Thursday 28 Mar 2024
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KUALA LUMPUR (July 29): Rakuten Trade Sdn Bhd has amplified its rewards program to meet the appetite for more cost-effective trading against the backdrop of an equities market that has been seeing the steady rise of a new generation of retail investors who prefer the independence and ability to execute their own trades digitally.

In a statement, the firm said online retail investors have demonstrated that affordability ranks high in the choice of trading platforms.

Tapping on the opportunity to enhance the digital trading experience for its users, Rakuten Trade recently launched its Tick, Trade & Rebate Program that allows its clients to use RT points to offset the trading brokerage fee.

It said this move resulted in more than 80% of RT points being redeemed to offset brokerage in the first month of its introduction.

Rakuten Trade’s chief executive officer Kazumasa Mise said the latest enhancement is considered a first-in-market move in online trading and facilitates clients’ goal of wealth accumulation by trading equities.

“Not only are we disrupting the status quo, but once again demonstrating the flexibility of our tech-savvy platform. In a survey we conducted last year, brokerage fees and rewards are key driving factors in online trading.

“By enhancing the ecosystem, Rakuten Trade is providing more value in a way that ultimately benefits the clients.”

Mise said Rakuten Trade’s award-winning ecosystem gives investors RT points whenever they engage with the platform from account opening, cash deposit, share transfer in, referring friends and family, trading and participating in various marketing campaigns.

He said that in addition to being used to offset brokerage fees, RT points can be converted into lifestyle rewards such as from AirAsia BIG Loyalty, BonusLink and Boost as well as financial products such as Gold by HelloGold and Cryptocurrency by Tokenize.

“To offset brokerage fees, the client only has to opt in when placing a trade on the Buy or Sell Order Pad. If successful, the brokerage rebate will be credited into the client’s account by the end of the trading day,” he said.

As of June 30, 2021, Rakuten Trade has activated more than 215,000 accounts and contributed close to RM80 billion in total trading value on Bursa Malaysia.

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