JF Apex wants more youth & foreigners to e-trade on Malaysian market
Malaysian brokerage JF Apex Securities Bhd is making a big push to promote online trading in new areas, saying it will target young Malaysians and overseas customers as part of its plans boost income and reinvigorate activity on the local stock market.
Today it launched “eTrade on the Go”, a new program aimed at younger customers and offering a laptop and broadband internet access for 24 months to online traders. It will also go on a roadshow to promote its online trading service, available since 2001, to attract new e-traders and re-activate some of its customers who have fallen quiet over the years. Of 20,000, 16,500 are active users and JF Apex would like to double its total to 40,000.
The company says e-trading makes up 30% of its bottom line and it would like to increase that markedly. Possible changes to brokerage fees in Malaysia would make online activity more attractive and JF Apex was also in talks with brokerages in Hong Kong, Singapore and Thailand about possible tie-ups and building a customer base outside Malaysia.
Bursa Malaysia CEO Yusli Mohamed Yusoff said investors on Malaysia’s market were aging rapidly, suggesting younger people were avoiding the stock market due to risk, complexity and expense. Programs like eTrade on the Go would encourage education and understanding among the next generation, who should understand that capital markets offer opportunities regardless of current conditions.
sources & articles: Bernama and Business Times
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