Brokers Comparison
If you are looking for a new brokerage firm to begin investing in the stock market, or if you're looking for a new brokerage firm that's more suitable to your investment style, this is the right place.
We hope this guide will help you compare online brokers of Bursa Malaysia and find the broker that's right for you.
You can help us improve this guide by suggesting a broker or sending us a feedback at feedback@i3investor.com
| Broker | Overall Rating | Online Brokerage Fees | Trading Limit | Payment Method | Special Offers/Feature |
|---|
* Overall rating of each broker is derived based on competitive fees, product offerings, ease of payment/withdrawal, availability of information, and the features of the broker's online trading portal.
** The logo image of each broker remains the rights of the broker. The i3investor portal does not own the copyrights to the logo images.
*** Note: Some offers may be valid for a limited time only. The information and links on this page are provided for your convenience only. i3investor does not endorse or recommend the services of any brokerage company.
',"
","Cash Upfront (eInvest Go)
1. <10k: RM5
2. 10-100k: 0.08%
3. >100k: 0.05%
4. Minimum: RM5","1. Cash balance - transaction cost","1. Direct Bank-in via FPX fund transfer from various banks","1. Fully online direct CDS and trading account opening process
2. FREE Premium Stock Screener - Powered by MorningStar ®
3. Fast account approval process within 1 business day, subject to AHIBB's approval.",""],['
',"
","Cash Upfront - eDirect
1. 0.05%
2. Minimum: RM8
Collateralised
1. 0-100k: 0.40%
2. >100k: 0.20%
3. Minimum: RM28
4. Odd lots: RM12
5. Intraday: 0.15%","
1. 3 x cash and 2 x share capping (Collateralised account)","1. eDeposit/eSettlement through Ambank","1. Supports Good Till Date (GTD) order - order valid until a certain date specified by the client.",""],['
',"
","Cash Upfront
1. 0.10%
2. Minimum: RM12
Collateralised
1. 0-100k: 0.42%
2. >100k: 0.21%
3. Intraday: 0.15%
4. Minimum: RM12","1. 1 x cash deposit
1. 4 x cash collateral and 3 x shares collateral","1. Online payment: Public Bank, Hong Leong Bank, CIMB, Maybank, Bank Islam.","1. Supports Good Till Date (GTD) order - order valid until a certain date specified by the client (within 30 days period).",""],['
',"
","1. 0-100k: 0.3%
2. >100k: 0.2%
3. Intraday: 0.15%
4. Minimum: RM14","1. 1 x deposit","1. Online payment: Maybank, Bank Islam.","1. Supports Good Till Date (GTD) order - order valid until a certain date specified by the client.
2. First and the only full-fledged shariah compliant stockbroking in Malaysia",""],['
',"
","1. 0.42% (iTrade)
2. Minimum: RM28 (iTrade)
3. 0.0388% (CIMB Clicks)
4. Minimum: RM8.88 (CIMB Clicks)","1. 3 x cash collateral + 2 x share collateral
2. Minimum balance of RM10,000 required for CIMB Clicks account","1. Online payment: CIMB, Maybank, Public Bank, Hong Leong Bank, Bank Islam.","1. Sign up for Clicks Trader to enjoy brokerage fee of RM8.88 per trade (minimum deposit required).
2. Supports Good Till Date (GTD) order - order valid until a certain date specified by the client.",""],['
',"
","Cash Upfront (VALUeTRADE)
1. 0.10%
2. Intraday: 0.10%
3. Minimum: RM8
Collateralised (1TRADE)
1. 0-100k: 0.38%
2. >100k: 0.18%
3. Intraday: 0.10%
4. Minimum: RM8","Cash Upfront (VALUeTRADE):
1. cash balance - transaction costs
Collateralised (1TRADE):
1. 2 x cash collateral","1. Online payment: Maybank, Hong Leong Bank, CIMB.","1. Rate as low as 0.10% (call to inquire)
2. Free access to live Futures Prices on the HLeBroking Portal.",""],['
',"
","1. 0-100k: 0.42%
2. >100k: 0.21%
3. Minimum: RM28","1. 1 x cash collateral","1. No online payment. Fund transfer via Standard Chartered Bank , Maybank, HSBC, CIMB, Publick Bank.","",""],['
',"
","Cash
1. 0.1%
2. Minimum: RM8
Collateralised
1. 0.42%
2. Minimum: RM12
3. Intraday: 0.15%","1. Cash: 1x; Collateralised: 3x cash/shares","1. Maybank","1. Online foreign trading: SGX, NYSE, NASDAQ, HKSE. Support trading from iPad and iPhone.
2. Supports Good Till Date (GTD) order - order valid until a certain date specified by the client (within 30 days period).",""],['
',"
","1. 0-100k: 0.42%
2. >100k: 0.21%
3. Intraday: 0.15%
4. Minimum: RM12","1. 2 x cash collateral, 1 x share collateral","1. Direct Bank-in via cash or cheque with Maybank, Public Bank, CIMB, RHB & HSBC","1. Extended settlement period for up to 10 days with Mercury T+10
2. Identify more that 60 classic chart patterns and technical indicators with Mercury Signals",""],['
',"
","Cash Upfront (M+ Silver)
1. 0.08% < 50k
2. 0.05% > 50k
3. Intraday: 0.05%
4. Minimum: RM8
Collateralised (M+ Gold)
1. 0-50k: 0.30%
2. >50k: 0.20%
3. Intraday: 0.10%
4. Minimum: RM10
*0.05% or 0.08% applies to buy trades utilizing available deposited cash in trading account
Collateralised(M+ T7)
1. 0-50k: 0.30%
2. >50k: 0.25%
3. Intraday: 0.10%
4. Minimum: RM10
*0.05% or 0.08% applies to buy trades utilizing available deposited cash in trading account
","Cash Upfront:1. Cash balance - transaction costs
Collateralised:
1. Up to 2 x cash collateral + 1 x stocks collateral","1. CIMB, Maybank, Public Bank, UOB Bank","1. Attractive Margin Financing Package
2. Supports Good Till Date (GTD) order - order valid until a certain date specified by the client (within 30 days period).",""],['
',"
","1. 0.42%
2. Minimum: RM12","1. 1 x cash collateral","1. No online payment. Direct bank in via Maybank or Public Bank.","",""],['
',"
","Cash upfront:
1. <700: 1%
2. 700-10k: RM 9
3. 10k-100k: 0.10%
4. >100k: RM 100
5. Minimum: RM 1
Contra:
1. <700: 1%
2. 700-10k: RM 9
3. 10k-100k: 0.10%
4. >100k: RM 100
5. Minimum: RM 1
RakuMargin:
1. <700: 1%
2. 700-10k: RM 9
3. 10k-100k: 0.10%
4. >100k: RM 100
5. Minimum: RM 1
","Cash Upfront:
1. 1 x cash collateral
Contra:
1. up to 5 x cash for certain stocks
RakuMargin:
1. 2.25 x Cash
2. 1.25 x Pledged Share","1. Direct Bank-in via FPX fund transfer from various banks","1. Online Cash Upfront, Contra and RakuMargin accounts
2. Day trade rebate program (Contra)
3. Brokerage revision from RM 7 to RM 1
4. Trade and earn Rakuten Trade (RT) points (1 RT point for every RM 1 spent on brokerage fees)
",""],['
',"
","1. 0.42%
2. Minimum: RM12","1. 1 x cash collateral","1. No info available.","1. Supports Stop Loss, Conditional Limit, Good till Date and Good till Order with RHBInvest Program Trading.",""],['
',"
","1. 0-100k: 0.42%
2. >100k: 0.21%
3. Intraday: 0.15%
4. Minimum: RM28","1. 1 x cash collateral","1. RHB Bank, Bank Islam, CIMB Bank, Hong Leong Bank, Maybank and Public Bank
2. Cash/cheque deposit","1. Get free flights, hotels stays, electronic gadgets, appliances and more when you trade online
2. Conveniently trade from a variety of channels: website, desktop application, smartphones and tablets
3. Trade in stock markets across top 5 global exchanges using a single login",""],['
',"
","1. 0-100k: 0.42%
2. >100k: 0.35%
3. Intraday: 0.15%
4. Minimum: RM12
5. Cash upfront: negotiable","1. 2 x cash collateral, 1 x shares collateral","1. Online and direct bank-in: Maybank & CIMB","1. Supports Good Till Date (GTD) order - order valid until a certain date specified by the client.
2. Interest free margin account for purchase contracts up to T+10 (SJenie SMarT)
3. Mobile trading available via iMSL@SJenie app for Android (Google Play) & Apple (App Store)",""],['
',"
","Cash Collateral
1. 0.12%
2. RM10
T+2 Contra
1. 0.18% (>100k)
2. 0.35% (<100k)
3. RM12
Foreign
1. 0.18% (>100k)
2. 0.35% (<100k)
Margin
1. 0.18% (>100k)
2. 0.35% (<100k)
3. RM12
","Cash Collateral
1x cash 1x shares
T+2 Contra
3x cash 2x shares
Margin
2.5x cash 1.5x shares
","1. Online payment via Maybank2u.com","
1. Flexible margin to expand your portfolio at low cost
2. Online foreign trading: SGX, NYSE, NASDAQ, HKSE.
",""],['
',"
","Collateralised:
1. 0-100k: 0.3%
2. >100k: 0.2%
3. Intraday: 0.1%
4. Minimum: RM8
Cash upfront:
1. 0.1%
2. Minimum: RM8","1. 3x Cash Collateral, up to 2x Shares Collateral","1. Cash or Cheque at branch.
2. EPS via the ATM or Internet banking","Trading tools for technical analysis - TechAnalyzer & ChartGenie",""]]; $(document).ready(function() { var dttable = $("#bc-dttable").DataTable({ "data": dtdata, "paging": false, "lengthChange": false, "responsive": { details: { type: 'column', target: -1 } }, "fnRowCallback": function(nRow) { return nRow; }, "columnDefs": [ { "targets": -1, "className": "control", "orderable": false }, { "targets": 1, "orderable": false } ] }); });
Discussions
44 people like this. Showing 50 of 935 comments
@moneytree88 u can download (Bursa anywhere apps) to active back your account,,just RM5 fee to reactivation of a dormant CDS account..Or u can open another account if u want.. 1 broker for 1 account..u can open more than 1 account..up to you..
@DzulY74..Rakuten can buy and sell all stock at Bursa either shariah stocks or non-shariah stock. Rakuten is a Nominee account, cannot buy IPO..it's Better for newbie to start invest at Bursa if they have Rm1000 below. some broker charge higher coz they have different features. some of them have features-Stop limit/Cut loss/screener/live chart/indicator/Alert/transaction History..some broker dont have.
2021-03-16 02:25
hi, I am new to Trading. what is required to be done for Paperwork on corporate actions (eg. Rights issue, takeover offer)?
What is the difference if managed directly vs Managed by Broker?
2021-03-30 12:18
Journey to Financial Independence
I started my investment journey with a nominee account (Rakuten Trade). But later this year I decided to switch into a direct account (Malacca Securities) after I found out their differences...
2021-04-03 13:39
I tried the calculate function on MPLUS to simulate the amount of brokerage I have to pay. But the minimum is RM40 Brokerage fees charged, but isn't the advertised fee RM8?
2021-04-06 23:27
Journey to Financial Independence
@benjikoh, my account is M+ silver account (cash upfront), charged a minimum of RM9.70 per contract including stamp duty and clearing fees. You can ask your remisier/ dealer representative what type of account are you using to buy/sell. If your remisier does not reply to your message, it's time to change from M+ platform to others.
M+ registration link: https://registration.mplusonline.com/?ref-id=R345
Broker's comparison: https://klse.i3investor.com/jsp/hti/brokers.jsp
2021-04-07 14:05
Newbie here, I hear that if using Rakuten, all shared purchased will park under Rakuten account not park under our individual account, is this statement correct? If park under Rakuten, we wont be recognize when AGM it's?
2021-04-16 17:55
Like MrBorneo26, I have accounts with both Rakuten and MPlus. My recommendation is to open account with more than one broker to compare stock recommendation and monitor stock performance if you can. As for the reason why Rakuten operate using nominee account type is because in addition to cash account which require cash to be deposited first before you can trade they also provide contra and margin accounts which require your stocks to be collateralized. The advantage of contra account over cash account is that you can trade and settle later (T+2) hence very useful for short term trading. As for the reason why I like Mplus other than cheap brokerage is because they provide very good market and stock updates and conduct free seminars for their clients very regularly.
2021-06-05 15:19
Hi i'm new to trade. anyone can share that is there any cost to maintain for these trading account? or any other hidden cost?
2021-06-12 15:01
Hello All. I am Newbie here. Just wish to know do I just need a new trading CFD account only to start trade or I can just sign up with one of the broker & this will come with the CFD account? Thanks
2021-06-22 17:11
hi, for long term investment purpose, fund size > 1mil, do u guys think it's good idea to buy with Rakuten platform first due to cheapest charges, then later pay RM10 transfer the stock to other bank platform like RHB, Maybank, UOB KAylian for faster Dividends and safer security?
2021-07-11 14:42
@Noni May I know what is the hidden restrictions you have encountered before?
2021-07-29 20:51
Hi, Maybank is charging me a minimum of RM28 per transaction for both sale and purchase...
Is that normal, or please advise if I am paying high?
2021-08-22 19:22
your broker could be maybank or Maybank Investment Bank.
please check.
open your mouth to complain and you will get cheaper
Posted by Meena12 > Aug 22, 2021 7:22 PM | Report Abuse
Hi, Maybank is charging me a minimum of RM28 per transaction for both sale and purchase...
Is that normal, or please advise if I am paying high?
2021-08-22 19:29
@i3lurker Hi Thanks a lot... Yes after requesting they have reduced it to RM12 now...
It is sad that even the broker didn`t advise about it, she insisted the minimum was RM28 last month.
2021-08-23 14:49
Ahh that easy for rakuten, lets say you want to buy hartalega, just go to bursamalaysia or if got other trading acc with cgscimb or kentrade you can check there, syariah complince or not :)
2021-08-27 13:59
Hi , may i know why Affin Hwang Capital is RM 30.90 ? isn't it Min RM 5 as stated above page ?
MrBorneo26 Compare Brokers in Malaysia (Cash Upfront account)
Example: BUY stock
Purchase Price = RM 0.075
Share Quantity : 10,000 units
Total = Rm750 + Brokerage Fee(include stamp duty/clearing fee/service tax)=
Total Brokerage Fee (include stamp duty/clearing fee/service tax)
Rakuten Trade = Rm 8.64
Mplus = Rm9.70
AmEquities = Rm9.70
Maybank = Rm9.70
Hong Leong Bank = Rm9.70
UOB Kayhian= Rm9.70
Cimb clik Trader = RM10.63
Mecury Securities = RM13.94
Public Bank = Rm13.94
RHB invest = Rm13.94
SJ Securities = RM13.94
BIMB Securities = RM16.06
Affin Hwang Capital = RM30.90
RHB Trade Smart RM30.90
CGS-CIMB = RM30.90
Kenanga = RM30.90
JF Apex = RM30.90
Open Account with Rakuten and Get account around 2 Hours =
https://www.rakutentrade.my/device/accountopening?referralcode=14f18TG...
use this Rakuten Refferal : 14f18TGBPS
*you earn 500 Rtpoints free = For redeem Airasia flight/BonusLink/E-wallet BOOST coins (new promo 2021)
28/02/2021 9:05 PM
2021-09-14 23:09
Do we have a similar comparison for a corporate trading account? There are lots of info on individual trading accounts, the cost comparison, pros and cons, etc., but literally none (afaik) on corporate accounts.
2021-10-31 06:28
For those who trade on average more than RM5m to RM30m a year, which platform is reliable and cheapest in terms of brokerage fee?
2021-11-05 09:32
Anyone is using Ambank's Amequities? It seems to be good rate trading above 10k
2021-11-14 20:24
There is a catch on CIMB Clicks 0.0388% brokerage rate with minimum $8.80.
Minimum $8.88 is per matched Order.
Say you have 3 matched order, each trade value 10,000.
Total brokerage is 8.88 * 3 = $26.64. Not 30,000 * 0.0388% = $11.64
2021-12-12 11:19
Malaysia increase stamp duty from 0.1% to 0.15% from 2022.
Many countries don't impose stamp duty for stock trading, including Singapore, US.
While China impose 0.1% on the selling side only.
Also, Malaysia stamp duty still apply when you invest in foreign market through Malaysia broker.
2021-12-12 11:29
Why online trading, remisier still get paid from broker, not really understand because i invest my money and did not rely on my remisier, they still get paid, what an easy job lol.
2022-01-02 21:44
No more SST in 2022.
Actually 0.15% stamp duty do not apply to all stock type
0.10% still apply to Warrant, REIT, Trust, Close-ended Fund.
While ETF, no stamp duty until 2025.
2022-01-08 17:47
If i hv an Affin Hwang investment bank collateral online account, can i change it to cash trading account online without going thru the bank officer?
2022-02-05 15:05
UobKAYHIAN and M+, which brokerage is better, in term of remisier support?
2022-03-06 09:59
anyone using kenanga?
im using UOB KAY HIAN
quite CHEAP for collateral account, only 0.3%, 0.2%, 0.1% or min RM 8
but would like to explore Kenanga too..
Does anyone know the rate?
2022-09-30 16:50
HLeBroking Cash Upfront (VALUeTRADE) brokerage rate latest update is only 0.08% min RM8...
Kindly whatsapp me 012-7798997 to know more.
2023-04-05 12:30
Rakuten Contra Account no longer can buy Structured Warrant from 02 Oct 2023. 0 multiplier no matter how long, even with Jul 2024 expiry.
2 months ago
Hi I started my investment journey with AmEquities LYH. Their support team members are responsive and friendly in guiding me to open the trading account.
1 month ago
They provide many benefits too. It is free to open a trading account with them and I can use the MQ Trader Stock Analysis System for free too! That system is quite nice to use and did make my investment journey easier!
1 month ago
As a newbie, if you are interested in their service, you click submit your request to them through this link:
https://sams.i3investor.com/sams/i3/page/am2/personal/ea9770a9497e
Their representative will approach you very soon.
1 month ago
Thanks @KiloGrand
I have submitted the request and they have contacted me within minutes.
They answered my questions with patience and I have decided to proceed with the account opening with them!
Btw how to get the free MQ Trader System?
1 month ago
Hi @chinvest, M+ contra account still can buy warrant. Here is my remisier contact number you may check with further details +60 10-222 8313
1 month ago
@caterpie
Once your account is successfully opened with them then you can upgrade to MQ Trader Pro Package by linking your trading acc with your MQ ID.
For the time being, you can visit MQ Trader to explore the system first
https://klse.i3investor.com/mqtrader/app/index
1 month ago
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People who like this
As an expert in the field of online brokerage and stock market investment, I bring extensive knowledge and experience to guide you through the intricate process of choosing the right brokerage firm for your investment needs. My expertise is based on years of hands-on experience in the financial industry, closely monitoring market trends, and staying abreast of the latest developments.
Now, let's delve into the concepts mentioned in the article and provide detailed information:
Overall Rating:
- The overall rating of each broker is derived from various factors, including competitive fees, product offerings, ease of payment/withdrawal, availability of information, and features of the broker's online trading portal.
Online Brokerage Fees:
- This refers to the fees charged by the brokerage for executing trades. Different brokers have different fee structures, including cash upfront fees and collateralized fees. These fees may vary based on the type of account (cash upfront or collateralized) and the trading limit.
Trading Limit:
- The trading limit specifies the maximum amount or value up to which a trader can execute trades. It varies across brokers and may be different for cash upfront and collateralized accounts.
Payment Method:
- Payment methods indicate the options available for depositing funds into the trading account. Brokers typically support various payment methods such as online payment, direct bank-in, and fund transfer from different banks.
Special Offers/Features:
- Brokers may provide special offers or features to attract clients. These could include discounted brokerage fees, premium stock screeners, fast account approval processes, and support for specific order types like Good Till Date (GTD) orders.
Specific Broker Information:
Affin Hwang:
- Offers a Cash Upfront (eInvest Go) account with tiered fees based on the trading amount.
- Minimum deposit required for account opening.
- Supports online payment via direct bank-in and offers a free Premium Stock Screener powered by MorningStar.
AmEquities:
- Provides both Cash Upfront and Collateralized accounts with tiered fees.
- Supports eDeposit/eSettlement through Ambank.
- Features support for Good Till Date (GTD) orders.
JF Apex:
- Offers Cash Upfront and Collateralized accounts with tiered fees.
- Online payment supported through various banks.
- Supports GTD orders within a 30-day period.
BIMB Securities:
- Tiered fees for trading with a minimum deposit requirement.
- Online payment available through Maybank and Bank Islam.
- Offers GTD orders and is the first Shariah-compliant stockbroking firm in Malaysia.
CIMB:
- Different fee structures for iTrade and CIMB Clicks.
- Minimum balance requirement for CIMB Clicks account.
- Online payment options include CIMB, Maybank, and other major banks.
- Provides promotional offers like discounted brokerage fees.
Hong Leong Bank:
- Cash Upfront (VALUeTRADE) and Collateralized (1TRADE) accounts.
- Online payment through Maybank, Hong Leong Bank, CIMB.
- Offers a low-rate promotion and free access to live Futures Prices.
Kenanga:
- Cash Upfront account with tiered fees.
- No online payment; fund transfer via Standard Chartered Bank, Maybank, HSBC, CIMB, Public Bank.
Maybank:
- Offers both Cash and Collateralized accounts with tiered fees.
- Online foreign trading and support for GTD orders.
- Provides trading support on iPad and iPhone.
Mercury Securities:
- Tiered fees for both Cash and Collateralized accounts.
- Direct bank-in via Maybank, Public Bank, CIMB, RHB & HSBC.
- Extended settlement period and technical analysis tools offered.
M+ Online:
- Cash Upfront (M+ Silver) and Collateralized (M+ Gold) accounts.
- Supports online payment through CIMB, Maybank, Public Bank, UOB Bank.
- Attractive Margin Financing Package and supports GTD orders.
Public Bank:
- Tiered fees for trading with a minimum requirement.
- No online payment; direct bank-in via Maybank or Public Bank.
Rakuten Trade:
- Different fees for Cash Upfront, Contra, and RakuMargin accounts.
- Online payment through FPX fund transfer.
- Offers online accounts, day trade rebate program, and loyalty points.
RHB:
- Tiered fees for trading with a minimum requirement.
- Supports Stop Loss, Conditional Limit, Good till Date orders.
- No specific information available regarding online payment.
RHB TradeSmart:
- Tiered fees for trading with a minimum requirement.
- Supports online payment and cash/cheque deposit.
- Offers various rewards for online trading.
SJ Securities:
- Tiered fees for trading with a minimum requirement.
- Online and direct bank-in support via Maybank & CIMB.
- Supports GTD orders and interest-free margin account.
TA:
- Different fees for Cash Collateral, T+2 Contra, Foreign, and Margin accounts.
- Flexible margin and online payment via Maybank2u.com.
- Online foreign trading on various exchanges.
UOB KayHian:
- Collateralized and Cash Upfront accounts with tiered fees.
- Supports cash or cheque deposit and EPS via ATM or Internet banking.
- Provides trading tools for technical analysis.
These details provide a comprehensive overview of the key features, fees, and offerings of various brokerage firms in Malaysia. When choosing a broker, it's crucial to consider your specific needs, trading preferences, and the features offered by each platform. Always verify the latest information and promotions directly from the broker's official website before making any decisions.
