FSMOne web platform

[reddevil0728]

Never read any cap but theirs is for normal trading I think. What I mean is some ppl ask can say within 1 day buy 100k and then within same day sell that 100k those intra-day trading sort. Not sure as that reader never update afterwards

But I am sure shorting not allowed. It is also pre-funded acct concept only got monies then can buy, can sell when really got shares already

which reader?

 

[sellipad2]

Never read any cap but theirs is for normal trading I think. What I mean is some ppl ask can say within 1 day buy 100k and then within same day sell that 100k those intra-day trading sort. Not sure as that reader never update afterwards

But I am sure shorting not allowed. It is also pre-funded acct concept only got monies then can buy, can sell when really got shares already

Let's say we use srs account with fsm, what happened if we sell shares bought within 3d? Since shares yet to be credited into srs account ..I think it may become shorting though fsm don't allow shorts

 

[reddevil0728]

Let's say we use srs account with fsm, what happened if we sell shares bought within 3d? Since shares yet to be credited into srs account ..I think it may become shorting though fsm don't allow shorts

If shares has yet to be credited. Shares would also not have been deducted

 

[sellipad2]

If shares has yet to be credited. Shares would also not have been target.

Thanks then I will shift to fsm, 8.88 sounds too good to be true when moomoo and tiger already lowest in market

 

[reddevil0728]

Thanks then I will shift to fsm, 8.88 sounds too good to be true when moomoo and tiger already lowest in market

Huh why so?

 

[sellipad2]

Huh why so?

low mah, currently tiger and moomoo lowest at 0.03%, fsm $8.88 comm is even lower if trade large quantum

 

[reddevil0728]

low mah, currently tiger and moomoo lowest at 0.03%, fsm $8.88 comm is even lower if trade large quantum

got competition ma. and serves diff purpose. nothing surprising

 

[findmehereeee]

Hi all, not sure if this has been discussed previously but is it worth to opt-in for the auto-sweep on FSM?

 

[reddevil0728]

Hi all, not sure if this has been discussed previously but is it worth to opt-in for the auto-sweep on FSM?

What do you define as worth?

what are you trying to achieve? What are your concerns?

 

[findmehereeee]

What do you define as worth?

what are you trying to achieve? What are your concerns?

Thanks for the reply! I'm currently on a RSP plan of $300 to ETFs per month and understand that the dividends etc. would be credited into the cash account. So i was wondering if it would make more sense to opt-in to auto-sweep and they'll re-invest it.

Long-term growth, just trying to grow $$ better than leaving in the bank. My concern is whether the fees of the auto-sweep would erode the earnings on the dividends since they aren't much.

 

[lucky_]

Hi, I have a question regarding RSP on FSMOne. I set up a RSP earlier this month, S$1250 monthly for an ETF on the NYSE.
Just had the first deduction and confirmation but noticed that only S$1228.48 was deducted from my Cash Account. I assumed that as currently there is the 0% processing fee promotion, all S$1250 would be deducted to maximise the units purchased, anyone can advise why the full amount wasn't used? Thanks in advance!

EDIT: clarified my earlier mention of purchase of RSP stock, to RSP ETF.

 

[sohguanh]

Hi, I have a question regarding RSP on FSMOne. I set up a RSP earlier this month, S$1250 monthly for a stock on the NYSE.
Just had the first deduction and confirmation but noticed that only S$1228.48 was deducted from my Cash Account. I assumed that as currently there is the 0% processing fee promotion, all S$1250 would be deducted to maximise the units purchased, anyone can advise why the full amount wasn't used? Thanks in advance!

Hi just to share I was using FSMOne RSP for ETF and it is same they do not utilize the full amount we enter. I was thinking of 2 possible reasons. For SGX ETF maybe they try to get full unit/share as much as possible? Another could be they need to buffer some allowance to pay for all trading related fees from the full amount we enter? I.e the full amount should cover everything including fees etc. So if use this approach can understand why not full amount is used to buy.

I think this approach is not entirely wrong as investor we put RSP X dollars we don't want to later see the whole completed transaction cost X + Y dollars? But in another way, investor may grumble now market downturn should get for us more units/shares based on our input RSP amount instead? Hmmm

Now is 11 May 2022 you should get the full fee breakdown from your statement for that RSP stock. Check inside the fees etc.

 

[direbmem]

Hi, I have a question regarding RSP on FSMOne. I set up a RSP earlier this month, S$1250 monthly for a stock on the NYSE.
Just had the first deduction and confirmation but noticed that only S$1228.48 was deducted from my Cash Account. I assumed that as currently there is the 0% processing fee promotion, all S$1250 would be deducted to maximise the units purchased, anyone can advise why the full amount wasn't used? Thanks in advance!

ETF or stock? Didn't knowvcan dcacstock?

 

[lucky_]

ETF or stock? Didn't knowvcan dcacstock?

Yes sorry my mistake, I meant ETF. Will edit the post above, thanks!

Hi just to share I was using FSMOne RSP for ETF and it is same they do not utilize the full amount we enter. I was thinking of 2 possible reasons. For SGX ETF maybe they try to get full unit/share as much as possible? Another could be they need to buffer some allowance to pay for all trading related fees from the full amount we enter? I.e the full amount should cover everything including fees etc. So if use this approach can understand why not full amount is used to buy.

I think this approach is not entirely wrong as investor we put RSP X dollars we don't want to later see the whole completed transaction cost X + Y dollars? But in another way, investor may grumble now market downturn should get for us more units/shares based on our input RSP amount instead? Hmmm

Now is 11 May 2022 you should get the full fee breakdown from your statement for that RSP stock. Check inside the fees etc.

Hmmm thanks for the insights! I actually had fractional lots for this RSP (up to 4dp), so probably not that reason? The buffer allowance sounds feasible, but cos there's the current 0% processing fees for RSP, I assumed that the full RSP amount would be used to purchase the ETF. Also, if I'm not mistaken the fees for RSP are quite low (0.08% with min SGD/USD1), so in my case the buffer shouldn't be more than a couple dollars at most?

I checked the full fee breakdown in the confirmation note, the amount withdrawn is S$1228.48 and this is converted into USD which is then used fully to purchase the ETF. No mention of the remaining S$20+, which is just in the Cash Account unused.

No real issue here, I'm just curious and puzzled as to why the full amount set for RSP wasn't used and if that is the case for all RSPs.

 

[reddevil0728]

Yes sorry my mistake, I meant ETF. Will edit the post above, thanks!


Hmmm thanks for the insights! I actually had fractional lots for this RSP (up to 4dp), so probably not that reason? The buffer allowance sounds feasible, but cos there's the current 0% processing fees for RSP, I assumed that the full RSP amount would be used to purchase the ETF. Also, if I'm not mistaken the fees for RSP are quite low (0.08% with min SGD/USD1), so in my case the buffer shouldn't be more than a couple dollars at most?

I checked the full fee breakdown in the confirmation note, the amount withdrawn is S$1228.48 and this is converted into USD which is then used fully to purchase the ETF. No mention of the remaining S$20+, which is just in the Cash Account unused.

No real issue here, I'm just curious and puzzled as to why the full amount set for RSP wasn't used and if that is the case for all RSPs.

what did customer service say?

 

[limster]

Hi, I have a question regarding RSP on FSMOne. I set up a RSP earlier this month, S$1250 monthly for an ETF on the NYSE.
Just had the first deduction and confirmation but noticed that only S$1228.48 was deducted from my Cash Account. I assumed that as currently there is the 0% processing fee promotion, all S$1250 would be deducted to maximise the units purchased, anyone can advise why the full amount wasn't used? Thanks in advance!

EDIT: clarified my earlier mention of purchase of RSP stock, to RSP ETF

I think it has something to do with currency conversion and some sort of buffer. If you convert the currency yourself and fund the US$ RSP from the US$ account, they will use up nearly the whole amount - thats my experience from funding my HK$ RSP in HK$.

 

[Leaden]

FSMOne added the following ETFs to their RSP list,

HKEX: 9001 - Premia China USD Property Bond ETF
HKEX: 2809 - Global X China Clean Energy ETF
NYSE: MOO - VanEck Agribusiness ETF
NYSE: REMX - VanEck Rare Earth/Strategic Metals ETF
NASDAQ: BOTZ - Global X Robotics & Artificial Intelligence ETF

 

[Leaden]

FSMOne is on a RSP list adding spree.

BATS: MOAT - VanEck Morningstar Wide Moat ETF
NYSE: RSP - Invesco S&P 500® Equal Weight ETF
NYSE: DIA - SPDR® Dow Jones Industrial Average ETF Trust
NYSE: SPY - SPDR® S&P 500 ETF Trust
NYSE: IWM - iShares Russell 2000 ETF
NYSE: RAAX - VanEck Inflation Allocation ETF
NASDAQ: VPN - Global X Data Center REITs & Digital Infrastructure ETF
NYSE: VCR - Vanguard Consumer Discretionary Index Fund ETF Shares
NYSE: XLE - Energy Select Sector SPDR® Fund
NYSE: XLF - Financial Select Sector SPDR® Fund
NYSE: XLV - Health Care Select Sector SPDR® Fund
NASDAQ: QQQ - Invesco QQQ Trust

Still got a bit of time to add any of them to your RSP plan for 8 June deduction.

 

[duhduhduh]

I think from Dec onwards, FSM will no longer offer free commission for the monthly RSP.

Anyone knows what are other options for monthly RSP?

 

[WhiteStone]

I think from Dec onwards, FSM will no longer offer free commission for the monthly RSP.

Anyone knows what are other options for monthly RSP?

I bet will continue. FSMOne pattern is at first limited promo, then later on got enough demand then will extend to everyone.

Like their SGX flat fee. Initially only for high end client but now everyone also can.

FSMOne problem is their investment recommendation often tombalek. Say will up end up flat or down.