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Rating Index

Pros

Unregulated status may provide more flexibility in trading strategies and account management.

Potential for higher leverage options, which can attract traders seeking significant returns.

User-friendly platform that may appeal to novice traders looking for a simple interface.

Cons

Lack of regulation raises significant concerns about the safety of funds and the broker's accountability.

High risk of scams and fraudulent activities, with numerous reports of delayed withdrawals and blocked accounts.

Unrealistic promises of high returns and aggressive sales tactics can lead to financial loss for inexperienced traders.

Bank Alliance broker Accounts

Alliance Bank Account Type

Alliance Bank offers a variety of share trading accounts to cater to different investment needs and preferences. Here are the different types of accounts available:

Online Trading Account: This account provides mobile trading access through the Alliance One Invest app, allowing for various trading alternatives.
Trading Account: Designed for traders looking to capitalize on upcoming IPOs, this account allows trading without needing to deposit funds upfront, leveraging the remisier's trading limit.
Collateralised Account: This account maximizes trading exposure with minimal capital outlay, using different collaterals that have high trading multipliers.
Foreign Share Account: With this single account, investors can access markets in the United States, Hong Kong, and Singapore.
Cash Upfront Account: This account allows purchases using one's own funds, ensuring hassle-free settlements with minimal brokerage costs.
Flexi 7 Account: This account offers an extended trading period, giving investors ample time to make informed decisions.

Alliance Bank Broker Account Opening Process

To open an Alliance One Invest share trading account, follow these steps:

Eligibility: The account is available to Malaysians aged between 21 and 70 years old, and Singaporeans are also considered.
Minimum Deposit: You can start investing with a minimum of RM 1,000.
Required Documents:

Photocopy of NRIC or passport (for non-Malaysians).
Recent 3-month bank statement or current 1-month payslip or recent EA or BE form. Additional income supporting documents may be required if necessary.
RM10 for Bursa Malaysia CDS account opening.

Application Process:

Complete the e-form, ensuring to fill in parts B to K, and then click “submit now” to send your application.
A dealer will contact you within 2 working days to finalize the application process.