General Information & Regulation of SBI FXTRADE
SBI FXTRADE was established in 2011 11, headquartered in Tokyo, Japan, with a registered capital of 960 million yen, with its head office a member of the Japan Financial Futures Trading Association (Member No. 1588), a member of the Japan Crypto Asset Trading Association (Member No. 1026). SBI FXTRADE currently holds a retail foreign exchange license from the Japan Financial Services Agency, with regulatory number 2010401096907.
Products & Services of SBI FXTRADE
SBI FXTRADE provides investors with financial products and services such as over-the-counter foreign exchange margin trading, options, foreign reserve exchange, and cryptocurrency CFDs.
Minimum Deposit of SBI FXTRADE
As what announced on the SBI FXTRADE website, forex trading can start with a minimum deposit of $1, which sounds pretty reasonable for beginners to get started. Additionally, a demo account is also available for traders.
Leverage of SBI FXTRADE
According to Japanese laws, the maximum trading leverage for individual forex trading account is capped at 1：25. New traders are advised not to use high trading leverage, for leverage can magnify returns but also risks.
Trading Rules of SBI FXTRADE
Over-the-counter foreign exchange trading is available from Monday 7:00 am to Saturday 5:30 am Japan time (summertime) and Monday 7:00 am to Saturday 6:30 am winter time. There is no minimum deposit limit, and the deposit currency is Japanese yen, leverage for individual accounts is 10x and 25x, transaction fees are free, and account management fees are free. Trading hours for Options FX (Put Options, Call Options) are Monday-Friday (JST): 08:30am-05:30am. Trading hours for Cryptocurrency CFDs are 7:00 am-6:30 am (early morning) daily with 2x leverage.
Spreads of SBI FXTRADE
The spread for USD/JPY is 0.05 JPY, for GBP/JPY is 0.3 JPY, for AUD/JPY is 0.2 JPY, for NZD/JPY is 0.3 JPY, for CAD/JPY is 0.3 JPY, for HKD/JPY is 0.05 JPY and for offshore RMB/JPY is 0.1 JPY.
Trading Platform Available
SBI FXTRADE offers trading software for Windows, Web, and smartphones.
Deposit and Withdrawal of SBI FXTRADE
SBI FXTRADE offers two ways to deposit funds to your account in Forex: normal deposit or quick deposit. In case of normal deposit using bank transfer or online banking, the deposit will arrive within 1-3 hours (after 15:30, the next day) at the trader's expense. In terms of a fast deposit, investors can make a deposit via trading software, which is immediately available in 24 hours and free of charge for deposits over 1,000 yen. After the deposit is made to the Forex account, it can be deposited to the option Forex account by transfer.
