I feel so stupid leh... I been playing intraday transaction for about 2 months and my broker keep charging me contra rate.. when I ask them today they said I need to open daytrade account to enjoy the Intraday interest.. OMG.. so angry...
ellesse,u r not stupid but ignorant. Ur remisier is....he should hv advised u on the day when u started trading intraday. Or he is greedy...even if the trades r done, ur remisier can amend the same contracts on the following day.
Hi Marvellady.. Thanks... :D I think my remisier is greedy lah.. If I don't ask him today then he won't tell me.. He said he will help me open the daytrade account and can be use on Monday... so for today he still can earn more because this morning done some intraday transaction already..
Collaterised - is like 'cagaran' in Malay, definition edited from investopedia to fit this context: you pledges assets (cash and shares) as recourse to the broker house in the event that the you default your payment for the purchase(financial instruments, like share etc). So the method is like you are borrowing money from broker house when you make any purchase, then you have to settle the payment, and you can make purchase with value more than cash you have in your account as long as you settle them in designated period, or else they will be forced sold and you will need to pay for the loss, and of course take the profit if there is any. Buy more than what you have without intention to pay, purposely waiting for force selling is called contra trading.
Cash upfront - is put cash first into acc., then only u can make any purchase, if no money in acc. can't make any purchase.
Collaterised and 'cash upfront' are referring to account type, meaning which type of account an user is using.
That's what I know so far, anyway, please correct me if there are any dealer or remiser or any senior find that I got it wrongly.
MrGala, thank you so much. I got the whole picture of cash upfront and collateralized. Then, in the case of Maybak, is my understanding below correct?
Maybank's trading limit : Cash: 1x; Collateralised: 3x cash/shares Situation: I want to invest RM3000 in stocks
In cash upfront investment, i need to deposit RM3000 in my account. In collateralized investment, If only i have RM 1000 in my account, I can invest in stocks because I can borrow another RM2000 from brokers
ruru, I think maybe it's so, but the 'borrowing' need to be settled in certain period of time, for maybank i duno how long. Why dont you contact Maybank to ask them? =D
My broker is damn strict as they reject several of my orders even though i hv cash upfront resulted in me missing a few profit making trades. Consider to change broker to overcome the uncalled for orders rejection. Any proposal?
I'm currently using hle broking, i'm satisfied with customer service, they react quick to my problems. They charge a min. of RM 8 / 0.1% brokerage & u earn 2.6% interest p.a on your trust account. I previously use OSK, have been using it for years but they never offered me low brokerage fees.
Jz wan2 ask Osk user nw is rhbib user. Just told by my broker he mention there is 0.1% for buy and 0.42% for sell if u using cash upfront account. Is that true?
LH Yap, go for hle broking they are way cheaper than OSK. There are 2 options, value trade or 1 trade account. Go for value trade account, hle charge flat brokerage rate of 0.1%, min rm 8.
I wouldn't think of short selling stocks even if it is allowed, it not practical because upside risk is greater than downside plus additional fees involve it's not worth it. I would recommend trading forex, futures & options.
not sure if i can ask here. Last time hong leong platform shows transaction based on a sum. eg, if i buy 200 unit at best sell price, the reflected details is 200 buy transaction. But now, if i buy 200, it will breakdown into seperate individual transactions, eg, 50 + 70 + 80 = 200. the trade detail represented in this manner is misleading. hard to tell when big selling and buying are happening when all transactions are breakdowned. has anyone also share the same concern?
I suspect the minimum amount of RM8 stated for Maybank is incorrect by referenced to some of my trading value of RM4K was charged for RM28. Will anyone be able to advise? I am considering to open another trading account with cheaper brokerage charges.
Very impt to pick the right broker with low fee n providing conducive environment for trading. I hv a bad experience with an online broker which charge exorbitant fee while restricting your trading right on what stock to buy in. They will drive u crazy by accepting your buy orders on downtrend stock n ban u from buying uptrend stocks with strong earning even though u hv sufficient fund in your trading a/c, probably they want u to cut loss frequent5ly so t5hat they can make more commission. After a few encounters, i quickly ran for cover n switched to another broker to destress n now smiling all the way to the bank with low fee n trade freedom.
If interested in opening a trading account with Public Investment Bank, Please email tikusniaga@gmail.com ... DIRECT ACCOUNT, NON-CASH UPFRONT , brokerage only 0.1%
cimb one not bad leh, the technical chart can expand more than 10 years, and the thing I like most is the fundamental analysis provided by Capital IQ and Thomson Reuters! rate-wise, 0.1% min 8 only~~~
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
g3nn
2 posts
Posted by g3nn > 2014-04-10 00:02 | Report Abuse
I also dunno why maybank just 2 stars. Have been using them for years and am happy.