Invest
iFAST: Why iFAST can afford free SGX trades
By Evergreen Investing  •  April 4, 2021
Why is iFAST cutting their SGX stockbroking fee to SGD8.80 fee for even a SGD1 million trade?  First, stockbroking is not the main business model of iFAST. Stockbroking transaction fees only made up 12.8% of their 2020 net revenue. iFAST is a diversified wealth management platform offering unit trusts, bonds and insurance products and they are focused on maximizing recurring income. Lower stockbroking fees may attract new users who may eventually end up buying other products such as unit trusts, bonds and insurance products which generate lucrative recurring fees such as trailer fees and platform fees. Second, lower stockbroking fees will feed the iFAST flywheel by attracting new users. More users => More assets under administration => more funds listing new products on iFAST platforms which will eventually attract more users Lastly, this move should help iFAST to win market share from Singapore stockbrokers who typically charge at least...
Read the full article
By Evergreen Investing
I have been investing over the last 8 years and felt inspired to start this blog after getting many questions from friends and family about dividend investing. The Evergreen Investing blog aims to prove that a portfolio of SGX income stocks can generate decent annual returns through dividends and capital gains over a 5 year period ...
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance