FSMOne Online Brokerage Review: What Makes it Stand Out?
FSMOne Online Brokerage Review: What Makes it Stand Out?
ValueChampion Rating 
Pros
- Low international trading fees
- rewards programme for investments
Cons
- Not the lowest fees in the market
- Access to limited markets
FSMOne FundSupermart's online trading platform has low fees for trading in Singapore and international markets. In addition to low fees, the FSMOne Prestige Privileges offers interesting rewards for those who invest large sums of money. Take a look at one of Singapore's online brokerage platforms below to know more about their features such as processing fees and more.
| Summary of FSMOne Online Brokerage |
|---|
| Flat processing fee of SGD 8.80 for all FSMOne clients |
| Low minimum commission fees of 0.08% for the US, China, Malaysia and Hong Kong |
| Access to 2 international markets |
| Quarterly or annual fees for Bonds, Trusts and Funds |
| Reward system for standard and gold/diamond customers |
| Promotions: |
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 the United States, China, Malaysia 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, the FSMOne Prestige, 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 Gold/Diamond 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 when investing in Singapore. While they only charge flat fee of SGD 8.80, other firms like Tiger Brokers charge 0.03% with a minimum fee of S$0.99 per order 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.
| Status | Gold | Diamond | Gold+ & Diamond |
|---|---|---|---|
| Qualifying Amount to Trade | S$200,000-S$499,999 | >S$500,000 | Tiered accordingly to AUA |
| No Rewards Points Expiry | Yes | Yes | Yes |
| Priority invitation to Closed-Door Events | Yes | Yes | Yes |
| Exclusive Rewards Item for Redemption | Yes | Yes | Yes |
| Investing on your Birthday Month | 1,800 points | 2,500 points | Tiered according to Status |
| Reward Points for Investment Product Purchase | 20% | 30% | Extra 10% (Tiered according to Status) |
| FSMOne Referral Program | 20% | 30% | |
| Rewards Points on Your First Transaction | 30% | 40% | |
| STOCKS / ETFS (SGX / HKEX / US) | |||
| SGX Stocks/ETFs (Processing Fee) | S$8.80 flat fee permanently | ||
| HKEX Stocks/ETFs (Processing Fee) | HK$50 flat fee permanently | ||
| Dedicated Dealer Access | - | Yes | Yes (Diamond+ Only) |
| Subscription to new SGX IPO private placement issue | - | - | Yes |
| Subscription to new HKEX IPO issue | - | - | Yes |
| Monthly Market Data Subscription | 10% off | 20% off | Tiered according to Status |
| Wholesale / Retail Bonds | |||
| Investing from S$5,000 on Bond Express | - | - | Yes |
| Unit Trusts | |||
| 0% Platform Fee for Unit Trusts | - | Yes | Yes (Diamond+ Only) |
| Insurance (Commission Rebate) | |||
| Insurance products (only for policies paid with cash and upon inception) | 40% | 45% | Tiered according to Status |
| Estate Planning Services | 20% off | Tiered according to Status | |
| Rewards Points on your Birthday Month (Unit Trusts/MAPS/Bonds(buy or sell)/Stocks/ETFs (buy or sell) | 1,800 points | 2,500 points | Tiered according to Status |
| Rewards Points On Your First Transaction* | |||
| Unit Trusts | 20% | 30% | Extra 10% (Tiered according to Status) |
| Wholesale / Retail Bonds | |||
| Bond Express | |||
| Stocks | |||
| ETFs | |||
| Managed Portfolios | |||
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% for FSM compared to the market average of 0.10%-0.20% and FSMOne's portfolio management fee is 0.0875% and 0.125% 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 international trading. For example, many traditional banks charge between 0.18%-0.28% while non-banking institutions charge between 0.06%-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 charges for trading in Singapore 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 |
|---|---|---|
| Singapore | Flat fee of SGD 8.80 | - |
| United States | 0.08% | USD $8.80 |
| Hong Kong | 0.08% | HKD 50 |
| Malaysia | 0.08% | MYR 8.80 |
| China A Shares | 0.08% | CNH 40 |
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 $1,000, though once you have purchased a fund at the minimum amount subsequent purchases will only require $100. The following table outlines those fees.
| Product | Fee | |
|---|---|---|
| ETFs | 0% | |
| Stocks | 0% | |
| Robo-Advisory Portfolio | 0.0875%-0.125% per quarter | |
| 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.
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Stephen Lee is a Senior Research Analyst at ValueChampion, specializing in insurance. He holds a Bachelor of Arts degree in International Studies from the University of Washington, and his prior work experience include risk management and underwriting for professional liability and specialty insurance at Victor Insurance. Additionally, Stephen is a former US Peace Corps Volunteer in Myanmar (serving between 2018-2020), where he continues to provide business development consulting services to HR companies in Asia Pacific.