Recently Rakuten Trade was in the news where local television station 8TV reported that Rakuten Trade was one of the black listed companies by securities commission. The report is extremely damaging because the particular Rakuten Trade company being referred to by 8TV was an imposter company of Rakuten Trade. Scammers used the official Rakuten Trade and create their own Rakuten Trade company together with social media handles that sounded like the official Rakuten Trade.
Therefore, Rakuten Trade is just being a victim of identity theft of the greatest level. Rakuten Trade is also not alone being a victim, even the Islamic robo advisor Wahed Invest also is a victim of identity theft. There are individuals posing as official Wahed Invest company creating investment packages that promises extraordinarily high returns. Recently a lot of local Malaysia influencers are also being targeted by imposters who pose as the influencer and try to lure their followers to purchase questionable investment packages. Identity theft in social media is currently a really big problem and can easily mislead people and cause confusion.
The conclusion is Rakuten Trade is legally a license stock broking company in Malaysia. It's is a partnership between Japan's Rakuten group and Malaysia's Kenanga Investment bank. In addition to that, Rakuten Trade has already lodge a police report on individuals/companies that are misusing its name to promote online scams and pyramid schemes. The report is here.
The response from the "real/official" Rakuten Trade is as below
Securities Commission Malaysia to deal in listed securities and provide investment advice.Since 2017, we have been Malaysia's first and only completely digital equities broker. Rakuten Trade is listed on SC's Public Register of Licence Holders. Check out the link 👉https://bit.ly/30iACur
We are aware of the articles that have been published last night and believe they were inaccurately reported as Rakuten Trade is licensed by the Securities Commission Malaysia.
We are also aware of companies and individuals claiming to be representing Rakuten Trade or a company with a similar name. We have made reports on those individuals/companies with the police and MCMC as well as placed notices on our social channels.
We strongly advise our clients to always use our official website www.rakutentrade.my when making enquiries and or conducting trading activities
The list of companies listed reported on 8tv which are as follows :
IQ Option, Olymp Trade, i-Rakyat Trade, Global Investment, Wei Jian Zhi, AA Anthony, Global Trader, People Global Network, Rakuten Trade, Wine Exchange China, GWFX Global, Private Investment Trade Dubai and London Stock Exchange.
🔗Links
https://propfessor.blogspot.com/2019/11/wahed-roboadvisor.htmlIf you feel my article has given some value to you, you can sign up for Rakuten Trade to trade and buy Malaysia stocks using my referral code 4ffdWBHYBI.
