Have both Rakuten and M+. M+ is better because it's direct CDS, you get to handle corporate action and attend AGMs, also less restriction of what stocks are tradeable.

Rakuten has more downtime than M+.

Will we get free warrants issued by companies if I'm using rakuten trade ? Is there a delay compared to direct cds? Thanks!

Hi, How do you know if your CDS is direct or nominee? Currently, using Apex Trade. The broker fee is too high
Think of moving to M+.

Is there a fee to manage the dividend payout?

This post has been edited by HuiChyr: Dec 3 2021, 07:15 PM

Just to ask generally, for those DAY TRADERS. Do you report your capital gain for tax? I believe if frequent trading then it's applicable to income tax.

I think it's due to the type of CDS account; DIRECT or NOMINEE. DIRECT means you own the account hence you can just change broker using the same CDS (Direct) account. But for NOMINEE account, you are using the broker's CDS account hence you must transfer all the stocks to a NEW CDS account. The new CDS account depends on your broker whether the allow direct or nominee.

Not quite true, you have to pay the same fee whether you have direct or nominee account.

In Malaysia, your NRIC name is still on the nominee account, but like "Kenanga on behalf of HuiChyr" like that. That's why you still can do stock transfer between them under the same beneficiary.

Traditionally, nominee CDS account should cost more money, but Rakuten Trade flipped it around.

The choice between them is pretty simple.

If you live outside of Malaysia, use nominee CDS; if you want to attend AGM and subscribe to IPO, use direct CDS; best - have both accounts.

I will vote for UOB - free Chartnexus

if you can "see" your cds account in bursa anywhere that's mean it is direct cds.

This post has been edited by KanGz: Dec 5 2021, 12:43 PM

M+is direct CDS, the companies you have shares in directly bank in to your bank account.

Thx for the replay guys

I thought malaysia no capital gains tax yet? Right now there's talks on it only: https://www.theedgemarkets.com/article/govt...nesses-windfall

Next year stamp duty for buying shares will increase to 0.15 cents though (Bursa) so will hit on your profit as day trader.

Right now concern is FSI.. Foreign income. Starting next year. Not sure if sell shares overseas bring back to Malaysia will kena tax or not. Need to wait bill approved see how.

This post has been edited by Davidtcf: Dec 9 2021, 09:39 AM

Thx for the information bro

Hi all - i'm new to investment. after read through this thread seems like M+ is the best online platform. i have signed up with M+.

i would like to also have another backup account, prefer to tie with a bank, any recommendation for bank with lowest brokerage fee? hong leong?

thanks!

Lowest fees is mplus. People go for other brokers is if they want a better interface for trading. Not sure about others which are recommended. Can check Ziet Invest youtube he got do comparison before

affinhwang einvest. <10k is RM5 flat rate

thanks - will check it out.

thank you!

Hi guys. Bit stupid question, but for Mplus account, it says doc required is NRIC and Malaysia incorporated Bank account statement.

Question:
1. For NRIC, can I just scan my IC using phone and upload?
2. How do I get the bank account statement? Do I have to go to bank branch and request for it then scan? Or is there something else?

1. Yes. Just scan or take photo of your IC
2. Download the bank statement from your bank website and submit. You also can request bank statement at branch but it's more inconvenient la.

any platform cant split screen. mean total useless ..

seriously already 2022..

Anyone using Cimb Itrade for foreign stocks? I've noticed the processing fee for dividend is very high, basically eat up the dividend. Why are they charging us that?