WikiFX

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Based on my review of Rakuten Bank, as an experienced trader who’s always cautious about the regulatory standing and transparency of a broker, I have to clarify that the information available does not specify forex account types in the way most international brokers do. Rakuten Bank positions itself primarily as a digital bank, and while it does offer a comprehensive range of banking services—like deposits, remittances, payments, and borrowing—there is no clear outline of dedicated forex trading accounts or tiered account structures tailored for active forex traders, at least from the data I could gather. Another point that stands out for me is the lack of regulatory oversight; Rakuten Bank is not regulated by any widely recognized financial authorities where forex trading is concerned. In my experience, this absence of robust regulation significantly amplifies risk, no matter the range of services or how advanced the app may appear. For traders seeking specialized accounts—such as ECN, Standard, or Professional tiers, which are standard across most reputable forex brokers—such options do not appear to be available here. This greatly limits flexibility, transparency, and the degree of trader protection. Ultimately, for individuals specifically interested in forex trading, the lack of clear, comparative account information and absence of regulatory protections would make me seriously reconsider using Rakuten Bank for anything beyond basic banking needs. Even with its reputable background as a digital bank, I always prioritize trader safety and regulatory clarity above all else.