FSMOne Fundsupermart Reviews and Comparison - Seedly
 
FSMOne Fundsupermart
4.3
8 reviews
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Reviews (8)
4.3
Reviews (8)
4.3
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  • I've been using FSMOne to buy US and HK shares since January 2018. I've been a happy client so far. Cheap commissions and great customer service are what set FSMOne apart. I also like that I can do quick fund transfers into their local bank account and once that goes through, I can instantly convert currencies from SGD to USD/HKD. However, I've got my reservations when it comes to buying Singapore-listed stocks as they will not be parked under CDP, but under their custodian account. Having said that, I sell my Singapore stocks through FSMOne to enjoy the lower commissions. FSMOne allows selling from CDP. Overall, I would recommend people to use FSMOne as their broker.
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  • FSMOne is the first and only brokerage I've ever used, so I can't compare it to the others. I primarily chose it due to its low commission fees. Then I realised that if your orders are less than S$11k on each transaction (which mine usually are), you'll just be charged the minimum fees ($10). This sounds really low compared to the the other brokerages ($20?), but FSMOne charges a fee on both buy and sell transactions whereas some of other brokerages charge fees on only buy transactions, so that's one thing to note. Overall it has been pretty okay. I trade mostly US stocks and the live feed has a 15 min lag time - this might be the same across all the platforms but I can't be sure of it as I haven't tried the rest. Could be a disadvantage if you're trying to lock in a price to buy/sell but miss it. Anyway, will likely stay with FSMOne for now as I don't see any urging reason to change out.
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    Chuan Lee
    Chuan Lee

    on 12 Sep 2019

    DBS Vickers costs 25+ to sell holdings, no cash upfront service.
  • Updated on 08 May 2019
    I have been use FSM for couples of weeks for now. UI is great compare to the rest, and portfolio analysis is comprehensive. One small issue is the valuation data of stocks, which sometimes doesn't tally with the data listed on SGX. Not sure why but i believe the data on SGX is more persuasive to me, maybe is the lag time between system data updates? Nevertheless, I would still recommend this platform to new users.
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  • Updated on 10 Jan 2019
    Low commission pretty good for sg and hk stocks. But they charge platform fees for unit trust and us stocks they charge dividend handling fees. Good for sg and hk stocks but dont use for unit trust or us stocks.
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  • Updated on 23 Sep 2018
    Easy to use, with a nice app that works very well. Commissions are low too! However, the stocks that you buy are held by them instead of being transferred to your CDP
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  • A one-stop platform for buying and selling of stocks, ETFs, bonds, mutual funds, etc. Brokerage fees and charges are competitive compared to other brokerages.
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  • One of the lowest minimum commission at $10. Custodian account similar to SCB but there are additional charges when one uses it to hold ETF... http://kpo-and-czm.blogspot.com/2017/06/ifast-fsmone-is-it-any-good.html
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  • Updated on 21 Feb 2018
    I have used FSM for nearly 10 years when I started to DIY my mutual funds instead of paying for ILP. Website is the best among all. Modern typography, nice graphs. Suitable for younger generations, but may be confusing for the elderly. Still have some not-so-intuitive behaviour in their new website revamp in 2017. Content is the best among all. They frequently produce good articles, product highlights and magazines, which seems unbiased. Love their dinner and investment seminars too. Think they hold event quarterly. You get to talk to the FSM investment advisors. Not to mention the many freebies collected over the years such as bluetooth speaker! CONs (only 1): That said, I ditch FSM because of the hefty platform fees, of up to 0.4% a year. More about that here http://just2me.com/2017/05/08/fundsupermart-platform-fee-is-a-killer/.
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Questions (5)

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Investments

FSMOne Fundsupermart

Hi, the management fee is part of the total expense ratio. For mother funds, they have their own layer of fees, however, for most fund houses, there is usually an internal arrangement that limits or even remove the fees arising from a fund feeding into a mother fund.

FSMOne Fundsupermart

FSM ONE

FSM One

Investments

Stocks

Ferlyn Tan
Ferlyn Tan
Level 1. Freshie
Answered 2w ago
Yes, there will be no custody fees! Just wanna add on to the comment about dividend handling fees - I think the majority of all the other Brokers charge dividend handling fees on all stock markets while FSMOne only charges for US market.

Investments

FSMOne Fundsupermart

No, you can't. You need a CDP account to apply for an IPO. Hope this Seedly post helps you in applying CDP https://blog.seedly.sg/step-step-guide-opening-stock-trading-brokerage-cdp-account-singapore/

FSMOne Fundsupermart

ETF

Endowus

MoneyOwl

Investments

Robo-Advisors

Unit Trust

Gregory Van
Gregory Van, Co-Ceo & Coo at Endowus
Level 3. Wonderkid
Answered on 02 Jul 2019
Dear Anonymous, My name is Greg, Co-CEO of Endowus. A broad index fund ETF is lower cost than Endowus. If you choose to go down this route, we encourage clients to buy ACWD (UCITS - 40bps) through a low cost broker (Interactive Brokers for example) and try not to be caught by a bid-ask spread. I would highly discourage buying US-listed ETFs, given the dividend withholding tax on these products that you should not be paying from Singapore. Note that you can claim back partial withholding tax on interest from bonds, but not on equity dividends. (Example: If equity dividends are 3% and the withholding tax is 30%, you end up paying up to 90bps more unnecessarily, so what you thought was low cost actually becomes quite high cost.) I think that passive is a great strategy, but systematic, such as DFA, lets you access superior implementation which will drive better returns over the long run, and a strategy you can stick with through market cycles. An example of this implementation is Dimensional’s diversification and systematic tilts. In a single fund exposed to the entire world, there are over 10,000 securities, with a systemcatic overweight to the long-term risk premiums of small cap, value and profitability, versus the MSCI ACWI commercial index which is exposed to 2,000+ securities at a market cap weight. We expect this to generate alpha over the long-run, as it has through the long history of market data. Taking this position in the market also exposes you to tracking error (away from the commercial index), so you have to be comfortable with inconsistently winning and losing to the benchmark through your investment journey. Note that the fund level cost of the DFA fund described is 43bps, and Endowus fees range from 25bps to 60bps (all-inclusive of account creation, holistic advice, portfolio creation, intelligent rebalancing, brokerage, platform fee). DFA can be accessed through financial advisors like Endowus, MoneyOwl, Providend, though you are right in that there are additional asset based fees involved. We have run some analysis and over the long run, given DFA's long-term track record, these fees will be less that what you gain in the long-run. It is important to note that Endowus, MoneyOwl and Providend do not get paid by anyone but you, contrary to much of the industry that is paid trailer fees (distribution/sales commissions) by fund managers, which clients are usually oblivious to. This way we can stay honest to serving only you, our client.

FSMOne Fundsupermart

FSM ONE

Investments

Stocks

Roger Leng
Roger Leng
Level 2. Rookie
Updated on 07 Jun 2019
Hi David, I'm Roger from FSMOne.com. We can confirm that there are no custodian fees imposed on stocks bought from foreign markets. Here is the link to the list of charges and fees for respective markets. https://secure.fundsupermart.com/fsm/stocks/ways-to-trade If you have further questions, feel free to drop us a note at [email protected] Cheers! Roger
About FSMOne Fundsupermart
Product NameFSMOne Fundsupermart Online Trading Brokerage
Stock holding typeCustodian account
FeesMinimum: $10 or 0.08% whichever is higher
Cash Upfront OptionAvailable

Types of services FSMOne provides

FSM One offers a few types of services on their trading platform.

  • GIRO service offers an automatic and convenient way of debiting payment from credit sale proceeds to designated bank account.
  • Robo-advisory portfolio services

Types of account available with FSMOne

FSM One offers various types of account, catered to the different needs of individual investor.

The types of account FSM One provide are:

  • Basic Trading (Cash) Account
  • Corporate Account

Brokerage fees and charges of FSMOne

The fees and charges of FSM One are as follows:

Online

  • Minimum Commission: S$10
  • Investment of S$50,000 and below: 0.12%
  • Investment of S$50,000 to S$100,000: 0.12%
  • Investment above S$100,000: 0.12%

By Phone

  • Minimum Commission: S$40
  • Investment of S$50,000 and below: 0.50%
  • Investment of S$50,000 to S$100,000: 0.40%
  • Investment above S$100,000: 0.25%

Other transaction charges:

  • Clearing fee imposed by CDP: 0.0325%
  • SGX Trading fee: 0.0075%

Contact FSMOne