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 What is the best online broker malaysia?, opinions

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Boon3
post Sep 2 2015, 06:30 AM

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QUOTE(carrer @ Sep 2 2015, 05:25 AM)
Hello,
I was transferred here from 'https://forum.lowyat.net/index.php?showtopic=3696882&st=0&p=76181198&#entry76181198'

There are a few brokers which interest me because of their commissions. However, due to convenience, I would prefer HLeBroking. Is there any remisier here who I can contact?
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QUOTE
It's true. But I don't actually need a sophisticated platform. Just a platform with price charts is adequate.

Cheaper commissions will save you a lot of money, especially when your positions are large.

Thanks.


Back to your 'old' reply.... before the lockdown... lol

1. Most offer charting software... but not all the same.
Some is really 'useless' la...
and some system is not even reliable and they offer terrible 'service'....
some has teething problems whenever one banks in or withdraws......
so....the cheapest brokerage house might not necessary offer you the best option....


2. When I trade, making money is much more important than saving money.
Cheap trades seduces and teaches one to embark a much riskier trading style - ie one is seduced to trade for scraps.
This is not to say such trading does not work, in fact some really good traders can make a good living on such scraps....
but the majority mati katak one....
cos it induces poor trading decisions...
the trader usually takes the small profits when instead they could have had a nice 'jackpot' of a winning trade....
they sell cos they got the easy option offered by cheap brokerage, hence ruining their big winning trades....
and trading more often does not necessary equates to a better trading strategy....
which is why I said cheap does not guarantee one winning (as in long term)

anyway... poison is always subjective la.... tongue.gif
to each their own....
Boon3
post Sep 2 2015, 04:07 PM

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QUOTE(carrer @ Sep 2 2015, 02:30 PM)
1. If your 'useless' is implying the platforms non-reliableness, then it is of my concern. If the platform keeps on crashing or not executing my trades, it is definitely a concern. I don't trade intraday, I usually hold my positions for weeks or months. I only look at the Daily chart and above. Therefore, as long as the platform can fulfill these requirements, it should be okay.
I don't mind paying a little more commissions to avoid the depositing and withdrawing problems.
If you have a broker of recommendation, please do let me know.

2. I will give you an example.

Assuming that my account is 200 MYR.
I am buying a 100 shares priced at RM2 (RM2*100 = RM200)
CIMB iTrade commissions = RM200*0.42%(in this case RM28, minimum brokerage fees)+RM20(stamp duty) = RM 48

HLeBroking commissions = RM200*0.1%(in this case RM8)+RM20 = RM 28

[I am not sure if the commissions are a round-trip commission or not]
My stock price has to move RM 0.24 for iTrade, and RM 0.14 for HLeBroking to break even.
In percentage, my stock has to move 12% for iTrade and 7% for HLeBroking.
They are significantly different.

I am using 200 to show how significant the commission is to low capital traders.
*
smile.gif

My comments are just random...
Just give a good thought and wish you the best in your trading.

Don't rush to be in this game....
Know who you are yourself thoroughly....

Cheers
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