Singapore investment platform Syfe will launch in Australia in July, hoping to offer a solution for retail investors who have graduated from “beginner” grade.
Meanwhile, new investment platforms including Stake, Superhero and Sharesies continue to battle for market share with the likes of CommSec and NABTrade.However, the space is far from crowded, said Syfe chief business officer Samantha Horton.
She said this was exemplified in Syfe’s decision to offer “institutional-like solutions” to all investors, including the ability to screen stocks for valuations and earnings momentum.“In my hedge fund days, those were the first two things I’d look at when I’d screen a stock. We build those tools into our platform and give retail customers access to this at no additional cost,” she said.
Syfe first launched in Singapore in 2019 as a digital wealth management and advice platform, before expanding to include trading under Syfe Trade early this year and launching in Hong Kong.Ms Horton said Syfe’s decision to launch in Australia with US stocks and cryptocurrencies was due to the “lack of opportunity for diversification” in the Australian market and the large amount of money sitting in the banks.“There are $1.
“Yet if you look at the US market, it’s returned double what the ASX has over the last 10 years. So, there’s a big opportunity for diversification and that stands for crypto as well,” Ms Horton said.
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