the registration process of M+ Global requires me to open CDS account

https://www.bursamalaysia.com/trade/trading...pository_system

"Investors who wish to trade in securities listed on Bursa Malaysia must open CDS accounts with Authorised Depository Agents (ADAs), i.e. stockbroking companies"

So why open when you cant access Bursa stocks in M+ Global?

u can search Ziet videos on youtubebut of course, the USDMYR rate mbb will give u is bad

Because SC regulation 🤦‍♀️ requires you to have a Bursa CDS account before you can open M+ Global because seperate entities due to taxation

After back and forth email with support team from Malacca Securities, turns out there's a M+ Online activation email lost in transit during signing up process for M+ Global. They resend the M+ Online activation email and all is good. Finding advice here seems like a bad choice.

Hahaha. Relax, mostly in lyn using ibkr if buy us stocks.
No idea with m+ global is normal plus this global platform still new ya.

Never ask advice here 🤦‍♀️ always go back the platform source of support before asking as no one here would have the access to the platform to give you support

Seems like when they activate your account they didn’t do the pairing properly

The forex rate is converted at T+2 upon settlement if your account does not have enough USD from prior trade or 1st trade. It is not converted at spot rate (refer to 'Cash Movement' header in statement). This follow a traditional brokerage whereby foreign trade is settled at T+2 although this is a 'cash account' (non margin).

For Rakuten & MIDF, the conversion is based on trade spot rate or can convert in advance to park into 'USD' account. This allows flexibility if the forex is lower .
For M+, cannot convert MYR to USD in advance even though rate is cheaper unless there is a trade settlement.

For seeking help on trade related in M+ Global or app feature, have to ask CS for the assigned dealer/ broker phone no.The PIC name is printed in 1st page top right corner in your Statement.

The CS in M+ is not full feature, just assisting in admin (clerical) function only. This is unlike Rakuten & MIDF whereby CS is fully functional one-stop centre.

This post has been edited by mot88: Jul 19 2023, 09:10 AM

Terrible customer service (online chat)... I rather use IBKR/Rakuten/FSM tbh...

This post has been edited by melondance: Jul 24 2023, 05:02 PM

Anyone using this to sell options? How's the experience?

Switching back to MIDF Invest as they lowered their fee to USD1.99 min, slightly higher than Rakuten , but best of all, MIDF has the most variety of shares among other local SC regulated players.


If M+ Global does not revise their current USD 3 min fee, its pretty one of the most expensive brokerage fee.

Pensan,

Guys can tell me what is IBKR ? I'm currently buy stock in etoro

IBKR is a short form ?

https://forum.lowyat.net/topic/4843925

Go do a Google search 🤦‍♀️ Interactive Brokers

What do you mean by variety of shares?

The choices of shares tradeable.

As in shares from foreign exchanges other than the us? Like from LSE , Tokyo stock exchange,TSX etc. Or you mean on those other brokers only some US stocks can be bought like large caps while small caps are not available?

M+ global really quite inflexible at the current moment, I just spoken to the customer service if it is possible to convert my MYR into USD immediately after my deposit to lock in the exchange rate first while thinking on which share to buy but they say there is no such option. My MYR that was deposited can only be converted to USD when purchasing a US share

Withdrawal process is cumbersome as well, if you have balance in different currencies, you'll have to make withdrawal request for each of those balance.

What's funnier is that I made a withdrawal request on 31 Oct, and they reject my withdrawal request, for my own good, because they want to pay me trust interest lol.

All this coming from their live chat because my remisier is totally useless and can't provide me with the most basic information, keep on just asking me to refer to the FAQ.

I recently bought into ETFs on the app and I was wondering if the dividends we get from the ETFs are directly reinvested back into the share or not? Anyone got the answer for this?