E*TRADE is unavailable in Malaysia, as it primarily focuses on the US market, offering its investment services to US residents and citizens.
We contacted customer support, and the response regarding the possibility of opening an account from Malaysia was negative. Therefore, if you are a Malaysian resident, you will not be able to open an account with E*TRADE.
Is E*TRADE coming to Malaysia?
As our team has confirmed, there are no expansion plans into other markets. E*TRADE has been part of Morgan Stanley since October 2020 and operates as “E*TRADE from Morgan Stanley”, serving US clients only.
E*TRADE alternatives in Malaysia
The good news is that Malaysian investors have plenty of other options that offer similar or even better tools for investing, often at a lower cost. Given that, here are our suggestions (fees and entities checked in September 2026):
- Interactive Brokers
Interactive Brokers offers a comprehensive range of trading platforms. Its flagship platform, Trader Workstation (TWS), is an advanced desktop platform designed for active investors who trade several products, complemented by IBKR Desktop, the web-based Client Portal and the IBKR Mobile app. Additionally, IBKR provides an easy-to-use mobile app called IBKR GlobalTrader. - Moomoo Malaysia
Moomoo Securities Malaysia is licensed by the Securities Commission Malaysia and is a Participating Organisation of Bursa Malaysia, so it is the closest thing to a locally regulated E*TRADE alternative: one app for Bursa Malaysia, US, Hong Kong, Singapore and China A-shares, with low flat fees and free Level 2 US market data. - Saxo
Saxo offers a range of trading platforms suitable for different needs. From the simple and fast SaxoInvestor platform to the award-winning SaxoTraderGO and the fully customisable SaxoTraderPRO, you can access powerful trading tools tailored to your preferences. - XTB
XTB is a reputable online broker known for its xStation 5 trading platform, available on the web, desktop and mobile. It provides an intuitive interface with access to advanced tools and customisation options, and Malaysian clients can trade real stocks and ETFs as well as CFDs.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70-80% of retail CFD accounts lose money when trading with XTB’s entities. - Pepperstone
Pepperstone is a popular CFD broker that offers several trading platforms such as TradingView, MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader, well suited to algorithmic and copy trading features that allow users to replicate the strategies of other traders automatically.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.6% of retail investor accounts lose money when trading CFDs with this provider.
E*TRADE alternatives in Malaysia compared
| Broker | Minimum deposit | Products | US stock fees | Regulators |
| Interactive Brokers | $0 | Stocks, ETFs, options, futures, forex, commodities, bonds and funds | $0.005 per share (min. $1) on the Fixed plan; $0.0005 to $0.0035 per share (min. $0.35) on the Tiered plan | SEC, FINRA, CFTC, SIPC, CIRO, FCA, CBI, ASIC, SFC, MAS, CBH (not licensed in Malaysia) |
| Moomoo Malaysia | RM0 | Stocks, ETFs and REITs on Bursa Malaysia, US, Hong Kong, Singapore and China; US options | 0.03% of trade value + $0.99 platform fee per order (commission waived for 180 days for new clients) | Securities Commission Malaysia (CMSL eCMSL/A0397/2024) |
| Saxo | $0 (Classic tier, can vary by country) | Stocks, ETFs, bonds, mutual funds, options, futures, forex and CFDs on indices, commodities and forex | Classic: 0.08% (min. $1); Platinum: 0.05% (min. $1); VIP: 0.03% (min. $1) | Danish FSA, FCA, MAS, FINMA, ASIC and DFSA (not licensed in Malaysia) |
| XTB | $0 | Stocks, ETFs and CFDs on indices, commodities, forex and cryptocurrencies | 0% commission up to $100,000 of monthly turnover, then 0.2% (min. $10) | FSC Belize (XTB International, serving Malaysian clients); group entities regulated by the FCA, KNF, CySEC and DFSA |
| Pepperstone | $0 | CFDs on stocks, ETFs, forex, indices, commodities and cryptocurrencies | $0.02 per share per side for CFDs on US stocks | SCB (Bahamas, serving Malaysian clients); group entities regulated by ASIC, FCA, CySEC, BaFin and DFSA |
Malaysian residents opening an account with Interactive Brokers, Saxo, XTB or Pepperstone are onboarded by these brokers’ foreign entities, since none of them holds a Capital Markets Services Licence from the Securities Commission Malaysia. Their client protection therefore comes from the foreign regulator and compensation scheme of the entity you sign up with (for example SIPC for securities held at Interactive Brokers LLC), not from Malaysia’s Capital Market Compensation Fund.
Interactive Brokers at a glance
Interactive Brokers has proven to be one of the most reliable brokers in the market. The company, which accepts Malaysian residents, was founded in 1978 and has survived many financial crises, making it a well-established and trustworthy broker regulated by many top-tier regulators.
Due to its sophisticated and powerful tools, the wide range of products available for trading and its low prices, Interactive Brokers normally attracts advanced traders. Additionally, the mobile app IBKR GlobalTrader is user-friendly and more suitable for beginners, simplifying investments without losing the powerful tools for which the broker is famous.
Interactive Brokers offers attractive features such as low commissions on US stocks, a demo account for practising investments, interest on uninvested cash and a wide range of tradable assets, including Bursa Malaysia.
Interactive Brokers is not licensed by the Securities Commission Malaysia: Malaysian residents are onboarded by one of IBKR’s foreign entities, and their securities are held with Interactive Brokers LLC in the US, which is regulated by the SEC and a member of FINRA and SIPC (protection of up to $500,000, including $250,000 in cash). Client assets are segregated from the broker’s own funds.
If you want to know more about this platform, please check our Interactive Brokers review!
Moomoo Malaysia at a glance
Moomoo Malaysia launched in February 2024 and passed one million Malaysian users in 2025. It is operated by Moomoo Securities Malaysia Sdn. Bhd., a subsidiary of Nasdaq-listed Futu Holdings, which holds a Capital Markets Services Licence from the Securities Commission Malaysia and is a Participating Organisation of Bursa Malaysia.
The app gives you Bursa Malaysia, US, Hong Kong, Singapore and China A-shares in one account, with free Level 2 market data for US stocks, paper trading, a stock screener and a community feed. Your Malaysian shares sit in a CDS account in your own name, and eligible Malaysian securities are covered by the Capital Market Compensation Fund up to RM100,000. US shares are held in custody with Futu’s US broker-dealer, a FINRA member covered by SIPC.
Fees are a flat 0.03% commission plus a platform fee of $0.99 per US order or RM3 per Bursa order, and new clients pay no commission for the first 180 days. The main drawbacks are the narrower product range compared to Interactive Brokers or Saxo (no bonds, mutual funds or European exchanges) and the relatively short local track record.
Saxo at a glance
62% of retail CFD accounts lose money.
Saxo Bank is a Danish bank founded in 1992 and, since 2025, part of the Swiss private banking group J. Safra Sarasin. It accepts Malaysian residents and is a reliable option for advanced traders and beginners, providing safety, fair prices and useful tools.
This brokerage offers a wide range of investment products from more than 50 different exchanges (including Bursa Malaysia), high-quality educational resources and well-designed, comprehensive trading platforms. In particular, the SaxoInvestor app and the web-based SaxoTraderGO are user-friendly and functional applications, ideal for beginners. In the applications, it is possible to practise investments in demo accounts.
Saxo is not licensed by the Securities Commission Malaysia: Malaysian clients are typically onboarded by Saxo Capital Markets in Singapore, regulated by the Monetary Authority of Singapore (MAS), and the group’s other entities are regulated by the Danish FSA, the FCA, FINMA, ASIC and the DFSA. Client assets are segregated from Saxo’s own funds.
If you want to learn more about the broker, check our Saxo Bank review!
XTB at a glance
69-80% of retail CFD accounts lose money.
XTB is a company founded in 2002 in Poland and listed on the Warsaw Stock Exchange since 2016. It serves Malaysian residents through XTB International Limited, its Belize-based subsidiary, which is regulated by the Financial Services Commission of Belize. The group is licensed in many different jurisdictions and its other entities are regulated by top-tier authorities such as the FCA in the UK and the KNF in Poland.
Malaysian clients of XTB can invest in real stocks and ETFs from the US and Europe, with no commission up to $100,000 of monthly turnover, as well as trade CFDs on forex, equities, indices, crypto and commodities. CFDs are riskier and more complex instruments that should only be used by experienced traders.
With a wide range of investment options and a well-built interface, XTB is a reliable alternative to E*TRADE for beginners and advanced traders in Malaysia. It’s a very cheap platform with low fees and no minimum deposit, but keep in mind that the Belize entity offers less investor protection than XTB’s EU and UK entities. If you want to learn more about the broker, check our XTB review!
Pepperstone at a glance
72-95% of retail CFD accounts lose money.
Pepperstone is an Australian brokerage company founded in 2010 and regulated by many top-tier authorities such as the FCA and ASIC. Malaysian clients are served by Pepperstone Markets Limited, regulated by the Securities Commission of The Bahamas. The broker allows you to trade on popular platforms such as TradingView, MetaTrader 4 and 5 and cTrader, available for iOS, Android and Windows, alongside its own Pepperstone platform.
The company also supports copy trading through platforms such as DupliTrade, where you can automate your trading by copying the strategies of other traders, and offers a demo account to practise.
Pepperstone, unlike the other brokers on this list, is purely a CFD broker: you can trade CFDs on stocks, ETFs, forex, indices, commodities and cryptocurrencies, but you cannot buy the underlying shares. CFDs are leveraged products and most retail clients lose money trading them.
Which platform should you choose?
Some factors you should consider when choosing an online broker are the fees charged, whether it is licensed by the Securities Commission Malaysia or by a top-tier foreign regulator, the investor protection that comes with that entity, and the range of products it allows you to trade, among others.
The best online broker in your specific case will depend on your profile, preferences and objectives. If you want a locally licensed broker with Bursa Malaysia and US stocks in one app, Moomoo Malaysia is the natural choice. If you want the widest global market access, Interactive Brokers or Saxo are the better fit. Explore the websites above and decide for yourself!
A reminder that the above should not be seen as investment advice and should be considered information only. Investors should do their own research and due diligence about the best-suited services and opportunities for their risk, return and impact strategy.
