Binance referral code 20204/3/2023 ![]() ![]() I’m a long-term investor and typically make about 10-20 trades a year, depending on the market’s performance. Rakuten Trade activates 11,000 new accounts in March, amid MCO periodĪs reported by The Edge Markets How I Use Rakuten Tradeįor all Malaysian retail brokers like myself, I think Rakuten Trade is the best brokerage we have available here. ![]() In part, due to clients being allowed to register for and activate their accounts online. With the Covid-19 pandemic, Rakuten Trade has reported an unprecedented number of sign-ups and activations. Rakuten Trade – One of Malaysia’s Best Brokerage If you’re already an existing Rakuten Trade user, skip Step 1 and just proceed with Step 2. This can be done via the website or through their app. Then, you’ll have to log in to your Rakuten Trade account and activate Foreign Trading. You’ll also receive 1,000 free RT points (updated for 2023) which can be used to offset your brokerage fees! Please consider supporting me and the blog by using my referral link hERE with the code: DIVMAGIC. If you’re new to Rakuten Trade, you’ll need to first open a basic Rakuten Trade Cash Upfront account. Step 1: Open your Rakuten Trade Cash Upfront Account Go register, activate and test the platform out together with me. With the fees out of the way, I urge you guys to go ahead and open and activate your Rakuten Trade Foreign account right now. Registration and Activating Foreign Trading This will have to be tried and tested when they eventually go live. Forex RateĬonversion rates will be competitive as per the briefing I attended. For a retail investor like me, it’ll be safe to say that Rakuten Trade offers the cheapest option right now. For trades above RM10K, you might want to look at MIDF or FSMOne. In short, for transactions below RM10K, as of today, Rakuten Trade is the best value for money. Rakuten Trade US Brokerage FeesĪ few key highlights on their fee structure:Īs of now, the official fee range is (RM7-RM100) which is the same as its local broker fees. I’ve been using it for the last six months and you can find my update(s) on my US Portfolio for 2023 hERE. I’ll be updating this article as I continue to test the platform and maybe even write a longer stand-alone review. No extra nonsense charges, so you’ll be seeing money come in.Īnother point to take note of is that Rakuten Trade as of now does not allow the trading of fractional shares. Dividends from the US will be subjected to a 30% withholding tax as I’ve mentioned several times. This will slowly increase as we go on and will eventually cover stocks from other countries.ĭividends. It is finally here!Īfter attending their live briefing, it seems that their fees will be one of the lowest among our local brokerages that offer foreign trading.Īs of now, Rakuten Trade only offers US share trading, which includes over 900 1,100 tickers of popular stocks and ETFs. Rakuten Trade: Foreign TradingĪs of 27 January 2022, Rakuten Trade will have its foreign trading account go live. I won’t go into details about the benefits of long-term passive investing, if this is unheard of to you, I’ll leave you with this write-up on Warren Buffet’s $1 million bet on passive investing vs hedge funds. I think in 10-20 years, you’ll be thanking me. Instead of picking your stocks and timing the market, buy the whole US market. This will be a very passive investing strategy and I’d like to invite you guys to try and do the same. If markets do drop and if a big dip happens, I might be investing a larger amount that month. I’ll be putting in about RM1-2K a month depending on my income. Starting Match 2022, I’ll be using Rakuten Trade to invest in Vanguard’s S&P 500 ETF (US: VOO) every month. Thank you in advance for supporting me and the blog. You will earn 1,000RT (RM10 equivalent) points upon successful activation of your account. ![]() Just make sure that this section is filled this way: The Seven Stages of Financial Independenceįirst off, if you’re thinking of registering for a Rakuten Trade account, and looking for a referral code, please consider supporting me and the blog by using my referral link hERE or with the code: DIVMAGIC.Investment Portfolios The Freedom Fund & more.US and International Stock Broker Comparison. ![]()
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