Simple Q&A - Stock market investing

[Yossarian]

Is there a setting on Rakuten to automatically reinvest dividends for non-NISA accounts? I`ve looked all over the site and can't find it.

[fools_gold]

As far as I know, you can only choose this option at the time of purchase and it's only available for investment trusts, not stocks or ETFs.

[Yossarian]

As far as I know, you can only choose this option at the time of purchase and it's only available for investment trusts, not stocks or ETFs.

Fair enough - no auto invest makes dividend stocks less appealing to me.

[Viralriver]

Hi all, so I applied to trade options (knowing the risks) on my Rakuten account, but without any phone call, as they say they will do, they judged that I should not have that option and denied my request.. So looking for other.. options! If you have any suggestions for other brokers I can use, please let me know. Also, is there any problem with having multiple accounts open (taxes, for example)?

[Kanto]

Hi all, so I applied to trade options (knowing the risks) on my Rakuten account, but without any phone call, as they say they will do, they judged that I should not have that option and denied my request.. So looking for other.. options! If you have any suggestions for other brokers I can use, please let me know. Also, is there any problem with having multiple accounts open (taxes, for example)?

You know that Japanese brokers only have TSE options, right?

If you want NYSE/NASDAQ options you need to go with an international broker like IBKR.

...

Options are not popular in Japan so the requirements are probably pretty steep.

[fools_gold]

Hi all, so I applied to trade options (knowing the risks) on my Rakuten account, but without any phone call, as they say they will do, they judged that I should not have that option and denied my request.. So looking for other.. options! If you have any suggestions for other brokers I can use, please let me know. Also, is there any problem with having multiple accounts open (taxes, for example)?

Have you looked the answers to the investment questions you were asked when you applied for your account? If Rakuten don't think you have enough experience or financial security they will refuse you. You can change your answers on your customer information page.

[Viralriver]

Hi all, so I applied to trade options (knowing the risks) on my Rakuten account, but without any phone call, as they say they will do, they judged that I should not have that option and denied my request.. So looking for other.. options! If you have any suggestions for other brokers I can use, please let me know. Also, is there any problem with having multiple accounts open (taxes, for example)?

You know that Japanese brokers only have TSE options, right?

If you want NYSE/NASDAQ options you need to go with an international broker like IBKR.

...

Options are not popular in Japan so the requirements are probably pretty steep.

Ahh, that I did not know! I'll needto look into IBKR then. Do you know of any additional reporting I may need to do with them which is different to Rakuten? Assuming it is different at all...

@fools_gold: Yeah, I answered everything truthfully, I guess that was my problem!

[Kanto]

Hi all, so I applied to trade options (knowing the risks) on my Rakuten account, but without any phone call, as they say they will do, they judged that I should not have that option and denied my request.. So looking for other.. options! If you have any suggestions for other brokers I can use, please let me know. Also, is there any problem with having multiple accounts open (taxes, for example)?

You know that Japanese brokers only have TSE options, right?

If you want NYSE/NASDAQ options you need to go with an international broker like IBKR.

...

Options are not popular in Japan so the requirements are probably pretty steep.

Ahh, that I did not know! I'll needto look into IBKR then. Do you know of any additional reporting I may need to do with them which is different to Rakuten? Assuming it is different at all...

@fools_gold: Yeah, I answered everything truthfully, I guess that was my problem!

You need to do your own taxes. You also need to start with a 1,000,000 yen deposit I believe.

I use an IBKR Canadian account in which 25% of my capital gains are withheld for tax, and I do not need to file a return.

You need to spend a minimum of $10 a month, or you will be charged the difference.

However, they have (1) The single best exchange rates (2) Options to basically all markets and instruments and (c) a professional platform.

[Viralriver]

Thanks for that, incredibly helpful. The 1m I can do, and based on what you're saying, it's probably worthwhile I do all my non NISA investments there rather than rakuten in that case. Filing taxes won't be fun, but will cross that bridge when I need to!

[Kanto]

Thanks for that, incredibly helpful. The 1m I can do, and based on what you're saying, it's probably worthwhile I do all my non NISA investments there rather than rakuten in that case. Filing taxes won't be fun, but will cross that bridge when I need to!

Be advised, I believe sending money to IBKR Japan requires jumping through a few hoops. However, the Americans on this board who are forced to use it can advise you better than I can.