There have been people and companies that have misused Rakuten Trade’s name and falsely represented it in various online investment scams, says the company in a statement on Saturday (July 18).
“The public is advised not to entertain such claims as these are fake, and Rakuten Trade has no affiliation with these unauthorised parties.
“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,” it said.
The statement came following media reports in the last 36 hours on online platform scams allegedly involving the company.
“We have reported those individuals and companies with the police and the Malaysian Communication and Multimedia Commission (MCMC), as well as placed notices on our website and social media channels,” the company added.
Rakuten Trade also said it held a restricted capital markets services licence issued by the Securities Commission Malaysia (SC), which allowed it to conduct equity trading activities and provide investment advice as a licensed broker.
The company is the country’s first and only fully digital equities trading platform.
“All trades are directly executed by our clients using the official Rakuten Trade website, www.rakutentrade.my or via the Japanese trading app iSpeed.my,” it said.
For further information, it said, the public could contact Rakuten Trade on 1800 88 6011 or email us at firstname.lastname@example.org.