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How will the excess monies in my trading/custodian account(s) be invested in? |
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It is our general practice to place and invest client's excess monies in the trading/custodian account(s) (i) in short term money market instruments of financial institution(s) in Malaysia or other jurisdiction(s) (for foreign securities trading), and/or (ii) in deposit(s) with financial institution(s) in Malaysia or other jurisdiction (for foreign securities trading), and/or (iii) as margin with Bursa Malaysia Derivatives Berhad, and/or (iv) in any other form of short term placement(s) in Malaysia or other jurisdiction(s) (for foreign securities trading). |
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How much do I expect to earn from the investment of the excess monies in my trading/custodian account? |
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Effective 30/05/2018, the prevailing interest/profit rates and charges applicable to client's excess monies held in Ringgit Malaysia are as follows:
- Normal / Collateralised Trading Account
Interest/Profit rate: 3.25% p.a. less administration fee of 0.25% on available cash balance in client's account.
- eDirect Cash Account
Interest/Profit rate: 3.25% p.a. less administration fee of 0.70% p.a. on available cash balance in client's account.
- eDirect Hybrid Account
Interest/Profit rate: 3.25% p.a. less administration fee of 2.25% p.a. on available cash balance in client's account.
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What are the prevailing rate and charges applicable to my excess monies in the Futures account? |
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For Futures account, the interest to be earned is only applicable if there is a minimum available excess cash balance of RM50,000 in client's account at all times. The prevailing interest rate shall be the rate quoted by Bursa Malaysia Derivatives less administration fee of 1.00% on available cash balance in client's Account
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Are the interest rates and charges subject to change and how will I be notified? |
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Yes, the interest/profit rate and administration fees are subject to change from time to time and will be notified to client via periodic statements/statement of accounts and/or the Bank's website at www.amequities.com.my. All fees and charges are subject to GST. |
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Is there any interest payable to my excess monies held in foreign currency? |
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Client's monies held in foreign currency are not entitled to any interest/profit. |
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