Thread: what is the 'best' way of allocating memory, and what are the differences

Okay, the two major ways I know of allocating memory are:
Type *pPointer = new Type[NumberOfTypes];
and
pPointer = (Type*)malloc(sizeof(Type));

are there any pros, cons, major differences between the two? I ask because I would like to see something done the first way, but then turn around and do it the second way but achieve the same results