M+ Online

What M+ Online does

M+ Online is the retail-facing digital trading brand of Malacca Securities Sdn Bhd, a Malaysian stockbroking firm founded in 1963 as Malacca Traders and licensed by the Securities Commission Malaysia as a Participating Organisation of Bursa Malaysia Securities Berhad. The firm serves individual Malaysian investors through two core platforms: M+Online, the legacy Bursa Malaysia trading app launched in 2012 covering local stocks, ETFs, REITs, and ETBs with Shariah-compliant screening, and M+Global, launched in 2023 and integrated with M+Online in April 2024 to provide a single Universal Account for trading Malaysian, US, and Hong Kong markets (over 7,000 US stocks with Nasdaq Basic real-time data and 16-hour extended trading, plus 3,000+ HK stocks with Level 2 data) using RM deposits. The product portfolio is rounded out with Malaysia's first IPO financing service (2024), margin trading with up to 5x leverage on US stocks, structured warrant campaigns (notably with Macquarie Capital Securities), and corporate finance advisory including MULA financial planning services.

The business model is predominantly transaction-based: commissions of 0.05% on Bursa trades (RM8 minimum), 0.10% on US trades (US$3 minimum), and HK$18 flat on Hong Kong trades, supplemented by 8% annual margin interest, IPO financing fees charged only on allotment, and corporate finance advisory fees. The firm operates a hybrid distribution model combining a self-serve digital platform (iOS, Android, Windows, macOS) with 200+ licensed Dealer Representatives and 15+ physical branches across Malaysia including the Malacca headquarters, KL Eco City concept store, and regional branches in Penang, Johor, Pahang, and Kedah. Marketing is multi-channel, leveraging referral programs (RM12,000+ earnable), new-user deposit rewards (up to RM2,400), daily research reports, Telegram and WhatsApp news distribution, and integrations with The Edge Malaysia, New Straits Times, The Star, and CNBC. Customer segments are purely retail, segmented by use case (retail investors, IPO investors, dividend-focused, Shariah-compliant), with no disclosed enterprise or institutional clients, making revenue tightly correlated to Malaysian retail trading volumes and market sentiment.

Name

M+ Online

Legal name

Malacca Securities Sdn Bhd

Website

https://mplusonline.com

Company type

Private

Founded year

1963

Operating status

Operating

Headcount range

251–500 employees

Short description

M+ Online is the retail trading brand of Malacca Securities Sdn Bhd, a licensed Malaysian broker founded in 1963 that provides Malaysian retail investors a single Universal Account to trade Bursa Malaysia, US, and Hong Kong stocks via the M+Online and M+Global apps, supplemented by IPO financing, margin trading, and a 200+ dealer representative advisory force.

Ownership category

akta.pro rank

Product category

Online Stockbroking

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Single-Dealer Platforms (Multi-Asset) (FSAFAEAG)

akta.pro secondary industry

Sell-Side M&A Advisory (FSAEAGAA)

Keywords

• Online stockbroking
• Retail brokerage services
• Global stock trading
• IPO subscription services
• Margin trading platform

Headquarters

HQ city

Melaka

HQ country

Malaysia

HQ region

Asia

Offices16 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Trading Commissions - Malaysia: Commission-based revenue from Bursa Malaysia stock trades. Competitive rates starting at 0.05% of trade value with minimum charge of RM8.00
2. Trading Commissions - US Market: Commission-based revenue from US stock trades. Rate of 0.10% with minimum charge of US$3.00
3. Trading Commissions - HK Market: Commission-based revenue from Hong Kong stock trades. Flat fee of HK$18.00
4. Margin Interest: Interest revenue from margin trading facilities. US stocks margin at 8% annual interest rate
5. IPO Financing Fees: Fee-based service for IPO financing, charging only if investor receives allotment

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels7 records

Core offering

M+ Online, operated by Malacca Securities Sdn Bhd, is a Malaysian stockbroker offering online trading access to Bursa Malaysia, US, and Hong Kong stock exchanges through the M+Online and M+Global platforms. The company combines a proprietary multi-market digital trading platform with 200+ licensed Dealer Representatives and 15+ physical branches to deliver retail stockbroking services. Revenue is generated primarily through trading commissions on MY, US, and HK stock trades, plus margin interest and IPO financing fees.

Product overview

M+ Online operates two primary trading platforms: M+Online (for Malaysia/Bursa stocks since 2012) and M+Global (for global markets since 2023), both offered by Malacca Securities. M+Global serves as the unified platform enabling access to MY, US, and HK markets from a single account. The product portfolio includes core stock trading platforms, IPO subscription services (including Malaysia's first IPO financing product), margin trading with leverage up to 5x, and corporate finance advisory services. The company positions itself as a hybrid broker combining 200+ licensed dealer representatives with digital platforms.

Differentiator

Problem solved

Functional benefit

Products and services

• M+Online Malaysia-focused online stockbroking platform for trading Bursa Malaysia stocks, ETFs, REITs, and ETBs with real-time market data and Shariah-compliant screening, targeting individual Malaysian retail investors.
• M+Global All-in-one global trading platform enabling trading of MY, US, and HK stocks from a single account, supporting stocks, ETFs, warrants, CBBCs, and IPO subscriptions for individual Malaysian investors.
• IPO Subscription Service enabling subscription to Bursa Malaysia IPOs directly through the M+Global platform with no upfront cost and free refund for non-allotment, for retail IPO investors.
• IPO Financing Malaysia's first IPO financing service that allows users to apply for more shares with zero upfront cost, paying fees only if allotted, for retail investors participating in Bursa Malaysia IPOs.
• Margin Trading Leveraged trading facility offering up to 3x trading limit for MY stocks and up to 5x leverage for US stocks, available to retail clients via margin account capabilities.
• Corporate Finance Advisory Advisory services for companies seeking capital raise, restructuring, or mergers and acquisitions across various sectors.
• MULA Advisory Financial planning services offered through the M+Global platform to retail clients.

Quantifiable outcome

• 77% of Bursa IPOs profitable with 35% average return on listing day
• +3 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• Macquarie Capital Securities (Malaysia) Sdn BhdminorGTM or Marketing Partner · 8 June 2026Macquarie Capital Securities (Malaysia) Sdn Bhd sponsors the M+Global Macquarie Warrants Campaign. Eligible M+Global users can receive trading voucher rewards when trading Macquarie-issued Structured Warrants during the campaign period (8 June 2026 to 8 September 2026). Total reward pool capped at RM60,000.

Scale indicators10 records

Recent moves11 records

Expansion highlights6 records

Broad incumbents

• Hong Leong Financial Group: Hong Leong Financial Group operates Hong Leong Capital, a Malaysian stockbroking and investment banking franchise. Comparable to M+ Online in retail and institutional broking, with broader banking group resources.
• Maybank Investment Bank: Maybank IB is Malaysia's largest investment bank with full-service brokerage, equity research, and advisory operations. Larger incumbent overlapping significantly with M+ Online across retail broking, IPOs, and corporate finance.
• Interactive Brokers: Interactive Brokers is a global multi-asset broker offering access to 150+ markets including Malaysia, US, and Hong Kong. Overlaps with M+ Online's Universal Account multi-market proposition and targets similar self-directed retail and professional investors.

Direct peers

• Rakuten Trade (Malaysia): Rakuten Trade is a Malaysian online brokerage joint venture offering retail investors access to Bursa Malaysia and US markets. Direct competitor to M+ Online in the Malaysian digital stockbroking segment, particularly among younger retail traders.
• Kenanga Investment Bank Berhad: Kenanga is one of Malaysia's largest investment banks with a substantial retail brokerage and trading arm offering Bursa, US, and regional market access. Comparable to M+ Online in retail equities, derivatives, and online trading platform offerings within Malaysia.
• CGS-CIMB Securities: CGS-CIMB is a major Malaysian broker-dealer providing online trading across multiple regional markets. Overlaps directly with M+ Online in multi-market retail and institutional brokerage, with stronger IB parent backing.
• Affin Hwang Capital: Affin Hwang Capital is a Malaysian investment bank group with retail brokerage, online trading, and corporate finance advisory services. Direct competitor in the Malaysian retail brokerage and digital trading space.
• Public Invest (Public Bank Group): Public Invest is the brokerage arm of Public Bank, one of Malaysia's largest banking groups. Direct competitor in retail equities, online trading platforms, and IPO subscription services for Malaysian retail investors.

Emerging players

• Tiger Brokers (Singapore) / Tiger Trade: Tiger Brokers is a digital-first Asian brokerage offering multi-market access including Malaysia, US, and Hong Kong. Emerging competitor targeting Malaysian retail investors with low commissions, competing with M+ Online's Universal Account proposition.
• moomoo (Malaysia) by Futu Inc. moomoo is a global digital brokerage expanding in Malaysia, offering multi-market trading and advanced analytics. Emerging competitor in the Malaysian retail online trading segment where M+ Online operates.

Market position

Strengths3 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/mplusonline
• Facebookfacebook.com/mplusonline
• LinkedInlinkedin.com/company/malaccasecurities

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about M+ Online