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Looking to trade and invest in US and international stocks as a Malaysian?
I’m initiating this article because I’ve received messages from readers with concerns about the current broker I’m using – eToro.
Many have quoted an article by the Edge highlighting that eToro isn’t licensed under the Securities Commission of Malaysia (SC) right now. I’ve continued to use eToro because they are licensed by Australia’s SC equivalent – Australian Securities and Investments Commission (ASIC).
Nevertheless, I’m inclined to give Malaysian investors alternatives to eToro because at the end of the day, choices help us make decisions. And I don’t want anyone to use our local brokers because as you’ll find out later, the fees you pay is downright crazy.
Another important thing to note is – like eToro, all international brokers I’ll be mentioning that are actually worthwhile to open a brokerage account with are not licensed with SC. They do have jurisdiction in different countries though which I’ll mention later in the article.
Local Brokers
Let’s start off with what NOT to use. Here’s an example of a local broker I used to trade – Hong Leong Investment Bank.
I actually made a significant amount from investing in Berkshire Hathaway (B shares) and Vanguard’s S&P 500 ETF. I didn’t keep track of the fees I paid to purchase those stocks but trust me they weren’t little. But, holding the stocks for the long term helped mitigate that.
What I didn’t realize was this..
Why you shouldn’t use local Malaysian banks to trade internationally.
This is the supposed dividend I was to receive from my Vanguard ETF. USD20. After deducting all the fees – I’m left with 52 cents. Thank you local brokerage.
I hope I’ve made the case for not using our local brokerages to trade US and international stocks.
Moving on!
Best Brokers – Brokers I Use to Trade Internationally
MooMoo Malaysia
As of 2025, I use MooMoo for most of my local and international trading.
My full review of MooMoo can be found – here.
To keep it short, they’ve got one of the lowest fees, they’re really easy to use and they offer a lot of freebies for new and existing users. They’re also regulated locally by our Securities Commission.
If you’re looking to sign up, the direct link can be found here – Moomoo Malaysia.
Don’t forget my referral code for extra rewards – DM77
eToro
As of 2025, our locally regulated brokers are a better choice. Go for MooMoo and/or Rakuten Trade.
I’ve written an in-depth review on why I am using eToro hERE.
Pros
- Zero Fees
To put it simply – they charge zero commission and zero fees for US stocks. - Regulated
eToro might not be regulated under our local SC but they are under Australia’s ASIC. Which actually has higher standards compared to SC. - Fractional Shares
eToro allows you to buy a fraction of a share. With the MYR falling always, this allows us Malaysians a lower entry point. You don’t have to fork out $450 for one Tesla share. Instead, you can start off with $100 or even $10 for that matter. - Easy and Intuitive User Interface
The easiest to learn and use. The charts are simple and straightforward. If you’re looking to go deep into charts and volume of a stock, eToro wouldn’t be suitable for you. - Copy Trading
If you’re looking to just copy someone’s portfolio, you can do so with just a click on the platform. I’m on eToro as dividendmagic and my portfolio is always available to be copied here: https://www.etoro.com/people/dividendmagic
Cons
- You can’t trade every stock
eToro does not have every stock in the US and internationally listed on their platform. They do have all the big ones as well as more popular stocks on there though which works for me.
Sign up
To sign up and open an account with eToro, head hERE.
TD Ameritrade
As of 2025, our locally regulated brokers are a better choice. Go for MooMoo and/or Rakuten Trade.
TD Ameritrade has been around for a long time and a household brokerage name alongside IBKR. I’m picking TD instead of IBKR because of IBKR’s custodian fees of $10.
Pros
- Zero fees
TD, like eToro charges zero fees for US stocks including ETFs - Regulated
Like eToro and Tiger and almost all other international brokers, TD isn’t regulated under SC. TD Singapore however is regulated under Singapore’s MAS. - Listed on NASDAQ
TD Ameritrade, the parent company of TD Singapore is listed on NASDAQ.
Cons
- No fractional share trading
Unlike eToro, you don’t get fractional share trading with TD Ameritrade. The cost to purchase a single share would be higher for some companies. - Long Account opening time
It is tedious to open a TD Ameritrade account. I’ve learnt from experience. It’s been a few months now and they are still processing my documents.
Sign up
To sign up and open an account with TD Ameritrade Singapore, head hERE.
End.
As of 2025, I am now using MooMoo MY and eToro for most of my US stock trading.
A few things to note when investing in the US. You should know by now that Malaysians are taxed a 30% withholding tax as foreigners by the USA. Which is why dividend investing isn’t that great when investing in the US.
Instead, I focus on capital gains there. Because as Malaysians, we don’t pay capital gains tax like our US counterparts. I leave dividend investing to local stocks, and focus on growth and capital gains in the US.
You can check out my US holdings and portfolio hERE. Onwards and upwards!
For the next article of the Investing Series, check out article 005 – Best Dividend Stocks in Malaysia.