Is it true that there is no custodian fees will be charged for shares bought from the HongKong/USA market? - Seedly
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David Loh

Asked on 29 May 2019

Is it true that there is no custodian fees will be charged for shares bought from the HongKong/USA market?

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Didi Luo
Didi Luo
Level 3. Wonderkid
Answered on 06 Feb 2020

Not true for all platforms - For example, DBS charges clients 0.20% or a min. of S$100 per half-year for each foreign shareholding/market. So, if you have stocks in US and HK at any time during the half-year, you will be charged a min. of S$200 per half-yearly. Quite excessive - so, be careful. Better to trade elsewhere if you want to trade foreign stocks.

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Ferlyn Tan
Ferlyn Tan
Level 3. Wonderkid
Answered on 30 Sep 2019

Yes, there will be no custody fees! Just wanna add on to the comment about dividend handling fees - I think the majority of all the other Brokers charge dividend handling fees on all stock markets while FSMOne only charges for US market.

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Didi Luo
Didi Luo

06 Feb 2020

Can I transfer my foreign shareholding from DBS Treasures to FSMOne? I just found out that I am charged $100 for each foreign shareholding per half-yearly, regardless of balances and transactions by DBS. Excessive!
Ferlyn Tan
Ferlyn Tan

06 Feb 2020

Yup, that should be ok as long as your holdings can be found on FSMOne platform. Maybe you can drop them a call to check how the procedure will be like!

Yes but there are dividend handling fees for US market which can eat up alot of ur returns if you are starting small and focus on dividends.

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