Rating Index
Pros
User-friendly trading platform backed by Kenanga Investment Bank, a reputable financial institution in Malaysia.
Access to a variety of financial instruments including forex, CFDs, commodities, and indices.
Competitive trading environment with variable spreads and commission rates.
Cons
Lack of proper regulatory oversight, raising concerns about safety and accountability.
Reports of customer support issues, including slow response times and difficulties with fund withdrawals.
Absence of well-defined fee structures, which may lead to unexpected costs for traders.
KenTrade broker Accounts
Kentrade Account Types
Kentrade, operated by Kenanga Investment Bank Berhad, offers a variety of trading accounts tailored for both individual and corporate clients. The primary types of accounts available include:
Individual Trading Account: Designed for individual investors aged 18 and above, this account allows access to local and global equity markets, enabling users to trade shares, futures, and other financial products.
Corporate Trading Account: Intended for businesses, this account provides comprehensive trading services, allowing companies to manage their investments effectively.
Global Trading Account: This account type allows traders to access foreign exchanges in Asia, Europe, and the Americas, expanding their investment opportunities beyond local markets.
Islamic Stockbroking Account: This account complies with Islamic finance principles, offering a Shariah-compliant trading option for Muslim investors.
Futures Trading Account: For those interested in trading futures, this account provides the necessary tools and resources to engage in derivatives trading.
Visit the Website: Go to Kentrade's official website.
Select Account Type: Choose the type of account you wish to open (Individual or Corporate).
Complete the E-Form: Click on "Open an Account" and fill out the online e-form with the required information.
Prepare Supporting Documents: Gather the necessary documents, which may include:
- For Individual Accounts: Photocopy of NRIC or passport, a financial supporting document (bank statement or confirmation letter), and RM10 CDS opening fee.
- For Corporate Accounts: Certificate of incorporation, financial statements, and other relevant documents.
Submit Documents: Scan your completed form and supporting documents, then email them to kentrade@kenanga.com.my.
Dealer Contact: A dealer representative will contact you to assist with the account opening process.
Account Activation: Once your application is processed, you will receive a confirmation email, and your account will be activated.
Kentrade Broker Account Opening Process
Opening a trading account with Kentrade involves a straightforward process. Heres a step-by-step guide:
By following these steps, you can successfully open a trading account with Kentrade and start your investment journey.
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