Great Savings on Trading Fees by Using FSMOne for Shares in CDP and CPFIS Accounts

A check on StocksCafe shows that I made a total of 17 transactions this year in the Singapore market.

Since a few years ago, I have switched to FSMOne to buy and sell my shares if I am investing with my CPF. I also linked my CDP account so that I can sell my shares that reside in there using FSMOne.

The savings is great as it is at least 50% cheaper than the previous brokerage that I used! In absolute value, savings is about $15 per transaction. So a total of $250 saved which is a year of Netflix’s subscription.

The only thing that is not possible yet is to use FSMOne to buy shares and have it deposited in CDP account directly.

Thanks to the sharing by @Happily and @Egg_Farmer from InvestingNote, I learnt a way around this. That is to buy shares with FSMOne and transfer it to CDP Account after that.

Guess what?

FSMOne is not charging any transfer fees! At least, not yet.

I have not try out the transfer yet, as I could not locate the transfer form. But I finally found it yesterday after the prompt response by their customer service.

The first two stocks that I am transferring out will be my recent purchase of Mapletree Logistics Trust and Mapletree Pan Asia Commercial Trust.

Going forward, this will be my modus operandi.

If you are going to open a FSMOne account, my referral code is P0003528.