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QuestionsCategory: MiscellaneousWhich broker account/platform to trade foreign shares for Malaysians.
Lydia Tan asked 1 year ago

What’s your recommendation on which trading platform to use for Malaysians and what has the experience been like ? Thanks ! 

2 Answers
Victor Chng answered 1 year ago

Hi Lydia,
 
I am not a Malaysian hence I am unable to recommend a broker to suit your needs but I have a Malaysia colleague. I will get him to reply this question. It will also be good if you can specific which foreign counties, you are looking to invest in. 

Chee Hoi Shak answered 1 year ago

Hi Lydia,
Just sharing my experience of opening 2 brokers based in Singapore to trade foreign shares, I actually opened 2 brokerage accounts, Saxo Capital and FSMOne SG.
Personally, I find the customer onboarding process of FSMOne easier and better. The FSMOne interface is easy to use and supported by an AI live chat function where customers can get their questions sorted out quickly. I will be charged RM70+ and RM180+ each time I transfer money from my bank accounts to FSMOne SG and Saxo Capital respectively (even before I place any trades / brokerage fees). This is also the reason I stick to FSMOne SG. The downside with FSMOne SG is that its brokerage fees are slightly higher than those of Saxo Capital and I can only buy SG, HK, US shares with FSMOne SG. Saxo Capital supports more other foreign shares from more exchanges.
Please note that you will need to open a brokerage account with FSMOne SG side as the MY side doesn’t support shares trading.
You can also take a look here at the comparison made by Adam. https://fifthperson.com/how-to-buy-us-shares-in-singapore/
Just sharing the brokerage rate of Hong Leong in 2019 in the attachment as well, in general, the brokerage fees are higher than those charged by FSMOne and Saxo Capital.
Chee Hoi

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Lydia Tan replied 1 year ago

thank you, Chee Hoi