iFAST

[karlmarx]

I'm not sure whether the shares are kept under our name in CDP, or under iFAST's CDP account. My assumption is that people who buy shares through iFAST have their shares 'comingled' with other customers of iFAST; all their shares are held under iFAST's CDP account. iFAST then has the responsibility to keep proper and segregated accounts of each of its customer's shareholdings, because CDP doesn't know to whom those shares belong to, right? Please correct me if I am wrong.

As for cash, I believe they should be held in a trust account, where again iFAST has the responsibility to keep proper and segregated accounts of each of its customer's cash holdings, right? If iFAST goes belly up, it could take some time before the judicial managers sort out the mess and return customer's monies. That is if the monies isn't already misappropriated for other purposes like trading loses. But of course, I don't think iFAST trades its own account so the risk of this happening is low. Please correct me if I am wrong.

[pianist]

I'm not sure whether the shares are kept under our name in CDP, or under iFAST's CDP account. My assumption is that people who buy shares through iFAST have their shares 'comingled' with other customers of iFAST; all their shares are held under iFAST's CDP account. iFAST then has the responsibility to keep proper and segregated accounts of each of its customer's shareholdings, because CDP doesn't know to whom those shares belong to, right? Please correct me if I am wrong.

As for cash, I believe they should be held in a trust account, where again iFAST has the responsibility to keep proper and segregated accounts of each of its customer's cash holdings, right? If iFAST goes belly up, it could take some time before the judicial managers sort out the mess and return customer's monies. That is if the monies isn't already misappropriated for other purposes like trading loses. But of course, I don't think iFAST trades its own account so the risk of this happening is low. Please correct me if I am wrong.

checked. U r rite the shares are kept by ifast as nominee.

[Temperament]

I'm not sure whether the shares are kept under our name in CDP, or under iFAST's CDP account. My assumption is that people who buy shares through iFAST have their shares 'comingled' with other customers of iFAST; all their shares are held under iFAST's CDP account. iFAST then has the responsibility to keep proper and segregated accounts of each of its customer's shareholdings, because CDP doesn't know to whom those shares belong to, right? Please correct me if I am wrong.

As for cash, I believe they should be held in a trust account, where again iFAST has the responsibility to keep proper and segregated accounts of each of its customer's cash holdings, right? If iFAST goes belly up, it could take some time before the judicial managers sort out the mess and return customer's monies. That is if the monies isn't already misappropriated for other purposes like trading loses. But of course, I don't think iFAST trades its own account so the risk of this happening is low. Please correct me if I am wrong.

checked. U r rite the shares are kept by ifast as nominee.

For me, i like to keep in CDP, just in case the 2008/2009 happens again.

i think only DBS cash up front let you do so.

Actually i read even in CDP, your broker can fake a buy or sell order.

That's why CDP will email or SMS you whenever there is a trade.

So far never heard a case happens in Singapore.

[weii]

StanChart's (SCB) big plus is low cost (once cross 200K) which allows slow accumulation of stocks.  4 downsides though:
1. Nominee account
2. Can't handle warrants
3. During dividend reinvestment there is only 2 options, all cash or all share.  Unlike CDP, they can't handle partial cash, partial stocks
4. No live quotes!

Won't be surprised if iFast remove the $10 minimum or reduce it to $5 per trade in future. Will be interesting to watch when that happens.  After all iFast is fintech and a disruptor.

Hi choya,

If you happen to hold a company under Stanchart custodian which subsequently issues warrants, Stanchart allows you to subscribe for the warrants including additional warrants. However, you cannot buy warrants in the open market through Stanchart platform.

I have Starburst mother shares under Stanchart and subscribed for additional Starburst warrants. I managed to get additional Starburst warrants and I had converted them to Starburst mother shares.

[choya]

Maybank Kim Eng latest salvo to counter iFast. 5 free trades if open the account by end Oct 2017. Attractive pricing (0.12% till end Dec). $10 minimum trade. Also via nominee account. Hence I'm giving this a miss for now.
http://maybank-ke.com.sg/latest-offering...ion-rates/

Do verify with them if you are interested.

Lim & Tan has something similar I think, under SGX CASH COLLATERALISED TRADING. Though I did not check with them for details.

Now watching how iFast responds and if their business model still works.

[choya]

Thanks weii.
I think we can participate in corporate actions per normal though any subsequent actions on our own with respect to warrants are limited.

[cyclone]

iFAST trading platform FSMOne.com offers limited-time $10 flat fee to local investors

By: Michelle Zhu
16/04/18, 11:55 am

SINGAPORE (Apr 16): iFAST Corp’s FSMOne.com, is offering a $10 flat fee to all investors trading SGX-listed stocks and exchange-traded funds (ETFs) on its platform, from Monday till May 31.

The flat fee excludes Central Depository (CDP) clearing fees and SGX trading fees, and does not include prevailing GST charges.

For non-SGD transactions on SGX-listed stocks and ETFs, the following minimum charges will apply: USD 10, AUD 10, EUR 10, GBP 10, CNY 50, HKD 50, JPY 800.

More details in https://www.theedgesingapore.com/ifast-t...-investors

[pianist]

Not so tantalising for small player like me plus the sg listed shares are still kept with ifast as custodian.

[chialc88]

那女孩早熟像一朵玫瑰
她从不依赖谁
一早就体会 爱的吊诡和尖锐 
她承认后悔
绝口不提伤悲



• The Group’s revenue and profitability continued to improve in 9M2018 as a
result of the progress made in our overall business, with net revenue increasing 24.0% YoY
to S$44.80 million and net profit rising 40.4% YoY to S$8.29 million; 
• The Group’s net cash generated from operating activities stood at S$14.01 million in
9M2018, higher than S$13.22 million in the whole of 2017. 
• In recent times, the sources of the Group’s net revenue have broadened. 
• In recent months, the Group has taken steps to work towards a structure whereby in the
medium to long term, our Hong Kong and China businesses could be organised as a
separate standalone listed subsidiary. We expect these efforts, when materialised, to
strengthen the overall capital base of the Group to further support the Group to continue
growing as a leading Wealth Management Fintech Platform in Asia
• We applied for a Virtual Banking licence in Hong Kong. If successful, this
will further improve the ability of the Group to continue growing as a leading Wealth Management
Fintech Platform in Asia. 
• The Directors have proposed a third interim dividend of 0.75 cents per ordinary dividend.
link

Name of dividend Interim
Dividend type Cash
Dividend rate 0.75 cents per ordinary share 
Closed/XD 8 November 2018
Paid on   20 November 2018
link

[chialc88]

20190427 Q1 Result iFAST
(Link to ppt)

Mixed results but to me not very good.
(Link to Q1 Result)

Dividend still the same @ 0.0075 xd@7/5/2019 pay on:22/5/2019
(Link to div)

Take a peak at iFAST investment advisor 理财顾问