Best for Long-Term Investors
FSMOne Online Brokerage Review
Annual Management fee for Singapore stocks
Annual Management fee for Hong Kong Stocks
Annual Management fee for US Stocks
Underlying Investment
Minimum Investment
Funding Options
Platform Fees
Expected Annual Return
FSMOne offers low trading commissions compared to other bank-run Robo advisors while still providing an attractive reward system. The platform offers a flat commission fee of S$8.80 per ETF or stock traded on the SGX. Although this might seem pricey, it is an excellent plan if you plan to trade in large amounts.
However, FSMOne tends to attract a lot of competition, especially for new players in the market, such as Tiger Brokers and Moomoo. They have a minimum fee of S$3 per trade, even with the inclusion of platform fees. The platform also has a limited number of stock exchanges for its investors.
All details
Key Features
- Users can invest in a variety of assets such as bonds, stocks, and ETFs on the HKEX, SGX, and US stock exchanges.
- It does not require a minimum balance or deposit.
- Flat rate of S8.80 per trade for Singapore stocks.
- 0.08% per trade with a minimum of US $8.80 for US stocks.
- 0.08% per trade with a minimum of HK$50 for Hong Kong stocks.
- 0.35% per trade with a minimum of S$10 for processing and platform fees levied on bonds (Retail, Wholesale and Bond Express).
- For SGS bonds, 0.1% per trade with a minimum of S$10.
- There are no fees of investments with CPF funds, but quarterly platform fees apply to investments made using cash, SRS.
- 0.05% is charged in fixed-income funds, and 0.05% or 0.0875% is charged on other fund types.
- FSM Managed portfolios (MAPS) which is backed by experienced portfolio managers who offer investment advice to users.
- Auto Sweep account that offers a higher interest rate and has reduced lag time while purchasing other financial products.
- FSMOne builds thematic portfolios using long term megatrends using key global economic news to ensure a high return rate.
Promotions and Benefits
- You will get complimentary level 2 market data on the Singapore Stock Exchange when you open an FSMOne account before 31st October 2021. Terms and conditions apply.
Pros & Cons
The Pros
- FSMOne charges the lowest commission fees that other bank-run online managed portfolio services with 0.80% per order with a minimum of US$8.80 and HK$50
- FSMOne trading platforms don’t charge any platform fees or dividend fee handling
- Features actively managed solutions that enable busy investors to grow their wealth without being hands-on.
- Users can select their entire investment portfolio based on their risk appetite. Each investment unit has ETFs and Unit trusts, a form of collective investment that puts together investors’ money in a single fund.
- Offers the option to receive dividends on your investment to your FSM cash account or select the Growth option where they reinvest the dividends on your behalf.
The Cons
- The FSMOne scheduled fee is much higher than its peers in the market
- The online trading platform offers only three stock exchanges to trade in, i.e., SGX, HKEX, and US stock exchange
- Its website is not beginner-friendly, but the FSMOne mobile app is friendlier
General Information
Other Fees and Charges
FSMOne is licensed by the Capital Market Service (CMS) and Financial Advisors licensed by the Monetary Authority of Singapore
The platform does not charge any deposit, withdrawal, or dividend handling fees. Same for corporate action charges for securities on the HKEX and SGX. HOWEVER, the US securities are subject to a US$50 charge and a US$100 DWAC fee.
Other than these fees, keep in mind the following when trading on FSMOne:
- HKEX:0.8% per trade with a minimum of HK$50 excluding exchange-level charges and GST
- SGX: S$8.80 per trade on all fund sources, i.e., Cash, CPF, and SRS, excluding exchange-level charges and GST
- US stock exchanged: 0.08% per trade with a minimum of US$8.80 excluding exchange-level charges and GST
Here are the charges if you are planning to set up a regular savings plan
- SGX (Buy): 0.08%, with a minimum of S$1
- SGX (Sell): S$8.80
- HKEX (Buy): 0.08%, with a minimum of HK$5
- HKEX (Sell): 0.08%, with a minimum of HK$50
- US stock exchanges (Buy): 0.08%, with a minimum of US$1
- US stock exchanges (Sell): 0.08%, with a minimum of US$8.80
Here are the quarterly and annual fees levied on clients FSM Managed Portfolios (MAPs):
- Quarterly management fee (Conservative portfolio): 0.0875%
- Quarterly management fee (All other portfolios): 0.125%
It is important to note that FSMOne does not charge an inactivity fee, and you do not need to pay any custodian fees for your exchange-traded funds and stock holdings.
Eligibility and Requirements
Eligibility
It would be best if you were above 18 years old, but beneficiary account holders can be younger
Requirements
These requirements apply to personal or beneficiary accounts.
- Copy of your NRIC (Singaporean and Malaysian)
- Passport if you are from other countries
- Latest internet/phone bill
- Latest bank account statement
- Latest CPF
- Latest Insurance statement
You will need to go to their website and open an account. Once your account is verified, you can transfer money to your account via internet banking using your local bank’s PayNow or Fast Transfer.
Disclaimer: This information may differ from what you see when you visit other financial service websites or the product’s official site, but Loan Advisor continues to keep every detail updated and accurate. This site may be compensated through third-party advertisers. However, the results of our comparison tools which are not marked as sponsored will always be based on objective analysis.
How Does FSMOne Compare with Other Online Brokerages in Singapore?
Robo-advisor | Minimum Initial Investment | Platform Fees | Annual Management fees | Funding options | Expected Annual return |
FSMOne | – | – | Singapore stocks: Flat rate of S$8.80 per trade Hong Kong trade stocks: 0.8% per trade with a minimum of US$8.80 US stocks:0.8% with a minimum of HK$50 | Cash, SRS, and CPF | Not available |
StashAway | No minimum investment | – | 0.8% (Up to $25,000) | Cash &SRS | 34.69% |
Smartly | $50 | – | 1% (Up to $10,000)/ 0.7% (more than $10,000) | Cash | Not available |
Endowus | $10,000 | – | 0.60% for first $200,000 0.40% flat fee for any amount for CPF or SRS money | SRS, Cash & CPF | 15.69% |
Syfe | No minimum investment | – | 0.65% for sum invested of less than $20,000 | Cash & SRS | 23.10% |
FSMOne – Our Verdict
FSMone trading fees are relatively higher than other popular brokerages in Singapore. However, the fees are lower than other bank-run platforms. The platform does not lend well for retail traders, but it is an excellent option for investors looking to make lump sum investments and for a long time.
Final Thoughts
If you are looking for an online brokerage firm, FSMOne should be among your first options and more so if you are looking for a long-term investment platform. It operates in Singapore, India, Hongkong, Malaysia, and china.
The platform offers reasonable trading fees when compared to similar trading platforms in the stock market. However, on the downside, FSMOne only gives you access to three stock exchanges, i.e., SGX, Hong Kong Stock exchange, and the US stock exchange.
Key Takeaways
- FSMOne grants users access to three trading markets
- Offer a holistic investment platform with MAPS and regular savings plan features
- The platform is ideal for lump sum investments that you have kept there for a long time
- FSMOne does not have a minimum investment requirement, nor does it charge an inactivity fee
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FAQs
Why Should You Invest with FSMOne?
The Platform Has Competitive Fees for Long Term Investors
FSMOne’s commission fees might not be the lowest in the market, but their percentages are very competitive. You will get charged 0.08% per trade on US stock exchanges and HKEX.
On the SGX, a S$17,600 trade will attract an S$8.80 flat rate that translates to a 0.05% fee. These fees are ideal for investors who want to make high-value trades less frequently because the charges are accrued per trade.
However, it is essential to note that online brokerage platforms charge a flat rate per share instead.
FSMOne Is a Comprehensive Investment Platform
The platform allows users to invest in various class assets on the SGX, HKEX, and US stock exchanges. Advanced investors have access to Structured Warrants and Daily Leverage Certificates listed on the SGX, which is a plus since they do not have access to options and futures on the platform.
The Platform Has Complimentary Educational Materials
FSMOne has a suite full of educational materials that anyone can view. You do not need an account to access their tutorials and webinars.
FSMOne school also has a series of articles that cover different topics based on their frequently asked questions. The cover topic is in a way that investors of all levels can understand.
How Many Personal and Beneficiary Accounts Can I Have?
You can only open one personal account and up to three Beneficiary accounts. Keep in mind that you are still the primary operator of all the accounts. The beneficiaries will not have any rights to the account as long as you are alive.
What Is A Beneficiary Account?
A beneficiary account helps plan a separate portfolio for a different person. If any person in the beneficiary account passes, the assets in the account will belong to the person surviving.
Do You Need to Have a Singapore (Local) SGD Bank Account to Open an Investment Account?
No. You do not need to have an SGD bank account. However, having one will enable us to update the Direct Credit Instruction to deposit cash redemption proceeds to your bank directly through electronic fund transfer rather than mailing a cheque.
What Will Happen to My Application If I Do Not Send All My Documents?
We will not be in a position to approve your account application. However, we will send you regular emails to remind you of the same.
What Is the Role of FSMOne In the Bond Market?
FSMOne is a licensed custodian, financial advisor and deals in bonds. The company transacts on behalf of its clients with other dealers and brokers in the bond market.
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