How to buy U.S. shares in Malaysia and open a U.S. brokerage account (Updated 2025)

While investing in Malaysia continues to hold strong appeal for locals, companies listed on the Malaysian stock exchange often face challenges due to limited global footprint and reach. This is largely a result of the country’s relatively small domestic economy and population size, which restrict the market scope for these companies, confining them to a smaller operational landscape.

To illustrate this point, let’s examine Maybank, Malaysia’s largest bank and largest company by market capitalisation. Maybank derives about 90% of its net operating income exclusively from its operations within Malaysia while securing an impressive 52.9% mobile banking market share. Which prompts a relevant question: To what extent can Maybank continue to grow beyond Malaysia’s borders?

In contrast, companies in the United States enjoy access to a vast, unified market encompassing over 300 million consumers who share the same language, customs, and currency. It’s no wonder that American corporations rank among the world’s largest and most successful. Additionally, the U.S. is a hub for innovation, housing some of the most inventive companies globally.

This blend of creativity and a sizable domestic market for testing new concepts suggests that we will see the rise of fast-growing American companies capable of disrupting new industries in the years ahead. The significant market size has fuelled the remarkable growth of U.S. businesses, enabling them to expand beyond national borders and reach new heights. This unique advantage makes them especially appealing to investors worldwide.

However, cost and limitations in terms of brokerage services have constrained Malaysian investors from accessing the expansive growth opportunities presented by U.S. companies in the past. In recent years, however, the investment landscape is undergoing a transformative phase. The emergence of competitive brokerage platforms has significantly reduced the challenges that once made trading U.S. shares difficult and expensive. These platforms have made investing more accessible, allowing investors in Malaysia to participate in the growth opportunities within the U.S. market.

How to buy U.S. shares in Malaysia

For Malaysian residents investing in the U.S. market, it’s crucial to know a key point: although you’re exempt from capital gains taxes on your investments, you are subject to a 30% withholding tax on dividends. (Further, estate taxes apply to U.S. stocks and assets upon one’s passing.) Given these considerations, the rationale behind investing in U.S. stocks often revolves around growth and capital appreciation.

If you’ve never bought a U.S. stock before and you’ve always wondered how you can do so, it’s relatively straightforward. In this article, I will outline some of the available brokerage choices for Malaysia residents and provide an evaluation of the advantages and drawbacks associated with some of the more popular choices.

Fees are for U.S.-listed stocks. Updated 7 March 2025. *New users enjoy commission-free trading for the first 180 days.

Malacca Securities/M+ Global

M+ Global is one of the latest brokers to introduce trading of U.S. and Hong Kong stocks in Malaysia. Supported by Malacca Securities, with over 60 years of experience in operating within Malaysia’s capital market, M+ Global positions itself as a broker for Malaysians by Malaysians. M+ Global offers a minimal brokerage fee starting at US$3 and provides distinctive features customised for Malaysian consumers. Notably, they offer a one-click stock screener for Shariah-compliant stocks, which is particularly valuable for the Muslim community.

Moomoo

Officially launched in Malaysia in February 2024, Moomoo holds a Capital Market Services License and is a participating member of Bursa Malaysia. Moomoo itself is a company owned by Hong Kong-based Futu Holdings, which is listed on Nasdaq and backed by Tencent, one of China’s largest companies.

Moomoo offers a competitive trading fee of just US$0.99 for U.S. stocks. In addition, Moomoo also provides cost-effective access to the Singapore and Hong Kong stock markets, requiring only S$5.00 and HK$15 minimum per trade, respectively. If your primary markets include the U.S., Singapore, Hong Kong, and China A-shares, and you’re on the lookout for some of the most competitive fees available, Moomoo stands out as an ideal choice, especially upon its official launch in Malaysia.

Rakuten Trade

Rakuten Trade is a pioneering online broker in Malaysia, offering access to trading in both the U.S. and Hong Kong markets. It allows users to trade U.S. stocks with fees as low as $1.88 USD, with the flexibility to purchase stocks in either MYR or USD.

On the flip side, there are a few drawbacks to consider. The availability of stocks is somewhat restricted; not all U.S. stocks are tradable on Rakuten Trade. Additionally, the platform lacks margin trading and may not boast the most user-friendly user experience (UX) and user interface (UI).

Interactive Brokers

Interactive Brokers is a highly reputable online broker utilised by many institutional investors, and it boasts one of the lowest minimum fees, starting at just US$0.35. One of the notable advantages of opting for Interactive Brokers is its worldwide market accessibility, spanning the U.S., Europe, and Asia. This feature is particularly advantageous if you have intentions of investing globally.

Nevertheless, it’s important to take note that Interactive Brokers does not possess a Capital Markets Services license and has not secured approval from the Securities Commission Malaysia to operate in Malaysia. Interactive Brokers is licensed by the Monetary Authority of Singapore.

The fifth perspective

The strength and innovation of the American economy over the past century have made the U.S. stock market a hub for many leading global companies. While it may take Asia some time to catch up, the U.S. is expected to remain a top equities market, continuing to attract investors from around the world. If you’re considering investing in the U.S., the four brokerages we’ve highlighted offer solid options, each suited to different preferences and needs.