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.