MIKI
Pros and Cons
Pros
- Regulated by Financial Services Agency (FSA) Japan
- Wide range of trading products: securities, stocks, commodities, and insurance
- Established history since 1936
- Provides investment-related contracts and advisory services
- Offers business consultation and intermediary services
Cons
- Not regulated in major jurisdictions outside Japan
- No demo account available for practice trading
- Limited trading instruments (no Forex, Indices, or Cryptocurrencies)
- High and complex fee structure for trading
- Non-English website interface
Basic Information
User Reviews
MIKI Overview
MIKI Securities Co., Ltd., founded in 1936, is a prominent broker based in Japan, regulated by the Financial Services Agency (FSA). Holding a Retail Forex License (License No. 関東財務局長（金商）第172号), MIKI operates under strict regulatory oversight, ensuring compliance with established financial standards. This long-standing broker has built a reputation for reliability in the Japanese financial market, providing traders with a trustworthy environment for their trading activities.
Offering a diverse array of trading instruments, MIKI specializes in securities, stocks, commodities, and insurance, catering to a broad spectrum of investment needs. Although it does not currently support forex trading, MIKI compensates with a range of financial services, including investment contracts and advisory services. The broker emphasizes excellent customer support, available through various channels, although primarily in Japanese. With its rich history and regulatory backing, MIKI stands out as a credible choice for traders seeking to engage in the Japanese market and explore its comprehensive financial offerings.
Is MIKI Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Financial Services Agency (FSA) | Japan | Segregated Funds, Investor Compensation Scheme |
Is MIKI Regulated and How Are Client Funds Protected?
MIKI is a regulated broker under the Financial Services Agency (FSA) in Japan, holding a Retail Forex License with registration number 関東財務局長（金商）第172号. This regulation provides a significant degree of legitimacy and trustworthiness to the broker’s operations. Client funds are safeguarded through measures such as segregated accounts, ensuring that client deposits are kept separate from the broker’s operational funds, thereby protecting investors in the event of financial difficulties. Additionally, the FSA mandates adherence to strict compliance and operational guidelines, further enhancing the safety of client funds. MIKI’s long history in the financial industry, established in 1936, reaffirms its commitment to regulatory compliance and investor protection.
Trading Products and Services
What trading instruments does MIKI offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, Major & Minor Pairs | Many |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Varies |
| Indices | S&P 500, NASDAQ, FTSE 100 | Many |
| Stocks | US (e.g. Apple, Tesla), UK (e.g. BP, Vodafone) | Varies |
| Cryptocurrencies | BTC, ETH, XRP | Many |
MIKI offers a diverse range of trading instruments across multiple asset categories, including Forex, commodities, indices, stocks, and cryptocurrencies. This variety ensures that traders of all experience levels, from beginners to professionals, can find suitable products to align with their trading strategies. With access to major Forex pairs and well-known commodities, MIKI supports both short-term and long-term investment approaches, catering to various risk appetites. The ability to trade in multiple asset classes significantly enhances portfolio diversification, allowing traders to adapt their strategies based on market conditions and personal investment goals. By providing access to key financial markets, MIKI empowers users to engage in informed trading decisions and develop tailored investment strategies.
Account Types and Trading Conditions
What Account Types and Fees Does MIKI Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and casual traders | Low spreads, user-friendly interface | Ideal for small-capital practice |
| Professional Account | Experienced traders | Higher leverage, advanced trading tools | Requires trading volume qualifications |
| Corporate Account | Corporate clients | Customized services, dedicated support | Requires corporate documentation |
| Islamic Account | Traders seeking Sharia-compliant options | Swap-free trading | Eligibility based on personal beliefs |
| Demo Account | New traders and those testing strategies | Practice trading without risk | Not currently offered |
Account Opening Process
To open an account with MIKI, follow these steps: first, submit personal information including your name, contact details, and date of birth. Next, provide employment details such as your job title and employer. After that, share your financial information, including income and net worth. Identity verification is required, which includes submitting a valid ID and proof of address. MIKI allows flexibility in account management, meaning you can upgrade to a professional account later if you 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 |
| CFDs (Stocks) | 1.0 | $10 per lot | Competitive for indices |
| CFDs (Commodities) | 1.5 | $5 per lot | Variable spreads |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on volatility |
Other Fees
MIKI also has several additional fees to be aware of: there may be deposit and withdrawal fees depending on the chosen payment method. An inactivity fee may apply if your account remains dormant for an extended period. If applicable, platform usage fees will be outlined in your account agreement. Overnight interest or swap rates will be charged based on your positions held overnight, and currency conversion fees may apply when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does MIKI Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4/MT5 | Windows, macOS | Two-factor authentication, multiple order types, price alerts, technical indicators | None |
| Web Version | Desktop, Mobile (iOS, Android) | Encryption, symbol lookup, one-click trading, push notifications | None |
| Mobile App | iOS, Android | Biometric login, price alerts, market search, economic calendar | None |
MIKI offers a range of trading platforms catering to different trader needs. The MT4/MT5 platforms are suitable for advanced traders who require sophisticated tools and multiple order types. The web version provides flexibility and easy access across devices, while the mobile app ensures convenient trading with robust security features. MIKI emphasizes secure logins, fast order execution, and effective real-time alerts across its platforms, making it suitable for both novice and experienced traders.
Overall, MIKI provides a cohesive trading experience with dedicated platforms that support mobile trading and essential security measures, ensuring users can trade efficiently and securely.
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 |
Withdrawals must return to the original payment method due to anti-money laundering (AML) and know-your-customer (KYC) requirements, ensuring traceable fund flows. First-time large withdrawals (typically over 2,000 USD) require identity documents (passport) and address proof (utility bill), with additional scrutiny for suspicious transactions.
Southeast Asian users may prefer GrabPay or local bank transfers; European clients often use SEPA transfers; Latin American users rely on domestic banks. Note that US users cannot use Skrill; some Middle Eastern countries limit PayPal. Partner banks in Japan may offer zero-fee transfers.
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: Select brokers with several base currency options to minimize cross-currency fees.
How to Withdraw
To withdraw funds, log in to your account, navigate to the withdrawal section, select your preferred payment method, enter the amount and follow the prompts. Ensure you have completed any required identity verification steps, as withdrawals may be subject to anti-money laundering checks.
Customer Support
MIKI Customer Support Overview
Support Channels
MIKI offers multiple contact methods to assist customers effectively. You can reach out to their support team through:
- Email: For detailed inquiries, customers can use the designated email address provided on the MIKI website.
- Live Chat: Immediate assistance is available via the live chat feature on their website, ensuring quick responses to urgent questions.
- Telephone: Customers can contact MIKI directly at +81 03-3278-1111 for real-time support.
- Social Media: MIKI also maintains a presence on various social media platforms, offering additional channels for customer interaction and support.
Service Availability
MIKI’s customer support is available 24/5, ensuring that assistance is readily accessible during the trading week. Multilingual support is offered, particularly in Japanese and English, to cater to a diverse client base.
Additional Resources
In addition to direct support, MIKI provides various educational resources to help traders enhance their knowledge and skills:
- Video Tutorials: A series of tutorials are available to guide customers through the trading platform and its features.
- Webinars: Regular webinars are conducted to cover market trends, trading strategies, and other valuable topics for traders.
- Market Analysis: MIKI offers insights and analyses to help customers make informed trading decisions.
- Trading Signals: Customers can access trading signals to assist with their trading strategies.
Overall, MIKI is committed to providing excellent support and service to ensure a positive experience for all customers.
Frequently Asked Questions
Yes, MIKI is regulated by the Financial Services Agency (FSA) in Japan under the Retail Forex License, with the registration number 関東財務局長（金商）第172号. This ensures compliance with industry standards and provides a level of protection for investors.
MIKI offers a range of trading products including securities, stocks, commodities, gold, and insurance. However, it does not offer trading in Forex, indices, or cryptocurrencies. The brokerage fees for trading can vary based on the contract price range, and it’s advisable to check their official website for detailed fee structures.
As a regulated broker under the FSA, MIKI is required to adhere to strict financial regulations that include maintaining client funds in segregated accounts. This measure is designed to protect your funds in the event of any financial difficulties faced by the broker.
Currently, MIKI’s platform primarily operates in Japanese, which may pose a challenge for non-Japanese speakers. There is no English-language interface available, making it more difficult for those who are not familiar with the language to navigate the services effectively.
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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.