Rakuten Trade sees vigorous response with close to RM40 million in trading value on the New York Stock Exchange (NYSE) and the National Association of Securities Dealers (NASDAQ) in its first month of service, fresh on the heels of its foreign equity trading launch into the U.S.
“More than 16,000 U.S. accounts have been activated with more than 88% trading first on Bursa Malaysia prior to trading U.S. stocks. This reflects a growing acceptance by Malaysian investors to have a balanced yet diversified investment portfolio of stocks not just by sector but by market,” Mr Kazumasa Mise, the CEO of Rakuten Trade commented.
Rakuten Trade’s U.S. trading account is available via its Cash Upfront Account and offers trading in both Malaysia and the U.S. at the low brokerage of RM7 to RM100 (estimated USD 1.70 to USD 23.90) at a competitive exchange rates. The online trade platform also offers free access to real-time stock prices, and access to research reports from their inhouse Research team, Rakuten Securities, Inc. (Research), and Motley Fool.
“The equity trading landscape is changing with a surge in retail investors in recent years supported by digitalisation granting greater access to foreign markets. More Malaysians with an aptitude for self-directed trading can take the next step towards becoming “global investors” without high transaction fees and obstacles that were more prevalent even five years ago,” he added.
RakuTrade & Win contest was just launched and will run from March 7 until May 28 2022. Participants will be in the running to win in the grand finale where a total of 1,000 prizes await, of which 111 will comprise U.S. stocks from Alphabet, Tesla, Meta (Facebook), Advance Micro Device and Vanguard S&P 500 ETF. The campaign is open to those with an activated foreign trading service via the Cash Upfront Account.
