Rakuten Plans to Accept US Stock

The Japan-based forex broker Rakuten Securities says it will begin taking orders for US shares on Saturday. But the first transaction will only be registered on Monday during local US trading hours.

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The broker recently received approval to go public, made this announcement on its website on Friday. Traders, however, must open a foreign stock margin trading account in order to engage in US stock margin trading.

"Applying for and opening a margin trading account is free of charge. Applications are accepted from Sunday, June 19th," Rakuten explained.

The margin deposit rate for the company's US stock margin trading is 50%, according to information on the company's website.

Ratuken announced that it is preparing a campaign for all of its clients to mark the beginning of US stock margin trading on its platform. There won't be any transaction fees for US stock margin trading during the campaign. Rakuten also said that its clients who currently have margin trading accounts for domestic equities are eligible to take part in the promotion.

Once their margin trading account for US equities is opened, this group of clients becomes qualified, according to the broker.