Malaysia's MIDF To Launch Retail Digital Platform For U.S. Stocks

[setst777]

Malaysia's MIDF To Launch Retail Digital Platform For U.S. Stocks. Check it out.

Our own gomen launching retail patform to buy US shares.

Look for MIDF Invest in appstore n playstore

Edit: Had to say this after reading few of the comments. Guys, the point I want to put forward is the fact tht the gomen does in fact realised tht the people i.e me and you want better access to US/foreign markets. Yes it is true tht there are better rates out there but nvrtheless, it is a step forward for our backwater last place gomen to take an initiative. Frankly, the best would be for us to like perhaps point out how the app/process can be further improved. Instead of just writing comments on reddit. Reach out to them, write comments on the app/playstore bout what can be improved. Better yet, email them. No point telling this. I myself have three US broker (TDA. FreeTrade and Etrade), so i know the rates can be improved. All i want to say put your thoughts out there, let the MIDF know what u want. Thats all. Tq

 

[izzdan]

@setst777 Wow, this looks great. Just downloaded the app. Scanty information online though. Waiting for Dividendmagic to make a post on it

 

[setst777]

@izzdan It is supposed to be a secret as mentioned in Bloomberg. Spread the news around. Let them (MIDF) knows that we are watching and we want it

 

[izzdan]

@setst777 Wonder what are the Brokerage fees though

Edit:
0.4% or 5usd depending on which is higher

 

[iseymour]

@izzdan not very competitive seeing as Webull is commission free

 

[izzdan]

@iseymour I think the major selling point is the ease of use and that it is locally based. Fees definitely could be more competitive.

 

[iseymour]

@izzdan hoping they lower the fees and introduce options/futures and upgrade the UI

 

[izzdan]

@iseymour Definitely. It’s a start though. Hopefully the floodgates will open and we will much more local options

 

[nekiness]

@iseymour Wiring money to webull is expensive isn't it

 

[iseymour]

@nekiness 16 usd or something like that, withdrawing is like 45++ but if you plan on just keeping the funds there then its ideal

 

[joep222w]

@iseymour Is Webull a real broker or are they running CFDs?

 

[iseymour]

@joep222w Yea it's a legit broker. They have real shares and options too. They're regulated by SEC and all those financial institutions

 

[pronobis]

@setst777 Tldr Charon the chairman said the app is still in beta testing. Would be best to wait and observe the execution, layout and user experience, and fees charged.

Alternatively a friend of mine mentioned Rakuten MY is also opening to sell US stocks this year, (reportedly at Malaysian commission rates) so this initiative will not be the only option available! The Edge published it recently.

All these news are good avenues for retail investors to take charge of personal finance, gone are the days that we would be overreliant on traditional ways due to information mismatch gap

 

[brdonl01]

@setst777 Hope it supports fractional share. There aren't much options out there for a small investor like me :/

 

[nekiness]

@setst777 If it's not better than IBKR/TSG Global,what's the point?

 

[neobondjames]

@nekiness What are the TSG monthly fees? For buying and holding.

 

[hazelhope]

@neobondjames No monthly fees if your account >$2k.

 

[izzdan]

@hazelhope I think even if account

 

[hazelhope]

@izzdan The rule is either

 

[izzdan]

@hazelhope That’s strange. I have 100 dollars in it and opened it mid last year. I just checked and currently have 97usd.