moomoo Malaysia entered the Malaysian market in 2023 and now holds a significant share of the online brokerage market โ partly on price (0.03% for Bursa, the lowest among major platforms), partly on the breadth of markets it offers in one account.
This is a full review covering fees, the platforms, what you actually get access to, what the custody fee means in practice, and who should (and shouldn't) use moomoo.
What moomoo Malaysia Is
moomoo Malaysia is a wholly owned subsidiary of Futu Holdings (NASDAQ: FUTU) โ the same company that operates the Futu Bull platform in Hong Kong and China. Futu Holdings is listed on NASDAQ, audited by PwC, and has over 2 million paying clients globally.
In Malaysia, it holds a Capital Markets Services Licence from the Securities Commission (SC) and is a Participating Organisation of Bursa Malaysia.
Markets available:
- Bursa Malaysia (via CDS account)
- NYSE and NASDAQ (US stocks, ETFs, ADRs)
- HKEX (Hong Kong)
- SGX (Singapore)
- ASX (Australia โ custody, not direct exchange membership)
Fees in Full
Bursa Malaysia trades
- Brokerage: 0.03% per trade, minimum RM3
- Clearing fee: 0.03% per trade, maximum RM1,000 (this goes to Bursa, applies at all brokers)
- Stamp duty: RM1 per RM1,000 of contract value, maximum RM200
For a RM5,000 Bursa trade: brokerage = RM1.50, clearing = RM1.50, stamp duty โ RM5. Total โ RM8 per leg, RM16 round-trip.
Compare: Rakuten Trade charges RM8 minimum on the sell side and on buys above RM1,000/month. Tiger charges RM2.50 for the same trade size.
US stocks
- Brokerage: USD0.0049 per share, minimum USD0.99
- Platform fee: USD0.005 per share (exchange regulatory fee โ applies at all brokers)
- Currency conversion: MYR to USD via moomoo's internal FX. The spread is approximately 0.3โ0.5% โ competitive vs bank transfers
For a 50-share purchase of a USD20 stock (USD1,000 position): brokerage = USD0.99 (minimum), regulatory = USD0.25. Total โ USD1.24, or ~0.12% of the trade value.
Custody fee on foreign stocks
This is the fee most reviews understate. moomoo charges 0.03% per year on the market value of US (and other non-Bursa) stocks, with a minimum of USD1.20 per month.
What this means in practice:
| US portfolio value | Annual custody fee | |--------------------|--------------------| | Under USD4,800 (~RM22k) | USD14.40/year (minimum applies) | | USD10,000 (~RM47k) | USD30/year | | USD50,000 (~RM235k) | USD150/year | | USD100,000 (~RM470k) | USD300/year |
At higher portfolio values, 0.03%/year is negligible โ less than most US brokerage fees. At small portfolio sizes (under RM10k in US stocks), the monthly minimum means you're paying a flat RM6โ7/month regardless of activity.
Verdict: For investors holding RM20,000+ in US stocks, the custody fee is reasonable. For investors who want to dip into US ETFs with RM1,000โ2,000, it's an ongoing drag worth factoring in.
This fee does not apply to Bursa Malaysia stocks โ those sit in a CDS account and have no custody fee.
Platform
Mobile app
The moomoo app (iOS and Android) is one of the most feature-rich retail trading apps in Malaysia. Notable features:
- Level 2 market data โ full order book depth for US stocks (free with account)
- Paper trading โ simulate trades with virtual money before using real capital
- Options trading โ available for eligible accounts (US options)
- Earnings calendar, economic calendar โ integrated into the app
- moomoo community โ social feed with stock discussions, similar to Tiger's community feature
- Cash Plus โ earn a money market return on idle MYR cash (the rate changes; check current yield in app)
Web platform
moomoo has a full web trading platform at (moomoo.com) โ not mobile-only. This is a meaningful advantage over Tiger Brokers, which has no web trading as of April 2026.
The web platform supports charting with 40+ technical indicators, multi-chart layouts, and full order entry. Useful for investors who prefer a larger screen for analysis.
Account Opening
Opening takes under 15 minutes for most Malaysian applicants:
- Download the moomoo app โ sign up with email or phone
- Upload MyKad (front and back) โ biometric verification via selfie
- Fill in employment, financial background, investment experience questions (SC-mandated suitability)
- A CDS account is automatically opened in your name
- For US trading: sign the W-8BEN form (non-US person declaration) โ done in-app
Most accounts are approved within the same day. Some applications take up to 3 business days for manual review.
Minimum deposit: RM0. You fund when you're ready to trade.
Regulation and Safety
- Regulated by: Securities Commission (SC) Malaysia, Capital Markets Services Licence
- Bursa status: Participating Organisation
- CDS accounts: Opened at Bursa-registered CDS under your name โ stocks are yours, not commingled with moomoo's balance sheet
- US stocks: Held in custody via Futu's US entity, which is a FINRA-registered broker-dealer and SIPC member. SIPC protection covers up to USD500,000 in securities per account (USD250,000 cash sublimit) in the event of broker failure โ this is not investment loss protection, it's custodian failure protection
- Parent company: Futu Holdings (FUTU) โ NASDAQ-listed, audited by PwC, publishes quarterly earnings
What moomoo Doesn't Offer
- Unit trusts and EPF-investable funds โ not available (use Rakuten's RSP or a bank platform for this)
- Fixed deposits โ not a banking product
- Bonds or sukuk โ not available on the retail side
- Fractional US shares โ minimum 1 share per US trade (you cannot buy 0.5 shares of a high-priced stock)
- ISA or tax-advantaged account โ Malaysia does not have an ISA equivalent; all investment gains are subject to standard tax treatment (no CGT in Malaysia currently)
Who moomoo Malaysia Suits
Best fit:
- Investors who want Bursa + US market access in one account, without juggling two platforms
- Cost-sensitive active traders (0.03% Bursa is the best available rate for frequent Bursa trades)
- Investors who value advanced charting and Level 2 data
- Investors who hold over RM20k in US stocks (custody fee becomes proportionally small)
Less ideal:
- Investors who only want EPF-investable options or unit trusts
- Investors who want to start US exposure with very small amounts (USD1.20/month minimum custody fee)
- Investors who strongly prefer a simple, stripped-down interface โ the app is feature-rich, which can feel overwhelming
moomoo vs Tiger Brokers: Which to Choose?
Both offer Bursa + US markets. The differences that matter most:
| Factor | moomoo | Tiger Brokers | |--------|--------|---------------| | Bursa fee | 0.03% (min RM3) | 0.05% (min RM3) | | US stocks fee | USD0.0049/share (min USD0.99) | USD0.0049/share (min USD0.99) | | Web platform | โ Yes | โ No | | Level 2 data | โ Included | โ Included | | Paper trading | โ Yes | โ Yes | | Community feed | โ Yes | โ Strong social features | | Foreign stock custody fee | 0.03%/yr (min USD1.20/mo) | Different structure โ check Tiger T&C |
For most Bursa-heavy investors, moomoo's lower Bursa fee will add up to meaningful savings over time. For investors who trade primarily US/HK markets with large amounts, the custody fee difference is the more important variable โ check Tiger's current fee schedule and compare.
Bottom Line
moomoo Malaysia is the best-priced platform for Bursa Malaysia trading (0.03%) and one of two platforms (alongside Tiger) that gives Malaysian retail investors direct US stock access. The platform is more feature-rich than most competitors, with tools usually reserved for professional investors (Level 2 quotes, paper trading, options).
The custody fee on US stocks is real and worth calculating for your portfolio size before opening an account. For investors building a US position above RM20,000, it's a non-issue. For very small US portfolios, factor in RM6โ7/month regardless of trading activity.
For most Malaysian retail investors who want both local and international stock exposure on one platform, moomoo is the default recommendation.