KUALA LUMPUR: Webull Securities (Malaysia) Sdn Bhd, a unit of Nasdaq-listed Webull Corp, believes the company’s low-fee trading platform can attract more clients for their trading and investing activities.
Webull Securities chief executive officer Kenneth Chan remains confident that more people would flock over to the its trading platform, which enables them to trade US stocks, due to the low fees.
The company received its capital markets services licence back in April 2024 from the Securities Commission (SC) and, according to Chan, has been attracting investors, both young and old. He expects the customer acquisition momentum to sustain.
“Since our launch, we have seen a growth of new users here. We now have about 250,000 users in Malaysia on our platform.
“Trading volumes here (on the platform) are also healthy – with interest in both Bursa Malaysia and US-listed stocks. And 65% of our users are below 35 years old –with a strong appeal to the younger crowd when they start their investing journey,” Chan said at a recent Chinese New Year media luncheon.
“Some of our advantages include the low commission and the ability for people to trade fractional shares – it really helps people to start their trading journey,” he added.
Chan anticipates strong growth ahead with its low fees being a main pull factor to attract more clients. “We want to reach for the stars. There are about three million CDS accounts – and there is a market here.
“We are registered with the SC and our platform is secured for people to trade stocks, exchange traded funds and options.”
