Starting my investing journey in Malaysia, I spent a lot of time searching for a platform that was beginner-friendly, affordable, and trustworthy. 

In this review, I’ll share why I chose Rakuten Trade Malaysia, what my experience has been like so far, and who I think would benefit most from this platform. 

Whether you’re new to investing or just looking for a simple, accessible option, I hope my insights can help you decide if Rakuten Trade is right for you!

Rakuten Trade is a fully digital brokerage platform that allows Malaysians to trade stocks and ETFs (Exchange-Traded Funds) listed on Bursa Malaysia, Hong Kong stock market and the U.S. stock market. 

It’s a joint venture between Rakuten Securities, Inc., one of Japan’s largest online brokers, and Kenanga Investment Bank, a well-established Malaysian financial services provider. 

Since its launch in 2017, Rakuten Trade has been known for making investing more accessible to everyday Malaysians through low fees, fractional trading, and a user-friendly, app-based platform that is licensed by the Securities Commission of Malaysia.

Why I Chose Rakuten Trade

I wanted something that was not only accessible but also aligned with my budget and investing goals. 

After researching several options, Rakuten Trade stood out for a few key reasons that made it the right fit for me.

1. Affordable and Transparent Fees

One of the biggest factors for me was the cost. Rakuten Trade’s fee structure is simple and affordable, especially compared to traditional brokers. 

Trading on Bursa (Malaysia) – In MYR

All trades on Bursa are conducted in Ringgit Malaysia (RM), with a tiered brokerage fee structure:

• Below RM699.99: 1% of the trading value (minimum RM1).
• Between RM700.00 and RM9,999.99: RM9 flat fee.
• Between RM10,000.00 and RM99,999.99: 0.1% of the trading value.
• Equal to or Above RM100,000.00: RM100 flat fee.

Note: Bursa trades above RM1 million incur an additional 0.01% levy fee.

Here’s a summary of the fees and charges you would encounter on Rakuten Trade if you invested RM500, RM1,000, and RM10,000, assuming you are trading on Bursa Malaysia in MYR.

Investment Amount	Trading Value (RM)	Brokerage Fees	Clearing Fee	Stamp Duty	Total Fees (Approximate)
RM500	Below RM699.99	1% of trading value (Min RM1) = RM5	0.03% of RM500 = RM0.15	RM1 per RM1,000 (rounded to RM1) = RM1	RM6.15
RM1,000	RM700.00 – RM9,999.99	Flat RM9	0.03% of RM1,000 = RM0.30	RM1 per RM1,000 (rounded to RM1) = RM1	RM10.30
RM10,000	RM10,000.00 – RM99,999.99	0.1% of trading value = RM10	0.03% of RM10,000 = RM3	RM1 per RM1,000 = RM10	RM23.00

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Trading on U.S. Markets – In USD

For U.S. trades, you can trade in either MYR or USD. The brokerage fee is as follows:

• All Trading Values: 0.1% of the trading value.
  • Minimum charge: USD1.88
  • Maximum charge: USD25

Additional Charge: A 1% surcharge on the monthly trading value for U.S. trades executed at a share price under $1, effective from 1 August 2023. This fee is debited before the 15th of the following month.

Here’s a breakdown of the fees and charges you would encounter on Rakuten Trade if you invested RM500, RM1,000, and RM10,000 in the U.S. market, converted to USD for simplicity.

(Note: This assumes a USD/MYR exchange rate of approximately 1 USD = 4.5 MYR.)

Investment Amount (RM)	Converted Amount (USD)	Brokerage Fees	SEC Fee (Sell Only)	FINRA Fee (Sell Only)	Total Fees (Approximate)
RM500	~USD111	0.1% of USD111 = USD0.11 (Min USD1.88) = USD1.88	0.00278% of USD111 ≈ USD0.003 (Min USD0.01) = USD0.01	USD0.000166 per share (Min USD0.01) = USD0.01	USD1.88 (for buy only); USD1.90(for sell)
RM1,000	~USD222	0.1% of USD222 = USD0.22 (Min USD1.88) = USD1.88	0.00278% of USD222 ≈ USD0.006 (Min USD0.01) = USD0.01	USD0.000166 per share (Min USD0.01) = USD0.01	USD1.88 (for buy only); USD1.90(for sell)
RM10,000	~USD2,222	0.1% of USD2,222 = USD2.22	0.00278% of USD2,222 ≈ USD0.06	USD0.000166 per share × 100 shares ≈ USD0.0166	USD2.22 (for buy only); USD2.30 (for sell)

Additional Notes

• For investments in stocks under USD1 per share, there is a 1% surcharge on monthly trading value, applied the following month.
• ADR Fees: If holding shares of non-U.S. companies listed in the U.S., ADR fees apply, ranging from USD0.01 to USD0.03 per share.

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Trading on Hong Kong Markets – In HKD

Hong Kong trades can be made in MYR or HKD. The brokerage fee structure is as follows:

• All Trading Values: 0.1% of the trading value.
  • Minimum charge: HKD35

 There are other additional fees that you may check out on the Rakuten Trade website here!

2. Fractional U.S. Stock Trading

Rakuten Trade offers access to U.S. stocks, with the option to buy fractional shares—a huge plus!

This feature allows to me invest in high-priced U.S. stocks, like the S&P 500, Google, Microsoft and Apple, without needing thousands of ringgit upfront. 

I can buy as little as:

– Buy unit: 0.01 unit

​​​​​​​​​- Sell unit: 0.0001 unit

Read my article on 3 Easy Ways to Invest in S&P500 as a Malaysian

3. User-Friendly Platform for Beginners

As a new investor, I wanted a platform that was easy to use and didn’t overwhelm me with too many technical tools. 

Rakuten Trade has a simple, clean interface, both on the app and web, that makes learning the basics of trading much smoother. 

The sign-up process was quick within 1 hour and fully digital, allowing me to get started without lengthy paperwork or in-person visits. 

Rakuten’s user interface, combined with its helpful guides, has made investing feel less intimidating.

4. Trusted Partnership with Kenanga Investment Bank

Knowing that Rakuten Trade is backed by Kenanga Investment Bank reassured me that my investments were in safe hands.

Rakuten Trade has a restricted Capital Markets Services License (“CMSL”) by the Securities Commission Malaysia to deal in listed securities and provide investment advice. They also have inhouse licensed Research as well as Equity Sales teams to provide their clients with daily investment ideas and tips. 

The joint venture between Rakuten Securities and Kenanga, two established financial institutions, gave me peace of mind that I was working with a reliable platform.

I have also personally contacted Rakuten Trade’s customer service via email a few times in the past on general inquiries and I am impressed that they responded fairly quickly and with utmost professionalism.

I have once reached out to them due to a mistake in their email where they misnamed me and they got back to me within 1 working day! I was very worried if my account was compromised due to the name change, but they were quick to check their own records and found that they have an error in their marketing listing and were quick to rectify it.

5. Rakuten Trade Rewards Program

Lastly, Rakuten Trade has a rewards system where every trade earns me points, which I can redeem for fee rebates and other perks. 

RM 1 / USD 1 = 1 RT Point​​​​​​  ​​​​

​​​​​​​These points are valid for 1 year* and can be used to offset my brokerage fees and/or convert them into lifestyle rewards like airasia rewards, BonusLink and Boost!

I personally use the points to save on brokerage fees.

My Results So Far: Gains, Lessons, and Mistakes

After 2 years of using Rakuten Trade, I’ve learned a lot—both from my wins and my mistakes. It’s been an eye-opening journey, filled with small gains, a few stumbles, and some valuable lessons that have shaped how I approach investing today. 

Here’s a look at my results and key takeaways so far.

1. Small but Steady Wins

Since starting, my portfolio has shown small but consistent gains, which has been incredibly motivating. 

Thanks to Rakuten’s fractional trading feature, I was able to invest in S&P 500 ETF consistently regardless of the stock price and quantity. 

The portfolio as a whole has had its ups and downs, but overall, the trend has been positive, and I’ve been pleased with the results so far.

There are moments when the markets dip, and I find myself getting emotionally invested. During these times, it’s crucial to remember that downturns are a natural part of the investing journey, offering valuable lessons we can learn from and grow with. 

Zooming out provides perspective, helping to ease fears and maintain confidence throughout the investing journey.

2. Lessons Learned Along the Way

Investing has taught me a few important lessons that I didn’t fully understand until I was in the thick of it. Here are some key takeaways:

• Patience is Key: I’ve realized that, especially in a volatile market, staying calm and not checking my portfolio every hour is crucial. Early on, I was tempted to buy and sell frequently, but I’ve learned that holding my investments and riding out short-term fluctuations has brought better results.

• Research Makes a Difference: Initially, I bought a few stocks based on gut feelings or recommendations from others. However, the ones I researched and understood well have performed the best. This has taught me that a little due diligence goes a long way in making confident decisions.

• Diversification Minimizes Risk: I’ve also learned the importance of diversifying my investments. Keeping my strategy simple with investing in S&P 500 has helped balance my portfolio’s performance, so that it is easier to monitor the whole market rather than many individual stocks.

Read my article on my experience with Lifestyle Creep

3. Looking Ahead

Based on these experiences, I have formed my own investment strategy with the S&P500 ETF and cryptocurrency. My plan now is to focus on steady, simple, long-term investments rather than attempting to time the market or chase trends.

Who I Think Rakuten Trade is Best For

While Rakuten Trade has a lot to offer, it may not suit everyone’s needs. Here’s who I believe would benefit most from using Rakuten Trade.

1. Beginners and First-Time Investors

Rakuten Trade is one of the most accessible platforms for beginners. Its user-friendly design makes it easy to navigate without feeling overwhelmed by technical jargon or complex trading tools. 

The straightforward onboarding process and affordable minimum investment requirements are ideal for those who are new to investing and want a platform where they can start learning the basics without a steep learning curve.

2. Investors Looking for Low Fees

One of Rakuten Trade’s biggest draws is their low, transparent fee structure. 

Unlike traditional brokerages, which can have high fees and minimums, Rakuten keeps its costs minimal, making it perfect for budget-conscious investors. 

3. Those Interested in U.S. Stocks and Fractional Shares

For Malaysian investors seeking to own a piece of iconic U.S. companies without hefty upfront capital, Rakuten Trade’s fractional shares are a true game-changer. 

This feature allows you to invest in portions of high-priced stocks like Apple and Amazon, making it possible to gain international exposure and diversify your portfolio affordably. 

Now, Malaysians can feel the pride of being shareholders in leading global companies—even with a modest budget.

4. DIY Investors Who Don’t Need Advanced Research Tools

Rakuten Trade is a great choice for investors who prefer a DIY approach and don’t require extensive research or portfolio analysis tools. 

While it provides enough information for making informed trades, more advanced investors who rely on deep research tools may find it limiting. 

However, if you’re comfortable managing your own portfolio with minimal technical analysis, Rakuten offers everything you need to trade effectively.

5. Investors Who Value Rewards and Extra Perks

Rakuten Trade’s rewards program is a unique feature that appeals to investors who enjoy added perks. 

Every trade earns you Rakuten points that can be redeemed for trading rebates and other benefits. While this may not be a deciding factor on its own, it’s a nice bonus for users who want to feel rewarded for their trading activity.

Also, don’t miss out on up to RM200 in Shopee Vouchers with Rakuten Trade’s year-end promo! Sign up, start trading across markets, and unlock rewards with each step you take!

How to Open A Cash Upfront Account & Enable Foreign Market Service

To open a Cash Upfront Account:

1. Have the documents ready: NRIC / Passport Image (front & back) and phone bill
2. Go to their website at www.rakutentrade.my or download the iSPEED.my app
3. Create an account through the iSPEED.my app by tapping on “Login”, then “Online Account Opening”
4. Sign up for a Cash Upfront Account
5. Enter your:
   1. Personal information
   2. Financial details
   3. Investment profiling
   4. Then hit submit
6. Check your email for Account Activation steps

To enable Foreign Market service:

1. Log into your Rakuten Trade account
2. Click on Foreign Market and sign in for verification
3. Share a bit more personal information
4. Insert trading pin and click submit
5. Process completed! It will take up to 2-3 days for your Foreign Trading request to be processed

For more information, check out Rakuten Trade’s YouTube video guide here!

Conclusion

Overall, Rakuten Trade has been a preferred choice for my investing journey, providing a low-cost, beginner-friendly platform that balances simplicity with access to local, Hong Kong and U.S. markets. 

My results so far have included some gains, a few mistakes, and a lot of valuable lessons that have helped me refine my strategy and understand the importance of patience and research.

For those considering Rakuten Trade, I believe it’s best suited for beginners, budget-conscious investors, and anyone seeking affordable access to both local and international markets. 

Have you tried Rakuten Trade? Or are you thinking about starting? I’d love to hear about your experiences and any questions you may have! 

Drop a comment below to share your thoughts, or feel free to reach out directly to me via email [email protected] 

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