Investors Can Easily Convert Between MYR And USD With This Foreign Currency Facility
For new investors, the thought of investing in the US market may have crossed your mind but the high cost involved could have put you off it.
Now with Rakuten Trade, even new investors can invest in the US Market at an affordable entry cost. With their new enhanced U.S. trading service, Malaysians can even choose to buy stocks in MYR or USD currency.
The same goes for selling the stock, where users can choose to conduct the transaction in USD or MYR using Rakuten’s iSpeed.my app and web platform. According to Rakuten, this enhanced Foreign Market platform was mainly to improve the U.S. trading experience for Malaysians.
Previously, many investors opted to sign up with overseas brokers to invest in the U.S. market due to the limited and expensive options available for them locally.
Malaysian investors now have the added flexibility and choice to trade in either MYR or USD at low brokerage rates of RM7-RM100 or USD1.88 – USD25, respectively.
According to Mr Kazumasa Mise, CEO (Chief Executive Officer) of Rakuten Trade, “Almost 25,000 U.S. trading accounts have been activated through Rakuten Trade since we first introduced the service in January. It has also served as a catalyst for new investors to test trading strategies on Bursa Malaysia before diversifying onto the U.S. markets. To date, more than 85% of Rakuten Trade’s clients trade first on Bursa Malaysia before foraying into the U.S. Markets. As a result, Rakuten Trade continues to record strong and steady trading growth on NYSE (New York Stock Exchange) and NASDAQ.”
In conjunction with the rollout, Rakuten Trade also announced its Trade & Win Google Share Campaign that rewards U.S. trading account holders with up to 5,000 RT points or RM50 brokerage rebate. For those who choose to trade and maintain a cash balance in USD, one of 50 Google shares* stand to be won.
For more information on Rakuten Trade, please visit www.rakutentrade.my.
* T&C apply