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 What is the best online broker malaysia?, opinions

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500Kmission
post Mar 29 2014, 09:09 PM

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I am using MBB, it charge min RM8 and also charge dividend min rm2.50. Is the min charge for dividend same to every bank?
500Kmission
post Apr 1 2014, 11:53 AM

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QUOTE(tehoice @ Mar 31 2014, 09:19 AM)
this is the nominee account right?

so MBB will just credit the "dividend receivable by you" minus RM2.50, into your account right away??
*
Yes.
500Kmission
post Apr 2 2014, 04:35 PM

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Why then some PO want their clients to open Nominee CDS?

The simple answer is for collateral purpose.Shares in Direct CDS account is under your direct control and you can request to transfer out the shares to another CDS account of your name, or to your family members' CDS account with proper documentary evidence,without any hindrance.But if you ever wish to transfer out the shares in the Nominees CDS account,the consent of the PO is required although it's your shares.

Typically,most online broking that offers cheap brokerage requires your share to be kept under Nominee CDS account.

There are four distinct disadvantages of using a Nominee CDS:

you can't use a Nominee CDS to apply for IPO(initial public offers);
if you wished to attend the AGM of the investee company,you must get the PO to appoint you as a proxy;
if you wished to transfer out shares from your Nominee CDS to your relative's CDS ,you must first transfer the share from Nominee CDS to your Direct CDS ,then proceed to transfer the share to your relative's CDS .Whereas for shares in Direct CDS,there is only one step where you transfer direct from your CDS to your relative's CDS;.This apply to transfers that entail change of beneficial ownership.(edited on 27/02/09 to correct an earlier fundamental error.)
POs charge you a service fee for all dividends received and paper works done such as accepting rights issue or other corporate exercise that involve filling up of forms.

Answer from http://lklatmy.blogspot.com/2008/08/differ...ct-cds-and.html

This post has been edited by 500Kmission: Apr 2 2014, 04:44 PM

 

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