iFAST launches cheap retail trading service

Singapore

FUND distributor iFAST Corporation is gunning for a double-digit market share in retail stockbroking in three to five years, said chief executive officer Lim Chung Chun.

The company is launching its discount brokerage service for Singapore stocks today. While not expected to break even for a while, the service will bring in "incremental revenue" that will benefit iFAST's integrated wealth management strategy, Mr Lim told The Business Times.

Successful discount brokerages in many countries have a wealth managemen…