QUOTE(Slash21 @ Oct 4 2022, 12:45 PM)
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
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.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
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.
Oct 4 2022, 01:53 PM

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