Are you charging 2% when buy, 2% when sell, and 2% annually when keep?

You can trade GoldETF with Affin Hwang Asset Management directly in Bursa Malaysia. Stock code 0828EA. Also Shariah compliant. Brokerage fee only as low as 0.01%. Annual management fee less than 1% already reflected in the NAV.

Buy/sell 1 trading lot is 100 unit = 1g (around rm200 now).

Cash in broker's trading account will give around 2.5% interest.

The main advantage of Hello Gold from GoldETF is availability of cash in using credit card and Boost, despite its much higher fees than GoldETF. Now if Hello Gold want to chop down its mere advantage, then there is not much competitiveness to ETF, other than you can buy at RM1.

Your gold will become lesser and lesser everyday as Hellogold will suck your gold for maintenance fee. Not a good business model (to the customers).

Better platform is to buy gold etf in Bursa Malaysia using your normal stock trading account. Fee is much lesser, and no mechanism to suck your gold everyday.

I would suggest HG to impose maximum charge for its 2% maintenance fee to be fixed at RM120 per year or RM10 per month. That is equivalent to RM6000 value of gold.

Any gold value above RM6000 should not be charged for additional maintenance fee. In this way, the % of maintenance fee will actually drop when more value of gold is saved with HG. For example, saving RM60,000 value of gold, the maintenance fee will become 0.2%. This will encourage people to save more amount of gold with HG.

This is reasonable and win-win to both parties, because the cost difference for HG to maintain 1kg gold and 2kg gold is very minimal. 1kg physical gold is like a bar of chocolate. 2kg gold is 2 bars of chocolate.

But if you charge 2% for customer saving 1kg, and also the same 2% for customer saving 2kg, it is obviously very unfair to customers who save more as the maintenance fee will become ridiculously high, and also very unfair to customers who save for long term, because their gold will be taken away by 2% every year, the longer you save, the more gold will be eaten away.

This is the reason why until today, nobody want to save a large amount with HG - due to the high cost; and also nobody want to save for long term with HG - due to high rate of losing the gold from maintenance fee.

In fact, Bursa Malaysia's clearing fee also caps at RM200, and they are charging only 0.0025% of contract value.

What? You mean the 0.79% and 2.81% is manually adjusted every Monday? Not auto right after 12.00am?

Alternative 0828EA has low fee.

Here is HelloGold topic, mention a bit about alternative OK already.

If want to know more, please call your KLSE remisier / dealer representative.

ETF in KLSE is by lot not by gram. 1 lot is 100 unit, less than that is called odd lot. You can trade as low as 1 unit of odd lot = RM2.005 now, but odd lot you need to find buyer/seller. Open market lot, for ETF, there is always market maker who queue to buy/sell queue for you, similar to the way call/put warrants are operated.

You can trade in any of the following ways:
- by phone to your remisier / dealer representative
- by fax to your remisier / dealer representative
- by SMS to your remisier / dealer representative
- by WhatsApp to your remisier / dealer representative
- by website on yourself
- by mobile app on yourself

and you can give:
- market price order - immediate execution
- limit price order - same day
- limit price order - across a period of 30 days or less. Match the deal with your limit price
- standing order - after xxx profit, auto sell for profit. after xxx lost, auto sell to cut lost. - can be unlimited timeframe until you cancel your standing order.




This post has been edited by ppfoong: Dec 26 2019, 11:54 AM

Different securities broker firm got different package.

Brokerage as low as 0.05% - buy charge 1 time, sell charge 1 time. No charge in between. Keep for 1 second or 100 years up to you

Clearing fee 0.03% - buy charge 1 time, sell charge 1 time. Got maximum on this. After reached rm200, will be fixed at rm200 and will not charge more than that regardless how many millions is your transaction.

Stamp duty RM0 for ETF, until 2021.

Total charges = brokerage + clearing fee + stamp duty

For more info:
https://www.imoney.my/articles/understandin...ge-traded-funds

If you want interest, can park at Rakuten Trade that HelloGold highly recommended. There got 2.x% interest for cash.

Minimum amount is 0.

Or if need a figure, then minimum amount is 1 sen.

For contra account, trading limit is x5. If you put in 1 sen, you can buy 5 sen. You put in 100, can buy 500.

If you put 100 and buy 500, you can sell within 3 days and take back the money with profit or lost, or you can hold the share by paying the difference 500 - 100 = 400.

Haha... contra account is very common, and you should buy within your own capacity, not to buy with money that you don't have.

Another type of account, margin account, is the riskier one. Margin account is to buy with loan, using your collaterals as mortgage. If your mortgage value deficit, your loan margin will drop, and if you are unable to cover it up, there will be force selling.

Anatomy of cash account and contra account is: debit card and credit card.

Buy low sell high.

A lot of people dunno lah.

Else they should have sold all their gold now. Only buy back when the price is low.

Have you sold already?