FSMOne web platform

[highsulphur]

So ideally we should maintain min silver status with FSMOne and link it to cdp so that we can buy into FSMOne (and choose to transfer later to cdp) and sell from cdp all for $10 commission

 

[henrylbh]

So ideally we should maintain min silver status with FSMOne and link it to cdp so that we can buy into FSMOne (and choose to transfer later to cdp) and sell from cdp all for $10 commission

Transfer to CDP will incur fee?

 

[highsulphur]

Transfer to CDP will incur fee?

Was told 10.70 per counter charged by cdp

 

[henrylbh]

So ideally we should maintain min silver status with FSMOne and link it to cdp so that we can buy into FSMOne (and choose to transfer later to cdp) and sell from cdp all for $10 commission

Was told 10.70 per counter charged by cdp

Buy into FRMOne, later transfer to CDP and later sell from CDP? Isn't that cumberson and in time of urgency, there will be time lag.

 

[xRenol]

For what products?

Not for etf and shares listed on sgx

What product? Refer to this...

https://secure.fundsupermart.com/fsm/new-to-fsm/pricing-structure

I saw the FSM Pricing and there is a Management Fee (per annum) for EFT?

They have removed the Platform Fee for SGX EFT quite long ago?

 

[henrylbh]

Why do you want to pay and transfer to a Custodian account when you can pay to transfer it to your CDP and access the shares from any brokers...You can link you CDP account to FSM and sell your shares there...

In case of liquidation is there certainty that the custodised assets will be out of reach of creditors?

Besides, I think there is no way to dispose the assets urgency through other than FSMOne.

 

[makav31i]

In case of liquidation is there certainty that the custodised assets will be out of reach of creditors?

All brokers claim that their custodian account, the assets is held seperate from the company's assets... That's why in my post I asked why someone wanted to pay money to transfer from a custodian account of one broker to a custodian account of another broker when he/she could have transferred it to CDP and can sell the shares in the CDP on any other brokers...

Besides, I think there is no way to dispose the assets urgency through other than FSMOne.

If you hold the shares in your CDP, you can just sell the shares on any brokers not restricted to FSM...I don't see a real issue here...

 

[xRenol]

I saw the FSM Pricing and there is a Management Fee (per annum) for EFT?

They have removed the Platform Fee for SGX EFT quite long ago?

Anyone can advise?

 

[5408854088]

Anyone can advise?

no management/platform fee for stocks and ETFs.

https://secure.fundsupermart.com/fsm/new-to-fsm/pricing-structure

 

[henrylbh]

If you hold the shares in your CDP, you can just sell the shares on any brokers not restricted to FSM...I don't see a real issue here...

But if you buy shares through FSM, your shares are in custody by FSM, not CDP. If your shares are in CDP, you can use FSM to sell.

 

[henrylbh]

All brokers claim that their custodian account, the assets is held seperate from the company's assets... That's why in my post I asked why someone wanted to pay money to transfer from a custodian account of one broker to a custodian account of another broker when he/she could have transferred it to CDP and can sell the shares in the CDP on any other brokers...

There is no certainty that assets held in custodian account is protected in case of winding up. Can show me a legal case on this in Singapore?

If your shares are held in custody by one broker, you need to pay to transfer to another broker's custody (or to CDP) if you wish to sell through the latter. There must be some reasons for wanting to transfer from one custodian to another custodian e.g. for margin trading.

 

[henrylbh]

no management/platform fee for stocks and ETFs.

https://secure.fundsupermart.com/fsm/new-to-fsm/pricing-structure

I think that applies only to Sgx stocks and ETF.

 

[makav31i]

But if you buy shares through FSM, your shares are in custody by FSM, not CDP. If your shares are in CDP, you can use FSM to sell.

You are just repeating what I have said...Like I said in other thread, if you want to buy straight to your CDP, the cheapest option is buying using DBS Vickers Cash Upfront...If you are already using another broker to store shares in a Custodian account, it makes zero sense to pay to transfer from one custodian account to another custodian account when you can transfer it to CDP and sell using any brokers...

There is no certainty that assets held in custodian account is protected in case of winding up. Can show me a legal case on this in Singapore?

How to show you a legal case when no such thing ever happen in Singapore...Also I am not a lawyer or financial advisor to give you an advice...If you are worried about Custodian account, don't use them...If you don't mind the risk, use them...It is that simple...

If your shares are held in custody by one broker, you need to pay to transfer to another broker's custody (or to CDP) if you wish to sell through the latter. There must be some reasons for wanting to transfer from one custodian to another custodian e.g. for margin trading.

I don't even understand what is your point to be honest...

I think that applies only to Sgx stocks and ETF.

No it doesn't, I have US stocks and ETF and till today I was not charged any platform fees...They clearly state zero platform fees for stocks, ETF, Managed Portfolio and Auto-Sweep Account...If it was referring to SGX only, I and most other people would have complained about it...

 

[xRenol]

no management/platform fee for stocks and ETFs.

https://secure.fundsupermart.com/fsm/new-to-fsm/pricing-structure

Thanks.

10 chars

 

[henrylbh]

If you are already using another broker to store shares in a Custodian account, it makes zero sense to pay to transfer from one custodian account to another custodian account when you can transfer it to CDP and sell using any brokers...

You cannot understand? Let it be

 

[lingalong]

What happens if I open an account with FSMone and leave it inactive for a year without any funds inside? Will I still be charged the platform fee?

 

[highsulphur]

What happens if I open an account with FSMone and leave it inactive for a year without any funds inside? Will I still be charged the platform fee?

Mine was inactive for almost 7 years and nothing happened. Need to log and do some admin to reactive though

 

[makav31i]

What happens if I open an account with FSMone and leave it inactive for a year without any funds inside? Will I still be charged the platform fee?

There is no Platform fee, who told you got Platform fee?

 

[lingalong]

There is no Platform fee, who told you got Platform fee?

Under charges:

6. What is a platform fee and when is it imposed?

In light of the low sales charges FSMOne is offering, we have implemented this ongoing administration fee to allow us to continue offering our investors new and better products. The platform fee was imposed since 1 May 2010.

13. How is the platform fee being charged? Is it deducted from my holdings?
Platform fee is accrued daily and deducted quarterly. It is calculated based on:

1. Bond holdings under one account,

2. Combined Unit Trust holdings of all FSMOne accounts under the main account holder, inclusive of any beneficiary account holdings.

The platform fee will be deducted from your holdings after the end of each quarter. The quarter ends on the last day of February, May, August, and November.

In summary, the platform fee of Cash and SRS holdings respectively will be deducted from the following sequence:

1. FSM Cash Account (SGD), OR
2. Auto-Sweep Account, OR
3. Nikko AM Shenton ShortTerm Bond Fund (What is this?), OR
4. Cash Fund, OR
5. Best Performing fund


Unless these are outdated?

 

[makav31i]

Under charges:

6. What is a platform fee and when is it imposed?

In light of the low sales charges FSMOne is offering, we have implemented this ongoing administration fee to allow us to continue offering our investors new and better products. The platform fee was imposed since 1 May 2010.

13. How is the platform fee being charged? Is it deducted from my holdings?
Platform fee is accrued daily and deducted quarterly. It is calculated based on:

1. Bond holdings under one account,

2. Combined Unit Trust holdings of all FSMOne accounts under the main account holder, inclusive of any beneficiary account holdings.

The platform fee will be deducted from your holdings after the end of each quarter. The quarter ends on the last day of February, May, August, and November.

In summary, the platform fee of Cash and SRS holdings respectively will be deducted from the following sequence:

1. FSM Cash Account (SGD), OR
2. Auto-Sweep Account, OR
3. Nikko AM Shenton ShortTerm Bond Fund (What is this?), OR
4. Cash Fund, OR
5. Best Performing fund


Unless these are outdated?

Read what you asked again...

What happens if I open an account with FSMone and leave it inactive for a year without any funds inside? Will I still be charged the platform fee?

You put no money inside FSM after opening an account, how are they going to charge you for zero holdings...You telling me you leave zero dollars can be used to purchase zero dollars worth of bonds?So Platform Fee on Zero is how much?

https://secure.fundsupermart.com/fsm/new-to-fsm/pricing-structure

Again read the pricing structure, it is not the difficult to understand...