“The new foreign players are giving the existing brokers a run for their money," says a market observer.
Competition in the online stock broking business in Malaysia has gone up a notch as foreign broker Nasdaq-listed Futu Holdings Ltd has been gaining traction following the launch of its investment plattorm called Moomoo in May last year.
The Hong-Kong based broker obtained the approval-in-principle for the Capital Markets Services Licence (CMSL) from the Securities Commission, allowing its Malaysian subsidiary to operate in the country.
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