Posted on 25 Nov 2020
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?
Rahul Wadhwa, Student Ambassador 2020/21 at Seedly
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.
1 more comments
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)
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