I heard malaysian citizens can apply for their invest account.

I actually comtenplate to try .. it said in the apps no 1 UK apps.. youtube has over 500k subscribers.. then i realised it almost the same with etoro.. so i picked etoro

I have both. What do you want to know?

How has your experience been so far? Like minimum deposits and if the fees are expensive?

I prefer eToro because of the social trading aspect.
Trading212 is good if you have a small balance or you want to buy stocks that are not available in eToro.

how about the commission.

0% commission trade.
Good thing is the backbone is powered by IBKR.

I have open trading 212 but haven't use because of the withdrawal process. It's either back to credit card or initial bank account right? If credit card I don't know how to take out, if bank account the forex and fees will be high?

I’m Malaysian currently studying in the UK, so I was able to open an account effortlessly. This is new, I thought only UK residents can apply before this.

not sure if worth the time due to witholding tax by respective countries....eg US 30% ( can be lower down to 15% when u fill up a form W-8BEN)


witholding tax on dividend. How about if i sell the stock at cost? Next is capital gain taxable?

lastly, lets say i go for DRIP, am i subject to witholding tax? 🙄🙄🙄

This post has been edited by seanlam: Jun 19 2020, 08:58 AM

Can. You need to think about how to fund and withdraw money.

Nope. Just make sure don't close your bank account when you lesve UK.

Of course. You cannot run away from dividend tax unl SS your country got treaty with Us govt.
Unfortunately Malaysia doesn't have. Hence you can I'll be taxed the full 30% if you buy US stocks or etf.

thats sad.... when neighbouring country eg indonesia enjoy such privilege....

You could use Bigpay instead of a CC. That way you get the best exchange rates in and out. Of course the limit is the issue but with no withdrawal fee, unlike etoro's $5, it's not really a big deal since you can withdraw up to your limit and then move the cash out. Just rinse and repeat.

Not worth holding US dividend stocks if you're not an American or one of those countries with a tax treaty. But then again even with 30%, it's still better than FD

capital gain not taxable under the witholding or other tax regime right?

No capital gains tax for non-resident but you still get hit with the 30% withholding on dividends which the broker will handle. No idea if there's a way to claw it back yourself without a tax treaty. Need the songlappers in Parliament to get something like that signed with the US.

Thanks, that's a good idea !

Do you fully trust trading 212? You think it can be used for long term say 10-15 years?

Of course. Cause once they have huge number is sustainable for them already.

Thanks ramjade. Do you mostly use IBKR or trading212? What's your experience in terms of cost (brokerage, forex, transfers to fund account)?

Hi All,

For Trading212, Has anyone tried to deposit funds using a credit card issued in Malaysia? Were you charged any cash advance fees by the banks? Do you receive any credit card Reward Points?

Thank you

I only use IBKR as
1. I don't have UK bank account to withdraw money. It I have a UK bank account yeah sure I will use trading212.

So yeah can't really comment on trading212.
Ibkr have complicated interface but all you need to do is learn how to deposit money, buy and sell stocks, Convert currency and withdraw out money.
Ibkr already tiv spot rate = real time market rates = b at rates you can get.
Trading 212 is good as their commission is free Vs Ibkr but Ibkr is ch pa enough and sometimes you need to pay.
Transfer for me is very easy. I use local transfer of FAST from my Singapore bank to Ibkr sg bank account (like IBFT) so it's almost instant for me (wait max 1h for them to put money into Ibkr)

Get ready to be charged higher foreign exchange rates if you use credit cards.
Yes possible can earn points. Not tested.

You need to think how to withdraw out the money as trading 212 already mentioned there they will withdraw to the same way you deposit the money.

This post has been edited by Ramjade: Jun 21 2020, 02:15 AM