Rakuten Trade review 2023
Investing options: 2.6
Platforms & usability: 2.3
Products, markets, & assets: 2.4
Safety & reliability: 3.4
Deposits & withdrawals: 2.7
Research & analysis tools: 3.2
Fees & costs: 3.1
Education & learning resources: 2.8
Rakuten Trade review Summary
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Rakuten Trade is a simple, straightforward discount brokerage but it is also single-minded. With just one stock market available to trade on, it might not offer the sort of breadth most traders are looking for. Read on to learn more about the platform and decide whether or not to sign up.
What can I do with Rakuten Trade?
With Rakuten Trade you can trade any stocks that are available on the Bursa Malaysia stock exchange. It offers some of the lowest fixed fees of any broker and there are accounts available that let you trade with up to 1:20 leverage.
Rakuten Trade is a relatively new brokerage, having only set up shop in 2017. It’s won awards as a leading fintech platform in Malaysia and you can trade through its online platform or by using a mobile app.
Rakuten Trade markets, assets, and options
What assets and products can you trade on Rakuten Trade?
Rakuten Trade enables you to trade any publicly listed company or instrument on the Bursa Malaysia stock exchange, this includes over 900 stocks and just under 20 ETFs.
What leverage trading options are there?
Rakuten Trade offers up to 1:20 leverage with a RakuMargin account. You can also gain access to a pre-approved facility with a limit of up to RM100,000 based on your cash collateral and share value of your portfolio.
Please remember that trading with leverage carries additional risk and should only be done after you have gained some trading experience.
|Product (CFDs)||Maximum leverage||Margin|
What are the spreads?
Rakuten Trade charges fixed fees on every trade instead of spreads, which start at RM7.00 per transaction for trades below RM1,000.00 and go up from there. You must also pay a clearing fee of 0.03% on your transaction value (up to a maximum of RM1,000).
Fees, limits, and payment options on Rakuten Trade
What are the deposit and withdrawal fees, limits, and speeds?
Rakuten Trade enables debit/credit card, bank transfers, and even cheque deposits with no minimum deposit amount in order to get started trading.
1-2 business days
2-3 business days
Bank charges applicable
2-3 business days
Bank charges applicable
3-4 business days
1-2 business days
How much are Rakuten Trade’s fees and commissions?
Rakuten Trade’s fixed fees range from RM7.00 per transaction for trades below RM1,000.00 to start, all the way up to RM130.00 per transaction for trades above RM100,000.00 in value.
There are also various other small fees, which can add up, such as a clearing fee of 0.03% per transaction and a services tax that amounts to 6% of brokerage fees.
|Fee type||Fee amount||Commission|
|Stocks||Starts at RM7.00 to RM130.00||None|
|ETFs||Starts at RM7.00 to RM130.00||None|
|Warrants||Starts at RM7.00 to RM130.00||None|
|Clearing Fee||0.03% per transaction||None|
|Services Tax||6% of brokerage fees||None|
Rakuten Trade trade sizes and limits
Rakuten Trade lets you trade as little as 1 share in an odd lot trade, whereas the maximum number of shares you can trade in a normal lot trade is up to 500,000 shares per transaction.
|Product||Minimum trade||Maximum trade|
|Stocks||1 share||500,000 shares|
|ETFs||1 unit||500,000 units|
|Warrants||1 warrant||500,000 warrants|
Rakuten Trade trading platform
What devices can I use Rakuten Trade on?
Rakuten Trade’s proprietary trading platform is available either online or via a mobile version available for both iOS and Android mobile devices.
- Web browser
- iOS mobile device
- Android mobile device
Can I use Rakuten Trade in my country?
Rakuten Trade is available worldwide, including in the United States as per its Terms and Conditions, Australia, Japan, and Malaysia. Select your country from the list below to see if it is available where you are.
Is Rakuten Trade available in my language?
Rakuten Trade is currently available in only two languages: English and Malayian.
How easy is it to use Rakuten Trade?
Rakuten Trade’s account registration process is streamlined, all you have to do is fill in some personal details, upload your ID documentation like a ID card, bank statement or utility bill and your account will be ready.
You can choose between a cash upfront account and a margin account. Once logged into your trading dashboard, it’s easy to top up your account with a cash deposit, find the security you want to trade using the search box at the top, and complete your trade using your trading pin and the “confirm order” button.
Rakuten Trade offers plenty of features and rewards, here are some of the top ones:
Rakuten Trade Points
Automatically receive RT points whenever you trade and convert these points into real prizes, such as fee rebates and share transfers.
See your portfolio holdings by ticker symbol with a profit/loss balance for each open position, commissions paid for the trade, and a chart of how the holding has performed since your purchase. This top-down view lets you easily keep track of your trading activities.
This service enables you to observe and copy trades put on by professionals or successful peers, giving you greater visibility and awareness of trade setups and strategies.
Security and regulation
Is Rakuten Trade safe?
Rakuten Trade only provides a one-step login. A two-step authentication option would be more secure. However, all trades are encrypted with 128-bit encryption to protect all data and each client receives a unique trading code that must be input prior to trading.
Am I and my funds protected?
All deposits placed with Rakuten Trade are not insured under the Malaysian Deposit Insurance System or Perbadanan Insurans Deposit Malaysia (PIDM). Similarly, the broker is not self-insured, so your funds are not guaranteed in any way.
Is Rakuten Trade regulated?
Yes, Rakuten Trade is regulated by the Securities Commission Malaysia (SCM) and holds the restricted Capital Markets Services Licence (CMSL), which enables the broker to deal with listed securities and at the same time provide investment advice.
Do I have to verify my account with Rakuten Trade?
Yes, Rakuten Trade adheres to Anti-Money Laundering provisions. As such, you will have to provide the broker with relevant information and personal documentation proving your identity, residential address, and that your bank account is your own, before starting to trade.
Rakuten Trade offers a full fledged research section, with investment idea videos, research and market reports, as well as a series of proprietary videos explaining the art and craft of trading.
There is also a separate education section, with educational articles on portfolio construction and diversification and the market in general.
Tools and charting
Rakuten Trade provides traders with technical analysis tools, indicators, a news feed, and customisable charts. But these do need to be updated, as they are similar to what other brokers offered years ago.
The jewel in Rakuten Trade’s crown is its original investment ideas provided by an in-house research team, which is more than you will find with other similar brokers.
Rakuten Trade offers a client hotline that you can call with your inquiries Monday-Friday, a customer support email, and a live chat feature on their website, which operates 24/5 as well.
Some online reviewers have commented that the client hotline and live chat can be slow in responding.
Rakuten Trade offers access only to the Bursa Malaysia stock exchange and gives you the choice of opening either a regular trading account or a margin account with maximum leverage of up to 1:20.
Account opening and verification is streamlined, with most accounts up within 72 working hours. After which time you can top up your account via online instant bank transfer (Malaysia only) and have access to real time market price feeds and up to the second news. Its trading platform is stable and secure, but the interface is somewhat outdated in style and presentation.
Rakuten Trade offers original investment research from its in-house team as part of its educational materials. Overall, it is a good, regulated broker within its very narrow focus. If access to the Malaysian market is what you’re looking for, it might be the right choice for you.
How to open an account with Rakuten Trade
- Choose your preferred account type
- Add your personal details, like your email address and password
- Complete a survey about your trading experience
- Select your leverage level and the base currency of your account
- Verify your identity and residency by uploading a copy of your primary photo ID, and a secondary piece of ID, such as a bank statement or utility bill with your residential address and name on it.
- Fund your account and start trading!
Rakuten Trade is owned by Rakuten Securities, which is the global financial services division of the multinational e-commerce giant Rakuten.
Rakuten Trade makes money by charging fixed fees on every trade, but like a traditional broker. These start at RM7.00 per transaction for trades below RM1,000.00 and go up from there.
Depending on your country of residence, you may be required to pay taxes on any profits you make after a certain amount. We suggest checking with your local legislation to see the limits and the exact regulation.
No, Rakuten Trade is an online discount broker offering direct access to equities, ETFs, and other securities listed on the Bursa Malaysia stock exchange.
There are a couple of ways to sell with Rakuten Trade. For example, you can opt for one-click trading (agree to the Terms and Conditions of the One-Click trading) or if you are trading online as opposed to on your mobile, you can choose the security you want to sell and the quantity and click on the “Sell” button.
To close your account, simply send the customer support team a written instruction via email and they will process your request immediately.
You can short on Rakuten Trade by selling any asset you hold that you believe will fall in value. If this drop in price materialises, you can buy back the asset at the new lower price, pocketing the profit.
Go to Login and click on the “Forgot password” button. Enter the email address you used to register to Rakuten Trade and a new password will be sent to that address.
No, PayPal is not currently listed as a payment method with Rakuten Trade.
If Rakuten Trade shuts down unexpectedly, any order will remain pending until you can log into your account again and complete it. rnrn rnrnIn the event that Rakuten Trade ceases operations altogether, your funds are not guaranteed in any way as all deposits placed with Rakuten Trade are not insured under the Malaysian Deposit Insurance System or Perbadanan Insurans Deposit Malaysia (PIDM).
Yes, simply log into your trading dashboard and choose the “Account history” tab at the bottom, then right-click within to choose custom dates and even save the data to your computer.
No, you can only deposit funds in fiat currency at this time.
Yes, Rakuten Trade enables you to earn points every time you interact with the platform. These points are then convertible into real life prizes, such as trading fee rebates and more.
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