CMC Markets (LON: CMCX) announced today (Monday) the launch of its stock trading platform, CMC Invest, for investors based in Singapore and the broader Southeast Asia region. The full launch came after CMC allowed its CFDs clients to access the share trading platform earlier.
CMC Invest Launches in Singapore
CMC Invest was first launched in the United Kingdom last year in October. The platform is available for investors in Australia, and now the launch under the Singapore-based entity has pushed its reach further and to a fast-growing market.
“Our vision was to provide a platform that arms investors with comprehensive tools and insights to navigate the financial landscape, so they can achieve their financial goals,” said Christopher Forbes, the Head of CMC Invest (Singapore).
“In this saturated market, setting ourselves apart was not simply about pricing, but more about confronting the hidden expenses that have crept into the industry – from platform fees and settlement fees to inactivity costs – that erode investors’ capital and confidence. Our commitment to creating a platform that serves everyone is a source of great pride, and we are thrilled to unveil it today.”
An Aspiring ‘Super App’
CMC Invest Singapore has additional plans to offer wealth management and OTC options after gaining appropriate licenses, aiming to turn it into a ‘supper app’.
Currently, the platform offers trading with company stocks listed in 15 markets, including those in Singapore, Hong Kong, Canada, the United Kingdom, and the United States. For luring investors, the platform offers some commission-free trades, the number of which varies with market and account tier.
“What is especially pleasing is that we have leveraged off our existing global investment technology where we service major banks and institutional clients alongside our retail business,” said Peter Cruddas, the Founder and CEO of CMC Markets.
“Our aim is to drive down transactions costs and emulate our global success in Singapore and the Southeast Asian markets, using our Singapore hub to expand in the region. The launch of CMC Invest Singapore is a major step to expand in the region and serve our existing clients and a new generation of investors by giving them the tools, charts, and insights to make long-term investment decisions.”
