You can buy US stocks from Malaysia through a broker that accepts Malaysian residents, but the lowest advertised commission does not necessarily mean the lowest total cost. Compare brokerage, MYR-to-USD conversion, regulatory and exchange charges, funding and withdrawal fees, and any promotion limits against the size and frequency of your trades.
Can Malaysians invest in US stocks?
Bank Negara Malaysia’s Foreign Exchange Policy says a resident without domestic ringgit borrowing is free to invest any amount in foreign-currency assets onshore and abroad. For a resident with domestic ringgit borrowing, the stated individual category is generally limited to the equivalent of RM1 million per calendar year when funding foreign-currency assets through ringgit conversion or a Trade Foreign Currency Account. Check the policy that applies to your borrowing and funding circumstances before transferring money; the rule is not a universal RM1 million cap for every Malaysian resident.
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Use a provider that accepts Malaysian clients and check its local regulatory status and investor-protection disclosures. A foreign-stock feature in an app is not, by itself, evidence that the provider is licensed in Malaysia.
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What makes up the real cost of a US-stock trade?
Calculate the cost from the MYR you pay to the USD you can actually invest, then include costs charged when you sell or withdraw. The advertised commission is only one part of that calculation.
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- Brokerage: Check the percentage, minimum and maximum per order, and whether a minimum applies to each order or can be reduced by aggregation.
- Currency conversion: Compare the broker’s MYR-to-USD rate with a reference rate at the same time. The difference is an FX spread, even when conversion is described as free. Check whether you can convert MYR to USD yourself and hold USD for later trades.
- Other trading charges: Look for regulatory, exchange, clearing, stamp-duty, and any security-specific charges, such as ADR fees. Which charges apply depends on the broker and the investment.
- Funding and withdrawals: Include bank-transfer charges, any broker funding or withdrawal fee, and conversion costs when moving money back to MYR.
- Access and order handling: Check whether fractional shares are available for the securities you want, whether you can trade only whole shares, and whether same-day orders may be combined.
- Promotion and protection: Read the offer’s duration, eligibility and exclusions, and assess local licensing and any applicable investor-protection arrangements.
For each broker, use the current fee schedule and the rate shown for your own funding route. A useful comparison is the total MYR required to place the same order, plus the estimated cost to sell and withdraw—not a commission headline in isolation.
How the brokers compare
The published information below is not a synchronized all-in comparison: it does not establish each broker’s current FX spread or the total cost for the same order. Treat the promotional terms as subject to change and verify them in the account-opening flow and current fee schedule.
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| Provider | Published US-stock pricing and access | What to verify |
|---|---|---|
| Moomoo Malaysia | Its Malaysia product page advertises $0 commission on US stocks for 180 days, investing from one share with no minimum trading size, and 24/5 trading. It also lists margin and short-selling support. | Current fee card, FX rate and spread, offer eligibility and expiry, and any other charges. |
| Webull Malaysia | Its Malaysia page advertises 0 commission and 0 platform fee on US stocks for one year, while stating that other regulatory costs still apply. | Promotion start and end dates, eligible instruments, FX pricing, and remaining charges. |
| Rakuten Trade | Its 2 May 2025 announcement lists US brokerage at 0.10% of trade value, with a USD0.88 minimum and USD25 maximum per transaction. | Current fee schedule, conversion route and rate, exchange and stamp charges, and eligibility for order amalgamation or fractional shares. |
| Interactive Brokers (IBKR) | IBKR publishes market-specific tiered pricing and warns that rates can vary by programme or arrangement. The retrieved Malaysia pricing table concerns Malaysia-listed stocks, not US stocks. | The US-stock commission for your Malaysia account, FX conversion, funding route, and any other applicable costs. Do not use the Malaysia-listed-stock figures as a US-stock quote. |
Moomoo Securities Malaysia Sdn. Bhd. identifies itself as a Securities Commission Malaysia (SC) Capital Market Services Licence holder (eCMSL/A0397/2024). Webull identifies Webull Securities Malaysia as SC-licensed and regulated (eCMSL/A0399/2024); its page describes Capital Market Compensation Fund protection up to RM100,000 for specified fraud, defalcation or mis-selling insolvency situations. Read the providers’ disclosures to understand the scope and conditions; the stated protection is not a guarantee against investment losses.
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How to compare costs for your order
- Set your scenario. Write down the MYR amount you plan to transfer, the US stock and approximate order value, how often you expect to trade, and whether you will need to convert proceeds back to MYR.
- Price the currency conversion. For each provider, record the USD amount available after conversion of the same MYR amount, using rates checked at approximately the same time. Note any conversion fee and whether USD can remain in the account for future trades.
- Calculate brokerage. Apply the commission percentage, minimum and maximum to your order. Add any regulatory, exchange, clearing, stamp-duty or security-specific fees listed for that transaction.
- Check the order pattern. If you make several orders in one day, see whether the provider combines eligible orders. If you invest a small amount, check whether fractional shares or a one-share minimum changes how much cash you must commit.
- Add the exit costs. Include the likely cost of selling, converting proceeds and withdrawing funds. Promotions may cover only selected charges, not these steps.
- Compare like with like. Keep a dated record of the quote, fee schedule and promotion terms. Recalculate when rates or terms change, especially before a material transfer.
Example using Rakuten Trade’s published minimum
At Rakuten Trade’s published 0.10% rate, the percentage-based brokerage on a USD500 order is USD0.50, below the stated USD0.88 minimum. The brokerage charge would therefore be USD0.88 under that schedule, before any other applicable costs. The same minimum can matter more on a small order than on a larger one; calculate the minimum and maximum for your own order value rather than assuming the percentage tells the whole story.
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When order aggregation or special securities change the calculation
Same-day US orders on Rakuten Trade
Rakuten Trade’s FAQ says eligible same-day buy orders for the same US stock and in the same settlement currency may be amalgamated at day end. Its example shows two USD0.88 brokerage charges becoming one USD0.88 charge after amalgamation. This can reduce repeated minimum brokerage, but only when the orders meet the stated conditions. Confirm current eligibility and how the final contract note records the charge.
US shares priced below USD1
Rakuten Trade’s FAQ states that, effective 1 August 2023, a 1% surcharge applies to monthly trading value in US stocks executed at a share price below USD1. Do not assume this is an ordinary per-order commission; check the FAQ and current fee schedule to understand how the monthly value is calculated.
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ADRs
American depositary receipts can carry costs beyond ordinary share trading. Rakuten Trade’s FAQ lists depositary-receipt, conversion, custodian, tax and trading-commission categories. In its ADR-tax discussion, it says a 15% withholding tax on dividends is applied to all foreign investors. That statement is scoped to the FAQ’s ADR discussion: verify the treatment of the exact security and your tax status rather than applying it to every US-stock dividend.
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Practical checks before opening or funding an account
- Confirm that the provider accepts Malaysian residents and check its SC licence or regulatory disclosures.
- Read the current US-stock fee schedule, not only the promotion banner.
- Ask how the account handles MYR and USD, and compare the actual conversion quote with a contemporaneous reference rate.
- Check which costs remain during a zero-commission offer, including regulatory charges and costs on currency conversion or withdrawal.
- Confirm whether your intended stocks support fractional investing, and whether small or split orders incur separate minimums.
- Review the funding and withdrawal methods, settlement currency and any bank charges.
- Keep a record of the pricing and terms you relied on, and recheck them before significant transfers because rates, charges and promotions can change.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
