Hi.

I'm currently using CIMB, and there seems to be lots of fees, especially for Dividends. I understand the need for tax withholding for dividends from US stocks, but the CIMB fees took a lot from the pie.

(1) Which brokerage has the lowest fees?

I looked at comparison pages like https://dividendmagic.com.my/malaysia-stock...ers-comparison/, and CIMB is in the list of recommended ones. Does it that i'm already using the top 10 cheapest broker?

(2) How do I transfer my shares from one broker to another?

This post has been edited by bret7: Dec 14 2019, 10:28 AM

i read a few thread before. they mention u cannot transfer..
if u go open hong leong, they will open new ones
public, they will open new one

in hand i got three account for shares.. but only uses 2

Which market are you trading with cimb? There shouldn't be any dividend fee for Malaysian dividends.

U can transfer between brokers. U hand in a transfer form with a fee of RM10.

If you are only buying Malaysian stocks Mplus have the lowest price and no fee.
Form what I know Malaysian broker don't charge for dividend. They charge you if you are buying overseas stocks.
If you are buying international stocks, interactive broker is thew way to go. If you have no money for interactive broker can consider their whitelabels (tradestation global, Captrader, zacktrade)

Now you know why local brokerage is not the best brokerage for international stocks.

Can transfer. You need to let both your broker know. Email your broker for more info.

Sounds like buying international stocks only.

This post has been edited by Ramjade: Dec 14 2019, 01:04 PM

Are you using CIMB because that's your main bank?
And are you buying local or foreign stocks?

Ah, new terms (interactive broker, whitelabels). I'll research them.

So, even for Rakuten which states 0 dividend charges (it didn't mention whether it's free for international stocks), there'll be charges as well?

Just mainly because it's nearby. Only foreign stocks so far.

Oops, it seems like Rakuten is Bursa only

I have an acct with Maybank and they charge a fee everytime I receive dividends, ranging from RM5-8

Malaysian stocks? Direct CDS account? Strange if u r charged.

Looking at https://www.hlb.com.my/content/dam/hlb/my/d...-FAQ-291116.pdf, Hong Leong charges a flat RM2.50 for dividends as well

Yes all malaysian stocks and after a few years keep getting hit with charges I transfer them to a brokerage firm where I don't get charged

It's been many years since I've compared local brokerage fees. Is MPlus still the cheapest in terms of minimum fee and/or percentage terms? I don't care about platform, service or other types of support offered. Just trying to keep my cost as low as possible.

If you tend to buy less than RM1000 stocks, Rakuten will be better (rm7 brokerage for transactions less than rm1000)

If you tend to keep your buys around rm1000-rm8000 mark, M+ will be better at rm8 flat brokerage. Rakuten used to be the same but they revised for year 2020 to be rm9 flat for rm1000-9999 range.

Still cheap, but I think nowadays some IB are offering same rate for cash upfront online trades.

I would advise you to choose a broker carefully, because paying more attention to low fees, you ignore other important indicators, such as the reliability of the broker, the penalty for early withdrawals, obligations written in small print, and so on. in this case one cannot compensate for the other. It is important to find a truly balanced broker in all areas

Actually mplus is veey good. Very low fees and no nonsense additional fees.

Maybank and most bank based nominee account charges fee for each dividend. Opt for direct account.

I am using RHB (previously OSK), being dormat users for quite a while. Now wish to "play" small small again. Is the current broker is good?

Maybank brokerage fees only at 0.1% or minimum RM8. The cheapest in town.

M+ is charging dividend handling fees of HKD50 ~ rm28/29 each time the hang Seng listed company made dividend payment.

It is on the high side….any other platform which charges lower fees for dividends?