FSMOne today launched its latest offering to the Malaysian market, allowing the investing public to trade US and Hong Kong securities conveniently via its multi-asset platform. In conjunction with the launch, FSMOne also announced that it offers the lowest brokerage fee in the market for retail traders at only 0.08%, paving way for the growing retail segment to be as competitive as institutional players in the market.
Wong Weiyi, general manager of FSMOne Malaysia said that customer service is on the top of their list of priorities with the platform aiming to make account opening swift and handy to all Malaysians.
“Our brokerage fees are set at 0.08% or a minimum charge of US$8.80 (RM37) to trade US securities and HK$50 (RM27) to trade Hong Kong securities, which is the lowest in the market in Malaysia. The platform is designed to allow greater interaction and ease of use,” he said.
iFAST Capital, the company behind FSMOne, whose vision is to serve retail traders in the Southeast Asian region, is licensed by the Malaysian Securities Commission and Bursa Malaysia. Investors do not have to worry about the safety of their investments in FSMOne. The platform also prides itself to provide extended hours phone support for all its stakeholders up to 10.30pm during business days.
“By extending the support hours, it takes away the concerns of a retail trader and provides them the assurance of assistance they would receive, at the opening bell’s ring. FSMOne service is affordable, transparent and adopts straightforward fee structure, which means no minimum deposit or fees,” added Wong during a virtual press conference.
Conventional account opening requires numerous physical paperwork and may take up to a week of internal processing before it is operational. FSMOne allows online account registrations and account approval in mere hours. Funding of accounts can be done in Ringgit Malaysia (MYR) via FPX to be converted at competitive forex (FX) rates to USD or HKD.
“Our seamless process eases account opening and currency exchange to fund the account. A new trader can get started in less than one working day. FSMOne is a multi-asset digital investment platform. We also offer research commentaries covering ETFs, which is a feature that is unique to us at the present moment,” Wong explained.
The Covid-19 pandemic forced Malaysians to look for an alternative source of income, hence registrations increased by 125% in 2020 for Central Depository System (CDS) accounts as reported on local media, demanded the industry to switch to be fully digital.
FSMOne also provides support to investors by publishing research articles and organising webinar sessions to keep investors abreast on current market trends. This is done to ensure accurate information is provided to investors to assist in making informed trading decisions.