30 Jul - 3 min read
FSMOne customers will now be able to trade United States (US) and Hong Kong (HK) stocks and exchange traded funds (ETFs) on the online investment platform. This is following the launch of FSMOne’s stockbroking services for US and HK-listed securities for the Malaysian market today.
“The addition of US and Hong Kong stocks on FSMOne follows the introduction of Bursa Malaysia stocks and ETFs in March 2021, providing investors with access to the world’s largest securities market, i.e. US securities and additional exchanges (NASDAQ, NYSE, AMEX, BATS, HKEX), as well as increase the number of ETFs being offered on FSMOne,” the platform noted in the announcement post on its official website.
Aside from enabling access to these long-awaited markets, FSMOne also stated that it offers the service at a low fee – in fact, “one of the lowest fees in town”. Investors will be charged a minimal 0.08% processing fee to trade, subject to a minimum of US$8.80 or HK$50 per trade.
In launching the new service, the general manager of FSMOne Malaysia, Wong Weiyi said that FSMOne seeks to address some of the pain points that the public would encounter when trading foreign shares. These include high brokerage fees – which range from 0.2% to 0.8% – as well as additional fees associated with foreign exchange rates.
Wong also commented that the rollout of the US/HK stockbroking service at this time is apt as he believes that it is beneficial for Malaysian investors to hold overseas investment during the ongoing Covid-19 pandemic.
“Most Malaysians would have a portfolio which is locally biased, with a lot more local equities and exposure. However, if we look at how the Covid crisis is transpiring globally, it seems clear that the developed nations will emerge out of the crisis faster. In fact, in the US, they do not have the kind of movement restrictions that we are currently going through. As such, the pace of recovery for these developed nations will definitely be faster, and they have more flexibility for further fiscal stimulus,” said Wong, who also highlighted China’s resilience as an economic powerhouse despite recent sharp corrections made to its market.
If you’re interested in checking out FSMOne’s newly launched US/HK stocks and ETFs, you could also tap into an introductory offer that is meant to celebrate the launch. Starting from today until 30 August 2021, FSMOne is offering RM100 worth of selected RHB equity funds to the first 1,000 investors who carry out a successful trade in US or Hong Kong stocks and ETFs. The RHB equity funds on offer include RHB i-Global Sustainable Disruptors (MYR Hedged) or RHB Big Cap China Enterprise Fund.
You can find out more about FSMOne’s US/HK stockbroking services and the introductory offer on its website.
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