Online share trading is the current trend. In majority of the securities firms, this method usually enjoy 30% lower brokerage rate than traditional trading with phone calls to remisier.
Currently, most securities firms set the brokerage rate at 0.6% for normal below RM100k trading. A 30% discount means an online trading rate of 0.42%. Day trading rate could be lower, as well as high trading value (> RM100k per transaction), which rate is negotiable with the remisier.
It is a good news for long term investors that CIMB is currently offering brokerage fee of only RM8.88 for transactions done with their online Clicks Trader system. I say it is a good news for long term investors, because its trading limit isn't attractive, which is set to only 1x cash value only. Speculators and day traders might not be attracted by such a strict limit.
CIMB has set a condition that your Clicks Trader Account must have a minimum balance of RM10,000 before the T+3 cut-off time in order to have a trading limit and enjoy the low brokerage rate at RM8.88 per transaction.
Currently, they are running a promotion until end of year 2008 for new signups of Clicks Trader Account. The first 2 matched online purchase orders via CIMB Clicks will be free. This mean the brokerage fee will be RM0 for the 2 transactions. That would save you a total of RM17.76 in brokerage fee, not so attractive but good enough for you to use the money for a good meal.
About 4 months ago, I mentioned about hold on your money and do not dump in for investment purpose because the market was sinking then. Now, I think it is a good time for long term investors to start to plan for some bottom fishing. I also wrote about how to observe a bear's bottom. Probably you can apply that simple strategy to look for the best buying time.
For more information about the CIMB RM8.88 brokerage Clicks Trader Account, click here.
Thursday, October 30, 2008
Online share trading brokerage fee for RM8.88 only at CIMB Clicks Trader
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2 comments:
Hi,
Do you use CIMB Clicks Trader account personally before? How do you find the system and the overall services provided by the company?
Are their stable or reliable? Should there is any problem, how's the customer's support?
I have confidence on CIMB Securities but not so in CIMB Bank.
Thanks
Hi,
You need to have an iTrade account in order to use the online trading system.
It is actually the same online system with CIMB Securities, which is Java based using N2NConnect platform. I find it not working well with browsers other than IE. Will have problem running in Firefox, Opera, etc.
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