Best Brokerage in Japan for Foreigners: SBI vs Rakuten vs Monex

Quick answer (30 seconds): For most foreign residents, SBI Securities and Rakuten Securities are the two go-to online brokerages — both open accounts fully online, charge low or zero fees on funds, and support the tax-free NISA and iDeCo accounts. Monex is a strong third choice if you focus on US stocks. To open any of them you need three things: a residence card with a registered Japanese address, a My Number, and a Japanese bank account. English support is partial at all three, so expect some Japanese in the process.

Disclaimer: General information, not financial, tax, or investment advice. Eligibility, fees, and product line-ups change and depend on your situation — confirm current details on the brokerage's official site and consider a licensed financial planner or tax accountant.

Who can open a brokerage account in Japan?

Nationality is not the barrier. What matters is that you are a resident of Japan for tax purposes. To open an account with any of the big online brokerages, you generally need:

• A residence card (在留カード, zairyu card) showing your registered Japanese address
• A My Number (個人番号) — the 12-digit tax ID issued to every resident, citizens and foreign residents alike. Brokerages are legally required to collect it.
• A Japanese bank account to fund the brokerage and receive sale proceeds
• To be 18 or older

You do not need permanent residency or a specific visa type. A valid mid-to-long-term residence status with a registered address is the practical requirement. Some brokers or products may apply a "lived in Japan for 6+ months" style check — confirm on the official site.

If you are not a Japanese resident (you live abroad), opening a new account is very difficult — Japanese brokerages generally will not take non-resident applicants. So open your account while you are living in Japan, not after you leave.

The two accounts most foreigners want: NISA and iDeCo

The main reason to use a Japanese brokerage rather than a foreign one is access to Japan's two tax-advantaged accounts.

• NISA — a tax-free investment account. Inside it, your gains and dividends are not taxed (outside it, investment gains are taxed at roughly 20%). It is flexible: you can sell and withdraw anytime.
• iDeCo (個人型確定拠出年金) — a private retirement account. Contributions are income-tax deductible, but the money is locked until age 60.

All three brokerages here support both NISA and iDeCo. For how each account works and the foreigner-specific catches (especially the iDeCo "can't cash out when you leave" trap), see the dedicated guides:

• iDeCo for foreign residents — the tax break and the leaving-Japan catch
• Can foreigners open a NISA at Rakuten Securities? — name traps and forced-cancellation rules

Quick NISA refresher (2024 onward)

The current "New NISA" framework set by the Financial Services Agency:

Feature	Amount
Accumulation (Tsumitate) frame	Up to ¥1.2 million / year
Growth frame	Up to ¥2.4 million / year
Combined annual limit	Up to ¥3.6 million / year
Lifetime tax-free holding limit	¥18 million (Growth portion capped at ¥12 million)
Tax-free holding period	Indefinite
Eligibility	Resident of Japan, age 18+

You can hold a NISA at only one brokerage at a time. You can switch providers, but it is a yearly administrative process — so it's worth choosing well the first time.

SBI vs Rakuten vs Monex at a glance

All three are major, FSA-registered online brokerages with no account-maintenance fee, online opening, and the full range of NISA-eligible funds. The differences are at the margins.

	SBI Securities	Rakuten Securities	Monex
NISA & iDeCo	✅ Both	✅ Both	✅ Both
Account opening	Online	Online	Online
Best known for	Largest user base, low costs, broad product range	Easy app, points ecosystem, beginner-friendly	US stocks and research/analysis tools
Ecosystem tie-in	Points via partner programs	Integrates with the Rakuten points/services world	Standalone, US-market focus
English in the process	Partial — expect some Japanese	Partial — expect some Japanese	Partial — expect some Japanese

Fees, point-program details, and exact product counts change frequently and are competitive between SBI and Rakuten. Don't pick on a headline fee you read in a blog — check the current fee schedule on each official site before deciding.

When to lean toward each

• Choose SBI Securities if you want the broadest product range and the largest, most-documented platform. It is the most common default among long-term investors in Japan.
• Choose Rakuten Securities if you already use Rakuten services, want a beginner-friendly app, and value the points ecosystem. Its NISA onboarding is widely used by foreign residents.
• Choose Monex if your main interest is US stocks and you want strong analysis tools. It is the specialist pick of the three.

There is no single "best" — for a first NISA, SBI or Rakuten is the safe, mainstream answer.

A realistic word on English support

This is where expectations matter. None of the three is a fully English-language brokerage. In practice:

• The marketing and some help pages may be in English, but the core trading screens, contract documents, and account-opening forms are largely in Japanese.
• You will likely need to read some Japanese (or use a translation app) during opening and when reading legal disclosures.
• Customer support in fluent English is limited — don't assume phone support in English.

If you need a genuinely English-first experience, some foreigners use a separate English-speaking advisory service, or lean on the Rakuten/SBI guides written by other residents. But the tax-free NISA and iDeCo accounts only exist inside Japanese brokerages — there is no English-only shortcut to them. A translation app plus a step-by-step guide is the normal path. See translation apps and devices for life in Japan.

How to open an account (typical flow)

The online process is similar across all three:

1. Get your documents ready — residence card, My Number (card or notification slip), and a Japanese bank account.
2. Start the online application on the brokerage's site or app. Enter your name exactly as printed on your residence card (Romaji or official Katakana). A mismatched or mis-split middle name is a common cause of rejected applications.
3. Choose your account type — open the NISA account at the same time if you want it (you can only have NISA at one broker). A "specified account / tokutei kōza" handles tax paperwork for your taxable holdings.
4. Verify your identity — usually by uploading photos of your residence card and My Number, sometimes with a selfie/eKYC step.
5. Wait for approval — typically a few days to a couple of weeks; NISA needs a tax-office check, which adds time.
6. Fund the account from your Japanese bank and start investing.

Tip: open the brokerage account and the NISA account together at the start. Adding NISA later means another round of the tax-office approval wait.

What happens to your investments if you leave Japan

This is the most-missed point for foreigners, and it differs by account:

• NISA: when you stop being a Japanese resident (you deregister your address and leave), your NISA is generally closed and your holdings are moved into a regular taxable account. Non-residents cannot keep using NISA. If you're leaving temporarily on an employer transfer, some brokers let you file a continuation application with the tax office to keep it — confirm with your broker before you go.
• iDeCo: the money is locked until 60 and you generally cannot cash it out just for moving abroad. See the iDeCo guide.
• Taxable holdings: brokerages may also restrict or close accounts held by non-residents, so plan an exit before departure.

Bottom line: open early, and plan your exit before you leave. Decide in advance whether you'll sell, transfer, or (where allowed) keep an account, so you're not forced into a rushed sale.

FAQ

1. Can I open a Japanese brokerage account on a work or student visa? Yes. Visa type is not the test — having a residence card with a registered Japanese address, a My Number, and a Japanese bank account is. You do not need permanent residency.

2. Do I really need a My Number? Yes. Brokerages are legally required to collect your My Number to open an account. Every resident, including foreign residents, is issued one.

3. Which is best for a beginner — SBI, Rakuten, or Monex? For a first NISA, SBI or Rakuten is the mainstream, well-documented choice. Pick Rakuten if you like its app and points world; pick Monex mainly if you focus on US stocks.

4. Can I use these brokerages in English? Partly. Some help content is in English, but core screens and documents are largely Japanese, and English support is limited. Expect to use a translation app.

5. Can I keep my NISA if I move abroad? Usually no — leaving Japan typically closes the NISA and moves your holdings to a taxable account. A temporary employer transfer may qualify for a continuation application; confirm with your broker before departure.

Sources

• Financial Services Agency (金融庁) — New NISA framework, limits, and eligibility: https://www.fsa.go.jp/policy/nisa2/
• National Tax Agency (国税庁) — My Number for tax reporting on financial accounts: https://www.nta.go.jp/
• iDeCo official site (国民年金基金連合会 / National Pension Fund Association) — iDeCo eligibility and rules: https://www.ideco-koushiki.jp/english/

Related guides

• iDeCo for foreign residents
• Can foreigners open a NISA at Rakuten Securities?
• Opening a bank account in Japan
• My Number card complete guide

Last updated: 2026-06-20