Regulator profile · JP
JFSA — Financial Services Agency of Japan
Tracked byBrokerlist Editorial · Independent review teamUpdated
The Financial Services Agency of Japan (JFSA) is the integrated financial regulator overseeing banking, insurance and securities. Retail forex providers require a Type I Financial Instruments Business licence under the Financial Instruments and Exchange Act (FIEA). Japan historically had the world's largest retail FX market and remains heavily regulated.
Brokers in Japan accepting residents under JFSA- Jurisdiction
- Japan.
- Founded
- 2000
- Mandate
- Established under the Financial Services Agency Establishment Law, taking over from the Ministry of Finance's former Banking Bureau and the FSA Reform of 2000. JFSA enforces FIEA, the Banking Act and the Insurance Business Act. It also licenses cryptocurrency exchanges under the Payment Services Act amendment of 2017.
- Consumer protection
- The Japan Investor Protection Fund (Nihon Toshisha Hogo Kikin) covers up to JPY 10 million per investor for losses caused by member-firm failures. Negative balance protection has been mandatory for retail FX accounts since 2010, paired with strict client-fund segregation rules under FIEA.
- Retail leverage caps
- Retail FX leverage capped at 1:25 — one of the strictest globally — since the 2011 product-intervention rules (initially 1:50, lowered to 1:25 in 2011). No professional-investor or accredited-client exemption raises the cap. Crypto-asset margin trading is separately capped at 1:2.
- Public register
- JFSA publishes lists of all licensed financial instruments business operators by type (Type I for securities and FX, Type II for collective investment schemes, Investment Advisory, etc.). Cross-reference with industry associations like FFAJ for FX-specific verification. Open register ↗
- Dispute resolution
- Unresolved retail complaints go to FINMAC (Financial Instruments Mediation Assistance Center) — non-binding mediation. Investors can also escalate to civil courts; FINMAC mediation is widely accepted by member firms.
- Editor notes
- Japan retail FX peaked at over $5 trillion notional/year in early 2010s; volume has moderated but remains regionally dominant. Major JFSA-licensed retail brokers: GMO Click, DMM FX, SBI FXTrade, Money Partners, Hirose. JFSA actively prosecutes foreign brokers soliciting Japanese residents without licence.
Brokers we track with a JFSA licence
No brokersNo tracked broker currently holds a JFSA licence in our database.