In 2004, Malaysia’s main stock exchange was named the Bursa Malaysia Exchange. Since then, a lot has changed in how trades are carried out, including the introduction of online trading platforms. While these are very convenient for most traders, here are features that should never lack on any viable online stock trading platform.
Exchange Membership and Regulation
Many people will assume that just because a broker is known on international platforms, then that broker is viable to conduct stock trading in Malaysia. However, this is not the case. Any broker must have an SCM registration number before they are allowed to operate within the Bursa Malaysia exchange. The first thing you should check before choosing an online stock trading platform is whether this registration number is present and valid.
An Online Trading Software
No online broker can claim to be one without having a working online trading software. This allows any person to remotely trade using the platform. The platform needs to be user friendly in terms of usability, accessibility and the ability to utilize custom features. If the platform provides technical analysis tools and news feeds that provide updates on various stock movements, the better.
Word on Commissions and Fees
Fees and commissions make a difference for any trader but more so for those who use an online platform frequently. An excellent online platform should always mention if there are any underlying fees and commissions plus how they are applied.
This feature can either make or break an online stock trading platform. Most of the time, this is the section that people come close to feeling the human aspect of a company. If customer care is unreliable or even hostile, the platform will be negatively reviewed. With online transactions, any negative review can lead to a poor business since people will not trust the service provider.