True that!

Asking a beginner question.

1. Buying or selling a share with order type: limit, why it won't buy or sell even when it reaches the target?

2. What to do with expiring warrant? Any other options like convert to share, etc.?

What are the fees involved for rakuten trade?

Just brokerage fee of RM7 when you buy?
Do they charge anything when you sell the shares you're holding?

What are the brokerage rates and fees charges?

Normal Brokerage (via Web/ iSPEED.my)

⦁ Below RM1,000.00 = RM7.00* per transaction

⦁ Between RM1,000.00 to RM9,999.99 = RM8.00* per transaction

⦁ Between RM10,000.00 to RM99,999.99 = 0.10% of trading value*

⦁ Equal / above RM100,000.00 = RM100.00* per transaction

*6% ST will be imposed on brokerage fees

Other Fees

⦁ Clearing Fee: 0.03% up to a maximum of RM1,000.00 per contract

⦁ Stamp Duties: RM1.00 for every RM1,000.00 in trading value (maximum amount of RM200.00 per contract)

⦁ CDS Fee: Account Opening RM10.00 per CDS

⦁ Transfer of Securities RM10.00 per counter

⦁ Services Tax (ST): 6% of brokerage fees

Limit sell - you have to queue, even if the share price has reached your intended sale price, if someone else has put their sale order before you, their sale order will clear first.

Expiring warrant, it depends on the warrant itself - if still can convert or not.
Read more here: What is a Corporate Action (CA)?

This post has been edited by muhammadb: Mar 26 2019, 06:54 PM

Am thinking of opening a Rakuten trade cash upfront account but have some queries. Appreciate help.

1) Do one immediately have to transfer a certain sum of $ upon opening the account or only need to transfer the $ when one wants to trade?

2) As most probably I will not be trading (or very minimal trade) for the 1st few months, will I be urged/harassed to do so?

1) minimal rm 10 in cash account to keep it active (Min rm 10 - to keep it active). I have managed to get it below 4, lol
Initial account opening under contra 2.0 promo period is rm20, you get back rm10. Then with those balance cash, you can buy odd lot unit of some penny stock, without topping up any cash, if you dont want to (but remember rm 7 trading fees, clearing, sst, etc).

2) no harm, do it when needed only. I think you need to to trade once in 3 months possibly, cant remember (not mentioned anywhere also). Bursa CDS will be inactive if no trade in 36 months (3 years).

Extra note, cash kept in cash or contra account gain interest 2.5% pa, calculated based on daily rest - credited monthly. This is more than m2u savers account. Not guaranteed by PIDM - usual stuff.

rakuten client account t&c

This post has been edited by muhammadb: Mar 27 2019, 08:43 AM

Thanks Muhammadb

Is the buy/sell in the platform considered long/short?
Follow up: Assuming it's long/short, if I long 1x and then short the same stock 0.3x, are those counted as 2 transactions where I'll be charged RM14 assuming my amount is <RM1K

This post has been edited by yj98: Apr 3 2019, 04:08 PM

what do you mean by short? you want to do Intraday Short Sell? If that's the case. You can't as Rakuten does not participate in IDSS.
if you are asking to buy and then sell same counter within the same day, they have rebate for broker fee. Instead of RM7 x 2, you will be charge RM7 only for the broker fee.

mr_hustla Is it automatically they charge you $7 or you have to request for it

it will be automatically charge and if have rebate, they will give back at the end of the day

I understand multiple buy and sell for one single counter/stock consider as one contract.. So the charges is only one time. Counted as one trade.
Is that so?

So is it true that all the transection done are under the name of rakuten trade and they are just middle man?

So will we have our statement that printed out name? And our mailing address?

Nominees for rakuten I not sure bro.. U kena call them ask leh

Thanks

By short I mean borrowing on margin and shorting. Example: selling/shorting a particular stock even if I don't own any of it.

yes. buying multiple times in 1 counter in the same day and board lot will be calculated as 1 trade. trading fee will be based on total value of buying for that counter..
but if you trade odd lot even the same counter in the same day, it will be consider as different trade and will not lump into 1 value.

rakuten does not allow short selling as they are not participating organization.

Rakuten use CDS nominee under Kenanga. So you will not receive any hard copy quarterly report for any share you hold. Even if you want to attend AGM, you have to let Rakuten knows as the share is under Kenanga Nominees not your name.