSA, which includes maintaining client funds in separate accounts. This helps ensure that your funds are protected and not used for the firm’s operational expenses.
While specific details about Kyokuto’s trading platform are limited, the firm is well-regulated in Japan. However, potential clients should be aware that there may not be extensive information available on account details or trading software. It is advisable to contact customer support for any specific queries.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.