Remisier: Pendapatan & Cara Jadi di Malaysia
A remisier is a licensed dealer’s representative who facilitates buying and selling of securities on Bursa Malaysia. They operate as independent commission-based agents affiliated with licensed stockbroking firms. The Securities Commission Malaysia (SC) regulates this profession through the Capital Markets and Services Act 2007.
Remisiers in Malaysia earn between RM3,000 and RM15,000 or more monthly depending on client base size, trading volume, and market conditions. Top performers with established client portfolios can earn significantly higher. Income is entirely commission-based with no fixed salary.
Definition and Role of a Remisier
A remisier holds a Capital Markets Services Representative’s Licence (CMSRL) issued by the Securities Commission Malaysia. This licence authorises the holder to deal in securities as a representative of a stockbroking company. The term “remisier” is unique to Malaysia and Singapore.
Remisiers act as intermediaries between retail investors and the stock market. They advise clients on stock selection, execute trades on their behalf, and provide ongoing market analysis. Unlike salaried employees, remisiers run their own client book within the framework of a sponsoring stockbroking firm.
The profession differs from that of a stockbroker. Stockbrokers are direct employees of broking firms and receive a base salary plus commissions. Remisiers are self-employed contractors who earn purely from commissions. They have more autonomy in managing their schedule and client relationships but bear all business development costs.
Core Responsibilities of a Remisier
A remisier’s duties span trade execution, client advisory, compliance management, market research, and business development. Each responsibility requires knowledge of securities law and market dynamics.
Trade Execution
Remisiers execute buy and sell orders on behalf of clients through the stockbroking firm’s trading platform. They must ensure orders are placed accurately and promptly. Every trade must comply with Bursa Malaysia rules on order matching, price limits, and settlement timelines. Trades settle on a T+2 basis (two business days after the transaction).
Client Advisory and Portfolio Review
Remisiers analyse market trends, company fundamentals, and economic data to provide investment recommendations. They conduct regular portfolio reviews with clients and adjust strategies based on changing market conditions. Advisory must stay within the bounds of their CMSRL scope and avoid making guarantees on returns.
Regulatory Compliance
Remisiers must comply with Securities Commission regulations, Bursa Malaysia rules, and their sponsoring firm’s internal policies. This includes maintaining proper transaction records, adhering to anti-money laundering (AML) requirements, and filing suspicious transaction reports when necessary. Non-compliance can result in licence revocation and legal penalties.
Market Research and Analysis
Daily preparation involves reviewing overnight global market movements, studying company announcements, and analysing technical charts. Remisiers need to stay informed about macroeconomic developments, Bank Negara Malaysia monetary policy decisions, and sector-specific news that may affect their clients’ holdings.
Client Acquisition and Relationship Management
Building and maintaining a client base is the most important business activity. Remisiers network at investment seminars, industry events, and through referrals. Long-term success depends on trust, consistent performance, and transparent communication during both bull and bear markets.
Remisier Income and Commission Structure
Remisier income is entirely commission-based. Earnings depend on the total trading value generated by their client portfolio. Market conditions directly affect income levels.
The standard brokerage commission for equities on Bursa Malaysia is negotiable but typically ranges from 0.10% to 0.42% of the transaction value. Remisiers receive a portion of this commission, usually 40% to 60% depending on their agreement with the sponsoring firm.
- New remisier (Year 1-2): RM1,500 to RM5,000 monthly while building a client base
- Established remisier (Year 3-5): RM5,000 to RM15,000 monthly with a growing portfolio
- Senior remisier (5+ years): RM15,000 to RM50,000 or more monthly with a large active client base
Income fluctuates with market volume. During active market periods, daily trading volume on Bursa Malaysia can exceed RM3 billion, increasing commission opportunities. During market downturns, trading activity drops and commission income declines accordingly.
Remisiers bear their own operational costs including phone bills, transportation, client entertainment, and technology subscriptions. These expenses should be factored into net income calculations.
How to Become a Remisier
The path to becoming a remisier requires passing licensing examinations, securing sponsorship from a stockbroking firm, and obtaining CMSRL from the Securities Commission.
Educational Requirements
There is no mandatory degree requirement, but most stockbroking firms prefer candidates with these qualifications.
- Minimum: Diploma or degree in any field. Finance, economics, and accounting graduates have an advantage.
- Additional value: Professional qualifications such as CFA, CFP, or ACCA strengthen candidacy
- Clean record: No bankruptcy, no criminal convictions, and no history of securities law violations
SIDC Licensing Examinations
Candidates must pass examinations administered by the Securities Industry Development Corporation (SIDC). The required modules cover regulatory knowledge and technical competency.
- Module 6 (Rules and Regulations of Bursa Malaysia Securities): covers trading rules, listing requirements, and regulatory framework
- Module 7 (Financial Statement Analysis and Asset Valuation): covers fundamental analysis, accounting principles, and valuation methods
- Module 19 (Securities and Derivatives): may be required depending on the scope of dealing activities
Each module costs approximately RM300 to RM500 for registration and materials. Pass rates vary, but candidates should expect to study 2 to 3 months per module.
CMSRL Application Process
After passing the examinations, the path to licensure follows these steps.
- Secure a sponsorship agreement with a licensed stockbroking firm
- Submit CMSRL application to the Securities Commission through the sponsoring firm
- Complete background verification and reference checks
- Attend any additional training required by the sponsoring firm
- Receive CMSRL approval and begin dealing activities
The entire process from initial study to active dealing typically takes 6 to 12 months.
Career Progression and Diversification
Remisiers can expand their careers through specialisation, team building, and diversification into adjacent financial services.
New remisiers typically spend the first 2 to 3 years building a sustainable client base. This initial period is the most challenging and may require financial reserves to cover living expenses while commissions grow.
Experienced remisiers often specialise in specific sectors such as technology stocks, REITs, or commodities. Specialisation builds expertise and attracts clients seeking focused advice. Some remisiers build teams of junior dealers who operate under their mentorship.
Career diversification options include obtaining additional licences for unit trust distribution, financial planning, or derivatives trading. Each additional licence expands the range of products a remisier can offer to clients. Some senior remisiers transition into compliance roles, training positions, or management within stockbroking firms.
Challenges and Market Trends
The remisier profession faces structural changes driven by technology and evolving investor behaviour. Understanding these trends helps aspiring remisiers prepare effectively.
Online trading platforms and robo-advisors have reduced the need for traditional trade execution services. Retail investors increasingly execute trades independently through mobile apps. This shift means remisiers must offer value beyond order placement, such as personalised research, portfolio strategy, and market timing advice.
Commission compression is another challenge. Discount brokers offer rates as low as 0.05%, putting pressure on traditional commission structures. Remisiers counter this by building deeper client relationships and offering services that automated platforms cannot replicate.
ESG (Environmental, Social, and Governance) investing is a growing area of client interest. Remisiers who understand ESG screening criteria and sustainable investment products can serve this expanding market segment. Cryptocurrency and digital asset knowledge is also increasingly relevant, though these fall outside traditional CMSRL scope.