Rakuten eyes 20-30 per cent of retail market in three years

KUALA LUMPUR: Malaysia’s first completely online equities broker, Rakuten Trade Sdn Bhd, aims to capture between 20 and 30 per cent of the retail trade market over the next two to three years, says Managing Director Kaoru Arai.

The company was also expecting to reap profits within the first three years on the back of the high number of Internet savvy population in Malaysia, plus the convenience offered by its online platform.

Rakuten Trade is a 50:50 joint venture between Kenanga Investment Bank Bhd and Japan’s Rakuten Securities Inc.

“Compared with face-to-face services, it (online platform) is more convenient for people to trade real time.

“In Malaysia, the market share for Internet-based trading will grow fast in the next three or four years,” he said after the launch of iSpeed.my, the company’s online platform, by Deputy Finance Minister Datuk Lee Chee Leong.

He said the introduction of the platform was also in line with the Securities Commission’s digital agenda.

“Our platform is designed to appeal to the needs of new generation investors who are digital and e-commerce inclined, as well as, existing technology savvy traders who prefer self-directed trades,” he said.

Arai said the online platform was set to revolutionise online stock trading with its cutting edge technology and low brokerage rate.

“The platform not only facilitates trading but for the first time, Malaysians would be able to open an equity trading account completely online for trading on the local bourse,” he said, adding that the platform also worked as a financial portal to access simplified research materials and real time market information. — Bernama

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