Those who regularly invest would understand the difficulty of keeping up-to-date your entire portfolio. Having diversified your money into different asset classes over the years, it can be a hassle to keeping track of where all your investments are and how they are performing.
For example, if you have bought stocks from different brokerage firms, some of your holdings would be credited into your Central Depository (CDP) account while others may be held on your behalf under a custodian account.
Aside from stocks, you may have also invested in other assets such as bonds and unit trusts. These assets similarly are held with multiple financial institutions that you bought the products from.
FSMOne – Managing All Your Investments In One Single Platform
If you find it a hassle to log in to multiple accounts in order to manage your investment portfolio, Fundsupermart is hoping that its FSMOne will be the one investment account that you have been looking for.
Launched in December 2016, FSMOne allows investors to manage different types of investments using Fundsupermart. These include unit trusts, bonds, insurance, stocks and exchanged traded funds (ETFs) on the Hong Kong Exchange (HKEX) and as recently announced, stocks and ETFs on SGX.
FSMOne initially made waves in the investment community when it was first launched, though ironically, not for reasons it expected. Just one day later, the company announced that trading of stocks on SGX through FSMOne was no longer available till further notice. This was because its counterparty then, OCBC Securities, was not able to provide access to FSMOne customers.
Since then, things have changed. Last month, the company announced that it had obtained its Trading and Clearing Member license from SGX and will be able to offer SGX stocks and ETFs trading capabilities on its FSMOne platform.
Buying SGX Stocks Through FSMOne
Similar to its competitive distribution fee for unit trusts, FSMOne is offering investors low commission rates for trades on SGX stocks and ETFs.
Here’s a quick comparison of its rates against other traditional brokerage firms in Singapore.
A simple glance would show that the rates offered by FSMOne are as competitive as any other brokerage firms in Singapore. However, it’s not the only reason why we think investors would find FSMOne helpful.
If you want to stay connected to the market even when you are on the move, the FSMOne mobile app would allow you to manage your investments while on the go. These are not just restricted to stocks, but all other investments such as your bonds and unit trusts that are held in your FSMOne account.
The FSMOne mobile app can be downloaded on both the App Store and Google Play.
FAST Payment Eligible:
FSMOne is a pre-funded account. This means that stocks that are bought through FSMOne will automatically be paid from a prefunded account. This makes it convenient, as you do not have to worry about remembering the exact figure or forgetting to pay for the stocks.
This prefunded account can also be topped up easily as investors can use FAST payment, similar to how we usually transfer funds from one Singapore bank to another.
Trade Stocks On The Hong Kong Exchange (HKEX) Using FSMOne
Similar to buying stocks on the SGX, FSMOne allows investors to trade stocks on the HKEX using your prefunded account. To do so, you will need to convert your Singapore Dollar to Hong Kong Dollar before making purchase of stocks on HKEX.
To facilitate that, FSMOne has its FSM FX that allows you to do foreign currency conversion at competitive, real-time rates without having to incur high conversion fees. This also means that if you are thinking of buying stocks on the HKEX in the future, but see a favourable exchange rate that you like today, you can do the conversion first, and then buy the stocks at a later time.
FSMOne – Offering You Investment Convenience In One Single Location
As mentioned in our previous article, Fundsupermart was a financial technology (FinTech) company even before the term FinTech became a buzzword.
Most of the features above that FSMOne offers is similar to what investors would expect from a disruptive FinTech firm. Offering a more competitive, efficient and streamlined services for users to compare and buy different types of products online, without the need for an intermediary.
In our opinion, FSMOne’s biggest sell that investors will find most attractive is its convenience of being able to merge and manage all your investments into one single account. Stocks, units trusts, bonds and even insurance, FSMOne allows you to consolidate all your holdings and to manage them on demand.
In addition, account holders also get to enjoy a wealth of investment insights, which is produced regularly by the Fundsupermart research team. These include write-ups on individual stocks, bonds, unit trusts and macroeconomic themes that investors should know about.
How To Get Started On FSMOne
To start transacting on FSMOne, investors can open an account with Fundsupermart. Opening an account is free and there is no need to keep a minimum balance for your account to remain active.
This article was written in collaboration with Fundsupermart. All views expressed in the article are the independent opinions of DollarsAndSense.sg
Bonds and Fixed Income