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Pros

Established for a long time, providing a sense of reliability and experience in the market.
Regulated by the Monetary Authority of Singapore (MAS), ensuring compliance with stringent financial standards.
Offers online customer service support in multiple languages, enhancing accessibility for clients.

Cons

Regulatory status is somewhat unclear, with concerns about its licensing and potential classification as a clone broker.
Low overall trust score from sources like WikiFX, indicating potential risks for traders.
Limited payment options and withdrawal fees may deter some users looking for more flexibility in transactions.

Maybank broker Accounts

Maybank Account Types

Maybank offers a variety of account types to cater to different investment needs, including:

  • Individual & Professional Accounts:
    • Maybank Trade Cash Account: A standard trading account for trading securities listed on various markets.
    • Maybank Trade Pre-Funded Account: A collateralized account that allows lower online brokerage rates.
    • Maybank Margin Financing Account: A leveraged trading account allowing clients to trade with borrowed funds.
    • Maybank Contract for Difference (CFD) Account: For trading CFDs, allowing speculation on price movements without owning the underlying asset.
    • Maybank Forex Account: Designed for trading foreign currencies.
    • Professional Account: Tailored for experienced investors, requiring a client proficiency assessment.
    • Corporate Accounts:
      • Accounts for companies and institutions, including margin financing and trading facilities.
      • Prime Brokerage:
        • Tailored for hedge funds and financial entities, offering services like omnibus structures, multiple sub-account management, and bespoke solutions.

        For more details, visit: Maybank Account Types

        Maybank Broker Account Opening Process

        To open an account with Maybank, follow these steps based on the type of account you wish to open:

        1. Individual Accounts:

        • Documents Required:

        • Two photocopies of NRIC or passport.

        • A copy of the latest annual income statement or latest 3 months' salary slips.

        • Latest 3 months' bank statements.

        • Application Process:

        • In-Person: Visit a Maybank investment bank branch or equities investment center with the required documents.

        • Online: Apply via Maybank2u for cash and non-margin accounts (individuals only).

        • By Mail: Download and complete the application form, then mail it with supporting documents.

        2. Corporate Accounts:

        • Documents Required:

        • Photocopies of NRIC of all directors & authorized personnel.

        • Board's resolution.

        • Memorandum and articles of association.

        • Latest audited company account statement.

        • Application Process:

        • In-Person: Submit the required forms and documents at a Maybank investment bank branch or equities investment center.

        • By Mail: Similar to individual accounts, but ensure all corporate documents are included.

        For more details, visit: Open An Account - Stock Trading

Maybank accounts can be viewed for products that can be traded accounts with a minimum deposit of by (2+) .
Maybank Account