Rakuten Trade Sdn. Bhd. — Attraction in Kuala Lumpur

Pros: Convenient as we only need to register online instead of going to brick and mortar branches like banks. Easy to use for new users. Market reports are provided but slower than the actual market (prediction is one step slower than real time market movement). Benefits for new users such as HelloGold promotion and Rakuten Points. Cheap brokerage fee of RM7 before tax and stamp duty.

Cons: Not direct account. Need to email them earlier if we want to attend AGM. App (iSpeed) is hard to understand and use for new users (log in with laptop is much better). Always have maintenance but still have technical issues. (E.g. Today, 9 June 2020 8:30am cannot log in until 9:40am). This could place traders at disadvantage as they could not buy, sell or amend order immediately. Rakuten Facebook replied that we could make such action during the period by emailing them. I have tried and waiting for their response.

Summary: If you are a new user or learner, you could try it out as it is cheap and easy to use. They have different types of accounts such as cash upfront, contra and margin as well. However, if you are an expert or day trader, I recommend you to look for other platforms as their technical issues would make you earn lesser or lose much more than expected. (e.g. market open price @ RM0.50 9:00am but only able to log in and place order at 9:40am where the price is already RM0.60 or higher depending on stocks. I have emailed them at 9:13am and hope they could match my order as promised by their...

Give a 5 stars simply because of I think they are better than 1.5 stars. I am long term holding stock and less of trades (

I have been trading for the last 30 years and Rakuten Trade has to be the WORST and the most HORRIFIC broker I have come across. Two months ago, I applied for a Foreign Trading Account and until today (as I am writing this review), my application is still pending approval. I wrote in to the Customer Service as many as 5 to 6 times but every time the reply was they are closely communicating with our relevant department to expedite this process as apparently the dept need to do 'manual data adjustment'. They use the word 'expedite' but its more than 2 months now! I asked the Customer Service when my application will be approved but until my last email, they were still unable to give me a definite reply. Rakuten just keeps you waiting. Therefore, I have cancelled my account. I have informed all my trading community in social media to avoid using Rakuten Trade as the customer service cannot even resolve my simple enquiry and the service is disappointingly slow. Anyone looking for a broker, my advice is AVOID Rakuten Trade...