FSMOne FundSuperMart Review 2020

This article will review FSMOne FundSuperMart. Before reading this article it would be wise to look at some of the drawbacks of do it yourself (DIY) investing.

If you are looking to invest, you can contact me on email (advice@adamfayed.com) or via this form.

Introduction

The stock market is a global financial and economic instrument, the main function of which is to regulate the turnover of securities by buying, selling, exchanging or pledging.

In addition to stocks, bonds and bills are traded on the stock market.

The first stock exchange started operating in Amsterdam in 1611, and in its present form this market started in New York in May 1792.

The second extended definition of the stock market can sound like this.

The stock market is a segment of total capitalization that allows you to trade stocks on the exchange and in the OTC format. Together with the financial and credit market, this impressive capital sector shapes the global economy.

Key stock market opportunities

  • Receiving a stable income in the form of dividends from purchased shares.
  • Evolution of promising commercial projects with the attraction of funds from third-party investors.
  • Making a profit through the purchase and sale of securities within the framework of changing quotations (trading).
  • Provision of equity capital for trust management to successful brokers and traders with receiving appropriate remuneration.
  • An additional share issue, allowing developed commercial projects to reach a fundamentally new level of development and profitability.

If you want to have a second source of income, it is definitely worth getting started in the stock market. But before you start investing, you need to choose an investment broker. This is how FSMOne becomes a trading platform.

FSMOne is a trading platform for the financial and technical company called Fundsupermart. Thus, they are the trendy version of the traditional investment broker.

The main advantage of the FSMOne platform is its user-friendly interface. You can compare, buy and sell online, and do research on the platform by using their tools and reading their articles. Their commissions are also very competitive. 

With one account, you can manage your entire investment portfolio, including stocks, bonds, mutual funds and ETFs, including those offered on SGX. You can also manage your investments on your smartphone by downloading their mobile app.

  • FMSOne FundSuperMart Overview.

FSM One is an online brokerage platform founded by Fundsupermart in 2000. FSM One offers a variety of account types to meet the different needs of the individual investor, from young investors to cashier and multi-tier accounts. With FSMOne you can trade stocks, REITs, ETFs, bonds, funds.

FSMOne, launched in December 2016, is Fundsupermart’s (FSM) online trading platform that allows investors to manage multiple products traded in the Singapore, Hong Kong and US markets through a single account. Choose from over 1,600 funds and over 900 bonds, including mutual funds, bonds, stocks and exchange traded funds (ETFs), managed portfolios, and more.

Since the company was founded, its first and important mission has been to help its clients find profitable ideas. That’s why there are now over 20 analysts, portfolio managers and content writers in their offices in Singapore, China, Hong Kong, Malaysia and India, constantly looking for ideas that will make you money.

With one account, you can profit from these ideas with

  • global mutual funds and mutual funds;
  • local and global connections;
  • Singapore, Hong Kong and US stocks;
  • Managed portfolio services; and
  • insurance products.

FSM One offers several types of services on its trading platform.

  • Competitive low commissions
  • Permanent 0% commission on all funds and managed portfolios for all clients
  • FSM Managed Portfolios (MAPS) supported by experienced portfolio managers and analysts.
  • The GIRO service offers an automatic and convenient way to write off payments from the proceeds from the sale of a loan to a specified bank account.
  • Robo-advisory service portfolio.

FSM One suggests various types of accounts depending on the different needs of the individual investor.

  • Basic Trading (Cash) Accounts – Cash Up front, Multicurrency and Auto-Sweep
  • Corporate Account
  • Young Investors Programme.

Pros:

  • The program is really suitable; you can track and trade anytime, anywhere with FSMOne Web Trading Platform or FSMOne Mobile App.
  • All your actions are being done through custodian account; you don’t even need to open a CDP account to trade on FSMOne, making it easier and faster for novice investors.
  • FSMOne has a minimum commission of just $10, which is significantly lower than other brokers that typically cost $25.
  • The company offers a rewarding programme to its clients, which allows them to earn points on their investments and earn retail to entertainment rewards, select fund credits and more.
  • The app is user-friendly and easy to navigate. It doesn’t take long to learn how to use it.

Cons:

  • FSMOne only facilitates trading from the markets in Singapore, Hong Kong, and the US.
  • Cash Solution update takes 3 days. This means that the user cannot exchange currency for US dollars to play on the US market on the same day. Time is so important when playing with a stock market.
  • Compared to some of its competitors, FSMOne offers a smaller range of asset classes to trade. Some examples of asset classes that you cannot trade with FSMOne are Currency Leverage and Contracts for Difference.
  • FSMOne Investment Types.

If you are looking to invest, start your journey by creating an account with Fundsupermart and you will be given access to the FSMOne platform.

Then you have to check your online banking details, which usually takes about 3 days.

Once your account has been verified, you can transfer money to your FSMOne account via internet banking using FAST Transfer or PayNow at your local bank. There is no minimum balance, so you can start small.

As already mentioned in Pros you don’t even need to open a CDP account to trade on FSMOne, making it easier and faster for novice investors. But now let’s see what kind of investments does the company offer?

With this brokerage firm you can trade the following investments:

  • Bonds – these are debt securities issued to investors in exchange for lending their funds to an issuer (in this case it is the government or corporation). In return, the issuer regularly completes interest payments and pays the principal to the investor upon maturity. For bonds with an investment value of more than USD 200,000 (or the equivalent currency) per transaction, you will need to declare yourself an accredited investor to purchase. 
  • Managed Portfolios (FSM MAPS) – an online managed portfolio service that creates, monitors and balances your portfolio to help you reach your financial target. FSM MAPS is available to all FSM account holders.
  • Unit trusts – this is a form of collective investment that consolidates an investor’s money into a single fund managed by professional fund managers. Pooled funds are actively invested by the fund manager in a basket of assets such as stocks, bonds, a combination of these investments, or even other funds.
  • Stocks and Exchange Traded Funds (ETFs) – here you will have an access to a wide range of stocks, including daily leveraged certificates (DLC) and structured orders, as well as ETFs listed on exchanges in Singapore, Hong Kong and the United States.
  • Cash Solutions – keep your surplus cash and possibly get a higher return on your multi-currency cash or SGD account while waiting for an investment opportunity.

*About FSMOne Trading Platforms

As a tech startup, FSMOne offers an easy and convenient online experience when compared to traditional brokerage companies.

You can access all of their functions from your desktop or mobile device. Their mobile app is available on both Android and iPhone and has received rave reviews for its ease of use.

It should be noted, however, that all of your investments are usually held in FSMOne and not transferred to your CDP account unless you link your CDP account to your FSMOne account. Your FSMOne transactions will not be reflected on your CDP application until you do so.

To do this, you will need to fill out and mail a form, and the process will take about a week from the moment you receive it.

  • How to open a FSMOne Account?

FSMOne is ideal for young tech-savvy investors just starting out and looking for an easy-to-use interface that can be accessed on the go.

One of their most attractive features is their low fees. The $10 minimum is much lower than what you would pay at most traditional brokerage companies, where the total minimum fee is around $25. This makes it ideal for those who don’t have a ton of money and want to make small deals.

Their platform interface and mobile app are also much more intuitive than most traditional online brokerage platforms and also allow you to manage all of your investments in one account, rather than logging into a separate account to check your bonds or mutual funds. This makes them less of a daunting choice for beginners looking to make their own DIY investments.

So if you’re sure you want to be a part of this firm, here is a guide how to open an account.

First of all, the company provides the option to apply online for a FSMOne merchant account (only for personal or beneficiary accounts) if you are over 18 years old and not a US citizen or bankrupt. To apply, go to the FSMOne website and click the “Open an Account” button to begin the registration process.

Unlike most traditional brokerage services that require you to open an account with a Central Securities Depository (CDP) and link it to your trading platform, it is not necessary to open a CDP account before trading on FSMOne.

If you are trading on FSMOne without a CDP account, the purchased shares will be held in a custodian account on your behalf and not transferred to your CDP. The downside to this is that the stock held in the FSMOne custodian account will not belong to you, which could be risky if something happens to the brokerage company.

What documents will be needed for applying?

  • Singaporean or Malaysian permanent residents – front and back photocopy of your NRIC
  • Foreigners can just make a photo of their valid passport

You must also provide any of the following supporting documents:

  • Last phone / internet account
  • Last bank statement
  • Latest CPF – My Notice Page 
  • Latest insurance claim
  • FSMOne Key Features.

Let’s see the company’s features that attract many people’s attention and lead them to FSMOne.

  • Alerts – stay up to date with notifications of the latest price movements of both local and foreign counters in one watch list (up to 10 watch lists).
  • ETF or stock strategies – get insight and intelligently plan your asset management goals with stock ideas and market analysis from dedicated research group FSMOne.
  • Newsletters – access the info sheet for any stock available by entering the stock name or code in the ‘Seach FSM’ query field (located in the upper right corner on all FSMOne web pages). To view free technical analysis charts, simply log into your investment account.
  • Live streams – view real-time quotes and prices of your favorite counters from SGX and HKEX. For SGX FSMOne offers free streaming for free. As far as HKEX is concerned, this service is billed for either a $1 bundle of 50 Snaps or a $24 monthly subscription. This service is also redeemable for your FSMOne Bonus Points or paid from your FSM Cash Account. In addition, you can also view the records of past transactions executed based on order type, price and trade size.
  • In depth market information – Review the different price levels of a particular listed security (for example, a stock or ETF) that buyers are willing to buy / ask and sellers are willing to sell / offer at any given time:
  • Singapore (SGX) Market – displays up to 20 levels of pending volume queued at a specific price level. This service will cost $21 per month.
  • Honk Kong (HKEX) Market – displays up to 10 levels of pending volume queued at that specific price level. Charged based on $1 bundle of 50 shots or $40 monthly subscription.
  • Research – to assist their clients to focus on investment ideas and make solid transactions, the firm provides invaluable information and data provided by its own dedicated research team:
  • Focus ETF list – new investors looking to narrow the ETF roster for a low-cost, diversified approach to gain access to any broad market can benefit from a targeted ETF roster.
  • Product information – stay on top of the latest trends and news for funds, stocks, ETFs, bonds, managed portfolios.
  • Thematic portfolio – FSMOne builds thematic portfolios by identifying long-term megatrends and investing in diversified asset classes with a high return rate.
  • Macro research – stay on top of key global economic news, outlook and trends with in-depth research articles
  • Star ratings – at the end of each quarter, FSMOne reviews the various regional and individual equity markets under their coverage to assess their attractiveness as an investment proposal based on a number of valuation indicators.
  1. FSMOne Pricing: Fees and Commissions.

One of the biggest benefits of trading with FSMOne is the low fees and transparent fee structure. Here are some notable fees from FSMOne:

  • Opening an account with FSMOne is completely free
  • You do not pay any maintenance fees and are not required to maintain minimum holdings for your account to be active.
  • All customers are eligible for 0% sales commission on all funds (mutual funds and recurring savings plans) and managed portfolios.
  • Diamond, Gold and Silver clients are charged a flat $10 fee per SGX / ETF share.
  • Each retail, wholesale, Bond Express buy / sell order is subject to a 0.35% handling fee. For SGS Notes, each buy / sell order will cost 0.1%. All handling fees are subject to a minimum of US $ 10 (or equivalent).
  • Platform fees are charged on a quarterly basis for investments in funds and bonds (excluding CPF holdings) based on the average daily market value of bonds. ETF investments, stocks, managed portfolios, Auto-Sweep account will not be credited to the platform.

Now let’s see the other charges for ETFs and stocks trading. There is only one way to trade, which is the online trading option so;

  • Minimum Commission: S$10
  • Investment of $50,000 and below: 0.08%
  • Investment of $50,000 to S$100,000: 0.08%
  • Investment above $100,000: 0.08%
  • Clearing fee imposed by CDP: 0.0325%
  • SGX Trading fee: 0.0075%

FSMOne also offers some extra paid features that are available by subscription:

If you are trading in a Singapore (SGX) market, the payment for a monthly subscription will be $21. A subscription for trading in a Honk Kong market will cost you $40, 

  1. FSMOne Safety and Customer Support.

FSMOne platform is equipped with security features such as:

  • SSL encryption. All transactions in FSMOne are processed using Secure Sockets Layer (SSL), verified by Verisign to protect your data from tampering before being sent to the FSMOne server.
  • Two-factor authentication (2FA). Your FSMOne account is protected from unauthorized access through two levels of identity verification – your login and password, and a one-time password (OTP) sent to your registered mobile phone number.

FSMOne (iFAST Financial Pte Ltd) is a CDP Approved Depository Agent (DA) and is licensed by Capital Market Services (CMS) and Financial Advisors licensed by the Monetary Authority of Singapore (MAS).

As a DA, FSMOne maintains a sub-account with CDP on behalf of each client. In the unlikely event that iFAST stops operating, your investment assets held by iFAST will either be returned to the investors or transferred to another agent of your choice. IFAST lenders will also have no claims against your assets.

If you have any questions, you can contact FSMOne directly through the following contact details:

  • General hotline: +65 6557 2853
  • Monday to Friday (except holidays): 10:00 pm to 5:30 am and 9:00 am to 4:30 am (Summer Time)
  • Saturday (except holidays): 8:30 am to 12:30 pm
  • Night shift (US trades): +65 6439 8007
  • Monday to Friday (except holidays): 10:00 pm to 5:30 am) and 9:00 am to 4:30 am (Summer Time)
  • Live Chat: Available on FSMOne website 
  • Email: clienthelp@fundsupermart.com
  1. Final Opinion of FSMOne.

As the first investment platform in Singapore to consistently offer 0% commission on sales for all funds and mutual funds, FSMOne is uniquely attracting budget-conscious investors and retail traders.

Commission fees affect the profitability of your trades. High commissions can make your trades much less profitable if you buy and sell frequently. On the other hand, if you just buy and hold for a long time, commission fees won’t affect you that much.

Also pay attention to the minimum fees, especially if you are making small trades. Higher minimum fees can seriously affect the profitability of small trades. FSMOne has a minimum commission of only $10, which is suitable if you make small and frequent trades.

Another feature of FSMOne is user friendliness, streamlined interface and ease of consolidation and management of all your assets in one account.

Before choosing an investment broker to conduct your trades, be sure to compare it to similar trading platforms on the market to see how it stacks up.

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