Guide: How I track my dividends on Interactive Brokers (IBKR)
Have you ever wondered how much dividend you have received for the last month, quarter, or year?
As a dividend investor myself, I lose track of my dividends too when life gets too busy at times.
In this post, I'd like to show you how I keep track of my dividends from my Freedom Fund from my go-to broker, Interactive Brokers (IBKR).
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How much dividend did I make last month?
As a dividend investor, I'd always like to know how much dividend I made in the prior month (or quarter/year).
My personal habit is to track my monthly dividend based on the Ex-Date of the dividend announcement.
Dividend Ex-Date refers to the day you have to hold on to a company’s shares to be eligible for their announced dividend.
For instance, if a stock or ETF announces a dividend with an Ex-Date of 31/3/2025 with a Payable Date of 2/4/2025, I will consider this as part of the dividend I receive for March.
Interactive Brokers (IBKR) makes it easy to track your dividends:
Before we start, make sure you've logged in to your Interactive Brokers account HERE.
Tracking your dividends on Interactive Brokers (IBKR)
Step 1 & 2: Under 'Performance & Reports', select 'Statements'.

Step 3: Select 'Realized Summary'

Step 4 & 5: Select your Period and Date for your report, then select your preferred format for viewing.
For this example, I will choose to view my dividend on a monthly basis for March 2025 - and to view it in HTML.

Step 6: Select 'Change in Dividend Accruals'

Step 7: Identify dividends with ex-date for March 2025 (or any period of your selection)
There are 3 'Date' columns:
- (a) The first 'Date' column refers to the date of the change in dividend accrual.
- (b) The second 'Ex-Date' column is the column that I'll usually refer to as I track my dividends. To recap, Ex-Date refers to the day you have to hold on to a company’s shares to be eligible for their announced dividend.
So, for dividend tracking for March, I will consider all dividends with Ex-Date in the month of March as my March dividends.
- (c) The third column, 'Pay Date' tells you the date your dividends will be reflected on your IBKR account.

'Po' and 'Re' in Interactive Brokers (IBKR) statement:
Column (d) shows the remark of the dividend information with 2 codes:
- The postings (with code Po) are done for new accrual additions to the account.
- Meanwhile, reversals (with code Re) are done for the following three reasons: correction in dividend accruals, cancellation in dividend accrual, and reversal due to payout in cash.
For this example, I noticed 2 rows of dividends with Ex-Date in March to have a 'Re' code, which may indicate a reversal due to cancellation or correction.
As such, I will exclude them as I track my dividends:

- (e) Gross Rate also means 'Distribution Per Unit' (DPU) of your holding. It is the amount of dividend you receive per unit of share you own.
- (f) Gross Amount (Gross Rate x Quantity of Shares Owned) refers to the total dividend you receive for the shares you own before considering tax in (g).
- (g) Tax refers to the tax involved for the respective dividends. As a Malaysian, this usually refers to Dividend Withholding Tax (WHT).
- (h) Net Amount is the final dividend you'll receive after deducting tax (if any) from (g).

Finally, after sorting the details above, the dividends with Ex-Date in March 2025 is as below:

Interactive Brokers (IBKR) Message Center Notification: Receive Email Updates on Your Dividends
Aside from logging into my IBKR account, I also like the fact that IBKR will inform me via email whenever there's an upcoming dividend:

No Money Lah's Verdict: Track your dividends with ease on Interactive Brokers (IBKR)
As a dividend investor, I find it essential to have a reliable platform to track my dividends easily, in addition to the ability to execute my trades.
I hope this is helpful and let me know in the comment section if you have any questions!
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.
Promotional Relationship Disclosure:
This content is provided by a paid Influencer of Interactive Brokers. Influencer is not employed by, partnered with, or otherwise affiliated with Interactive Brokers in any additional fashion. This content represents the opinions of Influencer, which are not necessarily shared by Interactive Brokers. The experiences of the Influencer may not be representative of other customers, and nothing within this content is a guarantee of future performance or success.
None of the information contained herein constitutes a recommendation, promotion, offer, or solicitation of an offer by Interactive Brokers to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Investment involves risks. Investors should obtain their own independent financial advice and understand the risks associated with investment products and services before making investment decisions. Risk disclosure statements can be found on the Interactive Brokers website.
Interactive Brokers is a FINRA registered broker and SIPC member, as well as a National Futures Association registered Futures Commission Merchant. Interactive Brokers provides execution and clearing services to its customers. For more information regarding Interactive Brokers or any Interactive Brokers products or services referred to in this video, please visit www.interactivebrokers.com.
The projections or other information regarding the likelihood of various investment outcomes generated by the Tools mentioned in this video are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. It is important to understand that these projections are based on certain assumptions and models, and actual outcomes may differ significantly. Please note that results may vary over time.
Any trading symbols, entities or investment products displayed are for illustrative purposes only and are not intended to portray recommendations.
The information in this podcast does not constitute tax advice and cannot be used by the recipient or any other taxpayer to avoid penalties under any federal, state, local or other tax statutes or regulations, or to resolve any tax issue.
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.
Rakuten Trade US Stock Trading Review: Great for investors, NOPE for traders
In the past, investing in the US stock market via Malaysia-regulated brokers has always been complex and expensive.
This caused many investors to opt for overseas brokers to invest in the US market. However, all this changed when Rakuten Trade launched their much-anticipated US stock trading service.
So, is it good?
Right off the bat, I'd say Rakuten Trade is one of the best local brokers for Malaysian investors to invest in the US market. HOWEVER, I do not recommend it for active traders.
Intrigued to know why? Wonder if you should use Rakuten Trade to access the US stock market? Let’s find out in this full review!
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Highlights of Rakuten Trade US Stock Trading
- Affordable fees: Rakuten Trade allows users to invest in the US market in either MYR or USD, with commissions from as low as RM1 (MYR trading) or USD0.88 – USD25 (USD trading). This is one of the lowest among Malaysia-regulated platforms.

- RM1/USD0.20 flat brokerage: For newly-activated foreign trading accounts, Rakuten Trade is now offering a RM1/USD0.20 flat brokerage for up to 3 months - making it more affordable to trade the US market!
- Powerful features: Rakuten Trade users get perks such as Fractional share trading, FREE live datafeed, and a transparent conversion rate while investing in the US market.
- Access to 3 major markets: Trade the Bursa Malaysia, US, and Hong Kong stock market with Rakuten Trade!
- Room for improvements: No short-selling, no margin trading, and a lack of order execution feature (eg. Market order) means there is room for improvements for Rakuten Trade.
- In short, Rakuten Trade is a great option for investors looking to access the US market at an affordable price. That said, active traders may find the lack of certain features restrictive.

Rakuten Trade US stock trading fees
Let’s start by addressing the elephant in the room: Is Rakuten Trade’s fee affordable?
For this, it is helpful to know that there are 3 kinds of regulated brokers in Malaysia offering access to overseas market, namely:
- Traditional investment banks that offer expensive brokerage fees, usually too shy to display their fees transparently on their website. (eg. Maybank)
- Dedicated brokers trying to disrupt the local brokerage scene with ‘affordable’ fees. Unfortunately, they are still far from affordable, especially for investors with small capital. (eg. FSMOne)
- Lastly, we have Rakuten Trade which offers a fee structure that is actually sensible for Malaysian investors to access the US stock market.
NEW: RM1/USD0.20* flat brokerage fee for newly-activated accounts (5/8/2024 - 31/12/2025)
In August 2024, Rakuten Trade introduced an RM1/USD0.20 flat brokerage fee promotion for up to 3 months for users who activate their new foreign trading accounts. (*T&C applies)
This makes trading the US market on Rakuten Trade one of the lowest among locally-regulated brokers:
Trade Value (USD) | Rakuten Trade (MYR Trading) | Rakuten Trade (USD Trading) |
$100 | RM1.00 | $0.20 |
$1000 | RM1.00 | $0.20 |
$10,000 | RM1.00 | $0.20 |
$100,000 | RM1.00 | $0.20 |

Rakuten Trade Brokerage for the US market
Even without any promotion, Rakuten Trade offers a brokerage fee from as low as RM1/trade. This makes it very fee-friendly to trade with a small amount on Rakuten Trade.

Comparing in trading value side-by-side, this is how much platform fee you’ll be paying using each Malaysia-regulated platform to buy US shares (assuming exchange rate of RM4.35 per USD1):

For scenarios below RM10,000 ($2300), Rakuten Trade offers a more flexible and affordable fee structure for investors without incurring heavy commissions.
Personally, I think Rakuten Trade’s fee structure is game-changing among local brokers.
Now, investors can access the US stock market via a Malaysia-regulated broker at a fraction of the cost, especially for beginner investors with small capital.
Trading experience (Features)
#1 User-friendly interface
Rakuten Trade built their US stock trading service on top of their existing trading platform. As a long-time user, I think this is good news because Rakuten Trade’s platform is really simple to use.
Either from Rakuten Trade’s website or iSpeed app, you can switch between Malaysia and US markets easily.

#2 FREE Live Datafeed (*scroll down further for an important update)
Another plus point with Rakuten Trade is all US stock prices are quoted live (ie. Real-Time) on Rakuten Trade.
For many platforms, you’ll usually have to pay for live data, else you’ll only receive a 15-mins delayed datafeed. This is the case for MIDF Invest, another Malaysia-regulated broker that offers US stock trading.

Hence, it’s great to see Rakuten Trade offering free live datafeed for users. This means that the price displayed for a stock will always be at-the-moment stock price.

*Update 31/3/2023: Subscribe to continue to get FREE live datafeed for US stock market!
Starting April 2023, users that wish to get access to FREE real-time US stocks datafeed will have to subscribe for it at Dashboard -> Setting -> 'Apply for real-time US datafeed'.
Thereafter, you will continue to enjoy FREE real-time US stocks datafeed - just remember to resubscribe every year!

#3: Buy US stocks in MYR or USD – your choice!
Newly launched in August 2022, Rakuten Trade users can now store USD in their Rakuten Trade account.
This allows users the flexibility to trade US stocks and ETFs with either MYR or USD.
Furthermore, users also have the choice to receive USD or MYR when selling their US stocks.
Related Post: When to buy US stocks in MYR, and when to buy in USD?

#4 Live Conversion + Tight MYR-USD Exchange Rate
Rakuten Trade offers a relatively tight MYR-USD spread for users to easily convert between both currencies within the platform.
Furthermore, the conversion process happens real-time, enabling users to convert MYR to USD (and vice versa) with the latest rate and trade right away.
Lastly, unlike certain brokers, there are no extra fees involved in currency conversion (aside from the spread) so there are no worries about hidden fees.

#5 NEW: Fractional Trading for US market
Starting May 2023, Rakuten Trade launched its Fractional Share Trading for US stocks and ETFs.
With fractional trading, Malaysians can buy US shares from 0.01 units instead of the full unit, while selling shares at 0.0001 units. This is a much-awaited feature and it’s great to see it landed on Rakuten Trade.
READ MORE: How to buy fractional shares with Rakuten Trade

3 Areas of Improvement & why this might not be for active traders
With the launch of US stock trading service, Rakuten Trade is set to disrupt the Malaysia brokerage scene.
That said, I think there are some areas of improvement for Rakuten Trade. Below are 5 key areas that I think Rakuten Trade should strive to improve on to serve users better:
(a) Lack of basic order execution features
One thing that I found lacking while using Rakuten Trade to trade US stocks is the missing of (basic) order execution features such as Market Order.
Unfortunately, the only execution option on Rakuten Trade is Limit Order.
- Market Order is an execution feature that allows investors to buy or sell shares at the immediate best price. As such, it is available in most stock trading platforms that I’ve used in the past (even Rakuten Trade’s own Bursa trading)
- Limit Order allows investors to line up their orders to buy or sell shares at a specific price or better.
While this may not be a huge issue for most long-term investors, a lack of Market Order execution may turn off some investors who prefer not to wait for their orders to be matched, or day-traders that require immediate market execution.
I’ve reached out to Rakuten Trade’s team on this matter, and it seems like there is no plan to add execution features like Market Order on their US stock trading service for the time being.

(b) Limited stocks to trade (but it’s improving!)
Secondly, despite offering access to the US market, Rakuten Trade does not actually offer all of the stocks listed in the US market.
That said, Rakuten Trade has been gradually adding new US stocks and ETFs since their launch. As of July 2023, Rakuten Trade offers about 920+ stocks, 25+ ADRs & 240+ ETFs listed on the NYSE and Nasdaq exchanges.
While you may trade the most well-known US stocks (eg. Apple, Tesla, Microsoft) and ETFs (eg. VOO, VTI) tradable on Rakuten Trade, there are some other US stocks that you may not find on Rakuten Trade.
As an example, as a REIT enthusiast, I have no access to stocks like Innovative Industrial Properties Inc (IIPR), which is a bummer.
[Note]: If you have a stock that you want to trade on Rakuten Trade, you can email your request to Rakuten Trade on the matter.

(c) No short selling and margin trading
Short selling and trading with margin are not available on Rakuten Trade too.
Essentially, this means that the only direction that you can execute on Rakuten Trade is for a stock to go up in price.
Also, you are only able to trade US stocks with the cash that you have in your Rakuten Trade account without access to margin facilities.
While this may turn off some stock traders, it shouldn’t be an issue for most long-term investors.
Regardless, having all these features will certainly help Rakuten Trade serve the needs of different retail participants in the market.
Who should use Rakuten Trade to trade US stocks?
While imperfect, Rakuten Trade has offered something that all local brokers failed to do: Access to the US stock market at a truly affordable fee via a Malaysia-regulated platform.
In my opinion, Rakuten Trade is a great option if you are:
- Seeking for a Malaysia-regulated broker to invest in the US stock market.
- Looking to access the US market at a truly affordable fee.
- Looking for a user-friendly platform to invest in the US stock market.
At the same time, it may not suit people who are:
- Active day traders that require market execution (instead of limit order) or more advanced execution features.
- Traders that need access to margin and the ability to short-sell stocks.
- Investors or traders that want exposure to more exotic stocks that are not within Rakuten Trade’s list of tradable stocks.
In short, unless you are an active trader, chances are you’ll like what Rakuten Trade has to offer.
Summary: Is Rakuten Trade a good platform to invest in the US market?
As a whole, Rakuten Trade has offered Malaysians a game-changing manner to invest in the US stock market via a locally-regulated broker.
An affordable fee structure, user-friendly interface, and transparent conversion rate should convince many investors to forgo the need to open a foreign brokerage account (and experience all the hassle of funding & withdrawals).
Unless you are an active day trader or you require access to less familiar stocks, I am sure you’ll be happy with what Rakuten Trade has to offer.
If you are keen to open a Rakuten Trade account, consider using my referral link by clicking on the button below!
Open A Rakuten Trade Account Today!
How to sign up to trade US stocks via Rakuten Trade
(A) How to sign up for US stock trading if you are new to Rakuten Trade:
Step 1: Sign up for Cash upfront account
If you are new, you’ll have to sign up for a Rakuten Trade Cash Upfront account.
Consider using my Rakuten Trade referral link by clicking the button below, and you’ll get 1000 RT points (RM10) which can be used to offset your brokerage fee!
Open A Rakuten Trade Account Today!
If you need help, click HERE for my step-by-step guide to open a Rakuten Trade account.
Step 2: Get your Rakuten Trade account within 2 working hours
Your Rakuten Trade account will be activated within 2 working hours.
Step 3: Log in to your Rakuten Trade account and apply for Foreign Stock Trading
Log in to your Rakuten Trade account either via the website or Rakuten Trade’s iSpeed app. You can locate the Foreign Trading activation button easily within the Rakuten Trade platform.

Step 4: Submit your application for US stock trading
Spend 1 minute to share some info required to trade the US stock market. Then, submit your application.

Step 5: Your Foreign Trading account will be enabled within 2-3 working days
(B) How to sign up for foreign trading if you are an existing Rakuten Trade user:
If you are an existing Rakuten Trade user, just follow Step 3 to Step 5 above and you’ll be good to go!
Disclaimer:
This post contains affiliate links, which afford No Money Lah a small referral (and in return, support this blog) if you sign up for an account using my referral link. The information stated above is based on my personal experience and for purpose of sharing such experience only. It is not intended as professional investment advice. Please contact Rakuten Trade for more information.
Webull Malaysia Review: What's good and what's lacking
2024 has been an amazing year for Malaysian investors thanks to the introduction of new locally-regulated platforms that make stock investing and trading seamless and more affordable than ever.
Webull Malaysia is one of those platforms that I've been eagerly waiting to enter the Malaysian market.
So, what is it like to invest through Webull Malaysia? What’s their pricing/fees like compared to other local brokers?
Let’s find out!
Highlights
- Locally-regulated broker: Webull Malaysia is regulated by the Securities Commission Malaysia (SC). This ensures that Webull Malaysia’s operation and business are conducted within the rules set by the authority to protect Malaysian investors.
- Access to the US stock and options markets, Malaysia stock markets, and Malaysia's futures market: Invest in the US and Malaysia stock markets, US options market, and the Malaysia futures market (FCPO, FKLI) within the Webull app.
- One of the best fee structures for Malaysia-regulated brokers: Webull Malaysia offers an attractive fee structure for the US and Malaysia stock markets among Malaysia-regulated brokers, with 0 commission trading for all Webull Malaysia users for the first 90 days.
- Powerful features: Investors of all levels and experience will come to enjoy a suite of useful features, such as 24-hour trading and fractional share trading for US stocks.
- Room for improvements: Lack of Singapore and Hong Kong market (for now), no FPX transfer for fund deposit (for now), and customer support takes longer to respond during US trading hours.

How is Webull Malaysia regulated + Safety of Funds
In terms of regulation, Webull Malaysia is regulated by the Securities Commission Malaysia (SC), with a Capital Markets Services License to operate a legal brokerage business:

This ensures that Webull Malaysia is operating under the best practices and guidelines set by the Malaysian authority.
In addition, clients’ funds are kept separately from Webull Malaysia’s finances through a custodian bank account. Webull Malaysia will not have access to your funds and assets, ensuring clear transparency to avoid fraud. This also ensures that if something happens to Webull Malaysia (eg. Bankruptcy), your funds & assets will not be affected.
Furthermore, Webull Malaysia clients’ fund is protected by the Capital Market Compensation Fund (CMC Fund), where clients can claim up to RM100,000 on eligible Malaysia securities/assets in the unlikely event that Webull Malaysia is not able to pay clients due to bankruptcy.

Webull Malaysia fees & pricing for the US stock market and Malaysia stock & futures markets
For pricing, Webull Malaysia offers a competitive commission and zero platform fee. The great news is, new Webull Malaysia users will enjoy 0* commission for the first 90 days:
(a) Webull Malaysia pricing for Malaysia stocks, ETFs, REITs, and Warrant:
Webull Malaysia pricing for Malaysia stocks, ETFs, REITs, and Warrant | |
Commission | RM0* for the first 90 days to new users (*0.08% x Trade Amount thereafter, min. RM5/trade) |
Platform Fee | RM0 |
(b) Webull Malaysia pricing for US stocks, ETFs, ADRs, and fractional shares:
Webull Malaysia pricing for US stocks, ETFs, and ADRs, and fractional shares | |
Commission | USD0* for the first 90 days to new users (*0.05% x Trade Amount thereafter, min. USD0.99/trade) |
Platform Fee | USD0 |
(c) Webull Malaysia pricing for Malaysia futures market:
FKLI (Intraday & Overnight) | FCPO (Intraday) | FCPO (Overnight) | |
Commission | RM5 | RM6 | RM7 |
(d) Non-platform trading fees
Also, take note of other non-platform trading fees that are NOT charged by Webull Malaysia while you trade:
- Malaysia markets
Other Non-Platform Trading Fees | Webull Malaysia |
Stamp Duty charged by Malaysian Government (for stocks) | Yes |
Clearing Fee charged by Bursa Malaysia (for stocks & futures) | Yes |
Trading Fee charged by Bursa Malaysia (for futures) | Yes |
- US stock market
Other Non-Platform Trading Fees | Webull Malaysia |
Stamp Duty charged by Malaysian Government | Yes |
SEC Fees charged by SEC | Yes |
FINRA Fees charged by FINRA | Yes |
ADR Custodian Fees charged by DTC | Yes |
Webull Malaysia pricing vs other locally-regulated brokers (Moomoo MY, Rakuten Trade, M+ Global):
Webull Malaysia's pricing structure is certainly one of the most competitive among locally-regulated brokers.
Their zero-commission stock trades for the first 90 days for new users are a bang for the buck.
Even after 90 days, Webull Malaysia pricing structure for US stocks is one of the most affordable among locally-regulated platforms.
(a) Malaysia stock market (per order fee comparison)
(i) Webull Malaysia vs Moomoo MY vs Rakuten Trade fee comparison for the Malaysia stock market (Promo: First 90 days 0 commission trades for new users):

(ii) Webull Malaysia vs Moomoo MY vs Rakuten Trade fee comparison for the Malaysia stock market (after promotional period):

(b) US stock market (per order fee comparison)
(i) Webull Malaysia vs Moomoo MY vs Rakuten Trade vs M+ Global fee comparison for the US stock market (Promo: First 90 days 0 commission trades for new users):

(ii) Webull Malaysia vs Moomoo MY vs Rakuten Trade vs M+ Global fee comparison for the US stock market (After 90 days):
Even after 90 days, Webull Malaysia's pricing for the US stock market is also highly competitive:

(c) US fractional shares (per order fee comparison)

My experience with Webull Malaysia (Features):
Webull Malaysia trading app is a well-designed app and I have no issue finding the features I need within the app.
Here are several features in the Webull Malaysia app that I find interesting:
#1 Zero platform fee* is advantageous for active day traders in the Malaysia stock market
At the moment, Webull Malaysia and Moomoo MY are two of the most affordable stock investing platforms in Malaysia.
One advantage that Webull Malaysia has is zero platform fee charged for every trade order. In comparison, rival Moomoo MY charges RM3/order for the Malaysia market.
Unlike brokerage fees that are entitled to trade amalgamation for the Malaysian stock market, a platform fee is charged whenever a trade is taken.
- What is trade amalgamation?
Trade Amalgamation allows you to combine your orders to help you save on trading costs and is applicable for buy or sell trades.
- How to enjoy trade amalgamation?
Trade amalgamation is automatically performed if the following conditions are fulfilled:
- Trades are of the same stock or the same ETF.
- Trades are on the same side (e.g. Buy trades can only be amalgamated with another Buy trade)
- Trades are done on the same trading day.
- Trades are from the same account.
- Example of trade amalgamation
Say, as a day trader, I bought Maybank shares four times, each worth RM2,500 (RM10,000 in total), during the same trading day.
My brokerage fee for Webull Malaysia and Moomoo MY will be amalgamated. However, since Moomoo MY's platform fee is charged on a per-trade basis, it is not entitled to trade amalgamation.
Here is the cost if I've done my trade using Webull Malaysia and Moomoo MY. For demonstration purposes, let me show you this comparison in reference to the pricing for the Malaysia stock market after 90 days (for Webull) and 180 days (for Moomoo MY) as a new user for each platform:

- What does it mean for you?
How much you benefit from Webull Malaysia's zero platform fee depends on your trading/investing style.
If you tend to actively trade the same stock on the same trading day for the Malaysia stock market, you are going to find Webull Malaysia more cost-effective.
*Note: The platform fee of 0 is subject to change at Webull Malaysia's discretion and is valid until updated.
#2 Trade stock & futures in one single app
Webull Malaysia is one of the few trading platforms that offers access to the stock market (US & Malaysia), as well as the Malaysia derivatives (or futures) market (FKLI, FCPO).
For traders who seek to express their trade ideas via different trading instruments, Webull Malaysia is certainly more versatile than most trading platforms.

#3 24-hour trading for the US stock market
Webull Malaysia also allows for 24-hour trading.
As a Webull Malaysia client, you can trade the US stock market anytime on a trading day. This means capitalizing on any breaking news, or taking action on earning announcements at odd hours.

p.s. US stocks that can be traded for 24 hours can be spotted with the '24' symbol on a stock:

#4 Fractional share trading for the US stock market
Webull Malaysia also offers fractional share trading, which allows users to invest in a fraction of a share from just $5.00 instead of buying the whole share.
In other words, fractional share trading makes investing with a small capital much more friendly and flexible.
i. Buy fractional share from just $5.00 and up to 3 decimal places (0.001).
With fractional share trading, I can buy 0.05 units of Apple shares instead of the entire share:

iii. Conditions for Fractional Trading on Webull Malaysia
- 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’ diamond symbol:

- Only market order is supported, and short selling is not allowed.
- The minimum value and quantity of a Fractional Share trade is USD5 and up to 3 decimal places (0.001).
- US Fractional Shares are only tradable during US Regular Trading Hours

#5 Real-time US and Malaysia price quotes (or price feed)
New Webull Malaysia users will enjoy real-time level 2 US and Malaysia price data FREE for 30 days.
Thereafter, it will revert to real-time level 1 US price data and a 15-minute delayed price data for the Malaysia market.

#6 Complete trading features
Webull Malaysia also impressed me with a complete suite of in-app trading features:
- Basic to advanced trade order execution options
Having tried many locally-regulated brokerages, I come to appreciate the different trade order execution features that are available on the Webull Malaysia app.
Aside from the basic market and limit orders, I discovered various order execution features (eg. Stop order, Trailing stop, Group orders), which makes trade execution more versatile for investors and traders alike, regardless of style.

- Simple-to-understand stock & ETF information within the app
I also like that Webull Malaysia app puts stock information in simple-to-understand visuals & charts.
From company financials, analyst ratings & 24/7 news, charting & technical analysis and more, I can get a clear picture of a stock without having to visit other external websites:

#7 Earn interest on your idle cash
As a Webull Malaysia user, you can also earn interest on your idle cash:

#8 NEW: Fund your Webull account via Islamic or Conventional Banking
Webull Malaysia is also the first online broker in Malaysia to launch an Islamic Banking Channel, enabling Shariah-Compliant funding options to trade the MY & US markets.
In other words, you now have the flexibility to deposit funds either through a Conventional or Islamic Bank.

3 aspects I wish could be improved
From my time exploring the Webull Malaysia app, there are a few things that I wish could be improved:
#1 Lack important features such as:
- No access to Singapore and Hong Kong stock market (for now).
- No FPX deposit (for now). Only bank transfer is available.
- No margin account. Only cash upfront account is available.
- Does not support request to attend AGM for MY stocks.
- Have to subscribe (ie. pay) for real-time price feed for the Malaysia stock market after the initial 30 days, where some competitors offer it for free.
- Lack of desktop trading app for users looking for a desktop trading experience. Only mobile app is available.
#2 Inconsistent customer support
I also tested Webull Malaysia's customer support thoroughly while preparing for this review.
Webull Malaysia offers 3 channels for users to reach out for help, namely: In-app chat, Phone support (03-9212 8192), and email ([email protected]).
What I appreciate about Webull Malaysia customer support:
- Multiple channels to reach out for help.
- 24/6 support on Monday - Saturday business days.
- Generally quick response time on in-app chat during daytime.

What I wish could be better with Webull Malaysia customer support: Less consistent nighttime support
In my personal experience, I find the response time for Webull Malaysia in-app chat to be less consistent at night compared to the daytime.
For instance, I'll usually get a reply from in-app chat within 10+ minutes during daytime, but in one instance it took more than 1 hour to hear from customer support at night.
As a platform that offers access to the US market, I think the response time should be improved upon:

#3 Gimmicky Voice Trading
A unique feature I found is that you could actually long-press the middle Webull-logo button to activate voice trading:

Personally, I've given it a try and find it to be less useful than intended. Words that are easy to detect like 'Apple' aside, I had a frustrating time getting the voice assistant to detect 'IGB REIT' (often taken as 'rate' /'rich' instead of 'REIT') and more complex names like 'Berjaya Corp' and 'Lockheed Martin' (taken as 'Regina' and 'Lockhead' respectively).
I think there is a huge potential for this voice assistant, such as handling more useful requests like 'What is Apple's latest news?', or 'What is SCHD's latest distribution?'.

As a whole, as an online trading platform, I wish to see more useful features being introduced to the Webull Malaysia app soon.
Regardless, since Webull Malaysia is still relatively new to the local market, I shall revisit this section in the coming months and update accordingly if I see any improvements.
🎁 Account Opening & Deposit Promotion (ending 29/5/2025, T&C applies)
Webull Malaysia is currently running limited-time promotion for new users:
#1 Trading Perks
Register and successfully activate a Webull Malaysia trading account and get:
- 90 days 0 commission for Bursa Malaysia securities
- 90 days 0 commission for US market (50% off commission after 90 days)
- 1 month of Level 2 real-time price quotes for Malaysia market and US market.
- Get +1 month of FREE access to either market by completing a matched MY or US trade respectively.

#2 1x Guaranteed fractional shares of NVDA/AAPL/GOOGL/LULU/IBIT worth RM300 + Max 5x RM20 trading vouchers
How to be eligible:
- (i) Deposit a cumulative amount of at least RM8,000 and get 5x RM20 trading vouchers (RM100 in value).
- (ii) Maintain the deposit for 60 days and make one buy trade for either US stocks or MY stocks, OR one long/short contract for either MY Futures or US Options - and get:
Get guaranteed fractional shares worth RM300, where you can choose from either Nvidia (NVDA), Apple (AAPL), Google (GOOGL), Lululemon (LULU) or IBIT (Bitcoin ETF)!
- Note: You are free to trade stocks during the 60-day lock-in period, and the value fluctuations of your holdings after depositing will not affect the unlocking of rewards – the key is to maintain a minimum net deposit of RM8,000 throughout the 60 days.
- Your reward will be issued to eligible participants within 7 business days after completing the requirement. Thereafter, you will need to claim your reward within 30 calendar days.

#3 EXCLUSIVE: Get 2x RM25 trading vouchers when you open a Webull account using my referral link and make a deposit!
A special perk if you use my referral link to open your Webull account:
- Make a first deposit of RM500 or more.
- Get 2x RM25 trading vouchers
Verdict: Webull Malaysia is making stock market investing more affordable to Malaysians
I think Webull Malaysia has offered Malaysians something valuable: Access to the stock market at an affordable price, especially for the US stock market.
Despite lacking a few features (which I think could be improved with time), I think all these are not dealbreakers for me to recommend Malaysians to check out Webull Malaysia.
Step-by-step: How to open a Webull Malaysia account & make your deposit
Opening a Webull Malaysia account is one of the most straightforward experiences:
Step 1: Use my referral link HERE to open your Webull Malaysia account, where you’ll get to enjoy various account-opening perks.

Step 2: Fill in your personal details

Step 3: Provide your employment and tax information, including your Tax Identification Number (TIN) (ie. LHDN number).

Alternatively, if you do not have a TIN number while opening a Webull Malaysia account, you can enter your reason accordingly (eg. I am a student).

Step 4: Enter your investment background

Step 5: Webull Malaysia offers one type of account, which is Cash Account at the moment. US market is optional so remember to tick it if you want to gain access to the US market!

Step 7: Declare if you have any domestic borrowing in Ringgit, and read through the agreements and proceed should there be no issue

Step 8: You’ll be required to scan your face and submit your documentation for verification purposes.

Step 9: 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.

Step 10: Select the Webull icon in the app and choose the account (Securities for stocks and/or Derivatives for futures) that you want to deposit in:

Essentially, the deposit process can be done through Bank transfer. Log in to your bank account and make the transfer to the Webull Malaysia bank details as shown to you:

Webull Malaysia FAQ
Ques: Can I attend AGM for the MY and US stocks that I invest in?
Answer: Webull Malaysia does not currently support US and MY Shareholders Meeting.
Ques: I am an existing Webull SG user, can I still use my Webull SG account after opening my Webull Malaysia account?
Answer: Webull Malaysia and Webull SG are two different independent brokerage, will not affect each other.
Ques: Is Webull Malaysia 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 Webull Malaysia. No content shall be considered financial advice or recommendation. Webull Malaysia links are included in this post, through which referrals are made and I may receive certain commissions. Please contact Webull Malaysia for more information.
Rakuten Trade Hong Kong Stock Trading Review: Affordable Way to Invest in HK!
Rakuten Trade is one of the best-regulated platforms in Malaysia that offers access to local and US stocks at an affordable fee.
In late 2022, they launched access to the Hong Kong Stock Exchange (HKEX), which makes it easy and affordable for Malaysians to gain exposure to reputable Chinese and Hong Kong companies listed in Hong Kong.
In this post, let's dive into Rakuten Trade’s latest Hong Kong market offering, and see if this is something to try out!
Highlights of Rakuten Trade HK Stock Trading
- Affordable brokerage fee: Rakuten Trade offers access to the Hong Kong Stock Exchange (HKEX) at a highly competitive fee, from as low as RM1/trade (for MYR trading), or a min. of HKD35/trade (for HKD trading).
- Flexible: Invest in Hong Kong-listed stocks via Rakuten Trade in MYR or HKD, your choice.
Why invest in Hong Kong?
The HK stock market offers several distinct benefits compared to investing in the US stock market:
(i) 0% dividend withholding tax
A major benefit of investing in Hong Kong stocks is there is 0% dividend withholding tax.
Meanwhile, most non-US residents (eg. Malaysians, Singaporeans) will be charged a 30% dividend withholding tax while investing in US stocks.
In other words, if an HK stock in your portfolio pays HKD1.00 in Distribution Per Unit (DPU), you will get the full payout instead of having to deduct for withholding tax.
READ MORE: All you need to know about Dividend Withholding Tax
(ii) The easiest way to access prominent China-listed companies
Investing in HK is also the most direct and reliable way for investors to gain access to reputable Chinese companies, such as Xiaomi, Alibaba, Tencent, and more.

Compared to investing in Chinese American Depositary Receipts (ADRs) listed in the US that face constant threats of delisting, investing in HKEX equivalent stocks is a more reliable way to gain exposure to Chinese companies.

Competitive brokerage fees for the Hong Kong market
Unlike most local brokers that charge unbelievably high rates for their Hong Kong market, Rakuten Trade offers the HK market at a very competitive fee.
With Rakuten Trade, users are able to trade in Malaysian Ringgit (MYR) or Hong Kong Dollar (HKD).
[Note]: When you buy HK stocks in MYR, your MYR will be automatically converted to HKD as per Rakuten Trade's exchange rate.
Below is Rakuten Trade's Hong Kong market fee structure for MYR trading and HKD trading:
Rakuten Trade brokerage fee for trading HK stocks in MYR
Trading Value (RM) | Brokerage (RM) | |
From | 0 - 100.00 | 1.00 |
Between | 100.01-9,999.99 | 2.88 |
Between | 10,000.00-99,999.99 | 0.1% of trading value |
Equal & Above | 100,000.00 | 100.00 |
Rakuten Trade brokerage fee for trading HK stocks in HKD
Trading Value (HKD) | Brokerage (HKD) | |
No Tier | 0.1% of trading value | Min. HKD35.00 |
Generally, given how Rakuten Trade structure their fees, I'd personally invest using MYR as it is cheaper compared to the min. HKD35 fee for HKD trading.
Other fees while investing in the HK market:
Aside from that, please take note that there are other fees charged by the HKEX while you trade HK stocks, as seen below:
- Clearing fee: 0.002% of gross amount with a minimum of HKD2.00 per order or a maximum HKD100.00 per order
- Stamp duty (Stocks): RM1.50 for every RM1,000.00 gross amount, with a maximum of MYR 1,000.00
- Exchange fee: 0.00565% of gross amount per order
- HKEX Stamp Duty: 0.13% of gross amount and round up to nearest integer
- SFC Transaction Levy: 0.0027% of gross amount with a minimum of HKD0.01 per order
- FRC Transaction Levy: 0.00015% of gross amount with a minimum of HKD0.01 per order
Rakuten Trade vs Competitors – Brokerage Fees by Trade Value
How do Rakuten Trade fees compare to locally regulated competitors?
Below, I compare the brokerage fee of Rakuten Trade to FSMOne, which both offer access to the Hong Kong market:
Trade Value | Rakuten Trade (RM trading/HKD trading) | FSMOne (HKD) |
RM100 (~HKD185) | RM1 or HKD35.00 | HKD50.00 |
RM5,000 (~HKD9,260) | RM2.88 or HKD35.00 | HKD50.00 |
RM10,000 (~HKD18,520) | RM10 or HKD35.00 | HKD50.00 |
From this, it is clear that Rakuten Trade is making foreign market access more affordable for Malaysians.
Trading experience & features:
#1 User-friendly interface
Rakuten Trade built their Hong Kong stock trading service on top of their existing trading platform.
As a long-time user, I think this is good news because Rakuten Trade’s platform is really simple to use.
Either from Rakuten Trade’s website or iSpeed app, you can switch between Malaysia, US, and Hong Kong markets easily.

#2 FREE live datafeed*
In addition, Rakuten Trade offers users access to live datafeed of HK stocks for FREE.
In other words, all HK stock prices are quoted live (ie. Real-Time). For many platforms, you’ll usually have to pay for live data or you’ll only get a delayed datafeed.

*Update 31/3/2023: End of free live datafeed for HK stock market
Starting April 2023, users that wish to get access to real-time datafeed will have to subscribe for it at Dashboard -> Setting -> 'Apply for real-time Hong Kong datafeed'. The price will be RM10/m.

#3 Buy HK stocks in MYR or HKD
As a Rakuten Trade user, you have the choice to store HKD in your account.
This allows for the flexibility to trade HK stocks in either MYR or HKD.

#4 Live Conversion + Tight HKD-MYR Exchange Rate
Rakuten Trade offers a relatively tight HKD-USD spread for users to easily convert between both currencies within the platform.
Furthermore, the conversion process happens real-time, enabling users to convert MYR to HKD (and vice versa) with the latest rate and trade right away.
Lastly, unlike certain brokers, there are no extra fees involved in currency conversion (aside from the spread) so there are no worries about hidden fees.

#5 No charges for corporate action
Furthermore, just like trading Malaysia stocks, Rakuten Trade handles any corporate action for your HK stock investments for FREE.
In other words, you do not have to pay Rakuten Trade in order to receive dividends or execute a right issue (you may have to pay for these on some other platforms).
What u need to know about the HK market
- HKEX Market hours
The HKEX market hour is slightly different from the Malaysia's market, as you can see below:
Session | Time |
Pre-Open | 9am – 9:30am |
Trading Session | 9:30am - 12pm |
Break | 12pm – 1pm |
Trading Session | 1pm - 4pm |
For the pre-open session, you can begin placing your limit orders but they’ll not be filled until the market opens at 9:30am.
2 areas of improvement
(a) Lack of basic order execution features
One thing that I found lacking while using Rakuten Trade to buy HK stocks is the missing of basic order execution features such as Market Order.
Unfortunately, the only trade execution option on Rakuten Trade is Limit Order.
- Market Order is an execution feature that allows investors to buy or sell shares at the immediate best price. As such, it is available in most stock trading platforms that I’ve used in the past (even Rakuten Trade’s own Bursa trading)
- Limit Order allows investors to line up their orders to buy or sell shares at a specific price or better.
While this may not be a huge issue for most investors, a lack of Market Order execution may turn off some investors that prefer not to wait for their orders to be matched, or day-traders that require immediate market execution.

(b) Limited Hong Kong stocks and no HK ETFs (but it’s improving)
Secondly, Rakuten Trade does not actually offer all of the stocks listed in the HK market. In addition, HK ETFs are not currently available on Rakuten Trade.
That said, Rakuten Trade will be gradually adding new HK stocks with time.
As of July 2023, Rakuten Trade offers about 340+ stocks listed on the Hong Kong Stock Exchange (HKEX).
While you may trade the most well-known HK stocks (eg. Xiaomi, Alibaba, Tencent) on Rakuten Trade, there are some other HK stocks that you may not find on Rakuten Trade.
[Note]: If you have a stock that you want to trade on Rakuten Trade, you can email your request to Rakuten Trade on the matter.
Who should use Rakuten Trade to buy HK stocks?
While not perfect, Rakuten Trade has offered something that all local brokers failed to do: Access to the HK stock market at a truly affordable fee via a Malaysia-regulated platform.
In my opinion, Rakuten Trade is a great option if you are:
- Seeking for a Malaysia-regulated broker to invest in the HK stock market.
- Looking to access the HK market at a truly affordable fee.
- Looking for a user-friendly platform to invest in the HK stock market.
At the same time, it may not suit people that are:
- Active day traders that require market execution (instead of limit order) or more advanced execution features.
- Investors or traders that want exposure to more exotic stocks which are not within Rakuten Trade’s list of tradable stocks.
In short, unless you are an active trader, chances are you’ll like what Rakuten Trade has to offer.
Summary: Is Rakuten Trade a good platform to invest in the HK market?
As a whole, I think Rakuten Trade has offered Malaysians a highly affordable choice to invest in the HK market via a locally-regulated broker.
A decent fee structure, user-friendly interface, and transparent conversion rate should convince many investors to forgo the need to open a foreign brokerage account (and experience all the hassle of funding & withdrawals).
Unless you are an active day trader or you require access to less familiar Hong Kong stocks, I am certain you’ll be happy with what Rakuten Trade has to offer.
How to sign up to trade HK stocks via Rakuten Trade
(A) How to sign up for US stock trading if you are new to Rakuten Trade:
Step 1: Sign up for Cash upfront account
If you are new, you’ll have to sign up for a Rakuten Trade Cash Upfront account.
Consider using my Rakuten Trade referral link by clicking the button below, and you’ll get 1000 RT points (RM10) which can be used to offset your brokerage fee!
If you need help, click HERE for my step-by-step guide to open a Rakuten Trade account.
Step 2: Get your Rakuten Trade account within 2 working hours
Your Rakuten Trade account will be activated within 2 working hours.
Step 3: Log in to your Rakuten Trade account and apply for Foreign Stock Trading
Log in to your Rakuten Trade account either via the website or Rakuten Trade’s iSpeed app. You can locate the Foreign Trading activation button easily within the Rakuten Trade platform.

Step 4: Submit your application for US stock trading + agree to the T&C of foreign stock trading
Since you are activating foreign trading on Rakuten Trade, you will also gain access to the US market alongside HK.
Hence, spend 1 minute to share some info required to trade the US stock market (W8BEN form).
Then, agree to the T&C and submit your application.

Step 5: Your Foreign Trading account will be enabled within 2-3 working days
(B) How to sign up for foreign trading if you are an existing Rakuten Trade user:
If you are an existing Rakuten Trade user, just follow Step 3 to Step 5 above and you’ll be good to go!
Disclaimer:
This post contains affiliate links, which afford No Money Lah a small referral (and in return, support this blog) if you sign up for an account using my referral link.
The information stated above is based on my personal experience and for purpose of sharing such experience only. It is not intended as professional investment advice. Please contact Rakuten Trade for more information.
Rakuten Trade Fractional Shares Trading Overview + FAQ: Buy a slice of your favorite US stocks!
Have you ever looked at a US stock (eg. Apple, Microsoft), and found it too expensive to buy for your budget?
Fred not, as Rakuten Trade is the FIRST Malaysia-regulated broker that released the much-awaited fractional share trading for US stocks! This is a rare feature even among global stock brokers these days.
This is a major news for investors as fractional share trading makes investing in US stocks more capital-friendly and flexible.
So, what is fractional trading all about? Should you consider buying fractional shares? Let’s find out!
RELATED POSTS:
What is Fractional Share Trading?
Essentially, fractional shares allow investors to own a portion of a whole share of a stock. (imagine getting a slice of pizza, instead of the whole piece)
As an example, 1 full unit of Apple share may cost $170. With fractional trading on Rakuten Trade, you can buy Apple shares for as small as 0.01 unit for just $1.70 (0.01 units * $170).
When you invest in fractional shares, you receive the same benefits as the other investors with full shares.
In other words, you’ll make gains when the stock price rises, as well as dividends should the stock you own pay them.

Why should you consider fractional share trading?
#1 Own popular stocks regardless of your investing budget
When I first started investing, I was not able to buy the shares of US-listed companies like Apple and Microsoft as their share price were simply too high for me to afford.
With fractional shares, investors can now buy a portion of the full share regardless of their capital.
From as small as 0.01 units of fractional shares, owning the shares of big companies is easier than ever on Rakuten Trade!

#2 Build a diversified portfolio regardless of your capital
With fractional trading on Rakuten Trade, it is also possible to build a diversified portfolio even with small capital.
For instance, let's say you have RM200/month (~USD 44.45)** to invest, you can easily build an Apple-Tesla-Microsoft portfolio with fractional trading:
Stocks | Fractional Units | Share Price (USD)* | Capital (USD) |
Apple | 0.08 | 175.05 | 14 |
Tesla | 0.08 | 176.89 | 14.15 |
Microsoft | 0.05 | 318.52 | 15.93 |
Total (USD) | 44.08 |
As you can see, the sky is the limit when it comes to how you can use fractional share trading to form your ultimate portfolio!
3 things about fractional share trading on Rakuten Trade
#1 Fractional shares are offered for selected US stocks & ETFs
Users of Rakuten Trade can now buy fractional shares of selected US stocks and ETFs on Rakuten Trade.
This means fractional units of major names like Apple, Microsoft, Tesla, and ETFs like the S&P500 (VOO) and Nasdaq-100 (QQQ) are all available.
The slight limitation though, is that the list of fractional tradable share list is subject to change tentatively every quarter. Users can't buy a particular share in fractions once it is removed from the list.
Note: US shares priced below USD 1/unit are only tradeable in a whole unit.

#2 Buy and sell in small units
Buy US stocks or ETFs from as small as 0.01 units and sell them at 0.0001 units.

#3 Tips: Earn & Use RT Points to offset your brokerage fees
While buying fractional shares on Rakuten Trade, it is also possible for you to offset your brokerage fee via RT points when you trade in MYR.

Meanwhile, for every RM1 brokerage fee spent, you will earn 1 RT Point (equivalent to RM0.01 brokerage fee)!
Fees while buying fractional shares on Rakuten Trade
In line with the launch of fractional shares, Rakuten Trade has adjusted its fee structure to make it more flexible and fee-friendly for users.
Rakuten Trade users have the flexibility to use either MYR or USD to trade US stocks:

Whether to use MYR or USD to buy US stocks depends on your trading value.
I have compiled the different scenarios of trading value and which is a better currency to use to trade:
Trading Value (RM/USD) | Fee (RM) | Fee (USD)* | Use |
RM100 ($22.2) | 1.00 | 0.88 (RM3.96) | RM |
RM500 ($111.1) | 2.88 | 0.88 (RM3.96) | RM |
RM700 ($155.6) | 2.88 | 0.88 (RM3.96) | RM |
RM1,000 ($222.2) | 2.88 | 0.88 (RM3.96) | RM |
RM5,000 ($1111.1) | 2.88 | 1.11 (RM5.00) | RM |
RM10,000 ($2222.2) | 10.00 | 2.22 (RM10) | RM or USD |
RM20,000 ($4444.4) | 20.00 | 4.44 (RM20) | RM or USD |
How to buy fractional shares on Rakuten Trade
For new Rakuten Trade users OR users that HAVE NOT activated foreign share trading, proceed to Step 1.
For existing Rakuten Trade users, please proceed to Step 2.
Step 1: Register for a Rakuten Trade account & activate foreign stock trading
If you are new, you’ll have to sign up for a Rakuten Trade Cash Upfront account.
Consider using my Rakuten Trade referral link by clicking the button below, and you’ll get 1000 RT points (RM10) which can be used to offset your brokerage fee!
If you need help, click HERE for my step-by-step guide to open a Rakuten Trade account.
Step 1b: Activate foreign share trading on Rakuten Trade:
Once your account is activated, log in to your Rakuten Trade account either via the website or Rakuten Trade’s iSpeed app.
You can locate the Foreign Trading activation button easily within the Rakuten Trade platform.
If you need help, click HERE for my step-by-step guide to activate foreign share trading on Rakuten Trade.

Step 2: Search for the US-listed stocks you want to buy

Step 3: Fill in the details of your trade
To know whether the stock you want to trade is eligible for fractional trading, just look at the 'Quantity' row - you will spot the lowest minimum unit is 0.01.

For a full guide (eg. what is 'limit order' and 'validity') on how to buy your first US share on Rakuten Trade, click HERE.
Step 4: Once done, confirm and execute your trade

You can check the status of your order and/or amend them under the 'Order' section:

Summary: Build your portfolio with fractional trading on Rakuten Trade!
With the launch of fractional share trading, Rakuten Trade makes US stock investing more accessible, especially for Malaysians with small capital.
This is an amazing feature that I foresee more Malaysian investors will take advantage of in their investing journey!
Will you give fractional trading a try? Let me know in the comment section below!
Rakuten Trade Fractional Shares FAQ
Q1: Why invest in fractional shares?
Fractional shares make it possible for investors like you and me to own a fraction of popular US stocks that are usually too expensive to buy in full units.
Q2: Is fractional trading applicable to Exchange-Traded Funds (ETFs) on Rakuten Trade?
Yes. It is possible to invest in fractional units of popular ETFs available on Rakuten Trade such as VOO (S&P500) and QQQ (Nasdaq-100).
Q3: Can I receive dividends on my fractional shares?
Yes.
Q4: Can I sell my fractional shares?
Yes. The selling process is similar to the selling of a full unit of share.
Disclaimer:
This post contains affiliate links, which afford No Money Lah a small referral (and in return, support this blog) if you sign up for an account using my referral link.
The information stated above is based on my personal experience and for purpose of sharing such experience only. It is not intended as professional investment advice. Please contact Rakuten Trade for more information.
Rakuten Trade Long-Term Review: 5 Reasons Why it is my Go-To Stock Broker!
Rakuten Trade has been my go-to broker to invest in the stock market for more than 4 years now.
As a long-term user, I have both good and to-be-improved experiences with the platform.
In this Rakuten Trade review, let’s learn more about this platform and whether they are the stock investing platform for you!
Before you proceed, here are some related posts that you might find useful:
How I use Rakuten Trade
Personally, I use Rakuten Trade mainly for long-term investing. Meaning, I invest in stocks and hold them for years UNLESS there is a shift in business nature or fundamentals. This also means that:
- I do not actively trade in and out of the market.
- Also, I certainly do not need to be on the screen/app at 9am when the market opens in an attempt to get the ‘best’ stock entry price
- Plus, I definitely do not participate when the market is crazy over any particular stock – I invest in what I know best instead of following the herd.
Putting this ahead is CRUCIAL because this review is purely based on my personal experience and usage.
Depending on your participation in the market, you may find your experience differs from mine.
That said, if you are in for investing in quality companies for the long-term, I think this review will give you solid insights on Rakuten Trade as a stock investing platform.
Rakuten Trade Feature Highlights
- Rakuten Trade is a joint venture between Malaysia’s Kenanga Investment Bank Bhd. and Japan’s Rakuten Securities Inc. Established in 2017, Rakuten Trade is under the regulation of the Securities Commission (SC) of Malaysia and holds the Capital Markets Services License (CMSL) to deal with listed securities and provide investment advice
- Rakuten Trade offers a full online investing experience. From registration to funding/withdrawal, every process is done online at our convenience. Plus, get your account approved within 3 days (sometimes earlier). This is much more efficient compared to certain brokers that require weeks to approve an account.
- Rakuten Trade offers one of the most competitive commission rates in Malaysia. In other words, Rakuten Trade is a fee-friendly option, especially for new investors who are starting with a small capital – more below.
- Rakuten Trade offers users access to the US stock market and Hong Kong stock market at a highly affordable commission!

6 things I like about Rakuten Trade
#1 Competitive Fees for Malaysia & US Stock Market
Rakuten Trade offers one of the most competitive rates in the local brokerage scene, be it for Malaysia, the US, or Hong Kong stock market.
(a) Rakuten Trade Brokerage Fee for MYR trading (Bursa Malaysia, US, and HK stock market):

(b) Rakuten Trade Brokerage Fee for USD trading (US stock market):

(c) Rakuten Trade Brokerage Fee for HKD trading (HK stock market):

However, while looking for a broker, there are more things to consider than commissions alone. Let’s explore the additional value-added strengths that I like about Rakuten Trade in the next few points below.
RELATED READ: Rakuten US Stock Trading Review
#2 Nominee CDS Account = No Manual Paperwork Needed (+ FREE CDS Fee!)
Everyone has to open a Central Depository System (CDS) account while applying for a stock investing account. Most brokers make it part of the whole registration process already, so don’t worry too much.
What you need to know though, is that there are 2 types of CDS accounts: Nominee and Direct CDS account. In this case, Rakuten Trade is a Nominee CDS. The good things that come with this are:
- No need to manage the paperwork on corporate actions like rights issue and dividend reinvestment program (DRP). Everything about corporate action is handled by Rakuten Trade on behalf of the users, which is awesome because my time is too precious for (more) paperwork.
- While other brokers that offer Nominee CDS account charges a fee to handle corporate action for users, BUT specifically for Rakuten Trade, there are no additional charges on handling corporate action – yes, FREE.
- FREE CDS account opening: Typically, there is an RM10 fee imposed on opening a CDS account. However, Rakuten Trade has been waiving this fee for users too!
All being said, many have the concern that under a Nominee CDS, their share ownership is placed under a trustee instead of directly under their own name (this is done to avoid fraud).
For me, I think this is not a matter to be concerned with because (1) Rakuten Trade is regulated heavily by the SC and (2) in the event that the company does go bankrupt, our capital is protected as it is placed with a trustee instead of with Rakuten Trade.
READ: Direct and Nominee CDS, what’s the difference, and how to choose?
#3 Clean, Functional & User-Friendly Platform
Being a fully online broker, Rakuten Trade provides investors with a modern and clean trading experience. Personally, I have used several brokers in the past, and have seen the interface of other brokers.
There are 2 problems with many of these brokers:
- Obsolete design/complicated user interface like they are from the early 2000s. Beginners are overwhelmed with poor layouts and simply can’t find what they want to do easily.
- Non-functional – certain platforms are barebone (different from minimalist) without value-added features like stock screeners and so on.
In this regard, Rakuten Trade struck a decent balance between user experience and functionality. Its web platform is simple to navigate with solid value-added features like stock screeners and price alerts.
Coming from using several brokers in the past, I am sure new users will appreciate and be able to familiarize themselves with Rakuten Trade with little to no issue.

READ:How to buy your first stock on Rakuten Trade
#4 Quick Response from Customer Service
Any company that tries to go digital today MUST have proper online customer service in place.
Generally, there are 3 ways a user can reach out for help: Facebook Chat, Email ([email protected]), and a Hotline.
With the exception of Hotline, I have reached out to Rakuten Trade with questions on several occasions in the past. Generally, the response from the Customer Service team is quick and I usually get my questions addressed.

#5 Solid Value-Adding Features (eg. Powerful Stock Screener, earn interest on idle cash)
There are several features in Rakuten Trade that make investing a fruitful process for users. Namely, Rakuten Trade’s built-in stock screener is one of the most comprehensive FREE screeners around.
Powered by Thomson Reuters, there are many parameters that you can set up to filter for stocks. For new investors, this is certainly an awesome feature to have to reduce the time needed to research for stocks.

READ: How to build your own reliable Bursa stock screener.
And do you know with Rakuten Trade, you actually earn a 1.50% annual interest on the cash balance in your account?
I was not aware of this when I first used Rakuten Trade and was pleasantly surprised when I received interest on my cash balance.

READ: 4 Underrated Features on Rakuten Trade
#6 Fractional Trading for the US market
Starting May 2023, Rakuten Trade launched its Fractional Share Trading for US stocks and ETFs. This makes it more capital-friendly for Malaysians to own US stocks.

READ MORE: Rakuten Trade Fractional Share Trading review
Should You Open a Rakuten Trade Account? (+ How to open one?)
All in all, Rakuten Trade has been my go-to broker while investing in the stock market, and I have no problem recommending Rakuten Trade to:
- New investors with small capital that are looking to get started in the Malaysia & US stock market thanks to Rakuten Trade’s beginner-friendly commission.
- Investors that are looking to save time on paperwork and skip the handling fees for corporate action such as dividends and rights issue.
- Investors who are looking to open an account and manage their stock portfolio fully online during this pandemic.
- Investors who are looking for a modern, user-friendly stock trading platform without compromising on features.
If you fall into any one (or more) of these categories, check out my step-by-step guide to open your Rakuten Trade account online!
Awesome Feature: Use your RT Points as Brokerage Fee Rebate!
Not too long ago, Rakuten Trade released an exciting new feature: now you can convert your RT points as a discount to your brokerage fee!
In my opinion, this is the most practical use of the RT points for Rakuten Trade users. This is how it works:
Step 1: 1 RT Point = RM0.01 (ie. 100 RT points = RM1 Brokerage Fee.)

Step 2: Opt-in for brokerage rebate when you buy or sell shares on Rakuten Trade.

Step 3: Your brokerage rebate will be credited to your account by the end of the trading day (subject to your RT Point balance).
So let’s say you have 700 RT points (RM7), and the brokerage fee that you paid for a transaction is RM9. By the end of the trading day, Rakuten Trade will deposit RM7 back into your account, essentially offsetting the brokerage fee to just RM2.
You can find the full T&C here.
No Money Lah’s Verdict
So here you go – my long-term user review of Rakuten Trade!
For me, Rakuten Trade is a solid choice as it has the most balanced offering between value, functionalities, and rewards.
As the platform develops, I foresee Rakuten Trade will become even more user-friendly with time.
If you find this article useful, and would like to open your Rakuten Trade stock trading account, do consider using my referral link below to register for your account (or select ‘NoMoneyLah’ under ‘Educator’ when you register).
Open A Rakuten Trade Account Today!
Disclaimer:
This post contains affiliate links, which afford No Money Lah a small referral (and in return, support this blog) if you sign up for an account using my referral link. Rakuten Trade did not receive copy approval rights on this article – that means they are reading this article for the first time, right alongside you.
The information stated above is based on my personal experience and for purpose of sharing such experience only. It is not intended as professional investment advice. Please contact Rakuten Trade for more information.
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.

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:

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 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 |

(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:
Check this out as I put Moomoo MY's pricing structure in comparison to the likes of Rakuten Trade and Webull Malaysia:
(i) Moomoo MY vs Rakuten Trade fee comparison for the Malaysia stock market (Promo: First 180 days 0 commission trades for new users):

(ii) Moomoo MY vs Rakuten Trade fee comparison for the Malaysia stock market (after 180 days):
Moomoo MY offers a more competitive rate from RM10,000 onwards for Malaysia stock market.

(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):

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

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

- US stock market:

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.

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:

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).

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:

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:

- 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.

#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:

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.

#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.

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

#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

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

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!

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.

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?

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.

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.

Step 2: Fill in your personal details

Step 3: Verify your identity through your IC

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

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

Step 5: Enter your employment details and financial information:

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

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

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.

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.

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

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.
I didn't trust Moomoo Malaysia (MY), until I learned that…
You've probably come to this article as you are unsure if you should use moomoo MY as your go-to platform to build your investment and trading portfolio.
Over the past 1 year since its launch in Malaysia, I've received many inquiries on moomoo MY.
In today's post, I'd like to address the most-asked question of all:
Is moomoo MY a trustworthy and reliable platform to invest and trade stocks?
In this post, I'll focus my research on the reliability of moomoo MY as a trading platform - let's go!
Related Links
Highlights: I didn't trust Moomoo, until I learned that...
- It is a locally-regulated broker in Malaysia: 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.
- My funds in moomoo MY are safe & protected: Moomoo MY clients’ fund is protected by Capital Market Compensation Fund (CMC Fund), allowing me to claim up to RM100,000 on eligible Malaysia securities/assets in the unlikely event that moomoo MY is unable to pay clients due to bankruptcy or fraud.
- It is owned by a publicly-listed company: Moomoo MY's parent company, Futu Holdings is publicly listed in the US (NASDAQ: FUTU) with a market cap of over USD 16 billion as of Financial Year (FY) 2024.
- Futu Holdings is a strong brand & reliable brand for securities trading: Aside from Malaysia, FUTU has a growing & strong presence in the US, Canada, Australia, Japan, Singapore, and Hong Kong, with over 25 million global users.


What is Moomoo Malaysia (MY)?
Moomoo MY (registered under the name Moomoo Securities Malaysia Sdn. Bhd.) is Malaysia's top one-stop trading platform that offers access to the stock market in addition to the most updated financial news, investment education, and community learning.
Its parent company, Futu Holdings, is listed in the US stock market (NASDAQ: FUTU).
Who are FUTU largest shareholders?
Founded in 2007, Futu Holdings is listed in the US stock market (NASDAQ) in 8th of March, 2019.
As of March 2025, FUTU 2 major shareholders are the CEO of FUTU, Mr Leaf Hua Li (36.6%), with backing from Tencent Holdings (20.55%) - the largest publicly-listed company in Hong Kong by market cap. Aside from that, BlackRock and Morgan Stanley also own a stake of 1.92% and 1.73% in FUTU respectively:

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

(2) Member & trading participant of Bursa Malaysia
As a trading participant of Bursa Malaysia, Moomoo MY must adhere to just & equitable principles, act with due skill, care, and diligence, and ensure the market remains orderly and fair.
In other words, moomoo MY must ensure its business activities are run as per the best practices & rules set by the authority:

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

(4) Your funds are protected by Capital Market Compensation Fund (CMC Fund)
As an additional layer of security, Moomoo MY clients’ fund is protected by Capital Market Compensation Fund (CMC Fund).
This allows clients to claim up to RM100,000 on eligible Malaysia securities/assets in the unlikely event that moomoo MY is unable to pay clients due to bankruptcy or fraud.
p.s. One thing to note is that just like all other brokerages in Malaysia, Moomoo MY is not covered under Perbadanan Insurans Deposit Malaysia (PIDM) which covers eligible deposits up to RM250,000 per depositor per member bank. Instead, moomoo MY's clients are covered under the Capital Market Compensation Fund as mentioned above.
How Moomoo MY is establishing a strong presence in the investing community
In this section, I'll take an aerial view and explore not just Moomoo MY, but its parent company, Futu Holdings, as a business:
Part 1: moomoo business in Malaysia
Moomoo MY is launched in Malaysia in late February 2024. At the time of this writing, it has been more than 1 year from the launch.
Moomoo MY started by offering access to the Malaysia and US stock markets, which then incrementally introduced features such as:
- Access to Malaysia, US, Singapore, Hong Kong, and China stock markets
- The first Malaysia-regulated broker to offer options trading for the US market
- Cash Plus feature, consisting of low-risk, competitive yield funds for idle cash
- Fractional share trading for US market and odd lots trading for Malaysia & Hong Kong markets
- One-stop e-IPO subscription while offering margin facility to subscribe to IPO
- And many more
For more in-depth review of moomoo MY features and pricing, check out my full review HERE.

Within 7 months of operation, moomoo MY has attracted 500,000 users, with an average of 2,300 new sign-ups daily, demonstrating strong market recognition.

Part 2: moomoo Business around the world
moomoo MY's parent company, Futu Holding (FUTU), has been established for 12 years and was listed on the NASDAQ exchange in 2019.

Besides Malaysia, FUTU has securities businesses in the US, Canada, Australia, Japan, Singapore, and Hong Kong, with over 25 million global users.

In other words, the entities of FUTU are licensed & regulated by the respective authorities of the countries they are in:
- US: Regulated by the US. Securities and Exchange Commission (SEC) and National Futures Association (NFA)
- Singapore: Regulated by the Monetary Authority of Singapore (MAS)
- Australia: Regulated by the Australian Securities and Investments Commission (ASIC)
- Canada: Regulated by the Canadian Investment Regulatory Organization (CIRO)
- Malaysia: Regulated by the Securities Commission Malaysia (SC)
Is FUTU, Moomoo MY's parent company thriving as a business?
With growing presence globally, FUTU has achieved steady growth throughout the years.
That said, how does FUTU make money?
As of the latest Financial Year (FY) 2024, FUTU's key revenue comes from Interest Income (49.06%) and Brokerage Commission (44.48%).

While it is no secret that Interest Income and Brokerage Commission are 2 important sources of income for a brokerage business, FUTU's unique expansion strategy is what makes the company shine:
As of the Financial Year (FY) 2024, FUTU has acquired more than 25 million registered users globally.
By growing their presence via competitive fees and quality products & service, it has helped accelerate FUTU's customer acquisition. With this trajectory, I am optimistic about FUTU's growth as a company.

#1 Steady Revenue & Net Income Growth:
FUTU has delivered steady growth in revenue and net income over the years.
In Financial Year (FY) 2024, FUTU achieved a USD1.75B in revenue (+36.52% growth) and USD699.56M in net income (+27.66% growth) respectively.

#2 Steady growth delivered continuous value to investors
FUTU's steady growth has been rewarding to investors in return.
For instance, FUTU's Earning-Per-Share (EPS) continued to grow with time, hitting USD5.01/share in FY 2024, a 27.79% growth over the previous year.
FUTU's Return on Equity (ROE) has also been encouraging at 20.71% in FY2024 (+9.86% growth over previous year). A positive and growing ROE indicates that FUTU is utilizing investors' capital efficiently to grow the company.

#3 A healthy margin and efficient headcount
FUTU also runs its business at a healthy margin of 39% to 40+% over the years.
A key advantage of FUTU as a digital brokerage over traditional brokerages is the company's ability to:
- Leverage on technology (eg. online account opening and customer support) and;
- Rely less on physical space, resulting in a more efficient business which translates to a more profitable business model.
Despite the company's expansion, FUTU ensures that revenue continues to grow with every hire (headcount).

No Money Lah's Verdict: Featureful & reliable trading platform for all Malaysians
So there you have it - my walkthrough on Moomoo MY's background as a brokerage and the business of its parent company (FUTU).
I hope this gives you a clearer picture of moomoo and the progress the team made over the years, as a display of their commitment to serve the global community when it comes to wealth-building and investing.
If you have any questions, feel free to leave your them at the comment section!
Disclaimers:
All views expressed are the independent opinions of myself, which are not shared by Moomoo Securities 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.
How much can the stock market drop before it recovers?
The stock market has been WILD over the past few days!
As of this writing (9/4/2025), the US stock market (S&P500) has dropped by 19% from its high in February 2025.
The question is, how much more can the stock market drop?
Let's find out:
READ MORE:
Q1: How much can the US stock market (S&P500) drop in a year?
Short Answer: Historically (1980 - 2024), between 3% to 49%, with an average of 14.1%.
The red figures in the following photo show how much the S&P500 declined every year for the past 45 years (1980 - 2024).
This shows us that...
- A 10+% market drop in a year is very normal (Occurred 16 times in the past 45 years)
- 20 - 30% declines are also more common than you think (Happened 8 times in the past 45 years)

Q2: Where are we now?
Currently, the S&P500 has declined by about 19% from its highest point in February 2025:

A bear market is defined by a >20% drop from its high.
Given the escalating uncertainties, I'd not be surprised to see the S&P500 enter a bear market soon.

Q3: The challenge of buying the dip in a S&P500 bear market:
Despite the past crises, the US stock market tends to go up in the long run:

This makes buying the dip as the stock market falls attractive, but it is not without its challenges.
The tricky part here is:
- We do not know when exactly the bear market will hit bottom. It could be as short as 1 month, or even multiple years. As such, we need to endure the road to the bottom and along with its slow recovery.
- We need to have the mental conviction to stick to our investment as a long-term investor throughout the noise and fear during the bear market.
Q4: How long does the S&P500 take to bottom & recover from a bear market? (1980 - 2024)
If the S&P500 does go into a bear market in 2025, it is helpful to know the info below:
A quick glance at the bear markets from 1980 to 2024 shows that:
- The time taken for a bear market to bottom can range from 1 month (Covid-19 crash) to 30 months (Dot-com bubble).
- The time taken for a bear market to recover can range from 6 months (Covid-19 crash) to 7 years (Dot-com bubble).

The table above teaches us a few things:
- It is very difficult to predict the bottom. Ranging from 1 month to 30 months, it could be anything.
- All bottoms are reached FASTER than they took to recover. It shows that patience is required on the road to recovery - it will test your conviction!
Either way, you can get a better visual for how stocks 'bottom fast and recover slow' from the chart below. It highlights every 20%+ decline (bear market) in S&P500 (in orange) and its subsequent recovery (in green):

Q5a: What not to do during a bear market?
4 things, namely:
- Don't panic-sell your long-term investments.
- Never use the money you need for your expenses and commitments to invest.
- Never borrow money to buy the dip!
- Don't give in to Fear Of Missing Out (FOMO) and invest in things you don't understand
Q5b: What to do during a bear market?
- Follow your investment plans. If Dollar Cost Average (DCA) is your routine, stick to your plan.
- If you have extra money to invest during the dip, do it within your means. Understand that a dip and dip further.
- Make sure your emergency funds and savings are sufficient. In the past, some bear markets happened alongside a global recession (eg. Global Financial Crisis, Covid-19), which led to layoffs. You've got to prepare for this.
- Journal your feelings as you go through this bear market. Recording and acknowledging my emotions and sticking to my investment routine anyhow was my biggest learning and growth when I went through the 2022 bear market.
Verdict: There's light at the end of every tunnel
The stock market tends to go up in the long run despite the volatility and crises.
While the stock market is and will continue to be bumpy, it is one of the best instruments that everyday people can access to grow their wealth.
Now that you've finished this post, I'm sure you are much more informed than your peers in investing.
Hope you find this insightful and thanks for reading!
Disclaimers:
None of the information contained herein constitutes a recommendation, promotion, offer, or solicitation of an offer to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Investment involves risks. Investors should obtain their own independent financial advice and understand the risks associated with investment products and services before making investment decisions.
Any discussion or mention of an stocks or 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.
Trump & Tariffs: How to manage uncertainties in the world
What a week!
By now, you should've heard the news - where Malaysia and Singapore have been hit with a 24% and 10% reciprocal tariff by Trump (the almighty US president).
In this newsletter, I want to discuss this topic from a more personal lens:
- How will all of these affect you?
- Is your job and income safe?
Quick recap: What happened?
- Trump introduced a 'reciprocal' tariff on multiple countries, including MY and SG, to reduce US' trade deficit and encourage jobs to flow back to the US.
- Basically, Trump is saying:
"MY & SG, you guys have been charging us tariffs, now it's time for us to charge you back."
Ultimately, he is forcing the world to go to the negotiation table so he can negotiate a 'fairer' trade deal for the US.
To learn more about tariffs, I posted my quick thoughts on IG HERE, or check out these amazing videos HERE and HERE.
Now that's out of the way, here's my thoughts on how it'll affect you and potentially, your career:
How will all these affect you?
Above all, the broad-based tariff that Trump introduced has one key impact: It is more expensive to do business with the US.
- Loss of job opportunities: Some US companies may need to relocate their business facilities/resources back to the US.
- Things may become more expensive: Some companies may have to rebuild their supply chain, which will disrupt the business in the short to medium term. Things will (generally) become more expensive as consumers bear the cost of all these rebuildings.
- Weaker currency: Currencies like MYR could become weaker relative to the USD in the long run.
"Am I at risk here?"
At the time of writing, our leaders are probably seeking to negotiate with the US - so from now to 9th April (the day Trump's tariff becomes effective), anything is possible.
Regardless, under Trump's rule, I think some people's livelihoods might be at more risk than others:
- If you work for a US company that is located outside the US. (Risk: Company reducing workforce or relocating back to the US)
- If the company you work for has a lot of clients from the US. (Risk: Potential slowdown in business, cost-cutting, or layoffs)
- If you run a business with a lot of clients from the US. (Risk: Higher cost of doing business)
Is a Recession coming?
A recession is generally defined by at least 2 consecutive quarters of shrinkage in economic growth (GDP).
Here's how I think it could happen:
- Tariffs cause abnormal inflation in the US
- The US Federal Reserve (FED) might be forced to raise its already high interest rate to slow inflation.
- High interest rate makes borrowing more expensive, leading to a slowdown in US economy.
- The world economy is dragged along as the US is the world's largest consumer market.
Simply put, if the US caught fire, we'd also get into trouble.
Let's hope I am wrong, though many institutions are now looking at potential recession should the tariff go as planned (note: These institutions always get their predictions wrong though, haha!).

What can we do?
On the brighter side, I think we still have time to prepare for all these potential uncertainties:
- Career prep: It's a good time to reflect on our strengths and skillsets. Are my existing skills transferable to other companies or industries? Should I consider upgrading my skillsets?
- Emergency funds: Do I have 3 -6 months of life expenses saved up? If not, it is a good time to replenish my emergency fund (cut spending, save up).
- Investment: The stock market tends to be bullish in the long run. Avoid disturbing your long-term investment routine regardless of market conditions and news.
Final thoughts: Never put yourself in the mercy of others
Regardless of how this tariff situation would turn out in the end, this incident taught me a great lesson:
- Never overrely on one source of income - be it as a country or a person.
When countries rely too much on the US (or even China) for trade, they are at the mercy of these big powers at the negotiation table.
When we rely only on a single source of income, we are at the mercy of our superiors/clients without the freedom of choice.
That's why I built the Freedom Fund, my dividend portfolio, so one day I can achieve 100% freedom to pursue meaningful projects in life without having to worry about money.
I hope this post has been helpful, stay tuned as I will be sharing more dividend investing insights in the coming weeks!
- Yi Xuan
Disclaimers:
None of the information contained herein constitutes a recommendation, promotion, offer, or solicitation of an offer to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Investment involves risks. Investors should obtain their own independent financial advice and understand the risks associated with investment products and services before making investment decisions.
Any discussion or mention of an stocks or 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.