From experience: STAY AWAY from TA Securities. If you don't know/don't ask, TA starts you off with the highest fees (0.7% or RM40!) - UNLESS you do your homework and ask why you're paying so much compared to other firms. Then like magic, your remisier will tell you brokerage fees are negotiable. Mine lowered it to 0.6%. My remisier has never been proactive. Neither has he assisted me once throughout my years with them, including my online trading access setup, how to use, etc. Perhaps because I'm not an active trader. But the final straw came when I decided to call their office directly (bypassing my remisier) and found out they have an 'online traders discount' - 0.4% or RM 28! When I forwarded this info to my remisier and asked for an explanation - he went silent! It was clear to me my remisier was acting in his best interest - not mine. I also did not appreciate TA's dodgy approach to fees. Never upfront unless you prod and swerve. When I asked TA Management what action would be taken, they said my remisier was apologetic, that it had been a busy last few weeks in the stock market, and he was 'reminded' not to neglect clients in future.
Speechless.
Horrible experience. Looking to switch to either Maybank or Rakuten
Anyone trading with Rakuten Trade? Can give some reviews of the trading system, the brokerage rate, deposit & withdrawal procedure and speed. If good, can be my referral to get the RT points. Thank you
Someone said rakuten will issue nominee account to clients. Not so good coz our stocks in mcd will be controlled by rakuten. Any request for transfer or rights application must go thru rakuten.
Just try to avoid those brokers with a lot of hidden charges & restrictions once you start trading. Extra contra charges or fees, high interest rates, pushy or restrictive on your collaterals, push you to call customer service or whatsapp only, system delay or down often, and etc etc. Cheap sometimes so troublesome, especially when need assistance to subscribe or calculate positions.
ctht151, I m using Maybank Investment Bank (MIB). You start off at 0.42% or arM28 n depending on your trade column and negotiation can reduce up to 0.2% or TM20 while contra from 0.42% to 0.q5%... for upfront money. if u trade oneself better if you got time can get lower brokerage costs
Hi I am still new to this. I edy open the account using Bursa Anywhere apps, choosing kenanga and cimb as broker. I want to change it to Rakuten and Mplus. How to do it? Can someone explain it for me. Thanks in advance
Hi. Im new to trading. Is Rakuten deal with syariah stocks as well? I see their fee is cheaper than bank. Any idea why some broker charge very much for example like Kenanga?
@moneytree88 u can download (Bursa anywhere apps) to active back your account,,just RM5 fee to reactivation of a dormant CDS account..Or u can open another account if u want.. 1 broker for 1 account..u can open more than 1 account..up to you..
@DzulY74..Rakuten can buy and sell all stock at Bursa either shariah stocks or non-shariah stock. Rakuten is a Nominee account, cannot buy IPO..it's Better for newbie to start invest at Bursa if they have Rm1000 below. some broker charge higher coz they have different features. some of them have features-Stop limit/Cut loss/screener/live chart/indicator/Alert/transaction History..some broker dont have.
hi, I am new to Trading. what is required to be done for Paperwork on corporate actions (eg. Rights issue, takeover offer)? What is the difference if managed directly vs Managed by Broker?
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?
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 2938 views | 2 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
Bill77
1 posts
Posted by Bill77 > 2020-08-13 08:37 | Report Abuse
From experience: STAY AWAY from TA Securities. If you don't know/don't ask, TA starts you off with the highest fees (0.7% or RM40!) - UNLESS you do your homework and ask why you're paying so much compared to other firms. Then like magic, your remisier will tell you brokerage fees are negotiable. Mine lowered it to 0.6%. My remisier has never been proactive. Neither has he assisted me once throughout my years with them, including my online trading access setup, how to use, etc. Perhaps because I'm not an active trader.
But the final straw came when I decided to call their office directly (bypassing my remisier) and found out they have an 'online traders discount' - 0.4% or RM 28! When I forwarded this info to my remisier and asked for an explanation - he went silent!
It was clear to me my remisier was acting in his best interest - not mine. I also did not appreciate TA's dodgy approach to fees. Never upfront unless you prod and swerve. When I asked TA Management what action would be taken, they said my remisier was apologetic, that it had been a busy last few weeks in the stock market, and he was 'reminded' not to neglect clients in future.
Speechless.
Horrible experience. Looking to switch to either Maybank or Rakuten