You're chilling in KL, picturing yourself owning Tesla or Apple just in time for the next family gathering brag. How does one invest in Wall Street while chilling with roti canai and a phone?
First, the paperwork. https://tradu.com/my/invest-in-stocks/
Banks and stockbrokers in your area are not the only ones who can get you to Wall Street. You need an international brokerage account, such as Interactive Brokers, TD Ameritrade, moomoo, or even the well-known Tiger Brokers. These platforms are open to Malaysians, and no handshakes are needed. Pro tip: choose a platform that works well for your tech preferences and offers good support.
Setting up the account is like getting ready for a durian feast: a lot of work, but worth it. Take a picture of your IC, proof of address, and maybe a selfie where you only seem half-grumpy, and you're ready to go. Some platforms do background checks faster than a cheetah, while others take longer than the monsoon season. Lesson here: patience, my friend.
Now we move to funding your account. Sorry, but you can't take any shortcuts with your ringgit. Transfer options include local banks, FPX (for some), or more affordable choices like Wise or InstaRem. Heads up: sometimes banks charge a lot of money. Here, comparing prices on things makes your cup of tea last longer.
Once the funds hit, it's go time!. The US stock market opens right as we're getting ready for dinner. Good news for insomniac traders. Staring at live charts, you feel like a hungry predator in downtown KL. Click, swipe, trade—repeat. You’ll be working with giants like NASDAQ and NYSE. Partial shares let you test the waters without having to sell your bike.
Here’s a surprise twist: taxes hurt more than bad picks. Malaysians have to pay 30% of US dividends as a withholding tax. It's not a big deal, but don't be shocked when Uncle Sam takes his piece. Here's a bonus tip: in Malaysia, you don't have to pay taxes on capital gains from stock sales (yet!). But always check the newest rules. A little research beats a surprise tax bill.
Are you worried about FX? A quick change in the value of the ringgit can cut your profits or make your losses bigger. You can hedge, or you can hold on and hope your stock picks beat the forex shifts. Accept the pandemonium, but keep an eye on the numbers.
Need some help? You’ll hear stories everywhere—FB groups, Telegram, even at your favorite kopitiam. There’s always that guy with a “guaranteed profit”. You should trust them, but check. Everyone who is new has that one story about how they bought GameStop at the top.
Buying US stocks from Malaysia isn’t quantum physics—but it does have some hoops. Like finding the right table at your favorite mamak. With the right setup, a little patience, and the ability to laugh when things go sideways, Wall Street is within reach. Now go chase those stocks!