Rakuten Trade offers trading on Bursa Malaysia with a FinTech platform that blends Malaysian and Japanese best practices. They are Malaysia’s first online equities broker, providing investors with cutting-edge digital investment alternatives.
What is share trading?
Share trading entails purchasing and selling company shares to profit from price fluctuations daily. Share traders differ from regular stock market investors because they use a short-term approach rather than a long-term one.
About Contra
A Contra Account is similar to a charge card. This means you will be given a spending limit depending on the shares and cash you have put up as collateral, as well as the shares you want to buy, but you will still have to settle your transactions within two days.
Why should I choose Contra?
Trade up to 5 times the amount of money in your account
Trade and pay the exact brokerage charges as a Cash Upfront Account
The Day Trade Rebate Program is available to you
The interest rate on the available cash amount will be 1% p.a
Settle the transaction (either gained or paid to cover a loss) 2 days following the transaction (T+2)
There are three types of accounts available: Cash Upfront, Dual, and Combo
Who can open a Contra account?
Anyone between the ages of 18 to 65 years old can open a Contra account.
What is the minimum purchase of a Contra account?
There is no minimum deposit. However, your trading limit is limited by the amount of money in your Cash Upfront Account.
What are the fees of a Contra account?
Brokerage fees apply as below:
Below RM999.99: RM7
Between RM1,000.00 – RM9,999.99: RM9
Between RM10,000.00 – RM99,999.99: 0.1% of trading value
Equal or above RM100,000.00: RM100
What is the process of opening a Contra account?
You should have these documents before applying for the account:
Copy of NRIC/ passport (front and back)
Copy of utility/ phone bill (if permanent and residential address differs)
You can choose your preferred Contra Account type by clicking here.
How do I contact Rakuten Trade?
You can contact them at +60321107110 or customerservice@rakutentrade.my.
