iFAST Malaysia launches US and Hong Kong stockbroking services

Malaysia ringgit notesMalaysia ringgit notes

Wealth-management platform iFAST said Friday its Malaysia operation, iFAST Capital, launched trading services in U.S. and Hong Kong-listed securities, including both stocks and exchange-traded funds (ETFs).

The services will be available on iFAST Malaysia’s FSMOne.com, its business-to-consumer online multi-asset investment platform aimed at self-directed investors, iFAST said in a statement filing to SGX.

The new offerings followed iFAST Malaysia’s March introduction of trading in stocks and ETFs listed on Bursa Malaysia.

“This is in line with the group’s objective of providing a comprehensive wealth management platform in Malaysia, similar to the group’s other
core markets such as Singapore and Hong Kong,” iFAST said.

The commission fee will be 0.08 percent, or a minimum of US$8.80 (37 ringgit) or HK$50 (27 ringgit) for U.S.- and Hong Kong-listed securities, respectively, the filing said.