M+ Global replaced the older M+ Online app, which was discontinued on 31 October 2025, so it is now the main platform for Malacca Securities clients. This review covers what the app offers, what it costs, and who it suits and doesn’t suit.
Who runs M+ Global?
M+ Global is operated by Malacca Securities Sdn Bhd, a stockbroking firm that is a Participating Organisation of Bursa Malaysia and is licensed by the Securities Commission Malaysia. Your Bursa shares are held in a CDS account in your name when you open a direct CDS account.
M+ Global fees (2026)
| Market | Brokerage (from) | Minimum per trade |
|---|---|---|
| Bursa Malaysia | 0.05% | RM8 |
| United States | 0.10% | USD3 |
| Hong Kong | 0.10% | HKD18 |
These are the published “as low as” rates on mplusonline.com; check the pricing page for your account type. On top of brokerage, every Bursa trade pays the standard clearing fee (0.03%, capped at RM1,000) and stamp duty (RM1 per RM1,000, capped at RM1,000), which are the same at every broker. From 1 October 2025, 8% SST may apply to brokerage and clearing fees on some instruments such as ETFs, REITs and warrants.
What the minimum fee means in practice
- RM5,000 Bursa trade: 0.05% is RM2.50, so the RM8 minimum applies.
- RM16,000 trade: 0.05% is exactly RM8, the break-even point.
- RM50,000 trade: 0.05% is RM25.
If you often buy a few hundred or a few thousand ringgit at a time, brokers with lower minimums or flat tiers can be cheaper. If your typical trade is above roughly RM16,000, a 0.05% rate is competitive. Compare other brokers in our broker fee comparison.
Key features
Three markets in one app
You can trade Bursa Malaysia, thousands of US stocks and Hong Kong stocks, plus ETFs, REITs and warrants, and in Hong Kong also CBBCs. Hong Kong stocks come with 10-level market depth; US quotes are Level 1.
IPOs: Bursa, US and Hong Kong
You can subscribe to Bursa IPOs in the app (Trade > Bursa > IPO). For selected IPOs, IPO financing lets you apply for more than your cash by paying part of the amount, with interest charged on the financed portion. M+ Global also offers US IPO subscriptions (from USD5,000 per application) and Hong Kong IPOs with cash or margin financing.
Conditional orders
You can set a trigger price in advance so the app automatically sends a buy or sell order when the stock reaches it, for example to buy on a breakout, take profit or cut losses.
Shariah screening
US and Hong Kong stocks are screened for Shariah compliance in the app, and Islamic trading accounts are available. See Shariah-compliant investing with M+ Global.
Desktop version and account self-service
A Windows and macOS desktop version is available for charting and trading on a larger screen. In the app you can update your address, phone, email, income and employment details through eKYC, and log in with multi-factor authentication.
Pros and cons
| Pros | Cons |
|---|---|
| Bursa, US and Hong Kong in one account | RM8 minimum makes small Bursa trades relatively expensive |
| Low percentage rate on larger trades | US minimum (USD3) is higher than some US-focused apps |
| Bursa, US and Hong Kong IPO access, with IPO financing | IPO financing and margin add interest costs and risk |
| Conditional orders and Shariah screening | US market data is Level 1 only |
| Direct CDS account and optional remisier support | Many features take time to learn for complete beginners |
Who is M+ Global best for?
It suits investors who want Bursa and foreign markets in one place, apply for IPOs regularly, or trade in amounts where a 0.05% rate beats flat fees. Very small, infrequent buyers may pay less elsewhere. If you want a walkthrough of each screen, see How to Use the M+ Global App.
How to open an account
Download M+ Global from the App Store, Google Play or Huawei AppGallery, tap Open Account, register with your phone number and complete eKYC with your MyKad. A CDS account is opened as part of the process. Full steps are in How to Open a CDS and Trading Account in Malaysia.
Key Takeaways
- M+ Global is Malacca Securities’ app for Bursa, US and Hong Kong stocks and has replaced M+ Online.
- Bursa brokerage from 0.05% with a RM8 minimum; US and Hong Kong from 0.10%.
- Strongest for IPO investors (Bursa, US and Hong Kong IPOs, IPO financing) and multi-market traders.
- For very small trades, the minimum fee matters more than the percentage.
Disclosure: Dexter Chia is a licensed dealer’s representative (DR code R336) at Malacca Securities Sdn Bhd, which operates M+ Global. This review is for education only and is not investment advice. Fees and features change; check mplusonline.com for the latest details.
