FSMOne web platform

[makav31i]

Qn. The shares held in custody by FSMOne is ring-fenced but what about cash held with them?

Same with cash held by other brokers, if it is not a Savings Account, it will not be protected under Deposit Insurance Scheme...They even explicitly state that the Cash Account and Auto-Sweep Account is not a Savings Account and not protected under Deposit Insurance Scheme...

Rates quoted are in % p.a. and are subject to change without prior notice. The Cash Account and Auto-Sweep Account are not saving accounts and hence not protected by the deposit insurance scheme.

This is not exclusive to FSM, any other brokers also the same...

 

[Sadisticnoob]

great, good to have you and willing to share.

i'm kinda new to FSM RSP, currently enroll on the CFA and ES3.
the fee is good, only $1.07, regardless of amount for RSP.

I'm actually keen in the NYSE: FTEC & VT too, thinking if its feasible since there's 30% tax imposed.
new to this 2 ETF and not much write up online on them too.
the charges is also USD $1.08 with GST

For HKEX, is there any withholding tax?
i read there's none, just to re confirm.
but the choices in FSM RSP counter under HKEX are very limited and not attractive

under FSM, how does
Total Expense Ratio & Management Fee, really works?

1. HKEX confirm no witholding tax, kindly refer to above picutes.
2. I do not use RSP currently
3. TER not too sure if youre talking about the underlying etf or FSM charges.

TER is only applicable for a fund charge this includes admin fee and management fee. The workings is abit complicated to be calculated here.

4. Management fee is based on Assets under management accrued on a daily basis.

example if your you hold S$1,000 of funds with them at 0.50% p.a

This means management fee for the day is 1,000 * 0.5%/365 days which is approximately 1.36 cents per day.

 

[klanddt]

You will receive an advice from FSM in email very soon detailing what you just asked.

I also did my first RSP deduction in FSM this month. Can I see each month how many units were purchased (sort of like history transaction) or that each month I have to calculate by taking the BEFORE and AFTER balance? I am referring to within the FSM portal or app.

Thanks.

 

[y2kbug]

Here is a good article I found about RSP

https://newacademyoffinance.com/fsmone-fees-rsp-etf/



VANGUARD TOTAL WORLD STOCK INDEX FUND ETF SHARES NYSE:VT

This index is under RSP and minimum is $50. Is it true that you need to convert to USD dollar before RSP can go through?

Selling charge of USD$10 ?

 

[makav31i]

Here is a good article I found about RSP

https://newacademyoffinance.com/fsmone-fees-rsp-etf/



VANGUARD TOTAL WORLD STOCK INDEX FUND ETF SHARES NYSE:VT

This index is under RSP and minimum is $50. Is it true that you need to convert to USD dollar before RSP can go through?

Selling charge of USD$10 ?

I changed my SGD to USD so I don't know if it is the only way it works...I topup my cash account on my payday using FAST transfer... Selling charge is 0.08% or minimum $8.80...I don't know where or how the article can get US$10 when the photo that they quoted on FSM clearly indicate RSP ETF sell is 0.08% minimum US$8.80...

 

[batniss]

they had improved their system, i received in less than 10mins via FAST

No idea why after 4 days my money still not transferred out (shows pending). everything is just slow with FSM.

wait for $ credit, 3 days. Transfer out also need to wait.

 

[tiertime]

No idea why after 4 days my money still not transferred out (shows pending). everything is just slow with FSM.

wait for $ credit, 3 days. Transfer out also need to wait.

did u Live chat them to check/ call them ?

 

[5408854088]

anyone encounter two transactions of partial fill, which eventually adds up to the total order? they have limited order but don't have fill or kill option?

 

[batniss]

did u Live chat them to check/ call them ?

the live chat loads for 3 hrs still loading, gave up.

after multiple days (5-6) it finally went in. not using them again.. at least in the near future.
can't get support, email them no response etc etc.

 

[MichealScott]

No idea why after 4 days my money still not transferred out (shows pending). everything is just slow with FSM.

wait for $ credit, 3 days. Transfer out also need to wait.

Sorry to hear that but I think it might just be you. Everything have been very fast for me and my friends who used FSM in terms of processing. Never had to use their CS tho.

 

[5408854088]

No idea why after 4 days my money still not transferred out (shows pending). everything is just slow with FSM.

wait for $ credit, 3 days. Transfer out also need to wait.

the live chat loads for 3 hrs still loading, gave up.

after multiple days (5-6) it finally went in. not using them again.. at least in the near future.
can't get support, email them no response etc etc.

Sorry to hear that but I think it might just be you. Everything have been very fast for me and my friends who used FSM in terms of processing. Never had to use their CS tho.

plus one..

 

[tomatoman]

simi is plus one?

you agree

 

[5408854088]

free market depth data is provided from 1 April to 31 July for SGX listed securities. just sharing for information.

https://secure.fundsupermart.com/fs...ll-clients-enjoy-free-sgx-market-depth-access

 

[donnygg]

I'm considering getting some US stocks through FSM or SCB, as they seem to have the lowest fees around for small transactions. Leaning towards FSM as it seems cheaper but I already have USD in SCB for buying IWDA. Any pros and cons of the two? Just checking if I overlooked any fees or factors

 

[makav31i]

I'm considering getting some US stocks through FSM or SCB, as they seem to have the lowest fees around for small transactions. Leaning towards FSM as it seems cheaper but I already have USD in SCB for buying IWDA. Any pros and cons of the two? Just checking if I overlooked any fees or factors

FSM got dividend handling fees of US$3...

 

[limster]

FSM got dividend handling fees of US$3...

all this clearly stated on the website, always makes me wonder when people say 'cheapest fees', did they check the fees on the website, or simply quoting some anonymous post that says fsm has the cheapest fees

 

[kurtgoh]

I'm considering getting some US stocks through FSM or SCB, as they seem to have the lowest fees around for small transactions. Leaning towards FSM as it seems cheaper but I already have USD in SCB for buying IWDA. Any pros and cons of the two? Just checking if I overlooked any fees or factors

in nutshell,

correct me if i'm wrong.

FSM is good for those doing RSP, 40 counters of ETF and with very low fees.

other than that, its SCB.

 

[makav31i]

all this clearly stated on the website, always makes me wonder when people say 'cheapest fees', did they check the fees on the website, or simply quoting some anonymous post that says fsm has the cheapest fees

Have to understand many people WFH, too much free time, want to start investing in the stock market... That's why so many people come to ask about account opening and fees...

 

[makav31i]

in nutshell,

correct me if i'm wrong.

FSM is good for those doing RSP, 40 counters of ETF and with very low fees.

other than that, its SCB.

Not really, SCB is only attractive if you have priority banking status which have no minimum fees...

For SCB non-Priority customer, the fees are 0.20% or minimum $10...

For FSM, it is 0.08% or minimum $10...

That is for SGX...

If you compare USA exchange,

SCB charges 0.25% or minimum US$10...

FSM charges 0.08% or minimum US$8.80...

Can't compare LSE as it is not available on FSM...FSM only available for SGX, HKEX and United States...

 

[pawn_king]

the live chat loads for 3 hrs still loading, gave up.

after multiple days (5-6) it finally went in. not using them again.. at least in the near future.
can't get support, email them no response etc etc.

livechat didn't work for me either. Call them.

I'm considering getting some US stocks through FSM or SCB, as they seem to have the lowest fees around for small transactions. Leaning towards FSM as it seems cheaper but I already have USD in SCB for buying IWDA. Any pros and cons of the two? Just checking if I overlooked any fees or factors

Since you already have USD in SCB and not easily transferable without incurring losses, use SCB.

If you are looking to do this for a long while, and trade a couple of times each month, can consider IBKR. USD10/mth fees is negligible, deductible from your trading/fx costs. no min fees once you hit usd100k