Best Forex Brokers Japan 2023
A nation of islands (nearly 7,000 of them!) situated atop a ring of volcanoes in the Pacific Ocean (aka the Ring of Fire), Japan’s archipelago is also home to the most populated city in the world – Tokyo – and one of the world’s most important financial centers.
Newcomers to forex trading will learn that the Japanese Yen is one of the most popular currencies for trading on the forex market, and that Japan hosts a large, active population of investors and forex traders.
As one of the world’s major financial centers, we knew that we had to do a deep dive into the ins and outs of Japan’s financial systems. So, the team at BrokerNotes conducted extensive research and data collection on forex brokers, local regulatory agencies, stock exchanges, and Japanese monetary policy. Then, we created this guide to explain how they all fit together, and to help you pick the best forex broker for trading in Japan.
Choosing a forex broker in Japan
Whether you are an active trader with deep forex experience, or a beginner who is just getting their start in the forex world, choosing a well-regulated forex broker is crucial if you want to steer clear of forex scams. Not all regulatory licenses carry the same weight, however, and regulatory environments can vary widely from country to country.
Our Trust Score, a proprietary algorithm, ranks regulatory agencies and their respective countries into three groups, with Tier 1 indicating the most stringent (which is good) and Tier 3 the least. We collect comprehensive data on each broker, which results in a ranking from 1 to 99 of the broker’s overall trust (the higher a broker’s Trust Score, the better). Learn more about Trust Score at our sister site, ForexBrokers.com.
Japan’s financial markets regulator is the Japanese Financial Services Authority (JFSA). JFSA’s high degree of trust has us ranking Japan as a Tier 1 jurisdiction.
The JFSA is a regulator with myriad functions, such as the planning and policymaking for Japan’s domestic financial system, and the supervision of financial institutions such as bank operators, money lending businesses, crypto-asset exchanges, credit unions, and insurance business providers.
Forex brokers in Japan are regulated by the Financial Futures Association of Japan (FFAJ) which is a non-governmental member-based self-regulatory organization (SRO) authorized by the Ministry of Finance in 1989.
The Securities and Exchange Surveillance Commission (SESC) operates under the authority of the Financial Services Agency (FSA) and is Japan’s principal financial sector regulator, and is responsible for conducting market surveillance, investigating and reporting market misconduct, and supervising and inspecting financial instruments businesses.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Best forex brokers for trading in Japan
To help you find the best forex brokers, we curated a list of every broker that accepts new clients from Japan. We conducted meticulous research on those brokers, using over 100 data-driven variables (including our proprietary Trust Score), resulting in this list of the overall best forex brokers in Japan:
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IG
- 9.9/10 Overall
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FOREX.com
- 9.3/10 Overall
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AvaTrade
- 8.6/10 Overall
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XM Group
- 8.4/10 Overall
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Admiral Markets
- 8.3/10 Overall
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BlackBull Markets
- 7.9/10 Overall
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HFM
- 7.7/10 Overall
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ThinkMarkets
- 7.4/10 Overall
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easyMarkets
- 7.3/10 Overall
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AxiTrader
- 7.1/10 Overall
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FXPrimus
- 6.9/10 Overall
Minimum Initial Deposit
ÂŁ250.00 |
Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted |
Cost & Fundingexpand_moreexpand_less
| Average Spread EUR/USD - Standard | 0.86 (September 2022) |
| All-in Cost EUR/USD - Active | 0.5957 (September 2022) |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | No |
| Visa/Mastercard (Credit/Debit) | Yes |
Minimum Initial Deposit
$100 |
Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted |
Cost & Fundingexpand_moreexpand_less
| Average Spread EUR/USD - Standard | 1.0 (July 2022) |
| All-in Cost EUR/USD - Active | 1.0 (July 2022) |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | No |
| Visa/Mastercard (Credit/Debit) | Yes |
Minimum Initial Deposit
$100 |
Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted |
Cost & Fundingexpand_moreexpand_less
| Average Spread EUR/USD - Standard | 0.91 (Aug 2020) |
| All-in Cost EUR/USD - Active | 0.61 (Aug 2020) |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
Minimum Initial Deposit
$5 |
Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Trusted |
Cost & Fundingexpand_moreexpand_less
| Average Spread EUR/USD - Standard | 1.6 (Aug 2020) |
| All-in Cost EUR/USD - Active | 0.8 (Aug 2021) |
| PayPal (Deposit/Withdraw) | No |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
Minimum Initial Deposit
$100 |
Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Trusted |
Cost & Fundingexpand_moreexpand_less
| Average Spread EUR/USD - Standard | 0.8 (July 2021) |
| All-in Cost EUR/USD - Active | 0.7 (July 2021) |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
Minimum Initial Deposit
$0 |
Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Average Risk |
Cost & Fundingexpand_moreexpand_less
| Average Spread EUR/USD - Standard | 0.827 (August 2022) |
| All-in Cost EUR/USD - Active | 0.827 (August 2022) |
| PayPal (Deposit/Withdraw) | No |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
Minimum Initial Deposit
$5 |
Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Trusted |
Cost & Fundingexpand_moreexpand_less
| Average Spread EUR/USD - Standard | 1.2 (August 2021) |
| All-in Cost EUR/USD - Active | 0.9 (August 2021) |
| PayPal (Deposit/Withdraw) | No |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
Minimum Initial Deposit
$250.00 |
Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Trusted |
Cost & Fundingexpand_moreexpand_less
| Average Spread EUR/USD - Standard | N/A |
| All-in Cost EUR/USD - Active | N/A |
| PayPal (Deposit/Withdraw) | No |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
Minimum Initial Deposit
$100 |
Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Trusted |
Cost & Fundingexpand_moreexpand_less
| Average Spread EUR/USD - Standard | 0.9 (as of Mar 2020) |
| All-in Cost EUR/USD - Active | 0.9 (as of Mar 2020) |
| PayPal (Deposit/Withdraw) | No |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
Japan’s financial markets
Forex traders will recognize the Japanese Yen (JPY) as Japan’s national currency, which is issued and managed by the Bank of Japan. The JPY has become one of the most popular currencies for trading on the massive global forex market. The USD/JPY currency pair (also known as the “gopher”) is one of the most commonly traded currency pairs in the entire forex market.
Japan’s Tokyo Stock Exchange (TSE) – or, Tōshō – dates all the way back to 1878. Suspended during World War II, it reopened in 1949 following the issuance of the Securities Exchange Act, and in 2013 the TSE completed a merger with the second-largest stock exchange in Japan – the Osaka Securities Exchange (OSE) – to form the Japan Exchange Group (JPX).
The JPX now ranks globally as one of the largest stock exchange groups.
What is the best Japanese forex broker?
IG is the best forex broker in Japan in 2022. Regulated by the JFSA (and a member of the FFAJ), IG is an all-around excellent choice for forex traders in Japan. Whether you are a beginner, intermediate, or professional trader, IG’s award-winning mobile app delivers an outstanding trading experience. IG also offers a wide range of currency pairs, powerful investing tools, market research, educational content, as well as a slew of complex order types for advanced trading strategies.
Which forex broker has the best mobile app in Japan?
The IG Trading app is the best mobile app in Japan for forex trading in 2022. Forex traders in Japan will find that IG’s flagship mobile trading app delivers many of the same advanced features found in modern web trading platforms.
With the IG Trading App, forex traders gain access to a user-friendly trading platform that is stacked with powerful tools and features. Featuring advanced technical analysis, customizable news headlines, trading signals, market research, and powerful trading tools that are directly integrated into IG’s mobile charts, IG’s mobile app provides a rich user experience without putting any limits on functionality.
Also worth mentioning is Saxo Bank’s SaxoTraderGO mobile app, another excellent choice for mobile trading in 2022. Saxo Bank’s SaxoTraderGO web and mobile platforms provide a powerful selection of tools along with top-notch research in a highly unified cross-platform experience.
Is forex trading legal in Japan?
Yes, forex trading is legal in Japan and is a regulated activity for exchange-traded forex (futures) as well as over-the-counter (OTC) forex trading. Brokers that are regulated by the JFSA and licensed to offer forex trading must also be members of the FFJA, the designated self-regulatory organization (DSRO) in Japan.
It’s important to always make sure that your broker is regulated to reduce your chance of dealing with a scam broker. For residents of Japan, trading forex with a broker that is regulated locally is an added benefit, such as in the case of a dispute that you are unable to resolve directly with your broker.
For example, if you had a dispute with a locally regulated broker, you’d be able to file a complaint locally – which can create more pressure for the broker to resolve the dispute amicably. If your broker isn’t regulated in your country of residence, there is a greater chance that they won’t be able to assist you.
Where can I trade forex in Japan?
The best forex brokers in Japan hold numerous regulatory licenses in top-tier financial centers across the globe. There are a number of brokers that will facilitate forex trading in Japan – some of which are regulated locally by the JFSA, and some which are regulated in other countries. At BrokerNotes, we always recommend choosing a broker that is regulated locally, in the same country where you reside (except where related financial consumer protection laws are not yet established or enforced).
The best brokers that are regulated in Japan by the JFSA include the following:
- IG
- Saxo Bank
- Interactive Brokers
- FOREX.com
- City Index
- AvaTrade
- OANDA
Keep in mind that many forex brokers will accept clients from jurisdictions (such as Japan) in which they are not locally regulated, but those brokers may hold sufficient licenses from other major jurisdictions where there are similar regulatory and compliance requirements.
BrokerNotes.co 2023 Overall Rankings
To recap, here are our top forex brokers for 2023, sorted by Overall ranking.
More Forex Guides
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.
About the Editorial Team
Steven Hatzakis
Steven Hatzakis is the Global Director of Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
John Bringans
John Bringans is the Senior Editor of BrokerNotes.co and ForexBrokers.com. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.
Joey Shadeck
Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.
IG
Saxo Bank
Interactive Brokers
CMC Markets
TD Ameritrade
FOREX.com
City Index
XTB
eToro
Swissquote
FXCM
Plus500
Capital.com
Pepperstone
OANDA
FP Markets
IC Markets
Markets.com
FxPro
Fineco Bank
Tickmill
DooPrime
BDSwiss
TMGM
FlowBank
HYCM (Henyep)
Vantage
Trading 212
Eightcap
Trade Nation
Moneta Markets
VT Markets
ACY Securities
RoboForex (RoboMarkets)
IronFX
Exness
Spreadex
Trade360
AxiTrader
GKFX
Vestle
OctaFX
FXOpen
TeleTrade
FXPrimus
Forex4you
LegacyFX
GBE brokers
Alpari
TopFX
Libertex (Forex Club)
ATFX
UFX
Xtrade
Tradeo
