20th May 2022 - 2 min read
Rakuten Trade has hinted that it will be introducing new trading offerings and features on its platform soon, including foreign currency wallets and trading access to Hong Kong. This comes as the digital equity broker celebrates its fifth year of operation in Malaysia.
In a statement, Rakuten Trade said that it is looking to strategically scale up for its next chapter of growth, and its plans will also benefit its growing base of investors. “Remaining committed to the growth of digital investors, Rakuten Trade will expand its trading offerings to include foreign currency wallets, trading access to Hong Kong, and an enhanced reward ecosystem,” it shared, adding that it had just introduced its stop order management services for Bursa Malaysia trades last month.
Aside from sharing these upcoming plans, Rakuten Trade also highlighted some of its accomplishments to date, including having activated more than 245,000 trading accounts and more than 20,000 for its US trading service (as of 30 April 2021). To note, Rakuten Trade had only rolled out its US trading service early this year, in January 2022.
On top of that, Rakuten Trade noted that it has also handled more than RM100 billion in total trading value on Bursa Malaysia since it first began operation. Meanwhile, clients’ assets under trust amounted to more than RM3.7 billion.
“The retail market in Malaysia has also matured tremendously in recent years and with it, the Rakuten Trade customer profile – with a growing number of traders of more than three years of experience finding our platform a complementary tool to their existing trading strategy,” said the chief executive officer of Rakuten Trade, Kazumasa Mise.
Additionally, Kazumasa stressed the role of technology and innovation in boosting the growth of the platform. “As the appeal for our platform continues to grow, further adoption of technology and innovation is necessary to thrive in this era of digitalisation. Our US trading service is a prime example of this, and as a result, currently contributes close to 20% of Rakuten Trade’s monthly revenue,” he further stated.
(Source: Rakuten Trade)
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