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 Who is the best online broker in Malaysia?, Online Broker

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kb2005
post Aug 7 2013, 09:19 PM

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I am using Click Trader 8.88. biggrin.gif
TSLam2738
post Aug 7 2013, 09:20 PM

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QUOTE(zamans98 @ Aug 7 2013, 05:35 AM)
Incorrect for Hong Leong  mine is.0.38 with cash upfront,  min 8rm, for Internet trade.
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if its cash upfront, does that mean i cant trade on contra?

This post has been edited by Lam2738: Aug 7 2013, 09:22 PM
TSLam2738
post Aug 7 2013, 09:23 PM

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QUOTE(kb2005 @ Aug 7 2013, 09:19 PM)
I am using Click Trader 8.88. biggrin.gif
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Click Trader need to have a minimum of RM10k balance in the account right? correct me if im wrong
timljh
post Aug 7 2013, 09:36 PM

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I realized that AmSecurities have many hidden charges.. such as contra charges apply for T+2 sale, nominees fee for dividend payout, different rate applies to ppl that pay after they order even by T+0/1/2/3 and etc..

Is that true?
zamans98
post Aug 7 2013, 09:48 PM

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QUOTE(Lam2738 @ Aug 7 2013, 09:20 PM)
if its cash upfront, does that mean i cant trade on contra?
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can contra, no issues only when you have either cash or securities in your trading account.
will provide limit 2x of your cash+securities (70-90% market value depending on the counter).
zamans98
post Aug 7 2013, 09:49 PM

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QUOTE(timljh @ Aug 7 2013, 09:36 PM)
I realized that AmSecurities have many hidden charges.. such as contra charges apply for T+2 sale, nominees fee for dividend payout, different rate applies to ppl that pay after they order even by T+0/1/2/3 and etc..

Is that true?
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Better go for Malacca Securities, no hidden charges. Clean, fast, easy deposit/withdrawal, fast e-mail response.
kb2005
post Aug 7 2013, 09:52 PM

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QUOTE(Lam2738 @ Aug 7 2013, 09:23 PM)
Click Trader need to have a minimum of RM10k balance in the account right? correct me if im wrong
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Yes, you're right. The term is, you need to have 10k to enjoy the 8.88 rate. Else the rate will be 0.038%.
timljh
post Aug 7 2013, 09:56 PM

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QUOTE(kb2005 @ Aug 7 2013, 09:52 PM)
Yes, you're right. The term is, you need to have 10k to enjoy the 8.88 rate. Else the rate will be 0.038%.
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what about the min amount?
kb2005
post Aug 7 2013, 10:31 PM

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QUOTE(timljh @ Aug 7 2013, 09:56 PM)
what about the min amount?
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Min is 8.88 or 0.038% whichever is higher. biggrin.gif
ronnie
post Aug 7 2013, 10:49 PM

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QUOTE(topearn @ Aug 7 2013, 08:02 PM)
Brokerage fees very attractive at only 0.035% or RM6, whichever is higher. But how does it compare vs trading thr' remisier which I think do not have the minimum fee, like maybe 0.7%. So for a small trade of 100 shares at RM2, cost only RM200, so remisier fee is just RM1.4, whereas AmInvest is a much higher RM6. Is my computations correct ?
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Are you sure there's no minimum brokerage via Remisiers ??? Who buys 100 shares blink.gif blush.gif

topearn
post Aug 8 2013, 12:04 AM

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QUOTE(ronnie @ Aug 7 2013, 10:49 PM)
Are you sure there's no minimum brokerage via Remisiers ??? Who buys 100 shares  blink.gif  blush.gif
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I don't know and that's why I asking any kind soul to tell me. Those just starting to dabble in shares will buy 100 shares initially. Also 100 shares might not be cheap e.g. to buy 100 shares of Nestle, U need RM6,750.

topearn
post Aug 8 2013, 12:10 AM

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QUOTE(kb2005 @ Aug 7 2013, 09:52 PM)
Yes, you're right. The term is, you need to have 10k to enjoy the 8.88 rate. Else the rate will be 0.038%.
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U mean if U have min RM10,000 balance in your Click Trade account, they'll pay U 8.88% interest rate ? Sorry, a noob question as I'm new to all these.

timljh
post Aug 8 2013, 12:26 AM

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QUOTE(topearn @ Aug 8 2013, 12:10 AM)
U mean if U have min RM10,000 balance in your Click Trade account, they'll pay U 8.88% interest rate ? Sorry, a noob question as I'm new to all these.
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U really need to study more b4 u get into the market. The 8.88 is the min brokerage fee if u have 10k in ur account...
zamans98
post Aug 8 2013, 12:43 AM

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QUOTE(topearn @ Aug 8 2013, 12:04 AM)
I don't know and that's why I asking any kind soul to tell me. Those just starting to dabble in shares will buy 100 shares initially. Also 100 shares might not be cheap e.g. to buy 100 shares of Nestle, U need RM6,750.
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open a trading account with Malacca Securities. Cheap. Min RM8 for brokerage - no special condition are required.
Other charges by Government : Stamp Duty (RM1.00 for every RM1,000.00 of contract value), Clearing fee 0.03% of Contract

Example: 10,000 shares of IRIS @0.230
RM2,300
+ Brokerage Fee RM8 (min) = RM8
+ Stamp Duty RM3
+ Clearing Fee 0.69

Total Payable : RM2,311.69

malaccasecurities.com.my

and yea, on other hand, its useless to buy stock below RM5 for 200shares.

Example
RM2.50 x 200 = 500+1+0.15=509.15

Your buying price will be like 2.545/shares. U need to ensure it hit 2.62 cts to be in profit. +12cts movement is quite slow.


topearn
post Aug 8 2013, 09:57 AM

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QUOTE(zamans98 @ Aug 8 2013, 12:43 AM)
open a trading account with Malacca Securities. Cheap. Min RM8 for brokerage - no special condition are required.
Other charges by Government : Stamp Duty (RM1.00 for every RM1,000.00 of contract value), Clearing fee 0.03% of Contract

Example: 10,000 shares of IRIS @0.230
RM2,300
+ Brokerage Fee RM8 (min) = RM8
+ Stamp Duty RM3
+ Clearing Fee 0.69

Total Payable : RM2,311.69

malaccasecurities.com.my

and yea, on other hand, its useless to buy stock below RM5 for 200shares.

Example
RM2.50 x 200 = 500+1+0.15=509.15

Your buying price will be like 2.545/shares. U need to ensure it hit 2.62 cts to be in profit. +12cts movement is quite slow.
*

Do we have to go to Melaka to open an account ? I'm from Klang Valley.
But AmInvest even lower brokerage at 0.035% or RM6, whichever is higher.


ronnie
post Aug 8 2013, 10:17 AM

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Cheapest is AmeSecurities at the moment... both minimum (RM6) or above minimum (0.035%)
timljh
post Aug 8 2013, 11:37 AM

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QUOTE(ronnie @ Aug 8 2013, 10:17 AM)
Cheapest is AmeSecurities at the moment... both minimum (RM6) or above minimum (0.035%)
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but what about their hidden charges? did u get charged for those?
zamans98
post Aug 8 2013, 12:18 PM

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QUOTE(topearn @ Aug 8 2013, 09:57 AM)
Do we have to go to Melaka to open an account ? I'm from Klang Valley.
But AmInvest even lower brokerage at 0.035% or RM6, whichever is higher.
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I think you are super lazy and wanted to be spoon fed, hey the url was given, go and visit the page and fond it out
ronnie
post Aug 8 2013, 12:21 PM

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QUOTE(timljh @ Aug 8 2013, 11:37 AM)
but what about their hidden charges? did u get charged for those?
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I use cash account so not affected by your so-called hidden charges.
timljh
post Aug 8 2013, 02:46 PM

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QUOTE(ronnie @ Aug 8 2013, 12:21 PM)
I use cash account so not affected by your so-called hidden charges.
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Cash account also will be charged the nominee fee for the dividend payout.. So yes, u will be affected.. Maybe u dont feel it coz u nvr received any dividend through that account yet?

This post has been edited by timljh: Aug 8 2013, 02:52 PM

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