Which Broker Should I Use ?, Just Starting to Invest in Stock Market
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 Feb 14 2019, 05:02 PM, updated 7y ago
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#1
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Newbie
17 posts Joined: Jul 2014  
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I am looking at Rakuten , M+ and Hong Leong going to buy stocks for the first time . Been doing a little research on these seems like M+ has the lowest brokerage fees ? Which of the three would you guys recommend based on the brokerage fees and customer service ? I plan to buy and hold some stocks and maybe day trade too . If there are any other brokers other than the 3 that you would recommend pls mention. Thanks!!
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Feb 14 2019, 07:42 PM
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#2
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All Stars
24,432 posts Joined: Feb 2011
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QUOTE(RagingRabbits @ Feb 14 2019, 05:02 PM) I am looking at Rakuten , M+ and Hong Leong going to buy stocks for the first time . Been doing a little research on these seems like M+ has the lowest brokerage fees ? Which of the three would you guys recommend based on the brokerage fees and customer service ? I plan to buy and hold some stocks and maybe day trade too . If there are any other brokers other than the 3 that you would recommend pls mention. Thanks!! Cheapest is M+. But customer service wise, not sure. Why not try shoot them all an email see how long they take to reply. |
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Feb 14 2019, 09:19 PM
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#3
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Senior Member
1,205 posts Joined: Feb 2006 From: Kuala Lumpur
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I've been using M+ for almost a decade and have no issues with it.
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Feb 14 2019, 11:44 PM
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#4
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Senior Member
1,938 posts Joined: Nov 2009 From: Bolehland
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I also been using M+ cash account. No issues so far. Transfer money and withdraw all self service online.
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Feb 15 2019, 10:35 AM
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#5
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Junior Member
254 posts Joined: May 2014 From: Selangor 
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I got HLE and Maybank. anyone can recommend me good M+ broker?
not those MIA after u sign up... atleast got market update etc... |
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Feb 21 2019, 01:59 PM
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#6
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Newbie
23 posts Joined: Feb 2019
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Rakuten Trade, trust me..is fast and convenient..
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Feb 21 2019, 11:00 PM
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#7
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Newbie
16 posts Joined: Feb 2019
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rakuten trade
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Feb 24 2019, 12:44 PM
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#8
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Senior Member
1,042 posts Joined: Jan 2003
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Personally only have M+ and a non Rakuten nominee account so I assume Rakuten's nominee works the same except no corporate action charges.
For lowest fees - cash account is what you're looking for Account Type M+, HLE direct. Rakuten nominee. Brokerage Fee Depending on your buying/selling pattern and size. Rakuten advantage for <RM1,000. M+ advantage for >RM10,000. HLE 0.1% or min RM8. Idle Cash Interest Rakuten @ 2.5% p.a. any amount. M+ @ 2.3% p.a. if <RM100,000. Unclear for HLE. PIDM HLE has PIDM since it's a banking body. Unclear whether PIDM covers shares and/or just the idle cash though. Corporate Action Rakuten if you plan to hold counters like Maybank and participate in Dividend Reinvestment. All no charges to handle dividend received, unclear if Rakuten's no charge is perpetual or waived until further notice. AGM & Reports Direct account and can attend AGM and receive annual reports from companies via mail. Rakuten's nominee need to contact Rakuten to submit form to attend AGM, no annual reports sent to you. Updates For my nominee account broker, can call the office for day trading tips. For M+, on trading days dealing team will send you previous day's market summary with some trading ideas via WhatsApp. Sample of last Friday's morning brief: » Click to show Spoiler - click again to hide... « |
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Feb 25 2019, 11:33 AM
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#9
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Junior Member
11 posts Joined: Apr 2011
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After your CDS account ready.. pls do homework first about FA and TA on any counter before you buy.. all the best!
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Mar 2 2019, 10:00 AM
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#10
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Senior Member
2,106 posts Joined: Jul 2018
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Below 100k
cheapest = AmEquities 0.05% for all, intraday 0.15%min Mplus 0.08% for below 30k, 0.05% for above 30k Above 100k cheapest = Rakuten |
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Mar 3 2019, 10:40 AM
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Senior Member
1,205 posts Joined: Feb 2006 From: Kuala Lumpur
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QUOTE(tadashi987 @ Mar 2 2019, 10:00 AM) Below 100k Rakuten only becomes cheapest above RM200k per trade. Since at a RM100k trade, Rakuten's brokerage fee is still 0.10%, double that of MPlus and AmEquities. Only when a trade exceeds RM200k that the fee falls below 0.05%. cheapest = AmEquities 0.05% for all, intraday 0.15%min Mplus 0.08% for below 30k, 0.05% for above 30k Above 100k cheapest = Rakuten Which is why Rakuten is not the cheapest option out there, though their marketing efforts has made themselves sound like the cheapest in the market. I personally have been using MPlus all these years and was not caught up in the Rakuten hype. This post has been edited by Havoc Knightmare: Mar 3 2019, 10:42 AM |
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Mar 3 2019, 10:43 AM
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#12
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Senior Member
2,106 posts Joined: Jul 2018
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QUOTE(Havoc Knightmare @ Mar 3 2019, 10:40 AM) Rakuten only becomes cheapest above RM200k per trade. Since at a RM100k trade, Rakuten's brokerage fee is still 0.10%, double that of MPlus and AmEquities. Only when a trade exceeds RM200k that the fee falls below 0.05%. oya should be 200k above, mistaken the figureWhich is why Rakuten is not the cheapest option out there, though their marketing efforts has made themselves sound like the cheapest in the market. I personally have been using MPlus all these years and was not caught up in the Rakuten hype. i am using Mplus too |
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Mar 4 2019, 01:06 PM
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Junior Member
92 posts Joined: Jun 2018
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QUOTE(Havoc Knightmare @ Mar 3 2019, 10:40 AM) Rakuten only becomes cheapest above RM200k per trade. Since at a RM100k trade, Rakuten's brokerage fee is still 0.10%, double that of MPlus and AmEquities. Only when a trade exceeds RM200k that the fee falls below 0.05%. Rakuten's trade 100k and above charges are only flat rate at RM100Which is why Rakuten is not the cheapest option out there, though their marketing efforts has made themselves sound like the cheapest in the market. I personally have been using MPlus all these years and was not caught up in the Rakuten hype. 
This post has been edited by Morales: Mar 4 2019, 01:07 PM Lawrance66 liked this post
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Mar 4 2019, 03:47 PM
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Senior Member
1,205 posts Joined: Feb 2006 From: Kuala Lumpur
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QUOTE(Morales @ Mar 4 2019, 01:06 PM) Rakuten's trade 100k and above charges are only flat rate at RM100 Yes, it is 0.10% at RM100k, 0.067% at RM150k and 0.05% at RM200k. It is only with trades above RM200k that Rakutentrade becomes the cheapest in percentage terms.
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Apr 30 2019, 03:05 PM
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Senior Member
2,032 posts Joined: Jan 2014 From: Sabah, Malaysia
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Am at rakuten, changing to M+ for direct account
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Jul 3 2019, 08:20 PM
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Junior Member
103 posts Joined: Jun 2008
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QUOTE(woonsc @ Apr 30 2019, 05:05 PM) Am at rakuten, changing to M+ for direct account Why? |
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Jul 5 2019, 08:27 AM
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Junior Member
77 posts Joined: Jun 2019
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QUOTE(woonsc @ Apr 30 2019, 03:05 PM) Am at rakuten, changing to M+ for direct account apa macam? I would like to know also |
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Jul 5 2019, 10:24 AM
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#18
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Senior Member
2,032 posts Joined: Jan 2014 From: Sabah, Malaysia
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With extra RM1 per trade.
I get a direct account, dedicated personal broker, better stock charting and screener. |
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Jul 22 2019, 04:22 PM
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#19
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Probation
3 posts Joined: Jul 2019
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Im using TA platform under TA Securities.
They charged a little bit higher, but they make me feel so vip. Their service is real good. |
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Jul 23 2019, 05:52 PM
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Senior Member
646 posts Joined: Jun 2010
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QUOTE(vhuan115 @ Jul 22 2019, 05:22 PM) Im using TA platform under TA Securities. Lol.They charged a little bit higher, but they make me feel so vip. Their service is real good. Can elaborate more? And what are the fees like? TQ This post has been edited by foxxy: Jul 23 2019, 05:52 PM |
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