Reviews of Malacca Securities Sdn Bhd
This is page 3 of 31 of the reviews SmartChecker holds for Malacca Securities Sdn Bhd. What the public registers say about the company is set out on its record page, not here.
What does SmartChecker make of Malacca Securities?SmartChecker 怎么看 Malacca Securities？Apa pandangan SmartChecker tentang Malacca Securities?
Written by Pang Hui JuanDirector of Online Broker Research
Fact-checked by Ng Kok HeiManaging Malaysian Partner
Fact-checked
I’ve been looking into Malacca Securities, one of Malaysia’s established stockbroking firms.
Its established position in the local stockbroking industry is a strength. It is a Participating Organisation of Bursa Malaysia and provides access to Malaysian equities, online trading and Shariah-compliant stockbroking through Bursa Malaysia-i.
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Investors should also understand its regulatory history. In September 2022, the Securities Commission Malaysia (SC) took administrative action against Malacca Securities Sdn Bhd for two breaches of its Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) Guidelines. The issues included inadequate ongoing customer due diligence and account monitoring, and failures involving risk reclassification and suspicious transaction reporting. The SC issued a reprimand for each breach and a total penalty of RM220,000. Its review application was dismissed in February 2023.
An earlier AML/CFT-related action followed in July 2020. The SC found that Malacca Securities had not responded in time to certain law-enforcement orders under the Anti-Money Laundering Act. It reprimanded the company and directed it to allocate at least RM200,000 to strengthen compliance systems, monitoring, controls and staff training.
Separately, some individuals associated with Malacca Securities have faced disciplinary action for trading-related misconduct. Individual cases must be distinguished from findings against the company and should not automatically be attributed to it.
Overall, Malacca Securities is a locally established, regulated stockbroking firm with access to Bursa Malaysia and Islamic stockbroking services. Its regulatory record also shows past AML/CFT compliance issues. Regulation provides the framework. Transparency provides confidence. Due diligence remains every investor’s responsibility.
Malacca Securities 是马来西亚较成熟的股票经纪公司，也是 Bursa Malaysia Participating Organisation，提供马来西亚股票、网上交易及 Bursa Malaysia-i 的伊斯兰股票经纪服务。
2022 年 9 月，SC 因两项 AML/CFT 指引违规对 Malacca Securities Sdn Bhd 采取行政行动，涉及持续客户尽职调查、账户监控、风险重新分类和可疑交易报告。SC 对每项违规作出谴责，合计罚款 RM220,000；复核申请于 2023 年 2 月被驳回。
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2020 年 7 月另有一项 AML/CFT 行动。SC 指公司未及时回应执法机构根据反洗钱法发出的若干命令，并要求至少拨出 RM200,000 加强合规系统、监控、控制和员工培训。
与公司有关联的个别人士也曾因交易行为受纪律处分，但个人案件必须与针对公司的监管结论分开。
整体而言，它是本地受监管、可接入 Bursa Malaysia 的股票经纪公司，同时也有过去的 AML/CFT 合规纪录。投资者应结合监管、透明度和自身尽职调查作出判断。
Saya telah meneliti Malacca Securities, salah sebuah firma pembrokeran saham yang mapan di Malaysia.
Kedudukannya yang mapan dalam industri pembrokeran saham tempatan ialah satu kekuatan. Ia merupakan Participating Organisation Bursa Malaysia dan menyediakan akses kepada ekuiti Malaysia, dagangan dalam talian serta pembrokeran saham patuh Syariah menerusi Bursa Malaysia-i.
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Pelabur juga perlu memahami sejarah kawal selianya. Pada September 2022, Securities Commission Malaysia (SC) mengambil tindakan pentadbiran terhadap Malacca Securities Sdn Bhd bagi dua pelanggaran Garis Panduan Pencegahan Pengubahan Wang Haram dan Pembiayaan Keganasan (AML/CFT). Isunya termasuk usaha wajar pelanggan dan pemantauan akaun yang berterusan tetapi tidak mencukupi, serta kegagalan berkaitan pengelasan semula risiko dan pelaporan transaksi mencurigakan. SC mengeluarkan teguran bagi setiap pelanggaran dan penalti berjumlah RM220,000. Permohonan semakannya ditolak pada Februari 2023.
Satu lagi tindakan berkaitan AML/CFT berlaku lebih awal, pada Julai 2020. SC mendapati Malacca Securities tidak membalas dalam masa yang ditetapkan terhadap perintah penguatkuasaan undang-undang tertentu di bawah Akta Pencegahan Pengubahan Wang Haram. SC menegurnya dan mengarahkannya memperuntukkan sekurang-kurangnya RM200,000 untuk mengukuhkan sistem pematuhan, pemantauan, kawalan dan latihan kakitangan.
Secara berasingan, beberapa individu yang dikaitkan dengan Malacca Securities pernah menghadapi tindakan tatatertib kerana salah laku berkaitan dagangan. Kes individu mesti dibezakan daripada dapatan terhadap syarikat dan tidak harus dikaitkan dengannya secara automatik.
Secara keseluruhan, Malacca Securities ialah firma pembrokeran saham tempatan yang mapan dan dikawal selia, dengan akses kepada Bursa Malaysia dan perkhidmatan pembrokeran saham Islam. Rekod kawal selianya juga menunjukkan isu pematuhan AML/CFT pada masa lalu. Kawal selia menyediakan rangka kerjanya. Ketelusan memberikan keyakinan. Usaha wajar kekal menjadi tanggungjawab setiap pelabur.
Official sources
Reviews are written by SmartChecker members about their own experience and checked against our review rules. No company can pay to add, change or remove one.
Top mentions
All reviews 619 reviews
- 3 years ago
suhairah ariffin
This platform is truly my best friend on my stock journey, this platform has helped me understand trading more thoroughly, they have a lot to offer! I'm really satisfied. 🤝📱
- 4 months ago
Mahon Kaaka
Unreliable platform. Frequently fail. The IT dept superb inefficient, take days to resolve. The beauty is the management will not notify their customers. Customers may face losing trading opportunities, unable to manage risk. Will the platform provider compensate loses due to their unreliable system.
- 5 months ago
FonDee Goh
M+ platform is seriously lag and always kick user out with the message unresponsive server. M+ aware of the issue but just cant commit when the issue can be resolve. Trading with their platform now is really fras....
- 5 months ago
Funny Haha
小心这家公司，他们会无端端system down不给你交易。fb page也把限制评论，客服根本就是啦及
- 5 months ago
Ming Ke
Poor live chat service, never respond quick enough, and mention already submit my request, after 1/2 and hour I check no submission done, and ask me to double confirm my details, and the call centre never pick up
- a year ago
Showey Lim
If you are sitting on front desk you already expect it has many many different questions from walk in customers. I walked in because the online WhatsApp customer service can’t give me a clue on how to reset my account. The Chinese lady in front desk, impatience and under knowledge, please mind that we don’t know your group company has M+ global or M+ online or M+ Makcik system or whatever and don’t treat like we know your company structures. All the while if you don’t know just direct me to your knowledgeable colleague to sort it out after so many questions, the tone keep saying M+ global or M+ online, M+ global right? Like I’m the one made mistakes. Attitude.. 👎🏼👎🏼👎🏼 I appreciate the friendly Malay staff on helping me but Malacca Securities, your app is lousy and many bugs appearing and couldn’t update and terminate ourselves, even we have entered the office personally the staffs are under knowledge on solving the problems. This is a massive shared trading business and the app is developed immature. Better move to other shares trading platform. I advise whoever wants to do share tradings use other bigger companies instead of Malacca Securities, obviously the HQ staffs in Malacca one can’t help to sort out my account’s problem and I have been here for 2 hours already and still waiting…..
- 10 months ago
Jan Leow (PJ)
Recently, M+ people kept calling me every week! Not sure if it is telemarkerter, M+ broker or scammer because it came from mobile phone. M+, you better stop doing this, if you are this desperate to get customers, you are destroying your reputation!
- 3 months ago
Eric Yong
Platform error when trying to sell, account error when trying to buy in. Ended up missing both on 2 separate occasions.
- a year ago
SL Sia
WORST TRADING PLATFORM EVER. Merging their both version of apps during trading hours cause DAMN technical issue. Imaging you cannot sell your stock which will be expected to be gap down after big news announced, causing people losing monies. Took more than an hour to solve their apps technical problem. Not first time, it's my 2nd time encounter technical issue during the 9 months using it.
- 5 months ago
L***
Bursa closed 17th & 23th, then Mplus unavailable from 24th til now haven’t recover?! why not do system review on weekend or during raya holidays? Need to sell for stop lost, wasting time & money!
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Account Guide ΓÇö Test Scenario 010
In this fictional user-interface scenario, account-opening information and checklist structure the section headings feel intuitive and well structured. This is demo content, not verified customer feedback.
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Excellent Portfolio Overview ΓÇö Demo 103
As a five-star test scenario, the portfolio dashboard has an excellent information hierarchy. The treatment of holdings and allocation visuals makes this a strong example of readable financial UI. This note is for demo interface and sentiment testing only.
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Needs Improvement Accessibility Options ΓÇö Demo 022
This two-star usability test points to several gaps in the accessibility settings. The design should prioritize explanations of contrast and keyboard navigation instead of relying on assumptions. This is simulated copy, not a report from a customer.
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Poor Interface Consistency ΓÇö Demo 030
The hypothetical presentation of the overall platform interface is unnecessarily confusing. A complete redesign of how layout patterns and visual hierarchy is presented should be considered. It does not describe verified service performance.
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Poor Research Pages ΓÇö Demo 041
In this synthetic negative scenario, the research section makes key information difficult to locate. The lack of clear signposting for reports and supporting sources is a major problem in this test case. No actual brokerage usage or transaction is asserted.
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Poor Educational Resources ΓÇö Demo 036
In this synthetic negative scenario, the learning center makes key information difficult to locate. A complete redesign of how beginner guides and explanations is presented should be considered. This note is for demo interface and sentiment testing only.
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Mixed Market Overview ΓÇö Demo 003
The market overview looks acceptable as a basic interface concept. More practical context for market summaries and price panels would make it easier to evaluate. It does not describe verified service performance.
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Poor Support Navigation ΓÇö Demo 040
The hypothetical presentation of the help center is unnecessarily confusing. The scenario requires clear, prominent explanations of contact routes and FAQ topics before it is usable. This is simulated copy, not a report from a customer.
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Excellent Search And Filtering ΓÇö Demo 005
This fictional usability example highlights a particularly clear instrument search. Clear labeling around filters and results is a highlight of the design concept. No actual brokerage usage or transaction is asserted.
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Excellent Notifications Layout ΓÇö Demo 074
As a five-star test scenario, the alerts settings has an excellent information hierarchy. Clear labeling around notification preferences and labels is a highlight of the design concept. It does not describe verified service performance.