FSMOne FundSupermart Review [2024] | Dollar Bureau (2024)

With competitive pricing, the FSMOne FundSupermart online brokerage platform is a hassle-free way to invest in multiple instruments in multiple markets.

It was launched in December 2016 to provide a seamless service to the investors’ community in Singapore.

One great thing with the platform is that you can make use of DIY features while trading. Otherwise, you can make use of the professional guidance provided by their team.

With its competitive attitude, the FSMOne FundSupermart it’s a considerable option in the market of Singapore-based online brokerage platforms.

In this post, we’re reviewing the FSMOne FundSupermart, keep reading.

Markets Offered by FSMOne

With FSMOne, you get exposure to 5 global markets —

• Singapore Exchange (SGX)
• United States Exchanges (Nasdaq and NYSE)
• Hong Kong Exchange (HKEX)
• China A-Shares (HKEX – China Stock Connect – Shanghai and Shenzhen)
• Bursa Malaysia Exchange

Tradeable Asset Classes offered by FSMOne

When it comes to investment, the best part is that along with cash investments, the platform offers you the opportunity to invest your CPF and SRS funds at a permanent 0% sales charge.

You’ll see here a good range of investment products, which makes the platform worth using.

Here is a detailed list of investment products offered by FSMOne in the respective markets.

Apart from these, creating an account with FSMOne will benefit you with the following investment products too –

• Global Unit Trusts and Mutual Funds: FSMOne allows you the benefit of over 2,008 unit trusts offered by 305+ leading fund managers providers.
• Local and global bonds: In addition to retail bonds, FSMOne offers wholesale bond services as well as Bond Express, which allows you to execute retail bond trades instantly.

Fees, Charges, and Minimum Investment with FSMOne

The fee structure at FSMOne is transparent and reasonable, although not the cheapest in Singapore.

Let’s see different fees inherent in different markets and asset classes.

Stocks and ETFs Fees

Fund Fees

Take note that although there are low fees and no sales charge, these are only platform-level fees.

You will still incur a sales charge and annual fees depending on the funds you purchased.

Bond Fees

Cash Account and Auto-Sweep Account Fees

CPF/SRS Investments Investible Limits

Minimum Investment Required on FSMOne

There’s no minimum investment needed to buy stocks or ETFs on FSMOne, as the investment amount depends on the transacted price and quantity of the Stocks / ETFs you are buying.

However, FSMOne does not offer fractional shares, thus, you’ll have to pay the full amount if you want to purchase a stock – which might be out of reach for many.

To work around this, you can opt for their ETF regular savings plan (RSP) where you can start with just S$50.

However, the selection is much more limited.

Promotional Offers and Rewards

FSMOne doesn’t offer attractive welcome rewards to its new users as compared to newer brokerages in the market.

At the time of writing, there aren’t any welcome rewards available, but after doing some digging, the rewards are usually a few free trades offered to you.

This, however, doesn’t mean that they won’t have more attractive promotions after – you just have to keep yourself updated!

But if you want to open an account now and are looking to get free shares and trades, brokerages like moomoo and Webull Singapore are offering more attractive rewards.

Sign-up, Funding, Withdrawal, and Currency Exchange Options with FSMOne

Sign-up

Signing up with FSMOne is an easy and simple 3-step process. For that, go to their website and click on the “Open an Account” button visible in the top right corner of the page.

Now, you’ll come across 3 optional statements — I’m A New FSMOne Client, I’m An Existing FSMOne Client, and I’m Opening An Account For A Company.

Click on the first statement if you want to open a personal account.

Then you’ll have to select the account type — Personal Account or Beneficiary Account. Click on New Personal Account.

Now, you can open your account in 2 ways. If you’re a SingPass Holder, you can open your account instantly with MyInfo.

Otherwise, you can manually fill out the form and get account approval within 1 working day.

Funding and Withdrawal

The platform has introduced 3 types of funds including cash, CPF, and SRS, which you can use to make your investments.

If you choose to fund with SGD, you can deposit through FAST or PayNow Local Bank Transfer.

Using this method, you’ll receive your funds in your FSMOne account instantly.

As for other funding and withdrawal methods, FSMOne accepts Telegraphic Transfer too.

You would probably know by now that cash is not the only option you have on FSMOne; CPF and SRS funds can be used too!

Below is a table showing which investment products you can choose from based on your choice of funding type(s).

What makes FSMOne’s FundSupermart stand out is that it allows you to invest using your SRS account and CPF-IS.

This is especially important as not many brokerage platforms or robo advisors allow you to invest through SRS and CPF funds.

Currency Exchange

With FSMOne, you are provided with real-time foreign exchange and currency conversion.

They give you access to 11 currencies in total including SGD, USD, HKD, MYR, AUD, EUR, GBP, CNH, NZD, JPY, CHF, and CAD.

Is FSMOne Safe?

Reputation

Founded in the year 2000, FSMOne is an established and reputed entity in the field of online brokerages.

With offices in Singapore, China, Hong Kong, Malaysia, and India, it’s considered one of the most recognisable names in the field of financial services.

Security

FundSupermart is the Business-to-Consumer (B2C) division of iFAST Financial Pte Ltd.

It is licensed by the Monetary Authority of Singapore (MAS).

iFAST Financial Pte Ltd also has the Business-to-Business division called iFAST, which wealth managers and financial advisors use to help you with your investment if you decide to opt for iFAST instead of an ILP.

This is also licensed by the MAS.

Thus, with FSMOne’s FundSupermart, your funds are safe with the two-fold security of the platform along with other custodian entities like iFAST Financial Pte Ltd.

Besides, all your digital communications with the brokerage are authenticated with Two-Factor Authentication (2FA), which is protected by a One-Time Password (OTP).

You just need to register your mobile number for two-factor authentication.

Processing of all transactions on the platform is done with strict security using the Secure Sockets Layer (SSL) protocol.

This is the security standard used by the world’s top financial institutions.

It is verified by Verisign, the leading authority on Internet security.

So, your transactions on FSMOne are completely safe and secure.

Customer Support with FSMOne

FSMOne has included a customer service hotline, email, fax, and website live chat to support you using their platform.

You can contact them anytime between 8:30 am to 10:30 pm on Mondays to Fridays, and between 8:30 am to 12:30 pm on Saturdays with the exception of Public Holidays.

Note that their customer support teams may take a while to respond to your queries owing to increased volumes of calls and emails.

Apart from that, they have lots of support pages, which you can use without contacting their support team.

As an example, they provide a comprehensive New Investors’ Guide page to assist new investors on the platform with possible questions.

FSMOne includes a Webinars and Tutorials page, which you can use for investment-related learning.

FSMOne School is another page designed to help build a strong foundation for potential investors on the platform to become more competent in handling their finances.

The platform also has a section dedicated to FAQs, which can be helpful to investors.

Conclusion

With a wide range of product offerings, FSMOne is highly recommendable. With competitive fees and reward programs, it’s suitable for any kind of investor with any experience level.

Furthermore, it provides access to Malaysia’s Bursa, so if you’re a halal investor, you can find many halal stocks, halal ETFs, and halal REITs that are listed there.

But, if you look at it closely, you’ll see that its fee structure is complicated, and fees are not the lowest if we consider other brokerages.

Given that fees play a large part in choosing an online brokerage, in my opinion, it might be better to select a cheaper alternative.

For example, FSMOne charges a flat S$8.80 for SGX, minimally HK$50 for HKEX, US$8.80 minimum for US markets, and minimally CNH40 for China A Shares.

Moomoo charges a minimum S$0.99 per order for SGX and HK$18 per order for Chinese markets.

Webull Singapore provides free trades in the US markets and offers you the ability to purchase fractional shares from as low as US$5.

Nevertheless, if you’re trading in large amounts in the Singapore market, then FSMOne’s FundSupermart might be better for you due to its flat fees.

Regardless, we prefer moomoo if we’re trading in the Chinese and Singapore markets, and Webull Singapore if we’re trading in the US markets.

If you’re interested, you can check out the pages below for the updated referral rewards on both moomoo and Webull Singapore.

Moomoo: https://dollarbureau.com/tools/moomoo/

Webull Singapore: https://dollarbureau.com/tools/webull-singapore/

We partnered with both brokerages to bring you exciting offers, so don’t forget to use our referral links!