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KUALA LUMPUR, Malaysia, Nov. 21, 2024 /PRNewswire/ -- Webull Securities (Malaysia) Sdn. Bhd. ("Webull Malaysia"), a subsidiary of Webull Corporation, owner of the popular Webull digital investment platform with over 40 million downloads globally, today announced the launch of an Islamic banking channel. This new feature offers local investors the flexibility to choose to fund their Webull trading accounts via an Islamic bank or a conventional bank, making Webull Malaysia the first fully online retail brokerage platform in the country to offer such a service.
The dual banking gateway provides both Muslim and non-Muslim investors with a seamless and flexible currency exchange and deposit system. For those seeking to fund their trading accounts with Shariah-compliant funding options, this new feature, together with zero deposit fees, interest-free and a profit-sharing based banking facility, will enhance their overall trading experience.
Meeting the needs of local investors
Webull Malaysia's new Islamic banking channel aims to cater to the diverse needs of local investors, especially investors who are looking to invest in Shariah compliant equities and exchange traded funds (ETFs) across both the Malaysian and U.S. stock markets. Furthermore, the existing Shariah indicator for U.S. stocks and ETFs will improve the overall investor experience by making it easier and more efficient to access and trade Shariah-compliant assets on the Webull platform.
Kenneth Chan, CEO, Webull Malaysia, said, "We are proud to be the first fully online retail brokerage platform in Malaysia to offer local investors the flexibility to fund their trading accounts with an Islamic bank. The introduction of the Islamic banking channel along with improvements to the Shariah stock screener, enables investors to fund their trading accounts in a way that best aligns with their investment needs and principles. By offering local investors the option to choose between Islamic and conventional bank funding for their Webull accounts, we aim to deliver inclusive, seamless and accessible trading experiences for all investors. We are also committed to enhancing the experience of local investors by offering a fully localised version of the Webull MY trading app. This feature allows users to translate all content -- from portfolio displays to the latest local and international news, as well as the educational materials provided - into Bahasa Melayu, ensuring an accessible and tailored experience for our Malaysian users. We are proud to support the needs of Malaysia's investment community and remain committed to developing innovative products that enhance convenience and accessibility for investors."
Key product highlights
With this latest dual banking feature, Webull Malaysia aims to strengthen its position as one of the top fully online retail brokerage platforms in Malaysia, offering investors products and services tailored to meet the unique needs of local investors.
On the Webull platform, Malaysian investors will be able to:
1. Maximise their investments with transparent, low and competitive trading costs on Malaysian and U.S. stocks
- Local investors can trade Malaysian and U.S. markets with zero commission fees for the first 180 days, reducing the barriers to market entry into both Bursa Malaysia and U.S. markets. Additionally, Webull Malaysia's zero platform fees make it a cost-effective choice for investors looking to trade stocks in both Malaysian and U.S. markets.
- Webull Malaysia offers competitive foreign exchange rates, allowing investors to benefit from FX rate fluctuations and minimising the cost of currency conversion when trading in USD-denominated markets.
2. Features to support the needs and financial goals of local investors
- With the new Islamic banking channel, local investors can choose to fund their trading account with an Islamic bank in Malaysia.
- Local investors funding their trading account with an Islamic bank will be part of a profit-sharing based banking facility.
- Shariah indicators made available to screen U.S. stocks and ETFs for easy access to Shariah-compliant assets.
- To ensure that Webull's platform is accessible to native speakers in Malaysia, Webull Malaysia has fully integrated Bahasa Melayu into its platform interface, creating a more comfortable and user-friendly trading environment for all investors.
In addition to the new Islamic banking channel, Webull Malaysia currently offers investors a suite of professional trading tools, including over 17 charting tools and more than 58 technical indicators. The platform also provides timely and professional analyst ratings on various equities, helping investors refine their investment strategies and analysis. With Webull Malaysia's user-friendly interface, investors of all levels can trade and own fractional shares starting from just USD 5.
Looking ahead, Webull Malaysia will continue to develop new products and enhance its products and services to meet the needs of local investors, empowering both new and experienced investors to capitalise on global market opportunities through a platform that aligns with their financial values and goals.
To learn more about Webull's products and services, please visit the website: https://www.webull.com.my/
Media contact:
Cognito for Webull
[email protected]
About Webull:
Webull is a leading digital investment platform built on next generation global infrastructure. The Webull Group operates in 15 regions globally and is backed by private equity investors located in the United States, Europe and Asia. Webull serves more than 20 million registered users globally, providing retail investors with 24/7 access to global financial markets. Users can put investment strategies to work by trading global stocks, ETFs, options, futures and fractional shares, through Webull's trading platform, which seamlessly integrates market data and information, its user community, and investor education resources. Learn more at https://www.webullcorp.com/.
