Rakuten Trade upbeat about prospects
KUALA LUMPUR: Rakuten Trade Sdn Bhd is positive about its prospects as it enters its third year with almost RM5 billion generated in trading value and more than 32,500 accounts since it started operations in May 2017.
The country’s only fully-digital equity broker reported an increase of 170 per cent in number of accounts from 12,000 a year ago, while trading value generated on Bursa Malaysia rose by almost 400 per cent from RM1 billion year-on-year.
Managing director Kaoru Arai said Rakuten Trade continued to appeal to a growing segment of new investors who were digitally savvy.
“We endeavour to keep things simple and cost-effective, in line with a fast-changing digital landscape where speed and convenience are preferred.
“Our unique financial technology business model also enables us to maintain the lowest brokerage fees in the country for both our products, Cash Upfront and Contra Accounts, despite being in a highly competitive industry,” he said in a statement yesterday.
Arai said its success could also be attributed to new products and price-sensitive services.
“This adaptability is a key trait that sets Rakuten Trade apart, along with our supportive customers who remain the driving factor of our continued growth in Malaysia,” he added.
Rakuten Trade recently rolled out Contra 2.0, which offers investors revised brokerage fees ranging from RM7 to RM100 and a Day Trade Rebate Programme for investors who buy and sell frequently on the same counter within the same day.