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Anonymous

10 Nov 2020

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General Investing

Hi, I have a question about FSMOne. What does no platform fees mean? Does it mean if I choose to buy say $200 worth of ETFs today, I just pay the 0.08% fees for buying in?

And if I don't do anything, I don't have to pay anything? Until I choose to sell then I'll pay the 0.08% fees? Newbie here, please help! Thank you!

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Jing Wei

10 Nov 2020

If you invest only $200, you will have to pay the minimum brokerage fee which is not just 0.08%. There is a minimum brokerage fee for almost all brokers in Singapore so you have to look into that.

FSMone don’t change an annual platform/ custodian fees, so it means you don’t have to pay anything annually. BUT FSMone charges a dividend handling fee. So you have to pay FSMone everytime your ETF distribute dividends. Sadly, there is a minimum dividend handling fee. For $200 investment, FSMone will take away all the dividend. technically, you won’t be receiving any dividends thanks to the minimum dividend handling fee.

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