Cash Upfront by ecmmoney.com | Lowest Brokerage Fee 0.05%
Are Looking for Opportunities in Stocks via Online Trading?
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Which Broker Offer the Lowest and Cheapest Brokerage Rate Now?
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ECM Libra Investment Bank Berhad has rolled out the latest online trading portal called ecmmoney.com, hoping to reach more retail investors across the country through the Internet.
ecmmoney.com is an online trading website that enables you to buy and sell Bursa Malaysia shares on the website without engaging the services of a remisier.
It also acts as a trading portal that comes with one-stop local and international financial news hub.
You will get streaming breaking news and market commentaries from prominent sources whenever you want.
Get exclusive access to Dow Jones breaking news alerts plus market talks from leading industry experts so that you always have an edge in any situation.
As such, you will not miss out important trading signals and investment opportunities.
Now ECM Libra Investment Bank Berhad run a promotion on brokerage rate.
Cash Upfront
Normal Brokerage rate is at 0.08% per contract or RM12 minimum brokerage.
If you sign up today, you will enjoy 0.05% brokerage fee per contract or RM8 minimum brokerage.
**This promotion runs until 31 August 2010.
** You need to deposit Cash Upfront before trading
Product Features
- Brokerage fee 0.08% per contract or minimum brokerage RM12, whichever is higher
- Trading limit 1x on cash collateral
- No minimum deposit requirement
- Interest bearing for trust account with more than RM1,000
- Auto settlement T+3 for domestic equities trades; force selling on T+4
If your ecmmoney.com account has a minimum available balance of RM1,000.00 at the end of the trading day then your account will earn interest.
The interest will be calculated on a daily basis and credited directly to your ecmmoney.com account at the end of every month.
The present interest rate is based on the money market rate minus 0.5%. This rate may be subject to change from time to time.
How do I top up your ecmmoney.com account?
Top ups can be done either by cash or cheque payments to the banks stated below. Cheque payments are to be made payable to “ECM Libra Investment Bank Berhad”.
Top-ups by cheque will have to be cleared and credited to your account before being considered as available funds.
Only cash payments made at ECM Libra payment counters will be credited immediately into your ecmmoney.com account.
Top Ups can be made to the following ecmmoney.com collection accounts:-
CIMB Account number: 1414-0032894-05-6
Menara Olympia
Jalan Raja Chulan
Kuala Lumpur
Maybank Account Number: 5-14356-7-1033-1
Ground Floor, Wisma Genting
Jalan Sultan Ismail
50250 Kuala Lumpur
The Fees & Charges
It seem the Trading Account is in Nominees type. Therefore any dividend received or any Corporate Exercise like Right Issue, General Offer etc, a fee would be imposed.
This not Good for Small Investor as you can done all these on your own. If possible Open a Direct CDS account.
I am not sure whether ecmmoney.com offer a Direct CDS account in order to enjoy this promotion.
Using Internet is the faster way to expand, and cheaper compared to setting up of branches in various locations to cover the market. Therefore most of the Cost saving can be pass directly to customer.
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ECM Libra Investment Bank launches portal
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KUALA LUMPUR: ECM Libra Investment Bank’s portal, ecmmoney.com, which was launched yesterday, aims to make online investment easy for retail and professional traders.
Its chief operating officer Martin Chu said the investment banking group recorded a retail volume of RM15bil last year, of which about 18% was from Internet users.
“Currently, we have about 10,000 active investors,” he told reporters after the portal’s launch.
Chu, however, declined to make a forecast for this year.
He said ecmmoney.com would offer a smart way to trade online. “We believe the unique features of the four investment products, namely cash upfront, collateralised, DayTrading88 and Premier88, will enable investors to quickly react to opportunities in the stock market,” he said.
He said the portal charged a brokerage fee of 0.05%, or a minimum fee of RM8 per contract, during the promotional period. “The offer is valid from now till end-August. “After that, it will be 0.08%, or RM12 per contract,” he said.
Chu said that for the DayTrading88, investors would pay a brokerage fee only when profits were made per stock during the day. “With the fully-automated trading process, investors will have more control over their transactions,” he said.
fr:biz.thestar.com.my/news/story.asp?file=/2010/2/26/business/5751180&sec=business
We do offer Direct CDS account type as well. Please either call in to our contact center via 1-300-228-100 to enquire, leave a message via our website or visit our nearest branch (http://www.ecmlibra.com/OurOffice.asp)
Thank you for the nicely written post.
~The ecmmoney team~
Good!
I’ll open one Trading Account soon 😀
The nearest branch is the Damansara Height branch, just opposite my office lol. But I see construction going on there, not sure whether it’s open for business.
I think the KL branch is at Wisma Genting
Hi Simon
The Damansara Branch is under renovation, office is still open for business. You many enquire/submit forms via that branch
Bokerages adopt multi-level way to boost retail participation
By EDY SARIF
PETALING JAYA: Several bank-backed brokerages are adopting a multi-level approach to enhance retail participation in the local stock market.
“These measures include introducing new products that are suitable for retail investors and traders, enhancing our online shares and futures trading platforms, conducting seminars and workshops, opening new branches as well as recruiting remisiers and relationship officers to reach out to more retail clients,” said CIMB Group corporate and investment banking deputy chief executive officer Datuk Charon Wardini Mokhzani.
MIMB Investment Bank noted that retail participation had declined from a market share of 28% in January to a recent low of 18% in June, subsequently recovering to 20% in July.
“Compared to the 38% market share it used to command, we certainly think the retail sector can do better. In view of this, Bursa Malaysia and industry players have rallied together to enhance participation through awareness programmes such as ‘Rethink Retail’ and ‘Bursa Chat’ 2010/2011 nationwide road shows,” said MIMB’s head of dealing Andrew Yaw.
Despite new products and services being introduced into the local stockbroking market, retail participation has not caught up.
The recent economic slowdown has created a “fear syndrome” among the retailers who instead prefer much safer investments such as in fixed deposits and bonds.
Charon said more could be done to increase retail participation in the stock market.
“So far, the participation of retail investors has been dependent on two key factors – performance of major world stock markets as well as investors’ confidence in the local bourse and performance of the companies listed,” he told StarBiz in an e-mail reply.
Online trading and Islamic broking are among the new avenues for retailers.
Retail online broking services cater to a new breed of participants who prefer to execute their own trades rather than rely on intermediaries such as remisiers or retail dealers.
“With online broking services, participants are empowered to trade shares at their finger tips using real-time trading portals. The EQTrade service offered by the bank equipped users with live share price information, market news, order flow updates and trading tools for them to effectively manage their portfolio online,” Yaw said.
“The latest statistics show that 18% to 20% of total retail transactions were performed through online broking which was growing at a healthy pace,” he added.
Banking on its HOT (Honest, Open and Transparent) Islamic stockbroking service, Maybank Investment Bank Bhd hopes to achieve a higher market share compared with the 6.5% it currently controls.
According to CEO Tengku Datuk Zafrul Aziz, following the success of the HOT service, the investment bank planned to penetrate the Indonesian and Singapore stockbroking markets by the middle of next year.
“This is the first step for us before entering other regional markets. We plan to introduce Islamic broking to the Singapore and Indonesian markets as we believe both countries have great potentials for Islamic broking,” he said.
“Through Islamic stockbroking, investors have access to a selection of stocks that have been stringently analysed according to syariah principles, approved by the Syariah Advisory Council of the Securities Commission and governed by Maybank’s panel of syariah advisers,’’ Zafrul said.
Islamic stockbroking was first introduced to provide an alternative, particularly to the Muslim community to perform share transactions in a syariah-compliant manner.
“It is only in recent years that we see Islamic stockbroking windows being established by financial groups. Currently, there are only five institutions (including CIMB Securities) that provide this facility,” Charon said, adding that the Islamic banking industry had been growing rapidly over the last eight to ten years.
“We are seeing more participants in the industry, with increased interest in Islamic finance as an alternative to conventional banking solutions. Non-traditional Islamic markets, especially mature markets like the United States, Britain, Singapore and Hong Kong, are all in various stages of developing the Islamic finance industry,” Charon said.
However, Yaw said the lack of practitioners, education and awareness was hampering the growth of this segment of the stockbroking industry.
“Many prefer not to participate in the stock market because they believe they will lose money, and therefore, prefer to invest in what they believe to be safe havens, for instance, fixed deposits.
“However, many fail to realise that their fixed deposit savings may be eroded by inflation. If investors are educated on the risk parameters, they will learn to better manage their risks to achieve a higher rate of return,” Charon said.
fr:biz.thestar.com.my/news/story.asp?file=/2010/9/6/business/6946762&sec=business