Kenanga-Rakuten online trading platform eyes 30% retail market share

Bursa Malaysia and the ringgit have come under heavy selling pressure in recent months

KUALA LUMPUR: Malaysia's first fully online trading platform, iSPEED.my aims to capture up to 30% of the country's retail market share in the next two to three years.

The mobile app was launched on Thursday by Rakuten Trade Sdn Bhd, the joint venture between Kenanga Investment Bank Bhd and Japan-based Rakuten Securities Inc.

The platform offers the country’s first online CDS account opening, as well as fully-online system that connects directly to the stock exchange and eliminates the need for human intervention.

It also offers among the country's lowest brokerage rates.