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Intro and winners
Top 5 picks for best international online brokers in Malaysia in 2023:
- Interactive Brokers is the best international online brokers in Malaysia in 2023. - Low trading fees. Wide range of products. Many great research tools.
- XTB - Commission-free stocks/ETFs for some. Free and fast deposit and withdrawal. Easy and fast account opening.
- Saxo Bank - Great trading platform. Outstanding research. Broad product portfolio.
- TradeStation Global - Low stock and ETF fees. Wide range of products. Fast customer service.
- Capital.com - Low forex CFD fees and commission-free real stocks. Great account opening experience. Excellent email and chat support.
How did we select the best international online brokers in Malaysia in 2023?
- We checked whether the broker is regulated by a trusted regulator,
- Compared fees (including spreads, withdrawal fees, commissions),
- We checked and compared every aspect of their services,
- Opened an account and tested the platform (charting, features, usability) with real money.
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.
Now let's jump straight to the results.
Best international online brokers in Malaysia in 2023
International online brokers key info
While many international online brokers catering to Malaysian clients offer an excellent service, the ones in our top list go the extra mile. These international online trading platforms offer a broad range of markets and asset classes and are suitable for beginners and experienced traders alike.
| Interactive Brokers | XTB | Saxo Bank | TradeStation Global | Capital.com | |
|---|---|---|---|---|---|
| Overall score | 4.9 stars | 4.8 stars | 4.8 stars | 4.8 stars | 4.6 stars |
| Minimum deposit | $0 | $0 | $2,000 | $0 | $20 |
| Time to open account | 1-3 days | 1 day | 1 day | 1 day | 1 day |
Popularity of the best online brokers in Malaysia
Interested in what others think? Here's how many of our users chose these best online brokers over the last 6 months.
Best international online brokers in Malaysia in 2023
Fee comparison at the best online brokers in Malaysia
In most cases, the key broker selection criteria is how much you have to pay for a trade in spreads, commission and other trading costs, so we collected the most important fees for you in the table below.
| Interactive Brokers | XTB | Saxo Bank | TradeStation Global | Capital.com | |
|---|---|---|---|---|---|
| US stock | $1.0 | $0.0 | $10.0 | $1.5 | - |
| UK stock | $3.4 | $0.0 | $9.0 | $2.0 | - |
| EURUSD spread | 0.1 | 0.9 | 0.7 | 0.1 | 0.6 |
| US stock index options | $6.5 | - | $30.0 | $15.0 | - |
| Mutual fund | $15.0 | - | $0.0 | $25.0 | - |
| S&P 500 index CFD fee | $3.3 | $4.0 | $3.1 | $4.3 | $2.5 |
Best international online brokers in Malaysia in 2023
Financial market regulation and safety in Malaysia
The Securities Commission Malaysia (SC) is the financial markets regulator in Malaysia. Bank Negara Malaysia (BNM), the nation's central bank, is responsible for the stability of the Malaysian financial system. The brokers in our top list are all licensed to operate in Malaysia and are overseen by top financial authorities.
All brokers reviewed by BrokerChooser are safe and reliable as safety is one of the key criteria of our methodology. Malaysian residents can trust these brokers.
Unfortunately, unregulated, unlicensed brokers are very common in Malaysia. The SC regularly publishes investor alerts, featuring the names of potential scam brokers and entities. Check this page before you open an account with a broker.
Best international online brokers in Malaysia in 2023
Taxation of trading in Malaysia
As a general rule, profits made from stock trades are not taxed in Malaysia. However, the government may still treat your capital gains on shares as income and thus taxable, depending on the holding period and the source of funding (e.g. borrowing). If you as a retail investor buy and sell shares regularly, the gain could be treated as income and taxed accordingly.
Best international online brokers in Malaysia in 2023
Our assessment of best international online brokers for residents in Malaysia in 2023
At BrokerChooser we do our best to make it easier for you to compare and select the best broker for your needs. Here is a summary of our scores in the most important aspects of these trading platforms' services.
| Interactive Brokers | XTB | Saxo Bank | TradeStation Global | Capital.com | |
|---|---|---|---|---|---|
| Overall score | 4.9 stars | 4.8 stars | 4.8 stars | 4.8 stars | 4.6 stars |
| Fees score | 4.5 stars | 4.3 stars | 3.0 stars | 4.1 stars | 4.3 stars |
| Mobile platform score | 3.5 stars | 4.4 stars | 5.0 stars | 3.5 stars | 4.9 stars |
| Deposit and withdrawal score | 3.0 stars | 4.5 stars | 4.8 stars | 3.5 stars | 4.5 stars |
| Account opening score | 3.2 stars | 5.0 stars | 4.3 stars | 4.0 stars | 5.0 stars |
If you are unsure how brokerage fees are charged, check out this article on the various fees, charges and costs.
And now, let's see the top international online brokers for 2023 for residents in Malaysia in detail one by one, starting with the winner, Interactive Brokers.
#1 Best international online broker in Malaysia in 2022
Interactive Brokers
Recommended for traders looking for broad market access and a professional trading environment
| Interactive Brokers snapshot | |
|---|---|
| Minimum deposit | $0 |
| Fees class | Low |
| Deposit method | Bank transfer |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Time to open account | 1-3 days |
| Inactivity fee | No |
| Read review | For a detailed analysis of Interactive Brokers services, check out our review for 2023 |
#2 Best international online broker in Malaysia in 2022
XTB
Recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service
| XTB snapshot | |
|---|---|
| Minimum deposit | $0 |
| Fees class | Low |
| Deposit method | Bank transfer, Credit/debit cards, Paysafe, Skrill |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Time to open account | 1 day |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of XTB services, check out our review for 2023 |
#3 Best international online broker in Malaysia in 2022
Saxo Bank
Recommended for investors and traders looking for a great trading platform and solid research
| Saxo Bank snapshot | |
|---|---|
| Minimum deposit | $2,000 |
| Fees class | Average |
| Deposit method | Bank transfer, Credit/debit cards |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Time to open account | 1 day |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of Saxo Bank services, check out our review for 2023 |
#4 Best international online broker in Malaysia in 2022
TradeStation Global
Recommended for traders and investors looking for low fees and a wide selection of products
| TradeStation Global snapshot | |
|---|---|
| Minimum deposit | $0 |
| Fees class | Low |
| Deposit method | Bank transfer |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Time to open account | 1 day |
| Inactivity fee | No |
| Read review | For a detailed analysis of TradeStation Global services, check out our review for 2023 |
#5 Best international online broker in Malaysia in 2022
Capital.com
Recommended for investors and cfd traders looking for a great trading platform and excellent customer service
| Capital.com snapshot | |
|---|---|
| Minimum deposit | $20 |
| Fees class | Low |
| Deposit method | Bank transfer, Credit/debit cards, Apple Pay, PayPal |
| Withdrawal method | Bank transfer, Credit/debit cards, Apple Pay, PayPal |
| Withdrawal fee | $0 |
| Time to open account | 1 day |
| Inactivity fee | No |
| Read review | For a detailed analysis of Capital.com services, check out our review for 2023 |
Best international online brokers in Malaysia in 2023
FAQ
How to trade international stocks from Malaysia?
The most convenient way to trade and invest in international stocks from Malaysia is through an international broker. Choose a broker from among our top brokers recommended for Malaysian residents and after opening an account you can access international stock markets and trade stocks.
Which brokers are the most trusted to trade from Malaysia?
As a Malaysian resident, always choose a broker that is regulated either by the Securities Commission Malaysia (SC) or a reputable national regulator (i.e the FCA in the UK, ASIC in Australia, CySec in Cyprus or BaFIn in Germany). If safety is your key concern, you should look for a broker with a banking background or one that is listed on the stock exchange, as both these factors add to the safety profile of a broker.
Unfortunately, unregulated, unlicensed brokers are very common in Malaysia, and so are brokers that are registered only in jurisdictions that impose low-regulatory environments such as Belize, Mauritius, Labuan, Seychelles, and the British Virgin Islands. The SC regularly publishes investor alerts, featuring the names of potential scam brokers and entities. Check this page before you open an account with a broker.
Is Interactive Brokers legal in Malaysia?
Interactive Brokers (IB) is fully legal in Malaysia. As for safety, although IB is not regulated by the Securities Commission Malaysia, it is considered a safe broker as it is overseen by notable regulators.
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