fbpx

Last Updated on May 1, 2022 by Chin Yi Xuan

Rakuten Trade has recently released their much anticipated US stock trading service. In fact, thanks to Rakuten Trade’s affordable fee structure, it is the only Malaysia-regulated broker that I’d recommend for Malaysians that want to invest in the US stock market. 

In this guide, let me share with you (step-by-step) how to buy your first US share on Rakuten Trade! Also, I’ll show you some tips & tricks to familiarize yourself with the jargon on the platform!

Before you proceed, here are some related posts that might interest you:

NEW: In addition, check out Rakuten Trade’s latest US share giveaway campaign – win FREE US shares (eg. Microsoft, Meta, Apple) whenever you make a trade! Details at the end of this article! 

p

Sign up for a Rakuten Trade account (+Referral Link)

Before you can buy your first US share on Rakuten Trade, you’ll have to sign up for a Rakuten Trade account. If you have done so, feel free to skip to the next section.

Rakuten Trade Account Opening Reward

Otherwise, if you are keen to open an account, consider using my Rakuten Trade referral link by clicking the button below! For that, you’ll get:

  • 500 Rakuten Trade (RT) points worth RM5 to offset your brokerage fee
  • + 150 RT points when you deposit a min. of RM5,000 within 5 days
  • + 150 RT points when you transfer your shares from other brokers to Rakuten Trade
  • + 1x brokerage fee rebate when you place your 1st trade within 30 days after your account is activated.

Aside from that, Rakuten Trade users get +1 RT point for every RM2 brokerage paid!

Open a Rakuten Trade Account Today!

If you need guidance, check out my post below as I’ll guide you on how to get started! 

READ MORE: How to sign up to trade US stocks via Rakuten Trade


How to buy your first US share on Rakuten Trade (+tips)

Note: The following steps are the same regardless of whether you use Rakuten Trade’s web platform or iSpeed app to buy US stocks. 

Step 1: Search for stock/ticker

Log in to your Rakuten Trade account. Then, search for the name or ticker of the stocks/ETF that you want to invest in.

How to buy US stocks on Rakuten Trade (step 1)

Next, click the ‘Buy’ button.

How to buy US stocks on Rakuten Trade (step 1b)

Step 2: Decide on your limit order price

Buy Limit Order allows investors to line up their orders to buy shares at a specific price or better. At the moment, it is the only execution method on Rakuten Trade.

Example:

As shown in the screenshot, Apple’ share price is $168.40.

  • If you want to buy Apple shares at a lower price, let’s say $168.00, then set your limit price to $168.00. Essentially, what you are doing is to tell the system that ‘Execute Buy Order if price drops to $168.00 or less’
  • Tips: If you want to buy Apple shares directly at $168.40, then set your limit price at $168.40. Usually, for most shares with enough liquidity, you should most likely be able to buy at the price without issue.

How to buy US stocks on Rakuten Trade (step 2)

Step 3: Decide quantity to buy + mindful of indicative exchange rate

Next, decide on the number of shares that you want to buy.

Tips: Some shares are denominated in x1 units, while some are in x100 units, so do be mindful of it! 

Before you execute your order, it is helpful to know that on Rakuten Trade, you can invest in US stocks directly using MYR. In other words, your MYR will be converted to USD automatically while you buy/sell your shares. 

Hence, do take note of the exchange rate for your transaction. The rate is updated daily, quoted by Rakuten Trade’s foreign exchange provider. There is usually a minor spread between the rate offered compared to what you found on Google.

How to buy US stocks on Rakuten Trade (step 3)

Step 4: Decide the validity period of your order

Validity decides how long your buy order will stay relevant until it expires. Under validity, there are 2 options:

  • Day: Your limit order will be canceled automatically by the end of the trading day if it is not filled. No commissions will be charged for the canceled order.
  • Good-till-date (GTD): Your limit order will remain active until a specified date of your choice. Select GTD if you want your limit order to stay active for a longer period of time.

How to buy US stocks on Rakuten Trade (step 4)

Step 5: Key in trading pin

Key in your Rakuten Trade trading pin to approve the order. Click ‘Confirm Order’ and your order will be processed – that’s it!

How to buy US stocks on Rakuten Trade (step 5)

How to buy US stocks on Rakuten Trade (check order status)


Tips: Use RT Points to offset brokerage fee

RT points are points that are rewarded when you open an account, fund your account, and place a trade. 

If you have existing RT points, you can select the option to use your points to offset the brokerage fee. This feature is only available if your limit order’s validity is set to Day instead of GTD.

Use RT points to Lower brokerage fee

Note: You’ll still pay for the brokerage fee when your order is filled, but it’ll be rebated back to your account by the end of the trading session.

RT points redemption

p.s. If you are planning to open a Rakuten Trade account, definitely consider using my referral link by clicking the button below – and get up to 650 RT points & 1x brokerage fee rebate!

Open a Rakuten Trade Account Today!

 


Must-Know: US Stock Market Operating Hours

Barring holidays or special circumstances, the US stock market opens between 9:30am to 4:00pm eastern time (ET) in the US.

As Malaysians, there are 2 things that we need to know while investing in the US stock market:

  • Malaysian time is 12 hours ahead of the US.
  • Daylight Savings Time (DST): DST is the time of the year when the US market will adjust their clocks to move an hour of daylight from the morning to the evening.

What does DST mean to Malaysian investors?

  • In 2022, DST will start on 13th March. During DST, the US stock market will begin at 9:30pm Malaysia time.
  • Meanwhile, DST will end on 6th November 2022. After DST ends, the US stock market will begin at 10:30pm Malaysia time.

No Money Lah’s Verdict

So there you have it – how to buy your first US stock on Rakuten Trade! 

If this is your first time investing in US stocks on Rakuten Trade, I hope this buying guide has been helpful to you! 

For more personal finance and investing content, consider subscribing to my FREE newsletter

Open a Rakuten Trade Account Today!


NEW: Rakuten Trade US Share Giveaway! (7/3/2022 – 28/5/2022)

Rakuten Trade US Share Giveaway

From 7th March – 28th May 2022, simply perform one US stock trade via Rakuten Trade and you’ll stand a chance to win stocks like Apple, Microsoft, Nvidia, Meta, Spotify, Starbucks, and more!

How it works:

Part 1: Weekly Winner

  • Perform at least 1 successful US stock trade and you’ll automatically qualify to enter a weekly lucky draw to win 1 FREE US stock.
  • Every week, 50 eligible users will be selected to win 1 FREE US share, such as Apple, Meta, Microsoft, and more!

Rakuten Trade US Share Giveaway (Weekly Prizes)

Part 2: Grand Finale Lucky Draw

  • 1,000 eligible users shall win 1 FREE share from Rakuten Trade, selected based on a lucky draw during the Campaign Period.
  • 1 successful US trade = 1 entry to the Grand Finale lucky draw. Eligible users are allowed multiple entries for each successful U.S. trade.

Rakuten Trade US Share Giveaway (Grand Finale)

Note: Click HERE to check out the full T&C of Rakuten Trade’s US Share Giveaway campaign.


Disclaimer:

This post contains affiliate links, which afford No Money Lah a small referral (and in return, support this blog) if you sign up for an account using my referral link.

.

Chin Yi Xuan

Hi there! I am Yi Xuan. I am a writer, personal finance & REIT enthusiast, and a developing trader with the goal to become a full-time funded trader. Every week, I write about my personal learnings & discovery about life, money, and the market.

About Author & No Money Lah

Privacy Preference Center