Chin Yi Xuan, Author at No Money Lah

Tiger Brokers Review: Affordable & Reliable Way to Invest in the Singapore, US and Hong Kong Stock Market!

In this article, let's look at my review on Tiger Brokers, a broker that provides affordable access to foreign stock market, while having strong regulations in place.

As an investor, I have always been looking for the most affordable way to invest in overseas stock market.

This is especially true for me as a Real Estate Investment Trust (REIT) enthusiast, as having affordable access to Singapore, Hong Kong and the US stock market will allow me to invest in many attractive REITs globally.

At the same time, I also have concerns about the regulatory issue of foreign brokers, which of course relates to the safety of my funds.

Tiger Brokers come in to fit my needs nicely. Here's my updated review of Tiger Brokers after using it for more than 2 years:

Tiger Brokers Highlights:

Exposure to different markets & instruments with just one account. (Singapore, US, Hong Kong, Australia & China stock market, Futures, Warrants & Options)
Highly competitive and attractive fees.
100% online account opening & management. No visit to branch needed.
Strong regulatory background + company is publicly listed on NASDAQ .
Planning to open an account? Click the button below to use my Tiger Brokers referral link, and get the following when you open a new account (promo ending on 21/5/2022)!
- a. Account Registration
  
  (i) 60 Commission-Free Trades in 365 Days + 5 Commission-Free Trades for Futures in 30 days
  (ii) SGD5 stock voucher
  (iii) 100 Tiger Coins which can be exchanged for various rewards within the app
  (vi) FREE Reuters Market Research Videos for 30 days
  (v) FREE Real-time Market Data
- b. Account Opening rewards
  
  1 FREE SoFi Share (added to your account in 10 business days upon account opening)
- c. Account Funded (Initial Deposit of SGD2,000 or more)
  
  Draw and get one free stock, valued between SGD25- SGD1,200. (Tesla, Apple, Pfizer, Twitter, AMC, 10 SGX shares)
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Open A Tiger Brokers Account Today!

Tiger Brokers Regulation – How is Your Money Protected?

Let’s address the main concern of most investors when it comes to choosing a foreign broker – is it regulated by a proper/respected authority?

When it comes to their operation in Southeast Asia, Tiger Brokers is regulated by the Monetary Authority of Singapore (MAS), with a Capital Markets Services License to operate a legal brokerage business. Globally, Tiger Brokers is also regulated by the respective authorities from the US (SEC), Australia (ASIC), and New Zealand (FSPR) as well.

In short, Tiger Brokers is a well-regulated broker by proper authorities and is definitely way better than the brokers registered in some random African countries.

In regard to money/capital protection, there is strict segregation of clients’ capital and assets apart from Tiger Brokers’ own capital:

Clients’ Capital: Kept by DBS Commercial Bank
Clients’ Investment Assets:

- Singapore Stocks: Held by DBS Custodian Bank

- US Stocks: Held by Interactive Brokers

- HK Stocks: Held by Interactive Broker

To summarize, Tiger Brokers is held by a high standard of regulations and accountability towards clients’ assets and capital. As such, I have no problem recommending Tiger Brokers to fellow investors looking to invest in foreign markets.

Tiger Brokers Fees/Commission Comparison – Amazing Value & Highly Competitive Fees

Ultimately, what landed me on Tiger Brokers is its highly competitive commission.

While there are local brokers that offer exposure to foreign markets, they are super expensive (high barrier of entry), and the fee details are rarely available on their official websites (not transparent at all). As someone looking to invest affordably in the Singapore, US, and Hong Kong market, Tiger Brokers is certainly worth considering.

Below is the commission comparison table of Tiger Brokers alongside some other equally regulated (by MAS of Singapore) alternatives:

2022 Commission charged by respective brokers*	Tiger Brokers (SG)	Moomoo (SG)	POEMS Starter by Phillip Securities (SG)	Maybank Global Investing (Malaysia)***
Singapore Market	0.06%, or min. SGD1.99/trade	0.06%, or min. SGD2.49/trade	0.08%, or a minimum of SGD 10/trade. (No minimum charge until 31/12/2022)	SGD25, or minimum 0.40%/trade – whichever is higher.
US Market	USD 0.01/share, or a minimum of USD 1.99/trade.	USD 0.01/share, or a minimum of USD 1.99/trade.	Flat USD 3.88/trade	SGD25, or minimum 0.40%/trade – whichever is higher.
Hong Kong Market	0.06%, or a minimum of HKD 15/trade.	0.03%, or a minimum of HKD 18/trade.	0.08%, or a minimum of HKD 30/trade.	N/A

*Stated are fees charged by the brokers themselves. Please note that there are also additional (albeit minimal) fees charged by the respective exchanges in a transaction. (More details HERE) ***Based on my best research since I cannot find any official foreign stock fee structure from local brokers’ website. If you are interested, do approach your respective local brokers for more info.

Open A Tiger Brokers Account Today!

How to Open a Tiger Brokers Account?

a. Account Types

There are 2 types of trading accounts offered by Tiger Brokers, namely:

- Margin Account (eligibility: 21 – 65 y/o)

Margin Account supports margin trading and short selling (intraday leverage up to 4x; overnight leverage up to 2x).

- Cash Upfront Account (eligibility: 18 – 75 y/o)

Cash Account only allows trading stocks with cash. Margin trading and short selling are unavailable.

In short, you invest or trade with what you have deposited in your account.

If you are below 21 y/o currently, you can open a Cash Upfront Account first, then upgrade to a Margin Account once you reach 21, along with a full-time job.

b. Account Opening Process

The account opening process does take some time, but it is simple & straightforward. Spare around 15 – 20 minutes to prepare the documents needed to smoothen your account-opening process.

If this is your first time opening a foreign brokerage account, I highly recommend you to follow the steps below – as I’ll explain some potential terms that you may not be familiar with:

Step 1: Prepare for the Documents/Details

- Nationality/Full Name/Current Residential Address/Citizenship/Date of Birth/IC Information
- Employer’s name and address
- Details of assets and income
- Investment objectives and experience
- Proof of Identity (IC/Passport)
- Proof of Residential Address (IC/Residential Estate Certification/Utility Bills - eg. Water/Phone Bill within the past 6 months, showing your full name & address)
- Bank Statement (issued within the past 6 months, showing your full name & address)

Step 2: Open a Tiger Brokers Account

Click HERE to use my Tiger Brokers referral link so you can enjoy account opening rewards!

When you click on the referral link, the rewards will be automatically applied and you can start your account opening process.

Step 3: Key in Your Nationality & Tax Residency Country.

Tax Identification Number (TIN) is your local tax number. If you are still studying, or do not have an account yet, just tick ‘I don’t have a TIN’ and state your reasoning.

Step 4: Key in Your Personal Info & Employment Details.

Step 5: Decide if you want to open a Margin Account or a Cash Account.

Also, decide if you need access to instruments like Futures and Warrants (p.s. just tick ‘No’ if you don’t know what these are).

**Step 6: Read and proceed after you agree to the conditions of the W8-Ben form*.**

*What is W-8Ben form?

Filling in the W-8 Form is a requirement by the US Inland Revenue Service for account holders to declare that the beneficiary owner of the amount received from US sources is not of US origin. For clients who want to trade the U.S. markets, they will need to complete this form.

Step 7: Upload the necessary documents.

Step 8: Verify your identity by scanning your face. Follow the steps as shown below:

Step 9: You are done!

Generally, the account will be opened within 1 to 3 business days after the account opening application is submitted.

You will receive an SMS & email notification upon a successful account opening. Alternatively, you may log in to Tiger Brokers' official website to check your account opening status.

How to Fund Your Tiger Brokers Account

After your account is approved and opened, the next thing that you’d want to do is to fund your account. There are 2 main ways for you to fund your Tiger Brokers account:

Method 1 (recommended): Funding Tiger Brokers via a Singapore Bank Account (CIMB SG)

The first, and my recommended way to fund your Tiger Brokers account is through a Singapore bank account.

The deposit experience is fast, and you'll also save on the expensive intermediary banking fees (SGD20/USD30) that incur when you use FTT via a Malaysia bank account.

Check out my detailed guide on:

The whole process may take some time but trust me, the savings are going to be worth it.

Method 2: Funding Tiger Brokers via Foreign Telegraphic Transfer (FTT) through Malaysia banks

In the following section, I'll show you how to fund your Tiger Brokers account via FTT through local banks. That said, I do not recommend this method due to expensive intermediary banking fees (SGD20/USD30) per transfer.

If this is your first time, the process may be a little intimidating for you so I’ve created a step-by-step for you below:

Step 1: Open your Tiger Brokers app

Step 2: Select ‘Me’ at the bottom right corner > Tiger Account

Step 3: Select ‘Deposit’

Step 4: Select to deposit in the currency of your choice (SGD/USD/HKD).

Step 5: Select ‘Other Overseas Bank Accounts’

Step 6: You’ll be shown the remittance/transfer details.

Remember to key in the payment reference correctly when you do your transfer in Step 7!

Step 7: Do the remittance from your bank via FTT.

A standard FTT fee will be charged for every FTT transfer. Aside from that, there are 2 things to take note of:

Generally, the transfer will take between 1 – 3 days but from my experience, it only took several hours for my deposit to reflect in my Tiger Brokers account.
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For all these FTT transfers, Tiger Brokers do not charge for the whole funding process. However, our banks’ appointed intermediary bank will be charging a clearance fee (varies according to banks). For me (Maybank FTT), it is SGD20 for SGD transfers and $30 for USD transfers.

In short, the total cost for my FTT transfer via Maybank is (1) Standard FTT fee + (2) SGD20 (SGD transfer)/$30 (USD transfer). Again, this is NOT a fee from Tiger Brokers but it's a clearance fee charged by the banks.

As you can see, this is the reason why I do not recommend funding your Tiger Brokers account via local FTT. Instead, save on these fees by checking out my guide on how to fund your Tiger Brokers account through a Singapore bank account.

Step 8: Inform Tigers Broker to check for your deposit upon transfer + upload transfer receipt

Step 9: You are done! You will receive an email once your deposit is accepted.

How to withdraw from Tiger Brokers

Personally, I'd recommend withdrawing your funds from Tiger Brokers via a Singapore bank account, for several key reasons:

Direct withdrawal to a local bank (non-SG banks) will incur an expensive intermediary banking fee of around SGD35 (SGD withdrawal) or USD25 (USD withdrawal). In comparison, there are no fees on withdrawal to a Singapore bank account.
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Direct withdrawal to a local bank (non-SG banks) can take about 1 - 3 days. On the other hand, withdrawal to a Singapore bank account (during business hours) can happen within the same day (though officially it mentions 1-3 business days).

Again, if this is your first time planning to open a foreign stock account, just know that these caveats (fees) on deposit & withdrawals apply to all foreign stock brokers, not just Tiger Brokers. That's why I highly recommend opening a Singapore bank account if you are planning to invest overseas.

READ: How to withdraw funds from Tiger Brokers to a Singapore bank account

Who Should Open a Tiger Brokers Account?

As a whole, Tiger Brokers offers investors exposure to various foreign markets at an affordable package, while retaining the much-needed regulatory aspects at the same time.

As such, Tiger Brokers is suitable for:

1. Investors with some experience in the local stock market, and are looking to diversify to (either/or) the Singapore, US, Hong Kong, China, and Australia market at an affordable rate.

2. Investors that are currently using expensive local brokers to invest overseas, and are looking for a more competitive rate to reduce investing cost.

3. Investors that are ready to invest in foreign markets and want their broker to be regulated by proper authorities.

My Tiger Brokers Experience + Things to Improve

Having used Tiger Brokers for almost 2 years now, my experience with them has been largely decent.

Execution of trades is smooth and fund transfers are also easy. That aside, I’d want to focus this discussion on 3 particular parts of Tiger Brokers: the mobile app, desktop app & customer support.

(a) Tiger Trade Mobile App

For the most part, I love the mobile app from Tiger Brokers. The interface is relatively simple and intuitive, and most of the functions you need are easy to navigate and find.

Personally, even as someone that does not execute trades on mobile apps (I still prefer web/desktop), I find the design language of the mobile app better than the desktop interface.

(b) Tiger Trade Desktop App

Personally, when it comes to execution, I still prefer to stick with the desktop/web app of my brokers.

That said, at first glance, Tiger Brokers' desktop app can be a tad more daunting than its mobile counterpart. This is because the layout tends to be more informative compared to the mobile app.

In other words, new investors may get overwhelmed at first. There is some learning curve involved, but it is definitely manageable – and you’ll come to appreciate the layout once you are familiar with how everything works.

(c) Customer Support

There are 2 ways to reach out for help to Tiger Brokers, namely via their hotline (tel:+65 6950 0591) or email support ([email protected]).

I have been using the email support service for inquiries many times (personal inquiries & also in preparation for this article), and the response time has been decent. Generally, most of my emails during working hours are responded to within an hour or 2, or else they’ll be replied to on the next day.

One thing that I hope could be improved though, is how they explain/clarify questions. There are instances where when I asked about a more technical issue/jargon, and was replied with a more expanded (not simplified) explanation.

With businesses going online nowadays, I think it is more important than ever for companies to invest in improving customer support, especially in understanding customers’ perspectives and providing simplified support to inquiries.

(d) Can't access or log in to your Tiger Brokers account/platform?

Lately, several readers have reached out to me with an issue where they are unable to log in to their Tiger Brokers account/platform.

Personally, I do not have this problem but I am made aware that this is an issue with selected internet providers (eg. Unifi) that randomly blocked out certain sites for no logical reasons.

To solve this problem, simply download a VPN application on your computer and phone (eg. Proton VPN, Windscribe, and many more). Then use the VPN software to connect to another country.

Once you have done that, accessing your account shouldn't be a problem anymore.

Tiger Coins - Tiger Brokers' Built-In Reward System

Tiger Brokers has recently launched its built-in reward system - Tiger Coins, where you can collect when you complete certain tasks.

With Tiger Coins, you can redeem attractive rewards from Stock Vouchers to commission-free trades!

Tiger Brokers has just released its built-in reward system - tiger Coins. — Tiger Brokers has just released its built-in reward system - Tiger Coins.

No Money Lah’s Verdict

So here you go – my in-depth review of Tiger Brokers!

As someone looking to gain exposure in foreign markets, Tiger Brokers is truly a decent overall package that offers highly competitive fees with solid regulatory backing.

Having invested via Tiger Brokers for almost 2 years now, Tiger Brokers is my go-to broker for foreign stock investments and I have no problem recommending them to investors that is keen to gain foreign market exposures – all without paying expensive commissions.

If you have any questions on Tiger Brokers, feel free to leave a question in the comment section below! Constructive feedback are welcomed as well :)

Tiger Brokers Referral Link: Keen to open an account?

If you find this guide useful and are planning to open an account, consider clicking on the button below to use my Tiger Brokers referral link! You'll get the following when you open a new account (promo ending on 21/5/2022)!

a. Account Registration

(i) 60 Commission-Free Trades in 365 Days + 5 Commission-Free Trades for Futures in 30 days
(ii) SGD5 stock voucher
(iii) 100 Tiger Coins which can be exchanged for various rewards within the app
(vi) FREE Reuters Market Research Videos for 30 days
(v) FREE Real-time Market Data
b. Account Opening rewards

1 FREE SoFi Share (added to your account in 10 business days upon account opening)
c. Account Funded (Initial Deposit of SGD2,000 or more)

Draw and get one free stock, valued between SGD25- SGD1,200. (Tesla, Apple, Pfizer, Twitter, AMC, 10 SGX shares)

Open A Tiger Brokers Account Today!

READ: How to make your first trade on Tiger Brokers?

Disclaimer:

This post contains affiliate link(s). As always, I’d only recommend tools and financial solutions that I personally use AND/OR are interesting & provide unique value to my readers. Every article takes a long time and effort to write and when it comes to financial solutions, I’ll only invest time in writing about good and relevant products.

by Chin Yi Xuan

Rakuten Trade US Stock Trading Review: Great for investors, NOPE for traders

In the past, investing in the US stock market via Malaysia-regulated brokers has always been complex and expensive. This caused many investors to opt for overseas brokers to invest in the US market.

However, all this changed when Rakuten Trade launched their much-anticipated US stock trading service in January.

So, is it good?

Right off the bat, I'd say Rakuten Trade is the only local broker that I can actually recommend for Malaysian investors to invest in the US market. HOWEVER, I do not recommend it for active traders.

Intrigued to know why? Wonder if you should use Rakuten Trade to access the US stock market?

Let’s find out in this full review!

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

MUST-KNOW tips to buy US shares on Rakuten Trade!

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 towards the end of this article!

Highlights of Rakuten Trade US Stock Trading

Affordable fees (like finally!): Rakuten Trade now allows users to invest in the US market, with commissions from RM7 – RM100. This is the lowest yet among Malaysia-regulated platforms.
Invest in the US market easily: Rakuten Trade users get perks such as FREE live datafeed, FREE corporate action handling, and transparent conversion rate while investing in the US market.
Other markets soon: Rakuten Trade is planning to offer access to the Hong Kong market starting mid-2022!
Room for improvements: No short-selling, no margin trading, no fractional shares (yet), and a lack of order execution feature (eg. Market order) means there is room for improvements for Rakuten Trade.
In short, Rakuten Trade is a great option for investors looking to access the US market at an affordable price. That said, active traders may find the lack of certain features restrictive.

Rakuten Trade US stock trading fees

Let’s start off by addressing the elephant in the room: Is Rakuten Trade’s fee affordable?

For this, it is helpful to know that there are 3 kinds of regulated brokers in Malaysia offering access to overseas market, namely:

Traditional investment banks that offer expensive brokerage fees, usually too shy to display their fees transparently on their website. (eg. Maybank)
Dedicated brokers trying to disrupt the local brokerage scene with ‘affordable’ fees. Unfortunately, they are still far from affordable especially for investors with small capital. (eg. MIDF Invest, FSMOne)
And lastly, we have Rakuten Trade which offers a fee structure that is actually sensible for Malaysian investors to access the US stock market.

Well, just check out the comparison table below between Rakuten Trade, MIDF Invest, FSMOne, and Maybank - and decide for yourself:

Rakuten Trade vs MIDF Invest vs FSMOne vs Maybank fee comparison for US stock trading

Comparing in trading value (RM) side-by-side, this is how much platform fee you’ll be paying using each Malaysia-regulated platform to buy US shares:

Rakuten Trade vs MIDF Invest vs FSMOne vs Maybank fee comparison for US stock trading (by trade value)

As you can see, for most scenarios, Rakuten Trade offers a more flexible and affordable fee structure for investors without incurring heavy commissions.

Personally, I think Rakuten Trade’s fee structure is game-changing among local brokers. Now, investors can access the US stock market via a Malaysia-regulated broker at fraction of a cost, especially for beginner investors with small capital.

Trading experience (Features)

#1 User-friendly interface

Rakuten Trade built their US stock trading service on top of their existing trading platform. As a long-time user, I think this is good news because Rakuten Trade’s platform is really simple to use.

Either from Rakuten Trade’s website or iSpeed app, you can switch between Malaysia and US markets easily.

Rakuten Trade US Stock Trading — Rakuten Trade user interface is simple to use, be it via website or app.

#2 FREE Live Datafeed

Another plus point with Rakuten Trade is all US stock prices are quoted live (ie. Real-Time) on Rakuten Trade.

For many platforms, you’ll usually have to pay for live data, else you’ll only receive a 15-mins delayed datafeed. This is the case for MIDF Invest, another Malaysia-regulated broker that offers US stock trading.

MIDF Invest only offer delayed pricing, where you have to pay for real-time datafeed. — MIDF Invest only offers delayed pricing, where you have to pay for real-time datafeed.

Hence, it’s great to see Rakuten Trade offering free live datafeed for users. This means that the price displayed for a stock will always be at-the-moment stock price.

Rakuten Trade offers live datafeed for free

#3 Transparent Currency Conversion Rate

Through Rakuten Trade, you can invest in US stocks directly by using MYR, which will be converted to USD automatically during transactions.

This is a great convenience for Malaysian investors. Reason being, unlike using overseas brokers, you do not have to worry about finding ways to fund your broker in foreign currency.

In addition, you’ll be shown the conversion rate prior to each trade execution. The rate is updated daily, as quoted by Rakuten Trade's foreign exchange provider. As such, everything is transparent and you'll always know what to expect.

Rakuten Trade offers transparent conversion rate for US share trading

#4 No charges for corporate action

Furthermore, just like trading Malaysia stocks, Rakuten Trade handles any corporate action for your US stock investments for FREE.

In other words, you do not have to pay Rakuten Trade in order to receive dividends or execute a right issue (you may have to pay for these on some other platforms).

5 Areas of improvement & why this might not be for active traders

With the launch of US stock trading service, Rakuten Trade is set to disrupt the Malaysia brokerage scene.

That said, I think there are some areas of improvement for Rakuten Trade. Below are 5 key areas that I think Rakuten Trade should strive to improve on to serve users better:

(a) Lack basic order execution feature

One thing that I found lacking while using Rakuten Trade to trade US stocks is the missing of (basic) order execution features such as Market Order. Unfortunately, the only execution option on Rakuten Trade is Limit Order.

Market Order is an execution feature that allows investors to buy or sell shares at the immediate best price. As such, it is available in most stock trading platforms that I’ve used in the past (even Rakuten Trade’s own Bursa trading)
Limit Order allows investors to line up their orders to buy or sell shares at a specific price or better.

While this may not be a huge issue for most investors, a lack of Market Order execution may turn off some investors that prefer not to wait for their orders to be matched, or day-traders that require immediate market execution.

I’ve reached out to Rakuten Trade’s team on this matter, and it seems like there is no plan to add execution features like Market Order on their US stock trading service for time being.

(b) Limited stocks to trade

Secondly, despite offering access to the US market, Rakuten Trade does not actually offer all of the stocks listed in the US market.

As of April 2022, Rakuten Trade offers about 855+ stocks, 6 ADRs & 205+ ETFs listed on the NYSE and Nasdaq exchanges.

While you may trade the most well-known US stocks (eg. Apple, Tesla, Microsoft) and ETFs (eg. VOO, VTI) tradable on Rakuten Trade, there are some other US stocks that you may not find on Rakuten Trade.

As an example, as a REIT enthusiast, I have no access to stocks like Innovative Industrial Properties Inc (IIPR), which is a bummer.

[Note]: If you have a stock that you want to trade on Rakuten Trade, you can email your request to Rakuten Trade on the matter.

(c) Cannot store currency in USD

For time being, it is also not possible to keep our funding in USD on Rakuten Trade.

Instead, all transactions are automatically converted into their respective currency:

When you buy US shares, your capital in MYR will be automatically converted into USD.
When you sell your US shares, your sales in USD will be automatically converted back into MYR.

As I mentioned in the previous section, the transparency in conversion rate is very convenient, especially for long-term investors. But this is a big issue for active traders.

Why so?

Simply put, the loss in conversion rate whenever a buy and sell order is being executed. Let me explain:

So, let's say you are an active daytrader. You bought 5 units of Apple shares at $168.40, with an exchange rate of RM4.21050 - 1USD. Your total capital required would be:

5 units * $168.40/unit * 4.21050 = RM3,545.24 (excluded commissions for simplification)

Now, let's say Apple's share price hit $169.00 during the day. You decided to sell all 5 units of Apple shares for profit. By selling, your USD is automatically converted back to MYR at a rate of RM4.18050 - 1USD.

5 units * $169.00/unit * 4.18050 = RM3,532.52 [-RM42.72]

Instead of making a profit for selling at a higher price ($169.00), you'd actually make a loss of RM42.72 by selling. This is because there is a spread in exchange rate during currency conversion, very much like what you see when you try to exchange for a different currency in a money-changer.

Simply put, daytraders will need to cover for the loss in currency conversion for every trade taken on Rakuten Trade (by aiming for a higher Target Profit). This is not like Tiger Brokers (or most other foreign brokers), where we can hold our funds in multiple currencies.

(d) No short selling and margin trading

Short selling and trading with margin are not available on Rakuten Trade too.

Essentially, this means that the only direction that you can execute on Rakuten Trade is for a stock to go up in price. Also, you are only able to trade US stocks with the cash that you have in your Rakuten Trade account without access to margin facilities.

While this may turn off some stock traders, it shouldn’t be an issue for most long-term investors.

Regardless, having all these features will certainly help Rakuten Trade serve the needs of different retail participants in the market.

(e) No fractional shares

Rakuten Trade also does not offer fractional shares. Fractional share allows investors to buy a portion of a stock that is less than one full share. (eg. Paying $17 to buy 0.1 unit of Apple share instead of 1 full unit of share of $177)

Now, I am certainly nitpicking on this one, because many foreign brokers also do not offer fractional shares. However, I think it’d be amazing if Rakuten Trade can offer fractional shares for fellow Malaysian users.

Who should use Rakuten Trade to trade US stocks?

While imperfect, Rakuten Trade has offered something that all local brokers failed to do: Access to the US stock market at a truly affordable fee via a Malaysia-regulated platform.

In my opinion, Rakuten Trade is a great option if you are:

Seeking for a Malaysia-regulated broker to invest in the US stock market.
Looking to access the US market at a truly affordable fee.
Looking for a user-friendly platform to invest in the US stock market.

At the same time, it may not suit people that are:

Active day traders that require market execution (instead of limit order) or more advanced execution features.
Traders that need access to margin and the ability to short sell stocks.
Investors or traders that want exposure to more exotic stocks which are not within Rakuten Trade’s list of tradable stocks.

In short, unless you are an active trader, chances are you’ll like what Rakuten Trade has to offer.

Rakuten Trade Referral Link for New Users

If you are keen to open a Rakuten Trade account, consider using my referral link 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 1^st 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!

Trading perks on Rakuten Trade

As a Rakuten Trade user, there are many perks offered on top of a user-friendly experience:

#1 Use RT points to offset brokerage fee:

RT points are points rewarded to you when you open an account or execute trades on Rakuten Trade.

With these RT points, you can offset your brokerage fee.

#2 Free brokerage fee on US trades campaign:

Until 28/2/2022, Rakuten Trade users that execute a Buy trade on Bursa Malaysia will receive a brokerage rebate in the form of RT points while buying US stocks, limited to a maximum of 3 rebates.

Click HERE for more info on the campaign.

Summary: Is Rakuten Trade a good platform to invest in the US market?

As a whole, Rakuten Trade has offered Malaysians a game-changing manner to invest in the US stock market via a locally-regulated broker.

An affordable fee structure, user-friendly interface, and transparent conversion rate should convince many investors to forgo the need to open a foreign brokerage account (and experience all the hassle for funding & withdrawals).

Unless you are an active day trader or you require access to less familiar stocks, I am sure you’ll be happy with what Rakuten Trade has to offer.

If you are keen to open a Rakuten Trade account, consider using my referral link 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 1^st 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!

How to sign up to trade US stocks via Rakuten Trade

(A) How to sign up for US stock trading if you are new to Rakuten Trade:

Step 1: Sign up for Cash upfront account

If you are new, you’ll have to sign up for a Rakuten Trade Cash Upfront account.

Consider using my Rakuten Trade referral link by clicking the button below, and you’ll get 500RT points (RM5) which can be used to offset your brokerage fee!

Open a Rakuten Trade Account Today!

If you need help, click HERE for my step-by-step guide to open a Rakuten Trade account.

Step 2: Get your Rakuten Trade account within 2 working hours

Your Rakuten Trade account will be activated within 2 working hours.

Step 3: Log in to your Rakuten Trade account and apply for Foreign Stock Trading

Log in to your Rakuten Trade account either via the website or Rakuten Trade’s iSpeed app. You can locate the Foreign Trading activation button easily within the Rakuten Trade platform.

Step 4: Submit your application for US stock trading

Spend 1 minute to share some info required to trade the US stock market. Then, submit your application.

Step 5: Your Foreign Trading account will be enabled within 2-3 working days

(B) How to sign up for foreign trading if you are an existing Rakuten Trade user:

If you are an existing Rakuten Trade user, just follow Step 3 to Step 5 above and you’ll be good to go!

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

From 7^th March – 28^th 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!

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 US trade.

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.

by Chin Yi Xuan

HOW TO OPEN A cimb fastsaver sg ACCOUNT IN MALAYSIA

Guide: How to open a CIMB Singapore account for Malaysians

In this guide, I want to share how you can open a Singapore bank account online, without visiting physical branches in Malaysia or Singapore. In particular, this guide is about opening a CIMB Singapore FastSaver account online.

So, let’s get straight into the topic!

Highlights of CIMB SG FastSaver Account:

The only way for Malaysians to open a Singapore bank account through fully online application. A Shariah-compliant version to the conventional FastSaver account is also available.
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Minimum initial deposit of SGD1,000
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No minimum balance needed
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No monthly fees

Why open a Singapore Bank Account?

There are many reasons why one would have access to a Singapore bank account:

It could be that your work requires you to receive or transact via SGD.
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Most international stock brokers accept deposits/funding via SGD, and not Malaysian Ringgit (MYR). While you can still fund your broker via foreign telegraphic transfer (FTT) on your local bank account, it incurs expensive FX conversion and intermediary banking fees.

Documents Needed & Expectation

To start, it is best for you to have the following details with you:

Your Malaysia IC
Your Tax Identification Number (TIN)
A CIMB Malaysia account
SGD1,000 worth of MYR

If everything is smooth, the whole registration process will take about 2 weeks. Hence, be patient and please note that this is not something you can settle in a day.

Opening a CIMB Malaysia Account

To open a CIMB SG FastSaver account, you will first need an existing CIMB Malaysia account.

If you already have a CIMB Malaysia account, skip this part and move on to the next section.

Otherwise, you can open a CIMB Savings account easily online. Check out my step-by-step guide to register for a CIMB Savings Account below.

READ: Step-by-step guide to open a CIMB Savings Account (without going to bank!)

[Update 17/2/2022: It seems like CIMB has reactivated the online account opening of CIMB Octosavers Account-i for non-CIMB customers (it was paused prior to this). Feel free to proceed and open your account online!]

Opening a CIMB SG FastSaver Account

Step #1: Register for your account online

i. Check out the details of CIMB FastSaver account. Once you are done, proceed to complete the application form online.

How to open a Singapore bank account in Malaysia — Use your Malaysia NRIC to open a CIMB SG FastSaver Account

ii. During the registration process, you are required to:

Upload a copy of your IC.
Provide your Tax Identification Number (TIN) if you are a taxpayer (ie. You pay tax to LHDN).
Upload your e-signature.

CIMB SG FastSaver Registration — CIMB FastSaver: You are required to upload your IC copy and e-signature.

iii. Once you are done, you’ll receive an email containing (1) a password-protected PDF, and (2) the next action steps.

CIMB FastSaver Registration — CIMB FastSaver: You'll receive an email with a PDF file & the next action steps.

At the same time, you’ll also receive an SMS from CIMB SG containing the password to unlock the PDF file. Once you open the PDF, you’ll find details of your account number.

Step #2: Link your Singapore account

i. Proceed to link your CIMB SG FastSaver account to your CIMB Clicks Malaysia. Once you log in to CIMB Clicks, under ‘Services’, select ‘Singapore Account’ under the Account Linking section.

CIMB FastSaver Account linking — Initiate account linking via CIMB Clicks.

ii. Next, key in your IC number. (Note: Please remove the dash '-' while keying in your IC)

iii. Upon submission of your account linking request, it’ll take about 1-2 working days to get approved. To check the approval status, click ‘Singapore Account’.

CIMB FastSaver linking approved — CIMB FastSaver account linking approved

Note: If you check your linking request it shows you the input screen again (like what you saw in Step 2ii), this means your application has been rejected.

In this case, contact the customer service of CIMB Malaysia and let them know that you need to have this account linked in order to perform an ASEAN Transfer for e-KYC verification requested by CIMB SG.

Step #3: Perform an initial transfer

Once your account linking is approved in Step 2, move on to perform an initial transfer of SGD1,000 via your CIMB Malaysia account.

For this step, it is also possible for you to perform a small initial transfer of, say, SGD10 via your CIMB Malaysia account, and the rest (SGD990) via platforms like Wise (details HERE). This will help you save on the FX rates.

[Update April 2022: Some readers have reached out to me as CIMB SG states that the initial transfer of SGD1,000 needs to come directly from CIMB MY. As per my update, you can certainly do a small initial transfer (eg. SGD10) via CIMB MY, and the rest via Wise to save on FX rates.

The initial transfer (regardless of amount) acts as a standard Know-Your-Customer (KYC) process - so as long as your 1st transfer is from CIMB MY, you can still fund the rest via Wise.]

CIMB FastSaver Transfer SGD1000 — Transfer an initial deposit of SGD1,000 to your CIMB FastSaver account.

Once you are done, you can view your CIMB SG account balance by clicking the Singapore flag icon.

Click on the SG flag icon to view your account details and balance.

Step #4: Application verification

Once you have done your initial deposit in Step #3, the next thing to do is to wait for verification on CIMB SG's end. Meaning, you'll have to:

Expect a call from CIMB SG (ie. +65 number) to verify your identity and the purpose of opening an account. They'll ask questions like your IC number and how are you planning to use the CIMB SG account.
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It took about 3 business days for me to receive this verification call from the day I performed my initial deposit in Step #3.
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After the call, you'll have to wait for CIMB SG's end to process your verification. This wait is longer as it took about 7 business days for me to receive my (a) account activation email & (b) SMS for my CIMB SG activation code (more on this in Step #5).

CIMB SG Account Activation Email — Account activation email from CIMB SG

CIMB Clicks SG first time login activation code

All in all, be prepared that Step #4 will take about 10 business days of waiting. During this period, I got several email reminders from CIMB SG that I have not completed my CIMB SG application, claiming that (1) I have yet to transfer my initial deposit (I have done so), or (2) I did not provide valid documents for account opening (I did).

If you have done everything mentioned in the email, just ignore the email and wait for the verification call from CIMB SG. If the wait is too long be sure to call or email CIMB SG for help.

cimb sg application reminder — CIMB SG application reminder email.

Step #5: CIMB SG First-time login

Finally, now that your CIMB FastSaver account is activated, it is time to log in to CIMB SG to initiate your first-time login. In Step #4, you should have received an SMS containing an activation code for CIMB Clicks (SG). Now:

Go to CIMB Clicks SG. Click 'First Time Login'.
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Create your username & password for CIMB Clicks SG, and key in the activation code that you got from Step #4 here.
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CIMB Clicks SG - Create username & password

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Once you are done, download the CIMB Clicks SG app to activate your Digital Token. Setting this up is important so you can proceed with future transactions.

OKAY, now you have a fully functional Singapore bank account! The CIMB SG Clicks interface has a really outdated design but it gets the job done for any simple transfers and transactions.

CIMB SG has a poor interface, but it gets the job done.

Withdrawing funds from CIMB SG to CIMB Malaysia

Withdrawing funds from CIMB SG back to your CIMB Malaysia account is easy.

Step 1: Link your CIMB Malaysia account with CIMB SG

Step 2: Wait about 3 working days for the linking to be approved.

Step 3: Head over to 'CIMB Malaysia Transfer' > 'To My CIMB A/C' and proceed with your withdrawal.

Wise: A cheaper way to add funds to your CIMB SG Account (+ Referral Link!)

The initial transfer (regardless of amount) acts as a standard Know-Your-Customer (KYC) process - so as long as your 1st transfer is from CIMB MY, you can still fund the rest via Wise.]

Now that you have opened your CIMB SG account, it is likely you'll need to keep transferring funds to this account in the near future. For our initial deposit, we are required to fund our CIMB SG account via CIMB Malaysia, which incurs a more expensive FX conversion rate.

For better savings, I highly recommend that you do a small initial transfer (eg. SGD10) via CIMB MY, and the rest (SGD990) via Wise to save on FX rates.

For all future fundings, you can go through platforms like Wise to get a cheaper FX rate. Use my Wise referral link and get a fee-free transfer of up to 500 GBP (~RM2,900) in your first transfer!!

Open a Wise account and get a free transfer today!

FX Rate Comparison: CIMB RM3,148.50 = SGD1,000 vs Wise RM3122.14 = SGD1,000

CIMB MYR to SGD FX Rate — CIMB MYR to SGD more expensive FX Rate

Wise MYR to SGD FX Conversion — Wise MYR to SGD cheaper FX Conversion

Rate Comparison: Check out the rates between Wise and our local banks below:

The true cost of sending MYR to SGD

Open a Wise account and get a free transfer today!

How to use your Singapore bank account to fund your foreign stock broker/accounts

One major benefit of having a Singapore bank account is many foreign brokers accept the SGD currency compared to MYR. In other words, you can save on the expensive FX and intermediary banking fees by funding your broker via a Singapore bank account.

Check out this guide on how I fund (and withdraw) my go-to foreign stock broker, Tiger Brokers and Singapore robo-advisor Syfe with my CIMB SG account!

ALSO READ: Tiger Brokers review

ALSO READ: Syfe Robo-Advisor Review

No Money Lah's Verdict

So here you have it - a detailed guide on how to open a Singapore bank account for Malaysians!

CIMB FastSaver is the easiest way for you to open a Singapore bank account at the moment, and I highly recommend opening an account especially if you look to fund your overseas stock brokerage account.

Before you go, remember to use my Wise referral link and get a fee-free transfer of up to 500 GBP (~RM2,900) in your first transfer! As a disclaimer, No Money Lah will get a small referral reward if you use my referral link, which will help the blog and keep producing useful content like this one!

If you find this guide useful, please share it with your friends & family too!

Disclaimer:

This article is accurate as of the time of writing. Please let me know if you notice any changes to the process and I'll update this guide accordingly.

This article also contains referral link that will reward No Money Lah on every successful referral. This will help sustain the blog so I can keep producing quality guides and content like this.

by Chin Yi Xuan

How to open a Malaysia savings account online

CIMB Octosavers Account-i: Open a Malaysia savings account, 100% online!

Opening a savings account in Malaysia has always been a troublesome experience. At some point, you’ll have to visit the bank to activate your account and collect your debit card.

Luckily, that’s not the case anymore with CIMB OctoSavers Account-i, where we finally get a 100% digital online account-opening experience.

In this quick guide, let’s go through all you need to know about CIMB OctoSavers Account-i, and how to open an account online!

Highlights of CIMB Octosavers Account-i

CIMB OctoSavers Account-i was launched by CIMB Bank Bhd and CIMB Islamic Bank Bhd in August 2021. It is the bank's first all-digital Islamic savings account that comes together with the new CIMB OctoDebit MasterCard.

In other words, with CIMB OctoSavers Account-i, you do not need to visit a physical bank branch to open a savings account at all!

Fully digital: Account opening & onboarding process of Octosavers Account-i are done entirely online, while the debit card will be mailed to customers.
Annual fee waiver: No annual fees for Debit Card
Eligibility: Malaysians 18-year-old and above with MyKad can open an account
Protected by PIDM up to RM250,000
Profit rates of 0.30% per annum for account balances above RM3,000
Shariah-compliant

How to open a CIMB Octosavers Account-i for new CIMB customers:

Step 1: Download the CIMB Apply app HERE

Step 2: Select ‘Open a new account and fill in your contact details

How to open a Malaysia savings account online via CIMB Octosavers Account-i — Source: CIMB

Step 3: Fill in the account opening application form

For identification purposes, you’ll be required to scan your IC and do a simple facial recognition process.

Aside from that, you need to provide personal details (eg. Address, employment details), which is a normal procedure for the application of most financial services.

Step 4: Transfer a minimum initial deposit of RM20

Please note that this RM20 transfer needs to be from another bank account under your own name.

Step 5: Create your CIMB Clicks login credentials

CIMB Clicks is CIMB’s platform where you activate your OctoDebit Mastercard and manage your transactions to and from your savings account.

In this final step, you’ll need to create things such as your CIMB Clicks user ID and password.

Step 6: Successful account creation!

Once you have completed all the steps, you will have your CIMB OctoSavers account created. You will receive an SMS upon successful application.

Within 7 – 14 working days, your Octo Debit Mastercard will also be mailed to the mailing address that you filled in during the application process.

Until then, you will not be able to operate your new account as you’ll need to activate your debit card first.

How to activate Octo Debit Mastercard

Once you receive your Octo Debit Mastercard, it is time to activate your Debit Card.

Step 1: Firstly, you must sign on the signature panel at the back of the Octo Debit Card
Step 2: Download the CIMB Clicks app
Step 3: Log in to CIMB Clicks using your Clicks ID and password
Step 4: Click ‘Yes, activate now’ when you are prompted to activate your debit card. Or under ‘Current/Savings, click ‘Activate Card’
Step 5: Enter the 16-digit number of the Octo Debit card
Step 6: Create your 6-digit Debit Card PIN and re-enter your 6-digit Debit Card PIN.
Step 7: Request and enter the TAC code sent to your mobile number via SMS

Once you are done with the steps above, you can now use your CIMB Octosavers Account-i for online transactions!

Link your Octo Debit MasterCard to savings account for ATM cash withdrawals

There could be times where you will need to withdraw cash from ATM. Before you do so, be sure to link your debit card to your CIMB Octosavers Account-i:

Step 1: Log in to CIMB Clicks
Step 2: Go to ‘Services’
Step 3: Select ‘Account Linking’. Under ‘Savings/Current’, select ‘Link Account’
Step 4: Select your CIMB Octosavers Account-i account and click the ‘Submit’ button

Link your Octo debit card to your savings account via CIMB Clicks

Truly 100% online account-opening experience for CIMB SG

In the past, for Malaysians to open a Singapore bank account via CIMB SG (the easiest way), you’d have to first have a CIMB Malaysia account. If not, you’ll have to visit a physical CIMB branch to activate your CIMB Malaysia account and collect your debit card.

Now, with the ability to open a CIMB Malaysia savings account online, you can complete all the processes at your own convenience at home!

READ: Step-by-step guide on how to open a Singapore bank account -100% online.

No Money Lah’s Verdict

Having to open a savings account online is a much-needed innovation in the financial services sector.

As such, I am glad to see CIMB stepping up its game to offer users a fully digital online account opening experience. I certainly hope to see other banks follow suit to offer a more digital experience within their services.

Meanwhile, do let me know your experience opening a CIMB Octosavers Account-i!

by Chin Yi Xuan

Guide: How to Buy Your First Overseas Share via Tiger Brokers

In this article, I am going to guide you step-by-step on how to navigate and buy your first overseas shares, be it from the US, Singapore, or Hong Kong stock market.

For this, I am going to demonstrate the process using Tiger Brokers, a broker that I am personally using to invest in the overseas market (SG, US, HK etc). If you haven't done it yet, definitely check out my Tiger Brokers review for more info on fees, user experience, and how to open and fund your account.

Planning to open an account? Click the button below to use my Tiger Brokers referral link, and get the following when you open a new account (promo ending on 21/5/2022)!

a. Account Registration
(i) 60 Commission-Free Trades in 365 Days + 5 Commission-Free Trades for Futures in 30 days
(ii) SGD5 stock voucher
(iii) 100 Tiger Coins which can be exchanged for various rewards within the app
(vi) FREE Reuters Market Research Videos for 30 days
(v) FREE Real-time Market Data
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b. Account Opening rewards
1 FREE SoFi Share (added to your account in 10 business days upon account opening)
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c. Account Funded (Initial Deposit of SGD2,000 or more)

Draw and get one free stock, valued between SGD25- SGD1,200. (Tesla, Apple, Pfizer, Twitter, AMC, 10 SGX shares)

Open A Tiger Brokers Account Today!

Alright, are you ready?

Let’s get started:

Fund your Tiger Brokers Account

Before we proceed, I'd assume that you have already funded your Tiger Brokers account.

If you have funded your account, proceed to the next section.

If not, check out my guide on how to fund your Tiger Brokers account without paying expensive intermediary banking fees (~SGD30/USD20).

Step-by-Step Guide to Buy a Stock on Tiger Brokers (US, Singapore & Hong Kong Stocks)

Read this before proceeding:

For this guide, I’ll be using the desktop app (Tiger Trade) from Tiger Brokers. Call me old school or whatever, but I feel things like investing money in a stock deserve a proper execution on desktop.

You can download and install the Tiger Trade desktop app HERE.

For the sake of simplicity, I WILL NOT go over trading on margin/leverage and shorting shares in this guide. Please read them up on your own if you are into these. For most people, I’d recommend investing with only the cash you have in your brokerage account.

Step 1: Log in to your Tiger Trade desktop app.

Under ‘Assets’, proceed to check out your fund balance so you know how much you have to invest.

Your fund balance should be reflected after successful funding. If you have not funded your Tiger Brokers account, click HERE for a comprehensive funding guide.
If you fund your account with SGD, your fund balance will be reflected in SGD. If you fund your account with USD, that fund will be reflected under USD.

Step 2: Under the search bar, search for the stock that you want to invest in.

As an example, search for ‘Apple’ if you want to invest in Apple.

Step 3: Click ‘Buy/Long’

Step 3 (i): Familiarize Yourself with the Buy/Sell Interface in Tiger Brokers

1: Current market value of the share.
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2: Depth of market – shows you the order flow from buyers and sellers. (will write about how it works soon)
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3: Order direction – if you are buying a stock, then retain the direction at ‘Buy’.
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4: Order types – There 4 order types: Limit order, Market order, Stop-Loss Order & Stop Limit order. (more below)
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5: Decide the Quantity/Size of your order – Generally, a Full-size position implies that you are buying at a full unit of a share. For most stocks, a full unit of a share could mean 1 unit or 100 units of shares, which is normally the minimum size you have to buy.
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There are some stocks that allow investors to buy at ½ and even ¼ of units, but generally, I’d not recommend it since the market doesn’t usually transact at odd units like these.
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6i: Validity Period – If you are putting a limit order on a US or Hong Kong stock, you get to decide how long the order gets to stay in the market.

As an example, if Apple is at $110.44 now you want to buy an Apple share at a lower price of $110.25, you can either set the order validity at ‘Day’ where the $110.25 order will be deleted IF the order is not fulfilled by the end of market close of that day.

If you set the order validity at ‘GTC’ (Good-Till-Cancel) instead, your $110.25 order will stay valid either until your order is fulfilled, OR after 90 days, whichever comes first.
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6ii: Fill outside RTH hour – RTH stands for Regular Trading Hours. If you allow an order to be filled outside RTH hour, this means that your order can be fulfilled before market opens. For most people, just keep the setting at ‘Not Allowed’ as liquidity can be low before RTH hour, potentially leading to high volatility.
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7: After you decide your order types and position size, click ‘Submit’. You’ll be required to key in your trade password and your order should go into the system after that.
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Step 4: Check Your Orders.

Limit order: If you are putting in a limit order, your order will go under the ‘Pending’ section and will stay submitted until it is fulfilled by the market or canceled.

Market Order: If you are buying under market order, your order will very likely be fulfilled almost instantly at market price, and will be recorded under the ‘Filled’ section. Check the ‘Details’ tab to find out the fees involved in your stock transaction.

And that’s it! You are done with your first overseas stock purchase!

For selling, the process is pretty much the same – except you click ‘Sell’ instead of ‘Buy’.

Order Types + Setting Stop Loss in Tiger Brokers

There are 4 order types in Tiger Brokers, namely, Limit Order, Market Order, Stop Loss Order, and Stop Limit Order.

As shown in the table below, Limit Order and Market Order are available to all markets. On the other hand, Stop Loss and Stop Limit orders are only available in the US, Hong Kong, and China market.

What do all these orders mean, exactly?

Tiger Brokers Order Types — Source: Tiger Brokers official site.

a. Market Order:

A market order is the most straightforward and simple to understand. Essentially, buying a share at market order means you are buying it at the current market price.
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Unless there is any liquidity issue, a market order would normally be fulfilled almost instantly.
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b. Limit Order:

A limit order is also quite simple. Simply put, buying a share at a limit order means you are planning to enter at a lower price than the market price.
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As an example, if Apple costs $110.44/share and you only plan to invest when the price drops to $110.25/share, then you can set a limit order at $110.25. The downside of a limit order is that your order at $110.25 may never get fulfilled until the market price goes in your favor.
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c. Setting Stop Loss via Stop Order (Stop-Loss Order) or Stop Limit Order

If you are day-trading short term in the US, Hong Kong and China stock market, there is an option for you to set a stop loss to your trades.

- c (i). Stop-Loss Order (or Stop order)

Stop-loss order is one way you can set stop loss to your trades. In essence, a stop-loss order will help protect your downside by triggering an opposite order of your trade at the best market price once it hits a certain price level.

As an example, let’s say I went into a buy (or long) position at $100/share and set a sell stop-loss order at $90. Suddenly, the market price gapped down to $86 and triggered my stop-loss order.

Since $86 is the best market price after my $90 Stop-loss level is triggered, then the system will stop me out at $86/share.

The downside of Stop-Loss order is if the price goes back up to $89 after I am stopped at $86, I’m actually being stopped at a less ideal price level.

In short, Stop-Loss order ensures that you are being stopped out, BUT it does not ensure that you’ll get the best price while you are being stopped.

How a Stop-Loss Order work in real life.

- c (ii). Stop-Limit Order

A stop-limit order helps in mitigating the issue brought up by a stop-loss order. How exactly does it work?

When you set a stop-limit order, you are needed to set 2 things: a stop-loss price (just like above) AND a stop-limit order.

Using the example above, if you set your stop-loss price similarly at $90, AND also a stop-limit order at $87, then your stop-loss will only be triggered when the price breaches below $90, and is within the range of $87 and above (eg. $88).

Using a stop-limit order ensures that you are stopped at a price that is equal or better than your stop limit price ($87 - $90).

The downside is, if the price breaches $90 and sits at a market price of $86 and keeps going lower ($85, $84…), your stop-limit order WILL NOT be triggered since it is a worse price than $87.

Simply put, a Stop-Limit order ensures that you are stopped at a better price, but it does not guarantee that it’ll be fulfilled.

Hopefully this explains how each order types work and feel free to let me know if you have any questions!

Can I Buy a Stock using a Different Currency?

Say that you fund your Tiger Brokers account with SGD, can you still invest in US stocks (or vice versa)?

Yes, you can.

This is because Tiger Brokers offer a built-in loaning facility that allows you to invest in shares that are different from your funded currency.

This is how it works:

Step 1: If you fund your Tiger Brokers account with SGD and you want to invest in a stock denominated in USD, it will inform you that this particular transaction will incur a loan with daily interest.

Step 2: Suppose you went ahead with the transaction, and want to settle your loan right away so you’ll not be charged interest. Head over to 'Assets' > 'Cash' and you will see an option for ‘Repayment’. Click on the ‘Repayment’ button to proceed.

Step 3: A window will appear explaining the exchange rate and how much will be converted out of your main funded currency. In this case, I am repaying my USD transaction with SGD, hence the details below. Just click on the ‘Repayment’ button and you are done.

Is Tiger Brokers’ currency exchange facility a good idea for investors?

The question is, should you use this function in Tiger Brokers? Is the currency exchange rate worth it?

Let’s address the first question: Should you use this facility in Tiger Brokers?

If you are only using Tiger Brokers to invest in a single market (eg. the US stock market), then you probably should fund your account with just USD. Thus, this facility may not be super useful to you. However, if you are investing in multiple markets like I do (eg. SG and US market), then Tiger Brokers’ currency exchange facility may come in handy when you are short of a particular currency while investing.

For example, if I have 1000 SGD and 200 USD deposited in my Tiger Brokers account. I can exchange my 1000 SGD into USD if I ever need more capital to invest in USD-denominated stocks.

In terms of the exchange rates, I find that if you are in need of a quick currency change to invest in stocks, the difference in cost is negligible:

Scenario A: I fund my account in USD to invest in the US market. Here’s the rate of my transfer:

Maybank FTT -> Tiger Brokers (USD)

RM4.22 -> 1 USD (equivalent to RM3.098 (exchange rate)* -> 0.7342 USD)

Scenario B: I have SGD deposited in Tiger Brokers via Maybank, and now I need some USD to invest. So, I opt to use Tiger Brokers Exchange Facility to exchange my existing SGD to USD:

Maybank FTT -> Tiger Brokers (SGD) -> Tiger Brokers Exchange Facility (USD)

RM3.099 (exchange cost)* -> 1 SGD -> 0.7342 USD

*Maybank forex rate as of the time of writing.

In short, for me, I do not mind doing my currency exchange within Tiger Brokers if I am in need of a quick exchange.

Market Open Hours (GMT +8)

· Singapore Stock Exchange: 9am – 5pm (Mid-Day Break 12pm – 1pm)

· US Stock Exchange: 9:30pm – 4am (Daylight-Saving), 10:30pm – 5am (Non-Daylight Saving)

· Hong Kong Stock Exchange: 9am – 4pm (Mid-Day Break 12pm – 1pm)

No Money Lah’s Verdict

So here you go: a comprehensive Tiger Brokers’ step-by-step guide for you to invest in your first overseas stock, be it the US, Singapore, or Hong Kong stock market!

Hopefully this guide has been useful in helping you to make your first overseas stock investment!

Have any questions? Just purchased your first stock? Feel free to let me know in the comment section below so we can address your question or celebrate your progress together!

Tiger Brokers Referral Link: Keen to open an account?

If you find this guide useful and are planning to open an account, consider clicking on the button below to use my Tiger Brokers referral link!

You'll get the following when you open a new account (promo ending on 21/5/2022)!

a. Account Registration
(i) 60 Commission-Free Trades in 365 Days + 5 Commission-Free Trades for Futures in 30 days
(ii) SGD5 stock voucher
(iii) 100 Tiger Coins which can be exchanged for various rewards within the app
(vi) FREE Reuters Market Research Videos for 30 days
(v) FREE Real-time Market Data
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b. Account Opening rewards
1 FREE SoFi Share (added to your account in 10 business days upon account opening)
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c. Account Funded (Initial Deposit of SGD2,000 or more)

Draw and get one free stock, valued between SGD25- SGD1,200. (Tesla, Apple, Pfizer, Twitter, AMC, 10 SGX shares)

Open A Tiger Brokers Account Today!

READ MORE: Tiger Brokers Review

Disclaimer:

by Chin Yi Xuan

Rakuten Trade Long-Term Review: 5 Reasons Why it is my Go-To Stock Broker!

Rakuten Trade has been my go-to broker to invest in the stock market for more than 3 years now.

As a long-term user, I have both good and to-be-improved experiences with the platform. In this Rakuten Trade review, let’s learn more about this platform and whether they are the stock investing platform for you!

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

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 towards the end of this article!

How I use Rakuten Trade

Personally, I use Rakuten Trade mainly for long-term investing. Meaning, I invest in stocks and hold them for years UNLESS there is a shift in business nature or fundamentals.

This also means that:

I do not actively trade in and out of the market.
Also, I certainly do not need to be on the screen/app at 9am when the market opens in an attempt to get the ‘best’ stock entry price
Plus, I definitely do not participate when the market is crazy over any particular stock – I invest in what I know best instead of following the herd.

Putting this ahead is CRUCIAL because this review is purely based on my personal experience and usage. Depending on your participation in the market, you may find your experience differs from mine.

That said, if you are in for investing in quality companies for the long-term, I think this review will give you solid insights on Rakuten Trade as a stock investing platform.

Rakuten Trade Feature Highlights

Rakuten Trade is a joint venture between Malaysia’s Kenanga Investment Bank Bhd. and Japan’s Rakuten Securities Inc. Established in 2017, Rakuten Trade is under the regulation of the Securities Commission (SC) of Malaysia and holds the Capital Markets Services License (CMSL) to deal with listed securities and provide investment advice
Rakuten Trade is the only broker in Malaysia to offer a full online investing experience as of the time of this writing. From registration to funding/withdrawal, every process is done online at our convenience. No physical forms, no visiting branches (p.s. it’s year 2022 now, not 2000) – stay at home and be safe!
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Plus, get your account approved within 3 days (sometimes earlier). This is much more efficient compared to certain brokers that require weeks to approve an account.
Rakuten Trade offers one of the most competitive commission rates in Malaysia. In other words, Rakuten Trade is a fee-friendly option especially for new investors that are starting with a small capital – more below.
Launched in January 2022, Rakuten Trade now offers users access to the US stock market at a highly affordable commission!

Everything from account-opening to trading can be executed online via Rakuten Trade.

5 things I like about Rakuten Trade

#1 Competitive Fees for Malaysia & US Stock Market

Rakuten Trade offers one of the most competitive rates in the local brokerage scene, be it for Malaysia or the US stock market.

Of all, Rakuten Trade offers the lowest commission rate (RM7) for stock transactions below RM1,000. In my opinion, this is amazing especially for new investors that are getting a taste of the stock market.

Personally, this is a solid deal even for me because very often I’ll add on less than RM1,000 to my stock portfolio on a monthly basis.

However, while looking for a broker, there are more things to consider than commissions alone. Let’s explore the additional value-added strengths that I like about Rakuten Trade in the next few points below.

Local Brokers' Commission Fees Comparison for **Malaysia stock market**

RELATED READ: Rakuten US Stock Trading Review

#2 Nominee CDS Account = No Manual Paperwork Needed (+ FREE CDS Fee!)

Everyone has to open a Central Depository System (CDS) account while applying for a stock investing account. Most brokers make it part of the whole registration process already, so don’t worry too much.

What you need to know though, is that there are 2 types of CDS accounts: Nominee and Direct CDS account.

In this case, Rakuten Trade is a Nominee CDS. The good things that come with this are:

No need to manage the paperwork on corporate actions like rights issue and dividend reinvestment program (DRP). Everything about corporate action is handled by Rakuten Trade on behalf of the users, which is awesome because my time is too precious for (more) paperwork.
While other brokers that offer Nominee CDS account charges a fee to handle corporate action for users, BUT specifically for Rakuten Trade, there are no additional charges on handling corporate action – yes, FREE.
FREE CDS account opening: Typically, there is an RM10 fee imposed on opening a CDS account. However, Rakuten Trade has been waiving this fee for users too!

All being said, many have the concern that under a Nominee CDS, their shares ownership is placed under a trustee instead of directly under their own name (this is done to avoid fraud).

For me, I think this is not a matter to be concerned with because (1) Rakuten Trade is regulated heavily by the SC and (2) in the event IF the company does go bankrupt, our capital is protected as it is placed with a trustee instead of with Rakuten Trade.

READ: Direct and Nominee CDS, what’s the difference and how to choose?

#3 Clean, Functional & User-Friendly Platform

Being a fully online broker, Rakuten Trade provides investors with a modern and clean trading experience.

Personally, I have used several brokers in the past, and have seen the interface of other brokers. There are 2 problems with many of these brokers:

Obsolete design/complicated user interface like they are from the early 2000s. Beginners are overwhelmed with poor layouts and simply can’t find what they want to do easily.
Non-functional – certain platforms are barebone (different from minimalist) without value-added features like stock screeners and so on.

In this regard, Rakuten Trade struck a decent balance between user experience and functionality. Its web platform is simple to navigate with solid value-added features like stock screeners and price alerts.

Coming from using several brokers in the past, I am sure new users will appreciate and are able to familiarize themselves with Rakuten Trade with little to no issue.

Modern & Simple: Rakuten Trade web platform

READ: How to buy your first stock on Rakuten Trade

#4 Quick Response from Customer Service

Any company that tries to go digital today MUST have a proper online customer service in place.

Generally, there are 3 ways a user can reach out for help: Facebook Chat, Email ([email protected]), and a Hotline. With the exception of Hotline, I have reached out to Rakuten Trade with questions on several occasions in the past.

Generally, the response from the Customer Service team is quick and I usually get my questions addressed.

Just me randomly testing Rakuten Trade's customer service. The response has been quick. (p.s. most local brokers do not have an automatic Take Profit & Stop Loss function too)

#5 Solid Value Adding Features (eg. Powerful Stock Screener, earn interest on idle cash)

There are several features in Rakuten Trade that make investing a fruitful process for users.

Namely, Rakuten Trade’s built-in stock screener is one of the most comprehensive FREE screeners around. Powered by Thomson Reuters, there are many parameters that you can set up to filter for stocks.

For new investors, this is certainly an awesome feature to have to reduce the time needed to research for stocks.

Rakuten Trade Stock Screener comes with several presets to get beginners started.

READ: How to build your own reliable Bursa stock screener.

And do you know with Rakuten Trade, you actually earn a 1.00% annual interest on the cash balance in your account? I was not aware of this when I first use Rakuten Trade and was pleasantly surprised when I receive interest on my cash balance.

Earn interest on the idle cash that you deposit in Rakuten Trade while waiting for your next investment opportunity. (Source: Rakuten Trade Malaysia)

READ: 4 Underrated Features on Rakuten Trade.

Should You Open a Rakuten Trade Account? (+ How to open one?)

All in all, Rakuten Trade has been my go-to broker while investing in the stock market, and I have no problem recommending Rakuten Trade to:

New investors with small capital that are looking to get started in the Malaysia & US stock market thanks to Rakuten Trade’s beginner-friendly commission.
Investors that are looking to save time on paperwork and skip the handling fees for corporate action such as dividends and rights issue.
Investors that are looking to open an account and manage their stock portfolio fully online during this pandemic.
Investors that are looking for a modern, user-friendly stock trading platform without compromising on features.

If you fall into any one (or more) of these categories, check out my step-by-step guide to open your Rakuten Trade account online!

Rakuten Trade Referral Link for New Users

If you are keen to open a Rakuten Trade account, consider using my referral link 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 1^st 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!

How can you use these RT points?

These RT points are amazing, as they can be converted into BIG Points or Boost Coins, which are redeemable for rewards. In addition, Rakuten Trade often runs campaigns with companies such as HelloGold and Tokenize so you can convert your RT points into gold or cryptocurrencies!

p.s. Click HERE for the full T&C of your account opening reward.

Select 'NoMoneyLah' under 'Educator' to get your RT points! — Make sure to select 'NoMoneyLah' under 'Educator' during your account opening process to get your RT points!

LATEST: Use your RT Points as Brokerage Fee Rebate!

Recently, Rakuten Trade has released an exciting new feature: now you can convert your RT points as a discount to your brokerage fee!

In my opinion, this is the most practical use of the RT points for Rakuten Trade users. This is how it works:

1RT Point = RM0.01 (ie. 100 RT points = RM1 Brokerage Fee.)

Now you can use your RT points as rebates for your brokerage fees.
Opt-in for brokerage rebate when you buy or sell shares on Rakuten Trade.
Use RT points to offset brokerage fee
Your brokerage rebate will be credited to your account by end of the trading day (subject to your RT Point balance). So let's say you have 700 RT points (RM7), and the brokerage fee that you paid for a transaction is RM9. By the end of the trading day, Rakuten Trade will deposit RM7 back into your account, essentially offsetting the brokerage fee to just RM2.

You can find the full T&C here.

How to get more RT Points?

(1) New Users: Use my referral link at the end of this article and get the following when you open an account:

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 1^st trade within 30 days after your account is activated.

(2) New & Existing Users: Rakuten Trade users get +1 RT point for every RM2 brokerage paid.

No Money Lah’s Verdict

So here you go – my long-term user review of Rakuten Trade!

For me, Rakuten Trade is a solid choice as it has the most balanced offering between value, functionalities, and rewards. As the platform develops, I foresee Rakuten Trade will become even more user-friendly with time.

If you find this article useful, and would like to open your Rakuten Trade stock trading account, do consider using my referral link below to register for your account (or select ‘NoMoneyLah’ under ‘Educator’ when you register).

Open A Rakuten Trade Account Today!

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

From 7^th March – 28^th 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!

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 US trade.

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.

Rakuten Trade did not receive copy approval rights on this article – that means they are reading this article for the first time, right alongside you. 🙂

by Chin Yi Xuan

Guide: How to open a CDS & Stock Trading Account Online

If you are looking to invest in the stock market in Malaysia, the first thing that you got to do is to open a CDS account & stock trading account.

Opening a CDS and stock trading account is actually pretty simple. In this article, we are going to cover all the things that you should know before opening your stock trading account, and HOW to open one!

Before this, here are some posts that you might find useful:

Step 1: Decide if you are opening a Direct CDS or a Nominee CDS account

A Central Depository System (CDS) account is an account that records the ownership of your stock holdings and any of your transaction history whenever you buy or sell shares. Take it as an electronic safe box that keeps your shares.

In Malaysia, all CDS accounts are maintained and operated by the Bursa Malaysia Depository. As such, you will receive a monthly account statement if there is any transaction made in your CDS account during the preceding month.

As a side note, you need to be 18 years old and above to open an account. Also, there is an RM10 fee for CDS account opening. In addition, your broker will help you to open your CDS account simultaneously when you register for your stock trading account.

There are 2 types of CDS account – Direct CDS and Nominee CDS account.

Description	Direct CDS	Nominee CDS
Account holder’s name	Shareholder (You – Mr./Ms.)	Broker’s name (eg. Rakuten Trade Nominees for Mr./Ms.)
Eligibility for IPO application	Yes	No
Dividend Payment	Credited directly into registered bank account.	Credited into your brokerage account
Paperwork on corporate actions (eg. Rights issue, dividends)	Managed directly by the shareholder.	Managed by the broker on behalf of shareholder with a service charge. [Free on Rakuten Trade]
Annual reports & dividend vouchers	Received directly from the Registrar.	Will not receive directly from the Registrar. [Annual reports can be easily downloaded from Bursa]
Rights to attend AGM	Yes	Yes, with broker's consent letter.
Shares transfer	Transferable to family members’ accounts.	Transferable to own account only.

Which is better, Direct CDS or Nominee CDS Account?

Generally, choosing to go with either Direct CDS or Nominee CDS will not affect your investment journey significantly.

That said, if you are just getting started with stock investing, my suggestion is to open a Nominee CDS account (specifically Rakuten Trade), because:

Convenience: Your broker will manage all the necessary paperwork on your behalf in the event of corporate actions such as dividends and rights issue. This is a huge convenience as the paperwork process can be overwhelming to new investors.
Some Nominee CDS brokers may charge a small handling fee on this but it’s free on Rakuten Trade (yup, no charges!).

The only obvious downside of a Nominee CDS account is users are not able to apply for Initial Public Offering (IPO) for soon-to-be listed companies. Honestly, I don’t think this is a big letdown because most investors should be looking to invest in companies with a long track records and financial data.

READ: Rakuten Trade Long-Term User Review: 5 Reasons Why it is my preferred stockbroker

Rakuten Trade Nominee CDS vs Typical Nominee CDS Account

Just a quick note: Not all Nominee CDS Accounts are created the same. Personally, I am using Rakuten Trade Nominee CDS Account over the others because:

	Rakuten Trade Nominee CDS Account	Typical Nominee CDS Account
Corporate Action Fees (eg. Rights issue, Dividends)	Free	Small Handling Fee
Share transfer	Yes, transferable to family members	Yes, transferable to own account only
Rights to attend AGM	Yes, simply email your request to Customer Service 10 working days before the AGM	Yes, requires consent letter from bank/broker
CDS Account Opening Fee	Waived	RM10

Rakuten Trade Referral Link for New Users

If you are keen to open a Rakuten Trade account, consider using my referral link 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 1^st 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!

Step 2: Choose a Stock Broker

Now that you know what a CDS account is, the next thing is to choose a stock broker. Essentially, a stock broker provides you with the platform to buy and sell stocks.

Recap: When you sign up for a stock brokerage account, your broker will open a CDS account for you. Hence, the key here is to choose the right broker for yourself.

There are 2 main things that you have to consider before opening a brokerage account, namely the (1) brokerage fees and (2) whether you are opening a Cash Upfront or Margin/Contra account.

i. Malaysia Stock Brokers Fee Comparison

The brokerage fee is an important consideration for an investor, especially if you are starting with small capital. Below is a list of stockbrokers in Malaysia and their brokerage fee:

Transaction Value & Commissions	< RM1,000	RM1,000 – 9999.99	RM10,000 – 50,000	RM50,000 – 100,000
Rakuten Trade	RM7	RM9	0.10%	0.10%
M+ Silver Cash Upfront Account	0.08%/RM8, whichever higher			0.05%
Hong Leong HLE Value Trade Account	0.10%/RM8, whichever higher
Maybank	0.42%/RM12, whichever higher
UOB UTrade	0.42%/RM28, whichever higher
CIMB Clicks Trader	0.0388%/RM8.88, whichever higher

As you can see in the above picture, there is a difference in how brokers charge their fees. If I were to buy into 100 units of shares at RM1.00 per unit:

Maybank Investment Account (0.42% or RM12, whichever is higher): Total Cost = RM100 + RM12 = RM112

Rakuten Trade (0.1% or RM7): Total Cost = RM100 + RM7 = RM107

Also, do note that the brokerage fee is charged twice: when you buy and when you sell your shareholdings. Hence, it is crucial for you to choose a stockbroker with a low brokerage fee!

LATEST: Get discounts on your brokerage fee on Rakuten Trade! Click HERE to find out more.

ii. Cash Upfront or Margin/Contra Account

Next, consider if you need a Cash Upfront or a Margin/Contra account.

Essentially, Cash Upfront is pretty straightforward: you only invest the money that you have in your account (imagine a prepaid card).

In contrast, with a Margin account, you get to buy shares with a total value higher than your available cash. In other words, you can borrow money from your broker to buy shares using your Margin account.

When you buy shares on margin, your profit will be amplified when the share price goes up. On the flip side, your losses will also be amplified when the share price goes down.

On a personal note, I do not recommend new investors to buy shares on margin, unless you really know what you are doing and you can handle the risk involved.

READ: What's the difference between cash upfront and margin account?

Opening Your CDS & Stock Trading Account Online via Rakuten Trade

Rakuten Trade is a joint venture between Kenanga Investment Bank (Malaysia) and Rakuten Securities (Japan), which is regulated by Malaysia's Securities Commission (SC).

It is my go-to broker to invest in the stock market in Malaysia.
Rakuten Trade offers one of the most competitive commission rates in Malaysia. In other words, Rakuten Trade is a fee-friendly option especially for new investors that are starting with a small capital – more below.
Launched in January 2022, Rakuten Trade now offers users access to the US stock market at a highly affordable commission!

Let’s dive deeper and find out more about Rakuten Trade:

#1 One of the lowest brokerage fees around

Rakuten Trade offers one of the lowest brokerage fees among the brokers in Malaysia – hence making it one of the most affordable options for new and experienced investors or traders alike.

Transaction Size	Brokerage Fees
< RM1,000	RM7 flat fee
RM1,000 – RM9,999	RM9 flat fee
RM10,000 – RM99,999	0.1%
> RM100,000	RM100 flat fee

#2 Open CDS Account & Stock Trading Account at the same time

When you apply for a stock trading account through Rakuten Trade, your CDS account will also be opened automatically on your behalf.

It took me about 15 minutes to register for a Rakuten Trade share trading account. The best part is that your application will be processed extremely quickly and you can start investing after your account has been activated.

[Recap: Rakuten Trade stock trading accounts are Nominee CDS. Meaning, you do not have to deal with all the related paperwork in your investing or trading journey.]

#3 Trade both Malaysia & US Stock Market via Rakuten Trade

Starting 2022, Rakuten Trade users can trade the US stock market at a highly affordable price! It is the BEST platform to invest in the US market in Malaysia.

Check out my in-depth review on Rakuten Trade US stock trading below:

READ: Rakuten Trade Us stock trading review

Step-by-Step Guide to Open a Rakuten Trade Stock Trading Account (Cash Upfront account)

Step 1: Click the button below to open Rakuten Trade's registration page. Select ‘Cash Upfront’ as your Account Type.

Open A Rakuten Trade Account Today!

Step 2: Key in your Name, Nationality & IC

Step 3: Upload the front & back snapshot of your IC.

p.s. Select 'NoMoneyLah' under 'Educator', and you will get a free 500 Rakuten Trade points (worth RM5) that can be used to reduce your brokerage fees and/or converted into Big Points or Boost Coins!

Step 4: Key in your Contact, Email, Username and Security Question.

Step 5: You have to set a 6-digit trading pin to execute any transaction for buying or selling shares. This pin is VERY important as you need to key in this pin for all your transaction on Rakuten Trade!

Step 6: Key in your personal particulars in the next few sections.

Step 7: Update your bank account details & upload your Bank Statement.

Step 8: Answer the few remaining questions for profiling purposes.

Step 9: Update your bank account details & upload your Bank Statement.

Step 10: Pay RM10 for your CDS account opening (p.s. Currently waived by Rakuten Trade).

Step 11: Upon payment, you will receive an email in your inbox asking you to verify your email.

Step 12: Done! You will be notified once your Rakuten Trade account is approved. Next, you can start to fund your account and start investing or trading!

No Money Lah Verdict

To start investing or trading the stock market, choosing a reliable stock trading platform is important, and I have no problem recommending Rakuten Trade due to its ease of application and additional perks (eg. Using RT points to reduce brokerage fee, converting RT points to BIG Points for every transaction.)

If you are keen to open a Rakuten Trade account, consider using my referral link 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 1^st 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!

Disclaimers:

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.

by Chin Yi Xuan

Cara membuka akaun CDS online di Malaysia

Panduan: Cara buka akaun CDS & akaun saham secara online

Anda nak mula melabur dalam pasaran saham di Malaysia?

Aspek yang paling penting sebelum anda bermula melabur saham di Malaysia adalah untuk membuka akaun CDS dan akaun perdagangan saham anda.

Sebenarnya, pembukaan akaun CDS dan akaun saham di Malaysia adalah senang & ringkas. Dalam artikel ini, fahami perkara penting yang anda kena tahu sebelum membuka akaun perdagangan saham di Malaysia seperti pemilihan Akaun CDS and Broker Saham, dan panduan ‘step-by-step’ dalam proses pembukaan akaun!

TERKINI: Beli saham US melalui Rakuten Trade sekarang - klik sini untuk info lanjut

Langkah 1: Putuskan sama ada anda hendak membuka akaun ‘Direct CDS’ atau ‘Nominee CDS’

Akaun ‘Central Depository System’ (CDS) adalah akaun yang merekodkan hak milik saham dan sejarah transaksi anda dalam pembelian and penjualan saham. Secara ringkasnya, anda boleh kaitkan akaun CDS seperti ‘security box’ yang menjaga keselamatan saham anda.

Sebelum membuka akaun CDS, ada 3 perkara yang anda perlu tahu:

Anda perlu berumur 18 tahun ke atas untuk membuka akaun CDS.
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Caj RM10 dikenakan untuk pembukaan akaun CDS. Namun, broker saham seperti Rakuten Trade menampung caj tersebut untuk pengguna.
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Broker saham akan membuka akaun CDS secara serentak untuk anda semasa anda mendaftar untuk akaun perdagangan saham. Dalam ayat lain, anda tidak perlu membuka akaun CDS secara berasingan.

Terdapat 2 jenis akaun CDS, iaitu Direct CDS dan Nominee CDS. Bezanya adalah seperti berikut:

	Direct CDS	Nominee CDS
Nama pemegang akaun	Pemegang Saham (Mr./Ms.)	Broker (eg. Rakuten Trade Nominees for Mr./Ms.)
Pendaftaran untuk melabur dalam IPO	Boleh	Tidak Boleh
Pembayaran Dividen	Kredit ke akaun bank anda	Kredit ke akaun perdagangan saham anda
Kertas kerja untuk corporate action (eg. Rights Issue, Dividen)	Diuruskan oleh pemegang saham	Diuruskan oleh broker bagi pihak pemegang saham. Biasanya caj servis dikenakan. [Percuma di Rakuten Trade]
Laporan tahunan & Koupon Dividen	Akan dikirim oleh Registrar	Tidak akan dikirim oleh Registrar [Laporan tahunan boleh dimuat turun dengan senang dari laman web Bursa Malaysia]
Kelayakan untuk menghadiri AGM	Boleh	Boleh, dengan surat dari broker
Shares Transfer	Saham boleh dipindahkan ke akaun keluarga anda	Saham hanya boleh dipindahkan ke akaun sendiri

Akaun CDS mana yang lebih baik? Direct CDS atau Nominee CDS?

Secara amnya, pilihan sama ada untuk membuka akaun Direct CDS atau Nominee CDS tiada beza dan impak besar dalam proses pelaburan anda.

Namun, jika anda baru nak bermula untuk melabur saham, cadangan saya adalah untuk membuka akaun Nominee CDS, khususnya Rakuten Trade, kerana:

Kemudahan Nominee CDS: Broker saham anda akan menguruskan semua ‘paperwork’ bagi pihak anda dalam ‘corporate action’ seperti pembayaran dividen dan rights issue.Bagi saya, ini adalah kemudahan yang besar sebab paperwork boleh merupakan sesuatu yang lebih rumit untuk pelabur yang baru atau kurang pengalaman.
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Biasanya, sesetengah broker saham yang menawarkan akaun CDS Nominee mengenakan caj pengurusan. Tapi, ianya percuma di Rakuten Trade (betul tiada caj!).

Tapi, satu perkara yang anda kena tahu mengenai akaun Nominee CDS ialah pelabur yang menggunakan akaun Nominee CDS tidak boleh mendaftar untuk Initial Public Offering (IPO), iaitu syarikat yang bakal disenaraikan di Bursa Malaysia.

Walaupun demikian, saya tidak rasa ini perkara yang membawa impak besar sebab kebanyakan pelabur seharusnya fokus pada syarikat yang mempunyai ‘track record’ yang lebih panjang.p

Rakuten Trade Nominee CDS vs Akaun Nominee CDS Biasa

Penting: Bukan semua akaun Nominee CDS direka sama antara satu sama lain! Bagi saya, daripada Nominee CDS yang ditawarkan oleh broker-broker saham di Malaysia, saya menggunakan akaun Nominee CDS dari Rakuten Trade kerana:

	Akaun Nominee CDS Rakuten Trade	Akaun Nominee CDS Biasa
Caj Pengurusan Corporate Action (eg. Rights Issue, Dividen)	Percuma	Dikenakan
Shares Transfer	Saham juga boleh dipindahkan ke akaun keluarga anda selain daripada akaun sendiri	Saham hanya boleh dipindahkan ke akaun sendiri
Kelayakan untuk menghadiri AGM	Boleh. Prosesnya ringkas, iaitu hanya dengan email-kan permintaan anda ke customer service Rakuten Trade 10 hari sebelum tarikh AGM.	Boleh, dengan surat dari broker saham.
Caj Pembukaan Akaun CDS	Percuma	RM10

BACA: Review Pengguna Jangka Panjang Rakuten Trade: 5 Sebab Kenapa ia merupakan broker saham pilihan saya

Referral Link EXCLUSIF: Gunakan referral link saya untuk buka akaun Rakuten Trade anda hari ini, dan terima 500 Rakuten Trade (RT) Points (bernilai RM5) yang anda boleh gunakan sebagai rebat untuk caj broker semasa melabur!

Buka Akaun Rakuten Trade Anda Hari Ini!

Langkah 2: Pilih Broker Saham anda

Setakat ini, saya rasa anda dah faham apa tu akaun CDS. Sekarang, kita kena tentukan broker saham yang kita ingin guna untuk membuka akaun perdagangan saham.

Secara ringkasnya, broker saham menyediakan platfom untuk memudahkan para pelabur membeli dan menjual saham.

Ingat: Bila anda mendaftar untuk akaun perdagangan anda, broker saham akan membuka akaun CDS secara serentak bagi pihak anda. Jadi, apa yang penting ialah untuk memilih broker saham yang dipercayai.

Dalam pemilihan broker saham, terdapat 2 pertimbangan yang anda kena lakukan, iaitu (1) caj brokerage (atau komisen), dan (2) sama ada anda hendak membuka akaun Cash Upfront atau akaun Margin/Contra.

(1) Perbandingan Komisen Broker Saham di Malaysia

Komisen yang dicaj oleh broker saham merupakan pertimbangan yang penting, terutamanya untuk para pelabur yang mempunyai saiz kapital yang kecil:

Nilai transaksi & Komisen	< RM1,000	RM1,000 – 10,000	RM10,000 – 50,000	RM50,000 – 100,000
Rakuten Trade	RM7	RM9	0.10%	0.10%
M+ Silver Cash Upfront Account	0.08%/RM8, yang mana lebih tinggi			0.05%
Hong Leong HLE Value Trade Account	0.10%/RM8, yang mana lebih tinggi
Maybank	0.42%/RM12, yang mana lebih tinggi
UOB UTrade	0.42%/RM28, yang mana lebih tinggi
CIMB Clicks Trader	0.0388%/RM8.88, yang mana lebih tinggi

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Dari perbandingan di atas, adalah jelas bahawa broker-broker saham mempunyai komisen yang berbeza. Sebagai contoh, katakan saya membeli 100 unit saham pada RM1.00/unit:

Maybank Investment Account (0.42% or RM12, yang mana lebih tinggi): Jumlah Komisen = RM100 + RM12 = RM112
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Rakuten Trade (0.1% or RM7): Jumlah Komisen = RM100 + RM7 = RM107

Selain itu, apa yang anda kena faham ialah komisen ini dicaj 2 kali dalam proses transaksi saham: sewaktu pembelian DAN penjualan saham. Jelasnya, adalah penting bagi pelabur untuk memilih broker saham yang menawarkan komisen yang berpatutan!

TERKINI: Dapatkan rebat untuk komisen di Rakuten Trade! Klik SINI untuk maklumat lanjut.

(2) Akaun Cash Upfront atau Akaun Margin/Contra

Seterusnya, timbangkan sama ada anda hendak membuka akaun ‘Cash Upfront’ atau akaun ‘Margin/Contra’.

Ringkasnya, akaun Cash Upfront adalah akaun di mana anda hanya melabur dengan kapital yang dideposit dalam akaun anda. (macam kad prepaid)

Sebagai perbandingan, akaun Margin membolehkan pelabur untuk membeli saham dengan nilai lebih daripada jumlah kapital dalam akaun. Dalam kata lain, broker saham anda meminjam wang kepada anda untuk melabur melebihi saiz kapital anda. (ie. Invest in Margin)

Dengan membeli saham melalui akaun Margin, keuntungan pelabur akan berganda sewaktu harga saham menaik. Akan tetapi, kerugian juga akan berganda sewaktu harga saham jatuh.

Cadangan saya: Elakkan melabur melalui akaun Margin, terutamanya pelabur yang baru atau kekurangan pengalaman.

BACA: Apakah perbezaan antara akaun Cash Upfront dan akaun Margin?

Panduan Pembukaan Akan Perdagangan Saham dengan Rakuten Trade secara Online

Rakuten Trade merupakan ‘joint venture’ antara Kenanga Investment Bank (Malaysia) dan Rakuten Securities (Jepun) dan dikawal selia oleh Suruhanjaya Securiti Malaysia. Ia merupakan broker saham pilihan saya sebagai seorang pelabur di pasaran saham Malaysia.

Jom fahami Rakuten Trade dengan lebih lanjut:

#1 Salah satu broker saham yang menawarkan komisen yang paling rendah

Rakuten Trade menawarkan komisen yang amat berpatutan apabila dibanding dengan kebanyakan broker saham di Malaysia. Oleh sebab itu, Rakuten Trade merupakan pilihan yang rasional untuk pelabur baru dan berpengalaman.

Nilai Transaksi	Komisen
< RM1,000	RM7 bayaran tetap
RM1,000 hingga RM9,999	RM9 bayaran tetap
RM10,000 hingga RM99,999	0.10%
> RM100,000	RM100 bayaran tetap

#2 Proses Pembukaan Akaun yang Ringkas & Senang

Rakuten Trade adalah broker saham pertama di Malaysia yang menawarkan pembukaan akaun secara online.

Ia hanya mengambil 15 minit untuk mendaftar akaun baru melalui Rakuten Trade. Yang best sekali, pendaftaran anda diproses dengan cepat dan anda boleh mula melabur lepas tu.

Ingat: Rakuten Trade merupakan akaun Nominee CDS. Maksudnya, pelabur tidak perlu menangani ‘paperwork’ dalam seluruh proses pelaburan.

Panduan ‘Step-by-Step’ untuk membuka akaun Rakuten Trade (Cash Upfront Account)

Step 1 Rakuten Trade Registration — Langkah 1- 3 Pendaftaran Rakuten Trade

Langkah 1: Klik link di bawah untuk membuka page pendaftaran Rakuten Trade. Dalam ‘Account Type’, pilih ‘Cash Upfront’.

Buka Akaun Rakuten Trade Anda Hari Ini!

Langkah 2: Masukkan Nama, IC dan maklumat Warganegara.

Langkah 3: Muat naik foto IC anda (depan & belakang)

Ingat: Pilih ‘NoMoneyLah’ di bawah ‘Educator’, dan anda akan mendapat 500 Rakuten Trade (RT) Points PERCUMA (bernilai RM5), di mana ia boleh diggunakan sebagai rebat komisen, atau ditukar kepada Big Points atau Boost Coins!

Langkah 4: Masukkan Contact, Email, Username dan Security Question.

Langkah 5: Sebagai langkah keselamatan, anda kena mencipta ‘trading pin’ 6-angka untuk meluluskan sebarang transaksi saham. Pin ini PENTING sebab anda perlu masukkan pin untuk semua transaksi saham di Rakuten Trade!

Langkah 6: Masukkan maklumat persendirian untuk seksyen seterusnya.

Langkah 7: Masukkan maklumat perbankan anda dan upload penyata bank sebagai bukti.

Langkah 8: Bayar RM10 sebagai caj pembukaan akaun CDS. (Percuma untuk pengguna Rakuten Trade pada masa ini)

Langkah 9: Anda akan menerima email dan anda diperlukan untuk membuat verifikasi untuk email anda.

Langkah 10: Siap! Anda akan menerima notifikasi apabila akaun Rakuten Trade anda diluluskan. Seterusnya, anda boleh mula menambah dana dalam akaun Rakuten Trade dan mula belabur!

Kesimpulannya…

Pilihan platfom broker saham yang dipercayai adalah penting sekali untuk setiap pelabur. Sebagai pengguna Rakuten Trade, saya boleh mengesyorkan Rakuten Trade dengan yakin disebabkan applikasi yang mudah dan platfom pelaburan yang ‘user-friendly’.

Suka artikel ini dan nak buka akaun Rakuten Trade? Gunakan ‘referral link’ saya (atau masukkan ‘NoMoneyLah’ di bawah ‘Educator’ sewaktu anda mendaftar)! Dapatkan 500 Rakuten Trade (RT) Points (bernilai RM5) yang anda boleh gunakan sebagai rebat untuk caj broker semasa melabur!

Buka Akaun Rakuten Trade Anda Hari Ini!

ANDA MUNGKIN BERMINAT:

(1) How to Make Your First Trade Using Rakuten Trade?

(2) Have a question about Rakuten Trade? Click HERE to get your solution!

(3) 4 Powerful Features on Rakuten Trade that’ll help you invest better!

(4) How to create your own powerful Bursa stock screener via Rakuten Trade?

(5) NEW: Rakuten Trade Long-Term User Review: 5 Reasons Why it is my go-to Stock Broker!

by Chin Yi Xuan

[Sponsored Post] How to use ASNB Target Labur to achieve your financial goals!

Do you have a financial goal in mind, and would like some form of accountability to help you achieve the goal?

If your answer is a YES, I think you will like the new Target Labur feature from ASNB!

RELATED READ: What is ASNB and how to invest in it?

What is Target Labur from ASNB?

ASNB Target Labur is a goal-based investing feature within the myASNB app.

Through Target Labur, you can plan your financial goals, where you'll be given suggestions on how much to invest monthly in their goals.

In addition, you are able to track the progress of your goals easily with Target Labur to stay accountable to your goals.

Through Target Labur, ASNB aims to encourage more Malaysians to build healthier investing habits and achieve their financial goals.

How to use ASNB Target Labur?

ASNB Target Labur is open to all investors of ASNB funds within the myASNB portal or app.

If you are totally new to ASNB (ie. Have not purchased any ASNB fund before), proceed to download the myASNB app to open an ASNB account. Once you have opened an account and purchased your first ASNB fund, you will be able to use the Target Labur feature.
If you are an existing ASNB investor that does not have a myASNB account yet, definitely download the myASNB app and complete a short e-KYC process. Once that is done, you will be able to access the Target Labur feature.

Next, let’s go through how to use the Target Labur feature:

Step 1: Click on Target Labur in your myASNB app

Step 2: Select a suggested goal, or feel free to create your own customized goal!

Step 3: Key in the target amount & date to achieve your goal.

Then, set a return expectation for your investments. Do note that this is only a reference, and does not serve as an indication of future returns.

Step 4: You will be given suggestions on how much to invest monthly based on your goals.

This suggestion is made based on certain key factors and assumptions. I highly recommend you to read them up by clicking on the ‘basis of calculation’ section.

Step 5: Once you have started your goal, you will be able to track your progress easily through the myASNB app.

If you need a tutorial on ASNB Target Labur, definitely watch their tutorial HERE.

#JomLabur Campaign – Win attractive prizes through Target Labur!

Looking to start achieving your financial goals with ASNB Target Labur?

Now’s the best time to do so as you stand a chance to win attractive prizes worth up to RM200,000!

From 8^th October 2021 to 31^st March 2022, ASNB is running a #JomLabur campaign to encourage Malaysians to use the Target Labur feature in the myASNB app.

It’s really easy to participate in the #JomLabur campaign:

Create 2 goals worth at least RM5,000 each via the Target Labur feature in the myASNB app.
Winners will be randomly selected in accordance with the terms and conditions of this campaign.

You can learn more about the terms & conditions of the #JomLabur campaign HERE.

No Money Lah’s Verdict

ASNB has been a go-to investment for many Malaysians. With the introduction of the Target Labur feature, it’ll certainly help encourage a better investing habit among us all.

ASNB Target Labur FAQ

Is it mandatory for ASNB investors to use the Target Labur feature?

Target Labur is a facility within the myASNB app aimed at encouraging healthy investment habits. It is not mandatory for myASNB app users or ASNB investors to use the Target Labur feature.

Is there a limit on the number of goals you can create?

There is no limit to the number of goals a person can create, though the maximum target value per goal is fixed at RM100,000,000.

Can I redeem the funds once it is allocated to Target Labur?

Allocation does not mean ‘locking in’ - you are in complete control of your funds and can redeem as necessary, in accordance with redemption policies.

If I delete a goal in Target Labur, will I lose my investments allocated to it?

Deleting a goal does not impact your investments in ASNB products. Deleting a goal simply allocates it to general savings or allows you to allocate your investments to other goals.

Disclaimers:

Target Labur investing is only for the purpose of simulation, and should not be construed as investment advice or financial planning. This facility is designed to assist you in determining the appropriate monthly investment in order to achieve your financial targets.

ASNB is not responsible/liable and does not guarantee the accuracy of the figures calculated. The figures calculated are for illustration only and shall not be regarded as recommendations or solicitations towards the buying or selling of ASNB’s products. Investors are advised to read and understand the Electronic Prospectus(es) and its Supplementary Prospectus(es) (if any) as well as the Product Highlight Sheet prior to making any investment decision. If in doubt, please consult a professional advisor

by Chin Yi Xuan

How to Make your First Trade on Rakuten Trade?

Rakuten Trade is my go-to broker when it comes to investing in the Malaysia stock market. In addition, it has also introduced US stock trading for Malaysians in January 2022.

In this article, I am going to share a simple step-by-step guide on how to execute a transaction on Rakuten Trade, and explain some key terminologies along the way (Don’t worry it is very straightforward once you get it!).

Before this, here are some posts that you might find useful:

Step-by-Step guide to Buy a Stock on Rakuten Trade

Upon logging in to your Rakuten Trade account for the first time, you will have to first fund your trading account using the funding methods available. In short, the easiest method is to fund your account using your savings/current account.

Step 1: Search for the stock that you want to buy at the search bar.

Step 2: Click ‘Buy’

At the order page, there are a few key sections that you got to familiarize yourself with:

1 – Trading Limit: How much capital you have to invest.

2 – Market Price: The price where a share is traded most actively between buyers & sellers.

3 – Best Buy & Best Sell Table (Market Depth): This table shows us what is the price that the people are lining up to buy/sell and the volume.

The more volume it is for a price, it means that the faster you will be getting it once you execute an order. (eg. You will be able to buy at RM1.28 immediately compared to trying to buy at a lower price of RM1.27)

4a – Board Lot & Odd Lot:

•Board lot means you buy in a minimum multiple of 100 units. (1 Board Lot=100 units of shares, RM1.28*100=RM128)

•Odd Lot means you can buy in a multiple of 1 unit.

•Since more people will buy in Board Lot, your order will usually be filled easier compared to buying in odd lots.

4b – Quantity:

•If you buy in Board Lot, your quantity will be in the multiple of 100. (eg. Put 2 if you want to buy 200 units of shares)

•Odd lot means you are free to key in any number of units that you want. (eg. Key in 88 if you want to buy shares in 88 units)

5a – Order Type:

Limit Order: Queuing to Buy LOWER than market price. (if you are selling means you are queuing to Sell HIGHER than market price)
Market Order: Buying or selling at MARKET PRICE. (order will be fulfilled almost instantly)

5b – Limit Price (not available if ordering at market price):

The price you want to buy below the market price. (eg. Queuing to buy cheaper at RM1.26 instead of the market price of RM1.28)
Note that buying below market price may not 100% guarantee that your order will be fulfilled.

6 - Validity (only available if buying/selling via Limit Order):

Day: Your order will be canceled if it is not fulfilled by day end (5pm). (eg. If you queued at RM1.26 but did not get fulfilled, then your order will be canceled by 5pm the same day)
Good-Till-Date (GTD): You can decide the validity of your order. (eg. You queue for the price of RM1.26 until X date)

7 – Trading Pin: Your numbered pin to approve your trade. (Set when you open your account.)

You have successfully made your first transaction!

Step 3: Fill in the details of your trade, your Trading Pin and click Confirm Order.

Note:

1. Decide if you are buying Board Lot or Odd Lot.

2. Decide your Quantity.

3. Decide your Order Type.

4. Key in your trading pin.

5. Confirm Order.

6. Wait for your order to be filled.

And we are done! This is how exactly you can buy your first stock via Rakuten Trade.

KLSE Market Operating Hours

The market is open from Monday to Friday, except for public holidays. Details on active market hours are as stated below:

Stock market operating hours

Rakuten Trade Referral Link for New Users

If you are keen to open a Rakuten Trade account, consider using my referral link 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 1^st 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!

How can you use these RT points?

These RT points are amazing, as they can be converted into BIG Points, which are redeemable for rewards. Even if you are not a fan of BIG points, Rakuten Trade often runs campaigns with companies such as HelloGold and Tokenize so you can convert your RT points into gold or cryptocurrencies!

p.s. Click HERE for the full T&C of your account opening reward.

No Money Lah Verdict

With a good understanding of the terminologies and functions, hopefully, you will not be so overwhelmed with these stock trading platforms!

If you are keen to open a Rakuten Trade account, consider using my referral link 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 1^st 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!

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.

by Chin Yi Xuan

Chin Yi Xuan

Step 5: Select ‘Other Overseas Bank Accounts’

Step 6: You’ll be shown the remittance/transfer details.

a. Market Order:

b. Limit Order:

c. Setting Stop Loss via Stop Order (Stop-Loss Order) or Stop Limit Order

c (i). Stop-Loss Order (or Stop order)

c (ii). Stop-Limit Order