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

I am using trading212 now.
Funding via credit card has no advance fee, but the rate really sucks.
I have done my withdrawal last week and the money was reverted into the same credit card as well.
And I also received my reward point after funding. (Citibank credit card)

That's why we use BigPay.
Spot rate.

Yes, definitely big pay will be the best option for funding.

so far so good with trading212

seamless top up with bigbpay, others havent try out yet

interface ok la.....better.

Prefer a pie chart or much better visualisation for overall portfolio.

Some popular ETFs may not available on this platform. What i like most is the factional shares, wheres you can buy the stock as little as 0.01 unit. Ok la so far.... looking forward for Robinhood app too

How does Trading212 differ from Tradestation International, in terms of deposit, withdrawal, other type of fees?

I read that Trading212 allows fractional shares while Tra destation don't

Anyone can teach how to deposit thru bank?
Any link?

I don't like the their web platform with line chart. Do you know how to remove the chart info?

do you mean wire transfer?
the wire charge will incur high remittance fee, why you are not using bigpay for funding?

I meant TT tho
But open for any suggestions, big pay, transfer wise

I did some digging,
>Myr10k Maybank rate better via TT flat rm10 fee
<Myr10k transferwise better even tho the fee is higher

Open to more input

But have no experience on how to deposit into trading212

This post has been edited by xcxa23: Aug 11 2020, 02:10 PM

You have to consider the withdrawal method:

FYI, below, copy from from trading 212:

For security reasons, we will send your withdrawn funds using the same payment methods you have used for funding your account. If you have funded your account using:

Bank transfer - We will return your funds to your bank account
Debit/Credit card - We will refund the money to your card.

I knew that.
Hence I opting for bank TT
So anyone know how to deposit thru bank?

not sure about that, i spend more time with app than web

i have been using Trading212 for past few weeks.
basically good stuff:

a) accessible to US, Europe (not fully)
b) no maintenance fee
c) fractional shares. (from USD1)
d) no transaction fees
e) easy to deposit money (tips: use BIGPAY debit card for almost @ spot live rate)
f) option for CFD account. i did not explore it yet

overall, great brokerage with everything laid out clearly
App is easy to navigate, not so on web
If ur a small amount investor who doesn't want misc fees and inconvenience, trading212 is the way to go

Basically, easy forward to open acc. doc needed : Passport, Bank account statement, utility bills. Most important of all, name and address must same and correspond to you what you have registered.

For depositing money using Bigpay card, is it considered like online payment for things we buy or is it considered as bank transfer? What's the limit we can purchase stocks in Trading212 via Bigpay?

PS: I'm new to Bigpay

but if withdraw back to credit card, will your CC points be deducted?

I'm lost with TransferWise thing. I'll check it out in a bit.

Withdrawing part it incurs a charge of rm0.50 back to your various banks in Malaysia. Which I think is a reasonable fee.

I use bigpay not to transfer back to malaysian bank account but rather to use it to

1. Fund my international stock purchase in trading212
2. Make payment and get points.
3. Use when I'm overseas so I don't need to bring too much physical cash.

Does anyone know who owns bigpay?

And what are the small digits stated at the bottom of the card for?

This post has been edited by seanlam: Aug 15 2020, 08:50 PM

TransferWise borderless account let you have virtual bank account in US, Europe, UK with real bank account numbers.
This allows you to transfer like a local.
You can use it to send and received money.

Bigpay limit is RM 10K while there is no such limit with TransferWise.

True. I never bring my money back but surely there will be a time where you need to bring back the money to Malaysia.

Tony Fernandez under his AirAsia group owns bigpay.

Thank you for the info.

Bigpay max 10k refers to amount in account at one time. Still ok.

Max 2.5k top up is only for credit card.



This post has been edited by gashout: Aug 15 2020, 07:08 PM

Need to think don't tell me you only have rm10k invested?
Sure one have like few hundred thousands to millions.

2nd stuff to think of is for withdrawal does it count as a TT to bigpay?

If yes exchange rate would be bad as using an overseas credit card to top-up bigpay. You pay extra 2-3% on forex fees.

You're right. It's more than 10k. You can always transfer it to trading212 before putting another 10k into bigpay. 10k is only max amount pwr time, not per month.

I have not explored that. But you're right. But I'm assuming in many years to come (given investing is long term and best never sell it), withdrawal rules may change and there will be other ways to withdraw the fund. Past 10 years has changed a lot, an investment time frame of 10-20 years, what will the withdrawal options be? Plenty.

Perhaps someone who has done from trading212 to bigpay can answer that?

I've explored transferwise app, nothing about borderless account and Malaysian currency/banks are linked to it. Hence, I'm still stuck at what you've suggested.

Putting money not a problem. Cause you can put multiple Rm10k(s) in.
Is the withdrawal part. Problems.
1. You can't put in more than RM10k into bigpay
2. Unsure if overseas transfer to bigpay = paying more for incoming cash as bigpay only accept RM.

The TransferWise borderless account need to apply. You won't auto get it upon opening account. There are some rumours around that recently TransferWise ban newly open account TransferWise account in malasyai from having access to borderless account (they won't get the feature).

But since I am an old customer before the so call ban, my borderless account is still active and valid. Best to drop TransferWise an email.

You have a valid point there. Let me search for some answers.

With transferwise, yes. I'm stuck with what's available for me to sign up. I'll send them an email.

I have uploaded my bank statements couple of times, but they keep rejected saying address is not matched but my address is exactly matched

is the address that u register matches with utility bill , bank statement add?
ya, t212 system could be a biatch at times. try emailling a live CS

*just a side note: there's a 30% tax less on dividend declared. jus bear in mind

This post has been edited by kucingfight: Aug 18 2020, 12:02 AM

*just a side note: there's a 30% tax less on dividend declared. jus bear in mind

[/quote]


I thinks the WHT is subject to where the fund (ETF) domicile or the company listed on. If uk, its 0% tax for div

edited

This post has been edited by theberry: Aug 28 2020, 01:47 AM

My passport expired with no plans on renewing it anytime soon. Can the old passport be used for their registration requirements?

Anyone know how fast the money will back to the account after submit the withdraw request

a lot of companies use ocr auto matching... sometimes a tiny bit off gets rejected... best talk to live cs

I tried once last month, it takes 3 working days to receive the money from 212

This post has been edited by Kudo2012: Sep 3 2020, 11:17 AM

Anyone found the answer? interested to know on the withdrawal process if deposit funds using bigpay. Looking forward for your reply!

Withdraw back to bigpay I suppose?

Theoretically speaking yeah. After reading through this thread, doesn't look like anyone shared a successful experience.

Forget about withdrawing to bigpay cause not sure if it's treated as topping up bigpay via TT. If yes, it's expensive.

Yikes!! I guess we'll have to go via the conventional route ? But tbh, I think the conventional methods, bank TT/credit card is still cheaper than our local brokers, eg: CIMB, Maybank. 20 usd per transaction. I wish I found this thread earlier...

Yup. Only way I can think off is
1, Withdraw to TW Borderless account.
2. Withdraw to HSBC global account (but need to have priority banking which means park RM250k and let it rot)

This post has been edited by Ramjade: Sep 3 2020, 03:41 PM

cannot withdraw to bp... can only top up using myr... cannot top up using foreign cc...

I confirm with bp cs already

That's not the only way isn't it? Just fund using credit card, if withdraw it will be transferred back to the credit card. Then call the card issuing bank to transfer excess funds.

This post has been edited by zeonz: Sep 3 2020, 04:08 PM

Nope. But how are you going to get the money out of the credit card?

Then how to take back money if top-up from bp?

Spend it hehe

ah got me broker confused... rest was referring to bp

should be able to withdraw only up to deposit amount... anything more need to use wire or others... this is standard sop for brokers that accept credit/debit card deposits

How to withdraw the excess profit? I tot 212 don't support wire.

got

did not see that option on my withdrawal page. only see card option

because i top up using bp so cant that see option?

This post has been edited by theberry: Sep 3 2020, 06:07 PM

I think so

https://helpcentre.trading212.com/hc/en-us/...drawal-methods-

Last month I received the fund at my Bigpay account, but not from 212, is from Etoro instead

u fund etoro?

have you withdrawn to bp more than deposit?

1-2 yrs back I checked a lot of brokers and they only allow withdrawal up to your deposit amount, anything more need other methods. they essentially are doing a card refund so can't do more than what you have spent...

maybe it's different now and my info is obsolete...I have usd I wanna bring back so this is good news

i am using Etoro and 212.

no, the withdrawal fund is smaller than my deposit amount.

Depositing money into trading212 is easy. But withdrawing to BigPay can be costly. BigPay isn't a multi currency cash account. It can only hold MYR currency. Any withdrawals/refunds from trading212 to BigPay may incur TT fees / currency conversion fees (as mentioned by Ramjade). These conversion fees (for the refunded amount) may not necessarily follow BigPay's rates.

The second problem is, withdrawing money from BigPay is troublesome and costly. Recently, BigPay has reduced withdrawal limit via bank transfer to RM 1,000 per withdrawal (maximum RM 2,000 per month), with RM0.50 fee per withdrawal. If you want to withdraw more than RM 2k from BigPay, you have to visit ATM to withdraw in cold hard cash. There is a RM6 fee per withdrawal. There is a limited amount that you can withdraw, depending on the type of ATM bank, location of ATM, day of week, and even time of withdrawal. Very few ATMs in Klang Valley allow withdrawals of RM 4k. Most ATMs have a RM 2.5k or RM3k withdrawal limit. Good luck hunting.

If you still wish to proceed with Trading212, your best bet is with transferwise. You need to get a multicurrency cash account. But this feature isn't offered to Malaysians.

Leave your options open. Do not limit yourself to deposit and withdraw via BigPay only. Stop wishful thinking that Trading212 will offer more withdrawal options in the future. You need to prepare for the worst, and hope for the best.

That's the reason I don't use trading212. I cannot figure out how to deposit and withdraw large amount without going through banks.

Small fund size player less than 1k USD should be ok? I guess?

Overtime you think your value stick at USD1k?
Don't you think it will go to USD10k, 20k, 30k?

Playing small sized fund is ok dont put all egg in 1 basket ma.
Because 212 offer fractional shares no inactivity fee compared to ibkr and tsg

This post has been edited by theberry: Sep 7 2020, 01:43 PM

I made withdrawal once on 3/July to my credit card

USD 500 vs MYR 2,191.65 (rate 4.38)

I checked the histrorical rate, the rate on 3/July was 4.29 (highest)
It should be no TT fees if revert back the fund to credit card.

This post has been edited by Kudo2012: Sep 8 2020, 07:15 PM

tt uses swift system

mastercard uses own system... so no tt fees... normally they charge cross-border fees but for now bp waived this

MasterCard fx rates is usually very good... close to spot market... they used some mid day mid band average I forgot what liao...

My experience so far on this platform.

I used to study in the UK. So I have a digital bank account (Monzo) based in the UK with substantial GBP denominated savings. But I only managed to open a Trading212 account well after my resident pass expired. Hence, I can only choose to fund my account with two base currency, USD or EUR. I used EUR coz I wanted to focus on buying in the European markets.

In terms of funding the account, Monzo seems to apply the best rates. There are no bank fees and the rates follow exactly Mastercard's rates. (Although I suspect Mastercard has their own spreads). So this seems to be the cheapest way to fund my account rather than use my MYR funds.

In terms of buying the securities. So far, it appears that even with currency conversion, there is almost no fee charged. So using my EUR account to buy a stock in GBP, it appears to be converted at a market FOREX rate with no add-ons. (If got also, it seems to be very small even for trades of around a few hundred EUR).

Withdrawal is relatively slow. I tested with 1 EUR and it took about 3 - 4 business days for this to be wired back to my account. The rate is again at the Mastercard rate with no extra fees charged by either Trading212 or my bank.

One thing about the zero commission I still can't clarify is whether there are spreads built into the prices of the stocks/ETFs. I suspect got, but it appears to be tiny. (i.e. the price of the stock closely resembles the actual stock prices on the respective exchange). But I'm still unclear so if anyone knows about it, I would appreciate your help

Trading212 vs eToro for US stocks? Any sifu have any advice?

Considerations around all fees, ease of getting money in & out, and also secureness/regulations (FCA vs ASIC if it makes any diff for us).

how come you don't open high street banks like Barclays, HSBC etc but Monzo??

I have a mainstream account too at HSBC, which I primarily use to receive international payments. But for day to day use, its Monzo

interested to know this too.

Additionally, is it a must to have UK bank account? Can we do wire transfer like TDA SG?

This post has been edited by Ziet Inv: Oct 26 2020, 12:32 AM

Does anyone use this with merchantrade card? This card can buy USD to buy and sell. Wonder if i buy USD and then use trading212. Will it use the bought USD?

This post has been edited by ericlaiys: Nov 15 2020, 06:14 PM

Just perform a withdrawal of USD 2.7k from Trading212 at 12.06 am.
Received my money at 3.26 pm on the same day.

to where?

BigPay

why exit? How is trading212 experience if u dont mind to share?

How was the currency rate vs Google?

Trading212 has been great. The platform is robust and won't lag if there's a spike in market activities.
I thoroughly enjoy my trading there.

RM 1 = 0.2430

seems to be super close to spot rate with no markup.
1 MYR / USD 0.2448 from yahoo finance

Was researching and concerned on withdrawal process but this seems OK.

That's BigPay rate.
T212 just sent USD to BigPay and BP is the one converting to MYR.

Just curious, USD 2.7k is more than RM10k, how did u manage to transfer to bigpay? I also using t212 and now this is the main concern for me, as i don't have tw borderless account.