charges besides brokage fee
Chines New Year that day I back to my hometown and met with my family, we discussed something about buying stock, then he told me there will be some extra charges besides brokage fee, this curious me and I searching online and found that we also need to pay clearing fee and stamp duty upon we buy and sell the stock.
Well, those charges wasn't too high but it is good to know that for people who new in stock investment, else they might forget to consider this cost when selling they stock.
Below are how those charges get calculated. Of course, brokage fee is depending on which agent you signed up to help you on stock transaction.
Clearing Fees
a. On-Market
0.03% of transaction value (payable by both buyer and seller) with a maximum of RM200.00 per contract. No minimum.
b. Direct Business
0.03% of transaction value (payable by both buyer and seller), with a maximum of RM200.00 and a minimum of RM10.00.
Stamp duty
The stamp duty chargeable on transactions on the stock market of Bursa Malaysia is:
1. RM1.00 for RM1,000.00 or fractional part of value of securities (payable by both buyer and seller), and effective 17 March 2003, the stamp duty shall be remitted to the maximum of RM200.00.
2. All instruments relating to the issue of, offer for subscription, or purchase of, or invitation to subscribe or purchase, debentures approved by the Securities Commission under Section 32 of the Securities Commission Act, 1993, and the transfer of such debentures, are exempt from stamp duty.
Well, those charges wasn't too high but it is good to know that for people who new in stock investment, else they might forget to consider this cost when selling they stock.
Below are how those charges get calculated. Of course, brokage fee is depending on which agent you signed up to help you on stock transaction.
Clearing Fees
a. On-Market
0.03% of transaction value (payable by both buyer and seller) with a maximum of RM200.00 per contract. No minimum.
b. Direct Business
0.03% of transaction value (payable by both buyer and seller), with a maximum of RM200.00 and a minimum of RM10.00.
Stamp duty
The stamp duty chargeable on transactions on the stock market of Bursa Malaysia is:
1. RM1.00 for RM1,000.00 or fractional part of value of securities (payable by both buyer and seller), and effective 17 March 2003, the stamp duty shall be remitted to the maximum of RM200.00.
2. All instruments relating to the issue of, offer for subscription, or purchase of, or invitation to subscribe or purchase, debentures approved by the Securities Commission under Section 32 of the Securities Commission Act, 1993, and the transfer of such debentures, are exempt from stamp duty.
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