By LYDIA NATHAN
IFAST Capital Sdn Bhd has launched an online wealth management platform of its latest stocks and exchange-traded fund (ETF) brokerage service on FSMOne to provide a wide range of products to assist investors.
The platform will feature a do-it-yourself (DIY) service for investors to acquire unit trusts, direct bonds, managed portfolios and insurance, and gain convenient access to stocks and ETFs listed on Bursa Malaysia.
FSMOne Malaysia GM Wong Weiyi said the platform will have 607 funds and offer exposure to both domestic and foreign-based markets.
“Investors will be able to choose from asset classes such as bond funds, equity funds or balanced funds. They are also able to choose the geographical exposure, be it Malaysia, China, the US and globally. There will also be an option of sectoral funds like precious metals, energy or technology funds,” he noted in an email recently.
Wong said the company’s client base has grown to more than 100,000 active accounts as many took interest in stocks and ETFs due to the Covid-19 pandemic.
“We have always been pursuing the launch of our stock and ETF platform so as to make our investment product offerings more comprehensive for clients. It’s only recently that we have been granted the required licences to operate the platform in Malaysia,” he said.
Wong also said the platform will be the latest participating organisation to be onboard Bursa Malaysia since 2009.
The platform will also look to add value by providing in-depth research to enable investors to stay abreast of market happenings.
“We publish periodic articles and host events with fund managers to ensure our investors are always ready to make an informed decision in all sorts of market conditions,” Wong stated, adding that iFast’s platform is the first multi-asset digital investment platform in Malaysia.
He added that using the platform assures lower cost and convenience, but admits not all investors prefer that.
“An online platform would be suitable for most DIY investors as they would be able to access an online platform anytime at low commission. For example, our unit trust commission is between 0%-1.5%, purchasing from an agent could typically be between 3%-5%. In the stocks trading space, our normal commission fee of 0.05% would also be much lower than if someone deals through a remisier over the phone.”
“But not all investors like to DIY, so if the investors need help and advice, it may be worthwhile to pay a premium for the services of an agent,” Wong noted.
In addition to the launch of stocks and ETFs in Malaysia, iFAST Capital is looking to broadening its market to provide stocks and ETFs listed in the US and Hong Kong in the near future, which will allow investors to create a globally diversified portfolio.
It will also offer its new and existing investors a 0% commission for an entire month.