FPX & Deposit Methods for M+ — All Banks Guide & How to Deposit Below RM1000
There are two main ways to deposit money into your M+ account: FPX (minimum RM 1,000) and Direct Transfer / Offline Deposit (no minimum). This article explains both methods step by step, including how to increase your FPX limit and tips for each bank.
Method 1: FPX (Online Banking) — Instant
FPX is the fastest method as deposits reflect in your M+ account within 15–30 minutes (business days).
FPX Deposit Steps
- Open the M+Global app
- Go to Menu → Deposit → Online Deposit (FPX)
- Select "Bursa" as market (not HK/US)
- Enter deposit amount (minimum RM 1,000)
- Select your bank from the list
- You will be redirected to your bank's online banking page
- Approve the payment in your banking app
- Wait 15–30 minutes for balance to update
Advantages of FPX: Fast (15–30 min), automatic (no need to upload proof), secure (uses Malaysia's FPX PayNet system).
Disadvantages: Minimum RM 1,000 per transaction, subject to bank daily limit.
FPX Minimum & Maximum Limits
| Item | Value |
|---|---|
| Minimum per transaction | RM 1,000 |
| Maximum per transaction | Depends on your bank limit (usually RM 10,000 – RM 30,000) |
| Frequency | No limit — can do multiple times per day |
Method 2: Direct Transfer + Offline Deposit — No Minimum
If you want to deposit below RM 1,000, use this method:
Step 1: Transfer Money to M+ Account
Transfer money from your online banking to M+'s bank account (Malacca Securities):
| Item | Details |
|---|---|
| Recipient Name | Malacca Securities Sdn Bhd |
| Recipient Bank | Maybank (Malayan Banking Berhad) |
| Account Number | Check in M+Global app → Menu → Deposit → Offline Deposit |
| Reference/Remarks | Your Client Code (e.g., ABC123J) |
IMPORTANT: Enter your Client Code in the Reference/Remarks field. Without this, M+ cannot identify that the deposit belongs to your account.
Step 2: Upload Payment Proof
- Open the M+Global app
- Go to Menu → Deposit → Offline Deposit
- Select "Bursa" as market
- Enter the amount transferred
- Upload screenshot of transfer proof (bank receipt)
- Submit and wait for verification
How Long Does Offline Deposit Take?
- Business day (before 4 PM): A few hours to same day
- Business day (after 4 PM): Next business day
- Weekend / holiday: Next business day
FPX Limits by Bank & How to Increase
Each bank has different daily FPX limits. If your limit is low, you need to increase it in your banking app:
| Bank | Default Limit (typical) | How to Increase |
|---|---|---|
| Maybank | RM 1,000 – RM 10,000 | Maybank2u → Settings → Transfer Limit → Third Party |
| CIMB | RM 1,000 – RM 10,000 | CIMB Clicks / CIMB OCTO → Settings → Transaction Limit |
| Bank Islam | RM 1,000 – RM 5,000 | Bank Islam app → Settings → Transaction Limit |
| RHB | RM 1,000 – RM 10,000 | RHB Online → Settings → Daily Limit |
| Public Bank | RM 1,000 – RM 10,000 | PBe → Maintenance → Transaction Limit |
| Hong Leong | RM 1,000 – RM 10,000 | HLB Connect → Settings → Transfer Limit |
| AmBank | RM 1,000 – RM 5,000 | AmOnline → Settings → Transaction Limit |
| BSN | RM 1,000 – RM 5,000 | myBSN → Settings → Transaction Limit |
| Affin Bank | RM 1,000 – RM 5,000 | Affin Online → Settings → Transaction Limit |
Note: Limits above are estimates. Actual limits depend on your account type and individual settings. Increase under "Third Party Transfer" or "FPX" section in your banking app.
Tip: Increase your FPX limit to RM 30,000 for flexibility. Some banks require TAC/OTP to increase limits. Read the full guide: How to Change Maybank Limit
Deposit Method Comparison
| Aspect | FPX | Direct Transfer + Offline Deposit |
|---|---|---|
| Minimum | RM 1,000 | None (recommended ≥ RM 100) |
| Speed | 15–30 minutes | A few hours – 1 business day |
| Need to upload proof? | No | Yes (screenshot of transfer receipt) |
| Automatic? | Yes | No — requires manual upload & M+ verification |
| Works with all banks? | Banks in FPX list only | All banks that can transfer to Maybank |
| Fee | Free | Free (deposit ≥ RM 100). Below RM 100 = RM 1 charge |
Deposit for US / Global Stocks
If you want to deposit to trade US or Hong Kong stocks through M+Global:
- FPX deposit: Select "Global" (not Bursa) when making the deposit in the app
- Offline deposit: Select "Global" market when uploading proof
- Currency: Deposit in RM — M+ will convert to USD at current rate when you buy US stocks
- Minimum: Same as regular deposit (FPX = RM 1,000)
Important: Funds for Bursa Malaysia and Global are separate. Deposits to "Bursa" cannot be used to buy US stocks, and vice versa. Make sure to select the correct market when depositing.
Common FPX Issues & Solutions
| Problem | Solution |
|---|---|
| FPX rejected by bank | Increase FPX limit in banking app. Some banks block FPX to brokers by default |
| Page timeout / error | Try again. Don't press "Back" during processing — may cause double charge |
| Bank not in list | Use Direct Transfer + Offline Deposit method |
| Money deducted but M+ not updated | Wait 15–30 min. If over 1 hour, contact M+ with transaction proof |
| Double charge (2x deducted) | Contact M+ — they will refund the duplicate. Don't make new deposits yet |
Frequently Asked Questions
Can I deposit using MAE by Maybank?
MAE is not full online banking — it's an e-wallet. For FPX deposit, use Maybank2u (not MAE). For direct transfer, you can use MAE to transfer to M+'s bank account, then upload proof in Offline Deposit.
Can I deposit using DuitNow or JomPAY?
M+ does not officially support DuitNow QR or JomPAY for deposits. Use FPX or Direct Transfer only.
Can I deposit at night / on weekends?
You can make the transaction anytime, but processing only happens on business days. Deposit Saturday night → will be processed Monday morning.
Is FPX from M+Online and M+Global the same?
Yes, both apps connect to the same account. Fees and limits are the same. Deposit through either app will reflect in both.
Is there a fee for FPX deposit?
M+ does not charge for FPX deposits. Free. However, your bank may have its own FPX charges (very rare).
Why is my FPX limited to only RM 1,000?
That is your bank's default limit. Increase it in your banking app → Third Party Transfer Limit / FPX Limit. Most banks allow up to RM 30,000–RM 50,000 per day.
Need help? Contact our team at t.me/mahersahamplatform for any deposit issues.
This article was written by Wan Mahersaham, a registered M+ Online remisier, as a reference for investors to understand all deposit methods for M+ trading accounts.