*Please delete if irrelevant or duplicate*
Had to ask this because I couldn't find much info from other threads on E*Trade.

Several US MNC in Malaysia offers stock plan or RSU via E*Trade (TD Ameritrade was used some time ago). E*Trade commissions are $0 for Stocks, options, and ETFs compared to TSG:$1.5/order or IBKR(fixed):$1/order. In addition, there is no minimum value or inactivity fee, quite comparable to IBKR Lite (only available for US citizens). Anybody have experience using E*Trade brokerage? (non-ESPP/stockplan account)

Biggest drawback is the withdrawal fee of $25

I do. But you have to go thru back channels (web chat or phone call to customer service ) to create a brokerage account OR enable brokerage activity with your espp account.

If you are doing that successfully, remember to also register your wife as a joint account owner with rights of survivorship.

There is no better rate for withdrawal to Malaysia from another brokerage that I know of, and at the same time it may well be an under utilised function haha.

Some brokers have free withdrawals, just that the telegraphic transfer fees from our bank eats away the money. Mind sharing how did you deposit into and withdraw from E*Trade? Did you use fintech like TransferWise, Instarem, Suway Money etc?

Can you share which broker offer free withdrawal? TT incoming fee is only a small amount in my experience, when I used HSBC it is rm5.

Yes I use the fin tech you listed to deposit into E*TRADE. But use normal banks to receive the wire transfer / TT for withdrawal.

etoro if u r platinum member, no withdrawal fee.
https://www.etoro.com/about/clubs/

If I remember correctly IBKR or their whitelabels gives 1 free withdrawal per month (subsequently $10). However the telegraphic transfer charges from banks still apply. Unless you have a bank which waives the incoming TT fees. So far I found there's CIMB SG FastSavers waiving it.


What's the requirements to be a platinum member? I do have eToro account but the deposit and withdrawal methods is kind of sketchy and puts me off from using it. I heard they use shell companies to move funds around, so your fpx and transfer goes around some random name sdn bhd. Moreover the withdrawal will go back into your deposit method i.e. if you deposit via credit card (not recommended) it goes back as balance in your card. No idea what's gonna happen if you cancel the card.

I'm not entirely sure what I know is correct as I did not use eToro extensively. If you could provide more valid info from your eToro experience that would be nice!

25000 usd worth of assets for Etoro platinum.
How often do you plan to withdraw money from international brokers?

Ideally, never to withdraw until retirement. But who knows what's gonna happen along the road. Considering how much faster the growth of international market compared to MY, I'm betting it is worth the hassle.

Don't forget about the falling value of ringgit. Although USD seems to be weakening at the moment, it is likely to return to strength over time. Meanwhile the political, socio-economical state of Malaysia deteriorate. Given how they are printing money and injecting stimulus into the economy, the current explosive growth is likely driven by inflation with a lot more money flowing around, but with less purchasing power. Having investments diversified in multiple currencies and markets would help manage downside risk.

This post has been edited by Murasaki322: Feb 12 2021, 06:32 PM

It's definitely worth the hassle to invest of shore. Its not so to worry about the withdrawal charges that you say may hardly be exercised....

I delayed my off shore investment for years dilly dallying about the withdrawal fees. I remember putting off amazon at 200 and 600 usd (first one was hassle of funding) second one was hassle of withdrawing. Now it's 3000+ and my latest excuse is too expensive per share. But I'm now buying etfs that has it....lol

Submitted on Wednesday, ready today. I'm excited. Meanwhile TSG-IBKR still waiting for approval since last week.
I'm still dilly-dallying about the $25 withdrawal charges on E-Trade and forex conversion charges. Ugh. Also because my fund is not that large to begin with.


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From my few times of funding etrade through fintech, I compared sunway money and Instarem and usually I get better rates through Instarem. Besides the referral system gives me a few rm of kickback.

I have not tried transferwise.

interesting, mind to share the steps of the application? mostly ppl only discuss either on IB or TD in the forum...

what is the steps to use fintech to send to ETrade?? as I am aware brokerage like TD only accept TT and not much ppl discuss on ETrade...

You can check out this blog post:
https://medium.com/fortune-for-future/inves...er-810e82817671

ETrade is quite established if companies are using them for RSU and Stock Plan. Not sure why it isn't widely used like IB. Probably the difficulty to get an account registered or most lyn forumers here has huge capital in USD to trade actively.

thanks for all the info really appreciate it

a couple of questions:
- did they send a debit cards when the account was opened?
- can you see a non-US domiciled ETFs?

Are they still requesting for an active passport?

Tried to apply last year, they said still need an active passport although i have an employee stock plan account with them.

Anyone used transferwise (or any fintech services) to receive wire from etrade before? Any issue?

Hmm?
To receive wire? Why would you not bank in straight to your account via TT from Etrade to your local bank account?

I don't remember fintech can "receive" money.