iFast's Malaysian unit launches stockbroking service

WEALTH management fintech platform iFast Corporation's wholly-owned Malaysian unit, iFast Capital Sdn Bhd, has announced the launch of its stocks and exchange-traded funds (ETFs) brokerage services on FSMOne.com in Malaysia.

FSMOne.com is iFast's business-to-consumer division.

The new range of services allows iFast Capital to provide its wealth management solutions under one platform. With a FSMOne.com Malaysia account, do-it-yourself investors can invest seamlessly in unit trusts, bonds, managed portfolios, insurance, stocks and ETFs listed on Bursa Malaysia.

iFast Capital was the first investment platform to become a participating organisation on Bursa since 2009.

In addition to the launch of stocks and ETFs in Malaysia, iFast Capital is also looking to broaden its markets to provide stocks and ETFs listed in the United States and Hong Kong markets in the near future so that investors can create a globally diversified portfolio.

The brokerage commission fee offered on FSMOne.com Malaysia is 0.05 per cent, with a minimum fee of RM8.80 (S$2.85). But for a period of one month from March 29, 2021, investors who trade in Bursa-listed stocks and ETFs can enjoy zero commission fee, it said.

iFast shares last closed at S$5.94, down S$0.08 on Friday.