We must go through a broker (securities) to buy and sell stocks in KLSE Bursa Malaysia, only a licensed broker (securities) can deal directly with the stock market.
There are a lot of securities in Malaysia, but which one offer the cheapest brokerage?
Currently there are two securities that offer 0.035% or minimum RM 6. Both are an upfront account which mean you must have money only can buy. There are:
(A) Malacca Securities
- Using Platform from ActiveX (Excel Force)
- Absorb RM 10 CDS opening account fees
- Absorb RM 10 CDS transferring per counter for unlimited counter
If you have 10 stocks in MayXXX Securities, you can transfer all the counter to Malacca Securities. They will rebate RM 100 for you after you show them the receipt.
For nominees account, the transferring fee is RM 20, but Malacca Securitie only absorb RM 10.
- Limited branches of account opening, they are 4 branches in whole Malaysia.
- Limited period – Promotion end of October, after that the brokerage will be 0.08%.
(B) Ambank Securities
Websites: amesecurities.com.my – edirect account
- Strong support from Ambank
- No deadline for the 0.035% rate
- Flexible – can change from cash up front to collateral without opening two accounts
- Using Java (N2N Connect) platform which are not so user friendly
- Didn’t absorb the RM 10 CDS opening fee
- Didn’t absorb the RM 10 transferring per counter
- Limited branches
I choose Malacca Securities because of the counter transferring fee rebate from them and ease of use of the Excel force platform. I have used Malacca Securities for 1 month and I am happy with their platform as well as services provided.
Ck5354 writes about KLSE, Financial Planning and Investment, enjoys comparison to get the best product. And, he is going to be a father soon for the 2nd time. His blog welcome you, together we make money from share market.