FinTech Company of the Year, Rakuten Trade Sdn Bhd (“Rakuten Trade”) turns one this month with over 12,000 clients, of which a little over 40% were first-timers to the equity broking market in Malaysia.
Rakuten Trade, the country’s first completely digital equities broker, said this was a feat for the start-up and a clear testament to its first-in-market FinTech business model.
Rakuten Trade Managing Director, Mr Kaoru Arai, said “Our quantum jump in the industry demonstrates that the more digitally inclined investors in Malaysia are ripe for a fresh trading experience. Almost 80% of our clients are below the age of 40 and most of them are active traders. In addition to the growing number of clients, we are continuously experiencing healthy trading activities in terms of both volume and value.”
He added the company’s growth was also due to the support received from both Kenanga Investment Bank Berhad, Rakuten Securities, Inc., local regulators, business partners and Rakuten Trade employees.
During the media briefing, Mr Yuji Kusunoki, President, Rakuten Securities, Inc. and Mr Kaoru Arai announced that it would soon be launching its second innovative product – a Contra Trading facility. This will complement Rakuten Trade’s existing Cash Upfront facility.
Rakuten Trade also attributes its client appeal on its Rewards Eco System, the first of its kind in Malaysia, that offers access to three of the country’s biggest loyalty points providers – AirAsia BIG, B Infinite (part of Berjaya Group) and BonusLink under one platform.
As part of its first-year anniversary celebration, Rakuten Trade also announced that on Friday, 25th May 2018, all its clients would enjoy zero brokerage* on all successfully matched trades.
Rakuten Trade is the result of a joint venture between Malaysia’s leading independent investment bank Kenanga Investment Bank Berhad and Japan’s Rakuten Securities, Inc. which is part of Rakuten Group (“Rakuten”), a global innovation leader. The Rakuten Group empowers society, while providing convenience to customers around the world with easy-to-use and innovative services.