One App To Trade Malaysia Stocks
Tell me about Moomoo Malaysia.
Moomoo is a prominent online trading and investment platform that empowers global investors and traders alike with professional-grade, easy-to-use tools, data and market insights, all in one super app.
Founded in 2018 in Palo Alto, California, moomoo has spread its success across Singapore, Australia, Japan, and recently Malaysia and Canada. Backed up by the commitment to provide a simplified and accessible investment experience for all investors, moomoo has reached several milestones within a few short years and they are now known as the number one (1) downloaded trading app in Singapore*.
With moomoo, you’ll experience investing in the Malaysia stock markets, exchange-traded funds (ETFs), Real Estate Investment Trusts (REITs), as well as warrants. Recognised as a participating organisation of Bursa Malaysia Berhad, moomoo provides its users with the necessary technology and resources to make informed investment decisions.
Note:
*Data is determined based on cumulative downloads from the launch date of brokerage trading apps in Singapore for comparison until 11 October 2023 on data.ai.
*Zero Commission for 180 days only. T&Cs and other fees apply. Minimum charges refer to the platform fees for US stocks. Full disclaimers can be found here.
Why should I invest in the Malaysia stock market?
For starters, Malaysia is known for its strategic geopolitical location and being close to neighbouring emerging markets like Singapore, Indonesia, Thailand and the Philippines, making it one of the important trading and investment hubs within Southeast Asia.
Regarded as a country with great diversity, the stock market in Malaysia holds significance for other several reasons, no matter if you are an experienced investor or just looking to increase your portfolio diversification.
Specifically for beginners, below are some market highlights for your consideration:
| Market Size and Liquidity |
Bursa Malaysia represents Malaysia's stock market and as of available data on the Net, there are over 900 listed companies across various sectors and 3 market segments that cater to the sizes of the companies, including development stages i.e. the Main Market, ACE Market and the LEAP Market. With these variations, they collectively contribute to significant trading volume which leads to higher liquidity. |
| Regulatory Environment | Bursa Malaysia is overseen by the Securities Commission Malaysia (SC), which maintains compliance with securities legislation and oversees the country's capital markets. |
| Market Structure | Bursa Malaysia is the primary stock exchange in Malaysia, facilitating the trading of equities, derivatives, and other financial instruments. |
| Economic Factors | An emerging market with a developing economy propelled by industries like manufacturing, technology, finance, and commodities (like rubber and palm oil). The success of the Malaysian stock market is influenced by economic factors, including inflation, GDP growth, and governmental policy. |
| Investment Opportunities | Provides opportunities for investors interested in emerging markets, with exposure to sectors such as banking, telecommunications, palm oil, and infrastructure development. |
| Currency and Exchange Rate | Denominated in Malaysian Ringgit (MYR), and investments in Malaysian stocks involve exposure to MYR exchange rate fluctuations. |
How can I start investing?
Investing is now made accessible through online trading platforms. As compared to the traditional way, it is convenient and cheaper.
With moomoo, you can invest in Malaysian stock markets through their mobile app or website. With no minimum deposit to open an account, simply sign up and set up your moomoo account anytime, anywhere.
Are there any fees that I should be aware of?
Yes, there are. You can find the fees below and if you require more details, do not hesitate to contact moomoo’s representative. For Malaysian Stocks, ETFs, REITs and Warrants:
- Commission Fee: As low as 0%*
- Platform Fee: RM3 per order
- CDS Account Opening Fee: Free
- Clearing Fee: 0.03% of the transaction amount, with maximum RM1,000 per order
- Stamp Duty for Shares: RM1 for every RM1,000 (or fractional part) of the transaction amount, with maximum RM1,000 per order
- Stamp Duty for Warrants/REITs: RM1 for every RM1,000 (or fractional part) of the transaction amount, with maximum RM200 per order
Am I eligible to open an account with Moomoo Malaysia? Tell me the steps.
As long as you are a legal resident of Malaysia holding a valid local address and are 18 years old at the minimum, you are eligible to open a moomoo account. Please prepare the following documents before downloading the app. Click here if you're keen!
For Malaysians:
- Your valid IC
- Your personal details such as tax, employment, financial status
- A valid proof of local address (bank statement, telephone bills, etc. must be issued in the last 3 months which includes your full name, name of the document issuer and your residential address)
For other nationalities:
- Your valid passport
- Your personal details such as tax, employment, financial status
- A valid proof of local address (this would be needed if your residential address does not match the address stated on your ID card)
Here are the steps to open an account with moomoo:
- Download and install the moomoo app
- Click ‘Open Account’
- Follow the instructions and fill in the necessary details
- Verify your identity
- And submit your application!
Note that once all the information has been entered and verified, your account will be approved within 1 to 3 business days. You may check for progress via email and app notifications. If additional documents are required, you will receive an update via email and app notifications as well.
Should you have any questions regarding the account or anything else, you can reach moomoo’s team through Live Chat on their website, call their Customer Service Hotline at 03 9212 0708 or email them via [email protected].
RinggitPlus X Moomoo Malaysia Sign-up Promotion
From 22 April 2024 until 28 February 2025 (“Promotion Period”), qualified customers can stand a chance to take home an Apple iPhone 15 Pro, subject to the campaign’s terms and conditions.
Referring to the T&C, you must be a new Moomoo MY customer of at least 18 years old with a valid Malaysia IC/MyKad and make a minimum deposit of RM200 to a Moomoo Malaysia universal account during the Promotion Period to qualify.
Those who are not eligible for this sign-up promotion include:
- Applicants with an existing Moomoo MY universal account
- Permanent, contract, part-time, or temporary employees of Moomoo MY and Jirnexu Sdn. Bhd. (including its subsidiaries and related companies) and their respective immediate family members
- Employees of agencies, partners, and consultants with ongoing engagements with Moomoo MY and Jirnexu Sdn. Bhd. during the Promotion Period
- Any person who has committed and/or committed fraud and/or abuse of the system, and/or any other scenario deemed as fraud or abuse of the system by Moomoo MY and/or Jirnexu Sdn. Bhd. at any point of time during or after the Promotion Period
Capped at nine (9) units, the iPhone 15 Pro premium sign-up gift is for qualified applicants (chosen by Moomoo Malaysia) who deposit a minimum amount of RM500 into the Moomoo MY universal account during the Promotion Period.
If you don’t win, you will still get a guaranteed RM200 Touch 'n Go E-Wallet Credit (by invitation only) or a guaranteed RM50 Touch ‘n Go E-Wallet Credit. However, this is capped to the first 1,000 qualified applicants who do not fulfil the premium gift above.
For more details, check out the T&C and if you need assistance, you can email us at [email protected].
Disclaimer: Trading and/or investment involve substantial risks, and the decision to engage in such activities is solely at your discretion and is not affiliated with or attributable to RinggitPlus.
