split into wahed and SA and maybe buy some genting shares

Good move but i recommed to put into wahed as it shariah compliance

i'm not muslim so not bothered with the shariah thingy

You can sell today.
USD touches 4.177X

But the exchange rate they are using is USD 1 = RM 4.148

I have RM 9313 they only allow me to withdraw RM 9183. Lost of RM130.36.

Ok la MyTheo really cannot d lol.

This post has been edited by zstan: Feb 20 2020, 10:52 AM

already cashed out . I lost money due to fee & forex. Investment did not bring home enough money to offset.
Anyway they are start up mode , they are very concern people closing acocunt.

I got a call from them asking why i closed. I said i am an idiot in investing . I jumped onto these platform was hoping the app help me invest but it does not bring home the money.

They said it was a wrong time to close the account because our ringgit strengthen against the US . Instead i should cash-in now . But then i told them , FD is guaranteed return although is low .

Seriously?

Are you performing full withdrawal?

This post has been edited by GrumpyNooby: Feb 20 2020, 01:08 PM

If it's few weeks ago yeah, then again it's not significantly
If they said due to the virus, still kinda acceptable

My portfolio ROI is 3.x% only.

Compared to SAMY.

This post has been edited by GrumpyNooby: Feb 20 2020, 01:18 PM

Yea, I request for close account. However the process is not immediate and while waiting for the account to close , it is still trading .
When i cash out , i remember i was above my initial investment of RM500 ... maybe RM505.00 something like that.
then at one point while waiting for it to close , it went below RM500.

Unsure what you mean but i had RM500 in there for 4 months.

Thanks for sharing bro.

Maybe it is Not a good investment tool.

I wouldn't say good or not good. I am sure there is more technical knowledge going into these type of platform.
However for someone that have zero knowledge on investing , it boils down to simple maths.

If i put RM500 , i should get more than RM500 at the end of each period
take FD for example ; RM500 at avg of 3% per annum ; and the end of of the 4 months ; should have RM505-ish
This is guaranteed income.

for MyTHEO , during my 4 months .. i see as high as RM520 . but if you cash out the wrong time and after minus all the fee and forex. I probably worse off at the end of 4 months which was what happened to me.
With MyTHEO , many other consideration before you can cash out with a profit.

oh another key point for MyTHEO according to the guy on the phone call was ..... low starting value. RM100 you can invest already while FD is much higher.

For starter, you shouldn't compare it to FD.

FD is a saving while this myTHEO is an investment like buying mutual fund/unit trust.

When involving investment, nothing is guaranteed; being its capital nor the return.
One needs understand the underlying risk involved.

This post has been edited by GrumpyNooby: Feb 20 2020, 02:03 PM

agreed. not worth the extra risk for the lower return

I got your point.
This is where people like me are dummy in investing , I took FD as "investing" our saving for guaranteed return.
The MyTHEO proposition to us newbie sounds very promising. The app has the intelligence from Japan that will manage your investment and risk ...well

when you make money ; they will also make money
when you lose money ; they still make money

I meant that person blaming currency exchange for the losses it's not completely correct.

Did you DCA? Topping up in between the 4 month?

When you invest, there's risk of profit and losses
And of cos, depending on which investment tool, the % of gain and losses are different.

With etf, there's potential of gain averaging of 8 to 10% (based on s&p500)
And it's practically impossible to see that gain in mere months especially with current global market conditions

Although with SA, deposited on July 2019 and as of now approximately 9% ROI.

From my observation, MyTheo is trying to diversify too much and all those eggs did not hatch when the world's economy went on a roller coaster ride.

Compared to SA which has lesser ETFs and for Wahed having only four funds but the returns are much much more higher.

also closed

negative returns even at a time when markets are setting new records

FD yields much more

unsure about the lingo used. What is DCA?
but i did not top-up .
just one time RM500 just to test water.

i totally agree to the risk and also you may say 4 months is too short.
however from my noob perspective , I compared day by day , week by week and I see an even up and down.
if it maintain like that for next 12 months , in the end i may end up with the same RM500.

DCA = dollar-cost averaging

In layman term, periodically you put X amount of money weekly/monthly or any predefined in-between duration