Are you looking for an online brokerage that offers low fees for trading in Singapore’s stock market? Look no further than FSMOne. This platform is the first and only broker in Singapore that offers a flat commission rate of S$8.80 on SGX trading, regardless of the amount you trade. This means that you can trade more and save more with FSMOne.
FSMOne is a top wealth management platform in Singapore that offers a range of investment options, including cash, auto-sweep, funds, bonds, stocks, ETFs, managed portfolios, debit card, and insurance. With just one account, you can invest in Singapore, US, Hong Kong, China, Malaysia, and UK markets. FSMOne also offers a range of account types and funding methods to suit your needs. Whether you are a beginner or an experienced investor, FSMOne has something for you.
Key Takeaways:
- FSMOne is the first and only broker in Singapore that offers a flat commission rate of S$8.80 on SGX trading, regardless of the amount you trade.
- FSMOne offers a range of investment options, including cash, auto-sweep, funds, bonds, stocks, ETFs, managed portfolios, debit card, and insurance.
- FSMOne offers a range of account types and funding methods to suit your needs.
Understanding FSMOne’s Fee Structure
If you are looking for an online broker with a straightforward and transparent fee structure, FSMOne is a great option. Here, we’ll break down the different types of fees you can expect to pay when trading on FSMOne.
Commission Fees
FSMOne offers a flat commission rate of S$8.80 for SGX-listed stocks and ETFs. This is a fixed fee structure, which means that you will pay the same amount whether you trade S$1,000 or S$1 million. This makes FSMOne an excellent choice for investors who trade large amounts, as the commission fee is significantly lower than the industry average of 0.22%. However, if you trade low amounts, FSMOne’s fee structure may not be the most suitable for you.
In addition to SGX-listed stocks and ETFs, FSMOne also offers trading in US and Hong Kong stocks, with commission fees of 0.08% per trade, with a minimum of US$8.80 and HK$50, respectively.
Platform Fees
FSMOne does not charge any platform fees for trading. This means that you won’t have to pay any monthly or annual fees just to use the platform.
Processing Fees
When you trade on FSMOne, you will be charged a flat processing fee of S$8.80 for SGX-listed stocks and ETFs. This fee applies whether you transact directly via your FSMOne account or just sell existing holdings from your CDP account.
It’s important to note that FSMOne also charges processing and platform fees for other types of investments, such as bonds. For example, the fee for retail, wholesale, and Bond Express bonds is 0.35% per trade, with a minimum of S$10.
In summary, FSMOne’s fee structure is straightforward and transparent, with a flat commission rate of S$8.80 for SGX-listed stocks and ETFs. However, if you trade low amounts, FSMOne’s fee structure may not be the most suitable for you. Additionally, while FSMOne does not charge any platform fees, it does charge processing and platform fees for other types of investments.
Investment Options Through FSMOne
If you’re looking for a platform to invest in various securities, FSMOne is an excellent choice for you. FSMOne offers a wide range of investment products, including stocks, ETFs, bonds, unit trusts, and mutual funds.
Stocks and ETFs
FSMOne provides access to a vast selection of stocks and ETFs from different markets, including US stocks and SGX-listed securities. The platform is user-friendly, making it easy to search and invest in your preferred stocks and ETFs. With FSMOne, you can trade stocks and ETFs at a flat rate of S$8.80, regardless of the amount you trade.
Bonds and Fixed Income
FSMOne offers a range of bonds and fixed-income securities for investors looking for a steady stream of income. You can invest in bonds from different markets, including Singapore, US, and Hong Kong. FSMOne also provides access to fixed deposits and other fixed-income securities.
Unit Trusts and Mutual Funds
If you’re looking to invest in professionally managed portfolios, FSMOne offers a wide range of unit trusts and mutual funds. The platform provides access to over 1,800 unit trusts and mutual funds from different markets, including Singapore, US, Hong Kong, China, Malaysia, and the UK. With FSMOne, you can invest in unit trusts and mutual funds with as little as S$50 per month.
Regular Savings Plan
FSMOne offers a Regular Savings Plan (RSP) that allows you to invest in your preferred securities regularly. With RSP, you can invest in stocks, ETFs, bonds, and unit trusts with a fixed amount of money every month. FSMOne’s RSP is flexible, allowing you to change your investment amount or securities at any time.
In conclusion, FSMOne is an excellent platform for investing in various securities, including stocks, ETFs, bonds, unit trusts, and mutual funds. The platform is user-friendly, and you can invest in your preferred securities at a flat rate of S$8.80. With FSMOne’s Regular Savings Plan, you can invest in your preferred securities regularly with a fixed amount of money every month.
Account Types and Funding Methods
When it comes to opening an account with FSMOne, you have two options: a Custodian Account or a CDP Account.
Custodian vs CDP Accounts
A Custodian Account is an account where FSMOne holds your shares on your behalf. This account is ideal for those who do not want to hold their shares in their own name. On the other hand, a CDP Account is an account where you hold your shares in your own name. This account is ideal for those who want to have direct ownership of their shares.
Funding Your FSMOne Account
FSMOne offers several funding methods to make it easy for you to add money to your account. You can fund your account using FAST Transfer, PayNow, Internet Bill Payment, Cheque, Telegraphic Transfer, and Bank Drafts.
The easiest way to fund your account for a one-time payment is to use either a FAST transfer or PayNow. You can also fund your account using Internet Bill Payment, Cheque, Telegraphic Transfer, and Bank Drafts.
It is important to note that the approval process for funding your account will typically take approximately one business day to process.
FSMOne offers a flat processing fee of only S$8.80 for SGX-listed stocks/ETFs on FSMOne, whether you trade S$1,000 or S$1 million. There are no fees for investments made using CPF funds. A quarterly platform fee applies for investments made using cash or SRS. A fee of 0.05% is charged for fixed income funds, while a fee of 0.05% or 0.0875% is charged for all other fund types (equity, alternative investments, etc.).
Overall, FSMOne offers a variety of funding methods and account types to suit your needs.
Trading on International Markets
If you’re interested in trading on international markets, FSMOne is a great choice. Here’s what you need to know:
Accessing US and HK Exchanges
FSMOne allows you to trade on the US and HK exchanges. This means you can invest in US stocks, such as Apple, Amazon, and Google, as well as HK stocks, such as Alibaba and Tencent.
To trade on these exchanges, you’ll need to open a separate account with FSMOne. Once your account is set up, you can start trading on the international markets.
Understanding Foreign Currency Risks
When you trade on international markets, you’ll be dealing with foreign currencies. This means you’ll be exposed to foreign currency risks. If the currency of the stock you’re trading in falls in value, you could end up losing money even if the stock itself is performing well.
To mitigate this risk, FSMOne allows you to hold foreign currencies in your account. This means you can convert your SGD to USD or HKD, for example, and hold it in your account until you’re ready to trade.
It’s important to note that there may be fees associated with converting currencies. Be sure to check FSMOne’s fee schedule before making any trades.
Overall, trading on international markets can be a great way to diversify your portfolio and potentially earn higher returns. With FSMOne, you can access these markets easily and at a low cost.
Additional Features and Services
FSMOne offers a range of additional features and services to help you make the most of your investment portfolio.
Managed Portfolio Services
If you’re looking for a more hands-off approach to investing, FSMOne’s Managed Portfolio Services might be just what you need. With this service, you can choose from a range of portfolios that have been designed and managed by FSMOne’s team of experts. These portfolios are designed to meet specific investment goals, such as income generation or capital growth, and are rebalanced regularly to ensure they remain aligned with your investment objectives.
Auto-Sweep Account Functions
FSMOne’s Auto-Sweep Account is a convenient way to manage your cash holdings. This account automatically sweeps any uninvested cash from your FSMOne account into a high-yield money market fund, where it can earn interest until you’re ready to invest it. This means you can earn interest on your cash holdings without having to actively manage them.
In addition to these features, FSMOne also offers a robo-advisor service, which uses algorithms to provide investment recommendations based on your risk tolerance and investment goals. This service is provided in partnership with iFAST Corp, a leading fintech platform in Asia.
Overall, FSMOne’s additional features and services provide investors with a range of tools to help them achieve their investment goals. Whether you’re looking for a more hands-on or hands-off approach to investing, FSMOne has something to offer.
Frequently Asked Questions
How exhilarating are the costs for trading stocks with FSMOne in Singapore?
Trading stocks with FSMOne is quite exciting, as the platform offers a flat commission rate of S$8.80 for SGX trading. This means that you can trade as much as you want without worrying about the cost. Additionally, the fees for US and Hong Kong stocks are also quite reasonable, with a minimum of US$8.80 and HK$50 respectively.
What’s the thrill in discovering FSMOne’s minimum investment threshold?
FSMOne’s minimum investment threshold is also quite exciting, as it allows you to start investing with as little as S$50. This makes it easy for beginners to start investing and building their portfolios.
Could you enlighten me on the platform fees for FSM bonds?
The platform fees for FSM bonds are also quite reasonable, with a fee of 0.35% per trade and a minimum of S$10. This makes it easy to invest in bonds and diversify your portfolio.
What are the vibrant details of FSMOne’s Regular Savings Plan (RSP) fees?
FSMOne’s Regular Savings Plan (RSP) fees are also quite exciting, as the platform offers a low fee of S$1 per counter per month. This makes it easy to invest regularly and build your portfolio over time.
Is there a buzz about the monthly charges one incurs with FSMOne?
There is no buzz about monthly charges with FSMOne, as the platform does not charge any monthly fees. This means that you can use the platform as much as you want without worrying about additional charges.
What’s the excitement around withdrawing funds from FSMOne and the associated fees?
There is also no excitement around withdrawing funds from FSMOne, as the platform does not charge any fees for withdrawals. This means that you can withdraw your funds whenever you want without worrying about additional charges.