MY Stock Trading Transaction Fees: Complete Fee Breakdown for M+ Global Accounts
Who This Guide Is For
If you’re a Malaysian retail investor trading on the Bursa Malaysia through M+ Global (Malacca Securities), you need to understand exactly what fees you’ll pay on every trade. This guide breaks down the complete fee structure across all three account types so you can compare costs and plan your trading strategy accordingly.
M+ Global Account Types and Their Fee Structures
M+ Global offers three main account types for Malaysian stock trading, and each has its own fee schedule. Your account type determines how much brokerage you’ll pay on buy and sell orders.
The Three Account Types
- Cash Upfront Account — You must have full cash in your account before trading
- Collateralised Account — You can use margin or collateral to trade beyond your available cash
- T+7 Account — A settlement account with a 7-day payment window
Complete Fee Table: All Account Types
|
ACCOUNT FEATURES |
CASH UPFRONT ACCOUNT |
COLLATERALISED ACCOUNT |
T+7 ACCOUNT |
|
Offline Brokerage Rate |
|||
|
≤ RM100,000 > RM100,000 |
0.60% 0.30% |
0.60% 0.30% |
0.60% 0.30% |
|
Minimum |
RM40 |
RM40 |
RM40 |
|
Intra Day |
0.15% |
0.15% |
0.15% |
|
Online Brokerage Rate |
|||
|
≤ RM50,000 > RM50,000 |
0.08% 0.05% |
0.30% 0.20% |
0.30% 0.25% |
|
Flexi Brokerage Rate |
|||
|
≤ RM50,000 > RM50,000 |
— |
0.08% 0.05% Remark: Only applicable for purchased value within available cash. |
|
|
Minimum |
RM8 |
RM10 |
RM10 |
|
Intra Day |
0.05% |
0.10% |
0.10% |
|
Clearing Fees |
0.03% |
0.03% |
0.03% |
|
Stamp Duty Shares or stocks: RM1.00 for every RM1,000.00 contract value, maximum RM1,000.00. Marketable securities: RM1.00 for every RM1,000.00 contract value, maximum RM200.00. |
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Understanding Each Fee Component
1. Brokerage Charges
This is the main fee you pay M+ Global for executing your trade. The rate depends on your account type, how you place the order (online or offline), and the transaction size. Larger trades above RM50,000 or RM100,000 may qualify for reduced rates.
2. Clearing Fees
All trades incur a 0.03% clearing fee, regardless of account type. This fee goes to the clearing house for settlement. There’s a maximum charge of RM1,000 per transaction.
3. Stamp Duty
The government charges RM1.00 per RM1,000 of contract value for share purchases. The maximum stamp duty on shares is RM1,000. For other marketable securities, the maximum is RM200. You only pay stamp duty on purchases, not sales.
Remisier tip: When comparing account types, factor in all three costs together—brokerage, clearing fees, and stamp duty. The cheapest brokerage rate isn’t always the best deal if other fees add up.
Offline vs Online: What’s the Difference?
Online trades (placed through the M+ Global app or web platform) have lower brokerage rates than offline trades (placed via phone or in person). Online rates are significantly cheaper—0.08% on a Cash Upfront account versus 0.60% offline. If you’re comfortable using the app, online trading will save you money on every transaction.
Intra-Day Trading Rates
If you buy and sell the same stock on the same day, you pay a reduced brokerage rate. On a Cash Upfront account, intra-day brokerage is 0.05% online or 0.15% offline. This applies only to same-day buy-and-sell transactions.
Key Takeaways
- Cash Upfront online trading is cheapest: Just 0.08% brokerage for trades under RM50,000, reducing to 0.05% above that amount
- Collateralised and T+7 accounts cost more: Online rates start at 0.30%, but you get more trading flexibility with margin
- Offline trading is expensive: 0.60% brokerage on smaller trades; only use it if you can’t access the app
- All accounts pay the same clearing fees and stamp duty: 0.03% clearing plus RM1 per RM1,000 stamp duty on purchases
- Flexi Brokerage is a middle option: Available on Collateralised and T+7 accounts at 0.08% (or 0.05% above RM50,000) when you use only available cash
- Intra-day trading is cheaper: Same-day buy-and-sell trades have lower brokerage rates to encourage short-term activity
Frequently Asked Questions
What’s the cheapest way to trade on M+ Global?
Online trading on a Cash Upfront account at 0.08% brokerage (for trades under RM50,000) is the cheapest option. You’ll also pay 0.03% clearing fees and stamp duty, but this combination gives you the lowest overall cost per trade.
Do I pay stamp duty on sales?
No. Stamp duty applies only to share purchases, not to sales. You’ll pay it once when you buy, at RM1.00 per RM1,000 of contract value (maximum RM1,000).
Why is my Collateralised account more expensive than Cash Upfront?
Collateralised accounts allow you to trade with borrowed money (margin), which carries more risk for the broker. M+ Global charges higher brokerage rates (0.30% online instead of 0.08%) to reflect that additional credit risk.
Can I negotiate the brokerage rate?
The rates in this guide are the standard M+ Global rates. For specific questions about your account or potential discounts, contact your remisier directly.
What happens if my trade is very small?
There’s a minimum brokerage charge. On Cash Upfront accounts, the minimum is RM8 online or RM40 offline. On Collateralised and T+7 accounts, it’s RM10 online. Even if your calculated fee is lower, you’ll pay at least the minimum.
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Source: based on the official M+ Global Help Centre (Malacca Securities Sdn Bhd). Fees, hours and procedures are set by Malacca Securities and the exchanges and may change — check the M+ Global app or ask your remisier for the latest.
Disclaimer: This guide is for general information only and is not financial advice.
