FSMOne web platform

[reddevil0728]

i thought auto sweep is a default account?

so if i dont use, i wont be charge?

i didnt know you can use FAST/Paynow , so the money will goes directly to cash account.
Then if you are buying USD ETF, manually transfer over?

auto sweep is opt in 1

 

[duckmite]

Usually is on the same day but since yours left on Friday after office hours it may be reflected on Monday?

Check that the money is not earmarked for your RSP cause then your cash balance will be deducted and won't show it

It's Tuesday and nothing has been reflected.

How do I check if it's been earmarked? It is intended for the RSP.

Do note that there is a quarterly management fees charge of 0.05% per quarter for monies park in auto-sweep account. The charges is accrued daily and quarterly deduct from your auto-sweep available balance.

i wonder if its better to have a GIRO setup instead for FSM.

they give us 0.9% but take 0.2% as mangement fee

I didn't opt for the auto-sweep account but I'd forgotten the reason why. Thanks for the reminder. My mind is like a sieve nowadays.

how long for FSM to verfiy my acc opening?

I don't recall but it was fast.

So, I used the Livechat function and had the weirdest conversation.

I was informed that

For DDA, the deduction date will be 3 business days before RSP date. And it take 1 business day to reflect in your cash account.

It should be reflect in your cash account on 9 July as the RSP transaction date is on 8 of each month.

It will show in the available balance. The monthly transfer that set up by you is to top up your cash account and we will only utilize the monies to subscribe for next month RSP ETFs.

For example, it will reflect in your cash account on 9 july and will be use to subscribe for RSP in August.

I think I might be cancelling this DDA and just using the Standing Instruction.

Thanks for all your help.

 

[Sadisticnoob]

Do note that there is a quarterly management fees charge of 0.05% per quarter for monies park in auto-sweep account. The charges is accrued daily and quarterly deduct from your auto-sweep available balance.

i wonder if its better to have a GIRO setup instead for FSM.

they give us 0.9% but take 0.2% as mangement fee

dont give wrong info bro.

Auto sweep consists of the following

15% cash
45% lion wealth unit trust
40% fullerton cash fund.

the management fee is implicit from the 85% unit trust. and the amount that you see on your screen is after deducting management fees.

management fee is accrued daily so it wont affect your holdings much

 

[reddevil0728]

Anyone knows if buying using DBS cash upfront and selling using FSM on the same day is considered short sell? Or it will just equalise how on settlement?

 

[lkhwee]

Anyone knows if buying using DBS cash upfront and selling using FSM on the same day is considered short sell? Or it will just equalise how on settlement?

yes, considered short sell as the shares still not in your CDP account yet.

 

[reddevil0728]

yes, considered short sell as the shares still not in your CDP account yet.

So cannot buy and sell on the same day? Given that both will settle T+1

Can only buy and sell 1 day apart?

 

[kurtgoh]

dont give wrong info bro.

Auto sweep consists of the following

15% cash
45% lion wealth unit trust
40% fullerton cash fund.

the management fee is implicit from the 85% unit trust. and the amount that you see on your screen is after deducting management fees.

management fee is accrued daily so it wont affect your holdings much

nope..

recently i got a deduction of $6 on my cash account and i wrote to FSM about it.

this is their reply on the deduction:

First of all, we apologize for the delay in replying to your email as we are experiencing an influx of emails recently; thus causing a delay in responding to your enquiry on a timely manner.

Do note that there is a quarterly management fees charge of 0.05% per quarter for monies park in auto-sweep account. The charges is accrued daily and quarterly deduct from your auto-sweep available balance.

 

[Sadisticnoob]

nope..

recently i got a deduction of $6 on my cash account and i wrote to FSM about it.

this is their reply on the deduction:

oh i just checked my amount.

I dont have the amount deducted from my auto sweep i think

 

[5408854088]

Ultimate Stock ETF List for SG Investors

https://theinvestquest.com/ultimate-stock-etf-list-for-sg-investors/

 

[Gamma~]

Let's say if I will like to purchase US ETF with small lump sum of $1k per month, will it be advisable to use FSM or IBKR?

Couldn't find an answer to this, or maybe i didn't search hard enough.

I have both IBKR and FSM. Assuming the ETFs are available on both platforms, why would one use FSM to buy the ETFs since the sales charge is higher?

 

[reddevil0728]

Couldn't find an answer to this, or maybe i didn't search hard enough.

I have both IBKR and FSM. Assuming the ETFs are available on both platforms, why would one use FSM to buy the ETFs since the sales charge is higher?

cause FSM maybe able to do RSP for that particular etf, but IBKR u need to DIY

 

[Gamma~]

cause FSM maybe able to do RSP for that particular etf, but IBKR u need to DIY

Oh the only diff is the automated RSP vs diligent manual DIY? Hmm does that justify the higher sales charge?

 

[reddevil0728]

Oh the only diff is the automated RSP vs diligent manual DIY? Hmm does that justify the higher sales charge?

for those people who are not disciplined, why not?

 

[klanddt]

How much did you work out FSM's sales charge for RSP? I thought it is peanuts. Only selling attracts higher charge.

Oh the only diff is the automated RSP vs diligent manual DIY? Hmm does that justify the higher sales charge?

 

[Pocoyoz]

if set up digital token, will sms otp be disabled?

 

[limster]

How much did you work out FSM's sales charge for RSP? I thought it is peanuts. Only selling attracts higher charge.

FSMOne RSP is pretty good especially for HKSE ETFs, I'm currently using it for 2800.HK, but not all ETFs are eligible... I"m hoping that they will allow 2801.HK by RSP as well!

 

[Andrew833]

if set up digital token, will sms otp be disabled?

I think so. Prefer sms otp.
Just try using OCBC.
If allow to deposit money using atm will be easier for me. Poems allow it.

 

[Andrew833]

How much did you work out FSM's sales charge for RSP? I thought it is peanuts. Only selling attracts higher charge.

S$1, HK$1, US$1
Depend on which market you do RSP.
Sell, I think is S$10, HK$10, US$10

 

[Gambler.]

FSMOne RSP is pretty good especially for HKSE ETFs, I'm currently using it for 2800.HK, but not all ETFs are eligible... I"m hoping that they will allow 2801.HK by RSP as well!

Yea they should allow 2801 man.

 

[reddevil0728]

if set up digital token, will sms otp be disabled?

Seems like still got the option to sms otp