Buying Apple or Amazon shares is no longer cumbersome or complicated, if you have the appetite for such stocks, the Rakuten Trade’s new announcement will definitely tickle your fancy.
The online trading platform Cash Upfront Trading Account will now include access into foreign markets beginning with the US. According to the company, the decision was made after it received a high volume of requests for such a facility since its launch.
Rakuten Trade’s Chief Executive Officer Mr Kazumasa Mise said “Our 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:
- 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.
Rakuten Trade has remained profitable since April 2020, as of end December 2021, it had activated more than 236,000 trading accounts and handled more than RM95 billion in total trading value on Bursa Malaysia. Its retail market share was more than 7% while clients’ assets under trust were more than RM3.7 billion.
