Malaysian online equities broker Rakuten Trade announced the expansion of its Cash Upfront Trading Account to include access into foreign markets beginning with the US.
Rakuten Trade said that this decision was based on a high volume of requests that it has received since its launch in 2017 as a result of a partnership between Kenanga and Rakuten Group.
Designed for the digitally savvy individuals who are keen to execute self-directed trades, Rakuten Trade’s Cash Upfront account offers retail investors low brokerage fees (from RM7 to RM100) and competitive exchange rates for trading on both Bursa Malaysia and US markets.
The company also features an all-in-one Cash Upfront dashboard for clients to execute their own stock trades.
Investors will only have one trading limit for all markets as well as access to research reports from the inhouse research team, Rakuten Securities (Research), and Motley Fools.
Additionally, investors will also be able to activate their accounts in less than one hour for trading in Malaysia and within three days to enable US trading.
Malaysians and foreign nationals with a Malaysian bank account are eligible to apply for a Cash Upfront Account for trading in both local and foreign markets.
Upon successful activation of a Cash Upfront Account, the client needs to opt in to enable the Foreign Market service.
Kazumasa Mise, Rakuten Trade’s Chief Executive Officer said,
“Our US share trading service amplifies Rakuten Trade’s value propositions and unlocks more value through digital efficiencies.
With this enhancement, our clients will now have access to trade stocks like Apple and Tesla, as well as Exchange Traded Funds (ETF) that are listed on the New York Stock Exchange and Nasdaq, in addition to over 1,000 stocks on Bursa Malaysia.”
Featured image: Edited from Unsplash