CMC Invest gets in-principle approval to launch shares, ETFs, futures, and options in Singapore

Rick Steves

“This announcement is a major milestone and validation for CMC Markets. Our business has been offering CFDs in Singapore since 2007, but the Capital Markets Services Licence for CMSI will allow us to serve our clients with more robust investment products, including shares and ETFs.”

CMC Markets has received a regulatory in-principle approval from the Monetary Authority of Singapore for a capital markets services license (CMSL) to offer online and mobile trading of globally listed shares, exchange-traded funds, futures, and options.

The Singapore subsidiary entity, CMC Markets Singapore Invest Pte. Ltd., is expected to soft-launch CMC Invest at the end of 1Q 2023, offering a multi-product single platform to clients to trade international and local stocks, ETFs, futures, and options, pending final regulatory approval.

CMC Invest will provide clients with zero commission and real-time pricing in selected markets such as Singapore, the United States, and Australia. CMC Markets already has similar licenses in the UK and Australia for CMC Invest.

CMC Markets has been offering CFDs in Singapore since 2007

CMC Markets is a renowned brokerage firm established in 1989 that serves retail and institutional clients through regulated offices and branches in 12 countries, with a significant presence in the UK, Australia, Germany, and Singapore.

The company’s trading platform enabling clients to trade up to 10,000 financial instruments across shares, indices, foreign currencies, commodities, and treasuries through CFDs, spread bets (in the UK and Ireland only), and, in Australia, access stockbroking services.

The rise of multi-asset trading in recent years has led CMC Markets to launch CMC Invest, which will soon be offered to Singapore residents, providing them with access to international and local stocks, ETFs, futures, and options.

Christopher Forbes, Head of CMC Invest Singapore, said: “This announcement is a major milestone and validation for CMC Markets. Our business has been offering CFDs in Singapore since 2007, but the Capital Markets Services Licence for CMSI will allow us to serve our clients with more robust investment products, including shares and ETFs.

“We know that Singapore is a sophisticated market when it comes to the financial services industry and we chose to launch CMC Invest here due to its strong corporate governance infrastructure and regulator. This demonstrates our commitment to Singapore and we look forward to bringing a new world-class platform to our clients.”

UK-based CMC Invest launched Plus plan

In the United Kingdom, CMC Invest has recently launched a new Plus plan, offering flexible stocks and shares ISAs, a USD currency wallet, and a wider investment choice all for a flat custody fee of £10 per month.

Allowing customers to build an investment portfolio that suits them, the UK investment platform’s new plan that features flexible stocks and shares ISA is targeted at customers wanting to invest up to £20,000 each tax year and shield their investment returns from tax.

Flexible ISA is something only a limited amount of investment providers offer and allows customers to take money out of their ISA and place the money back again within the same tax year without impacting their ISA allowance.

In the UK, dividend allowance and capital gains tax annual exemption will be slashed from £12,300 in the current tax year to £6,000 in 2023/24 and £3,000 in 2024/25. This makes flexible ISAs a particularly valuable proposal for customers.

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