Overview: Metaplanet Inc. is a Japanese company listed on the Tokyo Stock Exchange (TSE ticker 3350) and, as of late 2024, also trades in the U.S. as an OTC stock (OTCQX ticker MTPLF). It has no ADR on NYSE/Nasdaq – instead, U.S. investors can buy it via its OTCQX listing or through an international trading account on the TSE. In other words, you can own Metaplanet from the U.S., either by buying the OTCQX shares (in USD) or by buying the Tokyo shares (in JPY) through a broker that offers global trading . Below is a step-by-step guide to make this happen!
Steps to Buy Metaplanet
- Confirm Metaplanet’s U.S. Availability. Metaplanet trades on the Tokyo Stock Exchange under code 3350.T and on the U.S. OTCQX market as MTPLF . There is no ADR for Metaplanet on a U.S. exchange – instead, the OTCQX listing is how U.S. investors access it. In practice, that means you can buy MTPLF on your broker’s OTC market, just like any other stock. This OTCQX tier is a reputable market, so many brokers (Fidelity, Schwab, etc.) will allow trading in it. If your broker supports OTCQX stocks, you can simply trade MTPLF during U.S. market hours (in USD). Alternatively, you can buy the Tokyo-listed shares (ticker 3350 on TSE) through a broker’s international trading platform, which will require converting your dollars into yen. Either way, Metaplanet is available to U.S. investors .
- Choose a Brokerage Platform. Not all brokers offer direct access to Japanese stocks, so pick one that does. For example, Fidelity explicitly supports trading in Japanese markets . Its site lists “Japan” as an available market , meaning you can place orders on the Tokyo Exchange (or trade the OTC symbol) once international trading is enabled. Similarly, Charles Schwab offers a Global Account that lets you trade directly on many foreign exchanges (including Tokyo) in local currency . (The Schwab Global Account even shows Japan in examples: “buying a Japanese stock on the Tokyo Stock Exchange will settle in Japanese Yen” .) In contrast, TD Ameritrade does not allow ordinary U.S. accounts to trade foreign stocks directly – it offers only ADRs and certain other limited options . Likewise, E*TRADE does not support direct trading of Japanese shares . (A brokercomparer notes “you can’t trade Japanese stocks at E*TRADE” .) In practice, the easiest brokers for this are Fidelity and Schwab (or others like Interactive Brokers), since they offer full international trading. Fidelity and Schwab also allow trading of OTCU.S. listings like MTPLF (Fidelity permits OTC trades except Pink-sheet names ).
- Set Up Your Account for International Trading. Make sure you have the right type of account and any paperwork completed. Major brokers generally require a non‑retirement cash or margin account with international trading enabled. For example, Fidelity says “Non‑retirement brokerage accounts are eligible for international trading” , implying IRAs usually cannot trade foreign stocks directly. Schwab requires U.S. residency and a special “Global Account” setup – this involves submitting a paper form to Schwab (there’s no fully online signup) . After you open (or upgrade) your account, you’ll often need to sign an international trading agreement or form, and fund it with U.S. dollars. In some cases you might pre-exchange USD to JPY (see below). Also, check with your broker about any minimum balances or additional approvals. (For instance, Schwab’s Global Account has no minimum, but you must call to request certain features .) In short: confirm your broker account is eligible (cash/margin, not IRA, U.S.-based), enable international trading per their instructions, and complete any required documentation or currency-settlement settings.
- Place Your Trade (including fees & currency). Once your account is ready, you can buy Metaplanet either via OTC or directly on TSE:
- Buying OTCQX (MTPLF) in USD: Simply enter the symbol MTPLF (or search “Metaplanet OTC”) during U.S. market hours and place your order in USD. This works like a normal U.S. trade (settles T+2). Most brokers (Fidelity, Schwab) treat OTC trades like any other stock trade. Check if there’s any special OTC commission – many brokers charge $0 commissions on stocks, including OTC if they allow it. (Fidelity allows OTC trades; it only excludes the very speculative “pink sheet” stocks , which does not apply to an OTCQX listing.)
- Buying on Tokyo (code 3350.T): If you choose to buy directly on the Tokyo Exchange, use your broker’s international trading interface. For example, on Fidelity you might enter 3350:JP (the format symbol:country) to indicate the TSE listing . (On Schwab’s Global Account you would select Japan as the market and find Metaplanet’s ticker.) Your broker will execute the trade in yen. You can usually choose to settle in USD or JPY. If you settle in USD, the broker will convert currency for you (see below). After submission, your trade will clear on Tokyo’s T+2 schedule .
Fees & Conversion: Expect a commission on foreign trades plus currency costs. For instance, Fidelity charges ¥3,000 per trade (online rate) for Japan orders , and Schwab charges ¥2,000 for an online trade . (These are roughly $20–$25 USD.) In addition, if you choose to pay in dollars, you’ll incur a currency conversion fee. Fidelity embeds a spread of up to about 1% for <$100K conversions ; Schwab’s Global Account has a tiered FX fee from 0.2% down to 1% (1% for <$100K) . You can minimize this by converting a chunk of USD to JPY in advance, then settling in JPY so each trade avoids repeated FX fees . Also factor in any local taxes or exchange levies (Japan currently has no stamp tax on stock trades, but does withhold ~15% on dividends – see below).
Settlement: If buying Tokyo shares, expect delivery 2 business days after trade date (T+2) . The shares will then appear in your account as a foreign holding (or as cash, if you sold). If you bought OTC, settlement is the usual U.S. T+2. After settlement, you’ll own the stock.- Finalize & Follow Regulations. Make sure all requirements and paperwork are complete. Many brokers will ask you to acknowledge the extra risks of foreign stocks (currency risk, lower liquidity). If you’re trading OTC, recall that Fidelity and Schwab allow OTC (OTCQX) trading but typically exclude pink sheet stocks – Metaplanet on OTCQX is fine. IRAs often cannot hold individual foreign stocks directly, so use a standard brokerage account . For taxes, note that Japan will withhold 15% on any dividends paid to U.S. residents (per the U.S.–Japan tax treaty) . You’ll receive a 1099 or similar from your broker for any dividends or sales, and can claim a foreign tax credit on your U.S. tax return. Other U.S. regulations (FINRA, SEC) don’t bar you from owning foreign stocks, but you should keep records of trades and currency conversions.
With these steps, you’re all set! Once your account is enabled for international trading, you can joyfully purchase Metaplanet via MTPLF or 3350.T and add this Japanese stock to your portfolio. Happy investing!
Sources: Metaplanet’s listings are confirmed on its site (TSE:3350, OTCQX:MTPLF) . Fidelity and Schwab publish that they support trading in Japan . Commission and FX fees are detailed on their support pages . Brokerage reviews note TD’s and E*TRADE’s limitations . Trade execution details come from Fidelity’s FAQs and Japan Exchange rules .