seems ok to me... for Transferwise if direct transfer from local bank to it, then transfer to IBKR also quite heavy charges.. the more money you send the more expensive.
just hoping they will sell London stocks soon so that got access to Irish domiciled ETFs.

This post has been edited by Davidtcf: Jan 24 2022, 10:18 AM

One unit US share = how many lot ya ?

minimum is 1 if purchase via Rakuten. No fractional trading available yet for US stocks.
If want fractional then use IBKR can do so.

This post has been edited by Davidtcf: Jan 26 2022, 11:44 AM

How much comission ya?

Activate foreign trading with Rakuten can get 1 free US shares? No need to buy any shares also can get?

Yes. Now open to existing users. Promo ends 4 Feb.

Thanks

How do I redeem the free share?
I just got my foreign trading account activated, but no instruction or anything to guide me..
I didn't even get any news about it.
Or, is there a criteria to get it?

Btw, I am a member of MY account since last year.

There is no redemption required on your side.

The free share promo for enabling US feature for existing users started yesterday only.

If you enabled the feature since yesterday, you will get the Free US share.

How long before the free US share get credited? I sign up last week and account activated and still haven't receive the share yet

As per T&C

The applicable reward in this Campaign shall be credited to the Eligible Participants and Existing Participants account within forty-five (45) calendar days after the approval of their
Foreign Trading account or any further date as determined by Rakuten Trade in its sole discretion

hi all, what is the exchange rate when buying US stocks via Rakuten Trade ya?

Would like to know as it needs to convert to USD during purchase of a US stock/ETF.

This post has been edited by Davidtcf: Jan 28 2022, 02:36 PM

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This post has been edited by Rakuten Trade: Jan 28 2022, 02:47 PM

Just wonder yes it is good to get a free US share of don't know what company's stock yet.

But if we don't intend to buy and top up more of the company stock given, there will be hard to sell just 1 share in future. Also the selling cost and charges for this 1 share are high too.

What do you guys think?

This post has been edited by ehwee: Jan 28 2022, 08:25 PM

It has been 2 weeks, yet my account for foreign market still not activated..been writing to Customer Service but been asked to wait. 😥

I calculated its fees and FX rate when compared to WISE > IBKR. Using wise fee calculator then compare with Rakuten FX (it will show when u go into a US stock). Then just use example Tesla stock and count its cost via Wise calculator vs Rakuten FX rate. Can count for one stock or multiple stocks.

Wise calculator here:
https://wise.com/my/pricing/send-money

Rakuten FX rate:


Pretty much they trying to compete with Wise. The difference is just a few cents after factor in Wise fees for sending money, and Rakuten higher FX exchange rate.

However Rakuten has more expensive fees of around RM7-9 per US stock or ETF per trade. While IBKR charges the standard USD 0.35 cent a trade for Tiered pricing.

If you do a lot day trading or any trading, then stick to IBKR. If one month just trade once/ a few times then Rakuten Trade seems more convenient and better.

Right now wanna compare other things like their user interface and in the event of death etc will the process be easier than IBKR? Since Rakuten based here some policies might be different.

Then since Rakuten can FPX to deposit money and convert internally, don't have to wait for wise to process next day only can get money in IBKR. Basically one day lost if you need to get a stock on same day.

This post has been edited by Davidtcf: Jan 29 2022, 12:51 AM

I did a calculation and overall it doesn't seems like much difference. Rakuten u can save on wise transfer fees, but the rm7 for buying and selling makes it break even. Meanwhile, ibkr fees is cheaper, but after factoring in the wise transfer fees, it seems a bit more expensive

using this link to check already added in Wise transfer fee and FX rate. Notice the formula even listed out (can just punch those into calculator u will get same results):
https://wise.com/my/pricing/send-money



I compared, the above result is similar to Rakuten's FX rate.
So means what's left is the broker fees. For Rakuten it is RM7-9 a stock, for IBKR only USD 0.35 cents.

IBKR still wins. But comes to convenience and FPX transfer then Rakuten. FPX transfer and buy stock means you can complete the transaction at same day. If use Wise need +1 day next day only will receive money in IBKR.. that time stock price might change a lot lorr.. if stock price drop then untung la.. if suddenly next day go up USD10 a stock and you wanna buy 3-5 Tesla stock for example.. whatever amount you tried to save also burnt d.

This post has been edited by Davidtcf: Feb 3 2022, 12:11 AM

It's worth about $20

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Sign Up 👉 https://bit.ly/2Iumau0 for a Cash Upfront or DUAL accounts

Already a client and have not enabled FOREIGN MARKETS? This is the last chance to activate your foreign trading service to get rewarded. 

Just log into your dashboard to enable 𝐅𝐎𝐑𝐄𝐈𝐆𝐍 𝐌𝐀𝐑𝐊𝐄𝐓𝐒.

*T&C Apply



This post has been edited by Rakuten Trade: Feb 3 2022, 11:30 AM