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No Regulation
Score
1.54 /10
Danger
Shinwa
5-10 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
Add brokers
Comparison
Expose
Exposure
Time Machine
Website
Score
Regulatory Index0.00
Business Index7.22
Risk Management Index0.00
Software Index4.00
License Index0.00
Time Machine
Website
Licenses
No valid regulatory information, please be aware of the risk
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
open now
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Warning: Low score, please stay away!
Previous Detection :
2024-12-24
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
Note: Shinwa's official website: https://www.shinwabank.co.jp/ is currently inaccessible normally.
| Shinwa Review Summary | |
| Founded | 1996 |
| Registered Country/Region | Japan |
| Regulation | No Regulation |
| Market Instruments | Forex, CFDs on stocks, indices, commodities, and cryptocurrencies |
| Demo Account | ✅ |
| Leverage | Up to 1:500 |
| EUR/USD Spread | From 0.2 pips |
| Trading Platforms | Web-based trading platform and mobile trading app |
| Minimum Deposit | $100 |
| Customer Support | / |
Shinwa is an unregulated brokerage company based in Japan. It claims to provide Forex, CFDs on stocks, indices, commodities, and cryptocurrencies with web-based trading platform and mobile trading app.
Pros and Cons
| Pros | Cons |
| Various Trading Instruments | Non-functional Website |
| Tight Spreads | Lack of Transparency |
| Popular Payment Methods | No Regulation |
Is Shinwa Legit?
Shinwa currently lacks valid regulation. It is not sure whether its domain was registered on Oct 2, 1996. We advise you to choose regulated brokers.
What Can I Trade on Shinwa?
Shinwa claims to offer indices, Forex, commodities, CFDs on stocks, and cryptocurrencies.
| Tradable Instruments | Supported |
| Forex | ✔ |
| CFDs | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Shares | ❌ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type
Shinwa provides Cent Account, Standard Account, and Pro Account.
| Account Type | Minimum Deposit |
| Cent Account | $100 |
| Standard Account | $2500 |
| Pro Account | $100000 |
Leverage
Shinwa offers leverage up to 1:500 on forex pairs and up to 1:20 on CFDs on stocks, indices, commodities, and cryptocurrencies. Leverage allows you to trade with a larger position than you would be able to with your own capital. However, it is important to use leverage carefully, as it can amplify your losses as well as your profits.
Spread & Commission
Shinwa's spreads are competitive, starting at 0.2 pips on EUR/USD. The company also charges commissions on some trades. The commission rate varies depending on the instrument and the account type.
| Account Type | Spread | Commission |
| Cent Account | 0.2 pips | 0.01 per lot |
| Standard Account | 0.2 pips | 0.02 per lot |
| Pro Account | 0.1 pips | 0.03 per lot |
Trading Platform
Shinwa offers a web-based trading platform and mobile trading app.
Deposit and Withdrawal
Shinwa supports payment methods through credit cards, debit cards, wire transfers, and e-wallets.
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