Anyone tried to invest in US stock and ETF using MIDF app?

They just launched on 06.07.2021.

Kindly share the friendliness of the platform, fees, deposit time, fund availability to start trade and range of stock & ETF available to invest.

Here is the link for the news:
https://www.theedgemarkets.com/article/midf...stocks-and-etfs

I think it's mobile apps, found it in play store , but the reviews very bad, makes me think whether to try this out or not

It's 5 stars with 11 reviews on App Store though.

I will consider MIDF for now because 0 brokerage fees till 31 July, and obviously regulated and approved by SC. And I don't have to try to open a CIMB account. especially now banks only taking in walk-in appointments.

Interesting

Whats their fee structure?

Tiger and moomoo is regulated by MAS as well. CIMB fastsavers is totally online.

The fees for MIDF is also insane.

Until July: Trade Value ≤ USD1,000, Brokerage: USD0T
Trade Value > USD1,000, Brokerage: USD5 min or 0.40% of trade value

So trades is going to be at 0.4% of value?

Stamp Duty - RM1 for every RM1,000 equivalent value(capped at RM200)

Custody fee - 0.06% p.a. of the daily market value of your investment portfolio with us and will be deducted directly from your USD Cash Account on a daily basis.

oh cool, another local non-banking platform beat FSM in the race to offer NYSE brokerage! am i missing something or does the fees doesn't seem all that bad? I'm interested to use this to buy and hold ETF for the long term:

- 0.06% p.a. custodian fees - for RM100,000 total asset value, they will charge RM60 per annum only? not bad right?

- 0.40% for each trade (minimum USD5) - ok yea this one will hurt. so maybe what we can do is just gather about RM2000 before making a lumpsum trade? so i would get hit with about 1.25% trade fees only. Not too bad compared to mutual funds.

let me know if i got any fee or calculations wrong. this seems like a better route for people like me who are paranoid about opening overseas account to fund the more reputable brokers (tiger, moomoo, tsg ibkr, etc). anyway, i'm holding out to see if FSM can provide a more competitive rate when they finally allow overseas trading

What's TD? Sorry newbie question

Holy shit. Thanks a lot!