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 M+ Global, Buy US & HKD Stocks

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adam1190
post Oct 21 2023, 03:53 AM

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QUOTE(mot88 @ Jul 19 2023, 09:10 AM)
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.
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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 sad.gif

 

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