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?

Question

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?

Jonathan Chia Guangrong · Accepted Answer

TD Ameritrade. Zero comm for stock trades.

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

YJ · Answer

Poem got

S · Answer

Kristal AI

Seah Sihui · Answer

IBKR

Jesslyn · Answer

Kristal AI

Lin Yun Heng · Answer

I use ++**Firstrade. $0 trading fees, no custodian fees and free Morningstar Premium.**++ App is sick too. I wrote an article about it and you can check them out [**here!**](https://investingbeanstalk.wordpress.com/2020/08/30/what-i-use-to-purchase-us-stocks-introducing-firstrade/)

Nicholas · Answer

I believe you just have to complete an online quiz and submit the results to FSMone to be able to trade in SIPs. Do check with FSMone about it.

Jay Hou · Answer

While we dont time the market, & there is never a best time: i felt suddenly there is a rush into buying all sort of Etf esp after Biden won the presidential election & news of vaccine arriving, s&p rose and everything seemed to be up, up and up.... from bond etf to....

Isaac · Answer

Hopefully it not too late! 
As long as you meet the following criteria 
1. need to complete the CAR 
2. and be 21 and above

Caleb Seah Hua Xiang · Answer

IBKR

$0.35 per trade

Tiong Ming Huat · Answer

I personally bought ARKK from FSMOne, so I'm very sure it's allowed. I also did not possess any professional experience or education in finance.

You basically need to complete the CKA/CAR before you can buy any ETF, not just ARKK. I can't remember the exact process but I remember it's pretty fast, probably 15 minutes.

You can't escape this process, every legitimate broker will ask you to complete this. So just complete it and get it over with.

Only exceptions in FSMone are some ETFs that require you to call to order eg. ARKG. But basic requirements are the same.

Rahul Wadhwa · Answer

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.

Frankie Rappaport · Answer

TD Ameritrade