Malaysia Stock Brokers Comparison

Malaysia Stock Brokers

Malaysia Stock Brokers

As requested by many of you, Malaysia’s top stock brokers for your choosing. They’ve all been ranked accordingly, with Hong Leong Bank being one of my favourite brokers.

I’ve omitted many other brokers because I don’t think the public should even consider them. Not for the average investors anyway. I’m keeping the table super simple as I understand that most of us are only concerned with the fees charged.

BrokerageFee StructureTrading LimitSettlement / Payment Method
Hong Leong Bank0.106%
Minimum RM8.48
Value Trade: Cash Upfront
Hong Leong, Maybank2U
Rakuten Trade0.106%
Minimum RM7, RM8 & 0.1% depending on trade value. Max RM100.
Cash UpfrontAll banks
M+ Online0.05%
Minimum RM8.48
M+ Silver: Cash UpfrontCIMB, Maybank, Public Bank, Hong Leong, UOB, RHB
Maybank0.1%
Minimum RM8.48
Cash AccountMaybank
AM Securities0.05%
Minimum RM8.48
e-Direct - Cash UpfronteDeposit / eSettlement through Ambank
Jupiter Securities0.1%
Minimum RM10
Cash UpfrontFund transfer via Maybank, HSBC, CIMB, RHB, Public Bank.
CIMB iTrade0.106%
Minimum: RM8
Cash UpfrontCIMB, Maybank, Public Bank, Hong Leong
Kenanga Wealth0.49%
Minimum: RM12
Cash UpfrontFund transfer

Table updated as at 1 June 2017

Some of the fees may change from time to time, so for those of you who managed to get the latest figures, please drop me a message or comment and I’ll update it accordingly. Also, if your current broker isn’t on the list and you think they should be, give me them figures! You’ll be credited. I want to keep this table up to date so as to help everyone pick the correct brokers to invest with.

I want to keep this table up to date so as to help everyone pick the correct brokers to invest with. Remember, when choosing your broker, don’t just pick the ones with the lowest brokerage fees. Go for the ones that match your needs.

Opening Your Brokerage Account

After making your choice, familiarize yourself with the fee structure of your broker. Determine what is the optimal amount to invest every time and see if you can achieve that every transaction. Do not be daunted by the account opening process. Just visit your broker’s office and you’ll be surprised how easy it is. The usual account opening fee is RM10.

The usual required documents are:

  • NRIC
  • Bank statements (be sure to show all your accounts and personal details)

Minor update: Rakuten Trade now allows you to open your account online. Hassle-free.  

Hong Leong Bank

I’m currently using Hong Leong Bank and based on my experiences, the services offered are top notch. Yes even with their slightly higher fee, I’ve had zero problems with trading and customer service has been excellent. They also grant users complimentary access to charts and research. The main one I use for my research is Equities Tracker.

Although, recently there has been complaints from readers stating that HLe is taking a very long time with their account opening process. So take note!

End.

Now you’ve got your brokerage account set up and you’re ready to invest, it’s time to determine the companies you’d like to invest in. You’ve got to know the company and industry like the back of your hand before you invest. If you’re a total newbie when it comes to investing, here’s a Guide to Stock Investment.

Have a look at my philosophy of Dividend Income Investing as well as The Complete Guide to REITs in Malaysia to get you started.

Leave Your Comments!

Lastly, if you’ve got anything to say about any Malaysia Stock Brokers, drop a comment so everyone will know. If you’re planning to change from one broker to another, tell us why! Tell everyone. Let’s keep it civil.