WikiFX

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Reflecting on my experience as a trader, evaluating account types is key before committing to any broker. With Shikoku, what stands out is that detailed information about differentiated account types—such as tiered retail trading accounts with varying features or benefits—simply is not prominently available. Instead, their offering appears to be streamlined rather than diversified, focusing on access to a broad suite of instruments: forex, stocks, bonds, commodities, and investment trusts. For me, the lack of demo accounts and the absence of industry-standard platforms like MT4 or MT5 are limitations. Shikoku operates on a proprietary web-based platform, so traders familiar with globally recognized software may need to adapt. Fee structures are transparent, but can be quite high, especially for stock brokerage, which ranges from a modest JPY 2,750 to as high as JPY 275,000 for domestic trades, and the foreign stock trading fee climbs up to 11%. These costs could affect net returns, especially for active or lower-capital traders. Ultimately, the regulatory oversight by the Japanese FSA and a clear physical presence do inspire a degree of confidence in terms of legitimacy and operational stability. Still, for me, the lack of multiple account options and certain modern features makes Shikoku best suited to traders prioritizing security and access to Japanese markets over platform flexibility or low trading costs. Caution and careful fee analysis are essential when considering this broker.