Rakuten Trade launches US share trading service

PETALING JAYA: Rakuten Trade Sdn Bhd today announced the expansion of its Cash Upfront Trading Account to include access into foreign markets beginning with the US.

This decision was based on a high volume of requests that have been received since Rakuten Trade launched its business in 2017. As one of the early disruptors in the market, Rakuten Trade continues to move nimbly through its fourth year of operations by continuing to innovate and elevate the equity broking industry in Malaysia.

Rakuten Trade CEO Kazumasa Mise (pix) said its US share trading service amplifies Rakuten Trade’s value propositions and unlocks more value through digital efficiencies.

“With this enhancement, our clients will now have access to trade stocks like Apple and Tesla, as well as exchange traded funds (ETF) that are listed on the New York Stock Exchange and Nasdaq, in addition to over 1,000 stocks on Bursa Malaysia. Both domestic and foreign equities will be offered on a single dashboard at the same low brokerage for a seamless fully digital trading experience.”

Designed for the digitally savvy individuals who are keen to execute self-directed trades, Rakuten Trade’s Cash Upfront account offers retail investors the following for trading on both Bursa Malaysia and US markets:

> Low brokerage (RM7 to RM100)

> Competitive exchange rates that are better than most banks

> An all-in-one Cash Upfront dashboard for clients to execute their own stock trades

> One trading limit for all markets

> Access to research reports from three sources: inhouse Research team, Rakuten Securities, Inc (Research), and Motley Fools

> Quick account activation of less than one hour for trading in Malaysia and within three days to enable US trading

> Eligibility to earn RT points

> No charges for corporate action handling

Malaysians and foreign nationals with a Malaysian bank account are eligible to apply for a Cash Upfront Account for trading in both local and foreign markets. Upon successful activation of a Cash Upfront Account, the client needs to opt in to enable the Foreign Market service.

“We are a business that evolves in tandem with what the clients want and need. With the rollout of the foreign market trading service, we are ensuring a more consistent growth in new retail investors year-on-year,” Mise added.

Rakuten Trade has remained profitable since April 2020 thanks to its clients, many of whom are beginner investors.

As at Dec 31, 2021, it had activated more than 236,000 trading accounts and handled more than RM95 billion in total trading value on Bursa Malaysia since business day one. As of Dec 31, 2021, Rakuten Trade’s retail market share was more than 7% while clients’ assets under trust was more than RM3.7 billion.

“We aim to continue democratising equity trading by improving the digital trading experience with a client first mindset. In 2020 alone, our rewards ecosystem welcomed Boost as a new lifestyle rewards’ partner and expanded the RT Points redemption matrix to include brokerage fees. With our strengthened digital capabilities that elevates the customer experience, coupled with our fully licensed research division, Rakuten Trade will continue to raise standards and evolve in the years ahead.”