Tuesday 2 July 2013

Lowest brokerage in town?

I think Ambank's eDirect offers the lowest brokerage for cash upfront online account, 0.035% or minimum brokerage fee of RM6, whichever higher.

Interest is payable for cash balances of RM2k and above.

Plus point is that any contra gains will be credited into the trading account on contra date.

However, it should be noted that eDirect does not consolidate the trades of a counter. Minimal brokerage of RM6 will be imposed on every single trade order. Fees are also imposed on various types of service for nominee account and I don't think the rates are cheap.

More info available here.
See product disclosure sheet

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