Rakuten chalks up RM1 bln trade in first year of operation
KOTA KINABALU: Rakuten Trade Sdn Bhd now has some 15,000 clients, about 40 percent of whom are first-timers to the equity broking market in Malaysia.
According to Rakuten Trade managing director Kaoru Arai, Rakuten Trade has also generated over RM1 billion in trading value on Bursa Malaysia in its first year, a feat for the start-up and a clear testament to its first-in-market FinTech business model.
Speaking to press members to introduce the company’s second innovative product, Contra Trading, which complements Rakuten Trade’s existing Cash Upfront facility, Kaoru also said the new product had also garnered significant interest, especially among traders below 40 years old with trading experience of less than three years.
“Our quantum jump in the industry demonstrates that the digitally inclined investors in Malaysia are ripe for a fresh trading experience. More than 70 percent of our clients are below the age of 40 and most of them are active traders. In true Rakuten style, we are enhancing the trading experience for our investors by providing a platform that is different and more advantageous than what is currently being offered. Trading on the Malaysian equity market has never been more seamless and more efficient,” he said.
Contra Trading offers digital savvy investors a trading limit of three or five times the value of cash and / or collateralized shares.
Kaoru also said the company’s growth was also due to the support received from Kenanga Investment Bank Berhad, Rakuten Securities Inc., local regulators, business partners and Rakuten Trade employees.
Rakuten Trade also attributes its client appeal on its Rewards Eco System, the first of its kind in Malaysia, that offers access to three of the country’s biggest loyalty points providers -- AirAsia BIG, B Infinite (part of Berjaya Group) and BonusLink under one platform.