FSMOne web platform

[makav31i]

Some people want the automation.

And if you are going long term and doing a DCA, it is recommended to just do a fixed day conversion and ignore timing for the best exchange rate.

The same like you ignore the "best" price to purchase monthly. Just execute on a fixed day.

Just my 2 cents.

I can see the appeal of letting a fixed conversion instead of timing the currency conversion for convenience sake...I just changed the currency as I feel at that time that the USD is quite cheap and I saved a few SGD...I think it is more of me testing how FSM works that's why you see me depositing, converting and withdrawing from FSM...

Since I am paid in SGD, I would rather set a budget in SGD and convert the amount to USD as it wouldn't make sense for me to set the amount in USD and have different amount being deducted from my bank account each month...I would rather set how much SGD I want to change to USD and change my USD investment amount...

Just my 2 cents...

 

[Mecisteus]

Did you do the Cash top up plan? Must we mail the DDA form physically??

No.

I just create a recurring FAST transfer from bank to FSM to execute on the beginning of each month.

 

[revhappy]

I bought 50k worth ES3 today and I was charged fee of $30+, shouldn't it be $10+?

 

[limster]

I bought 50k worth ES3 today and I was charged fee of $30+, shouldn't it be $10+?

In November 2017, FSMOne.com also became the first retail broker in Singapore to offer a permanent flat fee of S$10 when trading SGX stocks/ETFs for our Gold & Diamond clients, regardless of their investment amount.

With effect from 18 January 2020, we will be extending the S$10* flat fee commission rate for SGX stocks/ETFs to Silver clients permanently. Now, other than our FSM Diamond & Gold clients, our Silver clients will also get to enjoy lower trading costs!

https://secure.fundsupermart.com/fs...ients-permanent-s-10-flat-fee-trading-for-sgx

Confirmed $10 for silver, gold and diamond clients. Which tier are you?

 

[revhappy]

https://secure.fundsupermart.com/fs...ients-permanent-s-10-flat-fee-trading-for-sgx

Confirmed $10 for silver, gold and diamond clients. Which tier are you?

Right now I have only 50k in it. But this promotion is older promotion, which runs until Mar, regardless of tier it is supposed to be $10 flat. It is their anniversary promotion.

https://secure.fundsupermart.com/fs...otion-enjoy-s-10-flat-fee-for-sgx-stocks-etfs

 

[lsthekiddo]

Right now I have only 50k in it. But this promotion is older promotion, which runs until Mar, regardless of tier it is supposed to be $10 flat. It is their anniversary promotion.

https://secure.fundsupermart.com/fs...otion-enjoy-s-10-flat-fee-for-sgx-stocks-etfs

CDP clearing fees and SGX trading fees + GST.

 

[revhappy]

CDP clearing fees and SGX trading fees + GST.

Oops, you are right, so the clearing fee + trading fee adds to 0.04% which can be significant. I didn't know this. Thanks.

 

[limster]

Oops, you are right, so the clearing fee + trading fee adds to 0.04% which can be significant. I didn't know this. Thanks.

wow not easy to keep track of all these promotions, guess the other SGX fees are pretty steep

 

[highsulphur]

Oops, you are right, so the clearing fee + trading fee adds to 0.04% which can be significant. I didn't know this. Thanks.

You have to pay that regardless which broker you use anyway

 

[revhappy]

You have to pay that regardless which broker you use anyway

Yes, I understand. I just thought they would be small and negligible. But they are quite substantial.

 

[MichealScott]

No.

I just create a recurring FAST transfer from bank to FSM to execute on the beginning of each month.

Oh.. don't need to create a Cash top up plan? Or still need but don't need do the DDA form? I was still thinking of whether to just create a recurring fast transfer from my bank

Sent from Stamford Bridge using GAGT

 

[makav31i]

Oh.. don't need to create a Cash top up plan? Or still need but don't need do the DDA form? I was still thinking of whether to just create a recurring fast transfer from my bank

Sent from Stamford Bridge using GAGT

So long as the money comes in before the "Next RSP/Topup Date", it doesn't matter how you get the money into your account...I only use PayNow to send money to my account...

 

[creatrixnator]

The cash top up plan is broken now ! It deducts on the same day as is needed by the rsp so its too late for the rsp *
I think they might hv mentioned that on the many words on screen when setting up but was too confusing for me

They said they will fix it.

I think I will terminate it and go for FAST. Didn’t know can do that

Oh.. don't need to create a Cash top up plan? Or still need but don't need do the DDA form? I was still thinking of whether to just create a recurring fast transfer from my bank

Sent from Stamford Bridge using GAGT

 

[makav31i]

The cash top up plan is broken now ! It deducts on the same day as is needed by the rsp so its too late for the rsp *
I think they might hv mentioned that on the many words on screen when setting up but was too confusing for me

They said they will fix it.

I think I will terminate it and go for FAST. Didn’t know can do that

What I do is transfer a fixed amount in SGD via PayNow on my payday and convert the money to USD as and when I feel like it so long as as it is before the next top up date...

 

[lancer6238]

You can let FSM to do the conversion automatically.

The conversion can be automated? I currently have a standing instruction to transfer SGD to my FSMOne account, but I have to manually convert to HKD (I'm RSP-ing in HKD). The CSO told me it has to be done manually.

 

[Mecisteus]

The conversion can be automated? I currently have a standing instruction to transfer SGD to my FSMOne account, but I have to manually convert to HKD (I'm RSP-ing in HKD). The CSO told me it has to be done manually.

Recurring Cash Top up Plan
Cash Account Top-Up Plan (CAT) application is available for all currencies. This will allow you to preset your cash top up amount and frequency according to your instructions.

You can now apply for a Recurring Cash Account Top-up (CAT) into your preferred Cash Account Currency. Set up your top-up application using GIRO (Direct Debit Authorisation - DDA) using your preferred SGD Bank Account. The deduction will take place automatically upon approval. For your convenience, you can also arrange for a recurring cash top-up for other Cash Account Currencies but please note that Foreign Exchange Conversion will apply and prevailing rates are subjected to change.

 

[MichealScott]

The conversion can be automated? I currently have a standing instruction to transfer SGD to my FSMOne account, but I have to manually convert to HKD (I'm RSP-ing in HKD). The CSO told me it has to be done manually.

You just set up a standing instruction from the bank side? No need do anything from the FSM side?

Sent from Stamford Bridge using GAGT

 

[kurtgoh]

had my first deduction for RSP, ES3 with FSM.

1k, they are taking only 1.50, really cheaper than posb

 

[MichealScott]

had my first deduction for RSP, ES3 with FSM.

1k, they are taking only 1.50, really cheaper than posb

Do you know when will they make the purchase? Mine also deducted but can't see it under my holdings

Sent from Stamford Bridge using GAGT

 

[klanddt]

Do you know when will they make the purchase? Mine also deducted but can't see it under my holdings

Sent from Stamford Bridge using GAGT

It is usually on the next day after they deducted your cash on 8th. The execution notes will follow shortly after. I would expect within today or tomorrow.