● By Ahmed Wafi
Grow your cash using these apps!
It’s a pleasant sight to see more and more young Malaysians developing a better sense of financial literacy and understanding the importance of building up their wealth for the future especially more so as we’ve seen that the future can be very uncertain!
As more people are becoming financially conscious, we have since seen an increase in the number of investment platforms that offer users a variety of different assets they can invest in ranging from stocks to crypto currency.
So, if you’re new to investing and are looking to expand your wealth, you can try out the following investment platforms listed below.
Licensed by the Security Commissions (SC), StashAway has grown to become one of Malaysia’s most preferred investment platforms. Having no minimum deposit, StashAway will personalise your portfolio according to your goals (retirement, life goals, building wealth, etc.) and risk preferences. StashAway also recently launched its latest product, StashAway SimpleTM, that makes investing simpler than it already is with a projected return rate of 2.4% per annum!
(Note: According to StashAway’s official website, their portfolios are not strictly Shariah compliant)
If you’re looking to jump on the cryptocurrency bandwagon, look no further than Luno. With a minimum deposit of RM10, you can start trading a variety of different cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple. You’ll earn free Bitcoin just by inviting your friends to join and if you join a friend’s invite link, you’ll get RM25 in your e-wallet to start spending on crypto!
Branding itself as ‘The Online Ethical Investment Platform’, Wahed (which is the Arabic word for one) appeals to many Malaysians looking to make shariah-compliant investments. With Wahed, you won’t be subject to any hidden, trade and rebalancing fees. Wahed provides automated portfolio management services to its clients through the use of its advanced platform, which employs financial algorithms derived from Modern Portfolio Theories to create optimal portfolios that are tailored to the needs of investors.
Touch ‘n Go’s latest product to hit the market Go+ allows users to invest their eWallet balance into Go+ balance where they can earn a nett daily return rate of 1.47% per annum. If you’re new to the investment market and are looking to get started, simply launch your Touch ‘n Go eWallet app to get started. You’ll have full control to cash out your balance at any time and will only need RM10 to get started. Go+ is licensed by the SC and is managed by Principal in alliance with CIMB Bank.
Like most of the other entries on this list, Go+ is shariah compliant.
All investment platforms carry their own risks so before you start investing your cash into any of these investment platforms, #teamGRADUAN strongly advises our users to conduct thorough research as any of the information above can change as time goes on.
GRADUAN also encourages our users to explore alternative investment platforms to help grow your wealth!
Photo by Mathieu Stern on Unsplash
Payments Network Malaysia Sdn Bhd (PayNet)
HUAWEI TECHNOLOGIES (MALAYSIA) SDN BHD
UNIQLO (MALAYSIA) SDN BHD
United Overseas Bank (Malaysia) Bhd
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