# currency trading



## christopheintheuk

Hi, I am looking for help on behalf of my wife.
When in Japan (currently in UK), we were using HSBC Japan which offered the opportunity to transfer money between different currency accounts of the same account holder. No transaction fee, no limit and everything on time through Internet Banking.

As HSBC Japan closed, we transferred everything to HSBC France. But the transfer between accounts (different currency, same holder) has to be done by fax or letter, it has a daily limit, and has transaction fee. Not friendly at all. HSBC UK somehow suggested me to not do Currency Transfer in UK as it has too much Tax.

I am looking for a platform within HSBC or not, Japanese or not, for non-Japanese-residents that could answer our needs. Forex with MetaTrade is too advance for us. Cannot figure out yet what to do.

Has HSBC have some off-shore accounts that could provide the service ? Is anybody eligible, at least UK-residents ?

My wife was also using Nikko Cordial, but we need to be Japan residents to use it.

regards


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## LolaH

I don't really know much about Japanese banks .. but i send my mother money every so often and the online service I've used was recommended to me by an old friend who traveled for work.

if you google the search word 
rational fx you should find them. As far as i know there's no restriction on your nationality to send money. 

I hope this helps, let me know what you think if you use them


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## larabell

I assumed the OP was looking for currency trading, not money sending. For what it's worth, Citibank has a similar account where you can move money between a number of different currencies and, as far as I know, you can do it all online (you can move money from yen to dollars online but I've never tried anything else myself). The problem is the Japanese banking laws which prohibit Citibank from opening accounts for non-residents. That may be why HSBC left town. And things are only getting stricter as time goes on.


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## christopheintheuk

One solution brought to me by HSBC is to open an off-shore account in the Jersey Islands. I talked to them about a couple of months ago, so any info would need to be double checked. They offer an online banking that allow to change currencies live (on time currency rate but proper transfer happening next working day) with no limit. Their office is around Mayfair if I remember well. It is mandatory to go there to meet an agent.
I was told, as part of HSBC, you can open account anywhere in the world. Somehow I doubt it because as mentioned by larabell, in Japan, only residents could open an account in Japan. This will depend on country's law.
I can share my experience if I decide to open an account there.


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## TheDomingoGroup

My suggestion would be to check out Citibank Japan. You can open a "multi-money" account which gives you access to currency trading between all the major currencies, and you can do it online. 

I cannot recall the daily limits. It's designed for ordinary individuals (as opposed to trading firms) so the limits are going to be what you would expect an individual to be trading on a regular basis.

To open this account you're going to need to be in Japan, and have an address there. It sounds like you have moved back to your home country, so this may not work for you. Since you posted in the Japan forum, I'm responding with information for Japan residency in particular.

Good luck!

James


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