FSMOne web platform

[MichealScott]

After much consideration, i hv decided to switch my IWDA (SCB) to VT (FSMOne RSP). I'm fully aware of the witholding tax and estate tax issue with US ETF, but the cost saving is quite significant.

As I am investing S$800/mth for IWDA/VT, this is my comparison.

1) SCB forex spread = 0.4%, FSMOne forex spread = 0.25%
2) SCB brokerage fees = $10.7 * 4 (batch 3 mths), FSM brokerage fees = $1.07 * 12
3) IWDA witholding tax = 15%, VT witholding tax = 30%. Assuming dividend at 2% pa, the saving from IWDA is 0.3%. (corrected)
4) IWDA TER = 0.2%, VT TER = 0.09%
5) FSMOne has dividend handling fees of $2.5 per dividend. So its $10 per year of dividend loss.

Based on the above number, I use the spreadsheet created by another forummer, VT annual fees is S$43 (include dividend handling fees) vs IWDA S$96 (didn't include opportunity cost).
However, this comparison only applicable to my case.

Interesting...if IWDA is available on FSM, would you switch back to IWDA?

 

[htngwilliam]

Actually IWDA vs S&P500 (LSE, VOO) almost similar right? The whole TOP 500 companies more or less in US

 

[5408854088]

So fast today website down after the news... Really CMI. To have unstable trading platform is a big NO NO

anyway that news was dated 4 May. then just nice have maintenance on 9 May. even big brokerage firms will have issues from time to time. unless you really so zhun when want to trade then got issues

https://www.bloomberg.com/news/arti...-broker-s-computers-and-inflicted-huge-losses

 

[5408854088]

Is FSMOne down for everyone? Why do I see a maintenance msg on the site but it's stated that they're doing scheduled maintenance on Sat, 9 May. A bit worried because my RSP money got deducted on the 8th but I did not see an increase in my invesment holdings on that day. Was going to see if it gets updated today but then now it's down during trading hours???

EDIT: message on their website was edited to remove the date of maintenance. seems like really just website down...

Yess mine down. They removed the initial date (09/05)

not sure about morning, but now it seems fine. no need to worry also, they will update one.

 

[5408854088]

Actually IWDA vs S&P500 (LSE, VOO) almost similar right? The whole TOP 500 companies more or less in US

slightly different. IWDA is 65.58% in US, VOO is 100% in US. tracking different things also.

https://www.ishares.com/uk/individual/en/products/251882/ishares-msci-world-ucits-etf-acc-fund

https://investor.vanguard.com/etf/profile/overview/voo

 

[5408854088]

any idea how long it will take to activate US stock trading after submission of W-8BEN?

 

[micgoh]

Hi just a check.

SCB online trading platform is : 0.25% or min 10

for FSMone, to trade US market , is 0.12% or min 10, is it?

 

[herzog]

any idea how long it will take to activate US stock trading after submission of W-8BEN?

You just confirmed an online form pre-filled by FSM and almost immediately get activated.

 

[makav31i]

Hi just a check.

SCB online trading platform is : 0.25% or min 10

for FSMone, to trade US market , is 0.12% or min 10, is it?

Refer to this photo...

 

[5408854088]

Hi just a check.

SCB online trading platform is : 0.25% or min 10

for FSMone, to trade US market , is 0.12% or min 10, is it?

FSMOne charge 0.08% minimum USD 8.80

can check the pricing structure for more information

https://secure.fundsupermart.com/fsm/new-to-fsm/pricing-structure

 

[klanddt]

My RSPs were transacted today and showing on my account now.

if 8th is a working day, then the transaction will take place at the next working day. Today is the next working day.

Is FSMOne down for everyone? Why do I see a maintenance msg on the site but it's stated that they're doing scheduled maintenance on Sat, 9 May. A bit worried because my RSP money got deducted on the 8th but I did not see an increase in my invesment holdings on that day. Was going to see if it gets updated today but then now it's down during trading hours???

EDIT: message on their website was edited to remove the date of maintenance. seems like really just website down...

 

[5408854088]

You just confirmed an online form pre-filled by FSM and almost immediately get activated.

steady

 

[5408854088]

maybe moderators can help update the thread title from "0.12% and min $10" to "0.08% and min $10" to avoid confusion

 

[micgoh]

FSMOne charge 0.08% minimum USD 8.80

can check the pricing structure for more information

https://secure.fundsupermart.com/fsm/new-to-fsm/pricing-structure

that's cheaper than SCB!! isn't it?

Do they have inactive fees like Interactive Broker, or any annual charges?

I know SCB is very straight forward. Let say I buy USD500 worth of share A. SCB will charge me the 0.25% of USD 500 + conversion fees from SGD to USD.

is FSMONE similar, charging 0.08% of USD 500 and their conversion fees from SGD to USD?

 

[makav31i]

maybe moderators can help update the thread title from "0.12% and min $10" to "0.08% and min $10" to avoid confusion

Maybe people should read the FSM website for the commission fees...

 

[herzog]

Do they have inactive fees like Interactive Broker, or any annual charges?

None. I have my account a long, long time ago. But didn't use for a long time. Only about half a year ago started to use again. So far no penalty nor inactivation nor closure

 

[wutawa]

that's cheaper than SCB!! isn't it?

Do they have inactive fees like Interactive Broker, or any annual charges?

I know SCB is very straight forward. Let say I buy USD500 worth of share A. SCB will charge me the 0.25% of USD 500 + conversion fees from SGD to USD.

is FSMONE similar, charging 0.08% of USD 500 and their conversion fees from SGD to USD?

Your example is bad. Both brokers will charge the min comms because the trade amount too little.

Scb has the highest comms rate among all prefunded brokers.

Fsm fx fee also lower than scb

But that's not the end of the story..

 

[micgoh]

Maybe people should read the FSM website for the commission fees...

got commission ? I thought the website says 0% sales charges for all funds?

means the only charge is 0.08% or min USD10/ USD 8.80 (depending on the market)?

 

[micgoh]

Your example is bad. Both brokers will charge the min comms because the trade amount too little.

Scb has the highest comms rate among all prefunded brokers.

Fsm fx fee also lower than scb

But that's not the end of the story..

bro im new. can you share an example ? let say with USD 500, how will each broker charge me?

 

[wutawa]

Ok,
Scb: $500 × 0.25% = $1.25 but $10
Fsm: $500 × 0.08% = $0.40 but $8.80

Scb: $20k × 0.25% = $50
Fsm: $20k × 0.08% = $16