{"id":52296,"date":"2022-04-06T10:15:21","date_gmt":"2022-04-06T02:15:21","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=52296"},"modified":"2022-04-28T09:48:50","modified_gmt":"2022-04-28T01:48:50","slug":"buy-us-stocks-platforms","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/buy-us-stocks-platforms","title":{"rendered":"Buying US Stocks? Here\u2019s 5 Platforms That Have Made It Easier For Malaysians To Trade US Markets"},"content":{"rendered":"

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For any Malaysian investor, the benefits of buying US stocks have become more apparent in recent months. A quick check of US Wall Street’s S&P 500 index shows returns in double digits<\/a> in the last 10 years compared to Malaysia’s FBM KLCI which recorded a modest growth in the low single digits<\/a> for the last decade.<\/p>\n

Some investors are even willing to jump through hoops just to access these services in other countries – all in an effort to get hold of MAANG stocks \u2013 Meta (Facebook), Amazon, Apple, Netflix and Google (Alphabet).<\/p>\n

In the past, access to US stocks meant using a Singapore-based stock exchange and the addition of extra charges for money transfers from MYR to SGD to USD before you can actually buy US stocks. The growth of online trading platforms in Malaysia now allows retail investors to easily buy US stocks at a more reasonable rate with the same enjoyable perks.<\/p>\n

Rakuten Trade has just launched its newest service for US equity trading on its platform, offering Malaysians the opportunity to trade securities on the New York Stock Exchange.<\/div><\/div>\n

<\/span>What are your options to buy US stocks in Malaysia?<\/span><\/h2>\n

Malaysians have several options for trading international shares online. This has provided many opportunities for retail trading, for just about anyone to build their wealth through passive investments.<\/p>\n

These services allow for any amount to be traded, reducing the wealth barriers that once existed for investing on Wall Street. All from the comfort of your own phone.<\/p>\n

However, which service to use is not always straightforward. Not all of them are registered with the Securities Commission (SC), yet they remain popular with investors for their access to certain markets.<\/p>\n

Following are the digital investing platforms offering US Stock and ETF trading:<\/p>\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t
Name<\/th>Markets covered<\/th>Commission And Platform Fees<\/th>Investments<\/th>Fractional shares<\/th>\n<\/tr>\n<\/thead>\n
eToro<\/td>17 exchanges<\/td>0% commission for US stocks<\/td>Stocks, ETFs, commodities, currencies, indices, crypto<\/td>Yes<\/td>\n<\/tr>\n
moomoo<\/td>US, HK, SG, CN<\/td>Min. US$ 1.99 per order
\nMax. 0.5% * trade value per order <\/td>		Stocks, ETFs, options, futures<\/td>No<\/td>\n<\/tr>\n
Rakuten Trade<\/td>US, HK (coming soon)<\/td>Minimum US$1.67 to Maximum US$24 depending on transaction amount<\/td>Stocks, ETFs<\/td>No<\/td>\n<\/tr>\n
TD Ameritrade Singapore<\/td>US<\/td>0% commission for US stocks and ETFs<\/td>Stocks, ETFs, options, futures<\/td>No<\/td>\n<\/tr>\n
Tiger Brokers<\/td>US, HK, SG, CN, AU<\/td>Min. US$ 1.99 per order
\nMax. 0.5% * trade value per order<\/td>		Stocks, ETFs, mutual funds, options, warrants, futures<\/td>No<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

Many of the local banks also offer US share trading services like Alliance One Invest, CIMBiTrade, Hong Leong HLeBroking, RHBInvest and UOB Kay Hian Utrade, but may incur money transfer fees, plus higher transaction fees. Not all these platforms offer the convenience of a fully online journey.<\/p>\n

<\/span>How do you pay for your US stock purchases in Malaysia?<\/span><\/h2>\n

Funding your account depends greatly on where your preferred trading platform is located. A majority of these online trading platforms are based in Singapore, which means that you will need to convert your Malaysian Ringgit into SGD before it can be converted into USD. This translates to a higher currency conversion charge.<\/p>\n

To do this, you will need to either perform an international bank transfer or open a Singapore bank account. If you’re an existing CIMB account holder, you can apply for a CIMB SG account completely online. Then link your CIMB SG account with the local CIMB account. Transfer from CIMB SG to Tiger Brokers is at no cost and instant. However, if you don’t have a CIMB account, you could only choose to transfer via TT or Wise.<\/p>\n

There is an option closer to home – Rakuten Trade. Based in Malaysia, there are less proverbial hoops to jump through. You\u2019ll still need to perform a bank transfer to fund the account, but it\u2019ll be a more convenient (and cheaper) option. It\u2019s like making a normal cash transfer online and is reflected in your trading account immediately.<\/p>\n

What Rakuten Trade offers:<\/p>\n