QUOTE(okk @ Mar 29 2008, 02:32 PM)
Hi,
I am using HLeBroking account all the while and I notice that they offer 0.10% brokerage for intraday trading.
I have a few questions and hope the brothers here can help me.
1. Do I need to explicitly tell them that I need the intraday facility? Or is just just when I buy and sell in the same day, then my brokerage fees will 0.10%?
2. Based on question 1, whenever I buy a stock, I notice that my account is debited with the amount of stock I buy and with the 0.42% brokerage fees. So if I am going to sell in the same day (if this will activate intraday trading), does that mean that some portion of my initial brokerage fees of 0.42% will be credited back to me so that the brokerage fees is lessen to 0.10%?
3. For intraday trading, does the minimum brokerage fees of RM12 still hold?
4. Does the system actually allow buy and sell on the same day? Any problem with this based on the T+3 rule?
Based on my intraday experience using RHBInvest:
1)They will create new intraday account for intraday trading purposes. That intraday account is just extension from your existing account. For eg: Your normal trading account is A1. Your intraday trading account will be A1-D. Whenever you want to trade intraday, you need to use this intraday account.
2)Nvr encounter this before. Anyway if you can't managed to sell stock that you bought that day, your broker will call you and transfer the stock to your normal account and charge normal brokerage fees.
3)Not sure. IMHO, i think it should.
4)No T+3 rule applied for intraday trading only if you managed to buy & sell at same day. Else will treat it as normal trading.
Drawback:
Your remisier will always call you whenever reaching last hour of trading to ask you sell this stock(quite troublesome if you working). But it can avoided if your broker trust you.
This post has been edited by dreams_achiever: Mar 29 2008, 04:03 PM