GREENWICH, Conn. - Tuesday, 27. August 2024 AETOSWire
Automatic FX Conversion Available Between Account Base Currency and Malaysian Ringgit
(BUSINESS WIRE)--Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, today announced that its clients can trade stocks on Bursa Malaysia, one of the largest stock exchanges in Southeast Asia. With this launch, IBKR clients can trade Malaysian Ringgit (MYR) denominated equities and ETFs alongside global stocks, options, futures, currencies, bonds, funds, and more from a single unified platform. To streamline trading, Interactive Brokers will also coordinate the necessary forex trade using an automatic FX conversion between the base currency selected in a client’s account and the Malaysian Ringgit.
Bursa Malaysia Securities Berhad is Malaysia's sole stock exchange. With a market cap of USD 380 billion, it is comprised of 970 listed companies across industries, including financial services, manufacturing and oil and gas. Introducing Malaysian-denominated equities products expands the breadth of global investment products available on the Interactive Brokers platform and offers IBKR clients new investment opportunities across Malaysia’s economy.
To create a straightforward trading process, Interactive Brokers will facilitate trades with an automatic FX conversion between a client’s base currency and the Malaysian Ringgit using a conversion rate determined based on the prevailing foreign exchange market rates. This eliminates the need for pre-trade currency conversions and simplifies the trading experience for clients.
David Friedland, Head of APAC at Interactive Brokers, commented, “Interactive Brokers offers clients worldwide superior market and product access, allowing them to create diversified portfolios across geographies and asset classes. Introducing stocks on the Bursa Malaysia allows our clients to add exposure to Malaysian equities with the benefit of having Interactive Brokers manage the cost associated with currency conversion.”
Interactive Brokers offers unparalleled global market access, advanced technology, and competitive pricing, empowering self-directed individual and institutional investors. Clients of Interactive Brokers can trade on 150 markets and fund and trade accounts in up to 27 currencies, including the Malaysian Ringgit. In addition to stocks on the Bursa Malaysia, clients can trade Crude Palm Oil Futures (FCPO) and FTSE Bursa Malaysia KLCI Futures (FKLI), giving them a wide range of investment opportunities.
For more information on trading stocks on the Bursa Malaysia, please visit:
US - Bursa Malaysia (and countries served by IB LLC)
Canada - Bursa Malaysia
United Kingdom - Bursa Malaysia
Europe - Bursa Malaysia
Hong Kong - Bursa Malaysia
Singapore - Bursa Malaysia
Australia - Bursa Malaysia
The Best Informed Investors Choose Interactive Brokers
About Interactive Brokers Group, Inc.:
Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities, and foreign exchange around the clock on over 150 markets in numerous countries and currencies, from a single unified platform to clients worldwide. We serve individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Interactive Brokers has consistently earned recognition as a top broker, garnering multiple awards and accolades from respected industry sources such as Barron’s, Investopedia, Stockbrokers.com, and many others.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240827374147/en/
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Contacts
Interactive Brokers Group, Inc.
Media: Katherine Ewert, media@ibkr.com