{"id":53907,"date":"2022-09-09T14:32:29","date_gmt":"2022-09-09T06:32:29","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=53907"},"modified":"2022-09-09T14:32:29","modified_gmt":"2022-09-09T06:32:29","slug":"how-to-buy-us-stocks-in-myr-or-usd","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/how-to-buy-us-stocks-in-myr-or-usd","title":{"rendered":"Will You Choose The Red Pill Or Blue Pill?"},"content":{"rendered":"

The red pill or blue pill scene from the movie Matrix (1999) was nothing short of memorable.<\/p>\n

It was the turning point for both the lead character, Neo and the movie as he had to make the choice to either live in ignorance or be able to live a life of truth \u2026 otherwise seen as slowing down the \u201cspeed of a bullet\u201d and cool dodging skills.<\/p>\n

The keyword here is \u2018choice\u2019 and here\u2019s your turn to choose. Ready?<\/p>\n

<\/span>You choose –\u00a0 Ringgit Malaysia or<\/em> USD.<\/span><\/h2>\n

The Red Pill: Ringgit Malaysia<\/h4>\n

When I started trading on the U.S. market (as a beginner), currency conversion was a concern. Not on the MYR\/USD currency value but more on how to convert my cash.<\/p>\n

Investing through local banks were out of the question due to high brokerage fees and possibly taking longer than expected for conversion, and support.<\/p>\n

The experience of trading U.S stocks on the Rakuten Trade platform can be summarized in one sentence; auto settlement in Ringgit is more convenient because it provided a shortcut for me to own U.S. stocks with a snap of the finger.<\/p>\n

While I may lose out on the foreign exchange, FX (because of auto conversion from MYR to USD when I bought shares, and USD to MYR when sold), it didn\u2019t bother me that much because I hold stocks for mid to long term and I rarely day trade.<\/p>\n

I also do not need to worry about additional steps or calculations, and I don\u2019t need to know when the time was right to convert my cash to MYR from USD.<\/div>

<\/div><\/div>\n

The Blue Pill: USD<\/h4>\n

The idea of “levelling up” is enticing, just like upgrading to the latest Samsung Galaxy Flip 3. But, are you ready?<\/p>\n

Trading in USD instead of MYR can be daunting for beginners but for those more familiar with trading, who are more confident in their trading strategy or trade more than three times a month, trading in USD might be a better pill to swallow.<\/p>\n

Rakuten Trade now offers trading services to the US Market in either USD or MYR!<\/div>
<\/div><\/div>\n

Like what Morpheus is trying to say\u2026 the choice is yours.<\/p>\n

You now have the flexibility to choose which currency to trade in, that best fits your style.<\/p>\n

I\u2019ve been trading U.S. stocks since Rakuten Trade first launched its service in Jan this year, I\u2019m now quite comfortable trading U.S. stocks and believe it\u2019s time for an upgrade that better complements my style.<\/p>\n

By allowing my funds to remain in USD, I only pay the FX conversion fee once and keep available cash in USD, ready to trade. This will help me save on my trades especially since I\u2019m keen to start making short-term trades aka Buy and Sell more frequently or within a short time frame.<\/p>\n

When I\u2019d like to cash out, all I need to do is to request the conversion into MYR on the dashboard and voil\u00e0!<\/p>\n

Currency conversion happens in real-time so that means that you don\u2019t need to wait a few days for your funds to be converted into USD from MYR or vice versa. Just deposit, convert and go!<\/p>\n

<\/span>Your choice. You choose.<\/span><\/h2>\n

New to trading in the U.S. and keen to own familiar brands like Apple, Tesla, Google, etc? Here\u2019s your chance to do it at the same low brokerage (from USD1.88 to a maximum USD25).<\/p>\n

Existing, seasoned investors can opt to keep your funds in USD for a more seamless trading experience.<\/p>\n

So whichever \u201cpill\u201d you choose\u2026 Rakuten Trade can make it happen.<\/p>\n

About the writer: Hooi Mun Keong has an extensive background in dealing in equities. He is a digital Educator at\u00a0Rakuten Trade<\/strong><\/a>\u00a0and holds a Capital Market Service Representative License, dealing in Securities from the Securities Commission Malaysia.<\/em><\/div><\/div>\n

Read More: Here\u2019s What You Need To Know Before You Start Trading On The Stock Market<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Here’s how to choose what best fits your style.<\/p>\n","protected":false},"author":41,"featured_media":53921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[263,1,267],"tags":[660],"class_list":["post-53907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-etf","category-investment","category-share-trading","tag-investment"],"acf":[],"yoast_head":"\nWill You Choose The Red Or Blue Pill When It Comes To Investing?<\/title>\n<meta name=\"description\" content=\"Dealing with currency conversion while investing may be scary for beginners. 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