facebookWhich platform do you use to buy ARK ETFs? FSMOne is saying I don't have access to the ETF because its a special investment product? - Seedly
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Dominic Cordeiro

Posted on 25 Nov 2020

Which platform do you use to buy ARK ETFs? FSMOne is saying I don't have access to the ETF because its a special investment product?

Hi guys, i wanted to buy ARKK today through FSMOne but was not able to make the transaction as it was considered a special investment product. May I know how i can go about purchasing ARKK? Is there any other platform which will let a new investor like me invest in ARKK?

0 comments

13 answers

Discussion (13)

Jonathan Chia Guangrong, Fund Manager at JCG Fund

Jonathan Chia Guangrong, Fund Manager at JCG Fund

Level 14. Grandmaster

Posted on 27 Nov 2020

TD Ameritrade. Zero comm for stock trades.

Account opening timeline is a pain now though from what I understand.

2

Wilson Leonardi

Wilson Leonardi

29 Nov 2020

Hi, can SaxoTraderGO be used for Arkk etf purchase ?

Jonathan Chia Guangrong

Jonathan Chia Guangrong

30 Nov 2020

Personally do not have a saxo account. But read on seedly that they have ridiculous fx conversion fees? No harm checking it out if you are comfortable with the broker.

Post

Rahul Wadhwa, Student Ambassador 2020/21 at Seedly

Rahul Wadhwa, Student Ambassador 2020/21 at Seedly

Level 9. Genius

Posted on 27 Nov 2020

As Ming Huat mentioned, you need to pass the CKA/CAR requirements before you can purchase the mentioned ETF on FSMOne. As it is a US-Listed ETF, it is considered an SIP.

Unfortuantely, if you do not meet the CKA/CAR requirements, FSMOne will not accept the SGX SIP quiz results (when I checked about a month ago).

You'll have to call in the helpline and get clearance before you are allowed to purchase this ETF.

Nonetheless, do drop them a call and check again, the regulatory process may have changed!

If you find this troublesome, I would reccomend going with another broker that accepts the SGX SIP quiz results to purchase SIPs, like TD Ameritrade or Tiger Brokers.

3

1 more comments

Rahul Wadhwa

Rahul Wadhwa

29 Nov 2020

@Jay, to be honest, I have not tried using the in app support, I've only tried it on the website. But assuming the platforms used are the same, the response time is pretty quick, no more than 5-10 mins. I personally feel the app is user friendly (although there are occasionally some untranslated bits), with interesting features (e.g. company's financial data, heatmaps of sectors etc)

Jay Hou

Jay Hou

30 Nov 2020

Oh wow

Post

S

S

Level 7. Genius

Posted on 25 Nov 2020

Kristal AI...

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