Rakuten Trade Malaysia Review: Why I Chose This Platform

Curious about investing but not sure where to start in Malaysia? Ever heard of Rakuten Trade?

If you’re just beginning your investment journey and feeling overwhelmed by complex platforms or high fees, you’re not alone. I’ve been there too—searching for something that’s simple, affordable, and trustworthy.

That’s exactly what led me to Rakuten Trade Malaysia, a digital stock trading platform designed with beginners in mind. From low fees and fractional shares to a user-friendly app, it’s made my start in investing feel a lot less intimidating.

In this Rakuten Trade Malaysia Review, we’ll be going over:

• What exactly is Rakuten Trade Malaysia and how does it work for Malaysians?
• Why I personally chose Rakuten Trade Malaysia over other brokers (and what the fees really look like).
• Who Rakuten Trade Malaysia is best suited for, and what to know before signing up.

Let’s dive in.

What is Rakuten Trade Malaysia?

Rakuten Trade Malaysia is an online stock trading platform that allows Malaysians to invest in stocks and ETFs (Exchange-Traded Funds) using a mobile app or website.

With Rakuten Trade, you can invest in:

• Malaysian stocks listed on Bursa Malaysia
• U.S. stocks and ETFs (like the S&P 500)
• Hong Kong stocks

Rakuten Trade is a joint venture between Rakuten Securities (Japan) and Kenanga Investment Bank (Malaysia). It is also licensed and regulated by the Securities Commission Malaysia, which means it is a legitimate and regulated platform for investors in Malaysia.

Rakuten Trade was launched in 2017 with one main goal: To make investing easier and more affordable for everyday Malaysians.

Unlike traditional stock brokers that feel intimidating or expensive, Rakuten Trade is fully digital and designed to be beginner-friendly. You can open an account online, start with a small amount, and invest at your own pace.

Key Features of Rakuten Trade Malaysia

• Transparent Fee Structure – No inactivity fees or hidden charges; you only pay brokerage fees when you trade.
• Access to Global Markets – Invest in Malaysia, U.S., and Hong Kong stocks from one account.
• Fractional U.S. Shares – Start investing in U.S. stocks and ETFs with small amounts.
• Cash Upfront Account – No margin or leverage; invest only with money you have.
• Simple, Minimalist Platform – No flashy UI or constant alerts, helping reduce emotional trading.
• Regulated in Malaysia – Licensed by the Securities Commission Malaysia and backed by Kenanga Investment Bank.

How Does Rakuten Trade Work?

If you’ve never invested before, here’s a step-by-step guide on how Rakuten Trade Malaysia works.

Step 1: Open a Rakuten Trade Cash Upfront Account

To use Rakuten Trade Malaysia, you’ll need to open a Cash Upfront Account. This simply means you can only invest with money you already have. No borrowing, no margin, no debt.

This is actually a good thing for beginners.

What you need to prepare are your NRIC or passport (front and back) and a phone bill or utility bill (for address verification).

How to open the account:

1. Go to www.rakutentrade.my or download the iSPEED.my app
2. Tap Login → Online Account Opening
3. Select Cash Upfront Account
4. Fill in:
   • Personal details
   • Financial information
   • Investment profile (basic questions)
5. Submit your application
6. Check your email for account activation instructions

⏱ How long does approval take?

In my experience, approval usually takes within 1 working day, sometimes even faster if documents are clear.

Step 2: Enable Foreign Market Access (U.S. & Hong Kong)

If you want to invest in U.S. stocks, U.S. ETFs, or Hong Kong stocks, you’ll need to enable Foreign Market Trading. This is a one-time process.

How to enable foreign market access:

1. Log in to your Rakuten Trade account
2. Click on Foreign Market
3. Complete the additional verification details
4. Enter your trading PIN and submit

⏱ Processing time:

Foreign market access usually takes 2–3 working days to be approved. Once approved, you can start investing in U.S. and Hong Kong markets directly from Malaysia.

Step 3: Put Money Into Your Rakuten Trade Account

After your account is active, you’ll need to transfer money from your bank account into Rakuten Trade.

You can fund your account in MYR for Malaysian stocks. After funding, you can exchange your MYR into foreign currencies within the Rakuten Trade app itself to invest in U.S. and Hong Kong stocks.

Step 4: Choose What You Want to Invest In

Inside the Rakuten Trade app or website, you can choose to invest in Malaysian stocks, U.S. stocks, ETFs (like the S&P 500) and Hong Kong stocks.

If a stock is expensive, Rakuten Trade allows fractional shares, which means you can buy a small piece instead of the full share.

This is one of the reasons Rakuten Trade Malaysia is so beginner-friendly.

Read more: 3 Easy Ways to Invest in S&P500 as a Malaysian

What You Can Invest in on Rakuten Trade Malaysia

Rakuten Trade Malaysia offers a simple range of investments that are more than enough for beginners. Here’s what you can invest in on Rakuten Trade Malaysia: 

• Malaysian stocks, REITs, ETFs, etc. (Bursa Malaysia)
• U.S. stocks, REITs, ETFs, etc. (NYSE and NASDAQ)
• Hong Kong stocks (HKEX)

What You Cannot Invest in on Rakuten Trade

You cannot invest in:

• Cryptocurrency
• Robo-advisor or auto-invest portfolios
• Copy trading or social trading

Read more: How to Invest in Cryptocurrency in Malaysia for Beginners

Why I Chose Rakuten Trade Malaysia

There are many investment platforms in Malaysia, but Rakuten Trade stood out to me for 5 reasons.

1. Fractional U.S. Shares

Some U.S. stocks and ETFs are expensive. Without fractional shares, you’d need thousands of ringgit just to buy one unit. Rakuten Trade Malaysia solves this by allowing you to buy fractional U.S. shares.

This means:

• You can start investing with small amounts
• You don’t need to wait years to “save enough”
• You can invest consistently, even when prices are high

For me, this made long-term investing feel possible with lower initial capital.

2. Simple and Minimalist Platform

Rakuten Trade’s app looks like it was built in the early 2000s when compared to platforms like Moomoo Malaysia.

But personally, I see this as a good thing. The simple design helps me feel less gamified with my investments and only use the app for its intended purpose, which is to focus on long-term investments.

When an app doesn’t constantly push alerts or colourful charts, it’s easier to stick to a boring, consistent strategy — and boring is often what works best in investing.

Read more: Investing with Moomoo Malaysia as a New Investor

3. Easy to Fund Account

Unlike platforms such as Interactive Brokers, I don’t need to use third-party services like Wise to convert MYR into foreign currency.

Rakuten Trade allows me to convert MYR to USD or HKD directly within the app, which saves time and reduces friction when investing in foreign markets.

4.  Regulated and Backed by Trusted Institutions

Rakuten Trade Malaysia is:

• Licensed by the Securities Commission Malaysia
• Backed by Kenanga Investment Bank
• Part of Rakuten Group, a well-known global brand

Knowing this gave me peace of mind that my investments were held with a legitimate and regulated platform.

I’ve also contacted their customer service a few times, and my experience has been professional and responsive, which matters more than flashy features.

5.  Rakuten Trade Rewards (A Nice Bonus)

Rakuten Trade offers a rewards system where every trade earns Rakuten Trade points, where points can be used to offset brokerage fees and also be redeemed for lifestyle rewards.

While rewards were not the main reason I chose Rakuten Trade, I do enjoy using the points to reduce my trading costs over time.

My Results After 2 Years Using Rakuten Trade Malaysia

After using Rakuten Trade Malaysia for over 2 years, my experience has been consistent, stable, and aligned with my long-term investing goals, since I consistently invest in U.S. ETF VOO. 

While this is not a “get rich quick” story, it reflects what many beginners should realistically expect when investing through a traditional brokerage.

1. Portfolio Performance

My returns largely mirror the performance of the U.S. market I invested in. Since Rakuten Trade is a brokerage (not a robo-advisor) results depend entirely on:

• What you invest in
• How long you stay invested
• How disciplined you are during market volatility

I mainly use Rakuten Trade for buy-and-hold investing, especially U.S. ETF VOO, rather than frequent trading.

2. Fees can be a little Confusing

I’ll admit that Rakuten Trade’s fee structure has changed a few times since I first started using the platform.

While fees do matter, I personally prioritise convenience and ease of use, especially since I don’t trade frequently. For long-term investors, small fee differences matter less than consistency and behaviour.

You can always check the latest fee structure directly on Rakuten Trade’s official website here!

3. Better Investing Behaviour

Rakuten Trade’s non-gamified interface reduced my urge to overtrade, made me check prices less often, and helped me stick to a boring, long-term strategy.

After two years, I genuinely believe this “boring” setup protected me from emotional investing mistakes.

4. Reliability and Platform Stability

Over the past two years, trades executed reliably, withdrawals worked as expected and customer service responses were professional when needed.

I didn’t experience major outages or issues that disrupted my investing process.

Final Verdict After 2 Years

After two years of using Rakuten Trade Malaysia, I see it as:

• A solid, no-frills brokerage
• Best suited for beginners and long-term investors
• Not ideal for people who want flashy tools

⚠️ Disclaimer: This reflects my personal experience and is not financial advice. Investment returns depend on market conditions and individual decisions.

Conclusion: Is Rakuten Trade Malaysia Worth It?

Rakuten Trade Malaysia offers a simple and low-cost way for beginners to start investing in the stock market, with access to Malaysian, U.S., and Hong Kong stocks all in one platform. Features like access to global markets, fractional U.S. shares, and a cash upfront account make it easier for new investors to start investing instead of waiting for “saving enough money first”.

By keeping its platform minimalist and avoiding overly gamified features, Rakuten Trade encourages long-term, disciplined investing rather than frequent trading. Being licensed by the Securities Commission Malaysia and backed by Kenanga Investment Bank also adds an important layer of trust and security.

That said, Rakuten Trade may not appeal to investors looking for advanced research tools, a modern-looking app, or automated investing features. As with all investments, market fluctuations are unavoidable, and returns are never guaranteed.

Overall, if you’re a beginner or a long-term investor who values simplicity, low fees, and regulated access to global markets, Rakuten Trade Malaysia is worth considering.