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 M+ Global, Buy US & HKD Stocks

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xander2k8
post Mar 8 2023, 12:55 PM

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Be prepared to deposit 10k for it
xander2k8
post Mar 8 2023, 09:34 PM

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QUOTE(jutamind @ Mar 8 2023, 07:54 PM)
Wonder why both Rakuten and this trading platform don't have trading for SG stocks?
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They need to SGX approval 1st

Most likely due to lack of presence of an office in Singapore as it is one of the requirements before getting broking license
xander2k8
post Mar 9 2023, 04:37 PM

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QUOTE(ivanpei @ Mar 9 2023, 01:43 PM)
What's the difference? Is it using IBKR platform too? rates? Are they holding the stocks on our behalf like Rakuten? Most likely it's going to be on our behalf so it's basically identical to Rakuten. I guess the exchange rates and the fees will be the only difference?
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Should be the same and competitive unless they are going with Saxo

QUOTE(cse.my @ Mar 9 2023, 02:48 PM)
That why i curious lo.. sumore kana lipot tered lol
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Who lipot 🤦‍♀️

Anyway good to have competition hence will bring down the brokerage fees in the future 👏
xander2k8
post Mar 9 2023, 05:05 PM

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QUOTE(cse.my @ Mar 9 2023, 04:57 PM)
Duno siapa lipot, maybe they think i doing business.

Damn copy paste haha
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Anyway it is legit just wait for 1st April launch
xander2k8
post Mar 9 2023, 05:22 PM

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QUOTE(Natsukashii @ Mar 9 2023, 05:08 PM)
1) Is it regulated by SC?

2) Can transfer in using FPX or card?

3) Can buy fraction shares?
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1. Should have otherwise they are in trouble
2. If SC regulated only FPX is allowed no cards 🤦‍♀️
3. Not possible with fractional shares because it is not cost efficient for their brokerage but wait for 1st Apr to confirm
xander2k8
post Mar 9 2023, 05:23 PM

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QUOTE(cse.my @ Mar 9 2023, 05:20 PM)
Yup, wait and see. Guess too much no point haha
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Hopefully the brokerage is low and with good live FX rates
xander2k8
post Apr 11 2023, 12:26 PM

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QUOTE(ivanpei @ Apr 11 2023, 11:12 AM)
No information about how the trading is conducted. Who holds the shares? What are the FX rates? The fees don't seem that cheap compared to Rakuten. Rakuten appears more transparent and cheaper to be honest. This M+ Global macam black box, feels dodgy.
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You registered already?

Anyway seems like Rakuten soon will be even cheaper
xander2k8
post May 22 2023, 06:45 PM

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QUOTE(trapezohedron13 @ Apr 24 2023, 12:09 PM)
hi anyone registered and deposited RM10k? any feedback on the FX, trading fee comparison?
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Expensive with trading fee is at Min USD3 while FX more than 3% spread

Summary half price than buying through old skool way 🤦‍♀️
xander2k8
post May 24 2023, 04:32 PM

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QUOTE(sai2 @ May 24 2023, 02:14 PM)
So their USD Ringgit convert charge like 3% or more, how about Rakuten ?
Half price .. old school way ? what u mean ?
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Rakuten cheaper by half of it

Old skool way means buying through local broker from M+

Anyway slow withdrawal as well 🤦‍♀️ compared to Rakuten same day withdrawal before 12pm

QUOTE(Davidtcf @ May 24 2023, 02:44 PM)
deposit RM1k got chance get free stock. Anyone lucky got Tesla stock or something good?
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The max you can get is Apple share worth rm760 🤦‍♀️ anyway promo already over
xander2k8
post May 24 2023, 06:10 PM

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QUOTE(sai2 @ May 24 2023, 05:33 PM)
So how they make money charge so low fees 0.08%(KLSE) and 0.1%(US,HK) and still need to pay broker ?
I heard someone said they get charge difference fee.
Can i just do without broker ? Any hidden fees ?

i'm ok with slow withdrawal, but worry about my money after their government style lousy email support.
Rakuten support is fast, but their login website pop-up many spamming message and cannot turn off, so annoying.
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I already told you where the hidden fee 🤦‍♀️ it is from the FX spread plus minimum charge of USD3 not 0.1% so no matter how you have to pay USD3 just in fees 🤦‍♀️

Rakuten use the app 🤦‍♀️ the website is horrible anyways and when you choose the broker most important fast withdrawal and cheaper fee
xander2k8
post May 27 2023, 01:55 PM

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QUOTE(mot88 @ May 27 2023, 09:55 AM)
Does any know is the application for M+ Global include local Bursa CDS account? Is yes, would it be using the same user ID/ password as per M+Global

FYI, comparison of FX spread across different SC approved app as at 26/2/2023, 11pm
M+Global : 4.673 (1 / 0.247)
MIDF: 4.6565
Rakuten: 4.6375
Google published spot rate: 4.60

For M+ Global, cannot convert into USD without any trade (i.e cannot lock in favourable USD rate for future trade).

On the list of trade-able stocks, they are abundant unlike Rakuten.
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Different account as M+ Global has dedicated app for foreign trading while M+ is for Bursa CDS

Don’t look at the spread too much 🤦‍♀️ look at the final price before you buy as they already lumped in USD3 fee into it hence they are double dipping and making through the FX spread
xander2k8
post May 28 2023, 03:14 AM

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QUOTE(mot88 @ May 27 2023, 06:41 PM)
When selling US stock, is the proceed credited back as USD or auto convert back to MYR?
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It will proceed as USD just like buying as well and then when you withdraw it will convert based upon their market rates on the withdrawal date
xander2k8
post Jun 2 2023, 11:50 AM

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QUOTE(sai2 @ Jun 1 2023, 04:50 PM)
I have the same problem, ask some very simple question by email, and they want all my personal detail before even answer a question, worst than talking to an AI robot.
Mplus fees is low, but their customer service is non existence, not dare to put my money inside.
Rakuten at least have some helpful FAQ and fast support, make me feel a little secure.

Mplus don't support Full list US stock, Rakuten only support 1000+ US stock.
What company support ALL US Stock, charge low fees and cheap usd forex exchange ?
How about Hong Leong ?
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Why bother 🤦‍♀️ when IBKR is more reliable
xander2k8
post Jun 4 2023, 07:16 PM

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QUOTE(trapezohedron13 @ Jun 3 2023, 09:06 PM)
thanks for all feedback. anyone deposited the 10k earlier and gotten the grab shares? got annoyed that they then did the 1k and random shares.
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Till today no news pretty nonsense 🤦‍♀️ as even if they the grab shares not sure how many units as well
xander2k8
post Jun 12 2023, 01:10 PM

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QUOTE(HellJoker @ Jun 12 2023, 11:30 AM)
IBKR reliable ka? sry am new to this
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More reliable than Malaysia brokers 🤦‍♀️ they are regulated in all major financial hubs in the world so what do you think
xander2k8
post Jun 14 2023, 02:40 PM

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QUOTE(HellJoker @ Jun 14 2023, 12:27 PM)
rakutan cash out direct to bank acc?
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Do you mean withdrawal? All withdrawal has to go to the same person individual bank account as per SC regulations
xander2k8
post Jun 21 2023, 08:07 PM

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QUOTE(TruboXL @ Jun 21 2023, 08:14 AM)
Zzz got jebaited

M+ Global is separate from M+ Online

Why can't Malacca Securities merge the two into one or just have M+ Global to cover Bursa as well?

Edit: I learnt this the hard way
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Because of taxation and regulation purposes 🤦‍♀️ and you learn the hard way from?
xander2k8
post Jun 26 2023, 01:23 PM

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QUOTE(TruboXL @ Jun 23 2023, 09:21 PM)
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?
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Because SC regulation 🤦‍♀️ requires you to have a Bursa CDS account before you can open M+ Global because seperate entities due to taxation
xander2k8
post Jul 8 2023, 03:38 PM

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QUOTE(TruboXL @ Jul 6 2023, 11:49 PM)
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.
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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
xander2k8
post Sep 15 2023, 04:22 PM

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QUOTE(kjlow88 @ Sep 11 2023, 08:49 PM)
Pensan,

Guys can tell me what is IBKR ? I'm currently buy stock in etoro
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QUOTE(kjlow88 @ Sep 11 2023, 08:49 PM)
IBKR is a short form ?
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Go do a Google search 🤦‍♀️ Interactive Brokers

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