Who said anything about using FSM SG? FSM SG is the worst platform to buy UT.

They charge you 0.1% per quarter and the amount you will be charged increases even if you didn't topup as your value increases Bloody bloodsuckers.

This post has been edited by Ramjade: Nov 11 2017, 07:12 AM

Oh then Which platform got no Service charge u mentioned?

No worries found it. Poems and dollardex

Thanks

This post has been edited by ruben7389: Nov 11 2017, 08:26 AM

Its best to use fsm sg to buy sg stocks and reits. Dont charge u 0.1% like ut.

And essier to open an account.

Correction. That is true until the time FSM SG starts charging platform fees like what they are doing for those buying ETFs which they should not as ETFs are traded on the stock market so it should be considered as a stock.

Thanks for correcting Ramjade! But if we bought individual stocks instead of ETFs, we wouldnt be charged?

For now no. But we don't know what fsm will do in the future. Knowing what blood suckered they are, it's only a matter of time. Say 3-5 years time. Need to build up customer first. Then put a ransom, if you want to transfer out, pay a hefty fine. By then, most will just pay the platform fees.

This post has been edited by Ramjade: Nov 12 2017, 11:09 PM

Ramjade

Still good to buy Schroder Asian Gr Fund?

Any thoughts?

Come on, hit me why is it not a good buy?

Thanks Ramjade

Managed to open SG savings account, CIMB and Maybank iSAVvy. This thread is surprisingly very quiet.
Planning to go into FSM SG.
Any other newbies here?

Hi, can continue the discussion here.

It's possible to invest in FSM SG without singapore bank account, you can send SGD directly to FSM SG, either using money match or normal bank TT. The former should be cheaper than the latter.

But when you want to sell the funds and TT back to Msia, FSM SG cannot TT back RM, so you will either need a multi-currency FCA in Msia bank account or you will be translating it to RM at bank rate, where usually the rate is unfavorable

Sorry, been busy and have not been keeping an eye on FSM SG, just let the MAPS auto-pilot

Whatever you do, stay far away from FSM SG. Why? Quarterly platform fees of 0.1% which is equal to more than 0.4%/p.a. Use FSM SG to screen funds, then buy using POEMS SG for free of charge. Get the best of both worlds.
1) good and free screening tools
2) you don't get charged for your funds

Both POEMS and FSM have more or less the same funds. Not much difference anyway.

That's what I am doing.

Of course you can choose to ignore and donate free money to FSM SG or you get to keep the 0.4%p.a to yourself.

Of course it's quiet as people prefer to pay FSM MY 1.75% service charge rather than have the full amount of money working.

I don't dish out recommended funds. I dish out advice. Learn how to screen funds and read fund factsheet.
Feel free to comb through this thread. Few recommended funds are listed here.

Stay far away from FSM SG. Reason see above. Use POEMS SG. They can TT the money back to you.

You should discourage from people from signing up with FSM SG instead of encouraging them. If they still want to sign up and buy from FSM SG after knowing how much FSM SG charge, so be it.

This post has been edited by Ramjade: Jan 30 2018, 10:47 PM

U know why you are being seen as annoying by so many in LYN even when you tirelessly answer every question? Because you impose your views on others and think only your view is the right one.

I use FSM SG and therefore I’ll respond to questions that I know answers of, in terms of using FSM SG

As far as I’m concerned, your way of researching on FSM SG and buying on other more inferior platform is akin to going into a fast food restaurant to see what others are eating and what seems to taste nice, then walk out to the road side stall to buy it, then walk back into the fast food restaurant to eat and use their utensils, maybe chili sauce too, and then laugh at everyone who buy the food in the fast food restaurant for being stupid to pay more than what you did. This is not an acceptable behavior offline, but becos e-commerce works a bit differently, there’s no effective way to get rid of free loaders like you. But since I believe in sustainable supply chain, I’ll still pay for the food in fast food restaurant, until such time I feel that what they offer is not what I want anymore.

Wow.. totally agreed with you. So long the fees are reasonable and justifiable, certain fees are worthwhile to pay for. Sometimes saving the minor fees is not justifiable for the effort that you spent, not to mention that the fees are already lowered and cheaper than the normal options.

Well there are always free loaders, used up all the free services that are available, and not willing to pay the 0.1% for the operator to maintain its platform (though it requires manpower to develop / maintain the service).

I am very blant and straight to the point person. No point hiding behind fancy words. Personal experience have taught me it's better to know what we will be paying upfront than later on after buying something.

I don't impose my view. I merely warn them. Up to them if they want to read/ignore. It's their money. Not mine. Actually I don't need to do it but rather than them knowing later on and regret it, it's better for them to know upfront first before deciding to sign up.

Wow that severe huh? I prefer the anology of air Asia vs MAS/other premium airline. For so long consumers are forced to fly MAS/premium airline because there's no choice. Air Asia came, offer a new choice and as they say the rest is history.

Another analogy is banks vs transferwise. If giving people choices, people aren't restricted to banks only.

The thing is if both dollardex and POEMS can offer platform free fees why must FSM continue to charge platform fees when considering dollardex a smaller player than both POEMS and FSM can do without platform fees?

With both POEMS and Dollardex offering platform free fees, hopefully FSM SG can also offer platform free fees (level playing field).

I learnt these from the white people. Open 2 brokerage account. One free/cheap commission brokerage, one expensive commission brokerage with all the bells and whistle, utilise the expensive brokerage for research and buy from the cheap/free brokerage.

It's better we take the 0.4% and donate it to charity than give it to FSM SG. Those charity body need the 0.4% more than FSM SG.

Not at 0.4%p.a. 0.4%p.a is bloody high If you feel 0.4%p.a is justified, then go ahead and pay them. I don't have that much money to give away freely. And if I were to choose to give away 0.4% p.a, I would choose to give it charity instead. Those good people deserve it more.

This post has been edited by Ramjade: Jan 31 2018, 07:15 AM

there are many things people do and beliefs that costed more money, time and effort that what we did.

there are many things people do that may not be similar to what we are doing.

what other people did or are doing is his/her business, monies and satisfaction......which may not be what we liked.

unless they specifically asked for "improvement on what they are doing now"......we should not says thing that make them look foolish and us smarter even thought we "think" it is right.

telling others that they "should", ...is imposing which is a form of i am smarter you are stupider...

telling others that "It's better we take the money spend on buying joss sticks and donate it to charity than give profits to those businessmen. Those charity body need the money from the sales of joss stick more than those businessmen." .......what do you think it is? (depending of what is the end intention....Can it is conceived to be you are stupid to do that and I a smarter for I did not?)

sometimes it is better not post when not asked for.....

and when if we have to post....a bit of tackfulness on what, how and the way we wrote is recommended eventhough it is the right thing.

One do not have to hide the truth or suppress the way we felt......but just write with a bit of feeling and thought of "what if my son/daughter is the receiver of such a comments."

When all things are equal, why choose the more expensive version over the cheaper ones?
Unless
1) one have too much money
2) want to support small startup company/communities

Precisely. It's their money and I am merely just doing a social service by warning people they will be charged quarterly platform fees. How many people know they will be charged quarterly platform fees? How many people know of better alternatives?

Sorry this part I totally don't agree with you. Extra money given to FSM can be put to better use to feed the poor and homeless rather than increasing iFAST coffers.

Don't post and let people get tricked/conned by FSM SG? Unlikely going to happen. Even if is a one man show, I will warn people to avoid FSM SG. Unless as I said they don't mind donating free money to FSM SG then if they are happy with, I am perfectly fine. However, people deserve to be warned beforehand.

They will be thanking me as few of my relatives have done. Few wanted to open FSM SG account, told them they will be charged quarterly, they quickly make a Uturn.

Making the world a cheaper place is better for everyone. That's why I support companies like Moneymatch, transferwise rather than big banks.

yklooi, when you choose to invest in SG, there are only 4 platform you can choose from.
1) FSM SG
2) POEMS SG
3) Dollardex
4) Banks

So if we scratch off option 3) & 4), we are only left with 1) & 2), both accept Malaysian customers, both have more or less the same funds, so both are considered equal.

Like I said, they want to go ahead after getting the warning by me, by all means go ahead.

If you don't give free social service, how many people will know that other options exist? How many know how to research different platform to invest? Let them know. After that, it's up to them to make their choice.

When someone does not give early warning, someone had to step in to do the dirty work and I don't mind getting my hands dirty. Who knows in the future, FSM SG will abolish platform fees and we will have more options.

Like I said, I am a straightforward person. No need for nice language. As long as point received.