Malaysian online equities broker Rakuten Trade has introduced fractional trading for shares listed on Nasdaq and the New York Stock Exchange (NYSE).
The fractional share trading starts from 0.01 unit (buy) or 0.0001 unit (sell) for US stocks, ADRs and ETFs tradeable on Rakuten Trade where the brokerage fees range from RM1 to RM100.
This is the second enhancement to Rakuten Trade’s U.S. trading platform as it had previously announced its foreign currency settlement services enabling investors to choose to trade in either Ringgit Malaysia or in US Dollar.
Rakuten Trade reported that it had activated almost 265,000 accounts and processed a total trading value of more than RM115 billion since its inception May 2017.
Its clients’ assets under administration surpassed RM3.7 billion.
Kazumasa Mise, CEO of Rakuten Trade said,
“We are making significant changes to our services in ways that will stimulate online trading and boost retail participation, especially among new investors.
US fractional share trading is a game-changer for Malaysia’s investors, allowing for more affordable, diversified and balanced portfolio that includes familiar brands like Apple, Amazon, and Tesla.”
