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Regulated by
Suruhanjaya Sekurity Bank Negara Malaysia
Regulated by
Suruhanjaya Sekurity Bank Negara Malaysia

Frequently Asked Questions.

Getting Started
Is the application free?

Yes, of course! Our mobile application is free to download for both iOS and Android platforms. 

Can I try your application without creating an account?

Yes, you can explore the app’s full functionalities via the mobile app.

 

How do I create an account?

Creating an account with us is easy. Just follow the following few steps and your account will be ready within 15 minutes! This is, however, subject to complete submission of all required documents. 

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overview creating an account
What documents do I need to open an account?

You only need your identity card e.g. MyKad, MyPolis or MyTentera to open an account with us. 

How do I log in and start trading?

Step 1: Open the mobile app 

Step 2: Click Log in 

Step 3: Enter using Face ID, Touch ID or password, the app will direct you to your Dashboard. 

Step 4: Click the ‘Trade’ button on the Dashboard 

My Account & Login
What is the requirement to create an account with MIDF Invest?
  1. Have a Malaysian citizen IC
  2. Be 18 years or above
  3. Have a Malaysian bank account
  4. Have a mobile device
Can a non-Malaysia resident (foreigner) open an account?

The app is currently not open to non-Malaysia residents. 

Can I open an account if I am yet to earn any income?

Yes, you can. Generally, all Malaysians that are above 18 years old can open a trading account with us. 

Is there a minimum deposit that I need to put in to open a trading account?

There is no minimum deposit requirement to open a trading account with us. We will only request for a RM1 refundable deposit for the purpose of verifying your bank account.

How long does it take for me to create an account with MIDF Invest?

Account creation is 100% online, and it will take approximately 15 minutes to process your registration. However, some users might be subject to manual review, in this case our Happiness Agents will reach out to you to request for additional documents to be submitted. Therefore, we recommend for you to submit additional documents promptly, for a fast account registration. 

I’ve forgotten my password. What do I do?

Once you click ‘Log In’, on the login page click ‘Forgot your password’ and follow the instructions to reset your own password. You can also change your password under the ‘Settings’ page.  

Do I need to open another CDS account with MIDF Invest?

CDS stands for Central Depository System and acts as a means of representing ownership and movement of securities. When you sign up with us, you don’t need to open a CDS account as all trades that go through us will be aggregated and executed through a nominee account of the appointed broker.  Although all trades from all our customers are aggregated, our system will be able to assign and tag the individual trade to the respective individual Customers.

Can I start trading immediately after I’ve completed my registration?

Upon registration you will need to deposit funds from your verified bank account into your RM cash account and convert to USD to begin investing. This process will only take a couple of minutes.

How do I know if my account has been successfully created?

You will know your account has been registered, when you have successfully verified your bank account and completed the RM 1 refundable deposit.

Can I open an account during the weekend/public holiday?

Yes, you can. The account activation will be processed on the weekend, as like any working day.

What does it mean when my account registration status shows “Your Profile is Under Review”?

This could mean one of the items below: 

  • Identification card image is not clear 

  • Further information/documents required to verify your personal details 

  • Submitted information/documents are incomplete 

Should you need more help, please reach out directly to our Happiness Agents through one of the following channels. 

  1. Chat box in the app: Use the Chat Box in the app or web portal  
  2. Email: Send email at hello.midfinvest@midf.com.my 

 

It has been more than 24 hours since I applied. When can I expect a response?

This could happen for several reasons. Most of the time it is because our Happiness Agent has yet to receive the required additional documents from you. To quickly resolve this, please reach out directly to our Happiness Agents through one of the following channels: 

  1. Chat box in the app: Use the Chat Box in the app or web portal  
  2. Email: Send email at hello.midfinvest@midf.com.my
Can I have both the conventional and Islamic accounts?

At the moment, you can only have one type of account at any given time.  

Can I switch from my conventional account to an Islamic account?

Currently, you cannot switch your account from conventional to Islamic or vice versa. 

Can I open a joint account?

This option is currently not available. 

Do I need to provide documents for proof of change of address?

No, we don’t require proof of change if you would like to use a different correspondence (mailing) or residential address. You can put in the new address on your own under the Profile Setting.

What personal details can I change online?

You can change the following details on the mobile app and web portal: 

  • Correspondence address 

  • Residential address 

  • Email address - requires simple security/ verification process 

  • Mobile number - requires simple security/ verification process 

  • Marital status 

  • Employment status 

  • Your spouse or next of kin’s details 

  • Registered bank accounts 

  • Registered devices

Funding & Withdrawals
How long will it take for any transfer of cash from my bank account to be reflected in my RM Cash Account?

Any transfers from your registered bank account to your RM Cash Account with us will be reflected immediately.  

If you are not able to see the cash immediately in your RM Cash Account, please reach out directly to our Happiness Agents through one of the following channels so that we could help you to resolve the issue as soon as possible: 

  1. Chat box in the app: Use the Chat Box in the app or web portal  
  2. Email: Send email at hello.midfinvest@midf.com.my 
Can I transfer cash between my RM and USD cash accounts?

Yes, you can.  

Step 1: Go to RM/USD Cash Account 

Step 2: Click Transfer  

Step 3: Click “Transfer between cash accounts 

Step 4: Key in the account you wish to transfer from 

Step 5: Key in the account you wish to transfer to 

Step 6: Key in amount 

Step 7: Click Confirm 

The transfer of funds should be reflected in your accounts immediately. Should you need more help, please reach out directly to our Happiness Agents through one of the following channels. 

  1. Chat box in the app: Use the Chat Box in the app or web portal  
  2. Email: Send email at hello.midfinvest@midf.com.my
How much can I fund from my bank account?

Our app allows you to directly add cash from your bank accounts into your cash accounts with us, subject to limits set by FPX i.e., RM30,000 per transaction. The maximum number of transactions per day differ from one bank to another.

How do I withdraw cash from my cash accounts into my bank account?

You can withdraw cash from your RM or USD Cash Accounts with us with the following few steps: 

Step 1: Go to RM/USD Cash Account 

Step 2: Click Withdrawal 

Step 3: Select Bank Account to withdraw to 

Step 4: Key in amount in RM/USD 

Step 5: Click Confirm 

Is there a cut-off time for withdrawals from my RM Cash Accounts or USD Cash Account?

You can withdraw anytime during the day and the amount will be credited into your bank account within the next 2 business days.

Can I request for a withdrawal to a third party’s account?

No, you can only request for withdrawals into one of the registered bank accounts with us. This is done for security purposes.

When will my sales proceeds be available for cash withdrawal?

Settlement is two business days after the sale transaction (T+2) and will be automatically credited into your USD Cash Accounts. 

Investing
What is the New York Exchange (NYSE) and Nasdaq's (NDAQ) trading hours?

You can trade U.S listed shares based on the trading hours:

Nasdaq:

Pre-market    : 7.00 am to 9.30am Eastern Time Zone

Opens           : 9.30am Eastern Time Zone

Closes           : 4.00pm Eastern Time Zone

NYSE:

Pre-market    : 7.00 am to 9.30 am Eastern Time Zone

Opens           : 9.30 am Eastern Time Zone

Closes:          : 4.00pm Eastern Time Zone

Holiday calendar for NYSE : https://www.nyse.com/markets/hours-calendars

Holiday calendar for Nasdaq : https://www.nasdaq.com/nasdaq-2020-holiday-hours-trading-schedule

When can I submit orders for the New York Stock Exchange and Nasdaq?

You can either que your order during the non-trading hours or trade during the trading hours of NYSE and Nasdaq.

During non-trading hours

Even though the U.S. market is not open, you can still queue to order for your choice of stocks, the indicative pricing can be found in the product overview screen where you can use the last traded price i.e., the previous day closing price as the indicative pricing for your order. However, you will not be able to see the market depth - bid and ask - since there are no market activities by the brokers yet.

During pre-market period and trading hours

Orders can be submitted during the pre-market period and throughout the NYSE and Nasdaq’s trading hours. Please note that Customers are also able to participate during the pre-market period but only for limit orders (order to buy or sell a stock at a specific price or better).

Nasdaq:

Pre-market    : 7.00 am to 9.30am Eastern Time Zone (only for limited orders)

Opens           : 9.30am Eastern Time Zone

Closes           : 4.00pm Eastern Time Zone

NYSE:

Pre-market    : 7.00 am to 9.30 am Eastern Time Zone (only for limited orders)

Opens           : 9.30 am Eastern Time Zone

Closes:          : 4.00pm Eastern Time Zone

What currency do I use to trade in U.S.-listed shares?

Trading will be done in USD.

Where can I find the USD:RM foreign currency exchange rates used when transferring cash from my RM Cash Account into USD Cash Account?

The exchange rates will be published on your Dashboard and will be communicated to you on the transaction page upon your request for the transfer.

What is the minimum/maximum number of shares that I can place per order?

Depending on the trading conditions applicable to each individual share. This trading condition for US-listed securities vary from one security to another as they can be based on the quantity of units or minimum investment amount. In most cases, a minimum USD50.00 is applicable for each purchase or sale.

How long are my orders valid?

There are two types of orders:

i.  Day Orders – these are only valid for the trading day

ii.  Good till Date (GTD) Orders – these will be carried forward continuously each trading day until the expiry date selected or upon order execution whichever is the earliest. 

Can I amend my order?

You can modify/cancel orders that are still pending by going to the Orders page.

Find your order and click ‘Modify’ or ‘Cancel’ on the far right.

How do I know my orders have been matched?

The order status will be shown next to the stock as ‘Filled’.

How can I create/edit a stock watchlist?

Yes, you can create your own stock watchlist easily in the app by following a few simple steps:

Step 1  : Go to Dashboard

Step 2 : Left click on the arrow icon

Step 3 : Left click on New List

Step 4 : Rename watchlist and click create

 

To add different stocks to your watchlist, you can do so by:

Step 1  : Typing in the stock you want in the 'Add Instrument' box

Step 2 : Left click on the arrow icon in the 'Add Instrument' box to add stocks by region

Step 3 : Right click on an existing stock in another watchlist, click on 'Add to watchlist' and click on the     watchlist  you want to add it to

Can I view my trading history via the mobile app?

Yes, you can do this by following few simple steps:

Step 1  : Go to Dashboard

Step 2: Click the ‘Trade’ button

Step 3: Click the ‘Order’ tab at the top of the screen

Step 4: Click ‘Transaction History’

Are the shares and ETFs price shown on the app on a real time basis?

Prices shown have a delay of 15 minutes. However, your orders will be executed based on real time market price of the shares.

Where can I view my contract notes?

You can do this by following a few simple steps:

Step 1: Go to Dashboard

Step 2: Log in

Step 3: More > Contract Notes

Step 4: Click Contract Notes to view and download list and details of completed transactions for the past 90 days.

If you just want to view your transaction history, select transaction filter from ‘My last 7 days’ transactions’ card.

What is the difference between Cash Balance, Float Amount and Available Balance?

Available Balance/ Trading Limit

The amount available for purchase of shares or for withdrawal into your registered bank account.

Float Amount

The traded amount used to buy a stock which is yet to be settled. The Float Amount will be deducted from your Cash Account balance the following day.

Cash Account Balance

Cash Account Balance = Float Amount + Available Balance.

My order was successful, but my total Cash Balance and Available Cash Balance/ Trading Limit on the Dashboard was not adjusted. When can I see the adjustment?

The adjustment to the total Cash Balance will be reflected upon settlement of your trade typically within the following business day. However, your Available Cash Balance/ Trading Limit will already take into account the trades that are still pending settlement.

Can I vote as a Shareholders / Proxy Voting?

We currently do not provide our Customer the ability to vote or appoint a proxy to vote remotely in shareholder meetings for the companies you own.

What is Bank Negara Malaysia Foreign Exchange Administration Rulings (BNM FEA)?

If you have more than 1 housing loan, more than 1 car loan or has any personal loan or an overdraft facility, you can invest up to RM1 million per calendar year in foreign currency assets including purchase of U.S.-listed shares through our app.

Will any income I made from my investment be taxed by LHDN?

With effect from 2004, income derived from sources outside Malaysia and received in Malaysia by any person is NOT subject to Malaysian income tax. This includes capital gain and dividend received from your investments in stocks through our platform.

Can I place an order in the U.S. market even though the U.S. market is closed?

Even though the U.S. market is not open, you can still queue to order for your choice of stocks, the indicative pricing can be found in the product overview screen where you can use the last traded price i.e., the previous day closing price as the indicative pricing for your order. However, you will not be able to see the market depth - bid and ask - since there are no market activities by the brokers yet.

Do I get taxed for the dividend?

Yes, as a non-U. S resident, you will be subjected to a 30% withholding tax rate for dividends received from U.S. listed shares that you own. Any dividends received in your bank account or cash accounts with us will already be net of the withholding tax as our tax agent will facilitate the deduction prior to crediting the dividends into your account.

How do I get paid for my dividend?

All dividend payments received will be credited directly into your USD Cash Account, within 5 business days from the dividend payment date.

For instance, if you own 1,000 units of Apple shares and Apple Inc. declares a dividend of US0.60 per share, the net amount of dividend that you will receive is USD480 i.e., USD600 minus 30% of withholding tax amount of USD180. On the Payment Date, we will credit USD480 into your USD Cash Account.

How to enable Trading Products on the Platform?

You can control which Trading Products you would like to view and trade in the platform.

Go to  > Settings > Trading Products

Select the products you would like to enable and click Apply.

For now, we are only offering Equities.

Is there a trading limit?

Yes, there are two factors that will determine your trading limit.

1) Cash balance in your USD Cash Account and

2) Allowable amount as per the Bank Negara Malaysia Foreign Exchange Administration (“BNM FEA”) rules.

Your trading limit would be equivalent to the balance in your USD Cash Account unless you have a Ringgit borrowing or financing as per the Bank Negara Malaysia Foreign Exchange Administration (“BNM FEA”) rules.

Malaysians with a Ringgit borrowing or financing could invest up to RM1 million per calendar year in foreign currency assets including purchase of U.S.-listed stocks. For instance, if you already invested RM100,000 worth of U.S. stocks and RM600,000 worth of foreign properties in a particular calendar year, your trading limit with us would be RM300,000 during that calendar year even though your USD Cash Account Balance is more than RM300,000.  

For more information on the BNM FEA, please refer here.

How can I increase my trading limit?

Your trading limit is equivalent to how much you have in your USD Cash Account. For this reason, you can increase your trading limit by adding more funds into your USD Cash Account in accordance with the amount you plan to trade on our platform.

Please also note that the Bank Negara Malaysia Foreign Exchange Administration rulings provided that Malaysians with a Ringgit borrowing, or financing can invest up to RM1 million per calendar year in foreign currency assets including purchase of U.S.-listed stocks.

How do I know if my order went through?

To ensure if your order went through you can access the information through your contract notes or portfolio position on the trading section.

To access contract notes:

Step 1: Go to Dashboard

Step 2: From the bottom tabs, Click ‘More’

Step 3: Click ‘Contract Notes’

To view the trading section, click the ‘Trade’ button and from the trading screen, click Position. You can see all your current stocks holding there.

I did not receive my contract notes, when will they be sent to me?

Contract notes will be emailed to you and will be accessible in the app a day after order has been made.

Documents & Taxes
Do I have to pay the U.S. withholding tax for my U.S. investments?

As a non-U. S> resident, you will be subject to a 30% withholding tax rate for dividends received from U.S.- listed shares that you own. Any dividends received in your bank account or cash accounts with us will already be net of the withholding tax as our tax agent will facilitate the deduction prior to crediting the dividends into your account. There will be no withholding tax charged for capital gains you made on the U.S. investments.

We are currently working toward enabling our Customer to enjoy a lower withholding tax rate through submission of W8-BEN Form in order to obtain the W8-BEN certificate from the U.S. Inland Revenue Service office.

How much stamp duty do I have to pay for every transaction?

The applicable rate for stamp duty is RM1 per RM1,000 of investment amount, to a maximum of RM200. For USD-denominated transactions, the stamp duty will be calculated based on the investment amount’s equivalent value in Ringgit Malaysia.

The stamp duty legally binds all the contract notes every time you transact with us, both for Malaysia and U.S. investments. The amount is determined by and payable to the Lembaga Hasil Dalam Negeri (LHDN).

What is W8- BEN?

W8-BEN Form is a form where a non-U.S. resident fill-up to obtain Certificate of Foreign Status of Beneficial Owner for U.S. Tax Withholding. This certificate is used by non-U.S. residents to establish both foreign status and beneficial ownership, and to claim income tax treaty benefits between Malaysia and the U.S. with respect to income received from dividends (amongst other various types of income from U.S. sources).

We are currently working toward enabling our Customer to enjoy a lower withholding tax rate through submission of W8-BEN Form in order to obtain the W8-BEN certificate from the U.S. Inland Revenue Service office.

What are the taxes that I need to pay for my investments?

 

        U.S. Investments

Stamp Duty

(Payable to Malaysia Inland Revenue Board)

RM1 per RM1,000 of investment amount (or equivalent investment amount in RM), to a maximum of RM200

Withholding Tax

(Payable to the U.S. Inland Revenue Services)

30% of dividend amount received

What are Common Reporting Standards (CRS)?

CRS is a global standard for automatic exchange of information on financial account information between the governments in order to combat offshore tax evasion and protect the integrity of taxation systems.

Malaysia is amongst more than 100 countries or jurisdictions that have committed to CRS. The full list of the countries or jurisdictions committed to CRS can be found via https://www.oecd.org/tax/transparency/AEOI-commitments.pdf

More information on CRS can also be found on Lembaga Hasil Dalam Negeri’s website: http://www.hasil.gov.my/bt_goindex.php?bt_kump=6&bt_skum=2&bt_posi=1&bt_unit=2&bt_sequ=1&bt_lgv=2

Are all Malaysians being considered as Malaysia Tax Residents?

Any person, whether Malaysian citizen or not, who has resided in Malaysia for more than 182 days (or accumulated) during the assessment year is considered as a Malaysian Tax Resident.

 

If I’m a student or housewife, am I still considered a Malaysia Tax Resident?

Yes, so long you have resided in Malaysia for more than 182 days (or accumulated) during the assessment year.

When am I considered a non-Malaysia Tax Resident?

If you did not reside in Malaysia for more than 182 days (or accumulated) during the assessment year.

What is the Taxpayer Identification Number (TIN)?

TIN is a unique identification number issued by each country’s tax authority to taxable individuals or entities. For Malaysians, TIN is commonly known as “Nombor Cukai Pendapatan” or Income Tax Number, issued by Lembaga Hasil Dalam Negeri (Inland Revenue Board of Malaysia).

Shariah Investing
What is an Islamic Account?

The Islamic Account option of MIDF Invest provides our customer access to a holistically Shariah-compliant online investment service covering the aspects of maintenance of trust accounts, facilitation of forex transactions and access to shares that are Shariah-compliant. Each aspect has been reviewed, endorsed and approved by our Shariah Committee and conforms to the applicable rules, regulations and guidelines by the Securities Commission of Malaysia and Bank Negara Malaysia. 

Trust Account:

Islamic trust accounts are created under your name to receive monies and make payments for your investments, whereas idle monies will be placed in Shariah-compliant deposits/ short-term Islamic instruments, hence there is no Riba’ element in the management of your trust account. 

Forex Transaction: 

The facilitation of forex transaction complies with the Bank Negara Malaysia’s Policy Document on Bai’ al Sarf (currency exchange) while the bank accounts use to facilitate the forex settlement is non-interest bearing, hence there is no Riba’ element during facilitation of forex transactions. 

Investment Universe:

The Shariah-compliant shares are derived from a stringent and well-established equity Shariah screening methodology which has been endorsed by our Shariah Committee and complies with the relevant rules and guidelines set-out by the Securities Commission of Malaysia.  

MIDF Invest has partnered with IdealRatings Inc. for its Equity Screening Solution to perform the quarterly equity Shariah screening. The adopted screening methodology has been endorsed by MIDF Amanah Investment Bank Berhad’s Shariah Committee as well as been reviewed, tested and verified by ISRA International Consulting Sdn. Bhd. 

Shariah Committee:

Being a licensed entity under the Bank Negara Malaysia and in accordance to the Islamic Financial Services Act 2013, MIDF Amanah Investment Bank Berhad has established its own Shariah Committee which undertakes the Shariah oversight role to govern all Islamic products and services offered by MIDF Amanah Investment Bank Berhad, including services offered via MIDF Invest, to ensure continuous compliance and conformations with the resolutions issued by the Shariah Advisory Council of Bank Negara Malaysia and that of Securities Commission of Malaysia. 

What do I do if the Shariah-compliant shares/instruments I bought have been reclassified as Shariah non-compliant?

We shall inform our customers via email and/or in-app message if any of the shares that the customers invested in has been reclassified as Shariah non-compliant. As per recommendation by the Securities Commission, if shares held by Customers cease to be Shariah compliant, the Customers are strongly advised to consider performing the following actions, depending on the current market value of their investment: 

If the market value is greater than or equal to the investment cost of the stock: 

  1. Dispose the Shariah non-compliant stocks immediately. 
  2. Keep the dividends/capital gains received UP TO the Announcement Date. 
  3. Channel the dividends/capital gains received AFTER the Announcement Date to baitulmal and/or charitable bodies. 
  4. If the market value is less than investment cost of the stock: 
  5. Hold your investment in the Shariah non-compliant stocks. 
  6. Keep the dividends received during the holding period until the market value of the stock is greater than or equal to investment cost.  

Should you require further assistance, you can chat with one of our Happiness Agents via the app or email us at hello.midfinvest@midf.com.my

How do you determine the shares are Shariah compliant?

The Shariah-compliant shares are derived from a stringent and well-established equity Shariah screening methodology which has been endorsed by our Shariah Committee and complies with the relevant rules and guidelines set-out by the Securities Commission of Malaysia. All shares are reviewed based on two main criteria: 

Qualitative criteria – selection of companies based on their type of business/industry classification; and 

Quantitative criteria – employment of debt, interest and liquidity related ratios to identify non-permissible income from conventional financial activities. 

MIDF Invest has partnered with IdealRatings Inc for its Equity Screening Solution to perform the quarterly Shariah screening and the adopted methodology has been endorsed by MIDF Amanah Investment Bank Berhad’s Shariah Committee as well as been reviewed, tested and verified by ISRA International Consulting Sdn. Bhd. 

How often do you review the Shariah compliant status of the shares?

Quarterly (March, June, September and December).

General Questions
Do you employ sales agents, remisiers, dealers or marketing representatives?

As a full-fledged digital stockbroker, we DO NOT employ any representatives. Should you need help on the platform, please feel free to reach out to our Happiness Agents via email should you have questions or would like to verify the source of information. 

How do I contact you?

Should you need more help, please reach out directly to our Happiness Agents through one of the following channels. 

  1. Chat box in the app: Use the Chat Box in the app or web portal  
  2. Email: Send email at hello.midfinvest@midf.com.my 
Where is your office located and can I come to your office?

Should you need more help, please reach out directly to our Happiness Agents through one of the following channels. 

  1. Chat box in the app: Use the Chat Box in the app or web portal  
  2. Email: Send email at hello.midfinvest@midf.com.my 

However, you may also visit us physically at Menara MIDF, 82, Jln Raja Chulan, 50768 Kuala Lumpur. 

Can I access the app when I am overseas?

Yes, via the same mobile app.

How do I unsubscribe from your promotional notifications?

You can do this by first logging in to your mobile app. Go to the Dashboard and click Settings. Select Notifications and disable Promotions. Don’t forget to save the changes. 

How secure is my personal data?

We adhered to the Personal Data Protection Act 2010 (PDPA). All customers’ data is stored in a secured environment as prescribed by the PDPA. You may find a copy of the PDPA here

What happens to my investments and cash upon my demise?

In the event of death, all instructions and other monetary instruments shall continue to be honoured until the Company receives notice in writing of the Client’s demise. At this point, the Company shall be entitled to sell-out any outstanding purchases / losses (which have not been paid for). Fees associated with the transferring of shares / trade activities made upon the request by the executor(s) or administrator(s) of the deceased’s estate will be funded by the balance funds available in the account. 

We therefore encourage you to update your next of kin in your profile settings of the mobile app or web portal. 

Demo Account
What can I do on MIDF Invest’s demo?

The demo function is a place where you can explore our platform and practice until you are ready to make your first actual trade. You can try out trading features like viewing stock prices, creating watchlists and performing dummy trades with a virtual amount of USD 100,000.  

If you leave your email address you will get free 30-day access to the demo, and we will save your virtual investments so that you can track the progress later. If you opt to not leave your email address, you will only receive access for 5 days only.

Do I have to pay to use this service?

The Demo function is completely free.  

Fees & Charges
What are the brokerage and other fees that I need to pay on your platform?

You will only need to pay the brokerage, stamp duty, custodian fee, and SEC clearing fee. We do not charge for cash transfers between your bank account and the platform, dividend payment service and maintenance.  

However, from time to time, you may enjoy better rates from our promotions. The following rates are applicable from 6th July to 31st August 2021.  

  

US Stocks 

Brokerage Fee per trade 

0% for trades below USD 1,000. Trades above USD 1,000 will be charged USD 5 minimum or 0.40% brokerage fees per trade 

Stamp Duty 

RM1 for every RM1,000 equivalent value (capped at RM200) 

SEC Clearing Fee 

0.0051% of total sell transaction value 

Custodian Fee 

0% currently waived until further notice. 

Transfers, Maintenance Fees 

0% not applicable. 

How much stamp duty do I have to pay for every transaction?

The applicable rate for stamp duty is RM1 per RM1,000 of investment amount, to a maximum of RM200. The stamp duty will be calculated based on the investment amount’s equivalent value in Ringgit Malaysia. 

The stamp duty legally binds all the contract notes every time you transact with us, both for Malaysia and U.S. investments. The amount is determined by and payable to the Lembaga Hasil Dalam Negeri (LHDN).  

Is there a waiver for stamp duty fee?

There is no waiver for stamp duty fee. The stamp duty legally binds all the contract notes every time you transact with us, both for Malaysia and U.S. investments. The amount is determined by and payable to the Lembaga Hasil Dalam Negeri (LHDN).   

Feedbacks & Complaints
How do I make a complaint or request for compensation?

Should you need more help, please reach out directly to our Happiness Agents through one of the following channels. 

  1. Chat box in the app: Use the Chat Box in the app or web portal   
  2. Email: Send email at hello.midfinvest@midf.com.my 
In what circumstances should I go to the Securities Industry Dispute Resolution Centre (SIDREC)?

For situations where you are unable to resolve monetary disputes with us.  You can go directly to SIDREC. SIDREC services are free of charge for investors with claims not exceeding RM250,000.  

For more information on SIDREC, visit https://sidrec.com.my/ .  

How do I file a claim to SIDREC?

Below are the contact details of SIDREC: 

Alternately, you can walk-in to SIDREC. 

Begin investing now.