How to choose an exchange
- Author
- CRYPTO PORT Editorial
- Published
- Updated
- Reading time
- 7 min
In short
In Japan, first confirm the operator is registered with the FSA. Then compare on three things: whether it lists what you want, whether you trade on a brokerage or an order book, and the fees.
Key points
- Check FSA registration first
- Order-book trading is usually cheaper than the brokerage
- Confirm the assets you want are listed
- Check for the features you need — recurring buys, staking
Definition
A business that intermediates crypto trades. In Japan, registration with the FSA is required under the Payment Services Act.
On the brokerage you trade at the operator's quoted price. It is simple, but the bid-ask spread is your real cost. On the order book you trade with other users and can place limit orders — usually cheaper for the same asset.
Fees are not just the trading fee. Check deposit, withdrawal and transfer fees too. If you trade small amounts often, withdrawal fees dominate.
Holding accounts at several exchanges is normal — listings differ, so people pick per purpose.
Watch out for
- · Global exchanges may not be registered in Japan, leaving you unprotected in a dispute
- · Margin trading can lose more than you deposited
Frequently asked questions
Does opening an account cost anything?
Most Japanese exchanges do not charge to open or maintain an account, but trading and withdrawals have fees. Check each operator's official site for current terms.