On the 25th February 2010, ECM Libra Investment Bank Berhad has launched their newest online trading portal, ecmmoney.com. With the new online portal, they hope to reach more retail investors throughout the country and make online investment easier for retail and professional traders.
With ecmmoney.com, you will be able to buy and sell Bursa Malaysia shares online easily and no remisier services is necessary. The portal also act as one-stop center for local and international financial news.
Together with the launched, ECM Libra run a promotion on brokerage rate for cash upfront package. The detail on the promotion are,
- 0.05% brokerage fee per contract or RM8 minimum brokerage.
- This promotion runs until 31 August 2010.
- Normal Brokerage rate is at 0.08% per contract or RM12 minimum brokerage.
- Need to deposit Cash Upfront before trading
The basic features that ecmmoney.com offer are
- No minimum deposit requirement
- Interest bearing for trust account with more than RM1,000
- Trading limit 2x on cash and 1x on share collaterals
- Auto settlement T+3 for domestic equities trades; force selling on T+4
The following are the standard brokerage fee for trading account
- Intraday brokerage fee at 0.08% per contract or minimum brokerage RM12, whichever is higher
- 0.35% for contract value ≤ RM100,000
- 0.20% for contract value > RM100,000
- Minimum brokerage RM12
ecmmoney.com, features 4 interesting product as below
1. Cash Upfront
Brokerage fee 0.08% per contract or minimum brokerage RM12, whichever is higher
Trading limit 1x on cash collateral
refer to above basic feature and standarard brokerage fees,
Brokerage fee 0.10% on per stock contract when profits are made during the day.
Otherwise, it is 0% brokerage fee (Stamp duty 0.1%, clearing fees 0.03% and administration fee 0.01% apply)
Investors who maintain average balance of RM30,000 and above in their account are guaranteed 5 free brokerage contracts during the month.
If account balance is below RM30,000, normal brokerage rates apply.
After utilising 5 free brokerage contracts in a month, normal brokerage fees apply.
Stamp duty is 0.1% (round up to the nearest RM), clearing fee is 0.03% and administration fee is 0.01% on intraday trading or 0.03% on contra trading. All fees are charged on a contract basis.
Custody and Nominee fee
|Opening CDS Account||RM10 per account|
|Deposit||RM10 per certificate|
|Transfer||RM10 per security|
|Activate dormant account||RM5 per account|
|Cash dividend||1% or net dividend (min RM2.50, max RM500)|
|Right Issue, Acceptance of General Offer, Conversion and Redemption||RM20 per security|
Very good brokerage fee during the promotion period, I may open an account with them. The only thing I don’t like is the fees on dividend. HLeBroking does not charge me for nominee account. I also hope that, they have mobile trading platform.
For fees and product features comparison with other brokers, you can look here.
For more information and account registration kindly browse through ecmmoney.com website.