Learn MoomooMoomoo's FEP Declaration form and "Exchangeable 0.00" — why they appear and what they mean
Why Moomoo asks you to fill in an FEP Declaration before trading (many people first see it when buying their first US stock or setting up an RSP), what Bank Negara's FEP rules are (a RM1 million a year limit for those with domestic ringgit borrowing), which loans aren't counted, and why the Exchange screen shows Exchangeable Amount 0.00 MYR even when you have money.
Lots of people who want to buy their first US stock, or set up an RSP, suddenly see an FEP Declaration form. Others try to convert ringgit to USD first, but the Exchange screen says 0.00. Both come from the same rule: Bank Negara Malaysia’s Foreign Exchange Policy (FEP).
This page explains that rule in plain language, so you understand what’s being asked and don’t answer it wrongly.
What FEP is, and why Moomoo asks
Bank Negara has rules on how much Malaysian residents can invest in foreign-currency assets (for example American stocks and ETFs bought in USD). Licensed brokers like Moomoo must make sure their customers follow those rules, which is why there’s a declaration form.
According to Moomoo Malaysia’s official help pages, you need to complete the FEP declaration before trading, and a US stock RSP can fail with the reason “Insufficient foreign currency investment limit under the Malaysia Foreign Exchange Policy Notices”.
When the form appears
It usually appears in one of two situations. First, when you tap Buy on a US stock or ETF for the first time, the app shows an FEP Declaration popup with a Declare Now button. Second, if you missed that popup, your order shows as Failed, with a red notice below it asking you to declare your status under Malaysia’s FEP Notices. The order didn’t fail because you tapped something wrong. Moomoo just wants the form filled in first.
- Declare Now
- FEP not filled in
Once the form is submitted, place the order again. The screenshots above are from Daus’s audience (October 2026), with the account number blurred.
Bank Negara’s rules, in plain language
According to Bank Negara’s official site (FEP Notice effective 15 November 2024):
If you have NO domestic ringgit borrowing — you’re free to invest any amount in foreign-currency assets, in Malaysia or abroad.
If you DO have domestic ringgit borrowing — you can invest up to RM1 million per calendar year (January to December, for individuals) in foreign-currency assets funded by converting ringgit.
What counts as “domestic ringgit borrowing”?
The official meaning: any borrowing in ringgit taken by a Malaysian resident from a Malaysian resident. But there are important exclusions for individuals. These are NOT counted as borrowing for this purpose:
- Credit cards or charge cards used to pay for retail goods and services.
- Financing to buy one residential property and one vehicle.
So most people who only have one housing loan and one car loan are treated as having no domestic ringgit borrowing for FEP purposes. Other ringgit loans, for example a personal loan or a second housing loan, usually count, and the RM1 million a year limit applies. Have PTPTN or another loan and not sure whether it counts? Ask Moomoo customer service before you tap Submit.
The RM1 million a year limit only applies if you have domestic ringgit borrowing, and it’s far bigger than what most beginners invest. But answer the form honestly, because it’s an official declaration.
This explanation summarises Bank Negara’s official site so you understand the context. For your own case, especially if you have business borrowing or other foreign assets outside Moomoo, ask Moomoo customer service before you tap Submit. Official reference: Bank Negara’s FEP page (bnm.gov.my/fep).
The questions on the form, one by one
This is the actual form, from a screenshot sent by Daus’s audience (5 Oct 2026). It asks three things, then asks you to tick an acknowledgement box and tap Submit. The wording and order may change between app versions.
- Residency
- Borrowing
- Assets outside Moomoo
- Acknowledge
1. Residency. If you’re a Malaysian citizen or permanent resident living in Malaysia, you’re usually a resident for FEP purposes. If you live and work abroad, or you’re a foreigner, ask customer service before answering.
2. Do you have Domestic Ringgit Borrowing? Use the list above. One house loan, one car loan, and a credit card used for retail spending don’t count. A personal loan, a second house loan, or other financing in your name does.
3. How much you invest in foreign-currency assets outside Moomoo. For example US shares or ETFs held at another broker, or a foreign-currency bank account. This mainly matters if you have domestic ringgit borrowing, because the RM1 million yearly limit counts across all of them. If you have none, answer as things actually stand.
4. The acknowledgement box. Tick I acknowledge the risks involved, and have read and agree to the Foreign Exchange Policy, then tap Submit.
The line at the top of the form itself says the FEP declaration must be refreshed at least once a year, so it’s made once a year, and a US order or RSP can fail with a message asking you to declare your status under Malaysia’s FEP Notices if it hasn’t been filled in. Answer honestly, because this is an official declaration to a licensed broker.
Exchangeable Amount 0.00: this isn’t an account problem
Many people think something is wrong with their account when they see this screen. In fact it’s normal.
- Exchangeable Amount 0.00
- Official tips in the app
The official tips on that screen itself say: “Conversion of Ringgit Malaysia to foreign currencies is only permitted following a filled buy order denominated in the relevant foreign currency.” That means ringgit can only be converted to USD after you have a US stock buy order that has filled, and only up to the size of that order.
So the right way:
- Don’t convert first. Just buy US stocks or ETFs with the ringgit in your account.
- Moomoo uses your ringgit and converts it to USD itself at settlement.
- If your order is bigger than the ringgit you have, the shortfall becomes a margin loan. So make sure you have enough cash.
Under Bank Negara's FEP rules (as Moomoo applies them), ringgit can only be converted to a foreign currency after a buy order in that currency has filled. So the Exchange screen shows Exchangeable Amount 0.00 MYR even when you have ringgit. Just buy the US stock with your ringgit; Moomoo converts it at settlement. Converting USD back to MYR is allowed (Accounts → Exchange).
Margin is switched on by default. If an order costs more than your cash, Moomoo covers the gap with a ringgit loan at 6.8% a year. Before you tap Buy, check Max Qty to Buy (Cash) — that is cash only. Plain Max Qty to Buy includes borrowing. How to check and switch it off: Margin in Moomoo.
The “Currency Exchange” popup when buying US stocks
Some people see a Currency Exchange popup when they tap Buy on a US stock. It reads: “Your order amount exceeds your cash buying power. To proceed, 1 share(s) will be bought using Ringgit currency exchange.” In other words, you don’t have enough USD cash, so Moomoo will use your ringgit and convert it to pay for the order. Tapping Confirm means you agree. It isn’t a separate manual conversion, and it isn’t an error.
Make sure you really have enough ringgit cash for the order. If not, the shortfall becomes a margin loan (see the margin box above).
If you’re still stuck
If your FEP form is rejected, an RSP fails because of the FEP limit, or you’re not sure about your borrowing status, contact Moomoo customer service and show them a screenshot. The fastest way to reach a staff member is in the contact support tutorial. Daus can’t decide Bank Negara limits or approvals for you.
This content is educational sharing, not financial or legal advice.
Still stuck? WhatsApp Daus.
Send a screenshot of the screen you see. Daus will help you read it and tell you the next step, for free. Daus will never ask for your password, OTP or PIN.
WhatsApp Daus: +60 11-2344 3917