i use moomoo for bursa as the lower commision is good for my smaller ticket size (around 1-2k per order), i use IBKR for ireland domiciled ETF like cspx and also some qqqm thrown in, i stockpick on bursa while my wife DCA into US ETF
i forgot abt the bursa first 6 months free commision fee, after that if order below 6k use moomoo, 7-9.99k use affin, then any amount above 10k use back moomoo
1. What if we take into account of both the conversion fees and trading fees between both platforms (MooMoo after first free 6 months of commission fee), which is relatively cheaper? 2. Since MooMoo is regulated by SC Malaysia, do we have not to worry about the income tax submission, and vice versa for IBKR, I remember you said from your previous video that for withdrawal amount more than 15k will be audited right? Which platform is consider more hassle free in terms of this.
Hi Johnson, 1. I briefly covered in 14:02, but the conclusion should be the same - IBKR will be cheaper by a stretch if your trade size is larger (as moomoo MY has Malaysian stamp duty); otherwise, they are pretty marginal if you trade in smaller sizes like sub RM 5k/trade 2. For local taxation, as far as im aware of, foreign investments income are exempt from tax until end of Dec 2026, and capital gains from foreign investments are not taxable (or at least there's no clear guideline on that), but regardless, moomoo or IBKR, either broker will be able to generate your account statement for your tax submission purpose, if you want to declare them. Withdrawal - the guideline I mentioned earlier was due to cross-border transfers, as it involves unlicensed broker (in the eyes of BNM, its a foreign company) hence the higher possibility of audit - but keeping a clear trail of your brokerage statement should be a good preparation for that.
moomoo have higher cost when convert back usd to myr. It mislead ppl to think tat it got lower conversion cost. This is the only platform I saw got so huge different spread cost between conversion.
Thank you so much for the feedback, I'll pay more attention on the USD -> MYR conversion next time round! (If anyone has any feedback please feel free to share it back ❤️)
I dont think that's a good approach haha dont know la, for me, its more practical to use single platform for consistency & easier management. Plus, imo, Moomoo offers a better overall user experience and features.
HI yong, at the moment its a bit hard for me to answer this because both don't offer inheritance setup by default (at least for Malaysians), do give them some more time, im sure moomoo might have some features on that in the future!
Hi Ziet, for me i just used both coz both recommend by you. I am using IBKR to trade US stock which is very good. I just registered Moomoo for its lowest price and awesome UI to trade Malaysia stock. Anyway, thanks for your sharing I learned alot from you since I just started to invest. TQVM
Hello, for options trading - Interactive Brokers definitely can do the job for you! Check them out here: www.interactivebrokers.com/mkt/?src=zietPY2&url=%2Fen%2Fwhyib%2Foverview.php%3Fnored%3Dt
Hi Ziet, thanks for your sharing. If existing using IBKR to trade US Stock, can you share with us how to trade muti-market like HK, China with the same existing account that trade US Stock? Or we need to create additional account of IBKR to trade HK & China Stock? Thanks :)
i am very new to IBKR, can i ask do they charge a higher fee for market orders when comparing to limit orders? because the fee im getting from the recurring investments (which is market orders) are 1%, meanwhile my limit order is 0.7%. also would like to hear some suggestions on how much or how often should i invest in VOO, i.e. small amount daily or a lump sum monthly/biweekly?
Hi Jia Jun, on the fees, nope - they are market makers themselves so you will get the best available price even if its market order (but mindful recurring investments usually could be done at open hours which the share price moves very fast, so it might not be that simple to track the difference). For your frequency of investment - I personally prefer DCA once a month to minimize the fee impact, hope this helps!
Hi Ziet, I sign up to Rakuten back then after watching your Rakuten videos. Wonder what's your opinion now between Moomoo vs Rakuten? Should I just stay in Rakuten or move over to Moomoo?
Hi bren, both can get the job done for the most part, but moomoo offers a much cheaper package and better platform UI/UX - so my vote is for moomoo (until Rakuten improves their offering)!
@ZietInvests thanks for replying bro. I have another stupid question but will still ask it just to be sure, is it ok to have an account with 2 brokerage firms, Moomoo & Rakuten where I will trade US stocks? Will I be breaking any laws here in Malaysia?
You're most welcome! We do have lots of tutorial video on IBKR, so please do check it out, im sure it will help you get started! Here's our IBKR playlist: ru-vid.com/group/PLNtoL6rfNKdmoHyOx4ft2q9L3ue1HjE8n
Hmmm I actually came back from Japan after 15 years and I was using the SBI platform over at Japan. Also I heard the Rakuten Trade in Malaysia is quite bad .. but since I have some understanding in the Japanese stock market I was wondering if moomoo could trade Japanese stocks? Since I can’t use SBI in Malaysia without a Japanese address and phone number anymore I am in between a US and China platform when we experiencing things like BRICS and such …
Moomoo currently doesn't support Japanese stocks directly, but you can access Japan's stock market through brokers like Interactive Brokers (IBKR), which allows global trading, including Japan. You won’t need a Japanese address with IBKR, making it easier for someone in Malaysia!
Ziet, what app would you recommend for value investing for international stocks? Mostly buying and holding for long term. Between IBKR, MooMoo and FSMone?
My answer is already at the verdict section of this video haha! My main investing app is still Interactive Brokers, and I think it suits for all intents & purposes
thanks so much , but nothing free inside exchange world , moomoo is better software and modern but high fees but ibk is old software and stupid but with low fees
Hi Ziet, for your table at 14:39 under the Moomoo first 6 months column, how did you derive the calculations? The numbers seems to be much lower than what one would actually pay for platform fees + stamp duty. Let's assume conversion rate of 4.7, If I buy USD 1000 > Stamp Duty will be USD 1000 * 4.7 / RM 1000 / 4.7 = USD 1++ (I didn't include the spread but won't be too big of a diff) If I add this USD 1 to the USD 0.99 platform Fee, then it's USD 1.99 (Your table shows USD 1.20) It will make a huge difference if I invest more, let's say If I buy USD 10000 > Stamp Duty will be USD 10000 * 4.7 / RM 1000 / 4.7 = USD 10++ If I add this USD 10 to the USD 0.99 platform Fee, then it's USD 10.99 (Your table shows USD 3.12) Please correct me if I'm wrong.
Hi there, for that, I'd think on: Moomoo = roughly 1.00 usd IBKR = roughly 0.35 usd Since the trade value is very small, the miscellaneous fees would be very small too. but do be mindful of the % fees paid being too high if your trade value is USD 20
Thanks. I think IBKR has min $1 as fractional shares fall under fixed tier? I do not have an account with Moomoo so I'm not sure as I heard they have a platform fee but not IBKR 😢. I guess anything less than 1% commission&fees is accepted😊 so might have to increase DCA value to $50 to $100 per stock per week as Webull has $0.55 for fractional share 😅.
Hi there, while I understand thats a fair comparison (since Moomoo SG has a ton more features than MY), unfortunately Malaysians can no longer open Moomoo SG so that might defeat the purpose of this video (for Malaysians at least). Hope this explains!
Thanks Ziet, very insightful sharing. If u wish to explore more investment products especially those restricted by Malaysia gov, IB is better choice. However, I opened moomoo as I only invest in stocks. Furthermore, if I passed away, it is much easier for my beneficiaries to claim the monies as it is treated as local assets and moomoo has branch in Malaysia.
Hi Ziet, like your videos always can get useful info from your video. May I know is there other brokers that can trade US market options in Malaysia except IBKR? cos recently i got flagged as Pattern Day Trading (PDT) in IBKR, so i try to find other brokers to trade.
Hi Ziet. Can you update latest comparison between ibkr vs moomoo? I have just opened moomoo acc today but not yet put money in and also I am too comfortable using ibkr.
I have an IBKR account in US for years because I am a US resident and obviously i get tax statement there to pay the taxes. I am also a Malaysian citizen, how are taxes handled here in Malaysia if you have an account with IBKR that you open here in Malaysia.
Forex trading is unregulated in malaysia and poses too much risk, plus its not something i trade, so i wont be comfortable exposing my viewers to such risk 😅
Not necessary at all! They do give free level 1 data i.e real time share price; for all investing purposes, those data are good enough (can also use yahoo finance to double check!)
@@sofeaameena4829paper trading is using digital money and the app tools to do “mock” trading so that u can determine ur trading objectives and strategies.
solid work bro. because of you i’m investing in etf divided to voo 50%, qqqm 30% & schd 20%. 1000$ monthly with ibkr. please make a video on how to deal with tax related procedures for long term investing. thank you once again 🙏🏼💯
hi there Ziet. I am new to this. I am confused with that chart showing 10000 USD. in the last row, it shows after 6 months, Moo Moo fee is at USD 6.12. Am I understanding that, if I buy 10000 USD worth of stocks, and then sell it, i will incur USD 6.12 x 2. Both for buying and selling? Thanks.
I am malaysian, and i want to start day trading (3-4 trades per day trading US market), is IBKR is the best trading app in Malaysia at the moment? (Considering factor like low commision fee etc.)
Incorrect, stamp duty is charged on top of the brokerage + other fees, hence the min.3 USD fee charged by M+Global is exclusive of stamp duty. mplusonline.com/support/detail/1000752?id=1000685
HI ziet, can i know taking into account all the conversion and broker fees, is moomoo/IBKR still a better option to buy S&P ETF compared to Versa Global-i ETF?
Hi tiffany and beast, they are rather different actually, Versa is easier to use but incur higher management fee, while IBKR is slightly harder to setup but incur the lowest fee; technically IBKR would be a better long-term choice considering the long-term impacts on your overall return. Hope this helps!
I'd say it's akin to unit trust, personally am not a fan of high-fees investing but I do see some use case for some people that could care less about their investments tho
I believe Moomoo MY only cater for Malaysians, but you can always try applying and it might redirect you to Moomoo SG or US, try with this link: j.moomoo.com/00JRcf Usually for brokers like IBKR, they are geo-tagged, meaning you would be assigned to the entity based on your residency. So give moomoo a try, if it doesnt work, then high chance IBKR might work for you: www.interactivebrokers.com/mkt/?src=zietPY2&url=%2Fen%2Fwhyib%2Foverview.php%3Fnored%3Dt Hope this helps!
how is it better ? i thought it was the same, whats important is that its licensing by the Securities Commission of Malaysia and backed by a Nasdaq-listed parent group which providing reliability and strength in the financial market 👍👍
