I started my investment journey with a nominee account (Rakuten Trade). But later this year I decided to switch into a direct account (Malacca Securities) after I found out their differences...
I tried the calculate function on MPLUS to simulate the amount of brokerage I have to pay. But the minimum is RM40 Brokerage fees charged, but isn't the advertised fee RM8?
@benjikoh, my account is M+ silver account (cash upfront), charged a minimum of RM9.70 per contract including stamp duty and clearing fees. You can ask your remisier/ dealer representative what type of account are you using to buy/sell. If your remisier does not reply to your message, it's time to change from M+ platform to others.
Newbie here, I hear that if using Rakuten, all shared purchased will park under Rakuten account not park under our individual account, is this statement correct? If park under Rakuten, we wont be recognize when AGM it's?
Like MrBorneo26, I have accounts with both Rakuten and MPlus. My recommendation is to open account with more than one broker to compare stock recommendation and monitor stock performance if you can. As for the reason why Rakuten operate using nominee account type is because in addition to cash account which require cash to be deposited first before you can trade they also provide contra and margin accounts which require your stocks to be collateralized. The advantage of contra account over cash account is that you can trade and settle later (T+2) hence very useful for short term trading. As for the reason why I like Mplus other than cheap brokerage is because they provide very good market and stock updates and conduct free seminars for their clients very regularly.
Hello All. I am Newbie here. Just wish to know do I just need a new trading CFD account only to start trade or I can just sign up with one of the broker & this will come with the CFD account? Thanks
hi, for long term investment purpose, fund size > 1mil, do u guys think it's good idea to buy with Rakuten platform first due to cheapest charges, then later pay RM10 transfer the stock to other bank platform like RHB, Maybank, UOB KAylian for faster Dividends and safer security?
@i3lurker Hi Thanks a lot... Yes after requesting they have reduced it to RM12 now... It is sad that even the broker didn`t advise about it, she insisted the minimum was RM28 last month.
Ahh that easy for rakuten, lets say you want to buy hartalega, just go to bursamalaysia or if got other trading acc with cgscimb or kentrade you can check there, syariah complince or not :)
@msbr91. Often not enough limit although I have shares. Keep asking me to top-up money. Ask why? don’t want answer. Ask further, then only say company got restrictions. Ask what restrictions, cannot disclose to me. I am tired.
Do we have a similar comparison for a corporate trading account? There are lots of info on individual trading accounts, the cost comparison, pros and cons, etc., but literally none (afaik) on corporate accounts.
There is a catch on CIMB Clicks 0.0388% brokerage rate with minimum $8.80. Minimum $8.88 is per matched Order. Say you have 3 matched order, each trade value 10,000. Total brokerage is 8.88 * 3 = $26.64. Not 30,000 * 0.0388% = $11.64
Malaysia increase stamp duty from 0.1% to 0.15% from 2022. Many countries don't impose stamp duty for stock trading, including Singapore, US. While China impose 0.1% on the selling side only. Also, Malaysia stamp duty still apply when you invest in foreign market through Malaysia broker.
Why online trading, remisier still get paid from broker, not really understand because i invest my money and did not rely on my remisier, they still get paid, what an easy job lol.
Actually 0.15% stamp duty do not apply to all stock type 0.10% still apply to Warrant, REIT, Trust, Close-ended Fund. While ETF, no stamp duty until 2025.
Hi I started my investment journey with AmEquities LYH. Their support team members are responsive and friendly in guiding me to open the trading account.
They provide many benefits too. It is free to open a trading account with them and I can use the MQ Trader Stock Analysis System for free too! That system is quite nice to use and did make my investment journey easier!
the early morning queueing is another factor. Some cheap cheaper cheapest, you will find that your morning queueing, you will always be the last one in the queue.
and each and every day until Jesus comes, you will always be the last one in the queue.
You want cheap mah? so dun expect people to work hard when you pay them peanuts monkey wages. 🤣
your broker could be maybank or Maybank Investment Bank. please check.
open your mouth to complain and you will get cheaper
Posted by Meena12 > Aug 22, 2021 7:22 PM | Report Abuse
Hi, Maybank is charging me a minimum of RM28 per transaction for both sale and purchase... Is that normal, or please advise if I am paying high?
2021-08-22 19:29" ===================================== It is highly unethical on the brokerage institution to keep mum on fees. This shows discrimination exist even in financial sectors. It is unprofessional ethics exercised by the financial institution. How are they able to lower fees more than 60% from the usual fees after negotiation? This is criminal act.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Journey to Financial Independence
214 posts
Posted by Journey to Financial Independence > 2021-04-03 13:39 | Report Abuse
I started my investment journey with a nominee account (Rakuten Trade). But later this year I decided to switch into a direct account (Malacca Securities) after I found out their differences...
https://klse.i3investor.com/blogs/DirectNomineeAccount/2021-04-02-story-h1563151774-Direct_Account_and_Nominee_Account_Which_One_is_Better.jsp