monex group japan, anyone outside japan use them

[silvercloud]

monex group is one of the largest japanese brokers but their international presence is limited. they recently expanded availability for international clients with their monex global service. pricing looks reasonable on majors, plus interesting yen pair offerings due to their japanese base.

any non-japanese traders here used them? would love to know about onboarding experience for international clients and whether the language/timezone aspect is manageable.

[Ryan]

opened a monex international account in mid-2024. onboarding was longer than typical brokers (took 3 weeks for full verification) but smooth once done. their yen pair pricing IS noticeably better than most non-japanese brokers. for JPY focused trading they have a structural edge. for non-JPY trading, no particular advantage.

[tylerg]

+1. monex makes sense if you trade JPY pairs heavily. their access to japanese liquidity gives tighter spreads on USDJPY, EURJPY etc. for traders focused on USD or EUR pairs, the asia-centric advantages dont apply.

[deepnorth]

is japanese regulation strict like uk or more like offshore

[Hudson]

japanese FSA regulation is tier 1, very strict. mandatory segregated accounts, strong consumer protection, max leverage capped at 25:1 for major retail (lower than US even). very safe regulatory environment but limiting for high-leverage retail trading.

[lostsignal]

japanese broker, 25:1 max leverage. so basically you'd open this for the pleasure of trading like an institutional. enjoy the safety, miss out on the gambling fun.

[asherwood]

the 25:1 leverage cap actually forced me to think about position sizing properly when i tried a japanese broker. retail traders accustomed to 500:1 leverage become much more disciplined when its restricted. educational side effect.

[Nicholas]

for JPY pairs. otherwise skip.