Best Forex Brokers in Japan 2022

We have collected together some of the best forex brokers in Japan for you to have a detailed look at it. Here’s what was taken into consideration:

• The regulation of the broker and if physical offices were available;
• The minimum deposit of the broker for Japanese clients;
• Spreads and leverage on forex for Japanese clients;
• If local payments were available for Japanese clients;
• If there were any specific features offered by the broker for Japanese clients.

Round-up

1. Forex.com: best broker overall
2. IG Markets: wide range of services
3. AvaTrade: best for fixed spreads trading
4. IC Markets: great for algo-traders
5. Vantage: very low spreads on forex
6. Saxo Bank: best for high-volume traders
7. Oanda: best for beginners
8. Dukascopy: best for trading flexibility
9. NAGA: best for copy trading
10. Interactive Brokers: best for professional traders

WARNING

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 can afford to take the high risk of losing your money

Review

1. Forex.com

• Forex.com is well-regulated by the JFSA under the number 291.
• A full Japanese website is provided for Forex.com Japanese traders.
• Premium Japanese clients can benefit from a Premium cashback program based on how much volume is traded per month on forex, indices, stocks.
• Local deposits are available for Japanese clients.
• Japanese clients have access to 12,000 Forex.com assets in total.
• Forex.com Japanese traders find spreads from 0 pips on 84 forex pairs with a 25:1 maximum leverage.

Visit Forex.com
73% of retail CFD accounts lose money

2. IG Markets

• IG Markets in Japan is regulated by JFSA (no. 255) with a registered office in Tokyo.
• A full Japanese website is available for IG Japanese traders.
• The IG minimum deposit for Japanese clients is 35.000¥.
• IG provides 17,000 CFD for Japanese traders.
• Japanese clients can open an Individual IG Account or a Corporate account.
• Local bank transfers are available for Japanese traders in JPY. Payments via bank wires in USD are also possible.
• Japanese traders have access to spreads from 0.3 pips on 80+ forex pairs with a max. leverage up to 25:1 (individual) and up to 100:1 (corporate).

Visit IG Markets
(76% of retail investor accounts lose money)

3. AvaTrade

• AvaTrade in Japan is regulated by the JFSA under the number 1662.
• A full Japanese website is provided for AvaTrade Japanese traders.
• The AvaTrade minimum deposit is ¥50,000 for Japanese clients.
• Japanese local deposits are available for AvaTrade traders.
• Japanese clients find fixed spreads from 0.9 pips on 60+ currency pairs with a maximum leverage up to 25:1.
• Japanese clients can engage in Copy Trading by using the third-party platform DupliTrade.

Visit Avatrade
(79% of retail CFD accounts lose money)

4. IC Markets

• Japanese clients can trade under the global entity regulated by FSA (SD018).
• The Japanese language is not available for IC Japanese clients on the website.
• Japanese traders of IC Markets aren’t required to make a minimum deposit.
• JPY as base currency is available for Japanese traders, with EUR, USD, GBP, HKD, SGD, and NZD.
• Japanese clients find spreads from 0 pips on 60+ IC Markets pairs with a max. leverage up to 500:1.
• No IC bonuses are in store for Japanese clients.

Visit IC Markets
(74-89% of retail CFD accounts lose money)

5. Vantage

• Japanese clients can trade with Vantage under the CIMA entity (no. 1383491).
• The Japanese language is not available for Vantage Japanese clients on the website.
• Japanese clients of Vantage can start with a minimum deposit of ¥20.000 ($200).
• JPY is available for Vantage Japanese traders, alongside EUR, USD, GBP, HKD, AUD, CAD, NZD, and SGD.
• Japanese clients of Vantage can also make JCB deposits in JPY.
• Japanese traders find Vantage spreads from 0 pips on 39+ forex pairs with a maximum leverage up to 500:1.

Visit Vantage
74-89% of retail CFD accounts lose money

6. Saxo Bank

• Saxo Bank is regulated under the JFSA regulation (no. 239) with a registered office in Japan.
• A full Japanese website is available for Saxo Japanese traders.
• Japanese clients find 12,000 in total available across forex, options, futures, and other categories for a comprehensive offering.
• No Saxo minimum deposit is required for Japanese clients.
• With Saxo, Japanese traders will find several local deposits, like Rakuten Bank.
• Several base currencies are available, including JPY.
• Japanese clients find spreads from 0.2 pips on with a maximum leverage up to 25:1.

Visit Saxo Bank
72% of retail CFD accounts lose money

7. Oanda

• Oanda in Japan is regulated by the JFSA (number 1571) with a registered office in Tokyo.
• A full Japanese website is provided for Oanda Japanese traders.
• Japanese traders find an Oanda minimum deposit is ¥100,000, while it is ¥200,000 for the pro account.
• JPY base currency is available for Japanese clients.
• Japanese local bank deposits are available.
• Oanda Japanese clients find spreads from 0.3 pips on 60+ forex pairs with a maximum retail leverage up to 25:1.

Visit Oanda
73.5% of retail CFD accounts lose money

8. Dukascopy

• Dukascopy is regulated by the JFSA, under license number 2408 with an office in Japan.
• A full Japanese website is available for Dukascopy Japanese traders.
• Dukascopy offers Japanese traders a transaction fee discount program, which refunds 20% of the transaction fees and needs to be requested by 30 days from the last payment made from the client.
• Japanese traders will find a Dukascopy minimum deposit of ¥10,000.
• Japanese local bank deposits are available.
• Dukascopy spreads start from 0.3 pips on 38 forex pairs for Japanese clients with a maximum leverage of 25:1.

Visit Dukascopy

83% of retail CFD accounts lose money

9. NAGA

• NAGA accepts Japanese-based traders through their international entity regulated by Saint Vincent and the Grenadines under number 24501.
• The Japanese language is not available for NAGA Japanese clients on the website.
• Japanese clients have to make a NAGA minimum deposit of $50.
• The JPY base currency is not available for Japanese clients of NAGA. EUR, GBP, USD and PLN are.
• NAGA spreads start from 1.2 pips on 48 forex pairs with a maximum leverage up to 500:1 for Japanese clients trading under the global entity.
• Japanese clients can copy trade under the global entity via the proprietary NAGA Autocopy copy trading platform.

Visit NAGA
(80.85% of retail CFD accounts lose money)

10. Interactive Brokers

• Interactive Brokers is regulated by the JFSA under number 187 in Japan.
• A full Japanese website is available for IBKR Japanese traders.
• IBKR international account (IBLLC Account) does not have any minimum deposit for Japanese traders.
• Japanese traders find several base currencies available: JPY, NZD, EUR, USD, GBP, AUD, HKD, and more.
• Japanese local bank deposits are available.
• Japanese clients have access to IBKR spreads starting from 0.1 pips on 100+ currency pairs.

Visit Interactive Brokers
74-89% of retail CFD accounts lose money

Is Forex Trading Legal in Japan?

It is legal to trade forex in the country.

With that said, it may not be the easiest place to find a broker since Japan is regulated by two of the strictest regulatory bodies in the region. These are the JFSA (Japanese Financial Services Authority), and the FFAJ (Financial Futures Association of Japan). If you are a forex trader, then the JFSA is the regulatory body that oversees this sector.

Typically, as a retail trader trading in Japan, you can look forward to maximum leverage of 25:1 while trading. You should remember that negative balance protection is also not mandatory as it is in some regions.

How to trade forex in Japan

Typically, Japanese forex brokers do not tend to accept international clients. This means that you should generally be based in Japan if you are registering an account. With that said, all of the brokers listed are international brokers operating around the world and servicing many countries.

Opening your account, you will need proof of your identity which can be your passport. You will also need to have some proof of residence to hand. This can be a recent bank statement or utility bill. Once you have these two items you can pass the verification process and you will then be asked to make a deposit in JPY usually.

You should also note that certain forex trading instruments such as options and futures, may only be available to professional traders, but CFDs are permitted.

Japanese trader? Here’s what to look for in a forex broker

With all of our best-recommended brokers, there are a few key points that you should always look out for when making your choice:

1. Give priority to FFAJ or JFSA regulated forex brokers

This is typically something essential which you must do. The reasoning here is due to the fact that brokers not regulated by one of the Japanese bodies, typically can’t offer services without any special concessions. Adding to that, both the FFAJ, and the JFSA are very well recognized as some of the most trusted regulators in the financial world.

2. Look for brokers with low forex costs and commissions

The next thing that you should certainly be on the lookout for, is a broker who offers low trading costs and competitive commission. The fees which you will commonly find are the overnight fee, and the spread. These are worth monitoring as there is some great difference between brokers which can certainly impact you as a trader. Good leverage which often comes from many brokers, is something to look for as well.

Generally speaking, any spread which is 0.6 pips or below starting out, can be considered good, though this depends on the assets you are trading.

3. Are you a beginner? Look for the Negative Balance Protection

Negative balance protection is a great feature for keeping your funds secure and making sure you can never lose more than you deposit. This is mandatory under many jurisdictions, but not in Japan. With that said, many major forex brokers still offer it. If you’re new to trading, it is advisable to go with a broker who offers this protection.

How to verify if a forex broker is regulated in Japan

You can verify your brokers’ regulation quickly and conveniently by visiting the JFSA official website if you want to know more and through contact with the local authorities. You can also check directly through the JFSA list of allowed FIBO (Financial Instruments Business Operators). This will confirm your broker’s status and that you are trading in a safe environment.