FSMOne FundSupermart's online trading platform has low fees for trading in Singapore and international markets. In addition to low fees, they're premier status investing account offers interesting rewards for those who invest large sums of money.
|Summary of FSMOne Online Brokerage|
|Low minimum commission fees of 0.08% for Singapore, the US, and Hong Kong|
|Access to 2 international markets|
|Quarterly or annual fees for Bonds, Trusts and Funds|
|Reward system for standard and premier accounts|
Table of Contents
- What Makes FSMOne Stand Out to Investors
- Investment Opportunities at FSMOne
- FSMOne Fees
- FSMOne Investor Eligibility Requirements
What Makes FSMOne FundSupermart Stand Out to Investors
FSMOne FundSmart is a good platform for investors looking to pay lower-than-average fees for trading in Singapore, the United States, and Hong Kong, as they only charge 0.08% commission for each trade and have below average minimum rates. FSMOne also has a rewards program, making it a good option for those looking to make larger-scale investments since the entry requirement is over S$200,000. With both their standard and premier accounts, one can receive points from transactions to redeem vouchers, charity donations and gain access to exclusive events.
That being said, FSMOne is not the cheapest online brokerage on the market. While they only charge a minimum fee of S$10 per trade, other firms like Tiger Brokers charge a minimum fee of S$2.88 (currently S$0) to invest in Singapore. Moreover, since some of the products you can trade carry quarterly or annual fees, FMSOne is not the cheapest on the market. Those who wish to find the most inexpensive trading options may wish to see our top choices to find a more suitable alternative.
Investment Opportunities at FSMOne FundSupermart
With an FSMOne Personal Account, you can invest in stocks, ETFs, and funds with both cash and your CPF/SRS retirement funds. Traders who wish to invest a large amount of money (S$200,000 and up) might instead consider applying for one of FSMOne's premier accounts. These accounts reward customers with exclusive shopping and dining vouchers, donations to charity, priority invitations to closed-door events, and discounts on estate planning services and insurance products. Check out the table below to the full extent of rewards offered for the premier accounts.
|Qualifying Amount to Trade||S$200,000-S$499,999||>S$500,000|
|No Rewards Points Expiry||Yes||Yes|
|Reward Points for Investment Product Purchase||20%||30%|
|FSMOne Referral Program||20%||30%|
|Birthday Month Reward Points||30%||40%|
|Monthly Market Data Subscription||10% off||20% off|
FSMOne allows any account holder to make use of their managed portfolio services and cheap robo-advisor platforms. For those interested in having FSMOne manage their portfolio, it's worth noting FSMOne could be a cheap option. For instance, the commission rate is 0.08% for FSM compared to the market average of 0.10%-0.20% and FSMOne's portfolio management fee is 0.2% compared to the market average of 0.25%.
FSMOne FundSupermart Fees
Compared to other online trading platforms, FSMOne offers some of the lowest fees in the market. For example, many traditional banks charge between 0.18%-0.28% while non-banking institutions charge between 0.08%-0.10%. This lends FSMOne to being a preferable option for those looking to find lower fees and a variety of services. The table below indicates the investment fees for Singapore and the international markets that you could invest in with FMSOne. While their international charges aren't the least expensive, the rates are still lower than most major financial institutions.
Investment Fees for Trading with FSMOne
|Market||Commission Fee Per Trade||Minimum Amount||Average Commission Fee in the Market||Average Amount Input in the Market|
|United States||0.08%||USD $8.80||0.27%||USD $15-$19|
|Hong Kong||0.08%||HKD 50||0.21%||HKD $100-$200|
One thing to be aware of is that FSMOne charges quarterly and annual fees depending on which products you decide to invest in. This means that despite the low commission and minimum rates for certain markets, FSMOne could lose its competitive edge compared to other online brokers. Moreover, most FSMOne products require an initial investment of $1,0000, though once you have purchased a fund at the minimum amount subsequent purchases will only require $100. The following table outlines those fees.
|Robo-Advisory Portfolio||0.20%-0.50% per annum|
|Bonds (Retail, Wholesale, Bond Express)||0.05% per quarter|
|SGS Bonds||0.025% per quarter|
|All Unit Trusts CPF Investments||0%|
|All Unit Trusts Cash and SRS Investments||Fixed Income Funds||0.05% per quarter|
|Other Funds (Alternative Investments, Balanced Equity, Etc.)||First S$300,000||0.0875% per quarter|
|Remaining Amount Above S$300,000||0.05% per quarter|
FSMOne FundSupermart Investor Eligibility Requirements
To open an account, you must provide a photocopy of your NRIC and a proof of address, which could be in the form of your latest bank statement, latest phone bill, latest CPF or latest insurance statement. New and existing FSMOne customers can easily apply online and expect to hear a decision within one day.
Since you are not required to maintain a minimum balance to keep your account active, this trading platform also works well for those who are not familiar with trading and might want a more passive application. Moreover, it could also be useful for experienced traders who want to accumulate rewards while they invest. While the up-front costs are lower-than-average, other providers offer cheaper rates.