Moomoo Malaysia Review

Moomoo Malaysia (MY) Review: Almost perfect, with some room for improvements

The highly anticipated Moomoo MY is finally launched in Malaysia in late February 2024, allowing Malaysians to trade the US and Malaysia stock market at a highly competitive fee.

Personally, I’ve been looking forward for Moomoo MY to be launched in Malaysia as they have been offering great pricing for investors in their Singapore counterpart.

So, what is it like to invest through Moomoo MY? How's their pricing/fees like compared to other local brokers?

Let’s find out!

Highlights of Moomoo MY

  • Locally-regulated broker: Moomoo MY is regulated by the Securities Commission Malaysia (SC). This ensures that Moomoo MY's operation and business are conducted within the rules set by the authority to protect Malaysian investors.

  • Access to US, Singapore, Hong Kong, China, and Malaysia stock markets + US options market: Invest in the US, Singapore, Hong Kong, China, and Malaysia stock markets + US options market within the moomoo app.

  • Best fee structure for Malaysia-regulated brokers: Moomoo MY offers the most competitive fees for the US and Malaysia stock markets among Malaysia-regulated brokers, with 0 commission trading for all moomoo users for the first 180 days.

  • Powerful features: Investors of all levels and experience will appreciate the useful features that will alleviate their investing experiences, such as fractional share trading, a powerful stock screener, 24/7 news, Moo community, and more.

  • Room for improvements: A rather lackluster Help section in the app, where you would not be able to find answers to many important questions.
Moomoo Malaysia CNY 2025 promotion and promo code

How is Moomoo MY regulated + Safety of Funds

In terms of regulation, Moomoo MY (registered under the name Futu Malaysia Sdn. Bhd.) is regulated by the Securities Commission Malaysia (SC), with a Capital Markets Services License to operate a legal brokerage business:

Moomoo MY is regulated by Securities Commission Malaysia (SC).
Moomoo MY is regulated by Securities Commission Malaysia (SC)

This ensures Moomoo MY is operating under the best practices and guidelines set by the Malaysian authority.

In addition, clients' funds are kept separately from Moomoo MY's finances through a custodian bank account. Moomoo MY will not have access to your funds and assets, ensuring clear transparency to avoid fraud. This also ensures that if something happens to Moomoo MY (eg. Bankruptcy), your funds & assets will not be affected.

Furthermore, Moomoo MY clients' fund is protected by Capital Market Compensation Fund (CMC Fund), where clients can claim up to RM100,000 on eligible Malaysia securities/assets in the unlikely event that Moomoo MY is not able to pay clients due to bankruptcy.

Moomoo Malaysia (MY) is regulated by Securities Commission.
Source: Moomoo MY official site

Moomoo MY fees & pricing for the US, Malaysia, and Singapore stock markets

One of the reasons why Moomoo MY took the investing community by storm is its highly competitive pricing for the US, Malaysia, Singapore, Hong Kong, and China stock markets.

For pricing, Moomoo MY charges a commission and platform fee respectively. The great news is, new Moomoo MY users will enjoy 0* commission for the first 180 days:

(a) Moomoo MY pricing for Malaysia stocks, ETFs, REITs, and Warrant:

Moomoo MY pricing for Malaysia stocks, ETFs, REITs, and Warrant
Commission RM0* for the first 180 days to new users (*0.03% x Transaction Amount thereafter)
Platform Fee RM3/trade

(b) Moomoo MY pricing for US stocks, ETFs, and REITs:

Moomoo MY pricing for US stocks, ETFs, and REITs
Commission USD0* for the first 180 days to new users (*0.03% x Transaction Amount thereafter)
Platform Fee USD0.99/trade

(c) Moomoo MY pricing for Singapore stocks, ETFs, REITs, Warrants, and DLCs:

Moomoo MY pricing for Singapore stocks, ETFs, REITs, Warrants, and DLCs
Commission SGD0* for the first 180 days to new users (*0.03% x Transaction Amount thereafter, min. SGD3/order)
Platform Fee 0.05% x Transaction Amount, min. SGD5/order

(d) Moomoo MY pricing for Hong Kong Stocks & ETFs

Moomoo MY pricing for HK stocks & ETFs
Commission HKD 0* for the first 180 days to new users (*0.03% x Transaction Amount thereafter, min. HKD 3/order)
Platform Fee HKD15/order

(e) Moomoo MY pricing for China Stocks & ETFs

Moomoo MY pricing for China stocks & ETFs
Commission CNH 0* for the first 180 days to new users (*0.03% x Transaction Amount thereafter, min. CNH 3/order)
Platform Fee CNH 15/order
Moomoo Malaysia commission and platform fees for Malaysia, US, Singapore, Hong Kong, and China stock market
Note: Other non-platform fees apply.

(f) NEW: Moomoo MY pricing for US fractional shares:

May 2024: Fractional share trading for the US market is a newly launched feature by Moomoo MY.

It allows investors to buy and sell shares in fractional units instead of 1 whole unit. Check out the next section ('My Experience' section) as I cover more about fractional trading on Moomoo MY.

Fractional: Trade Size <1 Share Normal: Trade Size >= 1 Share(s)
Commission Waived USD0* for the first 180 days to new users (*0.03% x Transaction Amount thereafter)
Platform Fee 0.99% x Transaction Amount (capped at USD 0.99/trade) USD0.99/trade

Moomoo MY pricing vs other locally-regulated brokers:

In my opinion, Moomoo MY pricing structure offers the best value for Malaysian investors compared to the likes of Rakuten Trade and M+ Global:

(i) Moomoo MY vs Rakuten Trade fee comparison for the Malaysia stock market (Promo: First 180 days 0 commission trades for new users):

Moomoo Malaysia vs Rakuten Trade pricing and fees.
Note: Other non-platform trading fees apply.

(ii) Moomoo MY vs Rakuten Trade fee comparison for the Malaysia stock market (after 180 days):

Moomoo Malaysia vs Rakuten Trade pricing and fees.
Note: Other non-platform trading fees apply.

(iii) Moomoo MY vs Rakuten Trade vs M+ Global fee comparison for the US stock market (Promo: First 180 days 0 commission trades for new users):

Moomoo Malaysia vs Rakuten Trade vs M+Global pricing and fees for the US stock market.
Note: Rakuten Trade users can trade the US market via USD or RM (*Assuming RM1.00 = USD4.80). **Other non-platform trading fees apply.

(iv) Moomoo MY vs Rakuten Trade vs M+ Global fee comparison for the US stock market (After 180 days):

Moomoo Malaysia vs Rakuten Trade vs M+Global pricing and fees for the US stock market.
Note: Rakuten Trade users can trade the US market via USD or RM (*Assuming RM1.00 = USD4.80). **Other non-platform trading fees apply.

Also, take note of other non-platform trading fees that are NOT charged by Moomoo MY while you trade the stock market:

  • Malaysia stock market
For more details, please refer to https://www.moomoo.com/my/pricing

  • US stock market:
For more details, please refer to https://www.moomoo.com/my/pricing

My experience investing via Moomoo MY (Features):

The moomoo app is one of the most well-designed investing apps that I've used, which managed to combine useful features without compromising much on ease of use.

Below are some of my personal favourites while using the moomoo app to invest in stocks:

#1 Real-time US and Malaysia price quotes (or price feed)

Moomoo users will be happy to learn that moomoo offers real-time level 2 US market data for FREE (where you usually have to pay on other trading platforms), as well as FREE level 1 MY market data.

Moomoo Malaysia (MY) users will be getting Free real-time price quotes for US and Malaysia stock markets.

What exactly is Level 2 market data?

Essentially, Level 2 market data allows you to see transaction details (ie. Buy & sell activities) across multiple price levels:

Moomoo MY Level 2 Real Time Price Datafeed

Having level 2 market data is equivalent to having an aerial view of the market. For instance, with Level 2 market data, you can detect in real-time if buyers are buying aggressively (or vice versa) and make better entry decisions.

In short, with level 2 market data, you can get a better gauge of market strength.

#2 NEW: Fractional share trading for the US market on Moomoo MY

Fractional share trading is a newly introduced feature by Moomoo MY. It allows users to invest in a fraction of a share from just $5.00 instead of buying the whole share.

Simply put, fractional share trading makes investing with a small capital much more friendly and flexible.

i. Example: Buy fractional share from just $5.00

1 unit of Apple share is worth $189.73/unit. With fractional share trading on Moomoo MY, I am able to buy 0.03 units of Apple share at $5.6919 ($189.73 x 0.03 units).

Moomoo MY US fractional share trading Malaysia

ii. Cost of Fractional Trading on Moomoo MY vs Rakuten Trade

At this point, Rakuten Trade is another locally-regulated broker that offers fractional share trading.

Let's compare which is better in terms of cost when it comes to fractional trading:

Moomoo Malaysia Fractional Share Trading Fees vs Rakuten Trade
Note: Rakuten Trade users can trade the US market via USD or RM (*Assuming RM1.00 = USD4.73). **Other non-platform trading fees apply.

iii. Conditions for Fractional Trading on Moomoo MY

  • Not all US stocks and ETFs support fractional trading. To see if a stock or ETF is eligible for fractional share trading, look for the 'Fractional Share' symbol:
Fractional share trading on Moomoo Malaysia

  • Only day orders are supported, and attached orders or short selling are not allowed

  • The minimum order size for fractional trading is 0.0001 shares on Moomoo MY. For fractional trading buying, the minimum order amount is $5.00.

  • Once submitted, the quantity of fractional shares orders is not allowed to be edited

  • Whole share orders are not allowed to be changed to fractional shares orders

  • Editing the price of a limit order for fractional shares is supported after submission and before the order is fully executed or closed.
Moomoo Malaysia Fractional Share Trading Price and Fees

#3 Visual information on stocks or ETFs within the app

In terms of app design, the moomoo app is also the best stock investing app I've tried so far which puts financial information into easily understandable visuals & charts.

From revenue breakdown, shareholders, dividends, and more, I can get a clear picture of a stock without having to visit other external websites:

#4 Complete trade order execution features, from basic to advanced executions

Having tried many locally-regulated brokerages, I come to appreciate the different trade order execution features that Moomoo MY is offering to users on the moomoo app.

Aside from the basic market and limit orders, I discovered various order execution features (eg. Stop order, Limit-if-Touched), which makes trade execution more versatile for investors and traders alike, regardless of style.

#5 Powerful screener & 24/7 news update

The stock screener within the moomoo app also impressed me. This screener can be super simple, or as sophisticated as you want.

From fundamental to technical filters, you can filter for stocks based on your preferred criteria:

Moomoo Malaysia (MY) review: Stock screener

It is also extremely convenient to get the latest financial news in the moomoo app.

Even better, the news is real-time and updated 24/7, making it easy for you to get in touch with the latest updates of the market and the companies that you are investing in.

Moomoo Malaysia (MY) review: Get 24/7 news update

#6 Moo community

Within the moomoo app, you'll find a vibrant Moo community, comprised of global moomoo users sharing their thoughts and insights on the market.

Moomoo Malaysia (MY) review: Enjoy the vibrant Moo community

Not to mention various live webinars that allow you to keep up with the most happening events in the market:

Moomoo Malaysia (MY) review: Enjoy the vibrant Moo community

#7 Earn up to 3.5%* per annum on your cash via Cash Plus (*T&C applies)

As a Moomoo MY client, you can also enjoy a low-risk, competitive return on idle cash when you sign up for moomoo's latest Cash Plus funds.

Benefits of Cash Plus:

  • Daily returns: Up to 3.5%* p.a. daily returns even on weekends. (*Based on 1-year past returns on Maybank Retail Money Market-I Fund and United Money Market Fund-Class R as of May 2024).

  • Low barrier of entry: Subscribe to Cash Plus from RM0.01. There is no maximum amount on how much you deposit in Cash Plus.

  • Flexible: Your Cash Plus deposits can be redeemed for stock trading at any time.

  • Zero Fees: All you earn is yours to keep
Moomoo Malaysia Cash Plus returns

3 types of Cash Plus funds:

2 of the Cash Plus funds are MYR money market funds, while there is 1 USD cash fund:

Moomoo Malaysia Cash Plus MYR and USD money market Funds

This means you have the choice to earn interest/returns in either MYR or USD, neat!

Check out how to subscribe to Cash Plus below!

How to subscribe to Moomoo Cash Plus

Explore many more exciting and useful features that moomoo has to offer!

Aside from the features that I mentioned above, there are MANY more useful gems waiting for you and me to discover on moomoo!

Some other useful features include Market Position Overview, 'Concepts', and Short Sale Analysis, which I covered in my Moomoo MY feature review.

Moomoo Malaysia (MY) review: Market Position Overview
Moomoo: Market Position Overview shows where other shareholders got into their positions.

Personally, I am always discovering new features as I explore the moomoo app, and I will update this review as I come across features that I really like!


What I wish could be improved

From my time using the moomoo app, there are a few things that I wish could be improved:

#1 Lackluster 'Help section'

As an online stock investing platform, I find the 'Help' section of moomoo's app to be lacking in important information compared to other competitors.

Simply put, I couldn't find answers to many commonly asked questions, such as:

Are there fees to corporate action, such as Dividend Reinvestment Plan (DRIP) and rights issue? What to do if I want to subscribe to corporate action?

Source: Moomoo MY Help Center

How is Moomoo MY regulated? Who/which bank is the custodian bank that Moomoo MY has appointed to hold customers' funds?

Is Moomoo MY a nominee or direct CDS account for investing in the Malaysia stock market?

Can I apply for an IPO? If yes, how?

Can I apply to join an AGM? If yes, how?

As such, from my time using moomoo, I find myself reaching out to Moomoo MY's customer support for help - which is a mixed-bag experience on its own - more in the next point.

#2 My experience with Moomoo MY's customer support is rather hit-or-miss

Thanks to a half-baked 'Help' section, I spent a fair amount of time reaching out to Moomoo MY's 24/5 customer support for help and clarification.

Moomoo MY offers 3 channels for users to reach out for help, namely: Livechat, Phone support (03-9212 0708), and email ([email protected]).

What I appreciate about Moomoo MY customer support:

  • Multiple channels to reach out for help.
  • 24-hour support for live chat and phone support on working days.
  • Simple questions that require standard answers are addressed quickly.
Simple questions are addressed quickly, though I wish the answers can be available in the 'Help' section instead.

What I wish could be better with Moomoo MY customer support:

  • As an existing Moomoo SG and Moomoo MY user, I am always directed to Moomoo SG chat agent before I am redirected to Moomoo MY support, where I'll need to readdress my questions. I wish Moomoo could streamline the system for both Moomoo MY and Moomoo SG users so it is easier for us to get help.

  • I also faced a difficult time trying to get answers to certain questions, such as which exact custody bank/trust is Moomoo MY using to store clients' assets (eg. funds, stocks).

As a whole, as an online investing/trading platform, I wish to see more improvements in Moomoo MY's Help section and customer support, as they are the only way users can seek assistance when they need help.

Regardless, since Moomoo MY is still relatively new to the local market, I shall revisit their Help section and customer support in the coming months and see if there are any improvements.



Verdict: Moomoo MY is providing the best value for money for Malaysia investors

The launch of Moomoo MY in Malaysia has certainly disrupted the brokerage industry with its attractive pricing & fee offering, coupled with a featureful investing platform.

Now, it is even more affordable for Malaysians to get access to the US, Singapore, and Malaysia stock markets thanks to Moomoo MY.

Despite missing a few features and a slightly lackluster customer support (which I think could be improved with time), I think all these are not dealbreakers for me to recommend Malaysians to give Moomoo MY a try.


Step-by-step: How to open a Moomoo MY universal account & make your deposit

Opening a Moomoo MY universal account is one of the smoothest I've experienced among all the other investing platforms I've tried.

Step 1: Use my referral link HERE to open your Moomoo MY universal account, where you'll get to enjoy various account-opening perks.

Moomoo Malaysia CNY 2025 promotion

Step 2: Fill in your personal details

Moomoo Malaysia (MY) Review: How to open an account

Step 3: Verify your identity through your IC

Moomoo Malaysia (MY) Review: How to open an account

Step 4: Provide your tax information, including your Tax Identification Number (TIN) (ie. LHDN number).

Moomoo Malaysia (MY) Review: How to open an account

Alternatively, if you do not have a TIN number (eg. you are a student), you can enter your IC accordingly.

Moomoo Malaysia (MY) Review: How to open an account

Step 5: Enter your employment details and financial information:

Moomoo Malaysia (MY) Review: How to open an account

Step 6: You'll be required to scan your face for verification purposes.

Moomoo Malaysia (MY) Review: How to open an account

Step 7: Read through the Customer's Declaration and proceed should there be no issue

Moomoo Malaysia (MY) Review: How to open an account

Step 8: If the application goes smoothly, your account should be approved within 1 - 3 business days. At the same time, you'll also receive an email once your account is approved.

Moomoo Malaysia (MY) Review: How to open an account

Step 9: Head over to 'Account' > 'More' > 'Deposit' to get instructions on how to make your deposit.

Essentially, the deposit process can be done through (i) FPX transfer (recommended, as deposit is usually done within 5 minutes) or (ii) Bank transfer.

As for deposit via (ii) Bank transfer, log in to your bank account and make the transfer to the Moomoo MY bank details as shown to you.

Moomoo Malaysia (MY): How to deposit funds

[Reminder] Remember to claim your account-opening perks! (Under 'Me' > 'Promotion' > Click to redeem your account opening and deposit reward)

Moomoo Malaysia (MY) account opening promotion

Moomoo MY FAQ (Answers extracted directly from customer support)

Ques: Can I attend AGM for the MY and US stocks that I invest in?

Answer: AGM for US stocks: Moomoo MY does not currently support US Shareholders Meeting

AGM for MY stocks: If you want to attend the MY Shareholders Meeting, kindly drop Moomoo MY an email at least 10 business days before the Shareholders Meeting date at [email protected], the email needs to include: 1. A description of the content: Live voting or E-voting. 2. Your Name, Moomoo ID, Contact Number, and Stock code for the meeting. 3. The address of current status quo residence. (in English) Upon receiving your email, Moomoo MY will reply to you with any details.

Ques: I am an existing Moomoo SG user, can I still use my Moomoo SG universal account after opening my Moomoo MY universal account?

Answer: Moomoo MY and Moomoo SG are two different independent brokerage, will not affect each others

Ques: Any fees for corporate actions like DRIP, and rights issue?

Answer: Moomoo MY does not charge any processing fees for corporate actions of stocks (except for handling General Meeting matters). However, any third-party/exchange charges are still applicable to client.

Ques: Is Moomoo MY a nominee or direct CDS account for investing in Malaysia stocks?

Answer: Nominee CDS account


Disclaimers:

All views expressed are the independent opinions of myself, which are not shared by Futu Malaysia Sdn. Bhd. ("Moomoo MY"). No content shall be considered financial advice or recommendation. Moomoo MY links are included in this post, through which referrals are made and I may receive certain commissions. Please contact Moomoo MY for more information.


Trade Bursa Malaysia stock and futures (FKLI, FCPO) market with Interactive Brokers (IBKR)!

Interactive Brokers (IBKR): How to trade the Bursa Malaysia stock and futures market on IBKR?

Interactive Brokers (IBKR) has always been my go-to broker to invest in the stock market. In fact, it is the main broker I use to build my Freedom Fund.

As a Malaysian, I've always wished that IBKR would allow access to the Bursa Malaysia stock and futures markets - so global investors would have the opportunity to invest in my home country's best companies.

The good news?

Now it is possible to trade the Bursa Malaysia stock and futures market via IBKR!

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Dear friends, if you find this post helpful, I’d appreciate it if you can click on the button below to learn about IBKR via IBKR’s official site.

Doing so will help the earn the blog a small fee at no extra cost to you.

This will help supporting the blog in creating more useful content – thanks in advance my friends!

Highlights: Trading the Malaysia stock & futures market on Interactive Brokers (IBKR)

  • Strong regulation background: IBKR is a global broker regulated in 10 countries including the US, Canada, the UK, Ireland, Europe, Australia, Hong Kong, and Singapore.

  • Vibrant emerging market: Malaysia's foundation in the semiconductor and palm oil industries makes it an attractive market to invest in.

  • For whom: IBKR is a no-brainer for investors seeking an all-in-one platform to invest in the global markets at a low commission. One thing I'd like to see is IBKR getting licensed by the Securities Commission (SC) in Malaysia.

What Malaysia-listed products can you trade with Interactive Brokers (IBKR)?

Interactive Brokers (IBKR) is one of the few global brokers that offer access to the Malaysian market.

Below, you'll learn about the instruments you can trade with IBKR:

#1 Malaysian Ringgit (MYR)-denominated stocks & ETFs listed on the Bursa Malaysia Exchange

The Bursa Malaysia is the only stock exchange in Malaysia. It is also one of the largest stock exchanges in Southeast Asia, overseeing more than 970 listed companies.

Through IBKR, investors and traders can access the companies listed in the Main Market and Ace Market of Bursa Malaysia.

(a) Bursa Malaysia Main Market:

The Main Market of Bursa Malaysia houses the largest and most established public-listed companies in Malaysia.

In order to be listed in the Main Market, companies must meet standards when it comes to quality, size, and operations.

Check out the top-performing stocks (>MYR 1 billion market cap) in the Main Market from 2022 - 2024 (YTD):

2022 2023 2024 (as of 3rd Dec)
#1 Hextar Technologies (+652.5%) YTL Power (+263.3%) Sime Darby Property (+140%)
#2 Hextar Industries (+381.3%) YTL (+241.5%) Sunway (+133%)
#3 Chin Hin Group (+148.3%) UEM Sunrise (+227.9%) Sunway Construction (+126.8%)
#4 Berjaya Food (+145.9%) Eco World Development (+71.9%) Gamuda (+98.04%)
#5 Coastal Contracts (+73%) IOI Properties Group (+67.4%) Eco World Development (+80%)

Bursa Malaysia Ace Market:

On the other hand, the Ace Market is a sponsor-driven market designed for companies with growth prospects.  Sponsors must assess the suitability of the potential issuers, taking into consideration attributes such as business prospects, corporate conduct, and adequacy of internal control.

#2 FTSE Bursa Malaysia KLCI Futures (FKLI)

The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) is the go-to benchmark for the Malaysian stock market, representing the performance of the 30 largest companies on the Bursa Malaysia Main Market.

FKLI futures track the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) as its underlying instrument.

Why trade the FKLI?

  • Gain leveraged exposure to the 30 largest companies listed on the Bursa Malaysia Main Market with a single futures contract.

  • Freedom to go long or short. Express your trade ideas regardless of the direction of the market.

  • Hedge against unfavourable moves in your stock portfolio via FKLI.

#3 Crude Palm Oil Futures (FCPO)

FCPO is a MYR-denominated Crude Palm Oil Futures Contract traded on Bursa Malaysia Derivatives.

Since 1980, it has provided market participants with a global price benchmark for the Crude Palm Oil Market.

Why trade the FCPO?

  • Trade both directions. Be it bullish or bearish, you have the flexibility to express your conviction on the palm oil market via FCPO.

  • Hedge against unfavourable price movement in the physical market. FCPO can be a useful hedging tool for plantation companies, refineries, and exporters.

  • Gain leveraged exposure to the notional value of crude palm oil with a relatively small amount of capital (initial margin).

IBKR pricing & commission for Bursa Malaysia stock and futures market

IBKR offers access to Bursa Malaysia stock and futures market at a competitive price:

#1 IBKR pricing for Bursa Malaysia stocks:

Monthly Trade Value (MYR) Tiered Pricing
≤ 10,000,000 Tier I - 0.08% of Trade Value, min. MYR 12 per order
10,000,000.01 - 200,000,000 Tier II - 0.06% of Trade Value, min. MYR 10 per order
200,000,000.01 - 500,000,000 Tier III - 0.05% of Trade Value, min. MYR 9 per order
> 500,000,000 Tier IV - 0.03% of Trade Value, min. MYR 8 per order

*Other non-IBKR fees are applicable: Exchange fees, regulatory fees & clearing fees

#2 IBKR pricing for Bursa Malaysia Futures

Monthly Volume (Contracts) Tiered Pricing
≤ 1,000 MYR 4.00/contract
1,001 - 10,000 MYR 3.50/contract
10,001 - 20,000 MYR 3.25/contract
> 20,000 MYR 3.00/contract

*Other non-IBKR fees are applicable: Exchange fees & clearing fees


How to access/trade the Malaysia stock and futures market on IBKR?

Prerequisite: Open an IBKR account

To access the Malaysia stock and futures market via Interactive Brokers (IBKR), you must first open an IBKR account.

Refer to my step-by-step guide on how to open your IBKR account HERE.

Applying trading permission for Bursa Malaysia equities and futures market on IBKR:

Important Note: Equity trading on Bursa Malaysia (via IBKR) is not available to the residents of Malaysia.

p.s. You can still trade Malaysia's futures market if you are a Malaysian though!

To being trading Malaysian stocks/ETFs and futures on IBKR, you'll have to first apply for trading permission on the platform.

If not, you'll see a 'No market data permissions for BURSAMY STK' sign on each Malaysia-listed counter.

Trading Bursa Malaysia on Interactive Brokers (IBKR) - 'No market data permissions for BURSAMY STK'

You'll also be required to request for 'Trading Permission' if you haven't done so:

Trading Bursa Malaysia on Interactive Brokers (IBKR)

Step 1: Activate trading permission

Log in to your IBKR account HERE. Head on to Settings and select 'Trading Permissions'.

Trading Bursa Malaysia on Interactive Brokers (IBKR)

Step 2: Select 'Stocks' or 'Futures' depending on your need

Trading Bursa Malaysia on Interactive Brokers (IBKR)

Step 3: Tick Malaysia, then click 'Continue'

Trading Bursa Malaysia on Interactive Brokers (IBKR)

Step 4: Once your trading permission is approved, you'll be able to start trading the Malaysia stock/futures market!

Trading Bursa Malaysia on Interactive Brokers (IBKR)

You can start trading the Malaysia stock/futures market once your trading permission request is approved!

Trading Bursa Malaysia stocks and futures market (FKLI, FCPO) on Interactive Brokers (IBKR)

Verdict – Trade the vibrant Malaysia stock and futures market with IBKR!

As a Malaysian, I am excited that IBKR is opening up access to Malaysia's stock and futures market to global investors.

The vibrant offering of the Malaysia stock and futures market will make it a great choice to invest in one of the brightest emerging markets in Southeast Asia, and even the world.

Explore IBKR to trade the Malaysia stock and futures market today!


Disclaimer:

This review is purely based on my personal experience and is updated as of the time of writing.

This article may contain affiliate links that will earn the blog a small fee if you click on them. This comes at no extra cost to you as a reader.

Any trading symbols, entities or investment products displayed are for illustrative purposes only and are not intended to portray recommendations.

Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com.

Any discussion or mention of an ETF is not to be construed as a recommendation, promotion or solicitation. All investors should review and consider associated investment risks, charges and expenses of the investment company or fund prior to investing.  Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


How to buy PRS fund in Malaysia?

Guide: How to choose & buy your PRS fund?

What is PRS, and how can I find and buy the best PRS fund?

Private Retirement Scheme (PRS) is an initiative that the Malaysian government introduced to encourage Malaysians to invest for their retirement.

In return, Malaysians can enjoy personal tax relief of up to RM3,000 whenever they enroll or top up their PRS account. As of Budget 2025, this relief has been extended until 2030.

However, how can one know which PRS fund to invest in?

In this guide, I'll cover a simple guide on how you can find the best and invest in PRS fund for yourself!

Step-by-step: Screen for PRS funds using the FSMOne Fund Selector Tool

For unit trusts and funds, I usually refer to FSMOne's Fund Selector Tool as it has one of the most comprehensive fund coverage in Malaysia.

Even better, it is free to use!

Step 1: Head on to FSMOne Fund Selector Tool, and filter for PRS funds

Click the below button to access FSMOne Fund Selector Tool. I've customized the button to go directly to PRS funds:

On the site, you'll notice that the funds have been filtered specifically for PRS funds:

Find PRS fund via FSMOne Fund Selector Tool
Click on photo to go directly to FSMOne Fund Selector Tool

Step 2: Sort your PRS funds by various criteria

One thing I appreciate about the FSMOne Fund Selector Tool is the ability to sort the funds according to different criteria:

(a) Sort by Year-To-Date (YTD) and Annualized Performance

To find out the top-performing PRS funds in the past, you can sort the funds according to their performance at different timeframes.

Example:

  • If I'd like to sort for the top-performing PRS funds this year, I'll sort by 'YTD'.

  • If I'd like to sort for the PRS funds with the highest average return in the past 3 years, I'll sort by '3y'.
Use FSMOne Fund Selector Tool to find the best performing PRS fund

(b) Sort by Calendar Year Performance

You can also compare the funds' performance according to a specific year in the past:

Use FSMOne Fund Selector Tool to find the best performing PRS fund

(c) Sort by 3Y Sharpe Ratio

Sharpe Ratio is one of the most useful metrics when researching a fund's performance.

Essentially, Sharpe Ratio helps us compare the risk-adjusted performance between funds. Simply put, we can use Sharpe Ratio to decide if a fund's risk is worth the return. 

Use 3y Sharpe Ratio on FSMOne Fund Selector Tool to see which fund gives the best risk-adjusted returns.
How to use Sharpe Ratio:

  • Sharpe Ratio is best used to compare funds with similar asset classes and geographical exposure.

  • Generally, a fund with Sharpe Ratio >1.0 is considered good as it shows that the fund provided excess returns relative to the risk it experienced.

  • Meanwhile, a Sharpe Ratio <1.0 is less ideal as it (generally) indicates that the return was not enough to compensate for the risk.
Example:

Principal Islamic PRS Plus Equity - Class C and Kenanga OnePRS Growth Fund are both funds with exposure to Malaysian equities.

Given their similarity, one can use Sharpe ratio to compare their risk-adjusted performance:

Use 3y Sharpe Ratio on FSMOne Fund Selector Tool to see which fund gives the best risk-adjusted returns.
Use 3y Sharpe Ratio to see which fund gives the best risk-adjusted returns.

(d) Sort by 3Y Volatility

Funds can also be sorted by volatility.

Essentially, funds with lower 3Y volatility have a track record of providing more consistent returns over time rather than chasing short-term performance.

FSMOne Fund Selector Tool: low 3y volatility means a fund is able to provide more consistent return over time.

(e) Sort by Asset Class and Geographic Sector

Aside from performances, it is also useful to know the underlying asset class and where the funds are geographically invested in.

(i) Under Asset Class, you'll know WHAT a fund is investing in:

  • Equity: Mainly stocks. Generally higher potential return but is more volatile and risky.

  • Fixed Income: Exposure to debt instruments like bonds, Fixed Deposits, and money market funds. Generally lower potential return but is less volatile and risky.

  • Multi-Asset/Balanced: A mixed exposure of asset classes such as equity and fixed income. These funds generally strike a balance between returns and volatility/risk.
Sort by Asset class on FSMOne Fund Selector Tool
(ii) Under Geographic Sector, you'll know WHERE a fund is investing in:

  • Malaysia/Malaysia-focused: Mainly exposure to assets in Malaysia

  • Asia: Mainly exposure to assets in Asian countries.

  • Asia ex-Japan: Mainly exposure to assets in Asian countries, excluding Japan.

  • Global: Gain exposure to global assets.
Sort by geography on FSMOne Fund Selector Tool

Step 3: Click on a specific PRS fund to learn more details

Example of information that I'd like to know about a fund:

#1 Holdings: What does the fund invest in?

#2 What are the fees involved when I invest in this fund?

To note:

  • All PRS funds under FSMOne have 0% sales charges.

  • Fund manager fees include annual management fees, trustee fees, and expense ratios. These fees are deducted directly from the fund's Net Asset Value (NAV) and no additional payment is required.

  • PPA fee charged by Private Pension Administrator (PPA) Malaysia

6 Tips to find the best PRS Funds

Here are my 5 general principles for finding the ideal PRS fund:

  • #1 Positive past 3y, 5y, or 10y performance.

  • #2 Funds that are diversified across different geographical regions or sectors (eg. Global). In other words, I prefer funds that are not dependent or focused on just a single country/region (eg. Malaysia or Asia focused) or sector

  • #3 Funds with lower 3Y volatility - which indicate that returns are generated consistently over time.

  • #4 Sharpe Ratio higher than 1.0 (if not, as close to 1.0 as possible) while comparing funds with similar geographical traits or asset exposure.

  • #5 Relatively low fees/charges

The goal is to strike a balance between the 5 variables above while researching for your ideal PRS fund.

Tips #6: Check out Target Date Funds (TDF)

Target Date Funds (TDF) are unique funds that will, over time, adjust & optimize the assets according to their risk nature.

All you have to do is to decide your optimum retirement timeframe.

As you approach retirement, TDF fund managers will adjust the fund holdings and invest in more stable and less volatile assets.

The Principal RetireEasy and Principal Islamic RetireEasy series are Target Date Funds with different retirement timeframes. As of time of writing, the respective timeframes are 2030, 2040, 2050, and 2060:

The Principal RetireEasy and Principal Islamic RetireEasy series are Target Date Funds with different retirement timeframes.

Fund comparison feature in FSMOne Fund Selector Tool

What if you have multiple PRS funds that you'd like to compare side-by-side?

The fund comparison feature in FSMOne is designed just for this:

Step 1: Select the funds that you'd like to compare, then click 'Compare Now'

Step 2: Compare important information for selected PRS funds

Important info such as past performance, asset class & geographical exposure, and Sharpe Ratio I(and more!) can be compared:


How to invest in PRS funds (+🎁 Promo)

One of the best ways to invest in PRS funds is through FSMOne, as you get access to a vast selection of PRS funds from 7 PRS providers (AIA, AmInvest, AHAM Asset Management Berhad, Manulife, Principal, Kenanga, RHB).

FSMOne PRS Campaign 2024: Enjoy RM40 FSMOne Cash Account! (ending 15/12/2024)

From 1 October 2024 to 15 December 2024, enjoy RM40 FSMOne Cash Account Credits when you invest in PRS Funds via FSMOne!

  • Receive RM40 worth of FSMOne MYR Cash Account credits when you invest a minimum gross investment amount of RM3,000 in one PRS Fund in a single transaction via FSMOne from 1 October to 15 December 2024.

  • Participating PRS Providers for this campaign include:

    • AHAM Asset Management Berhad
    • Kenanga Investors Berhad
    • Manulife Investment Management (M) Berhad
    • Principal Asset Management Berhad
    • RHB Asset Management Sdn Bhd

  • All cash payments and completed forms must reach FSMOne by 11am, 15 December 2024.

Check out the section below for a step-by-step guide on how to buy your PRS fund from FSMOne.


Step-by-step guide to buy your PRS fund from FSMOne

Prerequisite: Firstly, start by opening your FSMOne account HERE. Skip to Step 2 if you already have a FSMOne account.

  • Select 'Personal Account'

  • Key in your personal details and create your FSMOne account username & password.

  • Key in your tax information

  • Verify your identity by taking a photo of your IC

  • Enter your address and upload a supporting document (eg. utility bill, bank statement) as proof of your address:

  • Enter your employment details. You will also given an option to open a CDS account with FSMOne, which allows you to trade stocks. There will be a fee of RM10 to open a CDS account, which will be refunded upon successful account activation:

Step 1: Log in to your FSMOne account and click on "Trade"

Step 2: Look for Unit Trust and click "Buy"

Step 3-4: Under 'View By', select Private Retirement Funds and choose Private Retirement Funds

Note: This step only appears during the initial subscription process.

Step 5: Fill in the investment amount and payment method (FPX/Cash management fund/Cash account)

Step 6: Fill in the information and Sign

Note: This step only appears during the initial subscription process.

Step 7-8: Click View Cart and proceed to Check out

(you may add more Funds or proceed to view the Cart, check the details and proceed to check out)

Step 9-10: Agree on Terms and Proceed to make payment

You may click the links to the terms and conditions and check out to proceed to make payment from your personal bank account as we do not accept third-party payments or cash deposits

Step 11: Order completed and click Pay now

Only for PRS Funds from Manulife, AIA, AmInvest, click download PRS Form to complete your transaction.

Step 12: Select your preferred bank and complete the payment

You may select your preferred bank account to proceed to make FPX payment


PRS Frequently Asked Questions (FAQs)

Ques: What is my tax incentive for investing in PRS?

Ans: You get to enjoy personal tax relief up to RM3,000

Ques: Who can invest in PRS?

Ans: PRS is open to individuals aged 18 and above, including both Malaysians and foreigners.

Ques: Can I withdraw/sell my PRS funds?

Ans: Your PRS contributions are allocated to sub-accounts A and B, with different withdrawal conditions:

  • Sub-account A (70%): Can be withdrawn upon reaching retirement age of 55.

  • Sub-account B (30%): Can be withdrawn once a year (1 year after your subscription), subject to a 8% tax penalty.

Ques: Can I transfer my existing PRS fund to another PRS provider?

Ans: Yes, transfer to other PRS provider is allowed after 1 year from the first subscription date. A RM25 PPA transfer fee per request and other related transfer fees (if applicable) will be incurred.

Ques: Can I switch my PRS fund?

Ans: Yes, you can switch between funds of the same provider without any fees or restrictions on the number of transactions.


Disclaimers

All materials and contents herein shall not be construed as an offer or solicitation for the subscription, purchase or sale of any fund, product or services. Any advice herein is made on a general basis and does not take into account the specific investment objectives of the specific person or group of persons.

Investors are advised to read and understand the contents of the prospectus, product highlight sheet (PHS) and relevant disclosure documents before investing. The prospectuses, PHS and relevant disclosure documents can be obtained from FSMOne Malaysia website. Investors should compare and consider the fees, charges and costs involved before investing. Investors are advised to understand the risks involved in relation to the products or services and further conduct his/ her own risk assessment and seek professional advice, where necessary. The unit trust fund’s prospectuses have been registered and lodged with the Securities Commission (SC), however this does not amount to nor indicate that SC has recommended or endorsed the product. Past performance is not indicative of future performance. Opinions expressed herein are subject to change without notice. Some funds, products or services may not be suitable or available to all investors, and are only made available to Sophisticated Investors (as defined in Capital Market and Services Act). The contents herein have not been reviewed by SC. Please read our full disclaimer in the website.


Interactive Brokers (IBKR) Review

Interactive Brokers (IBKR) Long-Term Review: The BEST broker in the world?

Interactive Brokers (IBKR) is a global broker that offers users access to different asset classes across 150 markets.

I've been an IBKR user for some time and in this review, let’s learn about IBKR, and if it is for you!

RELATED:

Highlights of Interactive Brokers (IBKR)

  • Strong regulation background: IBKR is a global broker regulated in 10 countries including the US, Canada, the UK, Ireland, Europe, Australia, Hong Kong, and Singapore.

  • Trade multi-assets with just one account: In addition, IBKR users also gain access to a huge variety of products/instruments such as stocks, bonds, ETFs, FX, futures, and options at a highly competitive commission.

  • For who: IBKR is a no-brainer for investors looking to gain access to global markets at a low commission. However, IBKR's downside (in my opinion) is a platform design and user experience that is not as beginner-friendly as other investing platforms around.

Regulation and Safety

With financial scams on the rise globally, it is crucial to choose a broker that is well-regulated and reliable.

IBKR is one of the most reliable global brokers in the world as it is regulated by financial authorities in over 10 countries. Regulation by the major financial authorities in the world ensures that IBKR users’ interests are always protected.

Some of the key regulations that IBKR has obtained include:

  • US: Securities Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC)

  • UK: The Financial Conduct Authority (FCA)

  • Australia: Australian Securities and Investments Commission (ASIC)

  • Hong Kong: Hong Kong Securities and Futures Commission

  • Singapore: Monetary Authority of Singapore (MAS)

In addition, IBKR is a publicly-listed company in the US (NASDAQ: IBKR) with a strong presence globally. It handles over 2M client accounts worldwide.


4 reasons why IBKR is the best global broker

If you have been investing for a while, you should be familiar with Interactive Brokers (IBKR) among all other brokerages.

What exactly makes IBKR so well-known compared to other brokers in the market?

#1 IBKR offers a huge selection of markets + asset classes for new & seasoned investors

IBKR is truly a platform that accommodates the needs of beginners and experienced investors alike.

  • Multi-assets: Aside from the usual stocks, ETFs, and bonds, IBKR users will get access to instruments such as futures, forex, mutual funds, and options. With an IBKR account, you are almost certainly going to find an investment vehicle that suits your need.

  • Global market access: IBKR offers access to over 150 markets in 34 countries. Aside from the usual US market, you get access to markets in the UK, Europe, Canada, Hong Kong, Singapore, Japan, and more with just one account.
IBKR offers global access to various markets.

--

A personal note as an IBKR user:

The global access that IBKR brings to the table for everyday investors like myself is truly valuable. It brings a lot of flexibility to investors with investing options outside of the US.

Example: As a non-US citizen that wants to invest in the S&P500, in order to avoid the 30% withholding tax that the US government charges on dividends, I have to opt for Ireland-domiciled S&P500 ETF listed in the London Stock Exchange (eg. CSPX, VUAA) instead of US-listed S&P500 ETFs (eg. VOO, SPY).

Since most brokers do not offer access to the UK stock market, IBKR comes in as a solid choice. 

#2 Highly competitive commission plans

On top of global market access, IBKR offers these markets at a highly competitive commission.

In my opinion, IBKR is the platform to go for investors looking for affordable access to the global market.

Refer to the next commission section of this article for more detailed elaboration.

#3 Fractional Trading

IBKR offers access to fractional shares in the US and European stock market, which is a rare feature among brokers.

Fractional trading allows investors to buy stocks at a fraction of the price via smaller units. Hence, it makes owning expensive stocks much easier for everyday investors.

IBKR Fractional Trading
IBKR offers fractional trading which is rare among brokers.

#4 Beginner + advanced trading platforms

To accommodate different investors, IBKR offers several trading platforms for users to select from. 3 of the more commonly used IBKR platforms are:

  • Client Portal (web)

Client Portal is the desktop interface that all IBKR users will come across when they log in to their IBKR account.

Client Portal offers a straightforward and featureful interface for users to view their portfolios and execute simple buy and sell orders.

View your portfolio with ease on IBKR Client Portal

Investors who prefer a simple investing interface would find the Client Portal the most convenient way to navigate around IBKR.

Execute simple trades on IBKR Client Portal

  • IBKR Mobile

IBKR Mobile is the simplified mobile version of IBKR's Client Portal. It makes it easy for users to trade on the go via their mobile devices.

  • IBKR Trader Workstation (TWS)

TWS is IBKR’s dedicated trading platform for a more in-depth customization and trading experience.

Traders that require more in-depth charting and a platform that is highly customizable could opt for TWS as their go-to platform.

IBKR Trader Workstation provides a customizable experience for seasoned traders.


IBKR Commission/Pricing for Stocks & ETFs

When it comes to commission, IBKR offers several commission plans - mainly Tiered or Fixed fees for non-US residents.

In other words, the commission you pay when you trade will differ based on the plans that you choose.

Let’s look at the commission plans for some of the familiar stock markets below:

US market:

Monthly Volume (shares) IBKR Pro - Tiered IBKR Pro - Fixed IBKR Lite (only for US residents)
≤ 300,000 USD 0.0035 USD 0.005 USD 0.00
300,001 - 3,000,000 USD 0.0020 USD 0.005  USD 0.00 
3,000,001 - 20,000,000 USD 0.0015 USD 0.005  USD 0.00 
20,000,001 - 100,000,000 USD 0.0010 USD 0.005  USD 0.00 
> 100,000,000 USD 0.0005 USD 0.005 USD 0.00 
Min. per order USD 0.35 USD 1.00 USD 0.00
Maximum per order 1% of trade value 1% of trade value USD 0.00
Additional 3rd party fees Regulatory fees, exchange fees, clearing fees, pass-through fees Regulatory fees Regulatory fees

Canada market (for CAD-denominated stocks/ETFs):

Monthly Volume (shares) Tiered Fixed
≤ 300,000 CAD 0.008 CAD 0.01
300,001 - 3,000,000 CAD 0.005 CAD 0.01 
3,000,001 - 20,000,000 CAD 0.004 CAD 0.01 
20,000,000 CAD 0.003 CAD 0.01 
Min. per order CAD 1.00 CAD 1.00
Maximum per order 0.5% of trade value 0.5% of trade value
Additional 3rd party fees Regulatory fees, exchange fees, clearing fees None

p.s. Click HERE for IBKR's commission on USD-denominated CAD stocks/ETFs.

UK (GBP-denominated stocks/ETFs):

Monthly Trade Value (EUR) Tiered Fixed – IB SmartRoutine Fixed - Direct Routing
≤ 40,000,000 0.05% of trade value 0.05% of trade value 0.10% of trade value
40,000,000.01 - 80,000,000 0.03% of trade value 0.05% of trade value 0.10% of trade value 
80,000,000.01 - 400,000,000 0.02% of trade value 0.05% of trade value 0.10% of trade value 
> 400,000,000 0.015% of trade value 0.05% of trade value  0.10% of trade value 
Min. per order GBP 1.00 GBP 3.00 GBP 4.00
Additional 3rd party fees Regulatory, Exchange & clearing fee None None

UK (for USD-denominated stocks/ETFs):

Monthly Trade Value (EUR) Tiered Fixed – IB SmartRouting Fixed - Direct Routing
≤ 50,000,000 0.05% of trade value 0.05% of trade value 0.10% of trade value
50,000,000.01 - 100,000,000 0.03% of trade value 0.05% of trade value  0.10% of trade value 
100,000,000.01 - 500,000,000 0.02% of trade value 0.05% of trade value  0.10% of trade value 
> 500,000,000 0.015% of trade value 0.05% of trade value 0.10% of trade value 
Min. per order USD 1.70 USD 4.00 USD 6.00
Additional 3rd party fees Exchange & clearing fee None None

Hong Kong (HKD-denominated stocks/ETFs):

Monthly Trade Value (HKD) Tiered Fixed
≤ 15,000,000 Tier I - 0.05% of Trade Value 0.08% of Trade Value
15,000,000.01 - 300,000,000 Tier II - 0.05% of Trade Value 0.08% of Trade Value
300,000,000.01 - 900,000,000 Tier III - 0.03% of Trade Value 0.08% of Trade Value
900,000,000.01 - 2,000,000,000 Tier IV - 0.02% of Trade Value 0.08% of Trade Value
> 2,000,000,000 Tier V - 0.015% of Trade Value 0.08% of Trade Value
Min. per order Tier I - HKD 18.00
 Tier II - HKD 12.00

Tier III - HKD 8.00

Tier IV - HKD 6.00

Tier V - HKD 4.00

HKD 18.00
Maximum per order 0.5% of trade value 0.5% of trade value
Additional 3rd party fees Regulatory fees, exchange fees, clearing fees Regulatory Fees

p.s. Refer HERE for IBKR's commission on China RMB-denominated stocks/ETFs listed in Hong Kong.

Singapore (SGD-denominated stocks/ETFs):

Monthly Trade Value (SGD) Tiered Fixed
≤ 2,500,000 Tier I - 0.08% of Trade Value 0.08% of Trade Value
2,500,000.01 - 50,000,000 Tier II - 0.05% of Trade Value 0.08% of Trade Value 
50,000,000.01 - 150,000,000 Tier III - 0.03% of Trade Value 0.08% of Trade Value 
> 150,000,000 Tier IV - 0.02% of Trade Value 0.08% of Trade Value 
Min. per order Tier I - SGD 2.50
 Tier II - SGD 1.60

Tier III - SGD 1.20

Tier IV - SGD 0.90

SGD 2.50
Additional 3rd party fees Exchange fees None

p.s. Refer HERE for IBKR's commission on USD, GBP, HKD, and EUR-denominated stocks/ETFs listed in Singapore.

IBKR Commission for Futures, Options, Forex, CFD, Mutual Funds, and more

Aside from stocks, IBKR also offers access to instruments such as Futures, Options, Forex, CFD, Bonds, Mutual Funds, and more.

Feel free to view IBKR's full list of commission below:


Which IBKR commission plan to choose?

As you can see, IBKR offers access to a lot of markets, alongside different plans, mainly Tiered and Fixed.

The question is, which IBKR fee structure should you choose?

In my opinion, IBKR’s Tiered plan makes the most sense for most investors. This is because it has a lower minimum commission per trade, and it gets cheaper as your trade value or trade volume increases.

While opening your IBKR account, you will be asked to select the kind of account (Tiered/Fixed) you are planning to open. But don’t worry, you can always change your account types once you open an account.


What I don’t like about IBKR

Despite all the good things about IBKR, it is not a perfect platform.

The irony is, IBKR's biggest downside stems from its pursuit of offering every market and feature available in the investing world to the users.

As a result, it makes IBKR rather not beginner-friendly to navigate around. As a new IBKR user, it is easy to feel overwhelmed to use IBKR.

You will most likely need to google for guides on most things relating to IBKR (in order to do it right) - from account opening, funding & withdrawals, how to make a trade, and more.

The bright side?

Resources and guides around IBKR are plentiful on the internet so it is not the end of the world.

However, the fact that I have to google around for guides just to navigate around the IBKR platform is still annoying at times.


Is Interactive Brokers (IBKR) for you?

In my opinion. IBKR is the most featured-packed investing platform that the investing world can offer so far.

As such, it is more than fair to say that IBKR is created for all investors and traders – beginners to seasoned alike.

If I need to be more specific, here are 3 reasons why you should consider IBKR over other brokers:

  • You want to have affordable access to global markets aside from the usual US market offered by all other brokers. (eg. I get access to Ireland-domiciled ETFs on the London Stock Exchange via IBKR)

  • You want to invest in a reliable platform that has gone through the test of time.

  • You want to trade different instruments (eg. Forex, futures, options) aside from the usual stocks and ETFs offered by most of the other brokers.

How to open an Interactive Brokers (IBKR) account: A step-by-step guide

Before you open an account, you will need to create a username & password on IBKR.

Click the button below to start creating your username and password. Once done, you will need to verify your email address.

Once done, login to IBKR and begin your application.

Step 1: Personal Information

Select your account type (Individual) and key in your personal information.

Interactive Brokers Account Opening Guide

You will also be required to key in your Tax Identification Number (TIN) [LHDN number if you are from Malaysia].

Interactive Brokers Account Opening Guide

Tips: Do not have a TIN?

If you are a student or do not have a TIN for some reason (eg. Housewife), click 'Not Applicable' and justify why you don’t have a TIN under ‘Other’ (eg. I am still a student).

Interactive Brokers Account Opening Guide

Next, select the base currency (USD) for your account.

This streamlines all the figures displayed in your IBKR account in USD. Don’t worry too much about this, as your IBKR account can hold other currencies and you can still trade in different currencies.

Interactive Brokers Account Opening Guide

Step 2: Configure your trading account.

Account type: Cash or Margin

In this step, you will be asked if you want to open a Cash or Margin account.

  • IBKR cash account: You will only be using your existing funds in IBKR to trade. Hence, you have to ensure that your funds cover the cost of the stocks and commission. A key downside is:

    • Trading limitation: You cannot trade products that require margin, such as futures. You also cannot day-trade US stocks.

  • IBKR margin account: You get access to margin and hence, can trade in margin (ie. loaned money). But it is not necessary to trade in margin even though you have a margin account. Upsides include access to more instruments and products and the ability to day-trade US stocks.

Personally, I opened a Margin account myself (even though I do not trade with margin) as there are certain product/service limitations with a Cash account. (eg. You need a margin account to day-trade US stocks)

Interactive Brokers Account Opening Guide

Income & Worth, Investment Objectives, Trading Experience:

Your answer to these questions determines the kind of products/markets you will gain access to. Don’t worry this can still be updated once you open your trading account.

Select the assets/instruments that you’d like to invest in or trade. Whether you are eligible to trade these assets depends on your income, investment objectives, and experience:

Interactive Brokers Account Opening Guide

Step 3: Regulation and Tax

Confirm that you are not a public figure with any conflict of interest.

Then, decide if you want to opt-in for IBKR’s Stock Yield Enhancement Program which will pay you interest by loaning your shares to IBKR. This is optional.

Interactive Brokers Account Opening Guide

Then, confirm your tax residence and whether you qualify for treaty benefits with other countries based on the country of your residence.

Interactive Brokers Account Opening Guide

Step 4: Review and sign agreements

Step 5: Upload documents & fund your IBKR account

Funding your IBKR account

Refer HERE to a full guide on how to fund your IBKR account.

Step 6: You will receive an email once your account is approved.

For me, my IBKR account is approved within 1 working day.


Verdict - IBKR is the only global broker you need (to get used to)

As an investor and reviewer, I have tried and used many brokers in my investing journey.

Of all, it is not exaggerating to say that IBKR is the most complete global broker that the investing world has to offer to everyday investors right now.

With just one account, IBKR allows me access to almost all tradable instruments in the financial market at an affordable price.

If you can get used to its overwhelming features, IBKR is THE account you must have as an investor in the global market.


Disclaimer:

This review is purely based on my personal experience and is updated as of the time of writing.

This article may contain affiliate links that will earn the blog a small fee if you click on them. This comes at no extra cost to you as a reader.


Interactive Brokers (IBKR): Guide to buy your first share on IBKR!

Guide: How to make your first trade on Interactive Brokers (IBKR)

Interactive Brokers (IBKR) is my go-to platform to invest in the US stock market, as well as accessing other markets such as the London and Canadian stock market.

In this guide, let’s go through 2 of my favourite ways on how to make your first trade on IBKR, either via IBKR's Client Portal or IBKR Mobile!

USEFUL IBKR TIPS & GUIDE:

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Help support this blog with a little gesture!

Dear friends, if you find this post helpful, I'd appreciate it if you can click on the button below to learn about IBKR via IBKR's official site.

Doing so will help the earn the blog a small fee at no extra cost to you.

This will help supporting the blog in creating more useful content - thanks in advance my friends!

Before you start: Fund your IBKR account

Make sure you have funded your Interactive Brokers (IBKR) account before placing your trades.

Check out my IBKR funding guide HERE.

Interactive Brokers (IBKR): how to deposit fund to your IBKR account - Wise, Instarem, SG bank account

#1 Placing trades via IBKR Client Portal

IBKR Client Portal is my favorite way to buy stocks/ETFs on IBKR as it is the most straightforward approach in my opinion.

Step 1: Log in to your IBKR Client Portal

Click HERE to log in to your IBKR Client Portal.

Step 2: Search for your stock/ETF

At the search bar, search for the stocks or ETFs that you want to invest in:

How to buy stocks on Interactive Brokers (IBKR)

As an example, let's say I am looking to invest in the share of Apple.

How to buy stocks on Interactive Brokers (IBKR)

Step 3: Next, click on the 'Buy' button.

How to buy stocks on Interactive Brokers (IBKR)

Step 4: Determine your order type

Within IBKR, there are a few order types available for investors to choose from while executing trades. Check out the bottom section of this post where I explain more about the different order types on IBKR.

For this example, let's say I want to set a buy limit order for Apple shares at $180.00. Meaning, instead of trying to buy Apple shares at its market price, I am lining up to buy the share when the price drops to $180.00.

Buying via limit order indicates that I may miss my entry IF the price goes up and never pulls back to $180.00, but I will get a better price if it does pull back to my desired price level.

How to buy stocks on Interactive Brokers (IBKR) - Order Types

Step 5: Determine the number of units of shares to buy, OR simply key in the amount to invest in:

  • 5a: Determine the number of shares you want to buy, and you'll be shown the amount required for you to buy the shares. In this case, buying 100 Apple shares at my limit price of $180.00 will require about $18,000 on my end (before commission).
How to buy stocks on Interactive Brokers (IBKR) - Setting quantity of shares to invest in.

  • 5b: Alternatively, you can key in the amount you want to invest in, and you'll be shown the number of shares that you can buy. In this scenario, for $1000, I would be able to buy about 5.56 units of Apple shares.
How to buy stocks on Interactive Brokers (IBKR) - Setting amount of money to invest in a share.

Step 6: Determine Time-In-Force of your trade order

Next, decide the Time-In-Force of your order. Time-In-Force determines how long your trade order will stay valid.

There are 4 types of Time-In-Force mechanisms in IBKR Client Portal, but I will go through 2 most common ones, namely:

  • Day: A 'Day' order will stay valid until the end of the trading session and cancel itself should the order is not filled. For instance, if my buy limit order of $180.00 for Apple share is not filled by the end of the trading session where I execute my order, my order will be canceled automatically.

  • Good till Cancel (GTC): A GTC order will stay valid until it is filled, or you cancel the order yourself.

How to buy stocks on Interactive Brokers (IBKR) - Time-of-day order

Step 7: Fill outside Regular Trading Hours (RTH)?

Some markets tend to allow orders to be filled outside of RTH, such as pre-market open hours and after the market is closed.

Depending on your preference, you can allow your trade order to be filled outside RTH.

How to buy stocks on Interactive Brokers (IBKR) - Fill outside RTH

Step 8: Preview and submit your trade order

Clicking preview before submitting your order allows you to see the commission that'll incur for the trade. Once all details are good on your end, submit your trade.

How to buy stocks on Interactive Brokers (IBKR) - Preview order

Step 9: Check your order and Modify the order if needed

Once you placed your trade, you can head over to 'Trade' and select 'Orders & Trades' to check the status of your trade.

How to buy stocks on Interactive Brokers (IBKR) - Check and modify order

Should you want to modify your trades while it is not filled, you can do so by clicking the 3 dots on the far right, and select 'Modify':

How to buy stocks on Interactive Brokers (IBKR) - Check and modify order

#2 Placing trades via IBKR Mobile

If you are investing on the go, installing the IBKR Mobile app is a must for you.

In this section, let's look at how you can place your trade via the IBKR Mobile app:

Step 1: Install IBKR Mobile app

Next log in to your IBKR account HERE.

How to buy stocks on Interactive Brokers (IBKR) Mobile app - Guide

Step 2: At the search bar, search for the stocks or ETFs that you want to invest in:

How to buy stocks on Interactive Brokers (IBKR) Mobile app - Search for stocks or ETFs

Step 3: Next, click on the 'Buy' button.

How to buy stocks on Interactive Brokers (IBKR) Mobile app

Step 4: Determine your order type

Within the IBKR Mobile app, the default order types are 'Market' and 'Limit' order.

How to buy stocks on Interactive Brokers (IBKR) Mobile app

That said, users who need more advanced order types can select 'Show More Options' to access the different order types within the app. Refer to the next section to learn about the meaning of different order types.

How to buy stocks on Interactive Brokers (IBKR) Mobile app - Different order types

Similar to the example in the prior section, let's say I want to set a buy limit order for Apple shares at $180.00.

How to buy stocks on Interactive Brokers (IBKR) Mobile app - Buy limit order

Step 5: Determine the number of units of shares you want to buy:

You'll be shown the amount required for you to buy the shares.

In this case, buying 5 Apple shares at my limit price of $180.00 will require about $900 on my end (before commission).

How to buy stocks on Interactive Brokers (IBKR) Mobile app - Determining quantity of shares to buy

Step 6: Determine Time-In-Force of your trade order

Next, decide the Time-In-Force of your order. Time-In-Force determines how long your trade order will stay valid.

The 2 most common Time-In-Force mechanisms are:

  • Day: A 'Day' order will stay valid until the end of the trading session and cancel itself should the order is not filled. For instance, if my buy limit order of $180.00 for Apple share is not filled by the end of the trading session where I execute my order, my order will be canceled automatically.

  • Good till Cancel (GTC): A GTC order will stay valid until it is filled, or you cancel the order yourself.
How to buy stocks on Interactive Brokers (IBKR) Mobile app - Time-In-Force

Step 7: Preview and submit your trade order

Clicking preview before submitting your order allows you to see the commission that'll incur for the trade. Once all details are good on your end, slide to submit your trade.

How to buy stocks on Interactive Brokers (IBKR) Mobile app - Preview order

Note: What is IBKR Mandatory Cap Price?

Upon placing your trade, you might come across a pop-up to seek your acknowledgment on IBKR Mandatory Cap Price.

IBKR Mandatory Cap Price refers to IBKR's initiative to avoid traders placing trades at price levels at are way outside the normal level capped by IBKR.

One key benefit of IBKR Mandatory Cap Price is it helps traders avoid typo (by denying the order), such as me mistakenly typing my buy limit price of Apple shares at $18,000 instead of $180.

For me, I'll just go ahead and select 'Accept and Continue' when I get this pop-up while placing my trades.

How to buy stocks on Interactive Brokers (IBKR) - IBKR Mandatory Cap Price

Step 8: Cancel or Modify the order if needed

Once you placed your trade, you can adjust or cancel your trade if needed:

How to buy stocks on Interactive Brokers (IBKR) Mobile app - Modify or Cancel order

A beginner's Guide to Different Order Types on Interactive Brokers (IBKR)

While trying to place your trades on IBKR, you'll come across a variety of order types on the platform.

In this section, let's go through the 3 common order types that you may use while placing your buy trades on IBKR:

#1 Limit Order

A Buy Limit Order allows investors to line up their orders to buy shares at a specific price or better.

  • Example: As shown in the screenshot below, Apple’s share price is $184.70.

  • If you want to buy Apple shares at a lower price, say $180.00, then set your limit price to $180.00. Essentially, what you are doing is telling the system that ‘Execute Buy Order ONLY if the price drops to $180.00 or less.
Interactive Brokers (IBKR) order types: Limit Order

#2 Market Order

A Buy Market Order allows investors to enter immediately at market price. In other words, to enter the market immediately, you as a buyer will need to accept whatever the Ask Price that the most immediate sellers are asking for.

  • Example: In the screenshot below Apple's share price is $184.70, with Ask Price at $184.79.

  • If you want to buy Apple shares immediately at market price, you will find yourself entering at the Ask price of $184.79, which is the price that the most immediate sellers are asking for.
Interactive Brokers (IBKR) order types: Market Order

#3 Stop Order

A Buy Stop Order is an order that is triggered when the price hits a specific level defined by the investor.

  • For instance, Apple share price is priced at $184.70. I'd only like to buy the share once there is a bullish momentum that pushes the price above $190.00.

  • To do this, I'll set a Buy Stop order at $190.00. Once Apple's share price reaches $190.00, my Buy Stop order will be triggered and my order will be filled at the most immediate available price at that moment.

  • The downside of using a Stop Order is the execution price is NOT guaranteed. In a scenario where Apple's share price breaches above $190.00 in an aggressive market move where there are no sellers at $190.00, then I'd find my Buy Stop order being filled at a higher immediate price where there are sellers to meet my buy order (eg. $191, 192).
Interactive Brokers (IBKR) order types: Stop Order

Verdict – Use IBKR to access the global stock market!

So there you have it - a detailed step-by-step guide on how to buy your first stock or make your first trade via Interactive Brokers (IBKR) Client Portal or the IBKR Mobile app!

I hope this is helpful and if you have any questions just leave them in the comment section below!


Disclaimer:

This review is purely based on my personal experience and is updated as of the time of writing.

This article may contain affiliate links that will earn the blog a small fee if you click on them. This comes at no extra cost to you as a reader.


IBKR deposit methods: Wise or Instarem

Wise or Instarem? - IBKR Funding Methods Compared!

Interactive Brokers (IBKR) is one of the most complete global brokers that I've used in my investing journey.

It offers users access to over 150 markets in 33 countries at a highly competitive commission. Moreover, IBKR users gain access to a huge variety of products/instruments such as stocks, bonds, ETFs, FX, futures.

As an IBKR user, I find Wise and Instarem to be 2 of the best methods to deposit funds to my IBKR account.

However, which one should you choose?

In this post, let me compare Wise and Instarem deposit methods, and see which is a more ideal IBKR deposit method!

RELATED:

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p.s. A word to fellow readers:

Dear friends, if you find this post helpful, I’d appreciate it if you can click on the button below to learn about IBKR via IBKR’s official site.

Doing so will help the earn the blog a small fee at no extra cost to you.

This will help supporting the blog in creating more useful content – thanks in advance my friends!

#1 Fees & Exchange Rate Comparison

Firstly, let's compare the fees and exchange rate if we were to use Wise and Instarem to fund our IBKR account.

Scenario #1: RM1,000 MYR-USD transfer

For this, I take similar RM1,000 MYR-USD transfers and see how much we have to pay in fees, as well as the exchange rate for both platforms:

Putting the info side-by-side, we can see that:

Wise Instarem
Fee for RM1,000 MYR-USD transfer RM8.90 RM5.50
Exchange Rate (as of 3/5/2023) 0.224593 0.2243
Final amount in USD USD 222.59 USD 223.07

  • Instarem offers a cheaper fee of RM5.50 for my RM1,000 MYR-USD transfer.

  • Wise offers a more competitive exchange rate of 0.224593 compared to 0.2243 from Instarem. (Rate as of 3/5/2023)

  • That said, taking into account of fee + exchange rate, I'd still get slightly more USD from Instarem for my transfer.

Scenario #2: RM10,000 MYR-USD transfer

Let's see if a larger transfer amount of RM10,000 MYR-USD transfer would make any difference:

Does a larger transfer amount make any difference for the fees?

Putting the info side-by-side, we can see that:

Wise Instarem
Fee for RM10,000 MYR-USD transfer RM69.69 RM60
Exchange Rate (as of 11/5/2023) 0.224090 0.2238
Final amount in USD USD 2225.28 USD 2224.57

  • Instarem still offers a cheaper fee of RM60 for my RM10,000 MYR-USD transfer.

  • Wise still offers a more competitive exchange rate of 0.224090 compared to 0.2238 from Instarem. (Rate as of 11/5/2023)

  • However, this time around, Wise is able to transfer slightly more USD in my RM10,000 MYR-USD transfer.

Summary: Use Instarem for smaller amount transfer, Wise for larger amount transfer

In essence, when you make a transfer in a small amount, Instarem's lower fee structure makes it up to a slightly high exchange rate.

On the other hand, in a bigger transfer, Wise's lower exchange rate is a better deal despite a higher fee.


#2 Deposit Process Comparison

There is a slight difference between Wise and Instarem when it comes to the deposit process to IBKR:

Wise Instarem
Deposit Process Transfer directly from Wise balance (easier) ACH funding via Instarem

Essentially, the biggest difference is when it comes to setting up the initial transfer.

  • It is easier to set up a Wise transfer as IBKR users can make a transfer directly from their Wise account. Read about my full Wise-IBKR transfer guide HERE.

  • As for Instarem, IBKR users will need to key in some additional details in order to set up an initial transfer. (though it is pretty simple as well) Read about my full Instarem-IBKR transfer guide HERE.

Summary: Wise provides an easier initial setup

Once the setup is done, all future transfers are very simple for both methods.

RELATED: Guide - How to fund your IBKR using Wise, Instarem, and SG bank account


#3 Deposit Speed Comparison

Fees aside, it is also important that my funds reach my IBKR account ASAP whenever I make my deposit.

So, how long does it take for my funds to reach my IBKR account with Wise and Instarem?

For this example, I did a transfer on both Wise and Instarem on the same day (3/5/2023), first with Wise, then Instarem a few hours later.

Let's look at the result:

(i) Wise-IBKR transfer: About 13 hours (<1 day)

I initiated my Wise transfer on 3/5/2023 after lunch and I receive my successful deposit notification from IBKR at 1:11am the next day (4/5/2023).

(ii) Instarem-IBKR transfer: About 14 hours (<1 day)

Meanwhile, I initiated my Instarem-IBKR transfer at late noon (4:38pm) on 3/5/2023. I received my successful deposit notification from IBKR at 6:33am the next day (4/5/2023).

Summary: Deposit speed is pretty much the same for Wise and Instarem

In essence, from my experience, there is no significant difference between the deposit speed of Wise and Instarem transfers.

I find both transfer experiences smooth and reliable.


Promotions for new Wise & Instarem users

(i) Wise

Support this blog by using my Wise referral link below!

(ii) Instarem: Get 200 InstaPoints (worth RM12) for your money transfer!

Open an Instarem account via my referral link by clicking on the button below, and get 200 InstaPoints (worth RM12) which can be redeemed for your money transfer (no min. transaction amount required)!


Verdict: Use Wise and Instarem to save on your IBKR deposit fee!

To summarize, for small amount transfers, Instarem-IBKR makes up for better value thanks to its lower fee structure. For bigger amount transfers, Wise-IBKR is better thanks to Wise's more competitive exchange rates.

Be it Wise or Instarem, both IBKR deposit methods allow users to save massively on fees & exchange rates compared to traditional foreign bank telegraphic transfer.

For new users of Wise and Instarem, I recommend taking advantage of the promotions so you can get more value out of your IBKR transfers!

Do you have any other tips on how to fund your IBKR account? Feel free to leave your tips and thoughts in the comment section below!


Disclaimer:

This review is purely based on my personal experience and is updated as of the time of writing.

This article may contain affiliate links that will earn the blog a small fee if you click on them. This comes at no extra cost to you as a reader.


Interactive Brokers (IBKR) Wise Withdrawal Guide

Guide & Tips: How to withdraw funds from Interactive Brokers (IBKR) via Wise

In this post, let’s explore how to withdraw the funds from your Interactive Brokers (IBKR) account via Wise.

This is the fastest and most convenient way to withdraw funds from your Interactive Brokers (IBKR) account.

This guide is especially suitable for non-US residents (eg. Singapore, Malaysia, and more) – any questions feel free to leave them in the comment section at the end of this post!

RELATED:

Part 1: Withdraw funds from Interactive Brokers (IBKR) via Wise

In this guide, I will demonstrate how to withdraw USD from my IBKR account via Wise. Using Wise to withdraw funds from IBKR is the fastest and most convenient method.

Perk: 1x FREE Wise withdrawal every month

What's great about withdrawal with Wise is that 1x FREE withdrawal is allowed every calendar month.

Hence, you do not have to pay additional fees if you only withdraw occasionally from your IBKR account.

Any subsequent withdrawal within a calendar month will have a small charge of USD 1.

Interactive Brokers (IBKR) Wise withdrawal guide: 1x FREE withdrawal is allowed every month.
1x FREE Wise withdrawal is allowed every month.

Overall fee/cost involved for IBKR to Wise withdrawal:

  • Part 1: IBKR to Wise withdrawal: 1x FREE withdrawal every calendar month, USD 1 for each subsequent withdrawal.

  • Part 2: Wise to local bank account: Exchange rate + Wise fee.

Pre-requisite: Open a Wise account and make a deposit to your Wise balance

Before you begin, be sure to open a Wise account first if you do not have an account.

Step 1: Log in to your Interactive Brokers (IBKR) account, and select 'Withdraw'

Step 2: Select your withdrawal currency (USD, for this example), and select 'Transfer to Wise Balance'.

Step 3: Cross-check your Wise account details before proceeding.

Step 3 will be a one-time process. Once done, you will be able to skip this step in all your future IBKR-Wise withdrawals.

[Note for new Wise-IBKR users] If this is your first time using Wise with your IBKR account, you might not see the screenshot above. Don't worry, there is just an additional step that requires you to connect your Wise account with IBKR first, and you will be good to go.

To learn more about how to connect your Wise account to IBKR, check out Step 3 of my Wise-IBKR deposit guide HERE.

Next, you will be required to check and confirm your Wise account details again. Once done, leave your signature AND username & password to confirm the details.

Then, you'll be shown that your Wise bank account details have been confirmed. Select 'Finish'.

Step 4: Proceed with our IBKR withdrawal via Wise

Select 'Make a Withdrawal'.

Select 'Transfer to Wise Balance'.

Proceed to key in the amount you want to withdraw from your IBKR account.

For this demonstration, I will withdraw USD 55 from my account.

You will be shown the screen below once your IBKR-Wise withdrawal is done:

Step 5: Check your Wise withdrawal status under 'Transaction Status'

Step 6: Money arrived at your Wise account

It took about 1 working day for the withdrawal to reach my Wise account


Part 2: Transfer money from your Wise account to your bank account

Once your fund reaches your Wise account, the next thing is to transfer the fund back to your local bank account in your local currency.

For my case, I will have to convert & transfer my USD 55 IBKR withdrawal to Malaysian Ringgit (MYR) in order to send it back to my local bank account. But this method should work for most other currencies.

Step 1: Log in to your Wise account, and select 'Send'

Step 2: Choose to send money from your Wise balance (USD)

Step 3: Determine your transfer amount, check for the fees incurred (Wise fee + Exchange rate), and select 'Continue'

Step 4: Choose to send money to your local bank account.

Step 5: Review and confirm your transfer. You should receive your transfer in your bank account immediately once done.


Verdict - Withdrawing from your IBKR account is never easier

With platforms like Wise, it is extremely fast & convenient to withdraw from your IBKR account.

Do you have any other tips on how to withdraw from your IBKR account? Feel free to leave your tips and thoughts in the comment section below!


Disclaimer:

This review is purely based on my personal experience and is updated as of the time of writing.

This article may contain affiliate links that will earn the blog a small fee if you click on them. This comes at no extra cost to you as a reader.