Most Malaysians dream of owning Apple or Tesla shares. Luckily, It's a lot easier than sneaking durian onboard a plane; you just have to jump through a few more hoops.
First, you'll need a stockbroker who can trade in US markets. Tradu
Local banks do it, though the UI might take you back to the 2000s. You can also choose a global platform. Check out brokers such as TD Ameritrade, Interactive Brokers, or moomoo. A lot of online brokers are happy to help Malaysians, but they want to see their IC or passport and a selfie just to be safe.
Take your time. Check fees like your uncle inspects teh tarik foam. Watch for trading fees, conversion fees, and withdrawal charges. Costs that aren't obvious can turn your Apple profits into apple cores.
Now, fund your account. Most of the time, you send your ringgit to a bank account in another country, and then it is changed into US dollars. Wise often gives better conversion rates than local banks. Check the exchange rate every time. Tiny rate differences add up over time. This isn’t a 7-Eleven snack run.
Ever tried fractional shares? Even if you don't have a lot of money, certain platforms let you own a piece of Google. Put up RM100, and you're a little shareholder. A great way to test out companies before you go all in.
Let’s talk taxes. Capital gains tax? Malaysians are exempt. But the US takes 30% upfront. It hurts, but it’s part of the deal.
T+2 just means ownership finalizes two days after purchase. Shares may appear later—nothing lost. No, your shares aren’t lost in the void.
Be careful with time zones. Night in Malaysia means New York market is open. Want live action? Stay awake. Set orders in advance and let fate take over.
Safety first. Use only regulated platforms. Check user feedback. Ask friends for advice. There are a lot of scams out there, and that "guru" on TikTok might just want your money. Don’t trust flashy promises blindly.
Simply put, Open an account with a foreign brokerage, move your money, choose your stock, and don't let the ups and downs of Wall Street scare you. It may seem tricky, but it’s easier than first-time KL parallel parking. Have fun picking your stocks!