facebookIs it safe to invest via FSM? How reliable are they? - Seedly

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Anonymous

17 Apr 2020

∙

General Investing

Is it safe to invest via FSM? How reliable are they?

As FSM is a custodian, just wondering what would happen to my stocks if the company ceases?

Discussion (3)

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Colin Lim

Colin Lim

17 Apr 2020

Financial Services Consultant at Colin Lim

Mas regulate all the financial institutions. FSM has been around for many years...there are many users under this platform and every trade, they charge a fee so that they are able to sustain their cost.. so yes, it is safe. Fsm is 1 of the popular platform in SG.

LOk Yang teng Has touch on 2 points .

The company has been around since 2000 and SPH is one of the shareholders. To assuage your concerns,

  • "The creditors of iFAST will have no claim over your assets."

  • "In the unlikely event that iFAST Financial ceases as a business concern, with your permission, all your assets will be transferred to another distributor. Either that, or they will be returned to you."

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