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MIDF Invest, US stocks and ETFs
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TSzacknistelrooy
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 Jul 6 2021, 10:36 PM, updated 5y ago
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QUOTE https://play.google.com/store/apps/details?id=my.com.midf.pdg QUOTE https://apps.apple.com/my/app/midf-invest/id1547372377 https://www.theedgemarkets.com/article/midf...stocks-and-etfsQUOTE MIDF Amanah Investment Bank Bhd today launched MIDF Invest, an online investment platform which allows Malaysian customers to trade US stocks and Exchange Traded Funds (ETFs).
The platform is offering free brokerage for all trades under US$1,000 (RM4,150), from July 6 until July 31, 2021.
MIDF group managing director Datuk Charon Wardini Mokhzani said the launch of the online trading platform is against the backdrop of growing interest in investing in other markets, particularly in the US stock markets, among Malaysian investors in recent years.
"This is driven by the need to diversify one's portfolio as well as the attractions of the high returns of the US markets, driven in part by the performance of technology companies. We have created this app because we believe that investing overseas should be made available and affordable for all," said Charon.
When asked about the brokerage fees after the promotion period ends, MIDF head of digital Khairi Shahrin Arief Baki was tight-lipped, but said that the group aims to attract more users to join its online trading platform by taking advantage of the current promotions for their investment.
"We will inform the users the details (about the brokerage fees) before the end of promotions, or sometime around end-July. The rates will be very competitive," Khairi told the press after the virtual launch.
Moving forward, Khairi said the group also plans to expand more overseas stock markets to allow its customers to trade in its online trading platform by the next three to 12 months.
Currently, the online trading platform will give Malaysians direct and secure access to US stocks and ETFs, particularly on the New York Stock Exchange and Nasdaq.
This product is delivered in partnership with Saxo Markets Asia Pacific. Saxo Markets is a licensed subsidiary of Saxo Bank, a well-regulated and industry-leading provider of investment services and technology.  |
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TSzacknistelrooy
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Jul 6 2021, 10:36 PM
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Reserved for more info
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sadukarzz
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Jul 6 2021, 11:38 PM
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Interesting .. no doubt the trading fee is basically free during promo time..
stamping fee rm1,000 = rm1
but on the custodial fee.. any elaborations on that?
how to calculate the 0.06% p.a?
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frankliew
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Jul 7 2021, 10:03 AM
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Brokerage: USD5 min or 0.40% of trade value costly for me. For custodial fee apa ni. IF have 50k USD, everyday deduct $30?
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east_wing
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Jul 7 2021, 10:41 AM
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Getting Started
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QUOTE(frankliew @ Jul 7 2021, 10:03 AM) Brokerage: USD5 min or 0.40% of trade value costly for me. For custodial fee apa ni. IF have 50k USD, everyday deduct $30? Got demo account to try out  |
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squarepilot
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Jul 7 2021, 10:57 AM
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How about the Tax issue. i registered but no declaration of non-US tax form to fill up
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squarepilot
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Jul 7 2021, 10:59 AM
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QUOTE(frankliew @ Jul 7 2021, 10:03 AM) Brokerage: USD5 min or 0.40% of trade value costly for me. For custodial fee apa ni. IF have 50k USD, everyday deduct $30? custodial fee per year is 0.06%, accured on daily basis i think |
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Ziet Inv
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Jul 7 2021, 12:53 PM
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Hi, may i know where did you get the source for the custodial fee?
I'm releasing a video this evening at 5pm, hopefully to give everyone a quick overview of the broker.
Cheers and have a great day everyone
This post has been edited by Ziet Inv: Jul 7 2021, 12:54 PM
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msbr91
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Jul 7 2021, 03:27 PM
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Getting Started
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QUOTE(Ziet Inv @ Jul 7 2021, 12:53 PM) Hi, may i know where did you get the source for the custodial fee? I'm releasing a video this evening at 5pm, hopefully to give everyone a quick overview of the broker. Cheers and have a great day everyone Waiting for your video.  |
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msbr91
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Jul 7 2021, 03:36 PM
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Getting Started
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QUOTE(frankliew @ Jul 7 2021, 10:03 AM) Brokerage: USD5 min or 0.40% of trade value costly for me. For custodial fee apa ni. IF have 50k USD, everyday deduct $30? Well for a local brokerage firm charging USD5 min. or 0.40% of trade value is cheap and price masuk akal for me. Compared with other local investment banks providing same service such as Maybank, CIMB CGS, Bank Islam and Affin. Most of them charged USD25 min. per trade. Plus point for MIDF Invest is the partnership with Saxo Bank. This post has been edited by msbr91: Jul 7 2021, 03:39 PM |
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SUSxander83
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Jul 9 2021, 05:25 AM
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QUOTE(msbr91 @ Jul 7 2021, 03:36 PM) Well for a local brokerage firm charging USD5 min. or 0.40% of trade value is cheap and price masuk akal for me. Compared with other local investment banks providing same service such as Maybank, CIMB CGS, Bank Islam and Affin. Most of them charged USD25 min. per trade. Plus point for MIDF Invest is the partnership with Saxo Bank. You have not factor as well with FX spread and commission hence it should cost more instead with 2% at least on top of it |
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Merubin
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Jul 11 2021, 05:08 PM
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Getting Started
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anyone tried to trade using the app? i spend more than 10 mins registering, stuck at IC step. keep saying my pic is blur
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jasper91
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Jul 12 2021, 01:17 PM
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Getting Started
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QUOTE(Merubin @ Jul 11 2021, 05:08 PM) anyone tried to trade using the app? i spend more than 10 mins registering, stuck at IC step. keep saying my pic is blur From what i heard, instead of upload the IC image from album, try snap it during the register process. n thats what i did when i registered it. As for the apps, im still playing around in it. n tried to buy a few stock. So far, there's no fractional share. only 1 share. |
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annoymous1234
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Jul 14 2021, 02:01 PM
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I managed to upload my IC without any issue. I snap it from my phone instead of upload, make sure you are in a Bright environment, the box must fit the info on IC. Also, I think it depends on your phone camera, I'm using iPhone so the camera is Sharp. If u are using a low or mid range phone maybe the focus is not good enough. Try borrowing someone phone to register is really can't. Now I'm just waiting for my application to be approve
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msbr91
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Jul 14 2021, 02:32 PM
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Getting Started
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Got news that M+ is also preparing to launch global market trading platform by end of this year. Hope the charges is reasonable like MIDF, not as expensive as Maybank, CGS-CIMB and RHB etc.
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annoymous1234
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Jul 15 2021, 12:49 AM
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QUOTE(msbr91 @ Jul 14 2021, 02:32 PM) Got news that M+ is also preparing to launch global market trading platform by end of this year. Hope the charges is reasonable like MIDF, not as expensive as Maybank, CGS-CIMB and RHB etc. More competition the better. Where did u read? |
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msbr91
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Jul 15 2021, 01:14 PM
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Getting Started
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QUOTE(annoymous1234 @ Jul 15 2021, 12:49 AM) More competition the better. Where did u read? Told by a M+ remisier and a M+ Wangsa Maju branch manager. |
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frankliew
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Jul 15 2021, 02:20 PM
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Soon more and more local broker offering
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fms21
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Jul 15 2021, 02:30 PM
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QUOTE(msbr91 @ Jul 14 2021, 02:32 PM) Got news that M+ is also preparing to launch global market trading platform by end of this year. Hope the charges is reasonable like MIDF, not as expensive as Maybank, CGS-CIMB and RHB etc. FSMONE and Rakuten also had plan to do that this year.. |
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msbr91
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Jul 15 2021, 10:09 PM
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Getting Started
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QUOTE(frankliew @ Jul 15 2021, 02:20 PM) Soon more and more local broker offering Yeah hopefully the fee is cheaper than. |
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msbr91
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Jul 15 2021, 10:11 PM
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Getting Started
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QUOTE(fms21 @ Jul 15 2021, 02:30 PM) FSMONE and Rakuten also had plan to do that this year.. Great! The more the merrier. Now as far as I know our local IB / broker providing global stock platform is Maybank, CGS-CIMB, RHB, Bank Islam (offline) and Affin Hwang. |
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ante5k
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Jul 20 2021, 04:52 PM
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QUOTE(msbr91 @ Jul 15 2021, 10:11 PM) Great! The more the merrier. Now as far as I know our local IB / broker providing global stock platform is Maybank, CGS-CIMB, RHB, Bank Islam (offline) and Affin Hwang. Kenanga Investment can also buy US stocks but the brokerage fee is high. |
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msbr91
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Jul 21 2021, 02:23 AM
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Getting Started
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QUOTE(ante5k @ Jul 20 2021, 04:52 PM) Kenanga Investment can also buy US stocks but the brokerage fee is high. May I know how much minimum Kenanga charged? |
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ante5k
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Jul 22 2021, 11:45 AM
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QUOTE(msbr91 @ Jul 21 2021, 02:23 AM) May I know how much minimum Kenanga charged? Total fees of RM87 to buy RM4200 worth of US stocks. |
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Msxxyy
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Jul 22 2021, 12:15 PM
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QUOTE(ante5k @ Jul 22 2021, 11:45 AM) Total fees of RM87 to buy RM4200 worth of US stocks. Mind blowing. No fcking way |
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msbr91
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Jul 22 2021, 06:29 PM
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Getting Started
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QUOTE(ante5k @ Jul 22 2021, 11:45 AM) Total fees of RM87 to buy RM4200 worth of US stocks. Cheaper than Maybank. Maybank USD25 minimum. |
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thecurious
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Jul 31 2021, 05:40 PM
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QUOTE(msbr91 @ Jul 31 2021, 07:28 AM) So after MIDF the latest local brokerage firm announcing their global trading platform is FSMOne. Now waiting for Rakuten Trade and Malacca Securities. https://www.fsmone.com.my/stocks/get-starte...G0z4fHHlcAHXG1YNot much high hopes for the remaining 2 now that 2/4 has such high fees. |
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frankliew
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Jul 31 2021, 05:48 PM
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MIDF $5/order
FSM $8.88/order
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msbr91
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Jul 31 2021, 11:00 PM
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Getting Started
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QUOTE(thecurious @ Jul 31 2021, 05:40 PM) Not much high hopes for the remaining 2 now that 2/4 has such high fees. I believe Rakuten and Mplus price for global trade will be between MIDF and FSMOne price range. Which is still far way cheaper compared to Maybank, CGS-CIMB & Affin Hwang which charges USD25 minimum. After all, these brokerage firms and investment banks are regulated by our SC. |
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usesoap
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Aug 1 2021, 08:51 PM
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Getting Started
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Hi there, anybody knows the latest brokerage fees for midf invest for less than 1000usd? Seems like no news on it or did i missed the boat 😅
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usesoap
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Aug 1 2021, 08:52 PM
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Getting Started
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Hi there, anybody knows the latest brokerage fees for midf invest for less than 1000usd? Seems like no news on it or did i missed the boat 😅
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ante5k
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Aug 2 2021, 03:20 PM
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QUOTE(usesoap @ Aug 1 2021, 08:51 PM) Hi there, anybody knows the latest brokerage fees for midf invest for less than 1000usd? Seems like no news on it or did i missed the boat 😅 Promotion extended from 31 July to 31 Aug. Still USD *0 for less than stocks valued less than USD 1000 |
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annoymous1234
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Aug 4 2021, 04:44 PM
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QUOTE(ante5k @ Aug 2 2021, 03:20 PM) Promotion extended from 31 July to 31 Aug. Still USD *0 for less than stocks valued less than USD 1000 No wonder. I keep seeing 0. Panic buy coz want to save on fees |
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hoilok
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Sep 18 2021, 11:23 AM
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How about the custodial fee is it worth it to buy with midf invest?
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cucumber
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Sep 18 2021, 11:32 AM
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How's the user experience? Any reviews?
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homosapien8888
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Sep 26 2021, 02:38 PM
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Getting Started
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hi , is it real time or delayed 15 min ?
i know a few famous investmentbank in malaysia like to charge high fee with poor service ( delay pricing )
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TSzacknistelrooy
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Sep 26 2021, 04:52 PM
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QUOTE(homosapien8888 @ Sep 26 2021, 02:38 PM) hi , is it real time or delayed 15 min ? i know a few famous investmentbank in malaysia like to charge high fee with poor service ( delay pricing ) QUOTE https://www.level2stockquotes.com/ The website above provides free quotes. No need to worry then who is charging what. |
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annoymous1234
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Nov 18 2021, 05:22 PM
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looks like the fees are out. USD 8 for <usd 1000 and usd 5 for >usd1000
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Soul Seeker
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May 3 2022, 05:54 PM
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Getting Started
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Anybody using this one ? Compare to IBKR or TDAmeritrade?
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