I have opened a CDS account with a remisir in maybank investment bangsar, i purchased a stock amount of rm11k, so yesterday i just transfer the funds to my cds account with enough cash, but today i receive the outstanding alert to pay for the stocks(due date), my account have cash but i do not know how to pay, and my remisir is making noise that i did not send him receipt for transferring the money, i told him I'm using apps got no receipt, he said it will be a contra trade, after that he did not reply my WhatsApp anymore, so what will happen to my stock account as I'm still new in this things.

Your account is cash account?
You must inform your remisier everytime you make deposit by showing receipt.
The due date thing is nothing if you have money inside. It just means your money will be transferred to the seller's account in T+2.
Not sure what he meant by contra. Maybe your remisier sold it off because the money is not reflected in your account. Log in and check.

I see. He said contra trade mean he will sell my shares and stock for me

Anyway i found he is unhelpful i wanted to close this cds account and open a new one with no remisir is it possible? Because this current cds account cost me 0.42% for his commission if i open outside at the branches will be only 0.1% comm

Request for a cash account. I think yours is not cash.

I'm using Maybank also.

You should have open the cash account. Only 0.01%

Open at Subang Maybank Investment Bank, the remiser there more helpful.

This post has been edited by liangzai84: Apr 9 2020, 08:19 PM