Margin Account Opening- Gearing Up For the Storm

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Almost a month ago, I went down to Maybank Kim Eng Customer Service Centre at Beach Road (Gateway West) to open a margin trading account. It was a struggle for me as I have given them a wrong CDP account (last digit typo) which leads to some administrative issues with getting the margin account setup. Just when I thought that the worst was over after the administrative hassle over phone calls and emails, I received news that some value-added services will no longer be free and become chargeable from August 1st, 2019 onwards.
Extract from Maybank Kim Eng Website
The main attraction originally was the low financing cost of 3.5% per annum as well as the free dividend handling charges coupled with no maintenance fees. But this has since changed with handling fees also for dividends. When I last checked with the  Customer Service Officer, Maybank Kim Eng may waive off any custodian charges if there is active trading.
Since I figured that the terms have changed to mediocre, there is no longer any incentive to commence trading with Maybank Kim Eng. I called up my usual trading representative in UOB Kay Hian for help with regard to their higher 5% margin financing relative to Maybank Kim Eng and DBS Vickers. I was surprised that her management at UOB Kay Hian is willing to offer a concessionary rate (subject to some additional conditions to manage their credit risk) in view of my long trading history with them. So moral of the story I learned is that you never know if you never ask.
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