Hello all,

Looking at a local platform for stocks trading with most countries, at least 10 or more. IBKR need to send funds to foreign country and am afraid that in 2026 all foreign funds are taxable although I am not sure of capital gains.

Can you please recommend some online trading account that can handle more than 10 countries? Preferably with low trading commission.

Thank you

This post has been edited by Slash21: Oct 4 2022, 12:45 PM

None. IBKR is the best you got. Unless you want to travel to each of that specific country and open a local account with the local brokerage.

Regarding the 2026 plan, it's dividend which is remitted back to Malaysia (the original plan). There's nothing about funds giving overseas will be tax. So if you get the dividend and don't bring it back to Malaysia, its not taxable.

This post has been edited by Ramjade: Oct 4 2022, 01:00 PM

Most local platforms offer trading with major markets, easily more than 10 if you consider broker-assisted trades. Examples include Kenanga, HLB, Public Bank, Maybank CGS-CIMB, UOB Kay Hian etc. Electronic brokerage trades are usually available for liquid markets, e.g. US, UK, MY, SG, HK, HK-CN Stock Connect etc.

The problem is these brokers impose very expensive charges for trades on foreign platforms, so foreign brokers which are regulated in other reputable jurisdiction like SG, HK and the US are recommended instead. These include IBKR (Interactive Brokers), Futu/Moomoo, Tiger Brokers, Saxo Markets, FSM SG etc. Of all of these, IBKR provide the widest access at the lowest (or next to lowest) cost among many brokers.

For the 2026 foreign-sourced income tax, I am not sure you can avoid that by switching to a local broker. Depending on the bill passed by parliament then, if the securities are ultimately own by you, you may still have to shoulder the burden of paying FSI tax for dividends/coupons/interests received from foreign stocks/bond/cash and equivalent holdings.

You can explore this latest platform available in MY: https://www.sc.com/my/investments/smartstocks/

PS: I'm not related to this platform in any capacity. Just sharing info. Don't have the details

When an investor invests overseas, there will be capital gain as well as dividend payouts.

How then do we decide, when we do remittance back to Msia, whether that portion of funds is from the capital gain wallet or from the dividend wallet ?