Jul 6 2021, 10:36 PM, updated 5y ago
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https://play.google.com/store/apps/details?id=my.com.midf.pdg
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https://apps.apple.com/my/app/midf-invest/id1547372377
https://www.theedgemarkets.com/article/midf...stocks-and-etfs
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MIDF Amanah Investment Bank Bhd today launched MIDF Invest, an online investment platform which allows Malaysian customers to trade US stocks and Exchange Traded Funds (ETFs).
The platform is offering free brokerage for all trades under US$1,000 (RM4,150), from July 6 until July 31, 2021.
MIDF group managing director Datuk Charon Wardini Mokhzani said the launch of the online trading platform is against the backdrop of growing interest in investing in other markets, particularly in the US stock markets, among Malaysian investors in recent years.
"This is driven by the need to diversify one's portfolio as well as the attractions of the high returns of the US markets, driven in part by the performance of technology companies. We have created this app because we believe that investing overseas should be made available and affordable for all," said Charon.
When asked about the brokerage fees after the promotion period ends, MIDF head of digital Khairi Shahrin Arief Baki was tight-lipped, but said that the group aims to attract more users to join its online trading platform by taking advantage of the current promotions for their investment.
"We will inform the users the details (about the brokerage fees) before the end of promotions, or sometime around end-July. The rates will be very competitive," Khairi told the press after the virtual launch.
Moving forward, Khairi said the group also plans to expand more overseas stock markets to allow its customers to trade in its online trading platform by the next three to 12 months.
Currently, the online trading platform will give Malaysians direct and secure access to US stocks and ETFs, particularly on the New York Stock Exchange and Nasdaq.
This product is delivered in partnership with Saxo Markets Asia Pacific. Saxo Markets is a licensed subsidiary of Saxo Bank, a well-regulated and industry-leading provider of investment services and technology.
The platform is offering free brokerage for all trades under US$1,000 (RM4,150), from July 6 until July 31, 2021.
MIDF group managing director Datuk Charon Wardini Mokhzani said the launch of the online trading platform is against the backdrop of growing interest in investing in other markets, particularly in the US stock markets, among Malaysian investors in recent years.
"This is driven by the need to diversify one's portfolio as well as the attractions of the high returns of the US markets, driven in part by the performance of technology companies. We have created this app because we believe that investing overseas should be made available and affordable for all," said Charon.
When asked about the brokerage fees after the promotion period ends, MIDF head of digital Khairi Shahrin Arief Baki was tight-lipped, but said that the group aims to attract more users to join its online trading platform by taking advantage of the current promotions for their investment.
"We will inform the users the details (about the brokerage fees) before the end of promotions, or sometime around end-July. The rates will be very competitive," Khairi told the press after the virtual launch.
Moving forward, Khairi said the group also plans to expand more overseas stock markets to allow its customers to trade in its online trading platform by the next three to 12 months.
Currently, the online trading platform will give Malaysians direct and secure access to US stocks and ETFs, particularly on the New York Stock Exchange and Nasdaq.
This product is delivered in partnership with Saxo Markets Asia Pacific. Saxo Markets is a licensed subsidiary of Saxo Bank, a well-regulated and industry-leading provider of investment services and technology.
This post has been edited by zacknistelrooy: Sep 21 2021, 07:06 PM
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