Usually, brokers for Bursa Malaysia will charge fees based on the investments you are engaging whether be it in stocks, mutual funds or bonds. Furthermore, some will offer different trading to earn a commission which is by forex or futures trading.
As a consumer, you need to know how you are charged and what are the fees to prevent yourself from getting misinformation.
Online trading usually have lower fees but you don’t have the privilege of an expert view to help you make better investment decisions.
Recommend Broker in Bursa Malaysia:
- CGS-CIMB: 0.0388%, minimum: RM8.88
- UOB: Collateralised: 0-100k: 0.3%, >100k: 0.2%, Intraday: 0.1%, minimum: RM8 Cash upfront: 0.1%, minimum: RM8
- RHB: 0-100k: 0.42%, >100k: 0.21%, Intraday: 0.15%, minimum: RM28
- Maybank: Collateralised: 0.42%, minimum: RM12, Cash upfront: 0.1%, minimum: RM8
- Rakuten: 0-1k: RM 7, 1-10k: RM 8, 10-100k: 0.10%, >100k: RM 100
2. Account minimum
Depending on the brokerage, you may have an account minimum. This means that you need to set aside a certain amount of money in your trading account to start investing. However, in Bursa Malaysia, the minimum amount of shares you need to buy is 1 board lot which is 100 shares.
So let’s say a certain company has a share price is of RM0.50 per share. To buy a lot of these shares which is 100 shares, you will need RM 50 to buy 1 lot. This is the minimum amount of shares you can buy. You need to understand that share price will differ between companies as their share prices fluctuate, therefore, the price of 1 lot will differ as well.
Account opening fee: RM10 for opening of CDS account.
3. Special offers/features
Brokers for Bursa Malaysia will offer great incentives and offer to entice customers to start their trading journey. Usually, a small brokerage will have a hard time giving out offer and incentives to their customer due to their size. But having a good offer for you as the customer will help you out during your early stages of trading.
Features are also an important aspect as some brokerage are more pronounced than others. Financing scheme, earning points or rebate programs are some features a brokerage can offer you.
- CGS-CIMB: BIG Rewards Campaign 3.0.
- UOB Kay Hian: UTRADE Reward.
- RHB: Why settle for T+2 when you can enjoy T+7?
- Rakuten: RT x AirAsia BIG 688 Campaign (Contra Traders Only, Raku-Laz 2019 Campaign)
4. Trading platforms
A Bursa trading platform is a software which is used to place your trade as well as monitor accounts. Often times there are plenty of trading platforms out there which helps you monitor the financial markets and it’s performance and it can be confusing to beginners.
This is why some brokerage offers a trading platform for their customers to ease their monitoring and also teach them the basics. As an investor, you should know some platforms are only available when working with a certain broker.
So, you should also take into consideration choosing a platform whether it is with CGS-CIMB, UOB Kay Hian, Rakuten or RHB Securities, with a good reputation as well as suited to your investment style.
5. Customer Service
Customer service is also an important part of being the best broker in Malaysia or KLSE. Handling customers inquiries and their concerns are the heart of all business including a brokerage.
In the area of investments, there will be bound to have a lot of inquiries and concerns as people who are investing their money will ask a ton of questions in and out of the realm of investment.
Quick and apt response from the brokerage will prove that how they handle their client’s concerns will make them the best brokerage in town.
6. Trust and Secure
Trust and security is the most important part to identify a good brokerage. You are going to put your money into a brokerage and invest your money to ensure your money is secure and have good returns.
So, it is very important that you trust your broker and that your broker whether it is with CGS-CIMB, UOB Kay Hian, Rakuten or RHB Securities has commitment and integrity to help you achieve your investment choice. How can you identify a trustworthy broker? Look for traits such as these:
- Has proofs and testimonials
- Action driven
Don’t be shy to ask for their clients experience dealing when choosing for the Best Brokers in Bursa Malaysia!
CGS-CIMB : Click here for https://www.itradecimb.com.my/
UOB Kay Hian : Click here for https://www.utrade.com.my/
MayBank KE : Click here for https://www.powerbroking2u.com.my/webcms/
Rakuten Trade : Click here for https://www.rakutentrade.my/
RHB Invest : Click here for https://www.rhbinvest.com/
Updated : Aug 2019
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