Company Information
FOREX EXCHANGE was established in Japan in 2004 and is currently regulated by the FSA (Financial Services Agency of Japan). The broker allows traders to trade currencies via the MT4 platform with the advantage of zero trading fees, while also providing a demo account for practice. However, detailed information about account types remains limited.
Pros & Cons
Pros:
- Regulated by the Japanese FSA.
- Supports the MT4 platform.
- Trading fees, stop-loss fees, and account maintenance fees are all 0 yen.
Cons:
- No clear disclosure of account type information.
- Only supports currency trading, with no other products (metals, indices, stocks, ETFs, etc.).
Account Types
The account opening process consists of 4 basic steps. The broker has not disclosed detailed information beyond a demo account and a standard live account.
Trading Fees
- Trading fee: 0 yen.
- Stop-loss fee: 0 yen.
- Account maintenance fee: 0 yen.
Note: For deposits over 1 billion yen, special fees may apply.
Trading & Platforms
- Platform: MT4.
- Supported devices: Desktop, mobile, tablet.
- Best for: Beginners.
- MT5 not supported.
Deposits & Withdrawals
- Deposits: Bank transfer or quick transfer, no minimum deposit required. Only supports JPY.
- Withdrawals: Processed via the website; funds can only be withdrawn in JPY to the registered bank account.
- Withdrawal fees:
+ Free in principle.
+ Withdrawals under 10,000 yen or more than 5 times/month: 540 yen per transaction.
+ Processing time: Up to 4 business days.
Conclusion
In summary, FOREX EXCHANGE is a long-standing Japanese broker regulated by the FSA, notable for its zero trading fees and MT4 support. However, its limited product offering (currencies only) and lack of transparency regarding account details may be disadvantages for some traders.
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