Best Share Trading Malaysia Platforms to Use in 2024

If you’re wondering how to buy shares in Malaysia, you’re in the right place. As a Malaysian trader looking for the best platforms to open a share trading account, having reliable and advanced platforms in 2023 is crucial. These platforms provide the tools needed for market research, trades, and portfolio management.

Knowing how to buy shares in Malaysia and choosing the top trading platforms gives you access to real-time data, charting tools, and risk management features. Technology has expanded participation in the stock market, and Malaysia’s dynamic trading scene boosts its appeal. The country offers several reliable platforms catering to diverse financial patrons. This article will highlight the premier Malaysian share trading platforms in 2023, discussing their features, costs, pros, and cons.

How do you buy shares in Malaysia?

Understanding Share Trading Platforms

Before digging into particular platforms, it is important to understand the best offer-exchanging platforms in Malaysia (Offer-exchange platforms in Malaysia) and how they function. These platforms are essential for those wondering how to buy shares in Malaysia. They allow investors to buy and sell stocks, ETFs, and other financial products. Through these online share trading platforms in Malaysia, users have real-time access to market data, research tools, and various trade-related services. By selecting Malaysia’s best share trading platform, you can expect enhanced returns on your investments and an improved trading experience.

Importance of Choosing the Right Share Trading Platform

Understanding how to buy shares in Malaysia starts with choosing the appropriate online trading platform. Before settling on a trading platform, consider your long-term goals, comfort with risk, and preferred trading technique. Before settling on a certain Malaysian online share trading platform, compare and contrast its brokerage fees, trading account choices, usability, customer service, research and analysis tools, and security measures with its competitors. Keeping these things in mind might help you settle on a trading platform that works for you and enhances the way you trade.

The Best Share Trading Platforms in Malaysia

1. Rakuten Trade: Malaysia’s FIRST fully digital trading broker.
2. MPlus Online: Comprehensive online trading with educational resources and a focus on innovation.
3. AMEnquities: Personalized investment strategies and advanced trading tools.
4. HL e-Broking (Hong Leong Bank Trading: Seamless online trading and banking services integration.
5. Affin Hwang Investment Bank Trading Account (eInvest Go): Personalized investment recommendations based on risk profiles, leveraging advanced algorithms and expert insights.
6. RHB Trading Account: Diverse investment options and personalised support.
7. Alliance Bank Trading Account: Customer-centric trading platform with a wide range of products.
8. Public Bank Trading Account: Established platform with comprehensive investment solutions.
9. Maybank: Leading bank with user-friendly trading, extensive research tools, and a diverse range of investment products.

Rakuten Trade

A Malaysian online trading platform called Rakuten Trade gives users access to Bursa Malaysia to trade stocks, ETFs, and REITs. Rakuten Trade, a joint venture with 89 workers, was founded in 2017. It provides a user-friendly platform accessible from desktop and mobile devices, enabling traders to navigate easily, conduct company searches, use stock screeners, and contact customer service.

Rakuten Trade’s low brokerage costs make it an economical choice for traders, which is one of its main advantages. Three different account kinds are available: Cash Upfront, Dual, and Combo. The platform makes financial transfers, account opening, and safe and secure equity trading possible.

Because Rakuten Trade is governed and has a restricted Capital Markets Services Licence, its users’ data is protected and secure, the website offers educational materials for investors of all levels and has a referral programme called RakuFriends. It has won honours and recognition, including the 2019 Loyalty and Engagement Awards and the 2018 Malaysia FinTech Award.

Trading Account Options and Fees

To meet the demands of Malaysian traders, Rakuten Trade provides a variety of trading account alternatives. Low brokerage fees are offered in exchange for access to the stock markets in Malaysia, the US, and Hong Kong. The first trade for new members within 30 days of activation is free of brokerage fees, making it a desirable choice for those just beginning their trading careers.

Rakuten Trade has a tiered charge structure for fees depending on the trading value. The costs for trading on Bursa Malaysia are as follows:

• Below RM699.99: 1% of Trading Value (Min RM1)
• Between RM700.00 and RM9,999.99: RM9.00
• Between RM10,000.00 and RM99,999.99: 0.1% of Trading Value
• Equal to or above RM100,000.00: RM100.00

The brokerage charge for trading in Hong Kong is 0.1% of the trading value (minimum HKD35). Additional costs should be considered, including clearing fees, regulatory fees, stamp duty, SST, currency exchange rates, handling fees for corporate actions, account opening fees, and more.

✅ Pros

• Transparent, competitive pricing with one of the lowest fees charged in Malaysia.
• Advanced trading technology with robust trading platforms and tools.
• Educational resources available help traders make informed decisions.
• It provides a wide variety of investment options allowing trades to diversify.
• Offers users access to the US and Hong Kong stock markets at an affordable rate.

❌ Cons

• Limited customer support – Heavily delayed response time, especially during busy trading.
• Limited order types – Limitations in executing advanced trading strategies depend on experienced traders.
• Limited foreign coverage – Primary focus on US and Hong Kong stock markets.
• Platform stability – Possibility of disrupting trading activities due to system outages or technical issues.
• The steep learning curve for beginners – Requires effort to familiarise themselves with its features and functions.

Mplus Online

Mplus Online provides a seamless trading experience for Malaysian merchants as a registered participant organisation. All devices may access their platform, giving users convenience and flexibility. Traders have all the tools, reports, and charts required for trading requirements. The platform provides traders peace of mind by ensuring the safety and security of funds, deals, and portfolios. Knowledgeable dealer representatives offer professional assistance, ensuring traders get their required support.

Trading Account Options and Fees

Traders at Mplus Online may choose from various account types that can be customised to their specific needs and require as little as RM8 (or 0.1% of the deal amount) in brokerage fees. Margin accounts for trading and checking are offered for people who choose a more versatile and adaptable approach to managing their finances.

Those with access to margin accounts have a significant competitive edge in the financial markets, while broker-aided borrowing provides them more financial flexibility. Mplus Online’s uniqueness lies in its comprehensive trading methods, with every transaction incurring the same cost. Transactions are easily made via direct account, with IPO being available and dividends being paid out on the exact payment date.

✅ Pros

• A direct account with IPO – IPO applicable and exact-date dividend payment date.
• Competitive rates and fees – Comparable to one of the lowest rates on the market.
• Beginner-friendly interface – Account Management is seamless, simple, convenient and efficient.
• Provides real-time market data allowing traders to stay up-to-date.
• Available on the Bursa Anywhere application.

❌ Cons

• Market Liquidity – Trading in smaller companies or less liquid stocks may impact market rates.
• Transactions are cheaper with larger trades – Over RM1,000 to RM10,000.
• The dividend is credited directly into your bank account instead of your trust account – Depending on the type of trader, this could be an issue.
• Limited international market access to access certain global markets or securities.
• Requires heavy internet connectivity, and not having strong connectivity may impact trading.

AmEquities

AmEquities is an online trading platform provided by AmInvestment Bank Berhad that offers traders in Malaysia a complete investing experience. Through the web desktop platform of AmEquities, traders may access domestic and international market trades, enabling them to follow real-time changes and receive push notifications for matched orders and alerts. A single trading account, consolidated statements, settlement options, research reports, and a stock portfolio display are just a few of the features available on the site.

Trading Account Options and Fees

AmEquities gives traders access to stocks listed on the Bursa Malaysia through a single trading account. The platform has different order kinds and services available, including GTD Orders and various account management tools, and it charges its standard rates for transactions. The FIS Online Trading function allows traders to transact on international exchanges like the SGX in Singapore and the NYSE and NASDAQ in the United States.

✅ Pros

• Comprehensive investment experience with customised layouts and multidimensional views.
• Real-time stock quotes, charts, order placements, and news are available on the web platform and the mobile app.
• access to domestic and international market trading.
• The portal makes research papers, basic information, and statements available.
• Available are many order kinds and account management options.

❌Cons

• No personal relationship with brokers – Online traders is left to their own devices when it comes to learning how to develop an investing plan and comprehending how the outcomes of feedback mechanisms affect the market. This level of liberty may be disconcerting to some people.
• Internet-dependent – You are ultimately at the mercy of your internet connection because of the nature of online trading. You risk missing out on a potentially significant or profitable trade if the internet connection is too slow or disrupted.

HL e-Broking ( Hong Leong Bank Trading)

HL e-Broking, a.k.a Hong Leong Bank Trading, was established in 2005 and introduced to customers as a convenient way to access stock trading and other integrated financial instruments. After its launch, it started gaining traction as more traders recognised its benefits. HL e-Broking is Malaysia’s premier online stock trading platform, with cash accounts, collateralised accounts, and Islamic books being some of the various alternatives to conventional ledgers used in international trade.

Trading Account Options and Fees

HL e-Broking offers the convenience of trade at the tips of your fingertips via online transactions and monitoring. The brokerage costs for HL e-Broking start at only 0.1% or RM 8, with a waiver of RM 10.60 per counter being offered. Traders from other platforms may also move with ease as there are no costs incurred for moving.

Traders of all stripes will appreciate HL e-Broking flexible account options. This covers many documents, including those pertaining to Money Trade, Edge Trading, and Islamic Trading, among others. It has a vast range of accounts available to investors, each with its own benefits and limitations. Foreign trades of up to 6 countries and multi-currency trading settlements are also covered with HLIB and the high interest on credit balances in the HLIB trust account.

✅ Pros

• Advanced tools for charting and technical analysis for traders to make informed decisions.
• Foreign and multi-currency trade settlement with 6 selected countries.
• High interest on credit balances in HLIB Trust Accounts.
• Immediate trade confirmation option via email.
• Zero moving costs and low brokerage fees.

❌Cons

• Frequent trading associated with HL strategies can lead to higher transaction costs depending on trade volume.
• Higher risk due to its potential exposure to market volatility from its short-term nature.
• Limited depth of market data, which may be disadvantageous to traders who rely on them.
• Limited market access at night or on weekends which may restrict trading opportunities.
• The technical analysis focused, resulting in limited fundamental analysis.

Affin Hwang Investment Bank Trading Account (eInvest Go)

Affin Hwang Investment Bank‘s trading account on the eInvest Go platform ranked No.1 in Bursa Malaysia’s Broker Ranking in 2020. Their eInvest online trading is an exclusive internet securities trading system. With their 24-hour online access, trading on eInvest can be accessed anywhere in the world with internet access. Affin Hwang Investment Bank is currently considered the largest in Malaysia by traded value.

Trading Account Options and Fees

Affin Hwang Venture Bank Trading Account (eInvest Go) offers stocks, exchange-traded funds (ETF) and real estate investment trusts (REIT), providing an ample variety of trading accounts, each tailored to a certain investing strategy. All trade shares are companies listed on Bursa Malaysia. Many other records are available to financiers, including cash, influence, and Islamic records.

With over 900 stocks listed on Bursa Malaysia, a fee of RM10 will be incurred for opening a CDS account as a levy by Bursa Malaysia Depository Sdn. Bhd. eInvest Go brokerage fees range from as low as 0.05% or a minimum of RM5 per trade for both CDS and trade accounts, respectively.

✅ Pros

• Beginner-friendly and seamlessly integrated online trading and banking services.
• Diversity in investment portfolios for added market opportunities (Stocks, ETFs, REITs).
• Live updates on rates and trading functions with a premium stock screener.
• Provides resources to valuable reports and analysis to add value to a trader’s investment analysis.
• Regulated by the Securities Commission Malaysia, providing added investor security.

❌Cons

• Lack of interactive features for collaborative trading experiences and insight sharing.
• Lacking advanced trading features and capabilities for increased comprehension.
• Limited international market access in comparison to some other platforms.
• Resources may lack personalisation, and traders are responsible for their research and investment decisions.
• Some traders have reported incompetency with their customer service response time, support and proficiency in problem-solving.

RHB Trading Account

RHB Trading is an investment account under RHB Bank, one of the largest banks in Malaysia. The trading platform allows customers to trade various financial instruments such as stocks, bonds, futures, options, and other securities. The RHB Trading Record’s flexible options and advanced features make it useful for traders of all skill levels.

Trading Account Options and Fees

RHB shares can be found on Bursa Malaysia, SGX, AMEX, NYSE and NASDAQ. Trading Account Varieties and Costs Users may use several helpful features by signing up for a RHB Trading Account. For the ease of their customers, they provide both online and offline trading options.

RHB Trading Account also provides loyalty points for each trade with 1 SmartPoint per RM1 brokerage. These points can be used to redeem BIG Points, RHB Rewards, Bursa Malaysia Equities 5 levels market depth data and Touch ‘n’ Go eWallet credit.

✅ Pros

• Educational resources are provided to assist with analytics and knowledge.
• Mobile trading for convenience in monitoring, trading and account management.
• Provides access to local and international exchanges, allowing diversity.
• Reliable customer support services for assistance.
• RHB trading account offers customisable trading preferences and provides greater control over the trading process.

❌Cons

• Inactivity fees will be charged for trading activity which can accumulate over time.
• Limited customer support hours being unable to assist outside designated hours.
• Limited trade types, order sizes, and trading strategies.
• Primarily focuses on Malaysian markets, limited international markets.
• Restricted advanced trading tools and traders who rely on advanced technical analysis or specific strategies may feel limited.

Alliance Bank Trading Account

Alliance Bank Trading offers a comprehensive trading account to anybody looking to access the Malaysian share trading market. Alliance Bank offers a wide range of services at competitive prices, creating a secure setting in which company owners may implement their financial strategies with a minimum brokerage amount of RM 12, the brokerage fees range from 0.15% – 0.29% for amounts less than RM 100,000 and 0.15% for amounts exceeding RM 100,000.

Trading Account Options and Fees

Alliance Bank Trading offers many trading account types to suit the demands of individual investors. The bank caters to a wide range of investors by allowing them to open accounts that comply with conventional or Shariah law.

Alliance Bank Trading offers a range of trading services in Malaysia, including online trading account and collateralised account, which provides a high trading multiplier for various selected collaterals. Alliance Bank Trading also offers foreign share accounts accessible with just one account. Cash upfront accounts are hassle-free and incur a minimal brokerage fee, and Flexi 7 accounts provide ample time to make.

✅ Pros

• Access to IPO to allow traders to participate in new stocks.
• Diverse trading options, Equities, Bonds and Derivatives.
• Online trading platforms provide extreme convenience, allowing trading in any location with internet access.
• Real-time market date for convenient monitoring and analysis.
• Secure and trusted as it is a subsidiary operating under the regulatory.

❌Cons

• It has a minimal investment requirement or account threshold, which may restrict entry for some traders.
• Higher brokerage fees in comparison to other platforms.
• Limited global market access.
• The platform lacks several advanced features, which may hinder experienced traders with complex strategies.
• While diverse, trading options may be more limited than specialised brokerage firms.

Public Bank Trading Account

For Malaysian investors, Public Bank offers a full-featured trading account with access to a range of trading products and services.

Trading Account Options and Fees

The Public Bank Trading Account offers many different accounts from which traders may pick. With their brokerage fees slightly higher at RM12, their added leverage lies in accepting payments as a one-time cash instalment.

Transactions for the cash upfront account are completed when a trader funds the account with the necessary allocated funds in their selected accounts. In a Public Bank Trading Account, brokerage costs are subtracted from the final amount of each transaction and yield higher margin and trading value.

✅ Pros

• Banking services integrated beyond trading, financing and investment advisory services.
• Beginner-friendly layout and interface which easy to navigate.
• Customer service with personalised support and guidance from investment advisors to delegated account managers.
• Diversity in investment choices includes stocks, exchange-traded funds, and subordinated debt.
• Established reputation as a well-established banking group with a strong reputation in Malaysia and Asian countries.

❌Cons

• The absence of sophisticated features like algorithmic trading and user-configurable diagramming tools may dissatisfy professional traders.
• Brokerage fees are not competitive enough in comparison to other platforms.
• Limited international market access.
• Payment method is also very limited shrinking their potential pool of traders.
• With Banking being the main focus, Public Bank’s trading activities may not be their area of expertise and may result in a limited range of services.

Maybank

Maybank, one of Malaysia’s most prestigious financial institutions, offers its customers the best stock trading platform. Many wealthy Malaysians choose Maybank as their bank of choice because of the bank’s impeccable reputation and wide range of services. Let’s look deeper at Maybank, Malaysia’s premier share trading platform‘s features, fees, and trading account options.

Trading Account Options and Fees

Maybank provides institutional investors with two exchange accounts: cash trading accounts and collateralised exchange accounts. Cash Trading Account holders may trade stocks using available cash, whereas Collateralized Exchanging Account holders can use a credit extension backed by collateral.

Maybank has a tiered accounting system that accounts for currency exchange rate changes. For deals under RM100,000, the financier charge is 0.08%; for deals beyond RM100,000, the business cost is 0.05%. Their full online mobile interface makes it convenient to conduct local and foreign trade ( SGX, NYSE, NASDAQ, HKSE ).

✅ Pros

• The diverse range of investment products is one of the larger in-house banks in Malaysia.
• Extensive research tools are provided for traders who wish to gain more insight.
• Online foreign trading access with online mobile trading support anywhere with internet access.
• Traders can feel at ease due to the security and reliability of the network being backed by a major bank.
• User-friendly interface that doesn’t take long to get used to.

❌Cons

• Creating an account requires traders to meet a certain requirement which differs according to account type.
• Extremely reliant on Maybank Services, which may result in trading disruptions if technical issues are encountered.
• Higher brokerage fees and lesser competitive rates.
• The mobile app is limited compared to the web version, which heavily restricts traders as it is more convenient to carry a mobile than access a laptop or computer.
• While Maybank Trading offers some research reports and market news, the quality and depth of the provided research and analysis may not be as comprehensive.

Top Share Trading Platforms for Beginners Compared

Read more: Top 24 Largest Companies in Malaysia (2023 data)

How to buy shares in Malaysia and open a Malaysian brokerage account

There are 6 things to consider when opening a brokerage account in Malaysia.

1. Type of Account

The Brokerage Account and the Central Depository System (CDS) Account are two essential components for navigating the Malaysian stock market. Although the brokerage account serves as a customised online marketplace for buying and selling stocks, it has transaction costs and market risks in addition to providing decision-making tools and professional advice. The CDS Account serves as your ownership certificate and serves as proof of stock ownership, safety, and transparency. With a combination of accessibility and security, these intertwined accounts allow investors to move about the stock market.

2. Market Access

When you’re thinking about trading on Bursa Malaysia and accessing foreign shares, here’s a step-by-step guide. First, make sure you’re following the government’s rules and choose a reliable brokerage, especially if you want to invest in foreign companies. Next, figure out how much risk you’re comfortable with and what your financial goals are before you start trading. Remember that it’s important to be careful and make a plan before you start trading, whether it’s in local or foreign shares.

3. Types of Investments

Investment options encompass various types, each with distinct advantages and disadvantages.

• Stocks present the potential for substantial returns but involve market volatility.
• Bonds offer stability and regular interest payments but generally yield lower returns.
• Mutual funds provide diversification and professional management but come with management fees.
• Commodities act as an inflation hedge but are susceptible to price swings.
• Retirement accounts offer tax advantages but have limited accessibility, while savings accounts ensure safety but deliver minimal growth.
• The choice hinges on individual financial goals, risk tolerance, and time horizon, underlining the importance of portfolio diversification.

4. Stockbrokers

A stockbroker plays a pivotal role in financial markets by connecting investors with opportunities, making them crucial for individuals and institutions alike. They offer professional guidance and expertise, ensuring efficient execution of trades, and providing access to valuable research and market insights. While they offer convenience and expertise, it’s important to consider the potential downsides, such as fees and the need to trust their advice, which underscores the significance of careful selection when choosing a stockbroker.

5. Accessibility

In today’s complex financial environment, having offline and online access is essential for investing. Online access provides comfort, real-time information, and quick trade execution. For those who prefer a more hands-on approach or have technical constraints, offline access through conventional channels like phone or in-person interaction offers a personal touch, expertise, and a sense of security. This dual access promotes inclusivity in the investment landscape by taking into account a variety of investor preferences, ensuring accessibility for everyone.

6. Fees

Brokerage fees are a critical factor to consider when investing as they can significantly impact your overall returns by examining the broker’s fee structure, including commissions, spreads, and any hidden charges. Compare the fees of different brokerage firms and evaluate how they align with your investment strategy and trading frequency and consider factors like the type of assets you plan to trade, the frequency of your trades, and the broker’s reputation for transparency. This way, you can make informed decisions that optimize your investment outcomes and minimize unnecessary costs.

Conclusion

In conclusion, for those exploring into how to buy shares in Malaysia, the selection of a trading platform is of utmost importance. With a myriad of choices available, making informed decisions is essential.

Regulatory oversight from entities like the Securities Commission Malaysia (SC) guarantees investor protection. It’s also crucial to balance brokerage fees with the range of tools and resources the platform provides for effective market analysis.

For beginners, platforms offering demo accounts for risk-free practice are invaluable. The minimum deposit requirement can also influence the decision, especially for those on a tighter budget.

In our increasingly digital world, platforms need to provide a smooth mobile experience and a variety of dependable payment options. Equally important is a platform’s commitment to responsive customer support, ensuring traders get timely help when needed.

By meticulously evaluating these aspects, Malaysian traders can confidently pinpoint the right platform, positioning themselves to maximize opportunities in the financial markets.

Frequent Asked Questions