To buy Bursa Malaysia shares, you need a broker's trading account and a suitable Central Depository System (CDS) custody arrangement. The trading account places orders; the CDS system records holdings. A brokerage used only for overseas shares uses a different custody structure.
Bursa allows individual CDS applicants aged 18 or older. Its standard opening fee is RM 10, though you may pay less if your broker subsidises it, or more once other charges are added. Eligible Malaysian MyKad holders can apply through Bursa Anywhere, then complete the broker's trading-account onboarding separately.
This guide covers custody choices, documents, fees and how to place your first order.
Quick answer: what do you need to open a brokerage account in Malaysia?
Start with the market you want to invest in and the account's actual terms. The label “online trading” could describe a direct CDS account, a nominee arrangement or a borrowing facility, so check which one you're signing up for.
| Question | Direct answer |
|---|---|
| Minimum age for individual CDS opening | 18 at application; brokers can impose additional eligibility requirements |
| Accounts for Bursa shares | Trading account plus a direct or nominee CDS arrangement |
| Standard CDS opening fee | RM 10; broker subsidies and additional charges change what you pay |
| Main documents | Identification, bank details, contact information; other KYC and tax documents when requested |
| Online application | Participating brokers; Bursa Anywhere for eligible Malaysian MyKad holders |
| US shares through personal Bursa CDS? | No; use a broker's overseas trading and custody arrangement |
| Ordinary-share normal board lot | Usually 100 shares; odd lots use a separate facility |
Source: Bursa eligibility, online eligibility, Bursa CDS guide hosted by MAICSA and Bursa board-lot explanation (as of 10 October 2026)
Choose the market first, then check custody and funding rules before applying.
What is a stock brokerage account, and how is it different from a CDS account?
A broker receives orders, a depository records securities, and a custodian may hold them on your behalf.
Stock trading account: where you place buy and sell orders
Your trading account provides order entry, funding records, positions and contract notes. Check whether it buys actual securities or offers contracts for difference (CFDs). A CFD gives you contractual exposure to a price movement, often with leverage, and you don't own the underlying shares.
CDS account: where Bursa-listed shares are recorded
Bursa Malaysia Depository operates the CDS. An Authorised Depository Agent (ADA), usually a stockbroker, handles depository services for you. Bursa explains that CDS opening and trading-account opening are separate requirements. Bursa Anywhere handles CDS administration and onboarding, while your broker executes the trades.
Do you need a CDS account to buy US or Singapore stocks?
No. Overseas securities normally sit under the broker's foreign custody arrangements, which may include an omnibus account or sub-custodian. Confirm that your account has permission for the exchange and security you want, because Malaysian accounts vary in which foreign markets they cover.
A trading account executes orders; direct CDS records Bursa holdings in your name; nominee custody holds securities for you as beneficial owner.
Direct CDS vs nominee account: which should you choose?
Direct CDS puts the securities record in your name. A nominee holds securities for you as the beneficial owner, so you still own them; the contract sets out how administration, instructions and safeguards work.
| Feature | Direct CDS | Nominee or custodian arrangement |
|---|---|---|
| Registered record | Investor's own name | Nominee or custodian holds for beneficial owner |
| Dividends | Direct eDividend arrangement where available | Broker or custodian processes and credits payments |
| AGM and voting | Follow issuer's shareholder procedures | Follow proxy or instruction process and deadlines |
| IPO applications | Eligible direct CDS for the retail route | Prospectus and broker channel determine eligibility |
| Corporate actions | Investor responds to notices | Custodian conveys notices and processes instructions |
| Account administration | Direct depository relationship through ADA | Additional custody procedures and possible service fees |
Source: Bursa CDS eligibility, custody and transfer guidance and Maybank cash-account terms (as of 10 October 2026)
Ask about dividend handling, annual general meeting (AGM) registration, voting instructions and transfer-out costs. Bursa Anywhere mainly serves individual direct CDS accounts, so nominee holdings may not appear there. Ask your nominee how you can view your balances.
Bursa permits another CDS account through a different ADA, but not multiple accounts with the same ADA under its standard rule. That means a new broker may need you to open a new CDS account rather than reuse your existing number.
IPO access depends on the product. Maybank's cash account explicitly excludes IPO/eIPO subscriptions, while Moomoo offers a separate direct CDS Account-IPO route alongside its nominee custody. Check the account terms and the prospectus.
Cash upfront vs cash trading vs margin and contra accounts
Custody and financing are different decisions. You can have nominee custody while buying entirely with your own money. Read the funding terms, because “cash” means different things at different brokers.
| Account type | How it works | Main cost or risk |
|---|---|---|
| Cash upfront | Fund the intended purchase before ordering | Cash must be available; market losses still possible |
| Cash trading | Broker-specific payment and settlement terms | Late payment or failed-settlement consequences |
| Margin | Borrow against eligible collateral | Interest, margin calls and forced sales |
| Contra | Offset or close positions within permitted terms | Trading losses, exposure limits and settlement obligations |
Source: Rakuten account terms, FSMOne transaction notes and Maybank cash product (as of 10 October 2026)
If you're new, starting with fully funded purchases keeps investment losses separate from borrowing costs. Turning on margin to increase “buying power” adds real obligations, even when the app makes it look routine.
How to choose a licensed stockbroker in Malaysia (2026)
Choose a service that supports the holdings and custody you want, then work out its charges at your likely order size. A low headline percentage can lose its advantage once minimum or platform fees apply.
Verify the broker before comparing fees
Use the Securities Commission Malaysia (SC) Investment Checker to check the exact legal entity, its status and authorised activity. Match its official contact and website details, since scammers often use a familiar logo to pose as a licensed firm. For direct CDS opening, also confirm the ADA with Bursa.
Compare the details that actually change your experience
Check market access, custody, funding, order types, withdrawals and support. For overseas investing, add FX costs and whether fractional trading is allowed for the instrument you want.
Brokerage-fee examples, October 2026
These are standard online Bursa fee models, excluding introductory campaigns. They show how the pricing methods differ.
| Broker or service | Bursa brokerage | Important qualification |
|---|---|---|
| Rakuten Trade | RM 1 below RM 100; RM 2.88 for RM 100.01–RM 9,999.99; 0.10% for RM 10,000–RM 99,999.99; RM 100 above RM 100,000 | Confirm boundary values; additional levy above RM 1 million |
| Moomoo Malaysia | 0.03% of transaction value | Add RM 3 platform fee per order; commission rounded up to cents |
| FSMOne Malaysia | 0.05%, minimum RM 8.80 | Listed as a processing fee; no platform fee |
| Maybank Share Trading Cash Account | 0.10%, minimum RM 8 | Nominee cash product; other Maybank products differ |
Source: Rakuten fee card, Malaysian market fee schedule, FSMOne pricing and Maybank cash-account pricing (as of 10 October 2026)
Rakuten's tier labels leave exact boundary values such as RM 100 and RM 100,000 unclear, so check with Rakuten if your order lands on one of them.
Rakuten has tiered fees and Bursa, US and Hong Kong access; Moomoo separates nominee trading and direct IPO custody; FSMOne covers broader markets; Maybank's product is bank-linked nominee cash trading.
Step-by-step: how to open a stock brokerage account in Malaysia
Onboarding usually runs through these stages, from picking a broker to settling your first trade.
Seven stages: select broker, prepare identification, complete e-KYC, arrange custody, fund, place first order and monitor T+2 settlement.
Step 1: Decide whether you will buy Bursa shares, overseas shares or both
List the exchanges and instruments you want. Bursa company shares need a local custody route. US stocks need US trading permission, and London-listed UCITS ETFs need access to the London listing. Shariah investing adds instrument and service checks. The same ticker can mean different securities on different exchanges, so always confirm the exchange.
Step 2: Choose the broker and account type
Check the legal entity you're contracting with, how your shares will be held, the funding terms and any recurring fees. Save the disclosures and the transfer-out terms, as you'll need them if you ever switch brokers.
Step 3: Prepare your identification and bank details
Prepare a valid MyKad, bank-account evidence, mobile number, email and residential address. The broker may also ask about your income, source of funds or tax residency. Foreigners and permanent residents should contact an ADA about eligibility, as the Bursa Anywhere opening route is for MyKad holders only.
Step 4: Complete online registration and e-KYC
Electronic know-your-customer (e-KYC) checks can include ID images, a selfie or liveness check, declarations and an electronic signature. Answer source-of-funds and tax questions accurately. Clear images and matching bank details help you avoid follow-up requests.
Step 5: Open or link the CDS account
For direct CDS, apply through the broker or through Bursa Anywhere with an eligible ADA. For nominee custody, follow the broker's own onboarding; you won't need a separate personal CDS account. Check the opening charge and which account will receive your holdings.
Step 6: Fund and activate your trading account
Follow the broker's official FPX or transfer instructions, and check the beneficiary, reference and that the cash has cleared. Enable two-factor authentication (2FA) and verify your withdrawal account.
Step 7: Place your first stock order
Say you buy one normal board lot: 100 ordinary shares at RM 3 costs RM 300 before charges. Check the company name, ticker and exchange. The last traded price can differ from the current bid and ask, so the price you actually get may be different.
A buy limit order sets the highest price you will accept. Check whether quantity is entered in shares or lots, then review order validity and estimated charges. Orders move through submitted, partially filled and filled states. A limit order may never execute, and a cancellation only takes effect once it is confirmed for the unfilled amount.
Step 8: Track the trade, settlement and dividends
Bursa ordinary equities settle on T+2, two business days after the trade. Bursa's current trading-engine guidance treats any move in the settlement cycle as a separate initiative from its new trading engine. FSMOne's local transaction notes also specify T+2.
Review the contract note and your holdings. Your broker's payment deadlines and when cash becomes withdrawable follow their own rules, separate from the exchange cycle. Register eDividend details for direct holdings, or check how your nominee credits dividends, then watch for corporate-action notices.
Opening a direct CDS account using Bursa Anywhere
Bursa Anywhere lets eligible Malaysian individuals apply for a CDS account through their chosen ADA. You still need to complete the broker's trading-account process before you can trade.
- Download the official Bursa Anywhere app through Bursa's channels.
- Register and verify the requested contact and identity information.
- Choose the CDS account-opening service and an eligible ADA.
- Upload clear front/back MyKad images and bank-statement or passbook evidence.
- Complete the electronic application and pay the fee by FPX where required.
- Wait for ADA approval and confirmation, then finish the broker's trading onboarding.
The bank evidence should clearly show the bank and the account holder's details. Screen labels can change, so follow the current in-app instructions, and check any extra eligibility criteria from Bursa and the ADA before submitting.
How much does it cost to open and use a stock brokerage account?
Separate the opening charge, the charges on each trade and any ongoing service fees. A free account still comes with trading costs, and the instrument you buy matters as much as the broker.
Account-opening and ongoing fees
The standard CDS fee and what you pay can differ. Rakuten and Moomoo offer free CDS opening, while Maybank's cash product charges RM 10 plus RM 0.80 SST, totalling RM 10.80. Check for inactivity, transfer, custody, corporate-action, data and withdrawal charges as well.
Fees every time you trade Malaysian shares
Ordinary-share trades currently pay RM 1 stamp duty per RM 1,000 or part thereof, capped at RM 1,000. The SC's 2023 rate reduction and current broker schedules confirm the ordinary-share cap. The lower RM 200 cap applies to other instruments.
| Cost | What to include |
|---|---|
| Brokerage | Flat, percentage or minimum charge on purchases and sales |
| Platform fee | Separate order fee where the provider charges one |
| Clearing | 0.03% of transaction value, maximum RM 1,000 |
| Ordinary-share stamp duty | RM 1 per RM 1,000 or part; maximum RM 1,000 |
| SST | Applies to specified services for some instruments, not to the share purchase value |
| Other services | Assisted trades, transfers, corporate actions or other charges |
Source: Rakuten charges, Malaysian market fee schedule, FSMOne pricing and SC duty announcement (as of 10 October 2026)
Broker schedules apply 8% SST to specified services for instruments including ETFs, REITs, warrants and rights, rather than to every ordinary-share trade. Bursa-listed ETFs are currently exempt from stamp duty until 31 December 2028. REIT units have their own duty treatment, including the RM 200 cap.
Worked example: total cost of a RM 3,000 Bursa share purchase
Assume one ordinary-share order executed on one day, with no promotions or extra services. At this value, clearing is RM 3,000 × 0.03% = RM 0.90, and stamp duty is RM 3. Ordinary shares don't attract the instrument-specific SST described above.
| Fee model | Brokerage + platform | Clearing | Duty | Buy-side charges |
|---|---|---|---|---|
| Rakuten Trade | RM 2.88 | RM 0.90 | RM 3 | RM 6.78 |
| Moomoo | RM 0.90 + RM 3 | RM 0.90 | RM 3 | RM 7.80 |
| FSMOne | RM 8.80 minimum | RM 0.90 | RM 3 | RM 12.70 |
| Maybank cash product | RM 8 minimum | RM 0.90 | RM 3 | RM 11.90 |
Source: Rakuten, Malaysian market schedule, FSMOne and Maybank (as of 10 October 2026). Example only: a single ordinary-share order, excluding promotions and additional services. Your contract note shows the final total after rounding and amalgamation.
Including charges, you need RM 3,006.78, RM 3,007.80, RM 3,012.70 and RM 3,011.90 respectively to fund the purchase. If you later sell for the same RM 3,000 under the same fee model, you pay the charges again, so the round-trip costs come to RM 13.56, RM 15.60, RM 25.40 and RM 23.80.
RM3,000 ordinary-share purchase: buy-side charges of RM6.78 Rakuten, RM7.80 Moomoo, RM12.70 FSMOne and RM11.90 Maybank cash product.
An order filled across different days may incur different charges, and multiple orders interact with each provider's amalgamation rules. Check the contract note for the final total.
Why a RM 1,000 portfolio is sensitive to minimum commissions
On the same assumptions at RM 1,000, total buy charges are RM 4.18, RM 4.60, RM 10.10 and RM 9.30 respectively. That is 0.418%, 0.46%, 1.01% and 0.93% of the purchase. Frequent small trades pay these charges every time, before spreads or market losses, so think about how often you'll trade when you compare fee models.
How to open a brokerage account to buy US and other overseas shares from Malaysia
Check the foreign exchange, instrument, currency, custody and tax requirements before you fund the account.
Choose a broker that supports the exchange and security you actually want
Rakuten lists Bursa, US and Hong Kong access. FSMOne's pricing also covers Singapore, China and the UK. Moomoo and Webull MY are other platforms to look at for overseas investing; check their current permissions directly. Even with access to an exchange, specific ETFs or securities listed there may be unavailable.
Account onboarding and tax documentation
Eligible non-US individuals typically provide Form W-8BEN to establish foreign beneficial-owner status. IRS instructions describe the general 30% withholding framework for US-source income. Malaysia is absent from the IRS treaty list, so filing the form won't get a Malaysian tax resident a reduced treaty rate. The type of instrument and distribution can also change how it is taxed.
Compare conversion spreads, whether you can hold foreign-currency balances, and how withdrawals are converted. Ringgit movements change the RM value of a foreign holding even when its price in foreign currency stays the same. Keep records of funding, conversions and withholding.
Bursa CDS versus US share custody
Foreign holdings normally sit under foreign custody rather than your personal Bursa CDS account. Ask who holds them, how dividends and voting work, and which positions you can transfer out. Fractional positions can carry extra restrictions. Read the Malaysian service's own terms, as other countries' versions of the same app may work differently.
Can you open a Shariah-compliant stock trading account?
An Islamic share-trading service and a Shariah-screened security are related but separate questions. A Shariah tag in an app may cover the securities without covering every financing or trading facility.
Use the SC Shariah Advisory Council list effective 29 May 2026. The list is updated in May and November, and IPO status can need a separate check. Confirm each security's current classification and assess margin or other facilities separately.
Is a Malaysian stock brokerage account safe?
A regulated intermediary and a sound custody structure protect you against operational and conduct problems, but not against market losses. PIDM excludes stocks, shares and unit trusts from deposit insurance, including shares bought through a bank-linked broker.
PIDM protection for eligible bank deposits doesn't extend to securities, and broker cash balances may be treated differently from bank deposits. Any investor-compensation arrangement also has its own scope and conditions.
- Verify the legal entity and download the app through official channels.
- Match funding instructions, and refuse any request to send money to an individual's account.
- Enable 2FA and review contract notes and custody statements.
- Check how the agreement handles nominee assets, sub-custodians and insolvency.
- Treat guaranteed-return groups and impersonated support accounts as warning signs.
Common mistakes to avoid when opening your first trading account
Confirm your permissions and obligations before your first deposit.
- Registering on Bursa Anywhere but leaving trading onboarding incomplete.
- Activating margin or contra without understanding settlement and forced-sale terms.
- Comparing commission while ignoring minimum, platform and statutory charges.
- Assuming all nominee arrangements have identical IPO and AGM procedures.
- Using outdated fee caps, promotional rates or T+3 descriptions.
- Buying a concentrated position before deciding its role in your overall portfolio.
Stock brokerage account vs investing through ETFs or managed portfolios
An exchange-traded fund (ETF) is an investment vehicle, not an account type. You can buy ETFs through brokers or certain investment platforms. Decide how much research and portfolio maintenance you want to handle yourself.
| Route | What you control | Main work and trade-off |
|---|---|---|
| DIY company shares | Companies, position sizes and orders | Research businesses; concentration and trading costs |
| DIY ETFs | Funds, allocation and purchase timing | Compare holdings and expenses; diversification depends on selection |
| Managed ETF portfolios | Objectives and chosen risk mandate | Delegated allocation and rebalancing; management fees and market risk |
Source: StashAway ETF guide and StashAway robo-advisor guide (as of 10 October 2026)
StashAway ETF Explorer: choose individual ETFs
StashAway ETF Explorer gives you self-directed access to individual ETFs across 90+ global asset classes. You pick the ETFs and decide the allocation; ETF Explorer doesn't build or rebalance a multi-ETF portfolio for you.
Each buy or sell order costs US$1.99, excluding SST, and there is no ongoing management fee. StashAway's minimum monthly account fee of RM 5 applies across all your portfolios and ETF Explorer combined, and is waived for your first 6 months and in any month with a positive net deposit. Underlying fund expenses and the 0.35% currency-conversion spread are separate costs.
ETF Explorer suits investors who want to pick global ETFs themselves. It doesn't open a Bursa CDS account or give you access to individual Bursa company shares.
FAQs about opening a stock brokerage account in Malaysia
Can I open a stock brokerage account in Malaysia online?
Yes. Participating brokers offer online applications, usually with identity images and e-KYC checks. Eligible Malaysian MyKad holders can also apply for direct CDS through Bursa Anywhere, but you'll still need a separate trading account. Approval times vary by provider.
Do I need both a CDS and a trading account to buy Bursa shares?
Yes. The trading account places your orders, and the CDS arrangement records your Bursa holdings, as Bursa's opening guidance explains. With direct CDS, the shares are recorded in your name; with nominee custody, the broker holds them for you as beneficial owner.
What is the minimum age to open a stock trading account in Malaysia?
You must be at least 18 to apply for CDS. Brokers can add their own requirements for documents, source of funds or specific products such as margin and foreign trading.
How much does opening a CDS account cost in 2026?
The standard Bursa CDS opening fee is RM 10, but what you pay depends on the broker. Some absorb the fee, while others add service tax: Maybank's cash account, for example, charges RM 10.80 including SST.
Can I open a Bursa CDS account using Bursa Anywhere?
Yes, if you meet Bursa's eligibility rules for Malaysian MyKad holders, including the age requirement. You choose an eligible ADA, upload the documents and wait for ADA approval. Bursa Anywhere doesn't execute trades, so you'll also need to complete the broker's trading-account onboarding.
Can foreigners or permanent residents open a Malaysian brokerage account?
Possibly, but they need to go through a broker or ADA. Bursa directs non-Malaysians and permanent residents to an ADA, since its digital opening route is for MyKad holders only. Passport, address, banking and tax requirements vary, and each provider decides which applicants and markets it supports.
Can I open more than one CDS account with different brokers?
Yes. Bursa's standard rule allows CDS accounts with different ADAs, but not multiple CDS accounts with the same ADA. Opening a new account won't move your existing shares; that needs a separate transfer.
What is the difference between a direct CDS and a nominee account?
Direct CDS records securities in your own name. With a nominee account, the nominee holds them for you as beneficial owner and handles services through its own procedures. Custody guidance sets out how the two differ on dividends, voting, corporate actions and transfers.
Can I buy IPO shares through a nominee account?
It depends on the account, the prospectus and the application channel. Maybank's nominee cash product excludes IPO subscriptions, while Moomoo offers a separate direct CDS-IPO account alongside nominee trading. Check the product conditions and the rules for the specific issue.
Can I buy US stocks with a Malaysian trading account?
Yes, if the broker offers US access and approves your permissions. Your US shares will sit under the broker's foreign custody rather than your Bursa CDS account. Check that the specific security is available, and review the tax forms, FX costs and withdrawal process before funding.
How much money do I need to start buying Bursa Malaysia shares?
Enough for one board lot plus charges. Ordinary shares normally trade in 100-share lots, so 100 shares at RM 3 cost RM 300 before brokerage, clearing and stamp duty. Odd lots use a separate facility, and your broker may set its own funding conditions.
Is stock brokerage account opening free?
It can be. Some providers waive account or CDS opening fees, while others charge the CDS fee plus tax. You'll still pay trading costs, so read the current fee schedule, including maintenance, transfers and withdrawals, and tell promotional waivers apart from standard charges.
What fees will I pay when buying or selling Malaysian stocks?
Expect brokerage, any platform fee, clearing and stamp duty, on both purchases and sales. Current fee schedules treat ordinary shares differently from ETFs, REITs and warrants, including on SST. Minimum fees, rounding and amalgamation can all change the final contract-note total, so compare costs at the order size you actually plan to use.
Is it better to choose a cash upfront or margin account?
For most beginners, cash upfront is the simpler choice: you buy with your own money and avoid borrowing costs. Margin adds interest, collateral rules, margin calls and possible forced sales. Hold off on any financing facility until you fully understand what you're signing up for.
How long does it take for a Bursa stock trade to settle?
Two business days. Ordinary equities settle on T+2, and Bursa's current engine guidance treats any change to that cycle as separate from its trading-system upgrade. Your broker's funding deadline and when sale proceeds become withdrawable are set by the broker, so check before planning a bank withdrawal.
Are my shares protected by PIDM if my broker fails?
No. PIDM excludes stocks and shares from deposit insurance, even when you buy them through a bank-linked service. Broker custody safeguards and investor-compensation arrangements have their own conditions, so check how your assets and cash are held and what the agreement says about insolvency.
How do I know if a stockbroker is licensed in Malaysia?
Search the exact legal entity in the SC Investment Checker and check its status and authorised activity. Then compare the official contact details with the website or app you plan to use, since scammers can copy a licensed firm's name and logo. For direct CDS opening, also confirm the Bursa ADA.
Can I transfer shares from one brokerage account to another?
Usually, yes, though the supported securities, ownership details, custody route and fees all matter. Transfer guidance explains how direct and nominee transfers differ. Check both providers' requirements and fees first, as foreign holdings and fractional positions can have extra restrictions.
Can I open an Islamic stock trading account in Malaysia?
Yes, several providers offer Islamic brokerage services. Check each security against the SC's current Shariah classification, and assess financing and trading facilities separately, since a Shariah label on an app may not cover every facility. Review classifications after each update.
Do I pay tax on share dividends or gains in Malaysia?
It depends on whether you're investing personally or trading as a business, as the two are treated differently. LHDN's notes describe a 2% tax on chargeable dividend income where annual dividends exceed RM 100,000, from YA2025, subject to exemptions and computation rules. Foreign withholding and Malaysian treatment of foreign-source income are separate, so keep good records.
Start with the account terms, then place the first order
Choose the market, verify the legal entity and settle the custody and funding questions before applying. Work out the cost of your likely purchase and sale, not just the commission. Prepare your documents, get approved and test the funding route before placing a small first order. Keep the contract note and watch settlement and corporate actions. The account is just a tool: the holdings you choose, the concentration you accept and the costs you pay again and again are what shape your results.
