Uncle must be big shark until they questioned you. I never been questioned. Only first time. That time show proof then no more questions.

Another alternative you can try is
1) max money
2) use priority banking
-people say some banks offer you better rates if you can transfer 6 figure per time.

Advice you to use Interactive Broker. Can get spot exchange rate. Which means you can deposit say SGD and withdraw out in AUD at rate even cheaper than money changer

If you don't want to kena charged USD10/month use whitelabel (rebranded interactive beoekr) /keep USD100k with them.
Whitelabel selection
- Captrader, zacktrader, tradestation global

Keep poems account. You can use their MMF and earn >1%p.a They have good selection of unit trust too at zero fees.

Hope that helps.

Close down their stock brokerage account and tell them you want account for their UT only. Their UT account does not have any quarterly charges.

When you do not have priority bankingp privilege (access to higher interest rates), you need to think of ways to get priority banking privilege at via normal people route.

Of course in your case tell them you want to open unit trust account first then only close your stock brokerage.

This post has been edited by Ramjade: Apr 27 2019, 06:19 PM

FSM SG is only good for SG stocks. Nothing else. Do not use their platform to buy unit trust or overseas stocks unless you like to give them free money.

Don't bother about managed portfolio. If you really want their managed portfolio just use stashaway.

Don't bother with FSM SG unless you like to give free money to FSM SG. They have quarterly platform fees.

Wrong. Dollardex and poems got no quarterly platform fees.
So said as I said if you like paying fees and giving away free money, by all means use FSM sg for uni trust.

If you are Singaporean or eorkig in sg with some local address, I will recommend dollardex. Poems is for Malaysian ehi don't have sg address, not working or studying in sg.pick wheicher you want.

If you still want to pick FSM cause you can buy smaller funds, by all means go ahead. Just heads up you will be paying more over the long term Vs usih dollardex or Poems.

This post has been edited by Ramjade: Dec 3 2021, 02:19 PM

Because if you got no sg address or sg working pass, they won't accept you. Not sure which one. It's been long time since I emailed them.

If you are a Malaysian who's not rich looking to invest overseas, you won't have sg address and unlikely you are working in sg.

No. Just come down to interface, ease of use and see whether they have the fund you want to buy or not.

Don't bother with poems or fsm for us stocks and etf. They are expensive Vs interactive broker.
Also save yourself money and don't bother about sg stocks. They are only good for reits and banks. Nothing else.

Actually you pay more for funds at 1.8%p.a Vs DIY at around 0.4% one time fee if you are just holding.

Whether the fund is making money or losing money, you are guaranteed to lose 1.8%p.a

This post has been edited by Ramjade: Dec 5 2021, 06:31 PM

Age is not importance. I have been doing it for almost 7 years.
I have been though everything, unit trust, sg stocks us stocks.

I am just staring the obvious.
Sg stocks are lousy quality. I stay by what I said, they are only good for reits and banks.
Maybe around 4 stocks that are good outside of reits but otherwise the rest are rubbish.

Its a fact. When you invest in unit trust whether the fund make or lose money, you are paying 1.5-1.8%p.a in fees. That's why I said you will lose 1.8%p.a unless you DIY.

No I don't go Genting.

I will only recommend fsm for sg reits. That's all. Other stuff, use other platform. Other stuff apart from sg reits, I will tell everyone avoid FSM at all cost. Reasons:
1) why pay more? You are losing good money over time by paying platform fees when there's no fees on their competitor site.
2) they sucks for overseas stocks.
3) cause other better plarofrm exist and I don't have loyalty to FSM.
4) I will recommend the platform if I used it and like it. If it fail my test, I won't recommend it all.

For now fsm sg have only passed my test for sg reits and fail other stuff. If one day, it decided to have no plarofrm4 fees and us fees is as competitive as interactive broker, Moomoo, tiger, I will recommend it. For now no. It's only useful for sg REITs.

I use poems sg for unit trust and interactive broker for us stocks.

So as I said above, if you like giving free money to FSM, by all means go ahead. I dont give free money to fsm or banks if I can help it. I can't and I won't stop you. I just tell you that you are losing good money to FSM over long term.

This post has been edited by Ramjade: Dec 6 2021, 02:56 AM

You are welcome to share your fund stuff and I will continue to warn people against using FSM sg for unit trust until the day they remove the quarterly platform fees if they do remove it. If not, I will continue to tell people who ask is fsm a good platform for unit trust and tell them to avoid it seeing that their competitor does not charge platfeom fees and have more or less the same fund.

If they do remove it, I will recommend it. So you do your thing and I do mine.

This post has been edited by Ramjade: Dec 6 2021, 03:04 PM

Is not biting the hands that feed. Want to know why? I am giving advise so that those who want to start investing won't make that same mistake I make.

If I can travel back in time to when I start, I will tell my younger self that. Avoid sg stocks at all cost.

If I am starting out form scratch today after learning everything, I will not invest in sg market at all.

Is all about how efficient you want to deploy capital. If you want to waste money in something not efficient, I can'not do anything. I learned my mistake and realised sg market not efficient in growing wealth.

This post has been edited by Ramjade: Dec 8 2021, 07:51 PM

Come I give you example.
1. Look at sg blue chip companies excludig banks Vs US blue chip company over 10 years.
- Where is Microsoft, apple,Google, Amazon, home depot, coca cola, Johnson and Johnson. Where are they now?
- now look at singtel, keppel, sembcorp, starhub, capitaland, sph. Where are they now?

2. How many quality companies can you find in sg excluding Reits and banks
- Ums
- micro mechanics
- UOI
- Sheng siong

How many quality US companies are there?
- Microsoft
- apple
- Amazon
- Google
- Home depot
- Costco
- Nvidia
- Starbucks
- sea ltd
- Disney
- tesla
- many more

Anyway this is Fsm sg thread and I am not going to to derail it further.

You do what you think is right for your money, I do what I think is right.

Can just use Ibkr to buy fractional shares for usd0.35/transaction. Way cheaper than FSM hands down.