FSMOne web platform

[reddevil0728]

Not to mention min usd 20 commission.

seems IBKR makes more sense?

 

[highsulphur]

seems IBKR makes more sense?

Yeah in terms of fx, brokerage charge (0.05 vs 0.15%) and min brokerage (1.70/4 vs 20)

 

[Leaden]

The fees for lse counters almost doubled that of usa counters. 0.08% and 0.15%.

Yeah. But under fsmone rsp, it's 0 buying fees.

 

[highsulphur]

Yeah. But under fsmone rsp, it's 0 buying fees.

Its probably imputed into the price and fx rate

 

[sohguanh]

Yeah. But under fsmone rsp, it's 0 buying fees.

I suspect how fsmone work is they consolidate everyone rsp and then place a single buy to enjoy economies of scale. This strategy require many customers rsp to their specified list of ETF.

 

[sibeiTrolled]

Those using fsmone rsp, i think they just added USD etfs.
IDAP, MEUS, VWRA, SWRD, ISAC, IWDA, AGGU, IEMA, EIMI, JPEA, LCJD, VUAA, IUAA

For each ETF RSP Buy order instruction only 0.15% / min GBP 1

How come RSP is in GBP but purchase is through USD

Well, its good for those people who are interested in LSE and don't wish to use IBKR i guess.

 

[twosix]

Yeah. But under fsmone rsp, it's 0 buying fees.

You’re right. 0% fees for 2024. Can RSP…

 

[reddevil0728]

Yeah. But under fsmone rsp, it's 0 buying fees.

nothing is free one. if it is totally free. u should be worried

 

[sibeiTrolled]

You’re right. 0% fees for 2024. Can RSP…

UPDATE 26 Mar 24 7.54PM : NO FEES as i was mistaken!

This is for platform fees.
There is the base fees for RSP as well

Example VOO
For each ETF RSP Buy order instruction only
0.08% / min USD 1
For each ETF RSP Sell order instruction only
0.08% / min USD 3.80
For each ETF RSP Sell - Odd lot (Lot size below minimum lot size) or fractional shares
0.08%, no minimum or flat fees

Example VWRA
For each ETF RSP Buy order instruction only
0.15% / min GBP 1
For each ETF RSP Sell order instruction only
0.15% / min GBP 15
For each ETF RSP Sell - Odd lot (Lot size below minimum lot size) or fractional shares
0.15%, no minimum fees

And Yes, i paid these fees during my RSP buy sell despite having the 0% platform fees promo

UPDATE 26 Mar 24 7.54PM : NO FEES as i was mistaken!

 

[Leaden]

For each ETF RSP Buy order instruction only 0.15% / min GBP 1

How come RSP is in GBP but purchase is through USD

Well, its good for those people who are interested in LSE and don't wish to use IBKR i guess.

My guess is they didn't bother to update since it's 0 buying fee for some years already.

I think for USD etfs, the fees will still be charged in USD. Previously, I RSP a USD etf from SGX, the fee was charged in USD, instead of SGD.

 

[Leaden]

This is for platform fees.
There is the base fees for RSP as well

Example VOO
For each ETF RSP Buy order instruction only
0.08% / min USD 1
For each ETF RSP Sell order instruction only
0.08% / min USD 3.80
For each ETF RSP Sell - Odd lot (Lot size below minimum lot size) or fractional shares
0.08%, no minimum or flat fees

Example VWRA
For each ETF RSP Buy order instruction only
0.15% / min GBP 1
For each ETF RSP Sell order instruction only
0.15% / min GBP 15
For each ETF RSP Sell - Odd lot (Lot size below minimum lot size) or fractional shares
0.15%, no minimum fees

And Yes, i paid these fees during my RSP buy sell despite having the 0% platform fees promo

Strange. You may want to contact FSMOne on the buying fees you are charged, could be a mistake.

It should be 0 buying fee if you RSP VOO or VWRA, since for US and London, there are no other buying fees like exchange fees, thus no gst charged. And there are no fsm platform fees for ETFs.

And yeah, the 0 fee promo that had gone on for years is only for RSP buying, not for selling. So, you'll be charged as usual for RSP selling.

 

[twosix]

Anyway i will try. 0.07% to RSP voo is ok for me.

 

[sibeiTrolled]

It should be 0 buying fee if you RSP VOO

Oh dam, right
I check back some my old records, and yes, no fees.
Only fees are applicable for my HKEX ETF as Exchange Settlement Fees

Ya, i guess they just left the fees there

 

[highsulphur]

Oh dam, right
I check back some my old records, and yes, no fees.
Only fees are applicable for my HKEX ETF

Ya, i guess they just left the fees there

what are the spread on FX? They could be making from there.

 

[sibeiTrolled]

what are the spread on FX? They could be making from there.

Previously just used FSMOne as a training platform so that purchase was back in 2021, 2022 and didnt have IBKR acount.
So not sure of the spread back then

26 Mar 2024 FX
FSMOne @ 8PM
1 SGD -> 0.741768

IBKR @ 8.01PM
1 SGD -> 0.744

 

[twosix]

Ya, compared to IBKR, they will have to make money from the spread.
Previously just used FSMOne as a training platform so that purchase was back in 2021, 2022.

26 Mar 2024 FX
FSMOne @ 8PM
1 SGD -> 0.741768

IBKR @ 8.01PM
1 SGD -> 0.744

Reasonable spread.

 

[Needmysleep]

My usual investment broker of choice has been FSM however I'm keen on dropping funds which seem to be charging ' excess ' investment/management fees.Also I think that my choices of funds are random and not really the best way to go about doing things.

I want to investment $5-10k per month and from my random reading understand that CSPX is a decent enough choice due to it being Ireland domiciled.However FSM seems to make it extremely difficult to buy lots - I keep getting a incorrect lot price error when I try to buy ETFs on FSM.

And Tiger brokers doesn't allow buys on the LSE.

1. Is CSPX good for a long term hold ?
2. Which broker is recommended - I have FSM ( pain in the rear trying to buy ) , Tiger ( doesn't feature LSE yet ) and a DBS bank account ( dont know if Vickers allows purchases on LSE or if it is expensive to use Vickers)

Any tips



^ the error on FSM

 

[sibeiTrolled]

s CSPX good for a long term hold ?

CSPX, like VOO, is a S&P500 Index.
If you think prefer focusing on US markets, then its good for you

Which broker is recommended - I have FSM ( pain in the rear trying to buy )

Alternative broker is Interactive Broker (IBKR)
You can sign up and try. But some might find it hard to use.

For your issue, maybe try buying through your phone app? Or contact support
Cant help much as i do not have monies in my USD account to recreate that error

I want to investment $5-10k per month

If so, maybe you can try the RSP method?

 

[Needmysleep]

CSPX, like VOO, is a S&P500 Index.
If you think prefer focusing on US markets, then its good for you


Alternative broker is Interactive Broker (IBKR)
You can sign up and try. But some might find it hard to use.

For your issue, maybe try buying through your phone app? Or contact support
Cant help much as i do not have monies in my USD account to recreate that error

Quite noob at this .

 

[sibeiTrolled]

Quite noob at this .

Everyone is a noob / newbie at first. Got to start somewhere.

Good Luck!