KUALA LUMPUR (July 18): Rakuten Trade Sdn Bhd, which operates a fully digital equities trading platform, has lodged reports with the police and Malaysian Communications and Multimedia Commission against individuals and companies who have misused its name and falsely represented the firm in various online investment scams.  

In a statement in response to recent media reports highlighting the proliferation of online platform scams in Malaysia, Rakuten Trade reiterated that it holds a Restricted Capital Markets Services Licence issued by Securities Commission Malaysia (SC).

It said the licence from SC which it has held since April 2017 allows the firm to conduct equities trading activities and provide investment advice as a licensed broker.

“Rakuten Trade is also listed on the SC's Public Register of Licence Holders.

“Whilst Rakuten Trade is a legitimate business operator, there were individuals and companies who have misused the name and falsely represented Rakuten Trade in various online investment scams.  

“The public is advised not to entertain such claims as these are fake, and Rakuten Trade has no affiliation with these unauthorised parties,” it said.

Besides lodging reports against those individuals and companies, Rakuten Trade said it has also placed notices on its website and social media channels.

The firm said all trades are directly executed by its clients using the official Rakuten Trade website www.rakutentrade.my or via the Japanese trading app iSpeed.my.

For further information, the public can contact Rakuten Trade on 1800 88 6011 or email at customerservice@rakutentrade.my