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iFAST unit offering US-listed securities dealing services
THE Singapore subsidiary of mainboard-listed iFAST Corporation Ltd is offering US-listed securities dealing services to investors, including stocks and Exchange Traded Funds (ETFs).
iFAST Financial Pte Ltd is doing so through the FSMOne account which comes under the company's business-to-consumer Fundsupermart platform.
"The addition of US stock/ETFs on FSMOne follows the introduction of stocks and ETFs listed on the Singapore Exchange (SGX) and Hong Kong Exchange (HKEX), and brings the total number of ETFs being offered on FSMOne to over 2,000," iFAST Corp said in a pre-market open filing on Friday.
Similar to the competitive pricing structure offered for SGX-listed and HKEX-listed stocks and ETFs, investors in Singapore can invest in US-listed stocks and ETFs at a commission fee of 0.08 per cent, subject to a minimum of US$8.80 per trade, the firm added.
Lim Chung Chun, CEO, iFAST Corp, said: "We hope to assist investors in Singapore who are seeking exposure to the world's largest securities market to do so at one of the lowest rates in the market, and not be hampered by prohibitive barriers of entry such as high account balances and transactional fees while seeking to diversify their portfolio."
iFAST Corp is an Internet-based investment products distribution platform, with assets under administration of about S$7.16 billion as at Sept 30, 2017.
On Thursday, it closed one Singapore cent lower, or 1.2 per cent, to S$0.85.