Hi,

I have been interested in trading for a long time but previously quite tied up with business so had no capital for investment. Now everything a bit stable I am looking into getting started. I did dabble in BTC last time during the previous hype and made a good amount but other than that I have no experience in this. So my goal right now is to basically understand and test with small amount to get familiar with the system and how it works. I have gone through a number of the threads and info here and basically came up with a noob understanding of how to get started. Below is the process I came up with. I hope some of the sifu here can advise on what is right or wrong or a better way to go about it.

Brokers
Local - M+ or Rakuten - From my understanding these are generally recommended local broker for trading in the Bursa
Oversea - IBKR - This seems to be the most popular one. Recommended to open via Tradestation to avoid monthly fee but higher trade fee.

Fund Transfer
Local - Can transfer via local bank
Oversea - Transferwise - I don't have any overseas accounts, only local ones

Process
Local - Apply for chosen broker -> Transfer money from local bank account to broker -> Do trading -> Transfer money back to local bank account
Overseas - Apply for chosen broker -> Transfer money from local bank account to Transferwise -> Transfer from Transferwise to broker -> Do trading -> Transfer money back to Transferwise -> Transfer from from Transferwise to local bank (Need to do conversion of currency on platform depending on which stock you buy)

I put local and overseas brokerage as I am not sure which one I will end up using as I understand if want to trade overseas stock better to use overseas brokerage. I might try both just to get a feel of how it works. I understand there are many fees involved and I am studying each one but at the moment I am just looking at the simplest way to get started. Hopefully someone can advise on if there are any better approaches especially regarding the transfer of money between the overseas brokers. Thanks

I heard some ppl use BigPay to do it. Never tried it myself. But right now I'm using TW as you are except its from my overseas accounts to Trading 212

Don't worry too much about getting the lowest possible fees. You can trade overseas stocks on iTrade or Etoro. I'm sure you can do it on M+ or Rakuten too.

Don't buy hype stocks. By the time you hear about it, it's already too late, generally.

Do your research and understand why you are buying a stock. Don't buy stocks because someone said it's good. The internet is full of people trying to pump and dump.

Oh Cool. I will check it out. By the way, does it matter if you use on overseas account i.e is it faster if I were to use TW to transfer from a Malaysian account to say EU or UK or would it be faster if I use TW via a Singaporean account instead. Or is the Singaporean one faster because they accept SGD on the platform?



Thanks for the advise. I am not too concern about the fees actually as I am not going to be a day trader or anything. Its more for midterm investment so I wont be doing a lot of transactions. I am just more interested right now on understanding how the system works and which would be the easiest way to do it.

I think no difference. Both methods also took about the same time coz they need to do their Due D