FSMOne web platform

[MaoZeDuo]

Understood, thanks for sharing. Will try to figure out this "automatic topup".

I only do that so that I can fully utilize every single cent that I can invest as the only thing that is within my control is the amount I can invest in SGD...At the end of the day, you have to decide for yourself on how involved you want to be or a hands off approach... Don't think there is no right or wrong as it is up to individual preference...

 

[MaoZeDuo]

Under FAQ fyi

In conjunction with the enforcement of new CPFIS restrictions, FSMOne has implemented new procedures to ALL RSP Plans effective from April 2008 onwards:

To prevent the possibility of failed trades, the monthly deduction date for Direct Debit/GIRO, CPFIS-OA, CPFIS-SA and SRS RSP deductions will be standardised at 3 business days before the RSP subscription date.
The monthly deduction date from Cash Account will be on 8th of every month, or the next business day if the 8th is a non-business day.
RSP will be terminated automatically after 3 consecutive failed RSP deductions. An email will be sent to notify the investors of the voided RSP. On top of this, FSMOne will also send a reminder email to the respective RSP investors after 2 consecutive failed RSP and before the 3rd RSP deduction.
For CPFIS-OA, CPFIS-SA and SRS RSP application, the cut off is 12pm of 2nd last working day of the month in order to take effective on the following month.

For RSPs (it deducts on 8th every month) - so we need to guarantee to have the funds inside on every 8th right?

But say I buy a US ETF on RSP with 100USD/month, I just need to ensure there's 100USD in the account right?

 

[MaoZeDuo]

Found the option to set up DDA for usd cash account. Just not sure if the conversion is done on the bank's end or fsm...

Would like to know this as well, if i have to login and manually convert then what is the point of RSP.

 

[duhduhduh]

Under FAQ fyi

Found the option to set up DDA for usd cash account. Just not sure if the conversion is done on the bank's end or fsm...

Yup saw this. Just a bit unclear on the part of how much SGD I should park so they can do the conversion. I suppose they don't do the conversion for me, unless I put it on the auto sweep?

Funding of trade on FSM via CASH (my understanding - correct if wrong:
1) Either you have sufficient balance in the CCY account (e.g USD)
1A) Which you may deposit SGD and do a FX accordingly
1b) Which you may deposit USD from your other bank accounts
2) Opt for the Auto-Sweep account (and FSM will handle it automatically for you)

Correct me if I am wrong?


Btw for RSP - we cannot choose the date they process the buy/sell right?

 

[5408854088]

Would like to know this as well, if i have to login and manually convert then what is the point of RSP.

think for now have to convert the currency yourself then you leave the money there. the thing is that this currency conversion is still a transaction between buyer and seller. also some people may want more control over fx rates than leaving it automated.

 

[5408854088]

I did my conversion manually, so I can't tell if it will auto convert and deduct...I personally feel it is better to convert yourself and you can edit your RSP amount to utilize every last cent...My RSP amount is different each month...For ES3, I have a fixed amount which I contribute each month plus whatever that was refunded the previous month...For VT, I have a fixed SGD contribution each month and I will use the amount of USD that I got after converting to set the RSP amount for the month...

I only do that so that I can fully utilize every single cent that I can invest as the only thing that is within my control is the amount I can invest in SGD...At the end of the day, you have to decide for yourself on how involved you want to be or a hands off approach... Don't think there is no right or wrong as it is up to individual preference...

good idea

 

[5408854088]

For RSPs (it deducts on 8th every month) - so we need to guarantee to have the funds inside on every 8th right?

But say I buy a US ETF on RSP with 100USD/month, I just need to ensure there's 100USD in the account right?

ya just ensure you have your USD there can already. have it there before 8th of every month. can refer to question 9 and 13 of FAQ.

https://secure.fundsupermart.com/fsm/advice-services/faq/2073/

 

[5408854088]

Yup saw this. Just a bit unclear on the part of how much SGD I should park so they can do the conversion. I suppose they don't do the conversion for me, unless I put it on the auto sweep?

Funding of trade on FSM via CASH (my understanding - correct if wrong:
1) Either you have sufficient balance in the CCY account (e.g USD)
1A) Which you may deposit SGD and do a FX accordingly
1b) Which you may deposit USD from your other bank accounts
2) Opt for the Auto-Sweep account (and FSM will handle it automatically for you)

Correct me if I am wrong?


Btw for RSP - we cannot choose the date they process the buy/sell right?

don't think can choose the date. can refer to 11, 13 and 19 of FAQ.

https://secure.fundsupermart.com/fsm/advice-services/faq/2073/

 

[5408854088]

 

[5408854088]

I noticed the 1% or min USD 2.5 fee for US ETF dividend can eat significantly into the suggested VT RSP, especially when investing XXX amount per month. Hence is there a target minimum investment amount that you all are aiming for, so that this fee won't eat too much into the annual dividend returns?

can refer to the table above for reference

 

[ceecookie]

Thanks for the helpful chart. Noticed one slight typo - the broker dividend fee for the $1000 RSP is errenously calculated at 10% for the Q2-Q4 dividends.

 

[milton92]

Thanks for the helpful chart. Noticed one slight typo - the broker dividend fee for the $1000 RSP is errenously calculated at 10% for the Q2-Q4 dividends.

Actually if you look carefully, it is all 10% instead of 1%

 

[5408854088]

 

[5408854088]

Thanks for the helpful chart. Noticed one slight typo - the broker dividend fee for the $1000 RSP is errenously calculated at 10% for the Q2-Q4 dividends.

Actually if you look carefully, it is all 10% instead of 1%

thanks for highlighting! missed out one zero and corrected it in the table above. so now the investor gets to earn an extra US$6.727

 

[thisislife]

is there a difference between buying ETF directly and buying through RSP?

 

[wutawa]

The min fee?

 

[5408854088]

is there a difference between buying ETF directly and buying through RSP?

largely depends on how you plan to invest.

https://blog.seedly.sg/dollar-cost-averaging-vs-lump-sum-investing/
https://blog.seedly.sg/which-regular-savings-plan-is-the-cheapest/

 

[binary_0011]

btw, do you folks use FSMone to track prices or to buy/sell stocks only? I find that FSMone interface very ugly and not user friendly. Typical local design..The graph also CMI.

What platform are you folks using to track prices? With watchlist,screener and stuff..

 

[thisislife]

btw, do you folks use FSMone to track prices or to buy/sell stocks only? I find that FSMone interface very ugly and not user friendly. Typical local design..The graph also CMI.

What platform are you folks using to track prices? With watchlist,screener and stuff..

i use finviz, it's bland, but it's good enough, but real time quote not free

or use google finance but with delay of seconds

 

[Potato89]

Anyone can share your excel spreadsheet on how you track your investment? Preferably with graphs etc.