Rakuten Securities and Kenanga Investment Bank introduce new low-cost first full-fledged online equity broker Rakuten Trade Malaysia.
Updated: April 4, 2023
Contents
Brokerage Background
Kenanga Investment Bank Bhd. and Rakuten Securities Inc. JV was signed in April 2017 and is their first equities business outside Japan.
Rakuten Securities is a subsidiary of Rakuten Inc. and is one the largest retail brokerages in Japan. Rakuten Securities was founded in 1999 and is a successful, albeit purely online, broker.
Kenanga Investment Bank is a financial group in Malaysia founded in 1973 with extensive experience in equity broking, investment banking, listed derivatives, treasury, corporate advisory, Islamic banking, wealth management, and investment management.
Rakuten Trade Sdn. Bhd. aims to capture 20%-30% retail investors’ market share and be profitable within the next three years.
Trading Fees
(Source: rakutentrade.my)
Other Fees
- Clearing Fee: 0.03% up to a maximum of RM1,000 per contract + 6% GST
- Stamp Duty: RM1 for every RM1,000 in trading value (maximum RM200 per contract)
- CDS Fee: Account Opening RM10.60 per CDS
- Transfer of Securities: RM10.60 per counter
Features
- Fast online account opening process with approval within 2 hours (after 4pm, will be next day).
Required documents:
1. NRIC (front and back) or passport.
2. Bank account statement (local bank and non-joint account).
3. Proof of corresponding address (e.g. utility bill or telco bill) if different from permanent address.
4. Credit/Debit Card for CDS fee payment. - During the initial period, only an upfront cash account is available (margin accounts to be introduced later).
- Trading platforms: Web trading (MarketSpeed) and app/smartphone trading for iPhone and Android (iSpeed.my).
- Real time price, news, volume, and match trade alerts.
- Mark-to-market portfolio and real-time order book.
- Personalized multiple screens layout and watch list.
- Day Order and Good-Till-Date Order (GTD).
- Customizable charts including different time frames & technical indicators.
- Research reports and webinars.
- Funding via online cash transfer (up to RM30,000) or offline/above the counter.
- No fees/charges for receiving dividends and corporate actions.
- Interest of 2.25% p.a. on daily rest on your available cash balance credited monthly.
- Reward program to collect 1 RT point for every RM1 brokerage fees from loyalty cards/programs with AirAsia BIG, B Infinite (B Card), and BonusLink.
- Points expire in 3 years.
- Account opening: 1,000 RT points.
- Promotional transfer shares into Rakuten Trade will earn 100 RT points per counter.
Rakuten Mobile Trading Platform/App Review
Rakuten’s mobile trading platform is known as iSpeed.my.
Pros:
- Biometric login & username/password saving
- Multiple WatchLists (Up to 10 pages with 100 items each)
- Charts: 5-mins, Daily, Weekly & Monthly
- GTD feature of up to 30 days
- Board & Odd Lots
- Market / Limit Order
- Bracket Trading allowing buy/sell orders at the same time at different prices
Cons:
- Market news limited filtering options thus may not be useful / info overload
- Limited information displayed when viewing your Holding Stocks
- Cash deposit, research report, etc access still requires you to login to Rakuten website
Overall:
We like Rakuten’s mobile app’s chart display options but has room for improvement in terms of layout/info display and for everything to be able to do be done on the app (without additional website login).
App Screenshots
Account Opening and Info
Account opening link: RakutenTrade.my
Referral code: MYPF
Account Opening Documents
- NRIC/passport image (front & back)
- Bank statement image (Individual/joint bank statement from a local bank)
- Utility / phone bill as proof of address if different from permanent address
- Individual debit/credit card for CDS account payment fee (not a company or 3rd party account)
Rakuten Shares Transfer
Shares transfer can be done online.
My Portfolio > Transfer Shares.
You will be charged a CDS transfer fee of RM 10.60 (inclusive of 6% GST) per share regardless of quantity.
Transfer can be done to own account, spouse or parents.
Contact Details
- customerservice@rakutentrade.my
- Tel: toll free 1-800-88-6001
FAQ
Q: My Debit/Credit Card transaction on Rakuten keeps failing to go through for account opening fees payment.
A: If it’s not going through multiple times, check with your card issuer bank or Rakuten. You may need to inform your bank to authorise your card for online transactions.
Q: How can I get my monthly statement?
Login Rakuten Website > My Account > My Statement > Monthly Trade Statement
Q: Help! I can’t find the Rakuten account registration link.
A: It’s slightly hidden with the many things on the Rakuten website.
- Scroll through the banners on the top and click on Register or;
- Click on account Opening on the top right or;
- Follow this link.
Q: Is there a minimum account cash balance to keep?
A: No minimum account cash balance requirements.
Q: I forgot my password or pin.
A: Go to the Rakuten site to reset your password or pin.
Q: Where can I locate my CDS account number?
A: Your CDS account account number is available on the Rakuten website after you login. Or you can request from CustomerService@RakutenTrade.my.
More Info
Hi,
Thanks for informing abt such a convenient site! Do you know if they offer access to US ETF funds/index funds? Due to the investment books I’ve been reading, I keep thinking that index funds are much better than individual stocks, but too bad Malaysia has very few index funds. And are you using Rakuten or another broker, and if so, which broker?
Halifax brokerage info & account opening: https://mypf.my/members/services/halifax/
Note: Access to the link requires a free MyPF basic membership
I see. The Halifax minimum requirement of USD$2,000 is above what I can put in at the moment, so I will go with Rakuten first. Thanks for the info!
How is foreign trading even profitable for small amounts like USD1k or 2k? the brokerage itself will be a crazy percentage of the actual sum invested. Then you have to take into account the exchange rate, and with-holding taxes.. IME when a country does well that country’s currency appreciates about as much as the index.
So in the end, the foreign market goes up and you make money, but then the currency appreciates, so even though you may make money on paper, after accounting for currency appreciation and with-holding taxes, you might actually be making a loss.
If I deposit cash via online cash transfer, would I be able to trade immediately? Or do I have to wait till the next trading day before I can trade?
Hi Admin,
How’s it when comparing Rakuten mobile trading platform vs other broking houses? By considering to check through shares and execute trades in normal work days, user-friendliness and features of mobile platform stands significantly important!
What is the minimum balance that i can have in my account if i trade.
Example i deposited rm5k into the rakuten account, then i would like to buy 2400units of rm2.5shares, is it possible?
Very slow on processing dividend paid by the share company. More than 5 days still not yet receive the dividend.
Hi Admin,
Is there anyway to transfer my shares held with another brokerage account to rakuten account without selling all of them and buying the shares again in the rakuten account as this will cost a lot of fees?
Meaning for example if I have 10 different stocks each stock transfer will be charged RM10.60?
Hello!
It might sound like a silly question.. is the dividend payout automatically credited into the trading account? Do I get any notification when it does?
Hi there, I am a newbie and have been trading quite alot with rakuten recently.
I understand then whenever I trade, there will be charges for the transaction as mentioned above.
However, after trading for a while, I have put in RM11k, I realized that my cash only has around 9.8k; while the shares are only valued at 8k.
I wonder is it possible to trace back the money on where did it went as well as knowing what does the * Interest is calculated every end of the day actually means?
Hope to hear from you soon.
Thanks.
Daily Interest
Interest will be calculated based on the previous day’s outstanding balance. The advantage for daily interest is that you will start receiving interest immediately when your cash position increases.
How do I withdraw funds from Rakuten cash up front account after selling off my shares? Can I request for the funds to be credited to any bank account? For example, bank account other than what has been registered during account opening under 3rd party name?
So the withdrawal can be done online or via the ispeed app without having to send in request by fax or email right?
Hi! Thanks for this very informative post!
Just have a question if it is safe to park my fund in Rakuten since it has quite big 2.5% interest rate compared to the average 2% interest rate of banks?
Any thoughts on this?
Hi Is there any fee charged for selling. Recently I sell a stock 10000 unit at 0.440 however it shows the estimated cost is RM 4385.00 why is this so?
What is the interest earn on my dashboard…
1. interest earned is based on what amount?
2. When does the interest given to us (monthly, yearly)…. and the interest amount is credited to our withdraw amount?
3. Any t&c for the interest earned?
4. What is the maximum interest rate will we get
How come i can not view my CDS number in Bursa Apps? Apparently Rakutan CDS number is shorter than normal broker house. Pls advice
Hi, does Rakuten Trade has share transfer facility to other other CDS (different broker)? If it does, kind email me the guideline. Thank you.
Where can i get the ADA code and ADA branch code?
Greetings,
May I know how to withdraw delisted securities via RakutenTrade? Thank you
One newbie question….for Rakuten Share transfer from Cash account to Margin account…It will reflect number of shares maintained in Cash to Margin right?
For example…1000 units in cash account would transfer straight to Margin account holding stocks…Am I right?…Never tried this before…
Rakuten Shares Transfer
Shares transfer can be done online.
My Portfolio > Transfer Shares.
You will be charged a CDS transfer fee of RM 10.60 (inclusive of 6% GST) per share regardless of quantity.
Transfer can be done to own account, spouse or parents.
hi
unable to get my 15 digit cds number.
can you please help.
073-001- XXXXXXXXX (your CDS number stated in the platform right below ‘Cash Upfront/Contra’ on top left corner) is not recognized.