IFA to tap into unbanked markets in Asean


KUALA LUMPUR: In a bid to set itself apart from the other stock trading platforms, International Finance Asia (IFA) has been established to provide reasonable trading fees and education to enable informed trade decisions among its subscribers.

Launched yesterday, the IFA aims to tap into unbanked markets in the Asean region and enable the mass market to trade conveniently via its mobile and web platform.

Speaking after the launch yesterday, IFA CEO Boey Kwa Jian said the management team is currently in talks with its partners in Singapore and Thailand, to market IFA across Asean.

“The IFA collaborates with professional traders in the industry to provide seminars and conferences to educate IFA users.

“Our next target is to create a social community of traders through this platform, where retail investors can learn from one another.”

Such access to global markets would typically incur a premium trading fee and lengthy documentation process.

However, the IFA charges a reasonable brokerage fee rate of US$9.99 per trade or US$0.02 per share (whichever higher) with no minimum deposit, withdrawal fees or hidden charges.

It is estimated that local financial institutions are charging a minimum of US$22 per trade or a percentage basis of 0.7% to 0.8% per transaction, for global market trades.

Currently, IFA enables trading access across 10 stock exchanges such as SGX, HKEX, Shanghai Stock Exchange, JPX, London Stock Exchange, Australia Stock Exchange, Toronto Stock Exchange, EuroNext and Nasdaq.

“We have spent a good one and a half year building our trading solution and applying for our Securities License from Labuan Financial Securities Authority.

“Today, we are able to offer a seamless user experience at manageable costs.

“While trading of Malaysian equities is currently unavailable on IFA, we look to expand our offerings as we grow by adding on more stock exchanges on our platform going forward, ” said Boey.


IFA , Asean , unbanked , markets ,

   

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