FSMOne web platform

[goldnut]

Quick question sine I'm a noob.

In FSM Account Holdings the price per share is not updated regularly but based on original purchase price right?

That means if I want to calculate the difference I have to refer to live trading?

 

[reddevil0728]

Is it me or is their interest for SGD balance in their Multi-Currency Cash Account which is at 0.4% p.a. is better than the pathetic 0.05% interest given by local banks (ignoring those high interest yielding accounts)?

So if you need funds almost readily available but have already maxed out/don't qualify for those higher interest for those high interest yielding account, actually worthwhile parking money with FSM?

Is there any catch?

 

[goldnut]

it will be held as one and the unit cost will be averaged out

Ok thanks. But what if I want to sell?

Since both the RSP and lump sum are in one account, can I sell them off anytime or does the transaction take place only on the 15th (including the initial lump sum?)

edit : Hmm, it appears I can do from either RSP end or normal selling end but fractional shares has to be done on the RSP end (?)

 

[klanddt]

Is it me or is their interest for SGD balance in their Multi-Currency Cash Account which is at 0.4% p.a. is better than the pathetic 0.05% interest given by local banks (ignoring those high interest yielding accounts)?

So if you need funds almost readily available but have already maxed out/don't qualify for those higher interest for those high interest yielding account, actually worthwhile parking money with FSM?

Is there any catch?

It seems so, but your money in there is not guaranteed by the SG Gov like in the bank.

 

[Gambler.]

After you login, there a gold coloured badge or diamond right next to your name indicating your tier.

oh good to know, i just got my silver

 

[Sadisticnoob]

Is it me or is their interest for SGD balance in their Multi-Currency Cash Account which is at 0.4% p.a. is better than the pathetic 0.05% interest given by local banks (ignoring those high interest yielding accounts)?

So if you need funds almost readily available but have already maxed out/don't qualify for those higher interest for those high interest yielding account, actually worthwhile parking money with FSM?

Is there any catch?

no guarantee by SDIC.

 

[reddevil0728]

It seems so, but your money in there is not guaranteed by the SG Gov like in the bank.

no guarantee by SDIC.

Understood. But gov only covers up to 75k per bank.

So if you choose to put anything more than 75k in the same bank it is no different right?

But anyway that aside, if you are investing with FSM, and leave the money in there, it is also not guaranteed?

 

[tulipkiss]

After you login, there a gold coloured badge or diamond right next to your name indicating your tier.

oh thanks. so it's just the tier. thought there may be an additional indication of the 'prestige membership'.

 

[klanddt]

Understood. But gov only covers up to 75k per bank.

So if you choose to put anything more than 75k in the same bank it is no different right?

But anyway that aside, if you are investing with FSM, and leave the money in there, it is also not guaranteed?

Even a mere $1 or $75001 in FSM cash account is still not protected. Period.

If you are referring to Shares then it is kept in custody so if FSM went bust in theory you still have access to your money/shares inside. Unless they illegally liquidate your shares and laundered your money, that we are talking about crime happening.

 

[reddevil0728]

Even a mere $1 or $75001 in FSM cash account is still not protected. Period.

If you are referring to Shares then it is kept in custody so if FSM went bust in theory you still have access to your money/shares inside. Unless they illegally liquidate your shares and laundered your money, that we are talking about crime happening.

When you are talking about "not protected" you are talking about they can actually use the cash and launder it?

Same for their auto sweep account?

 

[highsulphur]

When you are talking about "not protected" you are talking about they can actually use the cash and launder it?

Same for their auto sweep account?

Means the cash is not insured by the Singapore Deposit Insurance Corporation

 

[bryant_16]

Hi everyone, if I want to buy s&p500 on a quarterly basis, is this platform good?

 

[reddevil0728]

Means the cash is not insured by the Singapore Deposit Insurance Corporation

understand about that part. but it's no diff if we were to just hold cash in any brokerage account right?

 

[highsulphur]

understand about that part. but it's no diff if we were to just hold cash in any brokerage account right?

Yes but people don't usually hold cash in brokerage account as a form of savings account

The difference in insurance deposit is not an insignificant detail

 

[tulipkiss]

sorry if it seems that i have alot of questions - but i have tried contacting fsm one through different channel for various questions and they didn't helped (gave inaccurate answers / no reply / cut off). posting here seems to be more helpful so far

would like to know how WAC is determined for a situation like this:

month 1: bought 1k shares at $5
month 2: bought 1k shares at $8
month 3: bought 1k shares at $11

the WAC is $8 (plus the transaction fees).

month 4: sold 1.5k shares at $12

what would be the new WAC?
is it last in, first out? means...new WAC is $6?

 

[Andrew833]

Is it me or is their interest for SGD balance in their Multi-Currency Cash Account which is at 0.4% p.a. is better than the pathetic 0.05% interest given by local banks (ignoring those high interest yielding accounts)?

So if you need funds almost readily available but have already maxed out/don't qualify for those higher interest for those high interest yielding account, actually worthwhile parking money with FSM?

Is there any catch?

If you park in Poem, about 1%++
Don't know any catch or not.

 

[limster]

sorry if it seems that i have alot of questions - but i have tried contacting fsm one through different channel for various questions and they didn't helped (gave inaccurate answers / no reply / cut off). posting here seems to be more helpful so far

would like to know how WAC is determined for a situation like this:

month 1: bought 1k shares at $5
month 2: bought 1k shares at $8
month 3: bought 1k shares at $11

the WAC is $8 (plus the transaction fees).

month 4: sold 1.5k shares at $12

what would be the new WAC?
is it last in, first out? means...new WAC is $6?

selling shouldn't change the WAC. I believe this is also how IBKR operates

 

[tulipkiss]

selling shouldn't change the WAC. I believe this is also how IBKR operates

oh no, saw my records wrongly. no wonder i thought it's not very logical when i was typing that hahaha. my bad.
yes u're correct, sale doesnt impact the existing WAC.

 

[zoneware7]

Transfer of USD into multi-currency acct

Hi,
Just like to check have anyone transfer USD cash into the multi-currency account yet? What is the the charges like?

 

[kurtgoh]

anyone receiving the dividend from FTEC?

mine, is a joke.. if i understand correctly.. so no dividend at all


Securities Name : Fidelity® MSCI Information Technology Index ETF
Holdings as of Record Date : 8.663
Ex Date : 19 Jun 2020
Record Date : 22 Jun 2020
Payment Date : 24 Jun 2020
Payout Date : 25 Jun 2020
Declared Dividend Rate : USD 0.196
Payout Dividend Rate : USD 0.196
Gross Payout Amount : USD 1.70
Net Payout Amount : USD 0.00
Tax Rate : 30%
Tax : USD 0.51
GST : USD 0.08
Handling Fee : USD 1.11
Remarks : Cash Dividend/Distribution with Tax