I was going to invest in my Ut this noon and got notified that I am able to open a CDS account (much to my surprise).

Looked through this sub and nobody was asking about this so here's to a start to a new player in town


More here.

https://www.fsmone.com.my/stocks/get-started/stock-fees

BTW I opened my CDS account with them as its free during this promo. Will try to use it and see if it beats my HLE account

minimum fee RM8.80..
if u invest RM20k (0.05% fee), then u can save money on fee..
btw, account is nominee..

This post has been edited by fms21: Mar 26 2021, 08:51 AM

Oh shoot. Okay then back to Hong leong Bank.

I skipped that part

Nominee account no use. Can't apply ipo

wow, upgraded broker now..

How does it fare compared against Rakuten?

Applied CDS at 4pm.

CDS account approved at 5pm.

Hi there,

I cannot find the promo where there is free account opening. Costs RM10, and do you know how to transfer the money into Cash Account and any charges? Can't seem to find the faq for money transfer in.

Also please note that currently FSM doesn't have the Amalgamation function. So u cannot combine your orders for the same counters for the same day. Actually doesn't matter since there's no max cap like Rakuten.

No charges, i actually transfered money from my CMF to the cash account.

What's CMF? I am totally new to FSM... their website FAQ and live chat couldn't give me answer. Rakuten uses offline deposit method (no limit) and online method vs FPX (30k limit).

Not sure how FSM works since u need to have cash in your account in order to trade.

1.1% interest rate beats rakuten at 1%. And commission is half of rakuten which makes it a good deal.

CMF is FSM money market fund.

But for stocks, u need to have money available in their cash account first (different from CMF). So a little pre planning is required i think.

This post has been edited by WhitE LighteR: Mar 25 2021, 06:18 PM

https://www.fsmone.com.my/funds/research/ar...!?src=funds

Here you go.

free to open CDS..they will return back RM10 upon successful open of account..can use FPX to transfer money..FOC

Interest rate not really the priority i think

More like how's the platform stability. Any lagging encountered?

Nominee account. No thanks

Apparently they are kick starting their stock broking with zero commission till April (except for stamp duty and cover fees)

Still turned off with the nominee act

I thought if need apply cds account is no longer nominee?

cds account type got direct cds and nominee cds. FSM offering nominee.

If like that will fsm charge fees for dividen distribution?

from their FAQ, no.
corporate action also can do via online like Rakuten.

wondering will it take to credit into fsm account after payment date?

does anyone know what is the trading platform looks like? Any screenshot?

Looks similar to Hong leong ebroking user interface

thx.

How about pc web version? Similar to HLebroking too?

For the live broker Hong leong wins hands down.

FSM Web version Is similar to its app version.

Sooner or later you guys can have access to stocks and ETFs in US and HK.

https://links.sgx.com/FileOpen/iFAST_FSMOne...t&FileID=653549

definitely looking forward to that......

Same here. That I would invest in!

Well, I am an iFAST shareholder. But to be fair to you guys, definitely I can guess they will make money out of currency spread. For US market, they may learn from Robinhood and earn some bid-ask spread from "market-making".

I don't think the broker will set up nominee accounts in foreign currency for you guys to keep USD/HKD in cash. Most likely they will convert MYR in-house.

I may be wrong, but in any case, don't be happy too early.

This post has been edited by TOS: Mar 29 2021, 10:22 AM

Free brokerage fee or commission 0% from 29 March 2021 to 30 April 2021, you can capitalise on this to save some brokerage fee.

Assuming min amount RM8.88 per trade
you do 6 trades a week (buy & sell)
1 month later you saved RM213.12 on brokerage.

not bad huh~!

My account being temporarily block for 1 hour due to invalid login..Maybank also suffer same problem.lol

Phone login leads to many clicks in 1 time..

hmm, cant place transaction during break hours..
else i think is a fine interface, comparing to what i using now which is MBB.

My 1st try
Wonder why can i purchase a stock in less than RM100. ( My last involve in stock was 3 years back). I remember that time also easily thousand per transaction. Correct me if i am wrong.

And, i could find where to close trade...





This post has been edited by mephyll: Apr 1 2021, 04:00 PM

I think that's the beauty of nominee account and someone up on top said FSM is similar to Robin Hood broker where you don't actually own the stocks. They do so of course they can buy in bulk under they name and make you own part of their stocks.

Robinhood was exposed by GME apes to have manipulated the stock against their own customers

Can we get dividend from share by using this nominee acc??
Can't find any info from website..

Try harder bro.

https://www.fsmone.com.my/support/frequentl...tUniqueKey=2620

How will I receive my dividends? What will happen to my dividend distributions with cash or scrip dividends option?

Cash Dividend

The cash dividend is paid out based on the default declared currency only. Optional currencies are not available on our platform. The cash proceeds will be credited into your respective currency cash account, after payment date or upon confirmation of receipt of payment (whichever is later)

Scrip dividends

The shares will be credited into your holdings and reflected in your account after the stipulated date. As such, you can only sell these shares after they have been credited into your account.

lol..maybe because I check from apps..
limited resources..

How to withdraw cash from the cash account?

8.80 isnt the lowest available.

yup agree.

but i quite like the interface of FSM for its shares trading, the valuation information and quick COMPS are very useful for me.

plus point for me.

In addition to that, right now the commission free promotion is still on going, so it's also good to capitalise on that.

after this month then will decide and see whether or not to stick with FSM stock or go back to the conventional broker.

how to select the Maybank dividen option if buy through fundsupermart?

check the FAQ, i think should be stated in there.

You have to contact them as this is a nominee account.

Guys,

Does this means dividend handling fee is USD3 for dividend issued by securities on SGX counter? which is almost more than rm10 being charged each time receive dividend from securities?

There is a Corporate Actions page for you to select after ex-date.

Its for US based ETF if you look at it carefully

Thanks. Just wanna clear any terms which seems contridicting

Bracket written says US applicable ETFs only

Some good progress:

iFAST is preparing to offer US/HK stock trading from Malaysia.



This post has been edited by TOS: Jul 16 2021, 06:02 PM

Brokerage link in progress hopefully FX will be on spot rate then MIDF can close shop

It has arrived.

https://www.fsmone.com.my/funds/research/ar...!?src=funds



However, fees are rather expensive compared to foreign broker, but much cheaper compared to local brokers that offer US/HK investment. https://www.fsmone.com.my/stocks/get-started/stock-fees

This post has been edited by TOS: Aug 5 2021, 12:00 AM

Malacca Securities (M+) still one of the best out there..

I'm interested to buy NYSE stocks through fsmone, but why la the fees so high. $8.8...

China A shares have arrived at FSM SG. Not available on FSM MY yet however.

https://secure.fundsupermart.com/fsm/articl...e-on-fsmone-com

Cause they are sg brokerage and lots of Singaporean prefer the safety of a physical office.

Avoid FSM for us stock at all cost. Go with Moomoo, TD or interactive broker.

For investor, it is very convenient can use FSM to buy US stocks. Like one app to rule them all. Can instantly change RM to USD at reasonable rate as well. For trader maybe not suitable due to usd8/trade

Are you sure the forex rates are reasonable? Have you confirmed with fintech service providers like Instrem, Wise, Sunway Money, Bigpay etc. and/or money changer?

This post has been edited by TOS: Oct 15 2021, 07:58 PM

I just changed at RM4.18. 1 hour ago. Internet google rate is around RM4.16. So it is reasonable for me

There goes your 0.5% just on forex conversion minimum so you can actually check beforehand you convert

Do you mean I can convert outside at 0.1% rate and bring it back FSM to directly buy US stock? Or using IBKR? IBKR for me is another hassle.

HLe brokerage is cheaper for HKEX .. not sure FSM will reduce their price

No way because cash account is still in rm hence you will pay according to their FX rate

Only this early international broker like IBKR and like will have preferential live FX spot rate which is why ppl go there and trade

Still expensive. Paying USD8.80 Vs USD0.35/transaction or even USD0.00. Big differences.

Let him be as he likes to make banks and brokers richer

from the FSM website, even if you buy US Stocks, you have to pay the msian stamp duty? MYR 1.00 for every MYR 1,000.00 contract value, maximum MYR 200.00...

Yes. FSM is still a bad place to buy US stocks. For small amout, paying that transaction fee is not justify at all.

Yes because you’re buying through local broker same as you buy with local investment bank so as well

Stamp duty not a main concern charges but buying of charges of minimum 8.80 or 0.8% is the one that kills you

Imagine buying just 1 Apple share it is already takes up almost 8% extra just on charges

For those who buy lump sum and holding for years by all means it is only 2% more with FX conversion rate compared into international brokerages

I can only share how share how to keep more money for one ownself. Up to that person if he wants to make banks and brokerage richer or make himself richer.

Agreed wholly sometimes advice then let it be

Soon, you can buy SGX shares from FSM Malaysia. You can then access S-REITs from FSM Malaysia!

https://links.sgx.com/FileOpen/iFAST_Result...t&FileID=687862

the only drawback is the high transaction fees......

Be prepared to pay at least 0.8% or SGD8.80 whichever is higher per trade instead

There is a reason I am an iFAST shareholder

Watch out. With moomoo and tiger, it's only a matter of time before iFast also burns cash to compete with them. I am rooting for Moomoo as they are backed by tencent.

I foresee that day to come. In HK, moomoo ads appear everywhere, on public buses, in almost all MTR stations.

You should beware of regulatory risk too. Anyway, I didn't know you have stakes in Futu. You write options on Futu stocks listed in NASDAQ?

This post has been edited by TOS: Oct 26 2021, 07:28 PM

I don't have stakes in futu but I have tencent HK version. No way ifast can compete if they don't burn money or else guarantee to lose market share.

I heard it's a good platform. This is coming from sg investors who don't bother about sg stocks at all (same boat as them who love to buy when market is red). They are mainly using IBKR and TD. They said they are impress with moomoo. I only have tiger and so far so so. I didn't open Moomoo yet so can't comment if it's better than tiger.

iFAST has other businesses like B2B segment. Time will tell who wins.

Anyway, I think you have heard of "embrace, extend, extinguish", the triple-E strategy.