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 Trading stock via maybank2u, let discuss

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JayCkat
post Dec 8 2018, 05:57 PM

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QUOTE(playrobot @ Nov 10 2018, 09:18 PM)
Hello any idea how we can change our remisier?? for example i have opened up CDS account with maybank can i switch to AmInvestment for example?

I really don't understand how maybank do calculation on  brokerage fee for trading.

i saw somewhere in website state that for cash direct/non-margin the fee was
0.1% or
Minimum: RM8

but from my acc transaction there always an additional RM8.01 or sometimes RM9.01 / RM9.13 / RM9.03

doesn't maybank supposed to charge a minimum RM8 only? really confused making me want to switch to other broker if minimum is only RM8 why maybank always charge more? unless my trading value is more than RM8000 only the 0.1% will be applied right? correct me if i'm wrong

here the fee comparison https://klse.i3investor.com/jsp/hti/brokers.jsp
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Have you factored in the stamp duty (RM8 per 1000 shares) and clearing fee (0.03% of share purchased) that is charged by BURSA? Maybank will take that money from you automatically.

So let say I buy 7100 shares at RM1 per share.

I will pay
RM 7100 for shares
RM 8 to Maybank as brokerage fees
RM 8 to BURSA as stamp duty. (BURSA rounds up to nearest 1000 shares)
RM2.13 to BURSA as clearing fee. (BURSA rounds up to nearest cent.)

So total fees to pay is RM7118.13. And of that RM18.13 are fees to buy the shares.

JayCkat
post Dec 8 2018, 06:00 PM

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QUOTE(RyuGW90 @ Dec 2 2018, 09:40 PM)
Maybank platform can only fully utilized in IE
If you fine with that, everything good
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yeah IE ONLY and NOT Windows newer browser, Microsoft Edge.
JayCkat
post Dec 14 2018, 02:51 PM

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Does Maybank trading platform have a stop loss order?

Just asking to make sure because I don't see it.
JayCkat
post Dec 20 2018, 11:57 PM

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QUOTE(DeniseLau @ Dec 20 2018, 05:48 PM)
Aha! I see - thank you! 🙇‍♂️
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And you can sell it too. Don't need to wait for the money to be deducted from your account. You own the shares the moment your order is matched.

Just make sure you know what kind of account you have.
Do you have a cash only account or a margin account.

Cash only means you can buy only as much as you have cash in your account
Margin means, you can buy more than you have cash in your account. Bank lend you money at an interest rate. Buying shares on margin means you have limited to no ability to hold your shares until a better time to sell.

This post has been edited by JayCkat: Dec 21 2018, 12:01 AM
JayCkat
post Dec 25 2018, 04:22 PM

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QUOTE(DeniseLau @ Dec 25 2018, 03:41 PM)
Thank you, I have a cash only account. Too scared to get the margin account  sweat.gif
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biggrin.gif Also have a cash only account.

Another plus side of a cash only account, the brokerage fees is less 0.1% vs 0.42% (margin), may not seem much but it makes a big difference. As it is for both buying and selling.

And when you factor in stamp duty (~0.1%) and clearing fee (0.03%)

So the total fee for a complete transaction cycle is ~0.26% (cash) and ~1.10% (margin).

And you have exceed that % to be profitable.
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