By Dexter Chia, licensed dealer’s representative (R336), M+ Global / Malacca Securities Sdn. Bhd. · Last updated 28 September 2026. Disclosure: I am a remisier with M+, one of the brokers compared below. Fees are taken from each broker’s official website as at September 2026; always confirm current rates before opening an account. · Baca dalam Bahasa Malaysia
Quick answer
There is no single “best” stock broker in Malaysia. It depends on how you invest. For the lowest fees on small, do-it-yourself trades, app-only brokers such as Rakuten Trade and moomoo are hard to beat. If you want a direct CDS account, access to Bursa, US and Hong Kong stocks in one app, IPO applications and a licensed remisier you can WhatsApp for help, a full-service online broker such as M+ Global (Malacca Securities) is a strong choice.
What to compare when choosing a stock broker
- Brokerage fee and minimum charge. The minimum matters more than the percentage if you trade small amounts.
- Direct CDS or nominee account. With a direct CDS account the shares are registered in your own name. See Direct CDS vs nominee account.
- Markets available. Bursa only, or also US and Hong Kong?
- IPO applications. Can you apply for Bursa IPOs, and is IPO financing available?
- Human support. Is there a remisier who looks after your account, or only a help centre?
- Regulation. Make sure the broker is licensed by the Securities Commission Malaysia and, for Bursa trading, is a Bursa Malaysia participating organisation.
Bursa Malaysia brokerage fees compared (2026)
| Broker | Bursa brokerage | Minimum per trade | Type | Remisier service |
|---|---|---|---|---|
| M+ Global / M+ Online (Malacca Securities) | From 0.05% (intraday) to 0.08% | RM8 | Full-service online broker | Yes: assigned licensed remisier |
| Rakuten Trade | RM1 (below RM100), RM2.88 (RM100 to RM9,999.99), 0.10% (RM10,000 to RM99,999.99), RM100 flat above RM100,000 | RM1 | App-only online broker | No |
| moomoo Malaysia | 0.03% commission + RM3 platform fee per order (commission-free for new users for 180 days) | RM3 platform fee | App-only online broker | No |
| Bank-backed brokers (e.g. Maybank Investment Bank, CGS International, Public Investment Bank, Hong Leong Investment Bank) | Varies by channel (online vs dealer-assisted) | Varies | Full-service investment banks | Yes, usually |
On top of brokerage, every broker passes on the same Bursa charges: a clearing fee of 0.03% (capped at RM1,000 per contract) and stamp duty of RM1 per RM1,000 of contract value (capped at RM1,000 for ordinary shares). Brokerage on ordinary shares is exempt from SST, but SST of 8% applies to some other charges, such as platform fees and clearing fees on ETFs, REITs and warrants.
What a trade actually costs: worked examples
Brokerage only, for a single buy order of ordinary shares, using the rates above. Clearing fee and stamp duty are the same at every broker, so they are left out.
| Trade size | M+ (0.08%, min RM8) | Rakuten Trade | moomoo (after promo) |
|---|---|---|---|
| RM2,000 | RM8.00 | RM2.88 | RM3.60 + SST on platform fee |
| RM10,000 | RM8.00 | RM10.00 | RM6.00 + SST on platform fee |
| RM50,000 | RM40.00 | RM50.00 | RM18.00 + SST on platform fee |
What this tells you: for small trades, app-only brokers are cheaper. Between about RM10,000 and RM125,000 per trade, M+ is cheaper than Rakuten Trade; above roughly RM125,000, Rakuten’s RM100 cap is cheaper. Intraday trades at M+ can be charged from 0.05%. Fees are only part of the picture, though: a single avoided mistake or a well-timed IPO allocation is usually worth far more than a few ringgit of brokerage.
Which broker suits which investor?
Choose an app-only broker (Rakuten Trade, moomoo) if…
- you invest small amounts regularly and want the lowest possible cost per trade,
- you are comfortable doing your own research and solving account problems through a help centre,
- you don’t need someone to call when something goes wrong.
Choose M+ Global with a remisier if…
- you want a direct CDS account and access to Bursa, US and Hong Kong stocks in one app,
- you apply for IPOs, including Hong Kong IPOs, and want access to IPO financing,
- you typically trade between about RM10,000 and RM125,000 per order, where M+’s rate is competitive,
- you want a licensed remisier to answer questions, share research and help with problems.
Choose a bank-backed broker if…
- you already bank there and want everything under one roof,
- you need services such as margin financing packages or wealth management alongside share trading.
About Malacca Securities (M+)
Malacca Securities Sdn. Bhd. is a homegrown Bursa Malaysia participating organisation that began in 1963 as Malacca Traders. It launched the M+ Online digital platform in 2012, added US and Hong Kong markets with M+ Global in 2023, and introduced IPO subscriptions and IPO financing on M+ Global in 2024. The firm has won over 100 industry awards, including Best Retail Equities recognitions at the Bursa Malaysia Excellence Awards.
Why open your M+ account with me
I’m Dexter Chia, a licensed dealer’s representative (R336) at M+ serving 2,200+ clients. When you sign up with my invitation code you get the M+ platform plus a remisier who uses AI tools for screening, alerts and analysis across Bursa, US and HK, and who answers on WhatsApp.
👉 Open an M+ Global account with invitation code UBZQ
💬 WhatsApp me to compare your options
Already with another M+ remisier? See how to change your remisier at M+. New to remisiers? Read Remisier vs Dealer in Malaysia. Ready to start? Follow how to open a Direct CDS account online.
FAQ: choosing a stock broker in Malaysia
Which stock broker has the lowest fees in Malaysia?
For small trades, app-only brokers such as Rakuten Trade and moomoo usually cost the least per trade. For larger trades the gap narrows, and percentage-based brokers such as M+ can be cheaper than some flat-tier schedules. Compare using your typical trade size.
Are clearing fee and stamp duty the same at every broker?
Yes. The clearing fee (0.03%, capped at RM1,000) and stamp duty (RM1 per RM1,000, capped at RM1,000 for ordinary shares) are set by Bursa Malaysia and the government, so they are the same at every broker.
Is my money safe with an online broker?
Choose a broker licensed by the Securities Commission Malaysia. For Bursa shares, a direct CDS account registers the shares in your own name with Bursa Depository.
Can I have accounts with more than one broker?
Yes. Many investors keep one account for low-cost small trades and another for IPOs, foreign markets or remisier support.
Do I pay extra to have a remisier?
No. A remisier is paid from the brokerage you already pay; there is no separate fee.
Which broker is best for beginners?
Beginners benefit most from low minimum charges and someone to ask questions. If you want guidance while you learn, a broker with remisier support helps; if you prefer to learn alone with small amounts, an app-only broker is fine.
This article is for general education only and is not investment advice. Fees and promotions change; confirm current rates on each broker’s official website. Investing involves risk, including loss of capital.
