Personal recommendation on platform to invest in U.S stocks/options&more

[saul258]

Hi guys, I have been on this subreddit for the past 1 year, and back then could not get any information that I wanted in regards to "Which platforms could trade u.s. stocks/options&more from Malaysia". I went off reddit for a while and found a few brokers online through almost pure luck. Given that I see a few mention of Interactive Brokers on this sub now, I have not yet seen anyone personally using it.

I am personally using Interactive Brokers now as my trading platform and would recommend it for my Malaysian friends who are intending on gaining exposure to the U.S. markets. They have a low commission fee(1$/trade for stocks), and relatively low inactivity fee(3$/month for U25|20$/month for adults with 2000$ account value).

I have linked the site from where I got the rates, and please do read them over if you are interested. Also, if there are any questions regarding the platform or fees and such, please do ask me, I will answer them to the best of my knowledge. I hope this post helps you, as it would me if it was a year ago.

P.S. There could be cheaper options compared to IB out there, but I am recommending them only because I use them, and have so far had a positive experience.

https://www.interactivebrokers.com/en/index.php?f=4969

 

[kevint]

@saul258 How did u wired your money over?

The cost from using maybank to transfer to IB cost me rm100+ any workaround way for this?

 

[saul258]

@kevint Hey, I actually lucked out with this, I have mine set up in Australia, and I transfer AUD into it. But I found a few ways online, SG CIMB account seems to be most preferred as it does not charge any fees; https://inquirerdesilentio.wordpress.com/2017/08/01/funding-your-interactive-brokers-account/ ; https://forum.lowyat.net/topic/4843925/all .

 

[pinkyrose]

@kevint Im newbie on this too. Have made two transfers from my maybank to IB similar to you.

The first transaction was ok no fees. Second one i made kena usd 25 which I wasnt happy with. Looking for another way to transfer money in atm.

 

[kevint]

@pinkyrose The trick from lowyat forum was getting a CIMB Fastsavers account

And get your SG CIMB acc to IB since IB accepts SGD.

 

[pinkyrose]

@kevint Thats good. I read u need to deposit min 1k sgd to open which is fine. I ll go and see cimb banker soon. Any way i can do this via Maybank if you know?

I really dont want to have too many bank accounts.

 

[kevint]

@pinkyrose Maybank SG has the same option but way more hectic. I believe CIMB Fastsaver is the fastest. I got mine through online during MCO. Don't need to pay visit.

 

[setst777]

@kevint How to open SGCIMB online?

 

[rarelozo]

@saul258 Firstrade offers commission free trades, good app for long term investors.