Recommendations for best platform to purchase mutual funds? I am more familiar with analysing funds (part of my job scope). Also know how costs erode the returns which is why the platform to buy from plays a part too? - Seedly
Seedly logo
Seedly logo
 

Investments

Anonymous

Asked on 07 Jun 2018

Recommendations for best platform to purchase mutual funds? I am more familiar with analysing funds (part of my job scope). Also know how costs erode the returns which is why the platform to buy from plays a part too?

0 comments

7 answers

Answer Now

Answers (7)

Sort By

Ck Chai
Ck Chai
Level 6. Master
Updated on 07 Jun 2019

Apart from those that listed by Gabriel, there is also dollarDEX which is said to be of $0 Sale Charges, Switching Fees And Platform Fees. However, they do earn a portion of the annual management fee which is already embedded to the cost of the unit trust / fund. You can read more on https://www.dollardex.com/SG/index.cfm?current=/contents/faqearn&contentID=1767

1
👍
1
Luke Ho
Luke Ho

02 Jan 2019

I've actually researched dollardex. Competitive, certainly - but they don't look profitable. It's not likely they'll stay this cheap forever.
Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about
Post
Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Sep)

Level 10. Unicorn
Answered on 10 May 2020

As to "eroding costs" mutual funds (unit trusts) surely are to avoid.

better stay with passive indexing ETFs.

​​​

0
👍
0
Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about
Post
Aik Kai
Aik Kai
Level 7. Grand Master
Answered on 03 Aug 2018

I personally prefer FSM as i find their rates very competitive.

Their improved web interface makes the user experience better and they are rather upfront on their cost.

Besides, they carry quite a wide range of funds, although they are more Asian-focused I feel.

0
👍
0
Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about
Post
Brandan Chen
Brandan Chen
Level 7. Grand Master
Answered on 02 Aug 2018

FSM

0
👍
0
Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about
Post
Alan Seow
Alan Seow
Level 3. Wonderkid
Answered on 11 Jun 2018

Fund supermart is a good place to consider. As Warren buffett recommends. You might want to try an online brokerage to get Vanguard funds with a very low cost basis.

0
👍
0
Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about
Post
Luke Ho
Luke Ho
Level 7. Grand Master
Answered on 08 Jun 2018

Adding onto what is being said, you can also consider modern ILPs. I've found significantly good ones with Manulife, AIA and AXA. Most people don't like ILPs, but most people also don't even understand how they work - the article by Dollarsandsense is grossly outdated and BudgetBabe's article on it shows that back in 2016, she didn't even understand the difference between a par fund and an investment fund.

...well this reply isn't for unnecessary shot firing...

There are certain advantages to modern ILPs because all the platforms listed by Christopher How - and don't get me wrong, they are good platforms and I offer them as well because I am an FA - have an Account Fee. For some ILPs, depending on structure and if you mess around with the NaR, you can actually cap your fees after some years and only pay the management fee of the mutual fund itself. So if your time horizon is extremely long I usually need about 20 -25years for this to be significantly effective, it might actually be better to use an ILP, especially if its in line with your long term goal.

Some people complain about liquidity and surrender charges, but the reality is that if you save for a goal the money should be for that goal. If you break from it, you're just undisciplined.

0
👍
0
Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about
Post
Gabriel Tham
Gabriel Tham
Level 9. God of Wisdom
Answered on 08 Jun 2018

There are many platforms available so you have to compare the costs.

Most brokerages allow purchases of mutual funds/unit trusts. Just to list a few here:

  • POEMS

  • DBS Vickers

  • Standard Chartered online trading

  • Fundsupermart FSM

  • OCBC

0
👍
0
Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about
Post