Hi all. When i try to buy more than 500 lot for one particular stock, there is a warning said exceeded the limit. Which means if i want to buy 700 lot, have to buy in 2 times. one 500 lot, one 200 lot. May i ask is it the same for all online trading platform? coz if i buy separately, then i have to pay 2 times broker fee. cannot buy in one time 700 lot?

or does it means the total amount of $ of the 500lot has exceeded your traiding limit? (as for OSK, the traiding limit is refers to the TOTAL amount of $, not the quantity)

eg: your trading limit is RM10,000 (10k)
and u try to buy 50000unit @ RM1 each.
so 50000 x RM1 = RM50,000 which is > RM10,000 (your trading limit)

besides, the traiding fee may b more or less the same if your trading amount is huge because they are calculated in %. correct me if i'm wrong.

This post has been edited by ken_ng: May 23 2011, 06:04 PM

Exactly... you can't buy any stocks more than 500 lots in one order in Maybank platform. It's nothing to do with the price of the stock. And the broker fees for buying 700 lots in 1 time or 500 lots and 200 lots in 2 times may not be that much different as the main portion of the broker fees is based on the amount of the money you pay for your purchase.

Sorry for reviving old thread but it's sad Maybank still limits orders to 500 lots. When I want to buy say 2000 lots, despite there being sellers in the market they can sense someone is queuing to buy and will remove their listing from the market. A lot of this handled by algos. Very unfair!

Btw, even if you buy 500 lots then 200 lots, it is considered as one contract (any counter traded in the same day considered within a single contract, but I'm not sure about contra). I can confirm this as I experienced it recently.

500 lots is the default limit, just like your new ATM account will have a default limit. Just call the DR and request change to whatever amount per transaction you want.

It's not unfair, just that you are ignorant.

Thank you kind sir. I have called my broker.

Not fair to say ignorant though...cause unlike ATM/online banking where you are clearly told you can increase the limit, for this transaction when I key in 700 it didn't tell me I could increase the limit.

By the way thanks to your heads up I have changed it to 5,000 lots now (which is the max apparently).