Rakuten Trade Review
About Rakuten Trade:
Rakuten Trade is a joint venture between Malaysia’s leading investment bank Kenanga Investment Bank and Japan’s Rakuten Securities Inc.Part of Rakuten Group.
Rakuten Trade have restricted Capital Markets Services license (CMSL) authorised by SSM (Securities Commission Malaysia) which deals listed securities and to provide investment research and advice.
Rakuten Trade have been in Malaysia since 19th May 2017 with a total investment of RM30 million as the first digital equity broker and was named “Fintech company of the year 2018” by Malaysian Communication And Multimedia Commission ( MCMC).
Trading Services:
1.Easy to register a broker account.
Application only submitted online and speedy approval , if eligible within 2 hours or 1 day.Other registration need to wait at least one week or more to process.
2.Online trading completely via web or state of the art trading app.
You can try upload ispeed app from Playstore to try it out.
From putting money in your account,buy,sell,real time stock prices,researches,withdraw money etc , all in one platform.
3.Daily reports of trading ideas.
Access to Kenanga Group’s research report.
4.Transfer cash into your trading account directly via online banking.
Other platform you need to transfer into 3rd party bank account and then
inform your remisier before the money get credited into your account.
5.Perform share transfer without any charges yet you can earn 500 RT (Rakuten Trade Points).
In March 2020 , Rakuten Trade activates 11,000 new trading accounts!
Total account activation is 70,000!
Rakuten Trade Fees :
Rakuten offers the lowest brokerage fees as low as RM7 to RM100.
Many other services also provided for free.
Click here for full fees , go under “investing” tab and click “Fees”.
Rakuten Trade Points:
With Rakuten Trade , you will earn RT (Rakuten Trade Points) where it can
be converted into Airasia Big Points,B Infinity or Bonuslinks.
(You will also get RT points (500 RT Points) when you recommend someone to Rakuten trade).
Types Of Accounts:
3 types of account – Cash upfront , dual(cash&contra) and the latest RakuMargin trading.
Pros :
1.Easy to open account.100% online.(Prepare picture of ic front/back and utility bill).
2.Neat web and app trading interface.
3.Easy to top up and withdraw money from account.
4.Whatsapp/email support group.
Cons :
1.Not suitable for Muslim traders as there is no indicator which stocks is syariah or non syariah.
2.Cannot apply for ipo (initial public offering) using Rakuten Trade CDS as the CDS number belongs to Kenanga Investment Bank and not our own.(Kenanga Nominee).
Click below link to read more or open an account with Rakuten Trade :
(Earn up to 4,000 RT Points when you sign up and successfully complete your 1st trade in 10days).
