iFast launches FSMOne, one account to trade 'em all
By Chan Chao Peh / theedgemarkets.com.sg | December 8, 2016 : 7:40 AM MYT
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SINGAPORE (Dec 8): Fundsupermart.com, the consumer division of iFast Corporation, has launched FSMOne, a platform where customers can buy unit trusts, insurance, bonds as well as trade stocks and ETFs, via a single account.
FSMOne will be the first platform to offer permanent 0% sales charge on all funds for all clients. The new platform will also feature a more transparent fee structure. This includes stating clearly how big a cut it takes for selling insurance.
“Our continued push towards broadening the range and depth of investment products and services will strengthen our value proposition to our B2C clients and the investors community in their effort to achieve their wealth management goals seamlessly and in a transparent way,” says iFast chairman and CEO Lim Chung Chun.
In addition, iFast has also introduced FSM MAPS (My Assisted Portfolio Solution), which offers five different portfolios ranging for investors of varying risk appetites. Similarly, there will be no sales charge.
“While countries such as the US have seen the popularity of robo-advisory portfolios among the millennial crowd, our version of the robo-advisory portfolios is meant to automatically provide ready-made investment solutions to investors who want to invest without the stress,” says Lim.
FSMOne clients can also invest in more than 500 bonds with a minimum sum of just $5,000.
FMSOne also offers a platform for stock traders to buy and sell, paying commission of just 0.12% for stocks and 0.08% for ETFs. The minimum charges for Singapore listed stocks is just $10 and for Hong Kong counters, HK$50.
iFAST closed 1 cent higher at 83 cents on Wednesday.
