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:

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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.

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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.

 

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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.

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

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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).

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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.

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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.

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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

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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.

The desktop app of Tiger Brokers

(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.

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(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.


Rakuten Trade US stock trading review

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:

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! 

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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
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
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
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
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.

Market Order vs Limit Order
Market Order vs Limit Order

(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.

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(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)

Rakuten Trade US share trading conversion rate (buy)

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]

Rakuten Trade US share trading conversion rate (sell)

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. 

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(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.

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(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

 

Rakuten Trade Account Opening Reward

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

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

Open a Rakuten Trade Account Today!


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.

Use RT points to offset brokerage fee
Use RT points to offset 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.

Rakuten Trade Free Brokerage on US trading


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

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

Open a Rakuten Trade Account Today!


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. 

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

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

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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.  

Activate Foreign Equity Trading Account on Rakuten Trade

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. 

Activate Foreign Equity Trading Account on Rakuten Trade

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)

Rakuten Trade US Share Giveaway

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

How it works:

Part 1: Weekly Winner

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

Rakuten Trade US Share Giveaway (Weekly Prizes)

Part 2: Grand Finale Lucky Draw

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

Rakuten Trade US Share Giveaway (Grand Finale)

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


Disclaimer:

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


RAKUTEN TRADE REVIEW

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! 

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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.
    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
Local Brokers' Commission Fees Comparison for Malaysia stock market

 

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

RELATED READ: Rakuten US Stock Trading Review

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#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?

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#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:

  1. 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.
  2. 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.

Rakuten Trade web platform
Modern & Simple: Rakuten Trade web platform

READ: How to buy your first stock on Rakuten Trade

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#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.
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)

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#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.
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.
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:

  1. 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.
  2. Investors that are looking to save time on paperwork and skip the handling fees for corporate action such as dividends and rights issue.
  3. Investors that are looking to open an account and manage their stock portfolio fully online during this pandemic.
  4. 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

 

Rakuten Trade Account Opening Reward

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

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

Open a Rakuten Trade Account Today!

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:

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

    Use RT points as brokerage fee rebate
    Now you can use your RT points as rebates for your brokerage fees.
  2. Opt-in for brokerage rebate when you buy or sell shares on Rakuten Trade.

    Use RT points to offset brokerage fee
    Use RT points to offset brokerage fee
  3. 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 1st 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)

Rakuten Trade US Share Giveaway

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

How it works:

Part 1: Weekly Winner

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

Rakuten Trade US Share Giveaway (Weekly Prizes)

Part 2: Grand Finale Lucky Draw

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

Rakuten Trade US Share Giveaway (Grand Finale)

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


Disclaimer:

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

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. 🙂


ASNB TARGET LABUR

[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? 

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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.

asnb target labur
Source: ASNB

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

ASNB Target Labur
Access the Target Labur feature within the myASNB app.

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

ASNB Target Labur
Select or customize your own financial goal via Target Labur!

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.

ASNB Target Labur

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.

ASNB Target Labur

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.

ASNB Target Labur
Track your goals easily via Target Labur

#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 8th October 2021 to 31st 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.

ASNB jomlabur campaign


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

  1. 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.

  1. 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.

  1. 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.

  1. 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


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

Rakuten Trade Account Opening Reward

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

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

Open a Rakuten Trade Account Today!

Select 'NoMoneyLah' under 'Educator' to get your RT points!
Select 'NoMoneyLah' under 'Educator' to get your RT points!

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

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

Open a Rakuten Trade Account Today!


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.