Webull Malaysia, a subsidiary of Webull Corporation, has introduced an Islamic banking channel.
The company claims to be the first fully online retail brokerage in the country to offer Shariah-compliant funding options for trading Malaysian and U.S. stocks.
This new feature allows investors to fund their trading accounts through methods that adhere to Islamic principles, providing a profit-sharing based banking facility with no deposit fees, interest charges, and enabling interest-free trading.
This move aims to cater to the increasing demand for ethical and Shariah-compliant investment options in Malaysia.
The platform now gives all investors the flexibility to fund their accounts through either Islamic or conventional banks.
Webull Malaysia has also improved its Shariah stock screener, allowing for the efficient identification and trading of Shariah-compliant equities and ETFs across both Malaysian and US markets.
They continue to focus on the needs of local investors, offering competitive features such as zero commission fees for the first 180 days of trading, competitive foreign exchange rates, and a fully integrated Bahasa Melayu interface.
The platform also provides a suite of trading tools, including charting tools, technical indicators, and analyst ratings, to support investors in their trading journey.
Investors can trade fractional shares starting from US$ 5 and access educational materials available in Bahasa Melayu.
Kenneth Chan, CEO, Webull Malaysia, said,
“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.”
