Rakuten Trade upbeat on Contra 2.0 trading platform
KUALA LUMPUR: Rakuten Trade Sdn Bhd is confident of attracting more clients to its contra trading platform.
The company expects the recently-launched Contra 2.0 to enhance investors’ trading experience.
Managing director Kaoru Arai said Rakuten Trade, which started operations in mid-2017, had about 27,000 accounts, of which more than 10 per cent were contra accounts that contributed 27 per cent to the company’s monthly earnings.
He said the contra trading platform had received much interest from traders below 40 years old, who made up 80 per cent of its existing clients.
“The Contra 2.0 enhancement was made based on feedback from clients. Hence, we believe it would be well-received and will help us increase the client base,” he said, here, yesterday.
Arai said the company’s clients had recorded a total of more than RM3.5 billion in trading value on Bursa Malaysia — a great feat for a start-up of less than two years and a testament to its financial technology business model.
He claimed that the Rakuten Trade contra platform had again disrupted the market as it offered a higher multiplier facility of five times compared with other brokers, where investors were extended a spending limit based on paid shares and cash placed as collateral.
“Rakuten Trade hopes to attract more clients with the platform in the near future as it has a lower entry barrier compared with its peers by allowing customers to register their account within two hours, plus offering the lowest brokerage fees,” he said.
He said the Contra 2.0 platform offered a reduction in brokerage fees ranging from a minimum of RM7 to a fixed RM100, mirroring the cash upfront facility.