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Broker 1

Broker 2

VS field	SBI Securities Japan sbisec.co.jp Stock BrokerETF BrokerETF	DEGIRO degiro.com ETF BrokerMulti Asset BrokerETF
Decision summary
Overall score

Trust score	82	100

Cost score	88	92

Platform score	86	92

Withdrawal score	83	89

Best for	Japan residents investing in domestic stocks, NISA, investment trusts and bonds · Active traders who want HYPER SBI 2 and multiple mobile apps · Investors who value broad product…	European self-directed investors seeking low-cost access to stocks and ETFs · Investors who prefer web/mobile platforms and exchange-traded products

Watch out	Needs verification	Needs verification

Trust & regulation
Regulators	Regulated under Japan FSA framework; registered with Kanto Regional Finance Bureau. Source	Primarily supervised by BaFin and Bundesbank in Germany; Dutch branch registered with DNB and supervised by AFM and DNB. Source
License numbers	Kanto Regional Finance Bureau(FIBO) No.44 / 関東財務局長（金商）第44号. Source	Financial licence number not disclosed in reviewed official sources. Commercial registrations found: flatexDEGIRO Bank SE HRB 141330 on flatexDEGIRO Bank SE imprint; DEGIRO UK footer states HRB 105687; Dutch Branch KvK 82510245. Source
Regulated entities	SBI SECURITIES Co., LTD. — Kanto Regional Finance Bureau(FIBO) No.44. Source	DEGIRO is operated by flatexDEGIRO Bank Dutch Branch, a branch of flatexDEGIRO Bank SE; flatexDEGIRO Bank SE is a licensed German bank headquartered in Frankfurt am Main. Source
Negative balance protection	No universal negative-balance protection; losses can exceed margin for FX, futures/options, commodity futures and CFDs. Source	No negative balance protection found. Official account-profile page warns losses can exceed deposit and result in a negative Balance for derivatives, margin and short-selling services; margin profiles are legacy-only. Source
Investor compensation	Japanese investor protection fund coverage up to 10 million yen per eligible customer; customer assets are segregated under FIEA. Source	Cash in flatexDEGIRO Bank SE Cash Account protected up to €100,000 per customer under German Deposit Guarantee Scheme; investor compensation covers up to 90% of non-returned assets, max €20,000 per customer; UK FSCS does not apply. Source
Restricted countries	Japan resident-only account opening; non-residents/overseas residents not accepted. Source	Available via listed country selector in Europe/UK; US persons are not accepted; UK onboarding for new clients was temporarily unavailable on the reviewed UK page. Source

Trust & regulation

Regulators

Regulated under Japan FSA framework; registered with Kanto Regional Finance Bureau.

Source

Primarily supervised by BaFin and Bundesbank in Germany; Dutch branch registered with DNB and supervised by AFM and DNB.

Source

License numbers

Kanto Regional Finance Bureau(FIBO) No.44 / 関東財務局長（金商）第44号.

Source

Financial licence number not disclosed in reviewed official sources. Commercial registrations found: flatexDEGIRO Bank SE HRB 141330 on flatexDEGIRO Bank SE imprint; DEGIRO UK footer states HRB 105687; Dutch Branch KvK 82510245.

Source

Regulated entities

SBI SECURITIES Co., LTD. — Kanto Regional Finance Bureau(FIBO) No.44.

Source

DEGIRO is operated by flatexDEGIRO Bank Dutch Branch, a branch of flatexDEGIRO Bank SE; flatexDEGIRO Bank SE is a licensed German bank headquartered in Frankfurt am Main.

Source

Negative balance protection

No universal negative-balance protection; losses can exceed margin for FX, futures/options, commodity futures and CFDs.

Source

No negative balance protection found. Official account-profile page warns losses can exceed deposit and result in a negative Balance for derivatives, margin and short-selling services; margin profiles are legacy-only.

Source

Investor compensation

Japanese investor protection fund coverage up to 10 million yen per eligible customer; customer assets are segregated under FIEA.

Source

Cash in flatexDEGIRO Bank SE Cash Account protected up to €100,000 per customer under German Deposit Guarantee Scheme; investor compensation covers up to 90% of non-returned assets, max €20,000 per customer; UK FSCS does not apply.

Source

Restricted countries

Japan resident-only account opening; non-residents/overseas residents not accepted.

Source

Available via listed country selector in Europe/UK; US persons are not accepted; UK onboarding for new clients was temporarily unavailable on the reviewed UK page.

Source

Costs & account conditions
Minimum deposit	0 JPY account-opening/management fee; investment trust accumulation from 100 JPY; no universal cash-deposit minimum found. Source	No fixed minimum deposit identified; DEGIRO homepage says users can add any amount of money to the account for free. Bank-account verification search result states minimum EUR 0.01 for linking a new bank account. Source
Spread from	Not disclosed in reviewed official sources; risk notice says FX costs are the buy/sell spread. Source	Not a quoted-spread CFD/FX broker field. DEGIRO discloses that bid-ask spreads are implicit market costs and not direct broker costs. Source
Commission	Conditional 0 JPY domestic stock commission and conditional 0 JPY NISA US stock/overseas ETF commission; product-specific fees may apply. Source	Examples from UK fee page: US stocks €1 + €1 handling; LSE £1.75 + £1 handling; selected ETFs €0 + €1 handling; global ETFs €2 + €1 handling; options €0.75 commission. Currency, connectivity, external product and spread costs may apply. Source
Maximum leverage	SBI FX retail customers initially use the 25x course; courses up to 25x are available, with certain pairs capped lower. Source	DEGIRO currently does not allow new changes to margin-trading profiles; legacy Active/Trader/Day Trader accounts may have Debit Money / derivatives risk but maximum leverage was not disclosed in reviewed sources. Source
Deposit fee	Instant, Japan Post Bank transfer, real-time, direct debit, foreign-currency deposit and USD recurring automatic deposits are free; bank transfer deposit is customer-borne. Source	No deposit fee disclosed on UK fee page and homepage; deposits listed as FEE €0 / no deposit-withdrawal fees. Source
Withdrawal fee	Withdrawal fees: free for listed yen, real-time and foreign-currency withdrawals. Source	No withdrawal fee disclosed on UK fee page and homepage; withdrawals listed as FEE €0 / no deposit-withdrawal fees. Source
Inactivity fee	No inactivity fee disclosed; account opening/management fee free. Source	No inactivity fee; UK fee page lists inactivity fee as €0. Source

Costs & account conditions

Minimum deposit

0 JPY account-opening/management fee; investment trust accumulation from 100 JPY; no universal cash-deposit minimum found.

Source

No fixed minimum deposit identified; DEGIRO homepage says users can add any amount of money to the account for free. Bank-account verification search result states minimum EUR 0.01 for linking a new bank account.

Source

Spread from

Not disclosed in reviewed official sources; risk notice says FX costs are the buy/sell spread.

Source

Not a quoted-spread CFD/FX broker field. DEGIRO discloses that bid-ask spreads are implicit market costs and not direct broker costs.

Source

Commission

Conditional 0 JPY domestic stock commission and conditional 0 JPY NISA US stock/overseas ETF commission; product-specific fees may apply.

Source

Examples from UK fee page: US stocks €1 + €1 handling; LSE £1.75 + £1 handling; selected ETFs €0 + €1 handling; global ETFs €2 + €1 handling; options €0.75 commission. Currency, connectivity, external product and spread costs may apply.

Source

Maximum leverage

SBI FX retail customers initially use the 25x course; courses up to 25x are available, with certain pairs capped lower.

Source

DEGIRO currently does not allow new changes to margin-trading profiles; legacy Active/Trader/Day Trader accounts may have Debit Money / derivatives risk but maximum leverage was not disclosed in reviewed sources.

Source

Deposit fee

Instant, Japan Post Bank transfer, real-time, direct debit, foreign-currency deposit and USD recurring automatic deposits are free; bank transfer deposit is customer-borne.

Source

No deposit fee disclosed on UK fee page and homepage; deposits listed as FEE €0 / no deposit-withdrawal fees.

Source

Withdrawal fee

Withdrawal fees: free for listed yen, real-time and foreign-currency withdrawals.

Source

No withdrawal fee disclosed on UK fee page and homepage; withdrawals listed as FEE €0 / no deposit-withdrawal fees.

Source

Inactivity fee

No inactivity fee disclosed; account opening/management fee free.

Source

No inactivity fee; UK fee page lists inactivity fee as €0.

Source

Markets, platforms & payments
Tradable assets	Domestic/foreign stocks, ETFs, investment trusts, bonds, FX, futures/options, CFDs, precious metals, NISA, iDeCo and SBI Wrap. Source	Shares, ETFs, bonds and derivatives such as options and futures; DEGIRO product pages also describe investment funds availability. Source
Trading platforms	Web trading site, mobile apps and HYPER SBI 2 desktop platform. Source	DEGIRO provides a web/desktop trading platform (Webtrader) and mobile apps for iOS and Android. Source
Account types	General securities, NISA, iDeCo, minor, corporate, foreign stock, FX, futures/options and wrap/managed-service account capabilities. Source	DEGIRO account/profile types include Basic, Active, Trader, Day Trader and Custody. Active, Trader and Day Trader are legacy-only and new margin profiles are no longer available. Source
Deposit methods	Instant deposit, bank transfer, Japan Post Bank transfer, real-time deposit, bank direct debit, foreign-currency deposit and USD recurring automatic deposit. Source	Manual bank transfer from a verified linked/reference bank account; deposits must use the account base currency. Source
Withdrawal methods	Yen withdrawal, real-time withdrawal and foreign-currency withdrawal service. Source	Withdrawals go back to the primary registered/linked bank account; only uninvested cash in the Cash Account can be withdrawn. Source
Withdrawal processing time	Standard withdrawal: before 16:00 -> next bank business day; after 16:00 -> second following bank business day; real-time withdrawal available for eligible setup. Source	Withdrawals may take up to 2-4 working days; transfers can take up to 2-3 working days to complete. Source

Markets, platforms & payments

Tradable assets

Domestic/foreign stocks, ETFs, investment trusts, bonds, FX, futures/options, CFDs, precious metals, NISA, iDeCo and SBI Wrap.

Source

Shares, ETFs, bonds and derivatives such as options and futures; DEGIRO product pages also describe investment funds availability.

Source

Trading platforms

Web trading site, mobile apps and HYPER SBI 2 desktop platform.

Source

DEGIRO provides a web/desktop trading platform (Webtrader) and mobile apps for iOS and Android.

Source

Account types

General securities, NISA, iDeCo, minor, corporate, foreign stock, FX, futures/options and wrap/managed-service account capabilities.

Source

DEGIRO account/profile types include Basic, Active, Trader, Day Trader and Custody. Active, Trader and Day Trader are legacy-only and new margin profiles are no longer available.

Source

Deposit methods

Instant deposit, bank transfer, Japan Post Bank transfer, real-time deposit, bank direct debit, foreign-currency deposit and USD recurring automatic deposit.

Source

Manual bank transfer from a verified linked/reference bank account; deposits must use the account base currency.

Source

Withdrawal methods

Yen withdrawal, real-time withdrawal and foreign-currency withdrawal service.

Source

Withdrawals go back to the primary registered/linked bank account; only uninvested cash in the Cash Account can be withdrawn.

Source

Withdrawal processing time

Standard withdrawal: before 16:00 -> next bank business day; after 16:00 -> second following bank business day; real-time withdrawal available for eligible setup.

Source

Withdrawals may take up to 2-4 working days; transfers can take up to 2-3 working days to complete.

Source

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