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 Which Broker Should I Use ?, Just Starting to Invest in Stock Market

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TSRagingRabbits
post Feb 14 2019, 05:02 PM, updated 7y ago

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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!!
Ramjade
post Feb 14 2019, 07:42 PM

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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!!
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Cheapest is M+. But customer service wise, not sure. Why not try shoot them all an email see how long they take to reply.
Havoc Knightmare
post Feb 14 2019, 09:19 PM

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I've been using M+ for almost a decade and have no issues with it.
zDarkForceSz
post Feb 14 2019, 11:44 PM

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I also been using M+ cash account. No issues so far. Transfer money and withdraw all self service online.
BlurGuy1992
post Feb 15 2019, 10:35 AM

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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...
123GoldCome
post Feb 21 2019, 01:59 PM

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Rakuten Trade, trust me..is fast and convenient..
KPPY
post Feb 21 2019, 11:00 PM

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rakuten trade
roarus
post Feb 24 2019, 12:44 PM

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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... «

matg
post Feb 25 2019, 11:33 AM

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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!
tadashi987
post Mar 2 2019, 10:00 AM

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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


Havoc Knightmare
post Mar 3 2019, 10:40 AM

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QUOTE(tadashi987 @ Mar 2 2019, 10:00 AM)
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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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%.

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
tadashi987
post Mar 3 2019, 10:43 AM

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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%.

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.
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oya should be 200k above, mistaken the figure
i am using Mplus too
Morales
post Mar 4 2019, 01:06 PM

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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%.

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.
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Rakuten's trade 100k and above charges are only flat rate at RM100

Attached Image

This post has been edited by Morales: Mar 4 2019, 01:07 PM
Havoc Knightmare
post Mar 4 2019, 03:47 PM

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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

Attached Image
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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.
woonsc
post Apr 30 2019, 03:05 PM

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Am at rakuten, changing to M+ for direct account
davidw89
post Jul 3 2019, 08:20 PM

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QUOTE(woonsc @ Apr 30 2019, 05:05 PM)
Am at rakuten, changing to M+ for direct account
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Why?
supsupsui
post Jul 5 2019, 08:27 AM

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QUOTE(woonsc @ Apr 30 2019, 03:05 PM)
Am at rakuten, changing to M+ for direct account
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apa macam? I would like to know also
woonsc
post Jul 5 2019, 10:24 AM

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With extra RM1 per trade.
I get a direct account, dedicated personal broker, better stock charting and screener.
vhuan115 P
post Jul 22 2019, 04:22 PM

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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.

foxxy
post Jul 23 2019, 05:52 PM

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QUOTE(vhuan115 @ Jul 22 2019, 05:22 PM)
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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Lol.

Can elaborate more? And what are the fees like?

TQ

This post has been edited by foxxy: Jul 23 2019, 05:52 PM
sleepy8
post Apr 23 2020, 04:06 PM

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after reading the replies, the contender seems to be between M+ and rakuten... but look at the review of their apps. m+ wins with 1 full point. rakuten app is laggy.
cazorla81
post May 14 2020, 12:30 PM

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I am currently using Maybank Trade. Anyway after this financial crisis, I am aware that the importancy of auto stop lost feature. So after some study, notice there's only a few have that, which includes Mplus/isaham.

Seems like Mplus is a reputable platform, I will just go with this now. Thanks.
galkelly
post May 14 2020, 04:22 PM

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can register online for M+ or need agent to open acc ?>
sil3ntguardian
post May 21 2020, 01:08 PM

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hi guys, do you know which brokers will give linger GTD? currently my account can do 28 days GTD.
plouffle0789
post May 26 2020, 06:40 AM

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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!!
*
Malacca Securities Sdn Bhd (M+ Online) is a participating organization of Bursa Malaysia Securities Berhad and licensed to undertake regulated dealing activities. It has been established since 1963 and has been in the stock broking business for more than 50 years.

In 2010, the Online Trading Platform was enhanced and re-branded as M+ Online, with the sole purpose of providing online trading features to Internet savvy and well informed customers. With the brokerage rate as low as 0.05% or minimum RM8.00 per contract, investors get to save more than 90% of the normal brokerage transaction cost. This enables investors to "Take Profit with Just One Tick".



But this company easy to depoait and cash out?

Cimb also rm8 right?
plouffle0789
post May 26 2020, 06:41 AM

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QUOTE(sil3ntguardian @ May 21 2020, 01:08 PM)
hi guys, do you know which brokers will give linger GTD? currently my account can do  28 days GTD.
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What is gtd?
plouffle0789
post May 26 2020, 06:42 AM

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QUOTE(cazorla81 @ May 14 2020, 12:30 PM)
I am currently using Maybank Trade. Anyway after this financial crisis, I am aware that the importancy of auto stop lost feature. So after some study, notice there's only a few have that, which includes Mplus/isaham.

Seems like Mplus is a reputable platform, I will just go with this now. Thanks.
*
Means when some things happen shares price drop too many,system will auto sold your shares?

If you set a limit percentage?
roytoh
post Jun 12 2020, 01:33 PM

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I'm using M+, Amequities.

I like M+ deposit because it's FPX transfer. Since I don't trade above RM10k/counter, M+ is the only broker I used.
rocketm
post Jun 13 2020, 02:23 AM

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Anyone try open Mplus account online? Is it need to wait for a month to get approval?
seiluen
post Jun 14 2020, 01:34 AM

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QUOTE(rocketm @ Jun 13 2020, 02:23 AM)
Anyone try open Mplus account online? Is it need to wait for a month to get approval?
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just finish submit my form. next monday send back to them. lets see how long to get my account approved

rocketm
post Jun 14 2020, 09:06 AM

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QUOTE(seiluen @ Jun 14 2020, 02:34 AM)
just finish submit my form. next monday send back to them. lets see how long to get my account approved
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Are you using courier company to send to them or by email?
ChiaW3n
post Jun 14 2020, 09:24 AM

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QUOTE(seiluen @ Jun 14 2020, 01:34 AM)
just finish submit my form. next monday send back to them. lets see how long to get my account approved
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Keep informed, because I just submitted last Friday too
seiluen
post Jun 14 2020, 12:25 PM

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QUOTE(rocketm @ Jun 14 2020, 09:06 AM)
Are you using courier company to send to them or by email?
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courier. they arrange rider to pickup from me after I finish signed
seiluen
post Jun 14 2020, 12:25 PM

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QUOTE(ChiaW3n @ Jun 14 2020, 09:24 AM)
Keep informed, because I just submitted last Friday too
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sure ! biggrin.gif
CJ15 P
post Jun 17 2020, 02:02 PM

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QUOTE(seiluen @ Jun 14 2020, 12:25 PM)

sure !  biggrin.gif
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smile.gif smile.gif May I know do you receive any email from M+ upon successful registration?

I just received this (as per attached) without email confirmation.

https://pictr.com/images/2020/06/17/7x9ycB.md.png
seiluen
post Jun 17 2020, 06:03 PM

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QUOTE(CJ15 @ Jun 17 2020, 02:02 PM)
smile.gif  smile.gif  May I know do you receive any email from M+ upon successful registration?
I just received this (as per attached) without email confirmation.
<a href='https://pictr.com/images/2020/06/17/7x9ycB.md.png' target='_blank'>https://pictr.com/images/2020/06/17/7x9ycB.md.png </a>
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hi, I didn't received any email as well. after I successful register,their team WhatsApp me the next working day
Momo33
post Jun 17 2020, 06:10 PM

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QUOTE(RagingRabbits @ Feb 14 2019, 06:02 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!!
*
M + thumbsup.gif
0.05 % b fees
platform never down this year .

great CS , handle all matters . 1 staff appointed to service you. he sent whatapp msg to u daily on market .

i have no reason to look for another .







limtekshi
post Jun 18 2020, 02:12 AM

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Started with HLE, then tried out Rakuten, and now mostly use Rakuten.

HLE browser interface really sucks and their login sometimes is a hassle; but their phone app is decent.
Rakuten on the other hand is other way round, browser user interface is heaps better, but their phone app iSpeed really sucks.
Its almost like HLE phone app matches Rakuten browser, and HLE browser matches iSpeed app.

Is M+ user interface much better than these two?
z21j
post Jun 18 2020, 12:16 PM

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I've been using M+ since 2016. So far no issue and my relationship manager is very responsive. Sometime getting a good relationship manager is important especially for people like me who dont reside in Malaysia. i do have HLE too but that one is nominee acc. For CDS, M+ should be among the cheapest. Not laggy.
wayne5491
post Jun 18 2020, 07:15 PM

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Which M+ account type did you guys go for? I was told the silver acc got no remisier and no more intra day rebate, only gold acc got.. worth paying extra rm2 for these?
AVFAN
post Jun 20 2020, 10:36 AM

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QUOTE(z21j @ Jun 18 2020, 12:16 PM)
I've been using M+ since 2016. So far no issue and my relationship manager is very responsive. Sometime getting a good relationship manager is important especially for people like me who dont reside in Malaysia. i do have HLE too but that one is nominee acc. For CDS, M+ should be among the cheapest. Not laggy.
*
hi, i am exploring this M+ .

https://mplusonline.com/overview/

your exp... is their portal good enuf compared to mbb, hlb, cimb ones, incl funds in/out?

thanks much.

This post has been edited by AVFAN: Jun 20 2020, 10:55 AM
adam1190
post Jun 20 2020, 12:16 PM

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QUOTE(AVFAN @ Jun 20 2020, 10:36 AM)
hi, i am exploring this M+ .

https://mplusonline.com/overview/

your exp... is their portal good enuf compared to mbb, hlb, cimb ones, incl funds in/out?

thanks much.
*
Not sure if the portal will lag..
AVFAN
post Jun 20 2020, 12:32 PM

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it's been a long time since i last checked brokerage fees.

has much changed in the last 10 years?

i know the "independent" brokers are always better, but have the major banks improved at all?

i dun mean the "cash upfront" or nominee acc but the "CDS collateralized/leveraged" type.

i looked at this page... is the info up to date?
https://klse.i3investor.com/jsp/hti/brokers.jsp

if so, i see little has changed:

CIMB 0.42%, min RM28, intraday ?
Maybank 0.42%, RM12, 0.15%.
HLB 0.38% (0.18 if >100k), RM8, 0.10%.

in contrast,
M+ 0.3% (0.2% if >50k), rm10, 0.1%

Am i reading the info correctly?

This post has been edited by AVFAN: Jun 20 2020, 12:33 PM
z21j
post Jun 20 2020, 03:12 PM

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M+ is a CDP account. Shares are held under your name.

I always pre-funded the cash to M+ portal and then when I placed an order, system will auto deduct from my pre-funded cash after 2 days. A contract will be furnished as well, indicating how much you bought etc. No issue with the withdrawal too.

I'm accessing the M+ apps overseas. No lagging experience so far. Not that I keep selling M+ since I'm not associated with them. Another broker that I used is HLE in 2009. I stopped using it cause if hardly get (immediate) assistance from customer support if I encounter any issue. Currently, I still holding some shares in HLE (nominees account) for GHLSYS, which I hold more than 10 years. I started a forum topic 11 years ago here>>> https://forum.lowyat.net/topic/1206058

My average price was 0.3x and now about 1.9x. Not that I dont want sell it now but the system has suspended my account for any trading activity. I tried reach out the customer support and it seems like taking forever + I currently not in KL so very difficult to visit any branch.

I chose M+ not about the fees too, but their customer service and platform ease of you. You will know what am I saying once you opened the account yourself.


AVFAN
post Jun 20 2020, 03:26 PM

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QUOTE(z21j @ Jun 20 2020, 03:12 PM)
M+ is a CDP account. Shares are held under your name.

I always pre-funded the cash to M+ portal and then when I placed an order, system will auto deduct from my pre-funded cash after 2 days. A contract will be furnished as well, indicating how much you bought etc. No issue with the withdrawal too.  

I'm accessing the M+ apps overseas. No lagging experience so far. Not that I keep selling M+ since I'm not associated with them. Another broker that I used is HLE in 2009. I stopped using it cause if hardly get (immediate) assistance from customer support if I encounter any issue. Currently, I still holding some shares in HLE (nominees account) for GHLSYS, which I hold more than 10 years. I started a forum topic 11 years ago here>>> https://forum.lowyat.net/topic/1206058

My average price was 0.3x and now about 1.9x. Not that I dont want sell it now but the system has suspended my account for any trading activity. I tried reach out the customer support and it seems like taking forever + I currently not in KL so very difficult to visit any branch.

I chose M+ not about the fees too, but their customer service and platform ease of you. You will know what am I saying once you opened the account yourself.
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thanks for info.

when u transfer from bank acc to m+, is it via fpx?
how long does it take to be active, i.e. usable in the portal... immediate, overnight?
what about from m+ to bank acc... same turnaround?

when u sell the stock which has been paid up, is the cash freed up immediately or take 1, 2, 3 days to be usable again?
is there a min cash balance required?

This post has been edited by AVFAN: Jun 20 2020, 03:36 PM
z21j
post Jun 20 2020, 03:40 PM

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QUOTE(AVFAN @ Jun 20 2020, 03:26 PM)
thanks for info.

when u transfer from bank acc to m+, is it via fpx?
how long does it take to be active, i.e. usable in the portal... immediate, overnight?
what about from m+ to bank acc... same turnaround?

when u sell the stock which has been paid up, is the cash freed up immediately or take 1, 2, 3 days to be usable again?
*
From bank to M+, yes via fpx and it's immediate.

From M+ to bank, I actually only withdrew like twice in the past 4 yrs. First time was in 2017 (whereby I just wanted to test water and assess how long it takes). Back then it took about 3 working days. The second time I did was last year sometime in June. I submitted withdrawal request at evening time on Thursday (so i got the money on the following Monday). But subsequently I found out from relationship manager that if I submitted request before 4pm (assuming it's Thursday), then it will be processed and fund will be transferred on the next trading day (in my case, it would have been Friday). Since no additional cost involved for withdrawal, so I can try submit withdraw request on coming Monday before 4pm and see if I get the money on Tuesday. Unless anybody else has tried before?

This post has been edited by z21j: Jun 20 2020, 03:41 PM
AVFAN
post Jun 20 2020, 03:43 PM

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QUOTE(z21j @ Jun 20 2020, 03:40 PM)
From bank to M+, yes via fpx and it's immediate.

From M+ to bank, I actually only withdrew like twice in the past 4 yrs. First time was in 2017 (whereby I just wanted to test water and assess how long it takes). Back then it took about 3 working days. The second time I did was last year sometime in June. I submitted withdrawal request at evening time on Thursday (so i got the money on the following Monday). But subsequently I found out from relationship manager that if I submitted request before 4pm (assuming it's Thursday), then it will be processed and fund will be transferred on the next trading day (in my case, it would have been Friday). Since no additional cost involved for withdrawal, so I can try submit withdraw request on coming Monday before 4pm and see if I get the money on Tuesday. Unless anybody else has tried before?
*
thanks again.

sorry... 2 more questions:

when u sell the stock which has been paid up, is the cash freed up immediately or take 1, 2, 3 days to be usable again?
is there a min cash balance required?
z21j
post Jun 20 2020, 03:44 PM

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QUOTE(AVFAN @ Jun 20 2020, 03:26 PM)
thanks for info.

when u transfer from bank acc to m+, is it via fpx?
how long does it take to be active, i.e. usable in the portal... immediate, overnight?
what about from m+ to bank acc... same turnaround?

when u sell the stock which has been paid up, is the cash freed up immediately or take 1, 2, 3 days to be usable again?
is there a min cash balance required?
*
Regarding your second question, standard T+2 days applies. Meaning if u sold 100 units of Maybank at 7.70 = then u will get RM770 (minus transaction cost etc) 2 days after. Same process when you buy.

My account is M+Silver, so I only able to buy up to a limit and to the extent the amount that I pre-funded to M+ account. In any event if I dont buy anything and keep that cash in the M+account, they will credit interest income to me (not sure about the latest rate now).
AVFAN
post Jun 20 2020, 03:49 PM

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QUOTE(z21j @ Jun 20 2020, 03:44 PM)
Regarding your second question, standard T+2 days applies. Meaning if u sold 100 units of Maybank at 7.70 = then u will get RM770 (minus transaction cost etc) 2 days after. Same process when you buy.

My account is M+Silver, so I only able to buy up to a limit and to the extent the amount that I pre-funded to M+ account. In any event if I dont buy anything and keep that cash in the M+account, they will credit interest income to me (not sure about the latest rate now).
*
ok, thanks for all the info.

i am considering this solely due to low 0.08-0.05% brokerage, cash upfront to buy.

the major banks offer much the same too but typically at 0.1%.

if one is trading frequently, the diff can be a significant amt over time.

This post has been edited by AVFAN: Jun 20 2020, 03:52 PM
AVFAN
post Jun 20 2020, 04:05 PM

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QUOTE(wayne5491 @ Jun 18 2020, 07:15 PM)
Which M+ account type did you guys go for? I was told the silver acc got no remisier and no more intra day rebate, only gold acc got.. worth paying extra rm2 for these?
*
what rm2 is this?

the gold acc advantage is mainly to get collateralization and leverage.

i.e. u get a higher buying limit. and no need to wait for selling T+2 in order to buy again.

but the brokerage fee is at least double... so, consider carefully.


AVFAN
post Jun 20 2020, 04:52 PM

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QUOTE(z21j @ Jun 20 2020, 03:44 PM)
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do u know if the portal has a stop loss feature?
wayne5491
post Jun 20 2020, 05:24 PM

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QUOTE(AVFAN @ Jun 20 2020, 04:05 PM)
what rm2 is this?

the gold acc advantage is mainly to get collateralization and leverage.

i.e. u get a higher buying limit. and no need to wait for selling T+2 in order to buy again.

but the brokerage fee is at least double... so, consider carefully.
*
I was told by an mplus rep that the silver account is self service (no remisier), basically like rakuten but direct account instead of nominee.

With gold account, minimum brokerage charge is rm10 (instead of rm8 for silver) you get a remisier, and collaterisation as well as leverage.

Is it the same for you guys or they have changed the policy for new clients? Or perhaps I misunderstood the rep?

This post has been edited by wayne5491: Jun 20 2020, 05:26 PM
AVFAN
post Jun 20 2020, 05:43 PM

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QUOTE(wayne5491 @ Jun 20 2020, 05:24 PM)
I was told by an mplus rep that the silver account is self service (no remisier), basically like rakuten but direct account instead of nominee.

With gold account, minimum brokerage charge is rm10 (instead of rm8 for silver) you get a remisier, and collaterisation as well as leverage.

Is it the same for you guys or they have changed the policy for new clients? Or perhaps I misunderstood the rep?
*
ok, u meant rm10 vs rm8... but that is only min... more impt is the % brokerage.

yea, i think u got it right.

i m considering only...
samfine11
post Jun 22 2020, 11:41 AM

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sry,boss,have a question,we reg m+gold,trading limit can up till 3x of our cash,and when we need to settle?and the rate??tq boss
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post Jun 30 2020, 12:46 PM

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QUOTE(ChiaW3n @ Jun 14 2020, 09:24 AM)
Keep informed, because I just submitted last Friday too
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my account approved today

adfk
post Jul 1 2020, 06:03 PM

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May I know who is using Amequities currently?

I would like to know whether the service and platform is good as it offered cheaper rate of 0.05% compared against to 0.08% of M+. Wondering everybody recommended M+ instead of Amequities.

Thanks.
darkdevilrey
post Jul 4 2020, 06:59 AM

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how is M+ compared to Maybank trade
BacktoBasics
post Jul 15 2020, 09:51 AM

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So M+ Gold is with remisier whereas M+ Silver is without?
on9-shop
post Jul 15 2020, 05:43 PM

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I have HLeBroking nominee account, but planning to open M+ Direct Account for IPO application.
My worries is how to handle the Paperwork on Corporate Exercise, will the M+ inform me when action needed? Is it complex to handle?
Dreamer09
post Jul 16 2020, 05:48 AM

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QUOTE(BacktoBasics @ Jul 15 2020, 09:51 AM)
So M+ Gold is with remisier whereas M+ Silver is without?
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All products, M+Silver, Gold, etc is attached with a dealer or remisier.

This post has been edited by Dreamer09: Dec 19 2020, 06:54 AM
Dreamer09
post Jul 16 2020, 06:12 AM

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QUOTE(on9-shop @ Jul 15 2020, 05:43 PM)
I have HLeBroking nominee account, but planning to open M+ Direct Account for IPO application.
My worries is how to handle the Paperwork on Corporate Exercise, will the M+ inform me when action needed? Is it complex to handle?
*
No matter which broker you use for direct account, none of them will inform you on the procedure or action needed (the industry dont work as a spoon feed society unless your brokerage contribution is very much significant to any of them). Instead, you can always ring them up on the procedure or action need and they will guide you from there if you have any questions.
BacktoBasics
post Jul 16 2020, 11:14 AM

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QUOTE(Dreamer09 @ Jul 16 2020, 05:48 AM)
All products, M+Silver, Gold, etc is attached with a dealer or remisier.

If you signup with remisiers, it depends whether the remisiers only accept M+ Silver accounts due to minimum risk given that transactions are all based on cash upfront. Some remisiers only take in M+ Gold accounts because they can earn higher brokerage fees while able to provide you extra trading limit, which suites mostly for contra traders. However, they also bear the risk if clients were not able to pay them back in time for any contra losses. But most of the time, these remisiers takes in both M+Silver or Gold accounts.

If you signup with a dealer, you are free to choose whichever account suits your needs.

If the remisier tells you that he/she does not accept M+ Silver, can pm me and will introduce you to those that accepts any accounts.
PS; im from M+ but im neither a remisier nor dealer.
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alright thanks for your advice. I just signed up for M+ Silver. waiting for approval for account creation.

it says one month to get approval... usually take that long??
PSS2020
post Jul 16 2020, 11:36 AM

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I went to the branch thinking walk in can be faster, but the staff said open online faster few weeks, if walk in 1 to 2 months.. Kind of non sense
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post Jul 16 2020, 02:10 PM

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QUOTE(BacktoBasics @ Jul 16 2020, 11:14 AM)
alright thanks for your advice. I just signed up for M+ Silver. waiting for approval for account creation.

it says one month to get approval... usually take that long??
*
Ya I was told the same thing also. Opened a week ago, CDS already approved in a day but still pending on Mplus side to register into their platform, which apparently took 1 month ++ (excuse given was too many people applying).
BacktoBasics
post Jul 16 2020, 02:24 PM

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QUOTE(servant_fox @ Jul 16 2020, 02:10 PM)
Ya I was told the same thing also. Opened a week ago, CDS already approved in a day but still pending on Mplus side to register into their platform, which apparently took 1 month ++ (excuse given was too many people applying).
*
hahaha i already have a CDS account but switching from Maybank Trade to M+. But they didnt even send me an email on the processing hahaha
ChiaW3n
post Jul 16 2020, 03:40 PM

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QUOTE(PSS2020 @ Jul 16 2020, 11:36 AM)
I went to the branch thinking walk in can be faster, but the staff said open online faster few weeks, if walk in 1 to 2 months.. Kind of non sense
*
My M+ account finally ready after one months plus about two months.

P/S: I applied by myself.
Dreamer09
post Jul 16 2020, 06:19 PM

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QUOTE(BacktoBasics @ Jul 16 2020, 11:14 AM)
alright thanks for your advice. I just signed up for M+ Silver. waiting for approval for account creation.

it says one month to get approval... usually take that long??
*
This post has been edited by Dreamer09: Jan 31 2021, 09:56 AM
BacktoBasics
post Jul 16 2020, 10:47 PM

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QUOTE(Dreamer09 @ Jul 16 2020, 06:19 PM)
Back in the days, its normally within a week.

But due to the recent influx of account openings from retail investors, processes has been delayed even when staffs are working on weekends to process the documents. Monthly account openings are breaking record high compared to pre-Covid-19 levels. Current situation is similar with glove players  now whereby demand has seen unprecedented rise while production are running at full capacity.

You can checkout the broker ranking that M+ is ranked number 8 in June 2020 at https://www.bursamalaysia.com/sites/5bb54be....pdf?1593592862
Thanks for the advice.
This compared to December 2019 when is nowhere to be found at https://www.bursamalaysia.com/sites/5bb54be....pdf?1578023343

This shows the sharp rise in the number of new clients in recent months.

The new norm now is about a month. You can give them a call if you dont receive any updates by then to check on the status.
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Thanks for the advice. Appreciate it alot

This post has been edited by BacktoBasics: Jul 16 2020, 10:48 PM
annoymous1234
post Jul 17 2020, 01:20 AM

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Which broker has stop loss feature?
Kilohertz
post Jul 17 2020, 11:31 AM

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How easy to open M+ account? everything just do online is it?
Stusssy
post Jul 17 2020, 11:58 AM

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QUOTE(Kilohertz @ Jul 17 2020, 11:31 AM)
How easy to open M+ account? everything just do online is it?
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user posted image
PSS2020
post Jul 17 2020, 01:17 PM

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QUOTE(ChiaW3n @ Jul 16 2020, 03:40 PM)
My M+ account finally ready after one months plus about two months.

P/S: I applied by myself.
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You mean you applied online?

Seems Affin Hwang has the largest market share, what's difference compare to HL and MB...
ChiaW3n
post Jul 17 2020, 02:18 PM

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QUOTE(PSS2020 @ Jul 17 2020, 01:17 PM)
You mean you applied online?

Seems Affin Hwang has the largest market share, what's difference compare to HL and MB...
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Yeap I applied online but waited for weeks!!!
niel
post Jul 26 2020, 12:28 PM

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Anyone has experience with FPX money into M+ lately? 4th day now and status is still "pending confirmation". Help channel does not seem to be responding.
Cubalagi
post Jul 26 2020, 12:48 PM

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QUOTE(PSS2020 @ Jul 17 2020, 01:17 PM)
You mean you applied online?

Seems Affin Hwang has the largest market share, what's difference compare to HL and MB...
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Affin Hwang has a lot of big shark clients.. prop trader types, algo types..
Cubalagi
post Jul 26 2020, 12:49 PM

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QUOTE(niel @ Jul 26 2020, 12:28 PM)
Anyone has experience with FPX money into M+ lately? 4th day now and status is still "pending confirmation". Help channel does not seem to be responding.
*
Normally brokers don't count weekends
cyl388
post Jul 28 2020, 04:36 PM

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QUOTE(Cubalagi @ Jul 26 2020, 12:49 PM)
Normally brokers don't count weekends
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Normally how long it takes? Instantly or ..
Cubalagi
post Jul 28 2020, 04:52 PM

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QUOTE(cyl388 @ Jul 28 2020, 04:36 PM)
Normally how long it takes? Instantly or ..
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Next working day for some. I know Rakuten is same day tho..


4eyeco
post Aug 2 2020, 08:24 PM

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Anyone tried opening M+ account lately?

When i tried to register online, it prompt me to leave my email and hp number, stating they will contact me with appointment time.

However it has been more than a week and i have not received anything yet.

Anyone experienced the same?
rko1268
post Aug 5 2020, 10:31 AM

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QUOTE(4eyeco @ Aug 2 2020, 08:24 PM)
Anyone tried opening M+ account lately?

When i tried to register online, it prompt me to leave my email and hp number, stating they will contact me with appointment time.

However it has been more than a week and i have not received anything yet.

Anyone experienced the same?
*
yes they did not approach me too after i apply for appointment
so i pm their fb and their rep call me and say can directly go to their branch to open account.. make sure bring along the bank statement as well
Gold_Moderator
post Aug 5 2020, 11:19 AM

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QUOTE(4eyeco @ Aug 2 2020, 08:24 PM)
Anyone tried opening M+ account lately?

When i tried to register online, it prompt me to leave my email and hp number, stating they will contact me with appointment time.

However it has been more than a week and i have not received anything yet.

Anyone experienced the same?
*
try walkin , will be faster. their agents kinda slow

they have so many branches.

https://mplusonline.com/contact-us/


Kar Weng
post Oct 29 2020, 03:53 AM

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I encounter this line when I'm trying to open a CDS account under M+ online (I'm currently a Rakuten Trade user).

"At the end of the application form you may key in the ‘Dealer Code’ for your preferred Dealer Representative which you may acquire from your Dealer Representative. Alternatively, a dealer representative will be assigned for you if it is not filled. Kindly note that switching of dealer representative will NOT be allowed."

What does it mean and is there any importance as to which "dealer representative" I'll be dealing with?
Vrese
post Nov 12 2020, 08:52 PM

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QUOTE(Kar Weng @ Oct 29 2020, 03:53 AM)
I encounter this line when I'm trying to open a CDS account under M+ online (I'm currently a Rakuten Trade user).

"At the end of the application form you may key in the ‘Dealer Code’ for your preferred Dealer Representative which you may acquire from your Dealer Representative. Alternatively, a dealer representative will be assigned for you if it is not filled. Kindly note that switching of dealer representative will NOT be allowed."

What does it mean and is there any importance as to which "dealer representative" I'll be dealing with?
*
Did you succeed opening an account?
Reader2008
post Nov 21 2020, 05:34 PM

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Hi, can I know how does a direct account (M+) deal with corporate action?

Is it expensive and troublesome?

Currently using Rakuten, thinking to switch to M+ but worry of the tedious process for corporate action.

Hope to get some advice here, thank you.

(Reason to switch: Chances to apply for IPO & better mobile platform)

This post has been edited by Reader2008: Nov 21 2020, 05:36 PM
skynode
post Jan 10 2021, 07:50 AM

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QUOTE(Reader2008 @ Nov 21 2020, 05:34 PM)
Hi, can I know how does a direct account (M+) deal with corporate action?

Is it expensive and troublesome?

Currently using Rakuten, thinking to switch to M+ but worry of the tedious process for corporate action.

Hope to get some advice here, thank you.

(Reason to switch: Chances to apply for IPO & better mobile platform)
*
In terms of mobile platform, I honestly the trophy goes to Rakuten. It is very fluid, intuitive, minimalistic with a modern design. Sometimes less is more.

Mplus desktop app has more bells and whistles than one can ask for, but its mobile app is not as intuitive as Rakuten iSpeed's.

In terms of fees, Mplus is only slightly cheaper than Rakuten if your trade is less than RM10k.

Advantage of Mplus is that you get a direct CDS account; whereas Rakuten gives you a nominee account.

My suggestion is to try both and see which do you like better. I use Mplus for dividend cash cows and Rakuten for growth/speculative stocks.

This post has been edited by skynode: Jan 10 2021, 07:51 AM
respectmypm
post Jan 10 2021, 07:51 PM

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hi. if anyone interested in opening mplus cash account(means no margin provided), you can go to telegram and open this channel that provide guides on how to register online.

https://t.me/bukamplusonline

Kar Weng
post Jan 12 2021, 10:52 PM

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QUOTE(respectmypm @ Jan 10 2021, 07:51 PM)
hi. if anyone interested in opening  mplus cash account(means no margin provided), you can go to telegram  and open this channel that provide guides on how to register online.

https://t.me/bukamplusonline
*
Can Mplus account opening be done fully online?
respectmypm
post Jan 13 2021, 09:28 PM

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QUOTE(Kar Weng @ Jan 12 2021, 10:52 PM)
Can Mplus account opening be done fully online?
*
yes. now can be done fully online. no need to come to branch.
Kar Weng
post Jan 16 2021, 03:42 AM

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QUOTE(respectmypm @ Jan 13 2021, 09:28 PM)
yes. now can be done fully online. no need to come to branch.
*
Interesting! Where should I start?
brutus
post Jan 16 2021, 02:40 PM

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Sharing my experience recently. Applied M+Gold on 11/1 and was approved on 13/1. Started trading on 14/1. I had to walk in as M+Gold cannot do via online.
Was using KenTrade before, both platform very similar and both can view the RSS Vol.
Kar Weng
post Jan 16 2021, 05:42 PM

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QUOTE(brutus @ Jan 16 2021, 02:40 PM)
Sharing my experience recently. Applied M+Gold on 11/1 and was approved on 13/1. Started trading on 14/1. I had to walk in as M+Gold cannot do via online.
Was using KenTrade before, both platform very similar and both can view the RSS Vol.
*
That’s a quick process! Just wondering, how’s the M+ gold you mentioned different from M+?

Is it important for us to view the RSS vol btw?
brutus
post Jan 16 2021, 08:26 PM

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QUOTE(Kar Weng @ Jan 16 2021, 05:42 PM)
That’s a quick process! Just wondering, how’s the M+ gold you mentioned different from M+?

Is it important for us to view the RSS vol btw?
*
M+ is used to be known as Malacca Securities, they rebranded it to M+ (M Plus).
They offer 3 types of trading account ie M+Silver (Cash Upfront), M+Gold (Collateralize) and M+ T7.
Kar Weng
post Jan 16 2021, 11:59 PM

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QUOTE(brutus @ Jan 16 2021, 08:26 PM)
M+ is used to be known as Malacca Securities, they rebranded it to M+ (M Plus).
They offer 3 types of trading account ie M+Silver (Cash Upfront), M+Gold (Collateralize) and M+ T7.
*
I only need the Silver. How can I do a full online registration without going to any physical branch?
brutus
post Jan 17 2021, 08:25 AM

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QUOTE(Kar Weng @ Jan 16 2021, 11:59 PM)
I only need the Silver. How can I do a full online registration without going to any physical branch?
*
If not mistaken you can apply thru their official website. Just follow the instructions there.
Do update your application journey here.

This post has been edited by brutus: Jan 17 2021, 10:36 AM
Y120 P
post Jan 18 2021, 11:14 PM

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Hi, I am new to the stock market and currently struggling with either using Rakuten or M plus.

From what I know after some research
Rakuten: - Nominee account, user friendly like their mobile apps is better (?), faster response, slightly higher brokerage fees
M plus - Direct account and no need to open CDS account at Bursa Malaysia (?), lower brokerage fees, cover the overseas stock market, bad customer service

Please correct me if am wrong and give some advice for me (prefer value investing (long-term), focus on the local market, only have 2k for investing)

Thank youuuuuu!
honsiong
post Jan 19 2021, 12:25 AM

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QUOTE(Y120 @ Jan 18 2021, 11:14 PM)
Hi, I am new to the stock market and currently struggling with either using Rakuten or M plus.

From what I know after some research
Rakuten: - Nominee account, user friendly like their mobile apps is better (?), faster response, slightly higher brokerage fees
M plus - Direct account and no need to open CDS account at Bursa Malaysia (?), lower brokerage fees, cover the overseas stock market, bad customer service

Please correct me if am wrong and give some advice for me (prefer value investing (long-term), focus on the local market, only have 2k for investing)

Thank youuuuuu!
*
1. M+ has higher brokerage fees than Rakuten
2. Both need to open CDS accounts but brokers handle it for you
3. Both do not trade foreign stocks, only KLSE
4. Rakuten cannot trade Gold ETF for unknown reasons, M+ can
5. M+ has less downtime than Rakuten. Rakuten uses some ispeed thing with kenanga and is infamous on lowyat forum for going down often.

Direct account allows you to attend AGM and makan buffet, get door gifts. Use it if you live in Malaysia.
Nominee account can help you handle corporate actions online, only good if you live outside Malaysia.

Kar Weng
post Jan 29 2021, 04:48 PM

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QUOTE(honsiong @ Jan 19 2021, 12:25 AM)
1. M+ has higher brokerage fees than Rakuten
2. Both need to open CDS accounts but brokers handle it for you
3. Both do not trade foreign stocks, only KLSE
4. Rakuten cannot trade Gold ETF for unknown reasons, M+ can
5. M+ has less downtime than Rakuten. Rakuten uses some ispeed thing with kenanga and is infamous on lowyat forum for going down often.

Direct account allows you to attend AGM and makan buffet, get door gifts. Use it if you live in Malaysia.
Nominee account can help you handle corporate actions online, only good if you live outside Malaysia.
*
Does M+ have lower brokerage fees when trading at higher amount though?

SUSxnxx
post Feb 16 2021, 01:54 AM

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Which brokerage account is the smoothest?
BaZingLa
post Mar 6 2021, 09:16 PM

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whats the difference between m+ silver gold and t7? i still dun understand after reading the overview
honsiong
post Mar 6 2021, 11:04 PM

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QUOTE(BaZingLa @ Mar 6 2021, 09:16 PM)
whats the difference between m+ silver gold and t7? i still dun understand after reading the overview
*
Choose silver. Top up $ before you trade, least mistakes made.

Gold and T+7 are for gamblers... I mean margin traders.
deric79k
post Mar 9 2021, 12:16 AM

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i am totally new into this , really dont know which ac should i open, just want learn to trade , anyone can advice?

Kar Weng
post Mar 9 2021, 12:53 AM

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QUOTE(deric79k @ Mar 9 2021, 12:16 AM)
i am totally new into this , really dont know which ac should i open, just want learn to trade , anyone can advice?
*
Can try Rakuten Cash Upfront account
deric79k
post Mar 9 2021, 01:32 AM

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QUOTE(Kar Weng @ Mar 9 2021, 12:53 AM)
Can try Rakuten Cash Upfront account
*
thanks for advice
streetmonkey
post Jun 1 2021, 09:47 PM

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i've got a (silly) question though, is it legit to open m+ acount through klse i3investor? 2 years using maybank, thinking to jump ship
privatequity
post Jun 1 2021, 10:34 PM

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QUOTE(streetmonkey @ Jun 1 2021, 09:47 PM)
i've got a (silly) question though, is it legit to open m+ acount through klse i3investor? 2 years using maybank, thinking to jump ship
*
better create via a remisier. my remisier is good n helpful. if you want his contact u can pm me.
honsiong
post Jun 1 2021, 11:29 PM

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QUOTE(streetmonkey @ Jun 1 2021, 09:47 PM)
i've got a (silly) question though, is it legit to open m+ acount through klse i3investor? 2 years using maybank, thinking to jump ship
*
I think I used the i3 link years ago, they will still assign a remisier to you, even though you probably will never talk to them ever.

yibaandre
post Jun 13 2021, 05:23 AM

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is it possible to open a direct cds account with m+
and then open a nominee cds account with rakuten ? unsure.gif
Rakuten Trade
post Jun 13 2021, 11:41 AM

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QUOTE(yibaandre @ Jun 13 2021, 05:23 AM)
is it possible to open a direct cds account with m+
and then open a nominee cds account with rakuten ?  unsure.gif
*
No problem one icon_rolleyes.gif
yibaandre
post Jun 13 2021, 07:36 PM

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anyone register mplus recently ?
what is this "dr code" that have to fill up ?
is it the remisier code ? if leave empty , mplusonline will auto assigned one ?

 

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