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Maybank Kim Eng Review: Multi-market Brokerage Offering Investment In Popular Instruments

Alevin Chan

Alevin Chan

Last updated 11 March, 2022

A trusted, all-in-one platform that lets you trade stocks, shares, ETFs, bonds and indices, along with leveraged products like FX and CFDs.


As the fully-owned investment arm of Maybank, Maybank Kim Eng doesn’t try to shake off its bank connections. Nor should it, as the brokerage’s wide range of instruments and market access allows it to serve as a one-stop shop for those looking to build a diversified investment portfolio. 

However, such convenience comes at a price; more specifically, as commission fees for stocks and CFDs that are relatively higher than what you may find elsewhere. Although, this is somewhat balanced by a comparative lack of non-trading fees and charges.

Is Maybank Kim Eng the right ideal trading platform for you? Read on to find out. 

Overview of Maybank Kim Eng

Product summary:

What you can invest in: Stocks, REITs, ETFs, Bonds, CFDs and FX 
Minimum balance required: $0 (Min $3,000 to initiate CFD trade) 
Deposit fees: No deposit fees listed
Withdrawal fees: None
Withdrawal limits: None
Commission: Min. $10 for SG stocks (prefunded account), Min. $25 (KE Trade); Min. USD20 for US stocks 
Inactivity fee: None
Licence: Authorised by Monetary Authority of Singapore (MAS)

Pros Cons
Wide variety of instruments available, suitable for wide range of trading and investment goals High minimum commission fees for stock trades 
Little to no trading-related fees Online and mobile stock trades limited to a few markets only
No inactivity fees for dormant accounts Offline, broker-assisted trades carry higher commissions 
Updated stock news and market insights   

Why should you trade with Maybank Kim Eng?

#1: Trusted broker with wide range of different instruments

Maybank Kim Eng is the brokerage arm of Maybank, which is a trusted bank with a presence in the world’s major financial centres – including Singapore, London and Hong Kong. It is also approved and regulated by the Monetary Authority of Singapore (MAS). 

Maybank Kim Eng offers a mix of leveraged and non-leveraged trade instruments: stocks, shares, ETFs and bonds, along with FX and CFDs. That caters to a wide range of investor types and goals. This makes the platform a great starting place for investors wanting to dabble in different types of instruments. 

#2: Lack of non-trading fees, no penalty for dormant accounts

Maybank Kim Eng prefers to engage you when you’re actively trading; when you’re not, they generally leave you alone. 

This can be seen in how there are virtually no non-trading fees to worry about; they’ve even done away with inactivity fees, and dormant accounts may be maintained with no penalty. 

The arrangement leaves more room and flexibility for traders who may not be able to match the higher commitment levels demanded by some other brokerages. 

#3: Both self-service trades and broker-assisted trades available

Maybank Kim Eng offers a mix of self-service trades – investors may execute via online and mobile channels – and broker-assisted trades, which are conducted offline by professional brokers.

While online channels are limited to only a few markets (Singapore, Hong Kong, US, UK, Malaysia and Thailand), several more markets are available offline via other brokers. This effectively extends the range and array of markets available to you, but you should watch out for the higher commission fees for broker-assisted trades. 

#4: Updated newstream of market news, insights and reports

Maybank Kim Eng publishes an up-to-date stream of news, insights and reports that traders can use to inform their trading strategies. 

Via the ‘Market Insight’ section, different stock types are highlighted, helping investors zero in on growth, yield and value stocks accordingly. Consensus calls from other professional brokers are also included for a more well-rounded view. Meanwhile other tools like customisable watchlists and stock alerts add a further layer of utility. 

Having said that, it must be noted that there isn’t much in terms of online learning – only the basics of trading is covered. Hence, beginners or those seeking to hone their knowledge will have to track down other resources to learn as much as they can (which is what serious investors should be doing anyway).

For whom is Maybank Kim Eng best suited?

Traders and investors who are looking for a multi-market brokerage across popular instruments – both leveraged and non-leveraged – will find Maybank Kim Eng a useful launching pad. 

While it suffers from high minimum commission fees, and the majority of markets are only available via broker-assisted trades that carry higher fees, it makes up for these faults with no charges for non-trading purposes, including account dormancy. 

Beginners may feel a little left out with the relative lack of online learning resources, but experienced investors and those who only trade occasionally should find the platform adequate for their needs. 

What charges or fees should you look out for? 

You should pay attention to trading-related fees when trading stocks and CFDs with Maybank Kim Eng, given their high minimum commission charges. Spreads for FX, however, are competitive. 

Consolidating your budget for fewer, larger trades may help reduce the impact here, as will avoiding broker-assisted trades. 

In terms of non-trading fees, there are very little to note. However, do be aware of other service fees and charges such as custodian fees, share transfer fees and more.

What are some promotions available for Maybank Kim Eng? 

Earn up to $188 rebates when trading in the Hong Kong market

  • Get $188 trades rebates when you accumulate $688 worth of commissions
  • Applicable for Hong Kong market trades via a single account only
  • Valid till 31 March 2021 

Enjoy lower commission for Singapore, US and Hong Kong/Shanghai-Hong Kong trades

  • Enjoy lower commission of 0.12% for Singapore, US, and HK/Shanghai-HK trades
  • Lower commissions valid for 3 months from date of account opening
  • Valid for new, pre-funded accounts opened by 30 June 2021
  • Minimum commission rates apply 

How do you open and fund your Maybank Kim Eng account? 

Opening your Maybank Kim Eng account

  1. Click this link to go to the account opening page.
  2. Select the account type you would like to open.
  3. Follow the on-screen prompts to fill in and submit your application.

Take note that you will need to prepare the following when applying for your account:

  • Bank account number
  • CDP securities account number (you’ll need to apply for a Central Depository Account from SGX beforehand)
  • Your personal details

Funding your Maybank Kim Eng account

There are several ways you can fund your Maybank Kim Eng account, as follows: 

Funding method Crediting lead time Fees
GIRO Same business day None
Multi-currency e-Pay (SGD, USD, HKD-denominated stocks) Same business day None
PayNow Same business day None
Internet banking 1 to 2 business days None
Cheque 2 business days Clearing fees may apply

Maybank Kim Eng vs Oanda vs IG vs City Index vs Tiger Brokers vs IBKR vs TD Ameritrade

  Maybank Kim Eng Oanda IG City Index Tiger Brokers Interactive Brokers (IBKR) TD Ameritrade
Commission fee SG stocks - min $10 - $25 
US stocks -  min USD20 
Daily rates and charges according to market conditions

$10 minimum for equity  CFDs per open/close 0.08% or $10 minimum for Singapore CFDs SGX stocks: 0.08%, min. $2.88 per order is currently waived 
US stocks: USD$0.01, min. USD$1.99 per trade
SGX stocks: 0.08% of trade value, min. $2.50 per order 
US stocks: USD$0.005 per share, min. USD$1 per order
$0 (for US exchange-listed stocks, ETFs and option trades)
Min. deposit N/A N/A N/A $150 N/A N/A N/A
Maintenance fee N/A Inactivity fee of $10 per month applies after 12 months without trading activity N/A N/A N/A Up to USD$10 per month (less commission paid that month) N/A

Read these next:
Best Brokerage Accounts To Start Your Investment Journey In Singapore
Oanda Review: Reputable FX & CFD Brokerage With Top-quality Research
Interactive Brokers (IBKR) Review: Pros, Cons and Why They’re So Popular
Best Maybank Credit Cards in Singapore (2021)
Best Investment Sign-up Promotions In Singapore (2021)


An ex-Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimise happiness and enjoyment in his life.


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