Don't see any changes to the sales charge except that if you want to top up your existing funds, it has become as if you are investing for the first time. For eg: Principal greater china fund, minimum top up is $200 as per what is stated but they don't let you do that , instead you have to top up $500 (as if you are buying it for the first time).

The website has problems.

Need help. I bought a fund a few days ago. Usually before this new website design, it will automatically deduct from my FSM cash account (it will say as cheque payment--don't know why FSM use such term).

However, noticed that till date, it is still pending for payment and choice of payment is only fpx online or upload deposit slip. I tried paying with the fpx online just now but decided to cancel it halfway as was wondering if there would be double payment as don't understand why they are not deducting from my cash account as per previously before this stupid new website. Now, its not letting me pay using fpx online anymore (as I cancelled the earlier one) and I'm supposed to mail proof of payment to them and then do a stupid upload or mail them proof of payment when pay. Guess they are expecting me to go to my bank account and do payment from there Really mad as I got a good price for the fund a few days ago. Most likely will just cancel the order. Really dislike this stupid new website design.

1) So question is how do we get FSM to use our cash account for payment next time I want to buy?

2) Also, will I still get the price based on date of order if I make payment today as it has been a few working days already or will it be base on the working day that I made payment which will then be on Monday?



This post has been edited by abcn1n: Nov 21 2020, 01:03 AM

ericlaiys Thanks. T+3 [is the 3 working days or 3 days (inclusive of Saturday and Sunday)? I bought it on 18/11 before 3pm]

From FSM :
"FPX payment method is not available for this Purchase Order (PO) as the previous attempt to make payment was not completed or unsuccessful. You will not able to make a payment for the same PO using FPX.

You may continue with this PO by mailing cheque and upload your bank-in slip OR if you would like to make payment via FPX, kindly place a new order."

LOL, who mails cheque nowadays for this type of thing. Sigh, have to cancel order then



Thanks. This FSM really Change the 'method'. I'm sure I'm not the only one that encountered this problem. Previously automatically will just deduct from cash account (and show as cheque/FPX once everything processed). Now it seems automatic deduction is through FPX. The option to pay by cash is not even highlighted and will only be shown if we click on cheque/FPX first, then only can see the cash method and then select cash from there. Really stupid. If I were the boss, I would have fired the person/tech guy that design/approve it. Ok, end of rant and sorry for the rant.


Have always avoided AI /disruptive funds. Guess, I should have looked into it more.

Currently, funds are doing rotational play from tech into value investing and also certain emerging market where stocks have not risen.

This post has been edited by abcn1n: Nov 21 2020, 01:34 PM

They won't layan one. Just waste my time only

Thanks

I think she will be proven right ultimately. Unfortunately I entered her various ARK funds just before the crash. So really stuck at penthouse level. Over -invested in her funds, so can't average down at this stage. Have to wait for further drop before I can even begin to buy in. Sigh!

This post has been edited by abcn1n: Mar 11 2021, 03:25 PM

Not yet

WhitE LighteR When did you receive it? I still haven't received it. Its not in my historical transaction records at all

lee82gx Have not received mine either. Let's keep each other inform when we receive it

This post has been edited by abcn1n: Mar 17 2021, 05:18 PM

Received mine also

Just bought stock from FSM. Hopefully still can get the $100 bonus. If anyone received the bonus, do post it here and mention also when you bought the stock/etf

Received email too. Yeah, I also only bought small amount as wasn't sure whether I qualified for the $100

IMHO, this is really a good strategy by FSM Malaysia. It allows small investors to get in and/or people who want to invest very frequently and regularly. RM1 is way better than USD1.

Yes. I know that US ETFs dividends are taxed at 30% vs Irish domiciled 15%. Spread between Irish domiciled ETFs are wider vs US ETFs though, less liquidity, lousier pricing and some may have larger minimum amount /disallow fractional shares.

So ultimately it depends on the person's budget, frequency of trades, the amount size and so on. For me, I haven't tried a regular plan yet but may be tempted to do it here/partially here.

This post has been edited by abcn1n: Nov 8 2023, 06:24 PM

How did you get burned by FSM (don't need to answer if you don't want to)? Yes, am aware of Vuaa. Guess you prefer Cspx due to the narrower spread.

Dammm...forgot about fx spread. Yeah, most likely not worth it if thinking of the conversion. Thanks for the reminder. Guess FSM regular plan is out then

Yes. Didn't think about forex spread.

Wonder, can we convert 1 huge sum from RM to USD, then slowly/regularly FSM takes from there (the USD converted already) each time its time to invest. If so, can convert 1 shot when the exchange rate is good. Not sure how it works for FSM

I think have to see what funds you invested. If there's China funds or reit funds, then can understand the red figures.

Err...getting confused. You are converting to USD1k+. How come suddenly got USD390.88? Also why got processing fee USD3.8? I thought processing fee just RM1?

USD etf kot?? Don't understand but its ok. Yes, IBKR is the cheapest currently.

Its not shelved, its just been delayed to year 2026 (either beginning or end year--can't remember).

Thanks