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Best international online brokers in Malaysia in 2024

Written by
Adam N.
Fact checked by
Updated
May 2024
Dive into our toplist of regulated and trusted brokers that we tested with real money. Every broker is available in the United States.

Find below the strengths of the best brokers available in Malaysia, updated for 2024:

  1. Interactive Brokers is the best international online brokers in Malaysia in 2024. - Extremely low fees. Wide range of products. Many great research tools.
  2. Saxo - Great trading platform. Outstanding research. Broad product portfolio. Interest paid on uninvested cash.
  3. XTB - Commission-free stocks and ETFs (for trades up to €100k per month). Free and fast deposit and withdrawal. Easy and fast account opening. High interest paid on cash.
  4. moomoo - Commission-free stock and ETF trading. Fast and easy account opening. Quality analytical tools and excellent education services. Pays high interest on uninvested cash.
  5. Oanda - Great trading platforms. Outstanding research tools. Fast and user-friendly account opening.
  6. TradeStation Global - Low stock and ETF fees. Wide range of products. Easy-to-use web trading platform.
  7. Admirals (Admiral Markets) - Low forex CFD fees. Free and fast deposit and withdrawal. Straightforward account opening.
  8. NinjaTrader - Low trading fees. Great platform and research. Quality educational materials.
  9. IG - First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
  10. Forex.com - Low forex fees. Great variety of currency pairs. Diverse technical research tools.
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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.

Broker
Overall score
Minimum deposit
Interactive Brokers
4.9
/5
$0
Saxo
4.9
/5
$0
XTB
4.8
/5
$0
moomoo
4.6
/5
$0
Oanda
4.5
/5
$0
TradeStation Global
4.5
/5
$0
Admirals (Admiral Markets)
4.5
/5
$100
NinjaTrader
4.5
/5
$0
IG
4.5
/5
$0
Forex.com
4.5
/5
$100
Best online brokers in 2024

Popularity of the best online brokers in Malaysia

Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.

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.

Broker
US stock
US stock options
Interactive Brokers
$1.0
$6.5
Saxo
$1.6
$20.0
XTB
$0.0
-
moomoo
$0.0
$0.0
Oanda
$0.0
-
TradeStation Global
$1.5
$15.0
Admirals (Admiral Markets)
$0.0
-
NinjaTrader
-
-
IG
$15.0
-
Forex.com
-
-
Fees at the best international online brokers in May 2024

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.

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.

Our assessment of best international online brokers for residents in Malaysia in 2024

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.

Broker
Overall score
Fees score
Interactive Brokers
4.9
/5
4.3
/5
Saxo
4.9
/5
3.0
/5
XTB
4.8
/5
4.5
/5
moomoo
4.6
/5
4.8
/5
Oanda
4.5
/5
4.1
/5
TradeStation Global
4.5
/5
3.7
/5
Admirals (Admiral Markets)
4.5
/5
3.7
/5
NinjaTrader
4.5
/5
4.3
/5
IG
4.5
/5
3.5
/5
Forex.com
4.5
/5
3.7
/5
Score summary of best international online brokers for residents in Malaysia

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 2024 for residents in Malaysia in detail one by one, starting with the winner, Interactive Brokers.

Recommended for traders looking for broad market access and a professional trading environment

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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 2024

Recommended for investors and traders looking for a great trading platform and solid research

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Saxo snapshot
Minimum deposit $0
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 No
Read review For a detailed analysis of Saxo services, check out our review for 2024
XTB Logo

XTB

Recommended for forex and CFD traders looking for low fees and great deposit/withdrawal service

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76-85% of retail CFD accounts lose money

XTB snapshot
Minimum deposit $0
Fees class Low
Deposit method Bank transfer, Credit/debit cards, Paysafe, Skrill, ecommpay, PayU, PayPal
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 2024

Recommended for investors and traders looking for zero-commission trading and focusing on US markets

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moomoo 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 moomoo services, check out our review for 2024

Recommended for forex traders who value a user-friendly platform and great research tools

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78.3% of retail CFD accounts lose money

Oanda snapshot
Minimum deposit $0
Fees class Low
Deposit method Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller
Withdrawal method Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller
Withdrawal fee $0
Time to open account 1-3 days
Inactivity fee Yes
Read review For a detailed analysis of Oanda services, check out our review for 2024

Recommended for traders and investors looking for low fees and a wide selection of products

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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 2024

Recommended for forex traders who are familiar with the MetaTrader trading platforms

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80% of retail CFD accounts lose money

Admirals (Admiral Markets) snapshot
Minimum deposit $100
Fees class Low
Deposit method Bank transfer, Credit/debit cards, Skrill, PayPal, Klarna, Neteller, SafetyPay, AstroPay, Trustly, Rapid Transfer, NganLuong
Withdrawal method Bank transfer, Credit/debit cards, Skrill, PayPal, Klarna, Neteller, SafetyPay, AstroPay, Trustly, Rapid Transfer, NganLuong
Withdrawal fee $0
Time to open account 1 day
Inactivity fee Yes
Read review For a detailed analysis of Admirals (Admiral Markets) services, check out our review for 2024

Recommended for active traders focusing on futures

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NinjaTrader snapshot
Minimum deposit $0
Fees class Low
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Time to open account >3 days
Inactivity fee Yes
Read review For a detailed analysis of NinjaTrader services, check out our review for 2024
IG Logo

IG

Recommended for traders of any experience level looking for an easy-to-use trading platform

Visit broker
71% of retail CFD accounts lose money

IG snapshot
Minimum deposit $0
Fees class Average
Deposit method Bank transfer, Credit/debit cards, PayPal
Withdrawal method Bank transfer, Credit/debit cards
Withdrawal fee $0
Time to open account 1-3 days
Inactivity fee No
Read review For a detailed analysis of IG services, check out our review for 2024

Recommended for forex traders looking for low fees and great research tools

Visit broker
69-77% of retail CFD accounts lose money

Forex.com snapshot
Minimum deposit $100
Fees class Low
Deposit method Bank transfer, Credit/debit cards, Skrill, Neteller, PayPal
Withdrawal method Bank transfer, Credit/debit cards, Skrill, Neteller, PayPal
Withdrawal fee $0
Time to open account 1-3 days
Inactivity fee Yes
Read review For a detailed analysis of Forex.com services, check out our review for 2024

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How did we select the best international online brokers in Malaysia in 2024?

  • 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.
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Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.

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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Engage with our growing community of traders and investors like you to find your answers.
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Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

author image
Adam Nasli
Author of this article
I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.
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