Contra Account enables you to use Extra Trading Limit to Buy/Sell Stocks in KLSE Stock Exchange.
1. What is Cash Upfront Account?
Cash Upfront Trading works like a debit card and lets you trade with just the cash in your account.
You can use Internet Banking (Online FPX Payment) to put cash into your account.
Benefit:
- Lower Fees
- Safer to use within your limit
2. What is Contra Account (T+2)?
A Contra Account works like a credit card.
This means you have a spending cap based on the shares you want to buy, the cash you put up as collateral, and the number of shares you want to buy.
However, you still have two days to settle your transaction(s) in full.
Benefit:
- Up to 3x trading limit given (For Example, Deposit RM10,000, you will have RM 20,000 trading limit); (If you have share value worth RM 10,000 plus deposit RM10,000), your trading limit will be RM 30,000)
- Settle after 2 days
- Low Fees applies to BUY trades if used the available cash in the account
3. What is Contra Account (T+7)?
The different between T+2 and T+7 is that T+7 account only need to settle after 7 days.
Meaning that you can use the trading limit to buy a stock and hold a stock, on 8th days, you can SELL if you don’t want to pick up the share.
Benefit:
- Up to 3x trading limit given (For Example, Deposit RM10,000, you will have RM 20,000 trading limit); (If you have share value worth RM 10,000 plus deposit RM10,000), your trading limit will be RM 30,000)
- Settle after 7 days
- Low Fees applies to BUY trades if used the available cash in the account
How to Sign Up?
If you wish to sign up for Contra Account T+2, you can
1. Download M+ Global APP
2. Online Sign Up
3. Enter my Invitation Code: UBZQ
4. You will entitle my professional services listed in here.
