New on FSMOne.com (Sep 2020) – Go Electronic! E-Link your CDP account and E-Submit Forms (and more)

Enjoy the Convenience of Digital Forms Submission

E-Link Your CDP Account to FSMOne.com!

In contrast to most other local brokers, stockbroking services on FSMOne.com are offered based on a custodian model, where the holdings are held under a custody account with iFAST Financial Pte Ltd (‘iFAST’), a licensed custodian under the Monetary Authority of Singapore, and a Central Depository (CDP) Approved Depository Agent (DA).

We understand that there may be customers who have existing holdings within their CDP account and are interested to enjoy the competitive commission rates that we have on FSMOne.com. This led us to introduce the “Sell from CDP” feature, where investors could link their existing CDP account to their FSM Account, and subsequently sell their stocks/ETFs custodised in their CDP account with FSMOne.com.

As compared to transferring their CDP holdings to another platform in order to sell them at lower costs, we believe our “Sell from CDP” feature will be able to help investors minimize the risks of transfers, which may be exacerbated during volatile market conditions, as investors will not be able to access any holdings during the transferring process which may take weeks to complete.

Before the implementation of e-linkage, customers will have to first download a CDP linkage hardcopy form before they can fill in their personal details, sign the forms, and snail mail the physical form over for us to process the linkage application and to forward to CDP for their approval.

This entire process can around 1 week or longer, depending on the volume of applications received, and some applications may also be rejected due to discrepancies in either signatures or personal information, which would lead to further delays and resulting in missed selling opportunities.

With the newly added CDP e-Linkage feature, you are now just three steps away from linking your CDP Securities Account to your FSMOne Investment Account!

Without having to submit any physical forms, investors would be able to complete the entire process online by following the next three steps to link their CDP account to FSMOne.com:    

Step 1:

Login to your FSMOne account and proceed to the CDP Account Linkage page; alternatively, click on ACCOUNT SETTINGS > Activated Products > Sell from CDP > Your Linked Account (For Personal Account Only) to access the CDP Account Linkage page.

Step 2:

On the following page, in the “Apply and Link your existing SGX CDP Account with FSMOne” section, key in your “CDP Securities Account No.”, carefully read the declaration and check the box, and click “Submit for Linkage”.

Step 3:

Await approval of CDP linkage – it will take around 1 business day for the linkage to be approved by CDP. An email will be sent to inform investors of the linkage outcome.

Important Notes:

1.       Following the implementation of the CDP e-Linkage feature, manual submission of CDP Account Linkage Form via mail and email will no longer be accepted.

2.       Customers can only link their CDP Personal Account to their FSMOne Personal Account, and/or their CDP Corporate Account to their FSMOne Corporate Account. Linking of other account types (e.g. Joint, Beneficiary) are not accepted.

E-Submit Your W-8BEN Form!

W-8BEN declaration is a pre-requisite for investors who are looking to invest in US stocks/ETFs, and before the addition of e-submission, customers will have to download the W-8BEN form from our website, fill-in their details and mail/email the form to us for processing. Trading of US stocks/ETFs can only commence if the W-8BEN form has been duly submitted and approved.

FSMOne customers are now able to declare and submit their W-8BEN application online to activate US trading service by following the following steps:

After logging in to your account, click on ACCOUNT SETTINGS > Activated Products > W-8BEN Declaration (U.S. Trading Service). In the subsequent page, ensure that the pre-filled personal information are correct before submitting the W-8BEN form electronically.

New Enhancements on FSM Mobile!

-          Customise your Watchlist the way you want it – Have a favourite stock/ETF/UT/bond that you wish to follow closely before making your investment decision? You can now press and drag the product to the top of your Watchlist, or rearrange the sequence of the other products in your Watchlist to your liking.

-          Dedicated Regular Savings Plan (RSP) page for you to access our RSP tools (RSP Calculator and RSP Special List) conveniently on the first page of our FSM Mobile App. Key in a monthly investment amount in the RSP Calculator to see your estimated returns over your selected holding period based on different rate of returns, or find out which are the unit trusts in our RSP Special List where no initial minimum investment amount is required.

-          New “Purchasing Power” option in the TRADE tab under the Stocks and ETFs dropdown list. Tap into this to view the current purchasing power that you have which you are able to utilise for your next stocks / ETFs trade. For more information on Purchasing Power, please refer here.