Review: Rakuten Securities Australia Pty Limited a SCAM

Welcome to our review of Rakuten Securities Australia Pty Limited. The company is a Forex brokerage that offers margin and CFDs trading. Their website lures investors using attractive spreads for pairs like EURUSD while also accepting a minimum of $50 deposit only.

Whereas Rakuten Securities Australia Pty Limited is an ASIC regulated broker, past reviews of their clients have shown that this broker cannot be trusted 100%.a

According to the official website of Rakuten Securities Australia Pty Limited (That is sec.rakuten.com.au), the company is headquatered in Tokyo. And if this is the case, one would wonder why they chose to seek an Australian Forex broker license rather than one from their home country. It doesn’t add up.

Also, the broker claims to have a presence in countries like Japan, Hong Kong and Malaysia. They provide support from 3 phone numbers, an email and a Skype contact.

Since this broker is quite peculiar and not a company that we can trust with all our hearts, we choose to spare you the heartache by pointing you in the right direction. If you want to create wealth by way of trading, you should definitely choose our trading products/services recommendation.

Rakuten Securities Australia Pty Limited Review

If their spreads are anything to go by, then we can conclude that this is one of the cheapest Forex brokers on the internet right now.

But obviously we have to remember that the issue of cheapest Forex brokerage is out of the equation since we already have serious trust issues with this broker.

Their spreads are well within the acceptable limit. Also, I see that the official website is well-designed for wooing new clients even if they will only make the absolute minimum deposit that can get them by.

One thing I have noticed with Rakuten Securities Australia Pty Limited is that the company is very secretive when it comes to introducing their owners.

The obscurity that covers their operation is sickening. It reminds me of scams such as Livetrades, WalFlo and PFH Markets that are virtually anonymous.

Rakuten Securities Australia Pty Limited customer reviews

Customer reviews for this broker are extremely negative. The only time you will find a positive review will be most likely from a blogger or v-logger who is promoting them because they’ve been paid to do so.

Here, we don’t accept bribes at the expense of misleading our audience and causing them to make financial mistakes. This is why I am calling out on all those bloggers who do this kind of thing and also warning you that not all the “positive reviews” out there are legitimate.

I have quoted the first negative review that I found online concerning this broker.

I had a very bad experience with this broker.

Let’s see what happened: I used an EA for more than 30 days in a demo account and after achieving a satisfactory result I then registered a real account with the same characteristics of the demo account (spread and leverage)

It turns out that the EA used in the real account inexplicably did not have the same performance obtained in the demo account. And what is worse, when stipulating stop limit in SL = 0, the orders always closed with negative balance.

Look at the pictures and draw your conclusions.

What this review is saying is that Rakuten Securities Australia Pty Limited is manipulating trades on their live accounts but using the demo account for luring unsuspecting customers into their platform.

There is nothing wrong with the expert advisor (EA) that this person was using. Actually you can find that Forex expert advisor on this list of recommending trading and investing tools. 

I have also seen many other complaints on the web regarding this broker’s reluctance to process their customers withdrawal requests. Some clients have also lost their accounts with money locked in.

The Conclusion

Do not use the services of Rakuten Securities Australia Pty Limited. Please avoid them as they can be a very bad broker for your investment endeavors.

Going by the negative reviews and comments, I can easily judge that this is basically a scam broker with an Australian license. They are taking advantage of the license status because these regulators are basically weak. They don’t follow up. They are merely barking dogs that can’t bite.

Thanks for reading our review.