Rakuten: Account openings up 100%

Rakuten Trade managing director Kaoru Arai(pic) said: “We attribute the high volume of appeal to many now working from home and other brokers still requiring some form of face-to-face contact.

KUALA LUMPUR: Rakuten Trade Sdn Bhd, Malaysia’s only fully digital equities broker, reported a surge in account openings during the movement control order (MCO) period in the midst of the Covid-19 crisis.

More than 11,000 new accounts were activated, which was also a 100% month-on-month increase, out of which more than 64% were during the first phase of the MCO period alone.