Malt uses the same ingredients as shakes. However, malts have an added malt favoring. They both are generally prepared by mixing the ingredients on a spindle mixer. Shake and malt have similar ingredients. Malt can be considered as a shake but with addition to the usual ingredients, it includes a malt flavoring. Shake is a frothy drink which contains ingredients like milk and syrup or milk and ice creams with some additional flavoring if required.