Friday 29 Mar 2024
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KUALA LUMPUR (Sept 30): Phillip Futures will be offering US shares Contracts for Difference (CFD) to its customers, starting tomorrow.  

In a statement today, the brokerage firm said it will offer access to US shares CFD from the largest stock exchange in the world, the New York Stock Exchange (NYSE), to meet diverse customer needs.  

“By trading US Shares CFD, customers of Phillip Futures will be able to participate in the price movement of the top 30 companies on NYSE. Customers can potentially benefit from attractive equity returns, as these large-cap companies have a good track record of stable earnings. 

“Hedging is a key function of CFD; it allows customers to initiate short positions and offset potential loss in the value of the underlying asset. Customers may also enjoy leverage of up to 10 times, when they trade US Shares CFD, potentially earning a higher return with smaller capital outlay,” it said. 

According to the broker, CFD is one of the most popular forms of derivatives trading. It added that CFD allows investors to trade on the future price movements of the underlying asset, without actually owning the underlying asset. 

Phillip Futures is committed to fulfilling the needs of its clients by offering 24-hour dealing desk and extensive IT support. 

It said customers will be assured of quality assistance during the trading hours of the NYSE market.  

Moreover, it said customers may attend free seminars and webinars organised by Phillip Futures to get started in CFD trading or to pick up trading techniques and strategies. 

Phillip Futures was incorporated on Oct 7, 1995 under Companies Act 1965 and is a holder of Capital Markets Services Licence to carry out business of dealing in derivatives. 

It is the first futures broking company in Malaysia to provide online trading on local and foreign specified exchanges. 

Edited ByJenny Ng
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