Just realized that CIMB iTrade is now completely under a Chinese company.

Is that a good or bad thing overall?

- Privacy: our data safe?
- If the company goes missing one day, what happens? With CIMB, it's at least a local bank and easier to be held accountable.

If it's time to move out from CGS, what's the usual method to transfer to another brokerage?

Is it regulated and have a license to operate by the Malaysia govt agencies?

No good no bad. I suppose it is CIMB selling part of their business.

As a consumer, you are protected by regulators. It is still a brokerage incorporated in Malaysia. If the brokerage bankrupted, you still will have your shares if you are direct CDS. You do have that statement from bursa right? So bursa knows what shares you hold.

If because of CGS, your brokerage fees are cheaper, I would call it good news. If prices went up, well bad news.

As for data leakages, last I check some financial institutions also kena. Those big ones. You have to trust that our regulators are doing their job to ensure the FI are on their toes.

Please don't just have data privacy concern just because it is a Chinese company. Yes we should be vigilant about data privacy. Just be vigilant about the right thing.

Thanks, that's a bit more re-assuring.

I just got a bit suspicious when their emails kept saying things like:



- It sounded a bit defensive (like they are being accused of something)
- The grammar and choice of words feels a bit off, like a scam email

I dont share the concerns. CGS is still a regulated broker in Malaysia and will have Malaysian banks and Bursa as custodian for its assets.

In China, its the 2nd biggest brokerage and the parent company is listed in HK and Shanghai and is an index stock.

This post has been edited by Cubalagi: Mar 10 2024, 10:18 PM

Hi, is the feature like Deposit 10k in account and entitled RM8.88 brokerage fee still valid?

Now cgs securities can e-withdraw

But now e-deposit stilll need to wait

Not immediately show on system