Rakuten Securities Hits 15 Million Accounts and Launches Zero-Fee U.S. Stock Margin Trading

Rakuten Securities has surpassed 15 million general securities accounts, cementing its position as Japan’s largest non-consolidated online brokerage. For fintech professionals, this milestone highlights the rapid acceleration of retail participation in the Japanese market, driven by aggressive fee elimination and the introduction of specialized asset-building tools for younger demographics.

What was announced

Rakuten Securities reached the 15 million account milestone in November 2026, adding one million new users in approximately seven months since hitting the 14 million mark in April 2026. This growth follows a sustained effort to lower entry barriers for retail investors, most notably through the elimination of domestic stock trading fees in October 2023. The firm is now extending this commission-free pricing model to U.S. stock margin trades, effective November 2026.

The brokerage has introduced several products designed to facilitate micro-investing and long-term asset building. These include KabuPita®, an industry-first initiative that allows the trading of domestic stocks starting from 100 yen in 1 yen increments, and the Rakuten Money Fund, a money reserve fund (MRF) offering favorable yields. Additionally, on October 1, 2026, the company began accepting applications for “Kodomo NISA” (Children’s NISA) accounts, a product specifically designed to help customers under the age of 18 build assets.

To support its expanding user base, Rakuten Securities has focused on digital security by implementing passkey authentication using FIDO2 technology across all its channels, including mobile apps and trading tools. This move is intended to provide a secure environment for a diverse range of users, from investment newcomers to seasoned traders, as the company seeks to maximize financial well-being through its digital platform.

The companies involved

Rakuten Securities is a major player in the Japanese financial services sector, having launched in 1999 as the country’s first dedicated online brokerage service. Since its inception, the firm has focused on building a digital-first asset-building platform tailored to retail investors. It operates in a highly competitive domestic market, where it has consistently sought to differentiate itself through low-cost structures and integration with broader digital services.

The company’s growth is a reflection of its transition from a niche service for active traders into a mass-market platform. By leveraging its early-mover advantage in the online space, Rakuten Securities has become a leading non-consolidated entity in terms of account volume. Its recent initiatives, such as the introduction of fractional trading and specialized tax-advantaged accounts like the Children’s NISA, reflect a broader strategy to capture the lifetime value of Japanese households. The firm continues to expand its array of services to meet diverse investment needs while maintaining a focus on technical security and cost-effective trading environments.

What FF News has reported before

FF News has previously tracked developments affecting the broader trading landscape in which Rakuten Securities operates. In September 2026, the publication covered how LEIFRAS ADSs Set to Benefit from Nasdaq 23-Hour Extended Trading Schedule. This shift in global trading hours is particularly relevant for Japanese brokerages like Rakuten Securities, which are increasingly facilitating U.S. market access for domestic retail investors. As these platforms expand their U.S. stock offerings and margin trading capabilities, the alignment with extended global trading schedules becomes a critical factor for maintaining competitive retail engagement and providing seamless cross-border investment opportunities.

What this means

The race to zero commissions in Japan is reaching a critical inflection point. Rakuten Securities’ ability to add a million accounts in just seven months suggests that the removal of fee barriers remains a potent driver of customer acquisition, even in a mature market. However, this "race to the bottom" on pricing puts immense pressure on smaller brokerages that lack the scale to offset lost commission revenue. The industry is likely to see a pivot toward more complex, fee-based advisory services as basic execution becomes entirely commoditized. Furthermore, the focus on NISA accounts for minors indicates that the next battleground for market share will be long-term, multi-generational wealth management.