Hi gsem984

I invest in funds at iFast and PMO (Public Mutual).

I can't confirm if that agent you're telling us about is a scammer or not.  But I advise you to not fully 100% depend on any agent and do your own research about the funds.  And it's not recommended to let them manage your iFast & bank account.

Anyway, I would like to share my experience.

For PMO, although I have an agent, he doesn't do anything & reluctant to help do anything, and so I have to manage my own funds.  But hey, at least I am able to manage my funds via their online system without relying on my lazy agent.

For iFast, my agent (advisor) marketed it to me as a fully online system.  However, it's actually not.  For us clients, all we can do is view funds, and deposit money into our iFast account to be used by our agent to invest in funds.  We can't manage our own funds and need to rely on the agent to do it.  So better get an agent who will cooperate with you, if not, you sure vomit blood.

Usually I'll do some research, and then I'll contact my agent, and tell him which fund I would like to invest in.  He'll give feedback regarding that fund.  If I wish to proceed, then I'll need to deposit cash into my iFast account.  And then my agent will follow-up, and that's it.

Anyway, the only reason why I prefer to invest in iFast funds compared to PMO is because I found that iFast funds are doing way better.

I started investing at iFast in Oct 2019.  Attached is the screenshot of "Unrealised P/L".