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FundSuperMart v18 (FSM) MY : Online UT Platform, UT DIY : Babystep to Investing :D
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melondance
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 Aug 22 2023, 06:30 PM
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Getting Started
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QUOTE(xander2k8 @ Aug 22 2023, 05:07 PM) Won’t be cheap because you are paying upfront 2% FX spread 🤦♀️ the fees will be cheaper while they earn back from FX spread I don't think its as bad as 2% currently. But you may check again.. Wise & IBKR transfer isn't that great too nowadays MYR to USD has variable fee of 0.68% and USD to MYR has 0.61%.  Currently, you convert RM > USD > RM in FSMOne, RM1000 turns into RM987. (Conversion only as no USD transfer is involved) In Wise, RM > USD (Transfer), then USD > RM (Conversion), RM1000 turns into RM985. (without covering incoming Wire fee into Wise) |
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melondance
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Sep 4 2023, 06:13 PM
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Getting Started
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QUOTE(victorian @ Sep 4 2023, 06:04 PM) I've always wanted to DCA into S&P500 because I'm lazy to time the market, but I'm always put off by the min per trade charged. Guess this is the best time to enter? Do RSP, set and forget. If it's registered before end of September you get 0% processing fee till end of 2024. Doesn't sound bad to me. |
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melondance
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Feb 10 2024, 08:36 PM
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Getting Started
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QUOTE(thecurious @ Feb 10 2024, 02:37 PM) Thanks for sharing your experience. VOO has dividends right? Does FSM charge for the dividend handling? How much do they charge if there is? FSM does not charge for US ETF Dividend Handling. but there is 30% Dividend Withholding Tax (WHT) by US IRS. |
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melondance
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Feb 21 2024, 05:43 PM
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Getting Started
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QUOTE(trapezohedron13 @ Feb 21 2024, 02:26 PM)  are these the charges? anyone can confirm? quite high it seems No, those stated under US is not Dividend Handling Fees, I have used FSMOne multiple years already, there has not been a single time I got charged for US Stock/ETF dividend. |
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melondance
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May 12 2024, 07:46 PM
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Getting Started
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QUOTE(Davidtcf @ Apr 29 2024, 12:30 AM) Huh many of us buy stocks and ETFs at IBKR. Nothing to worry about. Can direct use Wise to transfer if want hassle free. Also for local broker to buy US stocks or ETFs now Moomoo Malaysia is cheapest, by public listed Futu. Can buy SPLG etf if VOO or SPY is expensive for you. But best bang for buck is still Irish domiciled ETFs as you save 30% tax from dividends earned by US gov. Our country need to have tax treaty with US if wanna avoid this tax. I invest in VUAA. CSPX getting too expensive for me. Only thing you avoid buying via local broker is estate tax. If u pass away suddenly, stocks and etfs in IBKR might get taxed by gov if claimed by loved ones. But you're not around that time already nothing for u to worry about. Give your loved ones the broker login details if so worry. Or if know gonna die faster withdraw every thing back to Malaysia first. Try split it up not exceeding RM25k each batch else will flagged by Bank Negara for CTR. Correction: Irish domiciled etfs don't get estate taxed. Only US stocks and ETFs do. Also only if u own them directly. If custodian broker type should not be affected. Now that Wise increased their transfer fee for ACH (USD local to USD international), if FSMOne do let us access LSE ETF (to avoid paying 30% WHT), it wouldn't make much sense to use IBKR anymore... Furthermore, after doing currency conversion MYR > USD > MYR, it seems like Wise only a tiny bit cheaper than FSMOne. This post has been edited by melondance: May 12 2024, 07:47 PM |
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melondance
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May 15 2024, 02:05 PM
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Getting Started
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QUOTE(buffa @ May 14 2024, 06:09 PM) Ya, processing fees, my bad. I was referring the other poster saying FSMOne has higher FX rate and platform fee. Overall, I think FSMOne is worth to use, if you dont want to do all those sg bank, RM > SGD > USD hassle. The only bad is no irish decimal ETF. Personally, majority of my holdings are in FSMOne. Only starting to deposit into IBKR 2 years ago for its Irish Domiciled ETF, if FSMOne release LSE ETF support for Malaysia platform, I would really prefer to have a local broker with office. If anything happens to me, I hope the process is as simple as possible. Furthermore, it is really really simple to deposit and withdraw from FSMOne, and the withdrawal from MYR cash account is instant too... The FX saved from using Wise or CIMB SG method shouldn't cause much loss to your wallet if you buy and never sell. |
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melondance
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Dec 8 2024, 08:03 PM
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Getting Started
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Curious if they have plan to offer access to London stock exchange for FSM MY?
Because FSM SG have it for almost 1 year already...
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melondance
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Jun 10 2025, 11:04 PM
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Getting Started
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QUOTE(jutamind @ Jun 6 2025, 08:52 PM) Bear in mind FSMOne processing fee will definitely come back one day. Based on historical pattern, promo for 0 processing fee last for 1 year after which, you'll be charged processing fee This market is really competitive nowadays with so many trading platforms. If they can earn enough from FX conversion rate, I think it is possible to offer free RSP. If not, RM1/0.15% whichever is higher will suit most people anyway. Some more they have office in Penang, KL and JB. The customer support is actually good as well. I have used FSMONE in parallel with IBKR since 2021. FSM also offer instant withdrawal for RM and you can deposit with FPX. Is it worth the extra hassle and a broker without local office just to save an insignificant amount of fees? This post has been edited by melondance: Jun 10 2025, 11:05 PM |
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