Best Stock Market Broker in Malaysia for the Year 2025
Written by Akash Khanna
Edited by Samuel Black
Fact-checked by Lisa Khan
Last Updated – 05 February 2025
For over four years, BrokersinForex.com has led the way in reviewing various online forex and stock brokers. Each year, we gather extensive data and provide in-depth research to help you make informed decisions on your choice for forex and stock brokers. Learn more below!
- Stock Market Trading in Malaysia | Malaysia Stock Brokers
- Best Stock Market Brokers in Malaysia | Stock Broker Malaysia
- Malaysian Stock Market Brokers Compared
- Which is the Best Forex Broker in Malaysia?
- Can you Trust Your Broker?
- What to Consider Before Choosing Your Stock Market Broker in Malaysia?
- Is Stock Trading Legal in Malaysia?
- How Does Stock Trading Work in Malaysia?
- Are Stock Market Trading Apps Legal for Use In Malaysia?
- Do You Have to Pay Taxes on Gains in Stock Trading in Malaysia?
- Who Regulates Stock Trading in Malaysia? | Stock Broker Malaysia
- Which Broker do I Choose to Trade Stocks in Malaysia?
- What’s the Best Stock Market Trading App in Malaysia?
- What Are the Costs Involved in Trading Stocks in Malaysia
- How to Buy Stocks in Malaysia Today?
Stock Market Trading in Malaysia | Malaysia Stock Brokers
Stock market trading (i.e. trading shares of a company listed on the Bursa Malaysia exchange) is a little like stepping into a fast-paced arena where fortunes are made and lost with the rise and fall of share prices. In order to buy or sell stocks you first need an account with a Stock Broker in Malaysia.
It’s all about buying and selling slices of companies—yes, you can own a tiny piece of your favourite brands! Think Nestle (Malaysia) Bhd., Heineken (Malaysia) Bhd., or even Tenaga Nasional Bhd – which are some of the top 100 companies listed on the Malaysian stock exchange – Bursa Malaysia.
Traders analyse market trends, crunch numbers, and sometimes rely on their gut instincts to predict which stocks will soar and which might stumble. Whether you’re a quick-on-your-feet day trader or a patient long-term investor, it’s a thrilling mix of strategy, timing, and a little bit of luck. Sure, the stakes are high, but so is the excitement—every trade feels like a move in a giant, real-life game of chess.
Best Stock Market Brokers in Malaysia | Stock Broker Malaysia
On the hunt for the best stock market brokers in Malaysia? You’re in the right place! We’ve curated an exclusive list of top-tier stock brokers in Malaysia, ranking them after a deep dive into the best trading platforms available online today. Get ready to discover your perfect match!
Malaysian Stock Market Brokers Compared
Looking to size up the most popular Malaysia stock market brokers? You’re in the right spot!
Our summary table below offers a quick, at-a-glance comparison, saving you time and hassle. We’ve ranked the top brokers in Malaysia based on expert evaluations, making it a breeze to find your perfect trading partner. So, what are you waiting for?
Dive in and start your trading journey today!
Which is the Best Stock Market Broker in Malaysia?
Looking for the best stock market broker in Malaysia? Say hello to Webull—your ultimate trading partner!
Among the most popular stock brokers accepting Malaysian traders, Webull stands tall, consistently dominating the rankings where it matters most. As one of the largest internationally accredited brokers, Webull has built a rock-solid reputation for trust and reliability. The game-changer? Webull is now officially accredited with Bursa Malaysia, giving you seamless access to locally listed companies and international markets like the U.S., Hong Kong, and Singapore.
Whether you’re a trading rookie or a seasoned pro, Webull has you covered with intuitive tools, educational resources, and free demo accounts to sharpen your skills. Ready to take your trading to the next level? Dive into our full Webull review to see why it’s the perfect fit for Malaysian traders!
| Broker | Min Deposit | Fees for MY Markets | Fees for US Markets | Markets Available | Margin Trading | Trading Platform | Overall Rating |
|---|---|---|---|---|---|---|---|
|
Nil |
0% for 90 days & no platform fee |
0% for 90 days & no platform fee |
Malaysia, US, HK, China |
Available |
Advanced charting & paper trading |  | |
|
Nil |
0% for 180 days & RM 3 platform fees |
0% for 180 days & RM 3 platform fees |
Malaysia, US, Singapore, HK & China |
Available |
Good interface & social trading feature |  | |
|
Nil |
0.08% of trade value with min. RM 12 |
USD 0.005 per share. Min USD 1 per order |
Malaysia, US, Hong Kong, Singapore, EU etc. (100+ markets) |
Available |
Professional grade but rather steep learning curve | |
Can you Trust Your Stock Market Broker?
When it comes to managing your investments, trust is paramount, but can you really trust your stock broker?
While many stock brokers are reputable professionals dedicated to helping clients achieve their financial goals, the industry is not without its risks.
Conflicts of interest, hidden fees, and varying levels of expertise can sometimes lead to decisions that prioritize the broker’s gain over the client’s best interest. It’s essential to thoroughly research your broker’s credentials, understand their fee structure, and ensure they are registered with regulatory bodies like the Securities Commission (SC) or Bank Negara Malaysia (BNM).
Additionally, staying informed about your investments and asking questions can help you maintain control and ensure transparency. Ultimately, trust should be earned through consistent, ethical behaviour and clear communication, not simply assumed when it comes to stock brokers.
What to Consider Before Choosing Your Stock Market Broker in Malaysia?
Think of this as your treasure map, guiding you to the gold (or at least, a broker who won’t sink your ship). Here’s what you need to know to pick the perfect trading partner to suit your needs:
1. Regulation and Security: The Investor’s Armour
Picture this: you’re about to hand over your hard-earned cash to someone. Wouldn’t you want to know they’re legit? That’s where regulation comes in. A broker licensed by the Securities Commission Malaysia (SC) and Bursa Malaysia is like a knight in shining armor—they’ve got rules to follow and your best interests at heart.
No shady business here. Always check for that regulatory stamp of approval. Your money deserves nothing less.
2. Trading Fees and Commissions: The Sneaky Culprit
Let’s be real—no one likes hidden fees. Brokers charge for executing trades, and these costs can often sneak up on you like a ninja. Some brokers are upfront and affordable, while others… well, let’s just say they’ve got a knack for nickel-and-diming you.
If you’re a frequent trader, those fees can eat into your profits faster than you can say “bull market.” So, shop around for a broker with fees that won’t make your wallet cry.
3. Trading Platforms: Your Batcave
Your trading platform is your Batcave—your command center for all things investing. A clunky, outdated platform is like trying to fight crime with a flip phone.
You want something sleek, fast, and packed with tools to help you make smart moves. Look for real-time data, easy navigation, and mobile access so you can trade on the go.
Bonus points if it looks cool—because who doesn’t want to feel like a Wall Street pro when it comes to trading the stock market?
4. Range of Investment Options: The Buffet of Opportunities
Why settle for just one flavor when you can have the whole buffet? Some brokers offer a variety of investment options—local Malaysian stocks, international markets, ETFs, bonds, you name it.
If you’re the type who likes to diversify (and you should be), pick a broker that lets you spread your wings. After all, you don’t want to miss out on the next big thing because your broker only deals in one market.
5. Customer Support: Your 24/7 Lifeline
Let’s face it—things go wrong. Maybe your trade didn’t go through, or you’re staring at your screen wondering what “margin call” even means.
That’s when good customer support becomes your best friend. Look for brokers who offer multiple ways to get help—phone, email, live chat, carrier pigeon (okay, maybe not that last one). And if they’re quick to respond and actually know what they’re talking about? Priceless.
6. Educational Resources: Your Investing Playbook
If you’re new to the stock market, it can feel like stepping into a foreign country without a map. That’s where educational resources come in.
Think webinars, tutorials, market analysis, and trading guides. Some brokers even offer demo accounts so you can practice without risking real money. It’s like having a personal coach to help you level up your investing game. Knowledge is power, after all.
7. Account Types and Minimum Deposits: The Right Fit
Not all investors are created equal, and neither are brokerage accounts. Some brokers offer different account types tailored to your needs—whether you’re a casual trader or a high-roller. Check the minimum deposit requirements to make sure they fit your budget. And if you’re just starting out, look for brokers with low barriers to entry. No one wants to empty their savings just to open an account.
Is Stock Trading Legal in Malaysia?
Stock market trading is legal in Malaysia. Many top-rated brokers such as Webull, Moomoo and IBKR which are all regulated closely by Malaysian based regulators such as Securities Commission of Malaysia (SC) and Bank Negara Malaysia (BNM) are some of of our top picks.
| Broker | Min Deposit | Fees for MY Markets | Fees for US Markets | Markets Available | Margin Trading | Trading Platform | Overall Rating |
|---|---|---|---|---|---|---|---|
|
Nil |
0% for 90 days & no platform fee |
0% for 90 days & no platform fee |
Malaysia, US, HK, China |
Available |
Advanced charting & paper trading | | |
|
Nil |
0% for 180 days & RM 3 platform fees |
0% for 180 days & RM 3 platform fees |
Malaysia, US, Singapore, HK & China |
Available |
Good interface & social trading feature | | |
|
Nil |
0.08% of trade value with min. RM 12 |
USD 0.005 per share. Min USD 1 per order |
Malaysia, US, Hong Kong, Singapore, EU etc. (100+ markets) |
Available |
Professional grade but rather steep learning curve | |
How Does Stock Trading Work in Malaysia?
Stock trading in Malaysia is like stepping into a high-stakes game of strategy and intuition, played out on the Bursa Malaysia, the nation’s central stock exchange. Picture a digital arena where investors, from everyday individuals to large institutions, buy and sell shares of companies listed on the exchange.
These companies range from household names like Tenaga Nasional and AirAsia to promising newcomers in sectors like technology and renewable energy. To participate, investors open trading accounts with licensed brokers, who act as their gateway to the market. Orders are placed electronically, and trades are executed in real-time, with prices fluctuating based on supply and demand. The Bursa Malaysia ensures a transparent and regulated environment, while the Securities Commission Malaysia oversees the market to protect investors and maintain fairness. Whether you’re a cautious long-term investor or a thrill-seeking day trader, the Malaysian stock market offers a wealth of opportunities to grow your portfolio.
But what makes stock trading in Malaysia truly fascinating is its blend of local flavor and global influence. The market operates from 9:00 AM to 4:30 PM, with a lunch break—a uniquely Malaysian touch that reflects the country’s cultural rhythm. Investors rely on a mix of fundamental analysis (studying company financials and industry trends) and technical analysis (reading price charts and patterns) to make informed decisions.
Additionally, the Malaysian stock market offers diverse investment options, including exchange-traded funds (ETFs), real estate investment trusts (REITs), and derivatives, catering to different risk appetites and goals. Global events, such as shifts in oil prices or geopolitical developments, often ripple through the market, adding an extra layer of excitement. In Malaysia, stock trading isn’t just about numbers—it’s a dynamic journey where strategy, timing, and a bit of daring can lead to rewarding outcomes.
Are Stock Market Trading Apps Legal for Use In Malaysia?
Absolutely! Popular stock market trading apps such as Webull and Moo Moo which are super easy to use and intuitive are authorised for use and are legal in Malaysia.
This is primarily as these two apps belong to the fast growing and popular brokers Webull and Moomoo which are both regulated by Securities Commission Malaysia (SC) and Bank Negara Malaysia (BNM) and are authorised stock market brokers for use on trading stocks listed on the Bursa Malaysia.
In addition these popular stock market trading apps also allow ease of access to a wide range of international stock market exchanges such as those listed in Singapore, Hong Kong and the United States in a very cost effective manner.
If you choose to opt for another broker, always check if the broker is authorized by your local regulators before you start trading to safeguard your financial interests.
Do You Have to Pay Taxes on Gains in Stock Trading in Malaysia?
Here’s the great news!
If you’re trading stocks in Malaysia, here’s something to celebrate – you don’t have to pay taxes on your trading profits! 🎉
Unlike many countries that tax capital gains, Malaysia lets you keep 100% of your stock market winnings.
Malaysia does not have a capital gains tax on stocks, meaning any profit you make from buying and selling shares stays in your pocket. Sounds great, right?
But wait…. What’s the catch?
- No tax on stock trading gains – Whether you hold for a day or a decade, your profits are tax-free
- Dividends? Mostly tax-free! – Malaysian companies already pay corporate tax before distributing dividends, so you won’t be taxed again.
However if you’re a full time trader, and if trading is your primary income source, the tax authorities might consider it business income, which could be taxable. But this is rare and assessed on a case-by-case basis by the LHDN (Lembaga Hasil dalam Negeri Malaysia) – which is the national tax authority of Malaysia.
Who Regulates Stock Trading in Malaysia? | Stock Broker Malaysia
If you’re diving into the Malaysian stock market, you might be wondering—who’s keeping things fair and square? Well, meet the key regulators that ensure everything runs smoothly.
Securities Commission Malaysia (SC) – The Big Boss
Think of the Securities Commission Malaysia (SC) as the guardian of the stock market. It sets the rules, licenses brokers, and ensures no shady business happens. If a company or trader tries to play dirty, the SC is there to crack down!
Bursa Malaysia – The Stock Market Playground
Bursa Malaysia is the official stock exchange where all the buying and selling action happens. It makes sure listed companies follow the rules and that traders have a fair and transparent market to operate in.
Bank Negara Malaysia (BNM) – The Money Watcher
While Bank Negara Malaysia often focuses more on Malaysia’s financial stability, it also plays a role in regulating foreign exchange (forex) trading and ensuring the economy stays balanced.
Why do the above regulators matter to you as a stock trader on the Bursa Malaysia?
Thanks to the vigilance and the diligence of the above authorities regulating the stock market trading actives on the Bursa Malaysia exchange, you as a stock trader can be assured of the following:
- Trade with confidence – These regulators protect you from fraud and market manipulation.
- Staying legal – Only trade with licensed brokers approved by the SC.
- Know your rights – If you ever face unfair practices, these regulators have your back.
So, whether you’re a newbie investor or a seasoned trader, rest assured—Malaysia’s stock market is in safe hands!
| Broker | Min Deposit | Fees for MY Markets | Fees for US Markets | Markets Available | Margin Trading | Trading Platform | Overall Rating |
|---|---|---|---|---|---|---|---|
|
Nil |
0% for 90 days & no platform fee |
0% for 90 days & no platform fee |
Malaysia, US, HK, China |
Available |
Advanced charting & paper trading | | |
|
Nil |
0% for 180 days & RM 3 platform fees |
0% for 180 days & RM 3 platform fees |
Malaysia, US, Singapore, HK & China |
Available |
Good interface & social trading feature | | |
|
Nil |
0.08% of trade value with min. RM 12 |
USD 0.005 per share. Min USD 1 per order |
Malaysia, US, Hong Kong, Singapore, EU etc. (100+ markets) |
Available |
Professional grade but rather steep learning curve | |
Which Broker do I Choose to Trade Stocks in Malaysia?
Picking the right stockbroker in Malaysia is like choosing a travel companion—you want someone reliable, affordable, and able to take you where you want to go.
The first rule? Make sure your broker is licensed by the Securities Commission Malaysia (SC) and a participant of Bursa Malaysia. A great broker, like Webull (#1 Top Pick for Stock Broker in Malaysia) should offer an easy-to-use platform, reasonable brokerage fees, and access to both local and global stocks. If you’re a beginner, go for a broker that provides learning resources, market insights, and a smooth mobile trading experience. Some popular names in Malaysia include Webull, Moo Moo, IBKR, Maybank Investment Bank, CIMB Securities and others.
Now, think about your trading style. Are you a fast-paced trader who loves the thrill of buying and selling, or a long-term investor playing the patience game? If you’re an active trader, you’ll want a broker with low fees and lightning-fast trade execution.
But if you’re in it for the long haul (more of a buy and forget), research tools and portfolio tracking features will matter more. Don’t forget customer service—when you need help, you want a broker that actually picks up the phone! The best choice is one that matches your strategy, keeps your costs low, and makes your trading journey smooth and profitable.
Based on our extensive testing and research, Webull is currently our Number #1 Top Pick for Stocker Broker in Malaysia based on the above factors.
What’s the Best Stock Market Trading App in Malaysia?
After testing the top mobile apps from more than 10 both local and international stock brokers, we at BrokersinForex.com pick Webull as our top choice. Offering a seamless and powerful trading experience, Webull’s Trading app is available for both Android and iOS devices.
Webull app is intuitive to use eve for beginners, features a great user-interface, easy to sign up after downloading and offers a wide range of trading instruments such as individual stocks, ETFs (Exchange Traded Funds), bonds and warrants amongst others.
It also offers access to various international markets such as Singapore, Hong Kong and the Unites States utilising the same app so you can easily track your complete portfolio easily.
What Are the Costs Involved in Trading Stocks in Malaysia?
If you’re using our recommended stockbroking platforms such as Webull and Moomoo for stock trading in Malaysia, the costs will be a mix of brokerage fees, taxes, and potential other charges. While these platforms are known for offering low-cost trading compared to traditional brokers, it’s important to understand their fee structures.
1. Brokerage Fees:
Webull: Webull is known for offering commission-free trading on U.S. stocks, ETFs, and options. However, keep in mind that there could still be small fees from the exchange (like regulatory fees or SEC fees in the U.S.), which are typically very low. Webull also offers zero-commission trading for Malaysian investors who trade on U.S. markets via the app.
Moomoo: Similar to Webull, Moomoo offers commission-free trading for U.S. stocks and ETFs. Moomoo’s fees are generally free on U.S. stock trades, but there may be exchange fees or small regulatory charges. If you trade stocks on Bursa Malaysia (through Moomoo), you might be subject to the standard brokerage fees, which typically range from 0.1% to 0.3% per trade (similar to traditional Malaysian brokers).
2. Stamp Duty:
Regardless of whether you use Webull or Moomoo, stamp duty is applicable when trading Malaysian stocks. The stamp duty is 0.1% of the transaction value for both buying and selling, with a cap of RM200 per transaction. This applies to Bursa Malaysia trades, so if you’re trading on U.S. exchanges via Webull or Moomoo, this won’t apply.
3. Clearing Fees:
The clearing fees are charged by the Malaysian Clearing House and are typically 0.03% of the transaction value, similar to other brokers on Bursa Malaysia. This applies to domestic trades on Bursa Malaysia but not to U.S. stocks.
4. Currency Conversion Fees:
If you trade U.S. stocks or other foreign markets using Webull or Moomoo, you may need to convert your funds to USD(or the relevant currency). Both platforms charge a currency conversion fee when transferring funds between your Malaysian Ringgit (MYR) and foreign currencies. The fee is usually around 1% or slightly higher, depending on the platform and the amount of currency being exchanged.
5. Other Charges:
- Moomoo and Webull both offer free access to trading tools like charts, market data, and research resources.
- If you use advanced features (such as margin trading or access to premium tools), there could be additional charges depending on the platform’s specific services.
Key Takeaways:
- Webull and Moomoo offer commission-free trading for U.S. stocks and ETFs, which is great if you plan to trade on global exchanges.
- For Bursa Malaysia (local stocks), you’ll face standard Malaysian fees, including stamp duty, clearing fees, and brokerage fees (around 0.1% to 0.3%).
- Both platforms have currency conversion fees if you’re trading in foreign markets.
So, whether you’re looking to trade locally or globally, both Webull and Moomoo offer competitive pricing, especially for U.S. stocks, while still adhering to the standard costs involved with domestic stock trades in Malaysia.
How to Buy Stocks in Malaysia Today?
Getting started with stock trading on Bursa Malaysia can be straightforward if you follow these steps. Here’s a guide to help you take the plunge into the Malaysian stock market today!
1. Choose a Licensed Broker
First, you’ll need to choose a stockbroker. In Malaysia, you can’t trade directly on Bursa Malaysia without going through a licensed broker. Some popular brokers include Webull, Moo Moo and MQ Trader (Malacca Securities). These online stockbrokers offer competitive fees and are often very beginner-friendly.
2. Open a Trading Account
Once you’ve selected a broker, the next step is to open a trading account. Most brokers offer online registration, and you’ll need to provide some personal information, including:
- Identification (e.g., NRIC or Passport)
- Proof of Address
- Bank account details (to transfer funds for trading)
Some brokers offer paperless registration, while others may require you to visit a branch. Be sure to check the specific requirements for your chosen broker.
3. Set Up a Central Depository System (CDS) Account
To trade on Bursa Malaysia, you’ll need a Central Depository System (CDS) account. This account holds the shares you purchase. Your broker will guide you through setting up a CDS account, and it’s usually linked to your trading account. If you’re using an online broker, the CDS account setup is often done automatically when you register.
4. Fund Your Trading Account
Once your trading account and CDS account are set up, you’ll need to fund your account. Brokers typically allow you to deposit money via bank transfer, cheque, or e-wallet (depending on the broker). Make sure to check the minimum deposit requirements for your broker.
5. Choose a Trading Platform
Most brokers will provide you with access to a trading platform where you can place buy and sell orders. Some popular platforms include Webull and Moo Moo. You can either use a desktop platform or download a mobile app to trade on the go.
6. Start Researching Stocks
Before making any trades, it’s important to research the stocks you’re interested in. You can use the tools provided by your broker, such as stock screeners, news, and market analysis. Many brokers also offer educational materials to help you make informed decisions.
7. Place Your First Trade
Now you’re ready to place your first buy order! Here’s how:
- Select the stock you want to buy.
- Enter the quantity of shares you want.
- Choose the order type (e.g., market or limit order).
- Confirm your trade and place the order.
Once your order is executed, the shares will be credited to your CDS account or your broker’s nominee account, and you’ll officially own a piece of the company!
8. Monitor Your Portfolio
After your first trade, you can track your portfolio’s performance through your broker’s trading platform. Many platforms offer features like price alerts, real-time charts, and portfolio analysis to keep you updated.
9. Keep Learning and Stay Updated
The stock market can be volatile, so it’s important to keep learning and stay informed. Follow market trends, news, and updates related to stocks you own or are interested in. You can also join online trading communities or read investment books to enhance your knowledge.
Alternatively if you’re from Singapore and would like to learn how you could trade in the Singapore Stock Exchange – check out our article here.
| Broker | Min Deposit | Fees for MY Markets | Fees for US Markets | Markets Available | Margin Trading | Trading Platform | Overall Rating |
|---|---|---|---|---|---|---|---|
|
Nil |
0% for 90 days & no platform fee |
0% for 90 days & no platform fee |
Malaysia, US, HK, China |
Available |
Advanced charting & paper trading | | |
|
Nil |
0% for 180 days & RM 3 platform fees |
0% for 180 days & RM 3 platform fees |
Malaysia, US, Singapore, HK & China |
Available |
Good interface & social trading feature | | |
|
Nil |
0.08% of trade value with min. RM 12 |
USD 0.005 per share. Min USD 1 per order |
Malaysia, US, Hong Kong, Singapore, EU etc. (100+ markets) |
Available |
Professional grade but rather steep learning curve | |
So stop delaying your financial future, get signed up with our Number #1 – WeBull recommended stock broker and start building your stock portfolio today
Article Resources:
Securities Commission of Malaysia (SC) – Securities Commission of Malaysia
Bank Negara Malaysia (BNM) – The Central Bank of Malaysia
Bursa Malaysia – Malaysian Stock Exchange
LHDN (Lembaga Hasil Dalam Negeri) – Inland Revenue Services of Malaysia
