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? - Seedly
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Dominic Cordeiro

Asked 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?

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    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.
    Thank You!
    Can you clarify
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    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.

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    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
    Thank You!
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    S

    S

    Level 4. Prodigy

    Answered on 25 Nov 2020

    Kristal AI

    0

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    Frankie Rappaport

    Frankie Rappaport

    Level 10. Unicorn

    Answered on 27 Nov 2020

    TD Ameritrade

    0

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    Tiong Ming Huat

    Tiong Ming Huat

    Level 2. Rookie

    Updated on 27 Nov 2020

    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.

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    IBKR

    $0.35 per trade

    0

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    I

    Isaac

    Level 4. Prodigy

    Answered on 27 Nov 2020

    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

    0

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    Jay Hou

    Jay Hou

    Level 5. Genius

    Updated on 27 Nov 2020

    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....

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    N

    Nicholas

    Level 2. Rookie

    Answered on 27 Nov 2020

    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.

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    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!

    0

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    Kristal AI

    0

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    Seah Sihui

    Seah Sihui

    Level 2. Rookie

    Answered on 25 Nov 2020

    IBKR

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    Poem got

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