CIMBClicks (aka CLicktrader) is a special product where the brokerages is flat rate, RM8.88. No matter how big the volume you trade. i.e. your trade amount RM1k or RM1 mil.
However, they don't have the price averaging.
For example, you key in buy 100 units of stock X, then you key in another 300 units of stock X.
If you have price averaging it will combine two order, you will have one purchase contract 400 units of stock X. (your brokerage, stamping, and clearing fees on charge one time)

For CIMBClicks, you will have two diferent contract. therefore, you have two seperate brokerages charges, therefore, you are charging RM8.88 for your respective contract i.e. 100 units contract and 300 units contract. (including your stamping and clearing)

note: purchase contract number without price averaging will start with P0123456
with price averaging will start with PA12345
sales contract will be start with "S"

besides, clicktrader you have to have at least RM10k in your trust to have limit.
for example, you have RM10k and you bought RM3k today. tomorrow you will have no limit even you have balance RM7k. any amount less than RM10 will have no limit. the more trust you have the more limit you have (subject to the maximum trading limit you have, ie you have trust of RM200k but your maximum trading limit is RM100k. you only have RM100k.

you sales amount will not issue you cheque but will put back in your trust. so you need to withdraw from the trust.

Hope the above answer your question

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Added on December 18, 2008, 4:58 pmdealer role is the same as remisier.
remisier. run their business on their own. they find their own client.
dealer usually is under the broking house. company client will park under them.

Remisier income will be from the brokerage(commission) which is sharing basis with the broker house. e.g. 60-40. dealer income can be commission or salary.



nearly forgot. usually if your account under dealer, you need to bank in trust only have limit. because dealer unlike remisier where trading limit based on remisier deposit and your losses will "eat up" remisier trading limit




This post has been edited by trainee06: Dec 18 2008, 05:08 PM

Thank you, trainee06 for the wonderful explaination. You work at CIMB? Kidding ...

By the way, for:

I'm assuming you're referring to CIMB itrade not CIMBClicks.

A little further clarification needed. Do you mean the averaging will be done if you placed two seperate BUY instructions on the same day or what? How does the averaging be applied?

By the way, does i-trade down in the afternoon session? I got error message of maintenance.

Thank you.

yeah the order must be the same day, it will average the all the price and all order you trade in the same day for the same counter to one single contract. e.g.
1,000 unit of X at RM1.00
2,000 unit of X at RM0.99
1,500 unit of X of RM1.01

at the end of the day you will have one single contract of 4,500 unit of X at the "average price". since one contract you only need to pay brokerage, stamping, clearing for once.

without averaging will be 3 different contract, therefore, your brokerage, stamping, clearing will be charges respectively.
e.g. your minimum brokerage is RM40 then you have to pay for RM120.

correct me if i am wrong hahaha a lot of sifu in LYN.

i dunno whether i-trade down or not. Recently cimb having landslide. if not mistaken they cannot work in the building, so i guess they evacuvated to the disaster recovery centre. Might be some maintenance of their server or connection having problem.

Anyone can enter ITrade right now? There's a hang JAVA applet at 3.40 A.M.

Now no problem. Can view everything after clicke on "[ Click here if you are unable to see the Stock prices after installing JAVA ]".

i m thinking of using clicks trader now.

Yaya, cheapest in town..

How to open a Clicks trader account? I have a CIMB i-trade and CIMBClicks with me.

Just fill up the form from any cimb bank branches loh..
Where r u staying? I can talk to the branch manager if u need any help.
I m from CIMB INVESTMENT BANK.

This post has been edited by yapbswan: Jan 8 2009, 11:29 PM

So who can tell me which one i should use?? click traders or itrade???
I want to pay as I go, don't need margin accounts.

Is there still a deposit of 10krm needed???

RM 10k deposit is only required if you want to have time limited promotion from Clicks trader for 0% brokerage fee.

Really??
Then why is CIMB telling me that I would need? so weird.

For i-trade account, you only need RM 1k min in your trust account for first time trading.

When I fill in the form which account type do I choose?? Direct account, or margin account, or securitised one???

nope...it is 10k min....maintaining 10k only able to get zero brokerage fee

The RM 10k min is for Clicks Trader account not i-trade account. It's maintaining RM 10kbalance in the trust with no interest bearing to enjoy 0% brokerage fee .

My mistake...thought that both is the same...
anyway this is quoted from http://www.itradecimb.com/web/faqAccOpen.asp

For i-trade, I don't think you need to maintain RM 1k balance in the trust account. Somemore, it is interest bearing too.

so there are two type : click trade & itrade?

If i want to open one using my own CDS account, i dont want nominee, which one should i get....?
my company shifting its payroll to cimb, might as well get one as its convinient money transfre..

That would be Direct Trading account if I'm not mistaken.

Well, to trade with Clicks trade, you need an account from CIMB Investment too.