Awesome. Webull is one of the best alternative to robin hood in the US.

And they are not like moomoo or tiger where Free is not free. For webull, free is really free.

This post has been edited by Ramjade: May 29 2022, 11:58 AM

Does webull support fractional shares buy,sell?

Yes they mentioned they support fractional shares but must be market order. I
t's superior to syfe. Cause its really free unlike moomoo or tiger.

Yes I know so I already applied. Spore forum investor also suggest this. Finally really 0 fees for US stock via fractional shares even beating Syfe as that is only 2 free while webull is permanently free. IBKR supporters into US trades may want evaluate this webull. How come new brokers don't open on Msia but only in Spore? Webull is China monies backing.

Moomoo, tiger all also backed by Chinese money.
Cause Malaysia market is illiquid, government not friendly towards company which encourage people to invest overseas, history of capital control and Singapore is know as financial hub of SEA not to mention racial politics. If I were company I also set up shop in Singapore only maybe manufacturing I will do in Malaysia cause cheaper.

Yes finally free stuff. I have been waiting a long time for them. Was disappointed with tiger and moomoo for free* but with *.

Moomoo over in US is completely free.

If webull allow opening with Malaysian IC, I will open.

This post has been edited by Ramjade: May 29 2022, 04:44 PM

Dear all, I'm buying etf via Wise --> CIMB Spore --> IBKR.

I wonder if there is any "invisible limit" of monthly transferring of RM to CIMB Spore, where when you overstep that "invisible limit" BNM will come to you?

I read from BNM, https://www.bnm.gov.my/documents/20124/6036...ncy%2BAsset.pdf

...it says in page 2 of 5, that anyone with Domestic borrowing can "invest in Foreign Currency Asset up to RM1 million equivalent2 per calendar year" <-- if i understand this correctly, then it is very safe for me cos I would not reach 1 mil is a lot a lot for me... do I understand that correctly?

Thanks for any advice!

Money go out no problem..

will alert BNM if money come in to Malaysia past certain limit. Heard from finance friends the limit is RM20k. Best do it in batches if transferring a lot of money from overseas. If alerted, bank will freeze your money and ask you provide evidence where the money came from.. for what purpose etc. Might need to walk into bank to explain that time. Once all cleared your money will unfrozen for use. Need cooperate with bank fully when this happens.

This post has been edited by Davidtcf: Jul 15 2022, 11:24 AM

I think, I guess,...
That is assuming that amount of money are legally obtained in malaysia n all dues/taxes to it had been reported/paid and you have the records to prove it when asked.

Thanks, good to know the "20k limit". But not doing stock trading for a living so won't be getting money back into Malaysia anytime soon...

Thanks, that makes sense. All through electronic banking, hope all the e-trail to proof where the money came from should be enough.

Just a note though,....
There maybe a compilations n tabling of "transfer purposes",... (by bnm) 😬😅
https://www.maybank2u.com.my/maybank2u/mala...%20fifty%20sen).

Btw, if the money are legally sourced n all taxes on it had already been paid n records of them are being kept,...... Why scare bnm query?



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Because i do not want to go against the law, i've seen signage in airport that people need to declare if they are taking more than UDS10k equivalent of money out. So if the limit for investment is 1 million RM then I'm not worry. But if the limit is as stringent as 10k USD equivalent then I don't want to break the law

Or if it is just a matter of declaring then it is fine, but if it is a matter of not allowed to transfer more than X amount, then i want to abide by that too. Hence I read the BNM pdf.

But being in Malaysia, I wonder if there is any "undocumented limit" besides the stated one.

Maybe when the next time you go to the bank to transfer to your cimb sg bank,... You can try ask the manager?... Tell us after getting that info will you?

I do this online, so won't be walking into a bank anytime soon, and thanks to yours and the answer from Davidtcf, I've got the info I need for now.

Is always prudent to not be non-descript and keep a low profile with these things. Attention, once attracted, is hard to lose. And can make life very chuan. Even if there's really no issue to begin with. Such is mareshia.

For example, this can be seen when we use Wise to transfer out money, it will ask you the purpose of the transfer.
that is how they record it for outgoing money

This post has been edited by Davidtcf: Jul 15 2022, 03:30 PM

thanks bro for the info. if fractional shares is on, then it is best jor

Not really. Some said webull exchange rate sucks. Not sure how true that is.
Basically all US brokerage now have fractional share.

hi all, would like to update the first post on 'Cheapest Route as at 19 May 2021'

Anyone has better alternative so that I can update it for the benefit of our readers? thank you

1) wise or alternative any fintech which is cheapest, look at the best amount u can get after transfer
2) nowadays TradeStation is no longer in the story, IBKR no longer with activity fee, better choice with a cheaper fee

1) yeah good to have a few options (wise, instarem, sunway money). mostly for me, sunway money is cheapest but sometimes on rare occasion wise/instarem can be cheaper