hi,

i am new in this field .. i want to know a few thing before i open account with osk188 ..

1. do they need pay slip to open and activate the account?
2. how much is the minimum deposit needed before we can start stock trading?
3. let say i want to buy 1000 units of stock worth RM2/unit, what is the amount should i pay? (includes all those tax, charges, fees, etc)?
4. let say i want to sell 1000 units of stock worth RM2/unit, what is the amount should i pay? (includes all those tax, charges, fees, etc)?
5. do i need introducer to open the account?

please share your knowledge . i am new in this field and looking forward to start in stock trading . tq ..

1. As far as I know, the only requirement is you fill up their form sincerely. Which also happen to ask you how much you are earning. But no payslip required as far as I remember.

2. Normally they will ask you to deposit RM1000 in a trust account before they allow you to make orders. But as you trade and make payments. They will slowly allow you to make bigger purchases although you do not have the same amount in your trust account. Of course, you still need to pay on time. They will pay you 2% per annum interest on a monthly basis as long as you have at least RM1K in your trust account.

3. 1000 x RM2 = RM2000

RM2000 +( 0.6% or RM40 whichever is higher) + (0.03% clearing fees) + (RM1 Stamp duty for every RM1K) = RM2043.60 is what you have to pay. RM43.60 is the additional charges you have to pay your broker.

4. 1000 x RM2 = RM2000

RM2000 - (0.6% or RM40 brokerage charge, whichever is higher) - (0.03% clearing fees) - (RM1 stamp duty for every RM1K) = RM1956.40 is what you will get after you sell. RM43.60 is the charges you need to pay your broker for the 'SELL' transaction.

5. You do not need an introducer, but you have to talk to a remisier/dealer/broker for them to assess you.

The charges above applies to broker services where you call your broker and he makes the transaction/order for you. Online charges are cheaper on the brokerage charges, as low as RM12 minimum.

what is the different between online and offline transactions? is only we key in everything sell and buy by our own while offline is we call our remiser to do it for us? am i correct?

brokerage fee is set to rm40 for offline transaction right while vary charges for online depends on broker is it?

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Added on March 26, 2008, 8:19 am1 more thing,

is it legal to buy stock today and sell it back on the same day?

For 'offline' transactions, you have to call your broker and let them know what you want to do. They will key in the transaction for you and let you know by phone when the order is filled. But please do not think a remisier/broker is like a secretary, doing whatever you tell them to do. They provide a service of advice, opinions, rumours and also can be a good teacher if you are new. Basically they are suppose to be professionals in their fields and are the best person to ask regarding the stock market.

For 'online' transactions, you can key in your orders personally at home/office without interaction with anyone. Whatever you key in and submit will be sent towards the broking house database of orders and is executed by them. Because there is no services of brokers/remisiers provided, you get a cheaper rate from the transactions. Although online transactions seems cheaper and more cost effective, I would strongly recommend you engage a service of a broker to better understand the stock market trading arena. At least until you are entirely confident of your own abilities before venturing into online and cheaper alternatives.


Yes it is legal to 'BUY' and 'SELL' on the same day. Brokerage rates are as low as 0.15% for 'DAY' trades.

Tumpang thread...........

If let say i already has an OSK trading account, and all the while I'm doing my buy and sell thru a broker. If i open an OSK online trading account, how much i need to pay for each transaction? RM40 or Rm28 for the service charge?
Will my broker get the broker fees if i do online trading?

online service will be RM28, through broker is RM 40.. your broker still get a cut in the fees, just only less.

RM28 if u do trading via online
RM40 if u call up to trade

So the procedure for online trading is the same??
Open the account, trade online, then bank in the amount in T+3 day rite??
For selling, how can i get back the money?? OSK will directly bank in to my bank account? (maybank)

for Apex, they bank in(by check) directly to my maybank account after T+3. i think others will be the same.

Yes u r correct

chun..........thanks all!! will be getting the online trading account tonight, cheaper service charge lah............

in cimb itrade stock right, they need rm10k deposit (min) before we can start trading with as low as rm8.88 brokerage fee.

if i open cimb one, can i withdraw the money from rm10k, let say rm3k on the next day after success the registration? is it possible?

to get 8.88rm brokerage fee, how much is the limit? tell me the details please .. thank you ..

tumpang thread again.
i already got my online osk trading account.
I log in by selecting the Real Time Prices tab.
Then at the lower right side of the page, there is a Live Trading Pad for me to do the trading.
It has the option of keying in the stock name, Quantity, Price, Session, Account and Trading Pin.
1. What i'm confuse is the Quantity. Stated there is Lots x 100, what does that mean??
One lot means 1000 unit rite? If i key in '1' in the box, means 1x100 = 100 lots ah? meaning the minimum purchase is 100 lots ah?? too much gua........
2. Can i purchase less than 1 lot, like 500 units?
3. And wat is the Account box for?? to key in my osk account number??
Plz help, thanks.

1 LOT is 100 shares. That is the standard Bursa LOT. Long time ago was 1 LOT = 1000 shares. Now it is 1 LOT = 100 shares.

Your account has an ID, which you need to key in in the account section. Your trading PIN, you should know.

To know what is your account ID, just click on the "Account" tab beside the "Order Status" button at the bottom as well. This will bring up a small window with states your account ID, your name and your account type.

So to buy 500 units/shares, just key in 5 lots. Which means 5 x 100 shares.

oh...........but when i communicate with my remiser, i say buy XXX 1 lot, she key in 1000 units for me leh........... Meaning if i buy XXX at price 1.00, i have to pay OSK RM1xxx leh...........

Confirm with your remisier lah. Tell her you want 500 shares or 100 shares instead of 1 lot. Officially, 1 lot = 100 shares now. Myself also still refer to 1 lot as 1000 shares when chatting at the kopitiam

Your remisier is old school.

To prevent confusion next time. Don't quote in lots. Instead of saying buy 5 lots, say buy 5000 shares or 500 shares. No confusion then right? Always confirm with your remisier/broker the amount you need to pay to ensure he/she key in correctly.

icic, old school remiser...............aiya, luckily got lowyat, haha...........
thanks all.

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Added on April 1, 2008, 12:27 pmAfter placing order using online trading, then i select the Order Status tab, i can see my status is RECEIVED.
so how to check the amount of money that i need to pay?

Technically, yu haven't paid for the shares yet as it will only be settled on T+3.

i know i haven paid for it, but how to check the amount that i need to pay?

And this is wat i got from the order status

Date/Time Account Type Short Name Order Price Source Status Original Cancelled/Reduced Matched Remaining

0000xxxx Buy TIMECOM MYR0.500 Phone IN MARKET 2000 0 0 2000
0000xxxx Buy TIMECOM MYR0.500 Internet UNMATCHED 2000 2000 0 0


I try placing order thru online trading service and this is wat i got.
Y the SOURCE got 2? which is Phone and Internet.
And wat does the readings mean??

I normally call my remisier for ordering, so this does look a bit confusing.

I suggest you check under real time prices tab at the top, click the account info, and check your order status and past transactions there. It should be reflected within 24 hours.

osk online question.

1. When i select XXX share, then i click the buy button, then click on the bids button, there will be a table stated bids/offer, price and qty.
the quantity, is it the qty x 100 or its the exact number of queueing?

2. Another question is that.......many forumers here know that for ex:
XXX share got someone buy at 1.00 for 100 lots, then someone sell at 1.2 for 100 lots.
From where can i get that precise information??

3. Let's say i've submit a sell request for share XXX at price 1.00, when will the system update whether it is successful or not? or how u guys know in a shorter time? by calling the remiser to check the status after submitting the request online?

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Added on April 15, 2008, 4:35 pmCant access osk188 now? only me or their site down?

1. The quantity stated is always in lots. So when it shows 50 lots or 76 lots, just multiply by 100 shares. That is why when you try to place a bid/offer, you key in the number of lots. At the side there is an indication of 'x 100' which is telling you 1 lot equals to 100 shares.

2. Unfortunately OSK188 does not time and sales function that I know of. You can get this from third party website like Invest Asia Online where you need to register for a basic account and then you can access the time and sales report of Malaysian counters.

3. The bad thing about online transaction is that there is no one specific person to call to ask this kind of questions. You have to put your faith in the system and wait for it to update in order for you to know. Time for the updates depends on the system lag, connection lag, etc. For fastest response, get a remisier/broker that let you know whenever your transactions are done. Pay extra surely got benefits you know

osk online question:

I registered a CDS account with OSK(not nominees) before I register OSK online trading. I subscribed a IPO with this CDS account.

My question is, can I sell this IPO thru online or I need to get a remiser to sell it off?

If you are successful in your IPO application, you should be able to sell it online as well as long as it is credited to your CDS account.

Edit: Deleted, read Cheeroy's correct explanation instead.

One only can have one CDS per investment house or broker house. But one can have mutiple CDS account with different broker house.

For non-nominee account,

If one bought xx share in OSK, then it wil be credited into your CDS that open in OSK.
But if one bought yy share in CIMB, then it will be credited into your CDS that open with CIMB.

Those CDS accounts are not cross-linked and remain as individual one. Aka even you have xx share in OSK CDS account, you can't sell through CIMB even though you have the share. Unless one transfer it to the OSK CDS, otherwise one needs to sell through CIMB.

But one can have 2 trading account with OSK, but only 1 CDS account can be opened with OSK, you can't have 2 CDS account with the same investment house and it will be shared among the 2 trading account.

Hope this clear up a bit.

Thanks for the correction cheeroy. I was under the impression I can only have 1 CDS account but didn't know can open another with a different broking house. I thought must use same CDS account.

As per KLSE FAQ;

'Can I open more than one CDS account?
An individual investor is allowed to open only one (1) CDS account with each ADA. However, a corporate investor may open multiple accounts with the same ADA.'

ADA = Broking houses.

Welcome, I knew because I have multipe CDS with different broker house.

thanks you

Hmm...the IPO I bought is thru OSK CDS account. So means I can sell it online using OSK online trading?

But I tried that b4, the system doesn't allow me to do that. It said I did not have any stock for that share.

You need to check with OSK whether the IPO shares had been credited into your CDS already or not.
or
Check with OSK regarding the online trading restriction/problem if the shares already being credited into your CDS.

Is confirm the IPO is credited into my CDS account coz I got received the dividen before from this IPO.

CIMB itrade or internet trading

- minimum brokerage rm12 or 0.43% whichever higher (osk188 min rm28)
- no need minimum deposit (clicks trader need to put in 10k minimum)
- no need minimum amount inside trust account to earn daily interest at around 3%. (Osk 188 need to put in min rm5000 to earn interest)

Have you ever got any letter from Bursa Malaysia regarding your CDS account balance?

If you say you've already received the dividend, that means the share should be reflected in the CDS account already. So not sure why OSK can't seem to process your transaction. Best is still to call them and ask.

Can i know what factors you all consider when open a CDS account with any bank ?

cds with bank backed broker i.e cimb .

Benefits : transfer of funds fast..from savings / current account to trust account seamless through internet.

Funds clearing ..i.e proceeds from sale of shares fast 1 day only. Non bank backed brokers will need minimum 3 working days.

Accesibillity of service is one thing.

When you want to open a CDS account, you have to be present in person. So definitely somewhere not too far from where you live is good.

Quality of service. There are quite a few complains from Maybank2u users about the inability of using their trading platform during peak hours of trading. Not saying their service is bad, just that you have to judge if the service you are getting or the lack of it is worth you losing your money due to it.

Ease of payment. If you happen to need to pay your broker for your shares, how easy or convenient would it be to you. Is their office nearby? Different modes of payment available? etc.

After sales service. Broking houses depend on repeat customers to survive, so most of them has quite a good rapport with their customers. So if you happen to find one that hardly cares if you get the attention you need, maybe should find one that readily service you.

Trading platform efficiency. All broking houses have their own version of online trading platforms. Some has basic features of viewing prices and trends, some has up to date KLSE news. Even some has daily research and recomendations. All available in the comfort of your home or office.

Integrity of the Bank. Somehow subjective because most people would think the biggest ones are the best. But ever wondered if they are so big, what makes us think that small timers would even get any attention compared to their multi millionaire customers. And with thousands of people as their customers, are you even worth listening to if you have a complaint? So big is definitely not always good.

Rates. Online prices have become quite a hot topic these days with people looking at the best deals ever for minimum brokerage fees especially for online transactions. Just to remind the folks that online trading has little or no human interaction, meaning if you screw up a trade like buying a expiring dead warrant, the PC is not going to talk you out of it.


Thats about what I can think of at the moment, but the chief reasons should be the convenience of trading and the quality as well.

Hi,

I also a qute new member in share, just wanna tumpang some question.

1. Lets say my friend buy a share with price RM6.35 per unit for 1000 units, but the osk188 charge him about RM6,386.91.. May I know how to calculate it the charge fees?

2. How about if lets say he plan to sold the share with price when RM6.6? How much he will earn and how much getting charge?

Need your advise.. thanx..

There are 2 kinds of brokerage rates out there, online rates which is 0.42% or a minimum of RM28(or less) which ever is more and 0.6% or minimum RM40 for trades with remisier/broker whichever is more.

On top of that, you need to pay 0.03% for clearing fees and also RM1 for every RM1000 as stamp duty.

1. I assume your friend uses online trading so the breakdown would be;

RM6.35 x 1000 shares = RM6350 purchase

RM6350 + 0.03% = RM6351.91

RM6351.91 + RM28 brokerage fees = RM6379.91

RM1 for every RM1000 means for RM6379.91 = RM7 stamping duty

So your final price would be RM6379.91 + RM7 = RM6386.91 (RM36.91 of brokerage fees and stamping duty)


2. If your friend decides to sell at RM6.60, the calculation will be;

RM6.60 x 1000 shares = RM6600 sales

RM6600 + 0.03% = RM6601.98

RM6601.98 + RM28 brokerage fees = RM6629.98



RM6629.98 + RM7 stamping duty = RM6636.98 - RM6600 = RM36.98 brokerage fees

Profit therefore is RM6600 - (RM6379.91 + RM36.98) = RM183.11

How come when u sell the share, you add the brokerage fee,0.03% and stamp duty to the sales? Shouldn't you minus them off?

For every transaction, you will be charged the brokerage fees, clearance fees and stamping duty. Those are the costs of the Buy as well as Sell transaction.

So we have to add it in, because you don't gain from it but have to pay it. That's why its a added the costs and minus from profit generated. The only profit/loss you get is the difference in prices of the share, the charges and fees you have to pay no matter you make money or not.

Skid,

Your calculation make him confuse.

Net sales amount = 6600 - brokerage fee = 6600 - 36.99 = 6563.01

Net buy amount = 6379.91

So net profit = 183.1

Still the same. Just he might be confuse the way you compute. Make it straight forward, then he can see more clearly and easily.
You method still right, just the way of the calculation, he might not see it.

Yeah I tried re-reading it, and it turn out a bit confusing without more explanations of the calculations.

deleted

I think ur calculation wrong already,although the final amount is same

My calculation is:
RM6.35 x 1000 shares = RM6350 purchase
RM28 brokerage fees
RM 6350 X 0.03% = RM1.91
RM1 for every RM1000 means RM 6350= RM7 stamping duty
TOTAL All together = 6350+28+1.91+7 = RM 6386.91

All the 0.03% and stamp duty is calculate base on the share value only
Any 1 know which 1 is correct caculation?

i m planning to switch to HLE brokerage lah.. osk is abit expensive right? anyone using osk188 now? comment pls.

Yes you are correct, the 0.03% should be added on the purchase price. Not after adding the brokerage fees. Thanks for pointing that out, I'm editing it.

do u mean total 2 transaction buy and sell fees and charges is RM 87.20 ?

mean we need to sell at min price 2.09/unit to make profit from the stock?

RM 2.09 * 1000 is RM 2090.00

RM 90.00 - RM 87.20 is RM2.8

so our profit is RM 2.80

am i right for my calculation???

Is nominee or non-nominee account will affect the way of given dividen / financial report ? For example , they will issue cheque(dividen)under OSK name to OSK , then OSK only will issue cheque to us under our name ? Or financial repost will post to OSK then only OSK post to us instead of direct post to us ?

It is not straight forward like that, if you sell at 2.09 then the charges for the SELL transaction will be on the RM2090.

Thus, RM2090 + (0.6% or RM40 whichever is higher) + 0.03% + RM1 (for every RM1k) = RM 2133.63

Your charges for the SELL transaction is 2133.63 - 2090 = RM43.63 ( notice the RM0.03 difference because it is based on the SELL price)