Dividend Magic

Saving and Investing towards Financial Independence in Malaysia

Investment

Webull Malaysia Full Review and Guide +RM500 in Rewards

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Filed Under: Free Stuff, Investment 0

If you’re looking for a flexible, feature-rich investing app in Malaysia, Webull is starting to look very compelling – especially right now, with a promotion that gives new users RM500 worth of NVIDIA (NVDA) shares for depositing RM 5,000 and holding it for 30 days.

Rewards you’ll get when signing up with my referral link

Use my link and code to register, deposit RM5,000 to get free RM500 worth of NVDIA shares. At the same time, make use of their 6% promo to get the most of your RM5,000 idle cash.

Referral link: https://www.webull.com.my/k/Magic
Code: Magic

  • Deposit RM5,000 into Webull.
  • Maintain the RM5,000 balance for 30 days.
  • Receive RM500 worth of NVIDIA shares.*
  • Enjoy 6% p.a. for 90 days on your Moneybull balance (up to RM200,000).

*new users only, campaign ends 31 December 2025.

In this article, I’ll walk you through how Webull works, why this promo is attractive, how their cash-management product “Moneybull” works, and the risks to be aware of.

What and who is Webull Malaysia?

Webull Malaysia is a local arm of the global Webull platform. It’s regulated by the Securities Commission Malaysia (SC), which gives it legitimacy and a layer of investor protection.

Some key features:

  • Access to US stocks (fractional shares) + Malaysian listed shares.
  • 24-hour trading for select US stocks and advanced charting tools.
  • No “platform fee” for now, and zero commission for Bursa Malaysia trades (at least for a limited time).
  • Option between Islamic and conventional bank account types. Once selected, the account type cannot be changed.

How to deposit money into Webull Malaysia

No FPX deposit (for now), you’ll have to deposit using DuitNow.

Follow the steps below to retrieve Webull’s Malaysia Account Information and Reference Number:

  1. Tap the Webull logo at the bottom of the screen
  2. Select “Securities”
  3. Tap “Transfers” at the top of the screen
  4. Tap “Deposit”
  5. You may copy the Webull’s Malaysia Account Information and Reference Number details into your online banking.

Just make sure you’re depositing under the same account holder’s name and to add in the correct reference. I got my money within seconds of doing the transfer.

The bank account details such as Account Number and Reference in your Webull Malaysia App are specific to your account for deposit purposes. It is important that the depositor’s name match your Webull account details.

Full steps and details via Webull Malaysia here.

Moneybull: Earn up to 6% p.a. on idle cash

One of the most interesting features Webull Malaysia has right now is Moneybull, a cash-management solution. Here’s what you should know:

  • Moneybull is powered by AHAM Capital, a fund manager, and it invests your idle cash into a Shariah-compliant money market fund – AHAM Aiiman Enhanced i-Profit Fund (Class B Accumulation)
  • Under normal conditions, this money market fund returns up to 3.4% p.a.
  • As part of the current promo – Webull is offering 6.0% p.a. for 90 days on Moneybull balances (up to RM 200,000) for eligible users.

To show you that I actually put my own money in, another RM50K to go to make it RM200,000:

How to deposit and move money into Moneybull

Auto Sweep automatically sweeps uninvested cash to Moneybull, ensuring funds remain instantly available as buying power for MY stock trading.

Tip: Set your Reserve Amount to RM0 so all your money will be moved to Moneybull to earn that 6% interest.

How to register for a Webull Malaysia account

  • Download the Webull Malaysia app.
  • Enter your mobile number and verify it with an SMS code.
  • Complete eKYC:
    • Take a photo of your IC (front and back).
    • Take a selfie for facial verification.
    • Upload a document that shows your address (e.g. bank statement or utility bill).
  • Fill in your personal details.
  • Review and accept the user agreement
  • Submit your application.
  • Account approval usually takes 1 to 3 working days.

Is Webull safe to use?

Safety is a major concern for any investing platform, and Webull Malaysia has several layers of protection in place:

  • Regulated by the Securities Commission Malaysia (SC)
    Webull Malaysia operates under a Capital Markets Services Licence. This means they must follow strict rules on client funds, reporting, and risk management.
  • Your money is held in a trust account
    Client funds are kept separate from the company’s own money. This prevents misuse and protects your deposits if anything happens to the company.
  • Moneybull uses a licensed fund manager
    Moneybull is powered by AHAM Capital, which is one of Malaysia’s largest and most established fund managers. Your money is invested in a regulated money market fund, not held by Webull directly.
  • No lock-in for Moneybull
    Since Moneybull is a money market fund, your funds remain accessible. You can redeem anytime, and Auto Sweep ensures liquidity when you buy stocks.

How to sign up (using my Webull referral link)

  1. Click my referral link: https://www.webull.com.my/k/Magic
  2. Or use my code: Magic
  3. Register for a Webull Malaysia account and complete KYC.
  4. Deposit RM 5,000 into your Webull account (via bank transfer, or whichever deposit method Webull supports).
  5. Keep that balance for at least 30 days (do not withdraw).
  6. Once you deposit RM5,000, your stock coupons will appear on the rewards page by T+1, with the estimated arrival date of your shares.

Final thoughts and verdict on Webull Malaysia

Get started with Webull Malaysia: deposit funds, receive NVIDIA shares as a bonus, and optionally transfer cash to Moneybull for competitive returns on idle funds (6% pa for 90 days!).

Grab this opportunity, get the free RM500 NVDIA share and learn about investing with Webull along the way!

This content is sponsored by Webull and has not been reviewed by the Securities Commission Malaysia (SC).

Refund from TnG Card (Touch n Go) – Step by Step Guide

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Filed Under: Other, Financial/Life Hacks, Investment 0

This article will serve as a guide on how to get a refund from TnG card in 5 easy steps.

TnG Card FREE Replacement

Before moving on to getting your refunds, I’ve got a PSA here for those of you wanting to get your expiring TnG cards replaced for free. So apparently, 1 month before your TnG card is set to expire, you’re able to get a free replacement.

TnG Card free replacement 1 month

Based on the discussion found on Lowyat forum here in Nov 2024. Unsure if this works currently or if TnG will be discontinuing this but it is worth checking out.

Touch n Go – TnG Refund in 5 Easy Steps

How to Request a Refund from TnG Card (Touch 'n Go)

Today I learnt how you can request a refund from TnG card easily. Decided to figure out how to get back my funds as my IC and also one TnG card expired previously.
I’ll keep the post short.

Confirmed working as of 15 May 2024. I received my refund.

How to Request a Refund from TnG Card (Touch 'n Go)

Step 1 – TnG Refund Page

After getting hold of your TnG card’s serial number, you can head to their Refund page hERE.
Go ahead and Register. You’ll then be brought to this page hERE.

You’ll find your IC(s) listed here with its respective balance if you’ve ever reloaded and used your IC as TnG. Mine looks like this:

Step 2 – Find your TnG Card’s Serial Number

Before initiating the refund, ensure you have your TnG card’s serial number. This number is typically located on the back of your card. Alternatively, if you’ve registered your TnG card via the TnG eWallet app, you can retrieve the serial number there.

Step 3 – Link and Register Cards

Initially, you won’t see any of your TnG cards here, so please go ahead and register them. Look to the fields on your left and you’ll find Cards & Devices > Register Additional Card/Device.

Proceed to key in your card’s serial number.

Step 4 – Request Refund

With your card linked, you can now request a refund. Look to your left again and you’ll see Refunds > Refund Request.

Choose Card Termination as the Refund Request Type.

Then select the card you want to terminate and request a refund from. Reason: Expired Cards
Select how you’d like to receive your refund: Bank Transfer, DuitNow or TnG eWallet.

Step 5 – Done!

And you’re done! This is a pretty straightforward process. After submitting your request, the refund will be processed within 14 to 30 days. For lost or stolen cards, the refundable amount is based on the available balance at the time of the refund form submission.

Please be aware that your card will be terminated, so I only do this for expired ones to get the money out. I hope this helped!

Important Considerations:

  • Registered Users Only: Refunds are exclusively available for users who have registered their TnG cards on the portal.
  • Refund Methods: Ensure that the bank account details provided match the registered card owner’s information. Refunds to third-party accounts are not permitted. For non-Malaysian account holders, refunds over RM100 can be processed via Telegraphic Transfer (TT). Refunds to the TnG eWallet are only applicable for verified accounts.
  • Card Termination: Requesting a refund will result in the termination of the associated TnG card. It’s advisable to only proceed with this for expired or inactive cards.

For further assistance, you can contact Touch ‘n Go via:

In addition to this, you’ll be surprised to find that we still have credit cards that provide us with cashback here in Malaysia – namely the Affin Duo Visa Card. You can read more about the Best Credit Cards in Malaysia here.

MooMoo Malaysia Review: Platform, Fees & Full Guide

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Filed Under: Dividends, Free Stuff, Investment, US Stock Investment 9

MooMoo Malaysia is finally licensed by our own Securities Commission and is finally available for trading here in Malaysia. They’re one of the best brokers we have in Malaysia and most of my funds are with them.

What’s New – 2025

  1. Cash Plus – I’ve added the details below, but basically our idle cash can now earn interest. 3-3.5% for the MYR fund and 4.5+% for the USD fund.
  2. New, new user promo – details added below in the article.
  3. Additional RM40 for new users when you use my code – DM77
    The full steps on how to claim can be found below.

Sign up link: Moomoo Malaysia

See how MooMoo Malaysia compares to other brokers here: Stock Brokers Comparison

Key details to know before signing up

  1. Fees – one of the lowest available to us (licensed brokers), zero commission for 180 days
  2. Cash Plus – Your idle cash can now be put into MY or USD money market funds that earn at least 3-3.5%. US one earns you close to 5% as of Aug 2024.
  3. Regulation – Licensed and regulated by the Securities Commission of Malaysia
  4. Interface – Very user-friendly
  5. Account type – Nominee

MooMoo Malaysia FAQ

Some other frequently asked questions I got from readers.

  1. What is Moomoo?
    MooMoo Malaysia is an online brokerage platform that offers commission-free trading and advanced tools for investors.
  2. Is Moomoo available in Malaysia?
    Yes, Malaysian investors can access Moomoo for a localized and user-friendly trading experience.
  3. What fees does Moomoo charge?
    Malaysia Stocks:
    0 commission
    2. Platform Fees: RM 3 / Order
    Minimum: RM3
    US Stocks:
    0 commission
    Platform Fees: $0.99 / Order
    Minimum: $0.99
  4. How do I open a Moomoo account?
    Download the app or visit the website, complete the registration process, and verify your identity. These can all be done 100% online!
  5. Does Moomoo offer research tools?
    Yes, it provides real-time market data, charts, and analytics. They have a vibrant social community as well.
  6. Is customer support available for Malaysian users?
    Yes, Moomoo offers dedicated support for users in Malaysia.
  7. How secure is the platform?
    They are licensed by our highest authority in Malaysia – The Securities Commission (SC)
    Moomoo also uses industry-standard security measures ie. 2FA for logins etc.

Step-by-step Guide: How to Redeem from your MooMoo MY Cash Plus Account

It has been frustratingly hard for me every time I try to redeem/withdraw from the Cash Plus account and I assume it must be for you too. So here’s a short guide for you to refer to whenever you get stuck.

Below is the step-by-step guide.

Look for the Accounts button at the bottom of your screen.

Accounts button. Step-by-step Guide: How to Redeem from your MooMoo Cash Plus Account

Now look for Securities and Funds, and select Funds.

Funds Step-by-step Guide: How to Redeem from your MooMoo Cash Plus Account

Scroll down a little and you’ll find your Cash Plus fund – mine is United Money Market Fund-Class R.

United Money Market Fund-Class R Step-by-step Guide: How to Redeem from your MooMoo Cash Plus Account

Click on it and you’ll be brought to the fund page. At the bottom, you’ll see your Redeem button.

Redeem Step-by-step Guide: How to Redeem from your MooMoo Cash Plus Account

Step-by-step Guide: How to Withdraw from your MooMoo MY Account

If you’re looking to withdraw to your bank account after redeeming, follow the below steps:

Go back to the same Accounts tab earlier at the bottom of your screen.
Look for the All button.

All button Step-by-step Guide: How to Withdraw from your MooMoo Account

You’ll then find Withdraw under the Funds category.

Withdraw button Step-by-step Guide: How to Withdraw from your MooMoo Account

Make sure that you’re withdrawing to your own bank account as the name of the account holder has to match.

MooMoo Malaysia Referral Code and Latest Promotion

Sign-up offer and promotion for new users right now (updated December 2024):

  1. Deposit ≧RM1,000 and hold for 60 days to get RM100 reward. You can get an extra RM40 when you use my code – DM77 via Exclusive Deposit as shown in the image above
  2. Deposit ≧RM10,000 and hold for 60 days to get RM550 in rewards (including 0.3 shares of Nvidia stock)
  3. Deposit ≧RM30,000 and make 3 buy transactions and hold for 60 days to get one Nvidia stock for free

More T&Cs on Moomoo’s website.
Another noteworthy update is that Moomoo now supports FPX deposits. I get mine immediately reflected.
You can sign up via my link here: https://j.moomoo.com/00KiPh
Exclusive deposit code: DM77
Thank you in advance!

Also, from today to Jun 30th, Moomoo will reward customers who sign up with the above link with an extra RM50 reward. All you have to do is deposit RM1,000 and you will get an extra RM50 in coupons. The stock coupons will automatically arrive in your account within 5 working days.

What I’ve Received as Rewards from Moomoo so far

March 2024 – 1 Apple share (new customer promo)
March 2024 – RM50 cash voucher and RM50 cash coupons (new customer promo)
April 2024 – RM50, RM100 and RM500 cash coupons (deposit & invest)
July 2024 – 1 Apple share (transfer-in promo)

A few other fee subsidies and all but I won’t be taking those into account. One Apple share is worth about RM1K today. So that’s a total of RM2,750 in rewards I’ve gotten out of Moomoo so far. I know not everyone would’ve been able to capitalise on all their promotions but I hope you’ve gotten some at least.

I will continue to share new promos that are worthwhile so you won’t miss any. Sign up for my newsletter for these updates (subscribe via the form on the home page, right sidebar or at the very bottom of this page)

You can sign up via my link here: https://j.moomoo.com/00KiPh
Exclusive deposit code: DM77

My Verdict: Yes I’ve Moved to MooMoo Malaysia

Update: I’ve moved my Hong Leong stocks to Moomoo.

Now, personally, I’m thrilled another licensed brokerage has joined us.

Security and safety-wise, nothing beats SC licensing and regulation for us Malaysians. Their holding company – Futu Limited is also a listed company on NASDAQ. I’d say this is as safe as it gets for investors.

I will be looking to probably move my funds from eToro to MooMoo MY within the next few months. Currently checking out their paper trading functions as well.

I know most of you savvy investors will be looking to cash in on the RM100 cash coupons and Apple share to get the most bang for your buck. Make sure you are aware of the terms, ie the RM8,000 deposit will need to remain in your account for at least 30 days to qualify.

As always, you can sign up via my referral link hERE and help support the blog. Thank you!
Exclusive deposit code: DM77
See how MooMoo Malaysia compares to other brokers here: Stock Brokers Comparison

Disclaimer:
All views expressed in the above post are the independent opinions of the author, which are not necessarily shared by Futu Malaysia Sdn. Bhd. (“Moomoo MY”). No content shall be considered financial advice or recommendation. Moomoo MY links are included in this post, through which referrals are made and I may receive certain commissions. Please contact Moomoo MY for more information.

Tiger Brokers Review: Platform, Fees & Features

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Filed Under: Investment, Dividends, FI/RE, Financial Independence, Investment Portfolio, Sponsored, US Stocks 2

As of 2025, I am now using only MooMoo Malaysia and Rakuten Trade for my stock trading needs.

I have had an account with Tiger Brokers since 2020 but have yet to utilise it apart from trying out their interface and depositing a small amount in there.

If you are looking to trade international stocks and have yet to open an account with Tiger Brokers, you will be glad to know that there are huge perks to opening an account now.

Tiger Brokers Account Opening Referral and Promotion

  • 1 unit of Grab share
  • Unlimited commission-free trades for HK, SG, and China A-Shares for 365 days.
  • Unlimited commission-free trades for US stocks for 180 days. 

Account Funding Reward (Initial Deposit of SGD1,000 or more + execute 5 BUY trades)

  • SGD88 cash

The full T&C can be viewed hERE. The promotion lasts till 12 October 2022.

Why Tiger Brokers?

Fees

First off, as always, fees. Tiger Brokers’ zero-commission trading is huge and beats many other international brokers.

Now, zero commissions do not mean that trading of US shares is totally free because there is, of course, a platform fee of USD0.005 per share or a minimum of USD1 per trade. It is a fee, but it is cheaper in comparison to many other brokers. So, keep that in mind.

As I’ve mentioned many times, fees are important because they eat their way into your investment and you’ll find yourself paying a lot more than 1% at the end of day, say, 20 years.

You may think a 0.1% or a 1% fee is of no significance but with the compounding nature of long-term investing, we, as average investors, are looking at hundreds of thousands to millions of dollars in our investments at the end of the day.

Regulation and Protection

Tiger Brokers (Singapore) Pte Ltd is regulated by the Monetary Authority of Singapore (MAS).

Elsewhere, they’re also regulated by the SEC in the US, ASIC in Australia and HKSFC in Hong Kong. They’re compliant in all the countries they operate in so they’re safe. Apart from that, customer funds are held in a segregated trust account with DBS Bank Ltd. Custodian of investors’ shares is with the Central Depository (CDP) as well as overseas brokers.

Another important safety factor is that Tiger Brokers is listed on NASDAQ and under the ticker TIGR. This, in my book, adds credibility to Tiger Brokers as a brokerage platform. Their books and reports are easily accessible should you feel the need to refer to them as well.

Rewards

There’s a built-in rewards system for users of Tiger Brokers – Tiger Coins. By completing certain tasks (which aren’t all that hard) you’ll be credited with Tiger Coins which can be used to redeem rewards such as commission-free trades.

Account Opening and Registration

So, you’ve decided to open an account. Two types of accounts are available at Tiger Brokers – Margin and Cash Upfront. I’ll always recommend a cash upfront account to start with. If you’ve been trading and investing for a long time and are confident in your abilities, you can always move up and open a margin account.

Link to register hERE.

Funding Your Tiger Brokers Account

The are many ways to move your funds to Tiger brokers but the best I’ve found and that’ll save you fees in the future is this: You’ll have to open a bank account in Singapore. Basically, you transfer your monies to an SG bank account (you can use services like Transferwise etc to save on fees) and then from there into your Tiger Broker’s account.

Another transfer method to note is to use Wise which is integrated directly into the Tiger Trade APP, as part of a collaboration with Tiger Brokers. This method is fast and easy once it is set up. More info can be found here: https://www.tigerbrokers.com.sg/help/detail/87168024.

What I’ll be Using

As of 2025, I am now using only MooMoo Malaysia and Rakuten Trade for my stock trading needs.

As always, my Facebook, Instagram. Follow, keep up to date.

Because of Tiger Broker’s low fee structure, I’ll be looking to add a ton of long-term international stocks here. Especially US shares.

Love the rewards I get from trading as well in the form of Tiger Coins.

End.

Account opening rewards are looking good and you get rewards as you trade and invest.

If you’ve yet to sign up and want to, use the registration link hERE. Check out the full details of the promotion hERE.

Disclaimer

This post is sponsored by Tiger Brokers.

T&Cs apply. Please visit our website for other applicable fees: https://www.tigerbrokers.com.sg/commissions/fees.

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Carsome Review – My Experience Buying and Selling My Car with Carsome

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Filed Under: FI/RE, Financial Independence, Financial/Life Hacks, Investment, Other, Travel, food and the finer things in life 9

This is my Carsome Review and my full experience of buying and subsequently selling my car with Carsome. I love cars and I’ve never bought a brand-new vehicle in my life. The car I just sold off was a 21-year-old BMW e46. I got the car back in 2013 and have been using it as my daily drive.

Carsome Review - Buying and selling BMW E46

The reason I had to let go of the car was the extremely high cost of maintenance. I had been consistently spending thousands of ringgit a year for part changes and enough was enough. This is why you shouldn’t ever keep an old continental car as your daily drive.

The options available to me were to sell the BMW and get another newer car or sell the BMW and use Grab. I decided on getting another vehicle as I actually like driving and after doing some simple calculations, owning my own car made more sense.

Carsome Review – Selling my Car to Carsome

I had been getting ads on Instagram from both Carsome and myTukar (now Carro) regularly by this time. Went car-browsing on both sites and spent hours sifting through them.

Some stuff to take note of, myTukar doesn’t accept cars over 20 years old. Carsome does.

Also, both of them gave me much higher prices compared to the local dealers you can find on Mudah. I predict a swift and timely death to 2nd hand car dealers all over Malaysia soon. They just can’t compete anymore.

So, took the plunge, sold my car to Carsome and got the best possible price (it was still a really shit price) and went browsing for my next car at Carsome.

Carsome Review – Buying a Used Car from Carsome.

For years now, I already knew the brand and car model I wanted (it is a hatchback). And that’s about as much as I’d like to disclose about my vehicle for now.

All I had to do was look out for one that had low mileage and was in good condition. I had already done my research on the car with all the known issues and what to look out for. There were only two real choices for me. The hatchback or the very compact and fuel-efficient Perodua Axia. Also a low mileage and good condition one of course.

I was in no rush to sell the car so I think I spent about a month or two just sifting through and browsing cars on Carsome and myTukar. I had about 6 tabs open on my browser every day on cars. The car I wanted came on sale in January on Carsome. It was the model I wanted and it had done about 50k in mileage. The same models were at 80-100k mileage and priced the same on sites like Mudah.

Made the call, went through the process and paid a refundable deposit of RM1,000 for the car. I had the salesperson bring the car over to KL all the way from Johor for a viewing.

Steps to Buying a Secondhand Car

Now I’m sure there are plenty of resources on buying secondhand cars online you can go through. Heck, some of you here may even be veterans and are better at it than I am. But here is what I did.

1. Inspection

One of the reasons I chose Carsome was for its inspection and checking system. There is a detailed report on the problems found on each car listed on their website.

Despite this, the very first thing I did was bring the car to a friend’s workshop and garage for a full inspection. Did an Onboard diagnostic (OBD) to make sure the car wasn’t tampered with. Paid RM150 for the inspection.

We checked for rust at the bottom and made sure no rust was found on the car’s mainframe. We noticed significant rust on the car’s front right absorber and mounting.

The salesperson from Carsome was a really good one and a friend of a friend. He agreed to have the car sent back to their workshop and to change the parts if there were issues found.

2. Test Driving

After waiting for about a week for the car parts to be fitted, I brought along a very kind friend who was a mechanic for the first viewing and test drive. Let him take the wheel and right off the bat, we heard weird sounds coming from the front whenever the car went over a speed bump.

And guess what? It was back to the workshop again! In total, I think I went for 3 test drives because of the sound from the front. Carsome changed: Absorbers, Mounting, Dust Covers, Bearing and even did the alignment for the wheels. At the end of 4 test drives over the span of a month, there was still some sound coming from the front over speed bumps but it was significantly less, I was already feeling really embarrassed for the back and forth and decided to just go ahead with the purchase. I decided that I would refit the parts on my own time later.

I think only companies like Carsome and myTukar will do this for you. If you’re purchasing from a secondhand car dealer, forget it.

3. Loan Application and Payment

I got the salesperson to submit my hire purchase application to a few different banks and settled on CIMB as they offered me the lowest rate at 3.1% for a 7-year loan. The loan came with a few conditions.

  1. Open a savings account with CIMB;
  2. Take the first year’s motor insurance with them; and
  3. Snatch Medz for one year.

Snatch Medz is a sort of life insurance where if I were to die or suffer a total disability, the loan would be paid off. This one cost me RM430 for the first year.

Used my credit card for the deposit, but had a problem increasing my credit limit with Maybank so I had to delay the purchase for another few days. Managed to get it settled eventually so a tip here is to get ahold of your bank earlier if you’ve already decided on the car. Get your points from the deposit! It is worth it.

Also, you may be interested to read about how long of a loan period you should go for, and what is a good way to look at car loans through a personal finance lens here.

Additional Stuff I Asked For

If you’re going to get a vehicle from Carsome or Carro (formerly myTukar), don’t forget to ask for additional freebies!

You can check out Carsome hERE.

Change all faulty parts!

Change in parts that were broken. As mentioned earlier, I got a lot of parts replaced. If you’re getting your car from a dealer like Carsome, you should do your inspection and ask for a change in faulty parts. Ask for everything!

Car plate number interchange

I got a discount for the exchange of my car plate number. I bought my own number through JPJ’s auction and had Carsome replace it at a discount. I think it was around RM200 cheaper to do it through their agent.

Promotions

Always remember to check what promos the dealer is having. It so happened that Carsome was having a TnG wallet promo and I asked for that.

They were also giving an RM1K discount if you sold your car to them and subsequently bought from them afterwards. I qualified for that and got RM1K off as well.

Petrol vouchers

And after getting everything sorted, I got my guy at Carsome to get me petrol vouchers! I got about RM300 worth of it.

End.

So I’ll most likely be using this car for at least another 10 years. Will be keeping it in good condition. I have still yet to buy a new car for myself. This article has taken a pretty sharp turn away from investing, but hey, buying a car costs money and making a good decision here is vital to investing too.

If you’re looking to sell or buy a car, head over to Carsome’s website. I’ve had a good experience with them. I can even get my salesperson to give you a call so drop me an email or a DM on Instagram.

Aaaaand, if you’ve been following me on Instagram, you would’ve noticed me posting pics of another vehicle occasionally. I invested in an old classic car and I’ll be posting much more about it soon!

Kenanga Digital Investing (KDI) – An Review of KDI Save and KDI Invest

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Filed Under: Investment, Robo-Advisor 8

Fully Automated Robo Advisor

Another new addition to the Robo-advisor stratosphere! This time from Kenanga and it is called Kenanga Digital Investing (KDI). The platform is fully A.I.-driven with little to no human involvement. Most of the Robo-advisors we have in Malaysia right now are a mix of A.I. plus fund manager’s decisions. The only other similar one is from MyTheo.

Is Kenanga Digital Investing (KDI) Safe?

First off, they’re licensed by the Securities Commission (SC). In terms of governance and licensing, that is as safe as it can get.

As for its execution, the algorithm used by Kenanga Digital Investing is fully A.I.-driven with machine learning capabilities. In the online briefing I attended, Kenanga mentioned that they’ve backtested all the portfolios from 2004. The results shown and presented to us were positive.

Kenanga Digital Investing – KDI Save and KDI Invest

KDI Save – Cash Management Fund

KDI offers two main products to clients and investors. The first is their Cash Management Fund (CMF) – KDI Save. They’re offering fixed returns at 3.0% p.a. with zero fees and calculated on a daily basis. This is one of the highest I’ve seen. And, you don’t have to start off with a huge amount, the minimum is RM100. However, it is capped at RM200,000, anything above that, it’ll be a 2.25% return p.a. Still decent.

KDI Invest – A.I. Driven Investing

KDI Invest is further broken down into five different funds based on your risk profile.

  1. Very Conservative
  2. Conservative
  3. Balanced
  4. Growth
  5. Aggressive Growth

From the backtesting results (from 2004 to 2021) I sighted during KDI’s briefing, the annualized return for the five funds ranges from 6% to 14%. The maximum drawdown was in the range of 10% to 16% for all five funds. Which is pretty damn good.

Kenanga Digital Investing – How to Register?

The steps from registration to execution are simple and straightforward. Before that, there is a special promotion for Dividend Magic readers.

Promo and Referral Code

Click Here to Sign Up
Referral code: 100108

Using the above link, you’ll receive RM20 for free upon successful activation of your account with a minimum transacted amount of RM100 into KDI Save or RM250 into KDI Invest. This RM20 will be paid out within 30 days.

Do also note that this promotion is only applicable to the first 500 successful referrals and valid up to 31st May 2022.

The next step to registering is to key in your personal details and to take a clear picture of the front and back of your IC.

You then answer a few simple questions regarding your investment goals and horizon. You’ll be recommended with one of the five portfolios based on your answers. However, you’re still free to pick one on your own. As I’ve still got a long time-horizon ie. 20+ years, I went with the KDI Invest – Aggressive Growth portfolio.

Benefits Kenanga Digital Investing (KDI) – What sets it apart?

Their cash management fund – KDI Save is currently one of the best I’ve found. No fees, a 3% return, and one-day withdrawals. It is perfect for my emergency funds now instead of placing them in fixed deposits or a savings account. I plan to move my funds here. Keep in mind that funds over RM200K earn a lower rate of 2.25%. Which is still higher than FDs!

As for KDI Invest, I’m happy with the returns shown from their backtesting. Would love to see them go further back than 2004 though. I’ll be trying this out for a year and then compare it to my returns from my investments in StashAway.

The fully A.I.-driven approach sounds good to me, and the maximum drawdowns, even for their most aggressive portfolio was only 16%.

Lastly, FEES! I know how everyone, myself included is always concerned about fees. KDI Invest employs a tiered system.

The fees are in line with other Robo-advisors, even cheaper at some tiers. They’re also not charging anything for investments RM3,000 and below.

Also to note, the minimum investment amount is RM250.

How will I use Kenanga Digital Investing (KDI)

I’m definitely going for their cash management fund – KDI Save. And I’ll be testing the waters first with RM3,000 in KDI Invest for a few months. If all is good, I’ll be doing DCA via Kenanga Digital Invest for the long term.