Brokers With JPY Accounts

Brokers with JPY accounts make managing your trading portfolio in Japanese Yen hassle-free. Due to Japan’s massive international economy, the Yen is the third most traded currency worldwide after the U.S. Dollar and Euro, making up 19% of the daily forex market turnover. This page will explain how JPY accounts work, including their benefits. We also list the best brokers with JPY accounts below.

Brokers With JPY Accounts

These are the 5 best brokers that offer accounts with JPY as the base currency:

Brokers With JPY Accounts Comparison

Brokers With JPY Accounts Comparison
Broker Minimum Deposit Instruments Platforms Visit
FOREX.com logo
$100 Forex, Spot Metals MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral Visit
Interactive Brokers logo
$0 Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral Visit
OANDA US logo
$0 Forex, Crypto OANDA Trade, MT4, TradingView, AutoChartist Visit
IG logo
$0 CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral Visit
ForexChief logo
$10 CFDs, Forex, Metals, Commodities, Stocks, Indices MT4, MT5 Visit
Revolut logo
$0 Stocks, Cryptos Own Visit
Kraken logo
$10 Cryptos AlgoTrader Visit
Coinmama logo
$30 Cryptos Own Visit
Zacks Trade logo
$2500 Stocks, ETFs, Cryptos, Options, Bonds Own Visit

#1 - FOREX.com

Why We Chose FOREX.com

Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

- DayTrading Review Team
  • Instruments: Forex, Spot Metals
  • Regulator: NFA, CFTC
  • Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
  • Minimum Deposit: $100
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:50

Pros

  • Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
  • With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
  • There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.

Cons

  • Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
  • There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
  • Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.

#2 - Interactive Brokers

Why We Chose Interactive Brokers

Interactive Brokers (IBKR) is a premier brokerage for experienced traders, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."

- DayTrading Review Team
  • Instruments: Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
  • Regulator: FCA, SEC, FINRA, CBI, CIRO, SFC, MAS, MNB
  • Platforms: Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
  • Minimum Deposit: $0
  • Minimum Trade: $100
  • Leverage: 1:50

Pros

  • While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.
  • With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
  • There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.

Cons

  • TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
  • You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
  • Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.

#3 - OANDA US

Why We Chose OANDA US

OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.

"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."

- DayTrading Review Team
  • Instruments: Forex, Crypto
  • Regulator: NFA, CFTC
  • Platforms: OANDA Trade, MT4, TradingView, AutoChartist
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:50

Pros

  • The proprietary OANDA web platform continues to deliver a highly competitive charting environment, including 65+ technical indicators powered by TradingView
  • Seasoned day traders can access industry-leading tools, including an MT4 premium upgrade and advanced charting provided by MotiveWave
  • OANDA is a reliable, trustworthy and secure brand with authorization from tier-one regulators including the CFTC

Cons

  • The range of day trading markets is limited to forex and cryptos only
  • It's a shame that customer support is not available on weekends
  • There's only a small range of payment methods available, with no e-wallets supported

#4 - IG

Why We Chose IG

Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
  • Regulator: FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA
  • Platforms: Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:250 (Pro)

Pros

  • The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our Best Trading App award
  • IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis
  • As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust

Cons

  • Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
  • While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
  • Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests

#5 - ForexChief

Why We Chose ForexChief

ForexChief is a foreign exchange and CFD broker, established in 2014. The company is based offshore and registered with the VFSC and FMA. Users can choose between a wide selection of accounts and base currencies, making ForexChief accessible to global traders. The brand also stands out for its no deposit bonus and fee rebates for high-volume traders.

"ForexChief continues to prove popular with investors looking to trade highly leveraged CFDs on the popular MetaTrader platforms. The broker's rebate scheme and investment accounts will particularly appeal to seasoned traders. However, the lack of top-tier regulatory oversight is a major drawback."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Metals, Commodities, Stocks, Indices
  • Regulator: VFSC
  • Platforms: MT4, MT5
  • Minimum Deposit: $10
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:1000

Pros

  • The low minimum deposit of $10 will appeal to beginners, as well as the beginners’ guides in the Library
  • Traders can access a copy trading solution via the MetaQuotes Signals service
  • The broker offers a turnover rebate scheme geared towards active investors, as well as trading credits and several other occasional bonuses

Cons

  • ForexChief is an offshore broker with weak regulatory oversight from the VFSC, so traders will receive limited safeguards
  • The total range of 150+ assets is much lower than most competitors who typically offer hundreds
  • Fees and minimums are imposed on most withdrawal methods, including a €60 minimum for SWIFT bank transfers

What Is A JPY Account?

A JPY account is an online trading account that uses the Japanese Yen as its base currency. This type of account holds many benefits for Japanese traders or traders from the Republic of the Union of Myanmar. The Yen is widely used as a reserve currency after USD, EUR and GBP, making it a stable currency and an attractive base currency for many traders.

Brokers with a JPY account allow users to trade on popular forex pairs such as the JPY/USD and JPY/EUR as well as cryptos and other assets without currency conversion fees.

Pros Of Brokers With JPY Accounts

Holding a JPY account provides several advantages:

How To Check A Broker Offers A JPY Account

Not all brokerages allow users to open a trading account denominated in Japanese Yen. Check the accounts section on their website to see if they offer a JPY account. If this is not clear, get in touch with their customer service department. Most reputable brokers offer a 24/7 live chat or phone line which can point you in the right direction.

How To Compare Brokers With JPY Accounts

If you are interested in opening a JPY account but are unsure which broker to go for, we have compiled a list of things to look out for:

Taxes

If you are trading in Japan using brokers with JPY accounts, you may need to pay capital gains tax. A non-resident or non-permanent resident must only pay capital gains tax on income received in Japan, while a resident must pay capital gains tax on all income received, either in Japan or abroad. If you earn ¥200,000 or more from trading, these profits are considered miscellaneous income and are taxable. The basic rate of capital gains tax in Japan is 20%.

Consult a local tax advisor for clarity before you start trading.

Final Word On Brokers With JPY Accounts

With a high GDP, a solid industrial base, and some of the best-known companies in the world, Japan is an attractive location for investors. Furthermore, Japan currently has the most progressive regulatory system in the world for cryptocurrencies and is one of the only countries that recognises Bitcoin and other digital currencies as legal property under the Payment Services Act (PSA).

There are many Japanese and international brokers that accept JPY as the base currency. Make sure to carry out research and choose a broker which is best suited to your needs.

FAQ

Which Brokers Have A JPY Account?

Many brokers have a strong international presence, with several offices around the globe. Some reputable brokers who work in Japan include IG, Ayondo, Plus 500, Interactive Brokers, Saxo and Pepperstone.

Yes, Japan has one of the world’s most progressive regulatory systems for cryptocurrency. Bitcoin and other digital currencies are recognised as legal property under the Payment Services Act (PSA).

How Do I Choose A Broker With A JPY Account?

When deciding between JPY brokers there are several factors to consider. These include market access, fees, regulation, rewards, platforms and mobile apps. Check out our list for our top picks.

Is Trading In Japan A Good Idea?

Japan has the world’s third-largest GDP, trailing the USA and China. It also has one of the biggest Bitcoin markets in the world. This coupled with a highly educated population, a strong industrial base, plus some of the biggest brands in the world means that Japan is an attractive location for traders from across the globe.

Do I Pay Taxes Trading In Japan?

If you earn ¥200,000 or more from trading, these profits are considered miscellaneous income and are therefore taxable. The basic rate of capital gains tax in Japan is 20%. In December 2017, the National Tax Agency ruled that gains on cryptocurrencies should also be considered miscellaneous income and taxed accordingly.