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A range of financial products including forex, CFDs, commodities, and indices.

Multiple customer support channels to assist clients effectively.

Valuable educational resources that enhance financial literacy for users.

Lack of regulatory oversight raises concerns about consumer protection.

Limited operating history of 2-5 years may affect trustworthiness.

Potential for unregulated practices, leading to transparency and accountability issues.

iMoney broker Accounts

iMoney Account Type

iMoney offers various types of trading accounts for investors in Malaysia. The primary account types available are:

Operated by Bursa Malaysia, this account keeps a record of all your stock holdings. When you buy shares, they are credited to your CDS account, and when you sell them, they are transferred out.

In this account type, a nominee (such as a bank or stock brokerage platform) holds the shares you buy on your behalf, while you remain the actual owner. This option may simplify administrative tasks as the nominee handles paperwork related to share ownership.

This account allows you to invest using the money you have deposited. It is recommended for beginners to minimize risk as you can only trade with available funds.

This account allows you to borrow cash from the broker to buy shares, potentially increasing your gains but also increasing your risks. The amount you can borrow is typically based on the value of your cash or shares used as collateral.

Opening an account with iMoney is a straightforward process. Heres a step-by-step guide:

Visit the iMoney Website: Go to the iMoney homepage and click on the “Join” button.
Fill Out the Application Form: Provide your personal information, including identification documents (passport or ID card) and proof of address.
Choose Your Account Type: Decide whether you want a CDS or nominee account, and whether you prefer a cash or margin account.
Fund Your Account: iMoney offers various deposit methods, including bank transfers, credit/debit cards, and e-wallets. Select your preferred method and follow the instructions.
Verify Your Account: After funding your account, you will need to verify your identity and address by submitting scanned copies of your ID documents and proof of address.
Start Trading: Once your account is verified, you can begin exploring the iMoney trading platform and start making trades.