Is there a need to diversify across different investment platforms (DBS IS, Syfe, FSMOne) or better to stick to one? What are the chances that one platform goes bust?

I personally stick to Standard Chartered Trading.

You mention long term.

Long term wise, once you accumulated more Assets Under Management (AUM) with Standard Chartered Bank and reach priority banking, you get perks like no minimum brokerage fees, where you can literally buy one share and be charged the brokerage fee of that one share only, subject to no minimum brokerage fee. How cool is that?

There are also no holding fees or custodian fees involved.

From Standard Chartered Trading also: These securities are held on trust by the Bank or its nominee. The clients are the beneficial owners of these securities. In the unlikely event that the Bank becomes insolvent, such securities held on trust are not subject to the claims of the Bank’s creditors. This is because the securities are held on trust by the Bank or its nominee as custodian, and are kept separate from the Bank’s own assets.

So in the event Standard Chartered does go bust, you still own the shares. As such, no worries man.

Cheers.

- Jeffrey (jeffreyleezq.com)​​​

Hi Senna,

If that's a risk you're worried about, then perhaps it's something worth considering. Although something to consider is how risky is it really to have them all on one platform? All of these platforms are regulated by MAS, which has very strict requirements - so that in itself should provide some assurance. Also, I believe that even if they do go bust, but if the institution that holds the securities on behalf of these platforms don't go bust, then your investments are safe nonetheless, although it may require some admin work on your part (not too familiar with this).

At the end of the day, it's your money and your risk appetite. Even if no on else in the world thinks it's necessary, as long as you're worried about that risk, then it's necessary to you and it's something you should go ahead with.

Hope this helps!

Regards,
thefrugalstudent