This guide is for M+ Online and M+ Global clients whose money has not arrived where they expected it. I handle these queries for clients every week, and the cause is almost always one of a handful of things. Here is how to work out which one applies to you.
How Money Moves In and Out of Your Trading Account
It helps to understand the flow before troubleshooting it.
A deposit moves from your personal bank account into the trust account your broker holds on your behalf. It becomes available cash for trading once it is credited.
A buy trade draws down that available cash.
A sell trade creates proceeds. However, those proceeds are not usable immediately. They become available only after settlement completes.
A withdrawal pays out from available settled cash. It cannot pay out from unsettled proceeds, even though you can see them in your account.
That last distinction causes more confusion than anything else, so it is worth covering properly.
The T+2 Rule That Explains Most Withdrawal Delays
Bursa Malaysia settles securities trades on a T+2 basis. This has been the case since April 2019. In plain terms, a trade executed today settles two market days later.
Sell on Monday: Settlement falls on Wednesday. Your proceeds become withdrawable from that point, subject to your broker’s processing.
Sell on Thursday: Settlement falls on Monday, not Saturday. Weekends do not count.
Sell before a long weekend: Public holidays do not count either. A Wednesday sale before a Thursday and Friday holiday settles the following Tuesday.
So if you sold shares yesterday and cannot withdraw the cash today, nothing is wrong. The money is simply not settled yet. Your account may show the value in your total balance while your withdrawable balance stays lower, and both figures are correct.
Why Your Deposit Has Not Appeared
If you have transferred money in and it is not showing, work through these in order.
Missing or wrong reference: Transfers usually need your trading account number as the payment reference. Without it, the payment cannot be matched to your account automatically and sits unallocated until someone reconciles it manually.
Third-party transfer: The money generally must come from a bank account in your own name. A transfer from a spouse, parent or company account will typically be rejected or held, even if the reference is correct.
Transfer rail and timing: Instant transfers usually credit quickly. IBG transfers run in batches and can take considerably longer, particularly if sent late in the day, at a weekend, or on a public holiday.
Wrong destination account: Check the account number you paid into against the one shown in your platform. Broker trust account details are not something to type from memory.
Why Your Withdrawal Is Taking Longer Than Expected
Unsettled funds: See the T+2 section above. This is the most common cause by a wide margin.
Bank detail mismatch: The name on your receiving bank account must match your trading account records. If you have changed banks or your name has changed, update your details first. Our guide on changing bank details in your M+ account covers the process.
Requested after the daily cut-off: Withdrawal requests submitted after the cut-off are processed on the next business day. If you requested it late on a Friday, expect movement on Monday.
Available versus total balance: Your total account value includes the market value of shares you hold. That is not cash. Only the available cash balance can be withdrawn.
Currency Issues on M+ Global
M+ Global adds a layer that trips up investors moving between markets.
If you have been trading US stocks through M+ Global, your proceeds sit in USD. Withdrawing to a Malaysian bank account means converting to MYR first. That conversion is a separate step, and the rate applied is the rate at the time of conversion, not the rate on the day you sold.
So if your USD balance looks correct but nothing has reached your bank, check whether the conversion step has actually been completed.
Check Your Statement Before You Escalate
Your Cash Movement Statement records every ringgit in and out, with dates. Before contacting anyone, open it and confirm what the account actually shows. Our guide on reading your M+ client statement walks through it line by line.
Nine times out of ten the statement answers the question by itself. It shows either that the money never arrived, or that it arrived and went somewhere you had forgotten about.
What to Have Ready When You Contact Your Dealer
If you still need help, having these to hand turns a multi-day back-and-forth into a single message.
- The exact date and amount of the transaction
- The bank reference or transaction ID from your banking app
- A screenshot of the transfer confirmation
- Your trading account number
- Which platform it relates to, M+ Online or M+ Global
Also make sure your contact details on file are current, otherwise notifications may be going somewhere you are not checking. See updating your phone number and email if you are unsure.
Key Takeaways
- Sale proceeds are not withdrawable until settlement completes, two market days after the trade.
- Weekends and public holidays do not count towards the T+2 window.
- Deposits need your account number as the payment reference to match automatically.
- Money must generally come from, and go back to, an account in your own name.
- Total account value is not the same as withdrawable cash.
- On M+ Global, USD proceeds need converting before they can reach a Malaysian bank account.
Most of these situations resolve themselves once you know which rule is in play. If you have checked your statement and something still does not add up, send me the details and I will trace it. I’m Dexter Chia, remisier at Malacca Securities Sdn Bhd. You can reach me on WhatsApp at +60169059789 or use my M+ Global invitation code UBZQ to open an account.
Need Help With This?
If you are an M+ Online or M+ Global client and a deposit or withdrawal has not gone through, message me directly — I trace these for clients every week.
WhatsApp: +60169059789 | M+ Global Invitation Code: UBZQ
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
Want to invest in Bursa Malaysia or US markets? Contact Dexter Chia, an AI Driven Remisier who has 2,200+ clients at Malacca Securities Sdn Bhd (M+ Online / M+ Global). M+ Global Invitation Code: UBZQ | WhatsApp: +60169059789 | Why Choose Dexter?