Table of Contents
Finding Malaysia’s Best Stock Brokerage
This is how your typical trading screen would look like when buying and/or selling stocks online via any Malaysia stock brokers.
Opening Your Brokerage Account
After making your choice, familiarize yourself with the fee structure of your broker. Determine what is the optimal amount to invest every time and see if you can achieve that in every transaction. Do not be daunted by the account opening process. Just visit your broker’s office and you’ll be surprised how easy it is. The usual account opening fee is RM10. Brokers in 2025 no longer charger account opening fees.. they’re usually waived.
The required documents are:
- NRIC
- Bank statements (be sure to show all your accounts and personal details)
Minor update: MooMoo Malaysia and Rakuten Trade now allow you to open your account online. Hassle-free.
Malaysia Stock Broker Comparison
As requested by many of you, Malaysia’s top stock brokers for your choosing. They’ve all been ranked accordingly, with the top few being my favourite brokers.
I’m sure there are a few other brokers out there not listed in the table. I doubt they’re for the average investors anyway. I’m keeping the table super simple as I understand that most of us are only concerned with the fees charged.
All are for cash upfront accounts.
| Brokerage | Fee Structure | |
|---|---|---|
| MooMoo | ⭐️⭐️⭐️⭐️⭐️ | Malaysia Stocks: 1. 0 commission 2. Platform Fees: RM 3 / Order 3. Minimum: RM3 US Stocks: 1. 0 commission 2. Platform Fees: $0.99 / Order 3. Minimum: $0.99 |
| Rakuten Trade | ⭐️⭐️⭐️⭐️⭐️ | 1. <700: 1% 2. 700-10k: RM 9 3. 10k-100k: 0.10% 4. >100k: RM 100 5. Minimum: RM 1 |
| M+ Online | ⭐️⭐️⭐️⭐️ | 1. 0.08% < 50k 2. 0.05% > 50k 3. Intraday: 0.05% 4. Minimum: RM8 |
| Kenanga Trade | ⭐️⭐️⭐️⭐️ | 1. 0-100k: 0.42% 2. >100k: 0.21% 3. Minimum: RM28 |
| TA Securities | ⭐️⭐️⭐️⭐️ | 1. 0.12% 2. RM10 |
| Hong Leong Bank | ⭐️⭐️⭐️ | 1. 0.10% 2. Intraday: 0.10% 3. Minimum: RM8 |
| Affin Hwang | ⭐️⭐️⭐️ | 1. <10k: RM5 2. 10-100k: 0.08% 3. >100k: 0.05% 4. Minimum: RM5 |
| AM Equities | ⭐️⭐️⭐️ | 1. 0.05% 2. Minimum: RM8 |
| CGS CIMB iTrade | ⭐️⭐️ | 1. 0.42% (iTrade) 2. Minimum: RM28 (iTrade) 3. 0.0388% (CIMB Clicks) 4. Minimum: RM8.88 (CIMB Clicks) |
| Maybank Investment | ⭐️⭐️ | 1. 0.1% 2. Minimum: RM8 |
Table updated as of 2025
Some of the fees may change from time to time, so for those of you who managed to get the latest figures, please drop me a message or comment and I’ll update it accordingly. Also, if your current broker isn’t on the list and you think they should be, give me the figures!
I want to keep this table up to date so as to help everyone pick the correct brokers to invest with. Remember, when choosing your broker, don’t just pick the ones with the lowest brokerage fees. Go for the ones that match your needs.
The Differences Between Malaysia Stock Brokers
Apart from fees and their fee structures, I’d say brokers are all similar provided you are trading online yourself. If you’re thinking of using a remisier, think again because you’ll be charged much higher fees and those fees add up and eat into your returns.
Although, one big advantage Rakuten Trade has over other brokers is that they offer rewards when you trade and take certain actions on their platform. No one else in Malaysia offers this. Which is why I am recommending them below.
My Recommendation
Right now, for beginners – I’d suggest going for MooMoo and Rakuten Trade.
Use the above links to get exclusive referral codes. You’ll get a headstart on investing with the discounts, gifts and even free stocks from MooMoo and Rakuten Trade.
They’ve both got one of the easiest account registration processes and you can do it all online.
Malaysia’s Best Brokers and Share Trading Account
MooMoo Malaysia
They’ve just landed in Malaysia not too long ago and are quickly becoming number one in my books. I’m using both MooMoo and Rakuten right now.
You can find my in-depth review on MooMoo hERE. And my review on Rakuten Trade hERE.
I like the CashPlus feature of MooMoo where they put your uninvested funds in money market funds to earn you returns. Fees are great and they have lots of rewards for users in-app. Don’t forget to use my referral code and link when you sign up.
Registration link: https://j.moomoo.com/00KiPh
Referral code: DM77
Rakuten Trade
I’m gradually switching over to Rakuten Trade from my first stock broker – Hong Leong.
You get rewards in the form of RT points for trading. No other brokers offer this.
I’ve also come to appreciate the fact that they’re offering a nominee account that doesn’t charge fees for corporate actions. I no longer have to go to the post office and handle my own subscription of dividend reinvestment plans and whatnot. This is one of the biggest wins for me.
Also, their fees are relatively cheaper. RM7 when you trade below RM1,000 and an RM100 flat fee for trades above RM100,000. For transactions in between the RM1,000 and RM100,000 range, they’re at competitive market rates. Similar to Hong Leong and Maybank etc.
Account registration and opening can now be done 100% online!
Registration link: hERE
Referral code: DIVMAGIC
Hong Leong Bank
Update 2025
I’m currently no longer using Hong Leong Bank and based on my experiences, the services offered are top-notch. Yes even with their slightly higher fee, I’ve had zero problems with trading and customer service has been excellent. They also grant users complimentary access to charts and research. The main one I use for my research is Equities Tracker.
Malaysia stock brokers like Hong Leong Bank and many other banks have not kept up with the times. Brokers like MooMoo and Rakuten Trade have offered 100% online registration, much lower fees and tons of free gifts to users. Banks are lagging way behind and it looks like they have no intention of keeping up.
Other Brokers
I have personally tried one other broker apart from the aforementioned two. Jupiter Securities. Unfortunately, I found them to be subpar in comparison. Jupiter is now known as CGS-CIMB iTrade.
Also, I should mention that I’ve been hearing great stuff about M+ online. They have one of the lowest fees among Malaysia stock brokers.
If you’re going for convenience and you like the majority of Malaysians bank with Maybank, I’d say just go ahead and open an account with them. You can access your stock trading account via M2U directly.
My US Stocks Investments
I’ve recently taken the Freedom Fund international – specifically to the USA.
If you are keen on investing in other assets other than Malaysia, I’ve compiled an article comparing the various international brokers available to us as Malaysians hERE. The off-shore broker I’ve chosen and picked to go with US stocks after some deliberation is eToro.
End.
Now you’ve got your brokerage account set up and you’re ready to invest, it’s time to determine the companies you’d like to invest in. You’ve got to know the company and industry like the back of your hand before you invest. If you’re a total newbie when it comes to investing, here’s a Guide to Stock Investment.
Have a look at my philosophy of Dividend Income Investing as well as The Complete Guide to REITs in Malaysia to get you started.
For the next article of the Investing Series, check out article 004 – US and International Stock Broker Comparison.
As always, my Facebook, Instagram. Follow, keep up to date.
Leave Your Comments!
Lastly, if you’ve got anything to say about any Malaysia Stock Brokers, drop a comment so everyone will know. If you’re planning to change from one broker to another, tell us why! Tell everyone. Let’s keep it civil.