Rakutenforex Spreads, leverage, minimum deposit Revealed

　　General Information & Regulation

　　Rakutenforex is an online forex broker operated by RAT Fintech LIMITED, a company registered in Saint Vincent and the Grenadines. Rakutenforex is not subject to any regulation at this stage.

　　Markets Instruments

　　Tradable financial instruments include currency pairs, precious metals including gold and silver, as well as CFD indices.

　　Minimum Deposit

　　Rakutenforex offers only two types of accounts which are based on leverage：Standard and High Leverage Accounts. The minimum opening balance for both accounts is $50. Although this requirement sounds encouraging, traders are not advised to register real trading accounts here given the fact that Rakuten is unregulated.

　　Leverage

　　The Standard Account offers a maximum leverage of 1:100, and the maximum leverage available for the high leverage account is as high as 1:400.

　　Spreads & Commissions

　　The Standard Account offers lower spreads with the benchmark EURUSD currency pair at 0.5 pips, and in high leverage account, Spreads are slightly higher with the EURUSD currency pair at 0.8 pips.

　　Trading Platform Available

　　The only platform provided for trading is the popular MetaTrader (MT4) trading platform developed by Russian software company MetaQuotes. Rakuten provides the MT4 platform as a downloadable windows desktop application and also as mobile apps. MAC OSX users are advised to contact the support team for assistance on how to install MT4 on their systems. Other brokers provide MT4 for MAC.

　　Deposit& Withdrawal

• 　　Payment options working with Rakutenforex include:

• 　　Bank Wire transfers (There are no deposit charges but withdrawals are charged at $25. International bank transfers take 3-5 business days while domestic transfers take 1-2 bank working days.)

• 　　Skrill (There are no deposit fees but a withdrawal fee of 2% is charged. Skrill deposits are processed instantly while withdrawals take up to 2 business days.)

• 　　Neteller (This is a global e-wallet payment option that Rakuten accepts. 2% withdrawal charges apply while deposits are free. Withdrawals can take up to 2 days while deposits are processed instantly.)

• 　　Credit/Debit cards

• 　　Bitcoin

　　Customer Support

　　The Rakutenforex customer support team is available from Monday to Friday. They can be reached on phone, email, Skype, web chat, WhatsApp and social media. The live chat services are available from 9am to 5pm (Sydney time) from Monday to Friday.