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.
Your computation is wrong...stamp duty only RM1 per RM1,000, so since less than RM1000, stamp duty only RM1. U have not factored clearing fee in at 0.03% (have to also incl 6% GST, so it's 0.0318%. Stamp duty no GET but brokerage got.
So it's -
CIMB - 29.68 + 1 + 0.06 = 30.74
HL - 8.48 + 1 + 0.06 = 9.46
AB - 6.36 + 1 + 0.06 = 7.42.
Yes, U also have to pay the usual brokerage + stamp duty + clearing fee when U sell. So your share has to go up to above RM2.60 for CIMB, RM2.20 for HL and RM2.15 for AB B4 U can even think of selling to make a profit.
Anyway, no issue for me using AB as to depositing and withdrawal as I use my AmBank savings ac to deposit and withdraw online. If I want to buy shares today, I'll just have to login to my trading ac and make an on9 transfer from my AB ac to my trading ac B4 8am, and then I can start buying stock on that day itself. I just need to login to my trading ac to make a withdrawal to my AB savings ac B4 about 9am and the funds will be depoisted to my savings ac by about noon. I've been using AmeSecurities for about 2 yrs already and have yet to encounter any major problem. Also their customer service is good; u can call them directly or send an email.
This post has been edited by topearn: Sep 3 2015, 02:42 PM 
Oct 8 2013, 10:11 PM
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