KUALA LUMPUR: MIDF Amanah Investment Bank Bhd has today unveiled its online investment platform, MIDF Invest, to give Malaysians direct and secure access to stocks and ETFs listed on the New York Stock Exchange (NYSE) and Nasdaq at competitive rates.
Malaysian Industrial Development Finance Bhd (MIDF) group managing director Datuk Charon Wardini Mokhzani said in recent years, the bank had seen a growing interest in investing in other markets, particularly into the US stock markets, as investors were getting more sophisticated.
"This is driven by the need to diversify one's portfolio as well as the attractions of the high returns of the US markets, driven in part by the performance of technology companies.
"We have created this app because we believe that investing overseas should be made available and affordable for all," he told reporters at the virtual launching ceremony today.
MIDF Invest app provides tutorials and research for the novice, charting and other powerful trading tools for the advanced user, and simplifies fund transfers to and from the investor's Malaysian bank account.
Users can open an Islamic account and invest in the large universe of Shariah-compliant shares (such as Apple, Alphabet, Facebook and Tesla) and ETFs listed on the NYSE and Nasdaq.
MIDF said from July 6 to July 31, MIDF Invest was offering free brokerage for all trades under US$1,000.
This product is delivered in partnership with Saxo Markets Asia Pacific.
Saxo Markets is a licenced subsidiary of Saxo Bank, a well-regulated and industry-leading provider of investment services and technology.
MIDF is wholly-owned by Permodalan Nasional Bhd.