Although investing in foreign stocks can take you out of your comfort zone, it isn’t necessarily a bad thing.
Investing in foreign listed stocks can be beneficial for many reasons. One great idea is diversification: whether it’s diversification of assets or currency. The benefit of this is obviously to spread out investment risks. Dealing in a plethora of different currencies will help you cancel out global currency fluctuations.
Another apparent reason could be to keep your money ‘offshore’. There are thousands of Major Corporations overseas, such as South Korea for electronics, Brazil for steel, Australia for mining and USA for technology. Some big corporations and brands have given investors incredible rates of return!
Two Ways for Foreign Stocks Investment
There are basically two methods you can trade in foreign shares.
Method 1: Use a foreign broker
Open a trading account in the country where the respective stocks originate from. For instance, if you want to invest in an American company, open a trading account in the US to buy shares at the New York Stock Exchange (NYSE). In this way, you can keep your transaction costs to a minimum.
Advantages:
- Better trading platform and software
- Lower cost of transaction
Disadvantages:
- More hassle to open an account (you might need to mail some documents overseas)
- More troublesome to fund the trading account (some banks won’t allow you to do it online, but only through the counter with documented proof)
Update 2 Sept 2021
Recently I got to know Philip Capital POEMS platform in Singapore. Malaysian investors can do bank transfer to their Malaysia Maybank account. Your fund deposit will then be credited to your Singapore POEMS stock trading account in Ringgit. There, you can do currency exchange at market rate when you need it to buy foreign stocks. Opening a trading account with POEMS is entirely online, and free of charge. Click here to start if you are interested.
Method 2: Use a local broker who provide foreign stocks trading facilities
Open a global trading account in Malaysia associated with the local investment banks and security firms, and purchase foreign shares. The location of your assets will be considered local, although technically your money is invested overseas. This provides convenience, especially when taking money out to fund your retirement, or transferring your wealth to your children.
Advantages:
- Convenient to set up with the local brokers (walk in or contact the local brokers to assist you)
- Easy to withdraw fund
- Can be included in your Will for estate plan (easy for your heirs to inherit it)
Disadvantages:
- Relatively higher cost of transaction
Means of investment
You’d be surprised at how many brokerage firms and investment banks there are in Malaysia that aid in foreign investment. So here are just a couple of prominent banks that provide global share trading. This is by no means an exhaustive list, but only an example of the diversity and their rates and services.
| Provider & Product Name | Online/Overseas transaction fees/Brokerage commission | Other fees | Dividend Fees | ||
| NYSE (USA) | SGX (Singapore) | ASX (Australia) | |||
| eAlliance Share | Either US$ 20 min. or 0.15%, whichever is greater | Either SGD 25 min. or 0.10%, whichever is greater | AUD 35 min. or 0.25%, whichever is greater |
|
|
| JF Apex | Either US$ 29 min. or 0.35%, whichever is greater | Either SGD 25 min. or 0.18%, whichever is greater |
|
| Commission: Less than RM100,000: 0.06%, More than RM100,000: 0.30% of contract value. |
| CIMB I*Trade | Either US$ 25 min. or 0.40%, whichever is greater | Either SGD 28 min. or 0.42%, whichever is greater | AUD 50 min. or 0.70%, whichever is greater |
| Scrip S$20/US$15, Cash US$10-80, 1% on net dividend |
| HL Brokering (used by PC Wong, thetrainer of Invest Foreign Share) |
|
|
|
| Corporate excise fees for dividends flat rate RM2.50 |
| Jupiter Online | Not Applicable |
| Not Applicable |
| Dividend processing 1% RM5 min -RM100 max |
| Maybank2u | Either US$ 25 min. or 0.40%, whichever is greater | Either SGD 25 min. or 0.40%, whichever is greater | AUD 60 min. or 0.40%, whichever is greater |
Clearance fee 0.04% (Singapore) |
|
| Public Invest e-Trade | Either US$ 50 min. or 0.80%, whichever is greater | Either SGD 40 min. or 0.75%, whichever is greater | AUD 60 min. or 0.80%, whichever is greater |
| Dividend Reinvestment/Handling RM2-65 per payment/ dividend cheque. Dividend Reinvestment Plan (DRP) subscription: RM2-65 per (with additional stamp duty fees) |
| RHB Invest |
|
|
|
| n.a. |
| SJENIE | Either US$ 35 min. or $0.05%/share, whichever is greater | Either SGD 50 min. or 0.25%, whichever is greater | AUD 50 min. or 0.50%, whichever is greater |
| n.a. |
| Utrade | Either US$ 30 min. or 0.42% for <RM100,000, whichever is greater |
| Not Applicable | HKEX (Hong Kong): Either 0.30% for >RM100,000 min. or 0.42% for <RM100,000; whichever is greater | SGD 1 with GST for less than or equal to dividend SGD 10; SGD 5 with GST for less than or equal to dividend SGD 500; 1% of dividend capped at SGD 25 with GST Dividend greater than or equal to SGD 500 |
Find a suitable US stocks trading provider
There are lots of stockbrokers out there. The only way to find a suitable one for you is actually to do your homework on them!
For instance, my friends from Intel Penang use Ameritrade. Their unbeatable fees and various other facilities, like 3rd party research, makes it highly trusted and efficient!
On the other hand, Interactive Broker is highly recommended by Peter Lim, trainer of Bursa Method, for its low-interest margin financing facility. In contrast, I used to purchase stocks with Wells Fargo Trade because I have an account there when I stayed in the US between 2011-2012. But since I migrated to Oregon in 2018, I had switched to use Interactive Broker ever since.
No matter which brokerage firm or method you use, it is vital to invest safely in good companies. Don’t speculate. Do the research and invest safely based on value investing method.
Want to know more info? Check out my course Bursa Method and Invest Foreign Share.
Stock 101 Quiz
124 replies to "How to Trade Foreign Stocks from Malaysia"
Hi there, I would like to buy Adani shares in India from Malaysia… But I don’t seem to know which broker to buy from? How do I go about it
i want to invest in Hk stock. what is best broker i can use? is tiger broker is good?
Hi KC,
I have been investing with TD Ameritrade for multiple years by myself and thought of consistently funding my account and acquire more position in great companies for long term purpose such as 10 – 20 years timeframe.
So far I am not too certain whether do I need to fill up any forms or declare myself with the country that I am investing overseas?
As of now I would not perform any withdrawal unless I needed it and I had the concern if one day I would to liquidate the entire account and transfer back the funds to Malaysia, would I be question that I did not declare myself etc.
If there are such process, please let me know and I would willing to do so instead of investing 10-20 years later been told the money to be freeze for further investigation etc.
Lastly, Malaysia also block TDAmeritrade website which is another red flags.
Hi Brandon,
I understand your concern.
To prevent future complication, you need to save your transaction documents
– transfer slip
– annual portfolio report
When the authority question the source of funds, you just need to show that documents to clear the doubt.
Hi KC,
Thanks a lot for the inputs and will definitely do so, besides than that have you heard of any retail investor who required to declare or get permission from BNM / SC that the individual are investing out of home country.
Hi Mr Lau, do you know which platform can trade both London and Canadian stocks ?
Thank you !
I use Interactive Brokers to buy London & Canadian stocks. I think most brokers provide that. You can check with your preferred brokers.
Hi KC, my friend invest online on etoro with no broker fee, is it a safe platform? How abt other online platform to trade foreign shares?
Hi KC, may I ask how we can buy ipo listed in HK market ?
Check with your brokers. Usually they will be able to arrange for your IPO subscription.
anyone tried tiger securities for US stock trading?
Foreign share trading through Malaysian brokers: do these brokers give competitive exchange rates when setting purchases/sales in foreign currencies vis-a-vis MYR? Specifically how do they compare with bank forex rates?
Can we as a Malaysian invest or trade using the Robinhood app to buy US stocks?
Mr KCLau/anyone,
how to invest in KOSDAQ stocks? any recommended brokerfirm/website?
thank you
Hi All, Good day.
Does anyone know any broker (preferred online access) that offerring South Korea market trade for individual Malaysian? Especially on stock product KOSDAQ. Korea market is not that popular compared to US, UK, HK markets thus really appreciate if someone could help. Thanks in advance and stay safe 🙂
Hey kc, does you know the pattern day trading rule apply for Malaysians? Because I can’t find any information online.
Hi KC,
I tried funding into interactive broker and TDameritrade but was rejected by both Public Bank and OCBC on the 4th June 2020.. They claim that their bank has blacklist both broker as they deals with forex (which most major brokerage firm inn US does). I tried explaining that i wanted to trade stock but they say i can’t wire out to fund this 2 brokerage firm.
However, i do hear of ppl that successfully funded in via public bank and OCBC as recent as last month over the counter.
Can you recommend me a bank that allows me to fund in directly either via online or over the counter?
I don’t know the banks’ policy now as it keeps changing.
Another alternative – open a bank account overseas that allow you to do transfer.
For example, you can have a CIMB Singapore bank account, transfer RM to SGD, then fund your Interactive broker account through CIMB SG.
I use Maybank online for the FTT, so far no issue, funds arrive at my IB Pro trading account by evening same day. I pay the USD 15 bank charge on the other side. Maybank charge the RM10 and the forex gain. So far haven’t cash out yet so i’m not sure how troublesome. Used to be Schwab in Singapore but then Schwab closed down their Singapore office. No trouble at all transferring back with auto conversion from USD into Maybank RM account.
It’s true, with Public Bank, for Ameritrade and IB, you will have difficulty getting the transfer back. My SIL sold her USA stocks recently in May 2020, PBB held the funds (about USD 10K) for about 1 month. They asked for multiple reports to show it’s stock trade and not forex. Until the point my SIL wanted to file complaint with BNM. Then, within the next working day, PBB release the funds.
Hi, can so you have any comment/ opinion on using Etoro platform to buy US stock? No meant for copy trading, more to personal/own trading- For long term investment & for non active trader. Just toallocated investment.Is the platform convincing & trusted and can be use by Malaysian?
Define ‘can’.
I have an account with eToro. It is hassle-free, funding via credit card is also a breeze… instant funding. I have even tried cashing out, I got the fund credited to my bank account within 2 days. But that was just a small amount, around RM1.5k… I was just testing the water. Not sure what would happen if the amount reaches tens of thousands of ringgit. Probably that could trigger alarm/alert by the bank system. Honestly don’t know.
If your definition of ‘can’ is whether eToro is registered/regulated under Malaysian law, then the answer is a big NO. They claim they are regulated under Australia financial law, I did not bother to verify, but I trust their statement, they seem pretty legit.
I now have how around USD30K in eToro… I purchased TSLA mostly… bought it at around $400 something last time. Good timing I guess, TSLA is now 2K++.
Planning to invest more, but I am not comfortable putting too much money with them. So I have applied for Ameritrade but it has been several months and Ameritrade account opening is very slow… probably because my income is low. If my application is rejected there I will just apply with Maybank… I don’t like Maybank because their platform is so archaic… but what to do…
Hi KC,
Thanks for the article. Been following you for a while. I’m currently residing in Malaysia.
I have funded TD Ameritrade with Malaysia CIMB bank account. What’s the best way to withdraw it? To Singapore CIMB account, or directly to Malaysia, or other ways…?
Other than cost concern, I’m also more concerning on whether BNM will kacau anything…
Thanks!
When did u register for Ameritrade? and how long did it take to get approved?
I submitted my application last June…, still not approved, last communication was my salary slip is outdated and they requested me to furnish latest. I have done that, that was a month ago… and now they are silent again…
Anyone here or KC successfully TT fund to interactivebroker from Malaysia? I read 1 comment here on 2016 which begin rejected.
My situation is different since I have US bank accounts.
For most members who are in Malaysia, here is the route to do it and currently the most cost effective way:
Transfer from CIMB Malaysia to CIMB Singapore (RM to SGD)
Transfer from CIMB Singapore to Interactive Broker (SGD)
Convert USD to SGD in Interactive Broker
Here is where to open CIMB Singapore Fast Saver account online:
https://www.cimbbank.com.sg/en/personal/forms/accounts/cimb-fastsaver.html#!
Shared by Nicholas Oh:
for those who want to get a primer on opening international brokers, someone wrote about it here
https://choivocapital.com/2020/05/03/nuts-and-bolts-of-investing-overseas-opening-a-foreign-brokerage-account-interactive-brokers/?fbclid=IwAR2HvqLl42y–p5uBx7kRF6If7Kdx2ws1773lKFH1z2ijZBsN7qcDRkSZmQ
Thanks, KC.
Went to CIMB Fast Saver and kena stuck at eligibility.
Eligibility & Requirements
Singaporeans, Singapore PR, Work Permit or Employment Passholders
Minimum age 16 years and above
Individual or Joint Application
I guess will just have to depend on other brokers.
I have used my CIMB bank account and also Transferwise to transfer funds to my IB account. I get a better rate from Transferwise and am able to avoid the USD15 bank wire fee that IB charges if I transfer from CIMB as Transferwise uses ACH. However, IB holds the funds for about 5 working days after receiving it before they release it into my account. This happens with both CIMB and Transferwise.
I have not tried KC’s method
Azrif,
Do you do the transfer to interactive broker via online or over the counter because i heard that online is limited to RM10k per transaction per day. If i wanted to fund in say USD 20k then i will have to do it online for 9 times daily which is a hassle and also lose out on conversion rate and also the bank charges.
Can please advise or share your thoughts?
Hello Azrif,
May i ask how you fund using transferwise ach ? Brokers need your name on the transfer.
Thank you.
Hi Lau,
Could you please advice how could one in Malaysia trade on line for stocks in India. many thanks
kavin thayalan
how can i purchase stocks from china or hong kong ? Which broker does offer those services for malaysia?
I wish to know too, HK can purchase with globally trading account but how about China Market?
Do you recommend any platform to buy stock at nasdeq
Hi KC Lau, do I need to do any filling tax for us government if I do trading in US stock market ? Do I need to pay any tax to us government for any trading profit ? Please respond to my message thank you
Capital gain on US stocks is required to file tax for US residence. Since you are not, so you don’t have to pay US government for the capital gain.
But dividend declared and distributed by US stocks will be subjected to withholding tax. So you won’t get 100% of the dividend income.
Hi KC – just to clarify, if I am residing in Malaysia (Malaysia citizen, tax resident in Malaysia, having no U.S. residency etc) but have local bank (HSBC) and brokerage (TD Ameritrade) account in the U.S., I invested in US stock listed on NASDAQ and made a profit when I sell my stock on NASDAQ and kept my sales proceeds in my U.S. bank account – will I be taxed by the U.S. tax authority on these profit? On the other hand, If I remit the fund from the sale of these stocks back to Malaysia (to a Malaysian bank account) would I be liable to pay tax to Malaysia tax authority?
There is no capital gain tax on non-resident of the US for the stock trading activities in US market.
US only withhold tax for dividend payout from your US stocks. That means if your stocks don’t have dividend, you will not get tax at all for all the profits, as long as you are not a US tax resident.
Malaysia government also don’t tax on capital gain or dividend.
But do note that for an active trader who trades several times a month and often make profit in the short term (weeks or months), it is considered trading and not investment.
Then IRB Malaysia might require you to file all your profit as business profit, and subject to income taxes.
Hi,
Just got a call today from a Public Bank banker who told me E*TRADE Securities LLC is on a black list as of 2019, the problem is all the stock options and ESPP shares from the company I work at are done via E*TRADE.
I was wondering if you have any insight about what this blacklist is about and is it a temporary ban? And what are my options for cashing out my stocks back into Malaysia.
Thanks
Phil
Hi KC Lau,
Thanks for your sharing. Currently I have CIMB itrade account and I use to trade for Malaysia stock only. If I trade for US stock, the commission USD25 is for each buy and sell transaction?
Rgds,
KT
Many trading platforms in US offer 0% commission. Look up etrade.com or Fidelity. In order to open an account, you probably can apply EIN from IRS.gov. You would have to file your taxes on all your capital gain.
TD Ameritrade, US shares transferred to TD Ameritrade Asia.
Can trade US Options
//Segar
I have the opposite problem, I would like to trade Malaysian stocks but I do not know what would be a good online brokerage to do so. Currently, I live in Malaysia and I trade US stocks.
Can try RakutenTrade.my
I use Rakuten. Convenient and easy UI
//Segar
What app u using in Malaysia to trade with us stocks
Hi,Mr.Lau
Can we trade us stocks like option trading through “Interactive Broker”? According to Interactive Broker we have to wire transfer the initial money deposit. Do the Bank Negara Malaysia or the bank let us do that to send money oversea? Last question, the profit that make oversea, do we have to report and pay government tax?
1. Some banks will ask you to show some documents – that you have a trading account with Interactive broker and initiated the transfer
2. Yes you can trade options there too
3. Capital gain and dividend income is non-taxable by Malaysian government. But some countries will withhold part of your dividend income as taxes (e.g. US)
what are the tax implications for an investor to invest in US stocks from Malaysia? Also is there any limit cap of investment in a financial year?
There are no capital gain tax for Malaysians to invest in US stocks. But the dividend will have withholding tax.
Boss, do u hv class of trading foreign stock by using interactive brokers or others platform??
check out https://BursaMethod.com
I highly recommend this course, trained by Peter Lim
Can you also include HKEX in the costs column?
Thank you.
Hi KC Lau,
can malaysian trade future using foreign brokerage?
as i concern, money would be blocked if the Tele- Transfer profit was from future.
Just learn that TD Ameritrade no longer doing business with Malaysia. And I just learn that all my stocks were liquidated. Wondering if you still able to keep the US stock trading account like TD Ameritrade, Etrade?
Try InteractiveBroker
I just tried doing a TT over the counter at HSBC today. They refuse to transfer to Interactive broker due to not being approved by BNM. Asked me to contact BNM directly to get approval. Anybody experienced this b4?
Your TD Ameritrade US will offer you to transfer to TD SG, their Asia supporting office.
Hi KC Lau
Is there any course or training on index option trading on US market in KL ?
I don’t have any course on technical trading.
CFD Trading is now very popular in Singapore, with IG Trader and CMC Markets and City Index which are trusted and reputable. The best platform is still LCG London Capital Group, but then LCG is being delisted from AIM and taken private. Other CFD Traders which I found out to be SCAM and not trusted such as XTrade, Plus500 and AVATrade. For FX trading in Forex, a reputable one should be FXTM.
Btw, retail investors can definitely short US stocks through thinkorswim. the interest is steep often more than 10% pa but of course also depends on the stock.
I am a Malaysian living in Hong Kong. From reading the comments, I get the impression that it’s not easy for Malaysians to trade the HK market. Is this observation close to reality?
To trade specifically in HK, the local Malaysia Public Bank provide a good solution, since they have branches in HK too.
Relatively High Cost
Relatively High Cost 0.5% dealing comm. Can get 0.25% Anyone have better deal, pls help
Hi Mr Lau,
U are saying dat, Public Bank provides the best solutions? Other than Public bank. Which bank can i buy the HK stock market?
Hi KC Lau,
We can use CFD (Contract for Difference) Broker / Trading Platform to trade the price movement of US stocks, not the real stock. Example, CFD have a Leverage effect, say you buy a US Stock at USD150, using CFD Leverage you only pay USD15 to buy a share. Using CFD you can Go Long or Sell Short. There are many CFD Broking Apps available, such as ThinkorSwim, IG Trade and Interactive Brokers.
Do one have to open 2 separate accounts for stock trading and another for futures trading on foreign shares ?
Also, can a Malaysian shortsell foreign shares, because for BURSA, it is supposed under RSS.
All in all, it is more convenient and overall cheaper to just open a trading account in the US for the transactions above ?
You need separate accounts to trade derivatives, or foreign shares, or local stock.
I am not sure if we can short-sell foreign stocks with a local account.
Dear KC Lau,
From the above, I noticed that you’ve included RHB Invest and SJENIE as having the London Stock Exchange. Can you confirm if they do provide LSE ETFs?
Are these foreign share trading allow Malaysian to short the share as well? Another silly question, any available platform which provides foreign option trading?
Having same question as yours if Malaysians can short US shares ?
Isnt there a BNM rule that states that Malaysians can only trade securities with a locally regulated brokerage firm?
No sure though.
Hi KC Lau
I’ve heard non US citizens like Australian people using Interactive Broker unable to short US stocks. Is there discrepancies between US citizens and non US citizens using Interactive Broker ?
Thanks
Not sure about that. Better ask Interactive Broker support team.
No problem to short but not naked short. All short must be covered.
How do I invest in Canadian stocks?
Do Malaysians who invest in Canadian stocks get to be a permanent resident there?
Can trade Canadian stocks with the local brokerage firm that offer such service. Or you can open foreign trading account with international brokerage firms like Interactive Brokers.
About the PR status, I don’t know anything about it.
is it legal under BNM/SC regulations for Malaysians to trade directly with non-resident brokers
When your money go overseas, it is not regulated by the local authority anymore. So you will have to trade at your own risk.
Hi KC Lau,
I have a question regarding ASX. I would like to sell and let go all my shares. Can you suggest to me any way to do that? if i need to go through a broker, may you suggest one? thank you.
Do you have online/overseas transaction fees/brokerage commission for NASDAQ?
i use ameritrade previously. 9.90USD per transaction.
Hello. I just learned that BNM does not allow deposit to TDameritrade anymore. Bummer. Any other option?
Not all banks forbid that I think. You can try different banks especially the oversea banks operating here. Most of the times, they need you to show the document proof of your overseas account.
Thanks a lot, Joe. I really appreciate it. 🙂
For method 1, open a trading account, you mean like “Fidelity investment”?
Hello Kc,
just reading your article and i have a question, if we using us broker(exp ameritrade) it will be charge 30% tax for each dividend distribution ,and how to we claim back the interest?
You need to fill up US declaration form that you are not US citizens. Pls check with your stock broking firm
Hi KC,
Could u please comment on financial.org? It provides auto trade and big margin to trade in Nasdaq.
This company based in London and one of the F1 William Martini sponsor.
https://financial.org
Thanks
Hi Sadruddin, I don’t use it so have no experience to give comment.
Do you recommend any platform to buy stock at nasdeq
I use Interactive brokers.. but there are many for you to choose from nowadays.
Financial.org is an educational platform. They DO NOT deal with securities and receive any financial benefits from Financial Products & Service Providers.
Hi, KC. Thank you for sharing. To trade in US market, will you suggest to open an USD account in Malaysia first, for all the wire transfer and withdrawal. Which bank will you suggest?
Hi KC, I am ex-intellier holding their stock option and wanted to sell off. somehow the Intel support are not straightforward therefore I am asking if you have the knowledge of how I can sell my stocks in Malaysia. Tq and appreciation your reply.
Normally, the trading account created for you by your employer is still valid after you left. I suggest that you talk to the HR department to get more info.
KC, thank you.
Hi, KC. Nice to meet u. Do u have any opened talk bout basic stock invest in somewhere at selangor state?
Hi Kayson, I seldom do physical seminar talk. But you can check out my online courses.
Dear Mr Lau,
Your articles is awesome & I forwarded to others friends too. Will write an article soon about the overseas broker, for e.g: Ameritrade, Interactive Broker & Wells Fargo?
Best regards,
Yoke Wah
How I can I trade the small penny dreadful stocks on the ASX if I am Malaysian.
I don’t have account in Australia
I don’t want to buy the expensive blue chip companies
I only like up and coming companies and many of these are not covered by brokers.
So..is there any way I can get a platform to make my own trades without having to ask a broker to do this for the ASX only?
Hi. Please advise if there is any withholding tax on dividends if I invest in hk or us market? Also which way is more cost efficient to trade foreign markets?
Thank you
Hi KC Lau,
Thank you for sharing your knowledge. I am fairly new to this and forgive me if these are newbie questions but I would like to know:
1. if the fees in the table above are still valid?
2. when we sell to cash out and TT money back home, will we be subject to withholding tax?
3. when we TT money back to malaysia, will we be subject to any taxation locally?
Best
Nik
Hi Nik,
1. Fees schedule might not be the latest – it is subjected to change. It is best you verify with the service providers.
2. That depends on the country of your brokerage account, and the tax law. I am not an expert in this and you will have better info if you ask directly from the service provider.
3. Local Malaysia government don’t tax money made oversea yet, as I know. But that may change also. It is best to consult a local tax accountant.
How can one buy shares of other countries like the UK, TSX, or even the latin american corps ?
Hi…I got us share in rhb invest….recently was giving dividend…but there was dividend handling fee amount of 2.61usd instead of net dividend amount 4.64…may I know how to calculate the fee?
I think dividend handling fee is charged by your broker. You need to ask your broker about the charges calculation.
Hi KC, would like to know if tax is applied to capital gains from US market investment, does malaysia inland revenue board impose any of this?
As far as I know, capital gain made in the US market is taxed if you are a US resident, and being taxed by US government.
If you are Malaysian making capital gain from US share market, there is no tax since Malaysia government don’t tax capital gain. Check with your accountant to verify.
Hi KC,
suppose i open a local malaysia account denominated in USD, i should be able to wire in USD from my account to ,say, ETrade directly without conversion charges, correct? If this is so, are there any hidden tax or issues related to this method, and receiving dividends and capital appreciation from USA to here in Malaysia?
Where do you think i can get a professional advice on this?
thanks, your articles are very helpful, keep the sharing alive!
I am not sure of all this. I think you should be able to check with the bankers providing this service.
Hi KC,
I am planning to open a HK broking account. Just wondering if you know of any broker in HK?
Thank You.
Hi Keith, sorry I don’t know any broker there.
HI KC LAU, first of all, thanks for the knowledge. a question here, I heard my friend said it is hard to transfer money to oversea platforms such as IB and another platform because these platform involved in forex trading, and some of this are listed in BANK NASIONAL MALAYSIA that we couldn’t transfer money to their bank. do you have any other ways to do that ?
Hi KC, thank you very much for sharing your knowledge, I have one question, is trading with non local bank but with website like etoro the same? I heard that you can buy and sell stock in that website but I am doubting is that kind of website really giving you real equity or is it just a platform simulating synthetic purchase and did not go through the stock market? And even if it is real equity trading, is it allowed in Malaysia?And also I am wondering is Bursa Malaysia involved when it comes to foreign stock trading with the local banks/brokerage you mentioned?
I’ve never heard of etoro though. so no comment on that.
I am not sure of who is actually governing the foreign share trading provided by the local bank. I think it should be the Bank Negara, not Bursa Malaysia.
Your info for Alliance IB is not really accurate as you had left out pertinent details. In addition to the fees stated in your list, one need to add Alliance off-line/phone-in fees. Alliance IB foreign share trading are done off-line (i.e. phone-in, no online trading).
Hi Anderson, thanks for clarifying that.
if we trading ofline, ie through phone, are the fee still same, 0.15% ?
Recently, I came across a forex trading acct where the foreign broker shares a portion of it’s brokerage fees with it’s cstmrs., as a result they are able to use a more conservative trading position, as they need not have to rely on big spread in pips profits, but rather than the share of the brokers commission.
Can you comment on this ?
Regards.
alex
I think a lot of FX trading platform is profiting from this in order to get their members to refer and close more sales.
I don’t personally trade FX though, no trading for me.
Fxunited is a scam broker. You should not fall for that commision sharing plan. This is a shame in fx industry. Newbie always fall for lucrative offer and then blame the whole industry when they are fucked.