Will iFAST steal other brokers' lunch?
The impact of iFAST's discount brokerage service will depend on DIY investors
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SINGAPORE do-it-yourself (DIY) investors will have something to look forward to very soon with the imminent launch of a discount brokerage service by mainboard-listed iFAST Corporation.
The company's shares have surged to S$1.085, or 46 times earnings, defying brokers such as UOB Kay Hian which downgraded it last week after a strong rally.
Recently admitted as a trading member at Singapore Exchange (SGX) and a clearing member of The Central Depository (CDP), iFAST is expected to launch a Singapore stockbroking service soon with pricing similar to its aborted launch half a year ago.
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