How much do you need to get started in stock investing?
Few of my friends have asked me before how can one begins his or her journey into the world of stock investing. And I should have included this post since the very beginning of this blog but I somehow neglected it.
Well, better late than never.
To start your first journey through the world of stock investing (only applicable to Bursa Malaysia), you will only need a total amount of RM 10.
- Open a Central Depository Account or CDS with a local stockbroking agency or banks. Just give them a photocopy of your Identity Card (IC) and RM 10 fee. This CDS account will serve like a deposit account for you to keep your shares.
- Open a trading account with the stockbroker in Step (1). You will need to provide your income statements (or about 3 months of payslips) and fill up a trading form.
Once your application has been approved, you will be assigned a remisier (if you do not have any particular favourite) by the stockbroker and be given a trading limit.
Buying and selling shares
And that’s it! You’re ready! It’s as simple as that. But do bear in mind that for every transaction, you will be charged 3 fees – brokerage fees, clearing fees and stamp duty.
If you need more information or more detailed explanations, you can go to KCLau’s How to buy share in Malaysia.
Hope it helps!
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Good information!
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