Rakuten Trade activates more than 32,500 accounts in 2 years
By Digital News Asia May 23, 2019
- Reports an increase of 170% in accounts from approximately 12,000 a year ago
- Trading value generated on Bursa rose by almost 400% from RM1 billion year on year
RAKUTEN Trade Sdn Bhd is positive about ongoing growth prospects for the company as it enters its third year with almost RM5 billion generated in trading value and more than 32,500 accounts to-date since it first opened its doors in May 2017.
Rakuten Trade, a fully digital equity broker, reported an increase of 170% in accounts from approximately 12,000 a year ago, while trading value generated on Bursa Malaysia rose by almost 400% from RM1 billion year on year.
Rakuten Trade managing director Kaoru Arai, said, “We continue to appeal to a growing segment of new investors who are more digitally savvy and have a more e-commerce lifestyle as they prefer the benefits of a completely digital platform like ours. At Rakuten Trade we endeavor to keep things simple and cost-effective in line with a fast-changing digital landscape where speed and convenience are preferred.
“Our unique fintech 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.
"Our success can also be attributed to nimbly developing new products and price sensitive services that cater to the ever-changing needs of this new segment of customers. 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."
Last year, Rakuten Trade launched its second product – Contra Account that extends a multiplier of up to 5x which is the highest in the market, and more recently rolled out Contra 2.0 which offers investors revised brokerage fees ranging from a minimum of RM7 to a fixed maximum of RM100 and a Day Trade Rebate Programme for investors who buy and sell frequently on the same counter within the same day.
According to Arai, the loyalty programme also continues to be a pull factor for traders. In addition to existing partnerships with AirAsia BIG, B Infinite, and BonusLink, Rakuten Trade has also collaborated with other digital brands such as Grab, HappyFresh Malaysia, MoneyMatch and Oxwhite.