ForexLicenses
1Top-tier

JFSA regulated forex brokers

Financial Services Agency of Japan · 🇯🇵 Japan

The Financial Services Agency of Japan (JFSA) is the financial regulator for Japan, established in 2000. ForexLicenses.com classifies it as tier 1 (top-tier regulation). We currently match 40 brokers in our database to an JFSA licence.

Japan is by volume the world's largest retail forex market, and the JFSA runs a tightly controlled regime for it. Firms register as Type I Financial Instruments Business Operators and must place client margin in a trust with a Japanese trust bank, so that client funds are ring-fenced if the broker fails. Leverage for individuals has been capped at 25:1 since 2011. The JFSA publishes a list of registered operators and a warning list of unregistered overseas firms soliciting Japanese residents; many well-known international brokers appear on that warning list for their offshore entities.

Key rules for retail clients

Tier
Tier 1 — Top-tier regulation
Compensation
No compensation fund, but client funds must be held in a mandatory trust (kubun kanri shintaku)
Leverage
25:1 on FX for individual traders
Negative balance protection
Not a regulatory requirement
Client money
Mandatory segregated trust with a trust bank
Complaints
FINMAC (Financial Instruments Mediation Assistance Center)

Brokers licensed by the JFSA 40

Broker Licences on record Licence Score Actions
1 I IG Spread betting & CFD provider, since 1974 ASICBaFinCFTC / NFAFCAFINMAJFSA+5 93Very strong Licences Visit site
2 FC FOREX.com Forex & CFD broker, since 2001 ASICCFTC / NFACIROFCAJFSAMAS+1 86Very strong Licences Visit site
3 S Saxo Trading bank, since 1992 ASICFCAFINMAJFSAMASSFC+2 84Very strong Licences Visit site
4 A AvaTrade Forex & CFD broker, since 2006 ASICCBIJFSAFSCAFSRA (ADGM)ISA+3 83Very strong Licences Visit site
5 IB Interactive Brokers Multi-asset broker, since 1978 ASICCBICFTC / NFACIROFCAJFSA+2 83Very strong Licences Visit site
6 O OANDA Forex & CFD broker, since 1996 ASICCFTC / NFACIROFCAJFSAMAS+2 82Very strong Licences Visit site
7 T ThinkMarkets Forex & CFD broker, since 2010 ASICFCAJFSACySECFSCACIMA 77Strong Licences Visit site
8 D Dukascopy Trading bank, since 2004 FINMAJFSABank of Latvia 69Strong Licences Visit site
9 AS Aizawa Securities Multi-asset broker, since 1918 JFSA 60Moderate Licences Visit site
10 DC DMM.com Securities Forex & CFD broker, since 2006 JFSA 60Moderate Licences Visit site
11 DS Daiwa Securities Multi-asset broker, since 1902 JFSA 60Moderate Licences Visit site
12 FB FXPRIME by GMO Forex & CFD broker, since 2004 JFSA 60Moderate Licences Visit site
13 FS Fujitomi Securities Forex & CFD broker, since 1952 JFSA 60Moderate Licences Visit site
14 GC GMO Click Securities Forex & CFD broker, since 2005 JFSA 60Moderate Licences Visit site
15 GC Gaitame.com Forex & CFD broker, since 1999 JFSA 60Moderate Licences Visit site
16 HS Himawari Securities Forex & CFD broker, since 1911 JFSA 60Moderate Licences Visit site
17 HT Hirose Tusyo Forex & CFD broker, since 2004 JFSA 60Moderate Licences Visit site
18 IS Invast Securities Forex & CFD broker, since 1960 JFSA 60Moderate Licences Visit site
19 JC JFX Corporation Forex & CFD broker, since 2006 JFSA 60Moderate Licences Visit site
20 KF Kanetsu FX Securities Forex & CFD broker, since 1991 JFSA 60Moderate Licences Visit site
21 MS Matsui Securities Multi-asset broker, since 1918 JFSA 60Moderate Licences Visit site
22 MU Mitsubishi UFJ eSmart Securities Multi-asset broker, since 1999 JFSA 60Moderate Licences Visit site
23 MI Monex Inc. Multi-asset broker, since 1999 JFSA 60Moderate Licences Visit site
24 MP Money Partners Forex & CFD broker, since 2005 JFSA 60Moderate Licences Visit site
25 MS Money Square Forex & CFD broker, since 2002 JFSA 60Moderate Licences Visit site
26 NS Nissan Securities Multi-asset broker, since 1948 JFSA 60Moderate Licences Visit site
27 OO Okasan Online Multi-asset broker, since 2002 JFSA 60Moderate Licences Visit site
28 RS Rakuten Securities Multi-asset broker, since 1999 JFSA 60Moderate Licences Visit site
29 SS SBI Securities Multi-asset broker, since 1944 JFSA 60Moderate Licences Visit site
30 SN SMBC Nikko Securities Multi-asset broker, since 1918 JFSA 60Moderate Licences Visit site
31 SB Sony Bank Trading bank, since 2001 JFSA 60Moderate Licences Visit site
32 TS Traders Securities Forex & CFD broker, since 2006 JFSA 60Moderate Licences Visit site
33 UH Ueda Harlow Forex & CFD broker, since 1918 JFSA 60Moderate Licences Visit site
34 CT Central Tanshi FX Forex & CFD broker, since 2007 JFSA 59Moderate Licences Visit site
35 FT FX Trade Financial Forex & CFD broker, since 2008 JFSA 59Moderate Licences Visit site
36 GO Gaitame Online Forex & CFD broker, since 2007 JFSA 59Moderate Licences Visit site
37 SS SBI Sumishin Net Bank Trading bank, since 2007 JFSA 59Moderate Licences Visit site
38 AJ au Jibun Bank Trading bank, since 2008 JFSA 59Moderate Licences Visit site
39 SF SBI FX Trade Forex & CFD broker, since 2011 JFSA 57Moderate Licences Visit site
40 PS PayPay Securities Multi-asset broker, since 2013 JFSA 56Moderate Licences Visit site

Frequently asked questions

How do I check if a broker is JFSA regulated?

Search the firm's name or licence number on the JFSA official register (https://www.fsa.go.jp/en/regulated/licensed/index.html), confirm the status is current and that the website domain you're using is listed, then check the JFSA warning list for clones.

Does the JFSA offer investor compensation?

No compensation fund, but client funds must be held in a mandatory trust (kubun kanri shintaku)

What leverage do JFSA-regulated brokers offer?

25:1 on FX for individual traders

Is negative balance protection required by the JFSA?

It is not a regulatory requirement under the JFSA, though some brokers offer it contractually.

Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. Consider whether you understand how they work and whether you can afford to take the high risk of losing your money. Read more.