I heard malaysian citizens can apply for their invest account.

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? 🙄🙄🙄

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?

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'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?

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.

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.

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

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...

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.

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.

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