Opening your first share account in Malaysia is much simpler than it used to be. Most brokers now let you do everything on your phone. This guide explains the two accounts you need, the choices you must make before you sign up, and the steps from download to first trade.
What is a CDS account, and why do you also need a trading account?
The Central Depository System (CDS) account is run by Bursa Malaysia Depository. It is where your listed shares are recorded, a bit like a digital locker. You cannot trade from it directly. For that you need a trading account with a stockbroking firm, which sends your buy and sell orders to Bursa Malaysia. All stockbroking firms are Authorised Depository Agents, so you normally open the CDS account and trading account together with the same broker.
Who can open one?
- Individuals aged 18 and above on the date of application.
- Malaysians with a MyKad can open accounts fully online. Bursa Anywhere’s online CDS opening is currently for MyKad holders only; foreigners usually need to apply through a broker with a passport.
- You need a bank account in your own name for deposits, withdrawals and dividends.
Three choices to make before you sign up
1. Direct CDS or nominee account?
A direct CDS account is in your own name, so dividends, corporate-action notices and AGM invitations come to you, and you can apply for IPOs. A nominee account holds shares in the broker’s nominee company on your behalf. For most individual investors a direct account is the better default. Read Direct CDS vs Nominee Account for the full comparison.
2. Conventional or Islamic?
Many brokers offer an Islamic trading account that only allows Shariah-compliant counters and follows Islamic principles for financing and interest. See Conventional vs Islamic Trading Account.
3. Cash, contra or margin?
A cash upfront account lets you buy only with money you have deposited. Contra and margin facilities give you a larger trading limit but magnify losses. Beginners usually start with cash upfront. See Types of Trading Accounts in Malaysia.
Step by step: opening your account online
- Choose a broker. Compare brokerage rates, minimum fees, markets offered (Bursa only, or US and Hong Kong too) and the app. Our broker comparison covers the main options.
- Decide whether you want a remisier. A remisier is a licensed dealer’s representative who helps with IPOs, corporate actions and account issues. If you want one, enter their referral or invitation code when you register, because it is harder to add later.
- Download the broker’s app and register with your phone number and email.
- Complete eKYC. Scan your MyKad and take a selfie or short video when prompted, then fill in your address, employment, income range and bank details.
- Choose your account type (direct CDS, conventional or Islamic, cash upfront) and accept the terms.
- Wait for approval. You will receive your client code and CDS account number by email or in the app. Approval times vary by broker, from the same day to several working days.
- Deposit funds by FPX online banking from your own bank account, then place your first order.
Example: opening an M+ account
At Malacca Securities, registration for Bursa Malaysia, US and Hong Kong trading is done in the M+ Global app (the older M+ Online app was discontinued on 31 October 2025). Download M+ Global, tap Open Account, register with your phone number, and complete the eKYC steps; a CDS account is opened as part of the process. The app walkthrough is in How to Use the M+ Global App.
What does it cost?
Opening fees are small or waived at many brokers, so the real cost is in trading. Every Bursa trade carries:
- Brokerage, which differs by broker (often a percentage with a minimum fee per trade).
- Clearing fee of 0.03% of the trade value, capped at RM1,000.
- Stamp duty of RM1 per RM1,000 of trade value (or part thereof), capped at RM1,000.
From 1 October 2025, 8% SST may apply to brokerage and clearing fees on some instruments such as ETFs, REITs and warrants. Check your broker’s fee page before you trade.
Already have a CDS account?
If it has not been used for years it may be classified as inactive or dormant. See how to reactivate a dormant CDS account. You can also move shares from another broker’s CDS account using the Bursa Anywhere app’s securities transfer feature.
Open your M+ account with a remisier in 3 steps
- Install M+ Global from the Google Play Store, Apple App Store or Huawei AppGallery.
- Tap “Open Account” and register with your phone number.
- Complete eKYC and enter invitation code UBZQ if you want me as your remisier. Your CDS account is opened as part of the same sign-up.
When you finish you’ll see a “Submitted for Evaluation” page. If you used code UBZQ, I’ll contact you once your account is ready. Registration link: open an M+ Global account with code UBZQ.
Moving from a nominee account? You can transfer shares from a nominee CDS account to your new Direct CDS account in the Bursa Anywhere app. Bursa charges RM10 per counter.
Key Takeaways
- You need a CDS account (holds shares) and a trading account (places orders), usually opened together with one broker.
- You must be 18 or older; Malaysians with a MyKad can open accounts fully online by eKYC.
- Choose a direct CDS account, pick conventional or Islamic, and start with cash upfront if you are new.
- Clearing fees and stamp duty are the same everywhere; compare brokers on brokerage and minimum fees.
- If you want a remisier, add their code when you register.
Frequently Asked Questions
What is a CDS account?
A Central Depository System (CDS) account, run by Bursa Malaysia Depository, is where your listed shares are recorded. You also need a trading account with a stockbroker to place orders.
Who can open a CDS account?
Individuals aged 18 and above. Malaysians with a MyKad can open accounts fully online by eKYC; foreigners usually apply through a broker with a passport. You need a bank account in your own name.
Can I open a CDS account online?
Yes. Sign up in a broker app such as M+ Global and your CDS account is opened as part of the same sign-up, usually with no branch visit.
Should I choose a Direct CDS or a Nominee CDS account?
A Direct CDS account registers the shares in your own name, so dividends, corporate-action notices and AGM invitations come to you and you can apply for IPOs. See Direct CDS vs Nominee Account.
Can I move my shares from a nominee account to a Direct CDS account?
Yes. Use the Bursa Anywhere app to transfer shares from a nominee CDS account to a Direct CDS account. Bursa charges RM10 per counter.
How much does it cost to open a CDS account?
Opening fees are small or waived at many brokers. The ongoing cost is in trading: brokerage (which differs by broker), a 0.03% clearing fee capped at RM1,000, and stamp duty of RM1 per RM1,000 capped at RM1,000.
Is M+ Global licensed?
M+ Global is operated by Malacca Securities Sdn. Bhd., a Securities Commission-licensed Bursa Malaysia participating organisation.
Which markets can I trade with M+ Global?
Malaysia (Bursa), United States and Hong Kong.
What happens after I submit my application?
You will see a “Submitted for Evaluation” page and receive your client code and CDS account number once approved. If you registered with invitation code UBZQ, I will contact you when your account is ready.
Do I need a remisier to open an account?
No, it is optional. If you want one, enter their invitation code when you register (mine is UBZQ), because it is harder to add later.
Disclosure: Dexter Chia is a licensed dealer’s representative (DR code R336) at Malacca Securities Sdn Bhd. This article is for education only and is not investment advice. Account rules and fees change; confirm the latest details with your broker and Bursa Malaysia.
