Hi, anyone know how to name a beneficiary for my rakuten account in the event of death?

Do it in your Will.

rakuten website is good, but its app keep refreshing & loading... need improvement

This post has been edited by wiki88: Mar 22 2023, 04:57 AM

when trading US stock, is it better to convert to USD prior trading or just trade with MYR base on current rate?

USD you can lock the FX rates while RM based on the floating rate

Cheaper to use USD rather than floating rate because RM is changing rate every weekday

Hi guys,

I am new to rakuten.

May i know if i buy one share of SPY ETF total i need to pay how much?

Is it 410usd+1.88usd=411.88

Thanks

More than that plus stamp duty 🤦‍♀️

It should be around 413 range in total

Now i google found stamp duty 0.15%

so is 410*0.15% =0.615
410+1.88+0.615=412.5 usd correct?

no more other hidden fee right?

Thanks

This post has been edited by sl3ge: Apr 12 2023, 02:37 PM

1.88 is the minimum brokerage 🤦‍♀️

Every rm1000 the fees goes up by about 0.90

So yours be around 2.90 to 3.10 with stamp duty which is said I earlier around 413 in total

Can rakuten trade do DCA for automated monthly buy us etf?

No only whole full units and no DCA for fractional yet

But they working on lowering brokerage coming soon so it will be even cheaper than now hopefully and maybe get rid of the stamp duty

https://www.businesstimes.com.sg/companies-...n-ipo-top-range

Not much related, but good to know.

Good fractional shares now in beta testing should be very soon 👏

Great to hear that.

Rakuten just dropped their minimum brokerage rate to RM1 ... including USA...

Only works for below rm700 trade 🤦‍♀️

Good for those who DCA to index funds

Live already but it is still not as cheap as IBKR

Fractional lowest unit is 0.01 with brokerage at 0.55usd hence still not as cheap but much better than before by saving almost 1.50 usd per trade

Don’t forget to factored in about 3% FX spread markup

So overall not as cheap as what you think

Can i ask some question..

1)Whenever i want buy us share just come to this page convert myr to usd, the amount doesn't matter right?
which mean no need convert many myr->usd in one goal(just convert how many i needed), since rate is fixed.
(mean it is no cheaper convert more myr->usd)

2) Regarding "Don’t forget to factored in about 3% FX spread markup "
I saw rakuten convertion rate is 4.4455 and google is 4.42
4.44-4.42=0.02% different
3% you mean is?

Thanks

This post has been edited by sl3ge: Apr 17 2023, 11:10 AM


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Hi all, we have some news to update (but looks like everyone here already knew about it 😁)

✅ We have revised our brokerage rates - Now from as low as RM1.
Please note that for smaller trades, brokerage will begin at RM1 however, for trades from RM700 to RM9999.99, brokerage is RM9. The cap of RM100 will remain unchanged.​

✅ Applicable across Bursa Malaysia, NYSE/Nasdaq and HKEX markets
✅ Pay RM1 brokerage fees = 1 RT Point (previously is RM2 = 1 RT Point)
✅ Update your iSpeed.MY app to 4.4.0

Fractional investing - yes now in Beta testing stage. Hopefully we can announce it in coming weeks. Stay tuned.



This post has been edited by Rakuten Trade: Apr 17 2023, 11:46 AM

1. The rate changes daily hence if you want trade USD at one time only then you convert all at one time

2. Yes that’s right but based on your number it is about 3.5% hence why you need to account it in order to make back the money you need to make at least 12% per trade to cover back all the fees