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FSMOne Review

Take advantage of 0% sales charge on all funds when you trade via FSMOne account.

Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

FSMOne is an online trading platform of Fundsupermart (FSM) which allows investors to manage multiple products traded across markets in Singapore, Hong Kong and the United States via one account. Take your pick from over 1,600 funds and over 900 bonds, including unit trusts, bonds, stocks and exchanged-traded funds (ETFs), managed portfolios and more.

Find out more about how FSMOne works, its offerings and costs in our review.

Quick take

Good for
  • Small transactions (S$10 minimum transaction fee)
  • Low fees and commission
  • Rewards programme
Not so great for
  • Limited global exchange options
  • Limited asset classes
  • Fewer tool and features compared to competitors

What is FSM?

FSM started as a small-scale financial services company in 2000. It was first incorporated as Fundsupermart.com Pte Ltd in 2000, it was later renamed iFAST Financial Pte Ltd on 11 April 2003. Today, the home-grown fintech veteran has expanded into four countries (Singapore, Malaysia, Hong Kong and India) and open doors for traders seeking low cost and convenient access to investment opportunities.

What investments do FSMOne offer?

You can trade the following investments through FSMOne:

  • Unit Trusts. Unit trust is a form of collective investment which pools investor’s money into a single fund managed by professional fund managers. The pooled funds are actively invested in a basket of assets such as stocks, bonds, a combination of these investments or even other funds by a fund manager.
  • Bonds. Bonds are debt securities issued to investors in return for lending their money to the issuer (governments or corporations). In return, the issuer makes regular interest payments and repays the principal to the investor upon maturity. For bonds with an investment amount over S$200,000 (or its equivalent currency) per transaction, you’ll need to be declared as an accredited investor in order to purchase.
  • Stocks and Exchange-traded funds (ETFs). Access to a wide array of stocks, including daily leveraged certificates (DLC) and structured warrant, as well as ETFs listed on the exchanges in Singapore, Hong Kong and the US.
  • Managed Portfolios (FSM MAPS). An online Managed Portfolio Service that builds, monitors and balances your portfolio to help you reach your targeted financial destination. FSM MAPS is available for all FSM account holders.
  • Cash Solutions. Park your excess cash and potentially gain higher yields from either a Multi-Currency Cash Account or Auto-Sweep Account (SGD) while waiting for an investment opportunity.

Key features of FSMOne

Navigate the markets and trade with ease through the features available on FMSOne online trading platform, such as:

  • For more experienced traders, FSMOne also offers extra paid features that provide access to advanced market data:

    What research does it provide?

    To help its clients zoom in on investment ideas and make informed trades, FSMOne provides invaluable insights and data conducted by its own specialised research team:

    • Macro research. Stay updated on key global economic news, prospects and trends with detailed research articles
    • Star ratings. At the end of each quarter, FSMOne reviews the various regional and single-country equity markets under their coverage to assess their attractiveness as an investment proposition based on a range of valuation metrics.
    • ETF focus list. New investors looking to narrow down the list of ETFs for low-cost, diversified approach to gain exposure to any broad market can stand to benefit from the ETF focus list.
    • Thematic portfolio. FSMOne builds thematic portfolios by identifying long-term megatrends and invest in diversified asset classes with a high probability of returns.
    • Product insights. Keep in the loop with the latest trend and news for funds, stocks, ETFs, bonds, managed portfolios.

    Pricing and fees

    One of the biggest perks from trading with FSMOne is its low fees and transparent fee structure. Here are some notable fees from FSMOne:

    • Account opening fee. It is completely free to open a FSMOne account.
    • No maintenance fee. You’ll not incur any maintenance fee nor required to maintain any minimum holdings to keep your account active.
    • 0% sales charge. All clients are entitled to 0% sales charge on all funds (Unit Trusts and Regular Savings Plan) and managed portfolios.
    • Flat processing fee. Diamond, Gold and Silver clients will only be charged a S$10 flat processing fee on SGX Stocks/ETFs.
    • Processing fees (for Bonds). Each Buy/Sell order for Retail, Wholesale, Bond Express, comes with a 0.35% processing fee. For SGS Bonds, each Buy/Sell order will cost 0.1%. All processing fees are subjected to a minimum of S$10 (or in its equivalent currency).
    • Platform fees. Platform fee is charged quarterly for funds and bonds investments (excluding CPF holdings) based on the daily average market value of the bonds. Investments in ETFs, Stocks, Managed Portfolios, Auto-Sweep Account will not accrue any platform fees.

    Below are FSMOne’s sales charges for ETFs and Stocks:

    Asset ClassSGXHong Kong (HKEX)United States (NASDAQ, NYSE, NYSE American, NYSE Acra)
    ETFs/Stocks (For each Buy/Sell order)
    • 0.08% (minimum S$10)
    • S$10 flat fee permanently for Diamond, Gold & Silver Clients.
    • 0.08% (minimum HK$50)
    • 0.08% (minimum US$8.80)
    ETFs Monthly Regular Savings Plan (RSP)
    • For Buy order instruction: 0.08% (minimum S$1)
    • For Sell order instruction: 0.08% (minimum S$10)
    • For Buy order instruction: 0.08% (minimum HK$5)
    • For Sell order instruction: 0.08% (minimum HK$50)
    • For Buy order instruction: 0.08% (minimum US$1)
    • For Sell order instruction: 0.08% (minimum US$8.80)
    Corporate Action
    • No charges
    • No charges
    • US$50 (Voluntary Corporate Action)
    Dividend Handling Fee
    • US$3 of gross dividend (applicable on US-based ETF/Stocks)
    • No charges
    • 1% of gross dividend subject to a minimum of US$2.50 and a maximum of US$25)
    (Retail, Wholesale, Bond Express)
    • 0.35% (minimum S$10)
    • N/A
    • N/A
    SGS Bonds
    • 0.1% (minimum S$10)
    • N/A
    • N/A

    FSMOne also offers some additional features that are available on a subscription basis:

    ServiceSubscription fee
    SGX Market Depth
    • S$21 (monthly)
    HKEX Market Depth
    • S$40 (monthly); or
    • S$1 (bundle of 50 snaps)
    HK Live Prices
    • S$24 (monthly)

    Fees are accurate at the time of writing (20 May 2020).

    Other transaction charges such as a CDP imposed clearing fee (0.0325%) and SGX trading fee (0.0075%) will be applied on the gross contract amount for stocks and ETFs. For Daily Leveraged Certificates (DLC) and Structured Warrant (SW), there’ll be a 0.004% clearing fee and 0.001% trading fee based on the contract value. All brokerage fees and other charges are subjected to 7% GST.

    For all other fees and charges, please refer to the FSMOne pricing structure provided on FSMOne’s website.

    Is FSMOne safe?

    FSMOne platform is equipped with security features such as:

    • SSL encryption. All transactions on FSMOne are processed with Secure Sockets Layer (SSL) protocol verified by Verisign to protect your data from getting tampered with before being transmitted to FSMOne’s server
    • Two Factor Authentication (2FA). Your FSMOne Account is protected from unauthorised access through two layers of identity verification – your login ID and password, as well as a One-Time Password (OTP) sent to your registered mobile number.

    How does FSMOne keep my money safe?

    FSMOne (iFAST Financial Pte Ltd) is a CDP Approved Depository Agent (DA) and holds the Capital Market Services (CMS) licence and the Financial Advisers licence, both issued by the Monetary Authority of Singapore (MAS).

    As a DA, FSMOne maintains a sub-account with CDP on behalf of each client. In the unlikely event whereby iFAST ceases operations, your investment holdings held under custody with iFAST will either be returned to the investors or transferred to another agent of your choice. The creditors of iFAST will have also have no claim over your assets.

    Pros and cons


    • Convenience. Track and conduct a trade anytime, anywhere with FSMOne web trading platform or FSMOne mobile app (available on both App Store and Google Play).
    • Low fees. FSMOne’s minimum fee is only $10, which is significantly lower than other brokerages, which is typically priced at $25.
    • Custodian account. No need CDP. You don’t even need to open a CDP Account to trade on FSMOne, which makes it easier and faster for first-time investors.
    • Rewards programme. Earn points from your investments and redeem for rewards ranging from retail to entertainment, bonus units of selected funds and more.


    • Limited global exchanges. FSMOne only facilitates trades from markets in Singapore (SGX), Hong Kong (HKEX) and the United States (Nasdaq and NYSE ).
    • Limited asset classes. Compared to some of its competitors, FSMOne offers a smaller range of asset classes for trading. Some examples of asset classes you can’t trade on FSMOne are Leverage Foreign Exchange (LFX) and Contracts for Difference (CFDs).
    • Competitiveness dependant on assets. You may incur quarterly and annual fees depending on which products you invest in.

    How do I apply for an FSMOne account?

    You can apply online for an FSMOne trading account (for personal or beneficiary accounts only) if you’re over 18, not a U.S. citizen and not a bankrupt. To apply, head to the FSMOne website and click on the ‘Open An Account’ button to initiate the sign-up process.

      Central Depository (CDP) Account

      Unlike most traditional brokerage that requires you to open a Central Depository (CDP) account and link it with their trading platform, it is not compulsory to open a CDP account before trading on FSMOne.

      If you trade on FSMOne without a CDP account, stocks purchased will be held in a custodian account on your behalf instead of being transferred into your CDP. The downside to this is, the stocks held in FSMOne’s custodian account will not be in your name, which may be at risk if something happens to the brokerage.

      If you prefer to open a CDP account before signing up for FSMOne, you may do so on SGX’s website.

      Required documents

      • Singaporeans/Permanent Residents and Malaysians: Front and back photocopy of your NRIC
      • Foreigners: Valid passport

      You’re required to submit ANY ONE of the following supporting documents:

      • Latest telephone/internet bill
      • Latest bank statement
      • Latest CPF – My Notifications Page (to be printed from CPF website)
      • Latest insurance statement

      *Do ensure that the supporting document is not more than 3 months old from the date that it is received by FSM.

      How do I contact FSMOne support?

      If you have any enquiries, you may reach FSMOne directly through the following contact details:

      • General hotline: +65 6557 2853
        • Monday to Friday (excluding public holidays): 10 pm to 5.30 am (Standard Time) and 9 pm to 4.30 am (Daylight Saving Time)
        • Saturdays (excluding public holidays): 8.30am to 12.30pm
      • Night desk (US trading): +65 6439 8007
        • Monday to Friday (excluding public holidays): 10 pm to 5.30 am (Standard Time) and 9 pm to 4.30 am (Daylight Saving Time)
      • Live chat: Available on FSMOne website (same operating hours as hotline)
      • Email: clienthelp@fundsupermart.com

        Bottom line

        As the first investment platform in Singapore to permanently offer 0% sales charge on all funds and unit trusts, FSMOne clearly appeals to cost-conscious investors and retail traders. Another of FSMOne’s stand out features is its user-friendliness, streamlined interface and convenience of being able to consolidate and manage all your holdings in a single account.

        Before choosing an investment brokerage to conduct your trades, make sure to compare it with similar trading platforms in the market to see how it stacks up.

        Frequently Asked Questions

        Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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