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⚡ Quick Answer
Rakuten Trade is best for Bursa (Malaysian stock) investors who want zero brokerage on local trades. Moomoo is better if you want access to US, Hong Kong, and Singapore markets with powerful charting tools. If you only invest in Malaysian stocks, go Rakuten Trade — if you want global exposure, Moomoo wins.
Why This Comparison Matters in 2026
Malaysian retail investors have never had more options — and that’s both exciting and confusing. Two platforms dominate the conversation in 2026: Rakuten Trade, the homegrown brokerage backed by Rakuten and Kenanga, and Moomoo, the tech-forward platform owned by Nasdaq-listed Futu Holdings.
Both are SC-licensed, both let you invest from your phone, and both have genuine strengths. The question is which one suits your investing goals — and that depends heavily on where you want to put your money.
Platform Overview
Rakuten Trade
Launched in 2017 as a joint venture between Rakuten Securities and Kenanga Investment Bank, Rakuten Trade is Malaysia’s first fully digital equity broker. It’s regulated by the SC and focuses primarily on Bursa Malaysia — though it does offer access to US stocks via the Rakuten Trade Global feature.
Its flagship hook: RM0 brokerage on Bursa trades up to a daily value of RM100,000. For frequent local stock traders, this is a huge saving over traditional brokers that charge 0.1–0.3% per transaction.
Moomoo Malaysia
Moomoo launched in Malaysia in 2023 and quickly built a following among investors who want multi-market access. It offers trading in Malaysian (Bursa), US, Hong Kong, and Singapore markets — all from a single account. The app is known for its Bloomberg-style real-time data, advanced charting, and paper trading feature (practise without real money).
Moomoo is particularly popular with investors who follow US tech stocks like Apple, Nvidia, and Tesla, or want exposure to Hong Kong-listed China stocks.
Head-to-Head Comparison
| Feature | Rakuten Trade | Moomoo |
|---|---|---|
| Markets | Bursa Malaysia, US Stocks (Global) | Bursa, US, Hong Kong, Singapore |
| Bursa Brokerage | RM0 (up to RM100k/day) | From 0.03% (min RM3) |
| US Stock Brokerage | USD 0 (via Global account) | USD 0 (promotions apply) |
| Account Opening | Fully digital, ~3 days | Fully digital, ~1–2 days |
| Minimum Deposit | RM1,000 (initial deposit) | No minimum |
| Real-Time Data | Delayed (15 min) unless subscribed | Real-time for all markets |
| Fractional Shares | No | No (US market) |
| Paper Trading | No | Yes |
| Margin Trading | Yes | Yes |
| SC Licensed | Yes | Yes |
| Welcome Offer | Varies (check app) | Up to RM638 in rewards |
Brokerage Fees: The Full Breakdown
Rakuten Trade Fees
For Bursa trades, Rakuten Trade charges RM0 brokerage — a genuinely disruptive offer that has forced traditional brokers to cut their own fees. However, you’ll still pay clearing fees (0.03%, capped at RM1,000 per transaction) and stamp duty (RM1 per RM1,000 contract value, capped at RM200).
For US stocks via Rakuten Trade Global, it’s USD 0 commission per trade. Currency conversion applies when funding (typically around 0.5–1% spread).
Moomoo Fees
For Bursa trades, Moomoo charges a minimum of RM3 or 0.03% (whichever is higher) for standard users. This is still among the cheapest for local stocks, though Rakuten Trade’s RM0 offer is lower for most trade sizes.
For US stocks, Moomoo has been running unlimited commission-free US trades as a promotional offer in 2026 — do check the current terms as promotions change. Outside promotions, it’s USD 0.0049 per share (min USD 0.99).
Ready to get started? Claim Moomoo’s Welcome Reward Now — new users can earn up to RM638 in rewards.
Research Tools & Data Quality
This is where the platforms diverge most sharply. Moomoo wins by a wide margin on research and data.
Moomoo provides real-time Level 2 order book data (free), analyst ratings, institutional flow data, earnings calendars, and news feeds — tools that would cost hundreds of ringgit per month on Bloomberg or Refinitiv. The app’s charting is genuinely professional-grade, with 60+ technical indicators.
Rakuten Trade’s research tools are more basic. You get access to Kenanga’s research reports (useful for Malaysian stock investors), but real-time data requires a subscription. For Bursa stock analysis, the tools are adequate — but Moomoo’s interface is simply more powerful.
User Experience & App Design
Both apps are mobile-first and well-designed for 2026 standards. Moomoo’s interface is denser and more feature-rich — great for intermediate and advanced investors, but potentially overwhelming for beginners. Rakuten Trade’s app is cleaner and more focused, making it easier to navigate for new investors.
Rakuten Trade’s RTpoints rewards system is a fun bonus — you earn points for trading activity that can be redeemed for cash vouchers or Rakuten points. It’s a small perk but appreciated by frequent traders.
Who Should Choose Each Platform?
Choose Rakuten Trade if:
- You mainly invest in Bursa Malaysia stocks (KLCI, ACE Market)
- You want the lowest possible cost on local trades
- You’re a beginner who wants a simpler interface
- You trade frequently and want to avoid per-trade brokerage costs
Choose Moomoo if:
- You want to invest in US, Hong Kong, or Singapore markets
- You value real-time data and professional charting tools
- You want to practice with paper trading before committing real money
- You’re comfortable with a more feature-rich (complex) interface
Our Recommendation
For Malaysian stock investors, Rakuten Trade is the better choice purely on cost — RM0 brokerage on Bursa trades is hard to beat. If your portfolio is focused on local blue chips, REITs, and ACE Market stocks, stick with Rakuten Trade.
For investors who want global market access or use investing as part of a broader wealth-building strategy with US ETFs, S&P 500 index funds, or Hong Kong stocks, Moomoo is the stronger platform. The research tools alone justify using it as your primary platform. Sign up for Moomoo here and claim your welcome bonus.
Many savvy Malaysian investors actually use both: Rakuten Trade for local stocks (RM0 fees) and Moomoo for international exposure.
Frequently Asked Questions
Is Rakuten Trade safe and regulated in Malaysia?
Yes. Rakuten Trade is a Capital Markets Services Licence (CMSL) holder regulated by the Securities Commission Malaysia (SC). It is a joint venture between Rakuten Securities and Kenanga Investment Bank, both established financial institutions.
Is Moomoo regulated in Malaysia?
Yes. Moomoo Malaysia operates under Moomoo Securities Malaysia Sdn Bhd, which holds a Capital Markets Services Licence from the Securities Commission Malaysia. Your funds are held in trust accounts separated from the company’s own funds.
Can I use both Rakuten Trade and Moomoo at the same time?
Absolutely. Many Malaysian investors maintain accounts on both platforms. There is no rule against using multiple licensed brokerages simultaneously. This strategy lets you benefit from Rakuten Trade’s zero Bursa brokerage while accessing Moomoo’s superior international markets and tools.
Does Rakuten Trade offer US stock trading?
Yes, through its Rakuten Trade Global feature. You can trade US-listed stocks commission-free. However, the range of US stocks available and the research tools for US markets are more limited compared to Moomoo.
What is the minimum amount to start investing on Moomoo Malaysia?
There is no minimum deposit requirement to open a Moomoo account. However, you need sufficient funds in your account to execute trades (at least enough to cover the cost of your chosen investment plus fees).
Which platform is better for EPF i-Invest withdrawals?
EPF i-Invest (Account 1 withdrawals for investment) is only available through approved fund managers — neither Rakuten Trade nor Moomoo qualifies as they are equity brokerages, not unit trust management companies. For EPF i-Invest, you’d use platforms like Rakuten Trade’s unit trust section, Versa, or StashAway (if approved).
