Do you intend to begin investing or trading in stocks in Malaysia? If your answer is yes, as a new trader, one of the most important steps is to select a legitimate, regulated, dependable, and user-friendly stock trading app.
There are various types of trading platforms, brokers, and apps, that provide online trading services; as a trader, you should choose wisely and conduct extensive research to reduce the risk of losing your trading money. In this article, we will walk you through the top 10 trading apps for stocks in Malaysia, focusing firstly on those that are reliable, trusted, and easy to use.
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Top Stock Trading Apps For Malaysia
Tickmill
Tickmill offers a comprehensive range of features designed to give traders of all abilities the best possible facilities with which to enter the markets. Beginners are supported by user-friendly functionality and a range of up-to-the-minute educational and research services. Intermediate and advanced traders can draw on high-end trade analytics, including the well-regarded Autochartist technical analysis package.
The trading experience at Tickmill is all about fast, reliable, effective trading in asset types ranging from stocks, forex and cryptocurrencies to commodities and bonds. The tight trading spreads and additional research features such as Acuity Trading and Signal Centre make Tickmill an ideal option for all types of strategies, whether you’re looking to focus on one market or build a more diversified portfolio.
| Pros | Cons |
|---|---|
| Great trading experience | Relatively limited number of markets |
| Ultra-fast, cost-effective, reliable trade execution | Does not currently accept US clients |
| High-quality research and analysis tools | |
| Well regulated | |
| Tight trading spreads – as low as 0.00 pips |
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Maybank
Maybank Investment Bank Berhad is the next best trading apps Malaysia. Maybank provides two types of shariah compliant and conventional accounts for investors through its Maybank Trade (maybank2u.com) trading platform.
Investors can trade indices, equity stocks, commodities, and gold with Maybank for as little as RM10.60 for the opening of a CDS account. The most convenient aspect of selecting a local bank as your preferred trading platform is that you can simply visit the nearest branch if you have any trading-related issues.
| Pros | Cons |
|---|---|
| Broker from a reputable bank in Malaysia | Rather high commission fee |
| Offers shariah compliant and conventional accounts | High volume of document processing required |
| Document verification takes a long time to process |
RHB Investment Bank berhad
RHB Investment Bank is a major player in Malaysia's capital market. Apart from Malaysia, there are in Hong Kong, Indonesia, Singapore, Brunei, Cambodia, Laos, Myanmar, Vietnam, and Thailand. RHB trading platform, known as RHB Trade Support has received endorsement in product expertise by Award Winners Experienced Study Group.
Among asset classes available in this trading platform are gold, equities, United States indices and unit trusts.
| Pros | Cons |
|---|---|
| Provides online and offline training of experts in stock coaching | Registration process takes 3 days |
| Attractive incentives available, such as reward points, chances to win attractive prizes and traders will be provided with daily Stock Exchange reports | The cost of a broker is relatively high |
| Ability to buy IPO shares with credit facility | Other cost charges applied such as credit management costs |
| Process are taken entirely through online method |
Hong Leong Investment Bank
Hong Leong Bank Berhad is a Malaysian stock exchange-listed company that is part of the Hong Leong Group, and also Malaysia's fifth largest banking group.
The group's trading platform, HLeFutures Mobile provides investors with among the lowest brokerage fee at 0.106%, or a minimum of RM 8.48, with various trading assets such as currency exchange, bonds, unit trusts, deposit instruments, foreign commodities, and forex trading.
| Pros | Cons |
|---|---|
| Financing Margin up to 60% | CDS accounts opening processes can take up to 30 working days. |
| 24-hour foreign trade desk | Offers only one type of account |
| Quotes and real-time information are provided at no cost to clients who execute three trades per month. |
How to Choose the Best Stock Trading Apps in Malaysia
Now that we've gone over the seven best trading platforms available to you, let's go over the simple steps to selecting a reputable trading platform for your safe, secure, and profitable trading journey.
- First and foremost, you must ensure that the company you select is regulated and authorised to provide any type of financial services or activities.
- Next, ensure that the company is not embroiled in any legal issues. Before deciding on a trading platform, ensure that the company has legitimate credibility and is providing the services as required by law.
- Pay close attention to the company's services. For example, whether online stock trading applications run smoothly or frequently make errors; whether the company acts solely as a broker or as a full-service provider that provides issuer recommendations and market analysis on a daily basis.
- Lastly, take note of any bank affiliations as well. It is always preferable to use a trading app that is affiliated with a bank where you have a savings account. This will make transferring funds easier for you.
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Trade Stocks with The Best Trading Apps
After reviewing our list of the top stock trading apps, I am sure you may have a better idea on which trading app to use. Before you begin investing, you should be aware of the risks involved, and always remember to trade with knowledge and be a wise investor. Conduct thorough research on each trading app before deciding to open a trading account with them. Trading is intended to expose you to the possibility of increasing your income, and as such, it is unquestionably risky. We hope that this article has helped you prepare for your trading journey.
*You will need to ensure you use locally regulated platforms and brokers, which can at times change. Please do not rely on this guide solely, but do your own due diligence before determining the most appropriate broker or platform for your needs.
