Posts: 89
Threads: 1
Joined: Nov 2012
Reputation:
6
My guess is that iFAST may offer trade rebate similar to DBS Vickers cash upfront and match their commission rate.
https://www.dbs.com.sg/vickers/en/accoun...nt-account
DBS Vickers Cash Upfront Account allows you to enjoy preferential commission rate of 0.12%, minimum SGD10 when you trade via DBS/POSB iBanking for all Singapore trades. What’s more, from 1 February till 30 June 2017, get SGD5 rebate for every trade you execute online.
To benefit from the rebate and commission rate, one can consider entering daily trade per counter in size of S$8334.
Posts: 1,348
Threads: 42
Joined: Mar 2011
Reputation:
87
(10-06-2017, 03:48 PM)TTTI Wrote: (09-06-2017, 10:51 PM)karlmarx Wrote: Free trading but pay a yearly platform fee? Shares held in their nominee account?
no platform fees for equities, only for unit trusts.
Why not? Single annual fee, unlimited trades. Wouldn't that be revolutionary?
Posts: 1,348
Threads: 42
Joined: Mar 2011
Reputation:
87
(10-06-2017, 05:48 PM)weii Wrote: My guess is that iFAST may offer trade rebate similar to DBS Vickers cash upfront and match their commission rate.
https://www.dbs.com.sg/vickers/en/accoun...nt-account
DBS Vickers Cash Upfront Account allows you to enjoy preferential commission rate of 0.12%, minimum SGD10 when you trade via DBS/POSB iBanking for all Singapore trades. What’s more, from 1 February till 30 June 2017, get SGD5 rebate for every trade you execute online.
To benefit from the rebate and commission rate, one can consider entering daily trade per counter in size of S$8334.
Although commission is low, I dislike the cash upfront account as there are limits to:
1) my trading limit
2) order types (e.g. no GTD orders)
Posts: 3,176
Threads: 630
Joined: Sep 2010
Reputation:
26
FSMOne’s Launch of SGX Stockbroking Service: Unique Business Model Enables Positive Disruption for Investor Community
* iFAST Financial Pte Ltd (iFAST Singapore), the Singapore subsidiary of iFAST Corporation Ltd., is launching its stock dealing service in SGX-listed stocks and ETFs on FSMOne
* Investor community can now trade in SGX-listed stocks and ETFs at competitive fees of 0.12% and 0.08% respectively (subject to minimum of S$10 per trade) on FSMOne ( www.fsmone.com)
* iFAST Singapore shared three main reasons why its unique business model enables positive disruption with the introduction of the stockbroking and other new services at competitive pricing.
More details in http://infopub.sgx.com/FileOpen/Pressrel...eID=458824
Specuvestor: Asset - Business - Structure.
Posts: 89
Threads: 1
Joined: Nov 2012
Reputation:
6
(23-06-2017, 05:23 PM)cyclone Wrote: FSMOne’s Launch of SGX Stockbroking Service: Unique Business Model Enables Positive Disruption for Investor Community
* iFAST Financial Pte Ltd (iFAST Singapore), the Singapore subsidiary of iFAST Corporation Ltd., is launching its stock dealing service in SGX-listed stocks and ETFs on FSMOne
* Investor community can now trade in SGX-listed stocks and ETFs at competitive fees of 0.12% and 0.08% respectively (subject to minimum of S$10 per trade) on FSMOne (www.fsmone.com)
* iFAST Singapore shared three main reasons why its unique business model enables positive disruption with the introduction of the stockbroking and other new services at competitive pricing.
More details in http://infopub.sgx.com/FileOpen/Pressrel...eID=458824
Stanchart priority banking customers (with AUM of at least $200,000) currently enjoy trading in SGX-listed stocks at commission charges of 0.18% with no minimum commission per trade. There is no service charge for right issues for shares held under Stanchart custodian, in comparison there is a service charge of $2 for applying for right issues under CDP account. It also seems easier to get additional right shares when applying through Stanchart. Stanchart priority banking customers get invited to Market Outlook Seminars in place like Mandarin Orchard with free dinner.
Due to the minimum of S$10 per trade for IFAST, one must trade at least $5600 to have an effective commission charge lower than 0.18% which is what is currently charged for Stanchart priority banking customers.
Posts: 71
Threads: 1
Joined: Feb 2013
Reputation:
4
Thanks for the info on StanChart.
Personally, I would prefer the 0.12% brokerage with a minimum of $10 vs 0.18% with no minimum brokerage. Most of my trades are about $10k so the minimum brokerage does not make any difference.
Have you attended any of the Market Outlook seminars? Are they useful?
Sent from my iPad using Tapatalk
Posts: 89
Threads: 1
Joined: Nov 2012
Reputation:
6
Hi vingaard,
The speakers for Market Outlook seminar are knowledgeable. It is more macro in nature, touching on oil prices, inflation, currencies etc. One of the speaker is from Fidelity, it will be very useful to approach him after the seminar to further understand how Fidelity picks stocks such as Nasper.
Posts: 43
Threads: 0
Joined: Aug 2014
Reputation:
2
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.
Posts: 1,348
Threads: 42
Joined: Mar 2011
Reputation:
87
For the small difference/savings in trading cost, I don't find the increased risk acceptable. Unless one is a has a high number of transactions, then perhaps the savings are substantial. This could be attractive to the day trader.
But for a low turn-over and long holding period strategy, I don't find the risk/benefit appealing:
1) Shares held by the broker custodian increases the counter-party risk.
2) I also don't like the size of my orders being limited to the amount of cash in my trading account. This forces me to keep my cash in the trading account just to place orders. Good for the broker, but more counter-party risk for me.
3) I am unable to place long-dated orders; very troublesome if you have to key your orders everyday, for a few counters. But this is only for my broker. Maybe iFAST or SCB can do long-dated orders.
Looking at the securities brokerage industry, this move by iFAST will slowly lead to lower profits margins for all, and maybe consolidation among the weaker houses. Will trading volume increase now that prices will be cheaper? I don't think it is likely to be significant. Trading costs are not expensive to begin with.
Posts: 2,808
Threads: 170
Joined: Sep 2010
Reputation:
1
(27-06-2017, 07:02 PM)karlmarx Wrote: For the small difference/savings in trading cost, I don't find the increased risk acceptable. Unless one is a has a high number of transactions, then perhaps the savings are substantial. This could be attractive to the day trader.
But for a low turn-over and long holding period strategy, I don't find the risk/benefit appealing:
1) Shares held by the broker custodian increases the counter-party risk.
2) I also don't like the size of my orders being limited to the amount of cash in my trading account. This forces me to keep my cash in the trading account just to place orders. Good for the broker, but more counter-party risk for me.
3) I am unable to place long-dated orders; very troublesome if you have to key your orders everyday, for a few counters. But this is only for my broker. Maybe iFAST or SCB can do long-dated orders.
Looking at the securities brokerage industry, this move by iFAST will slowly lead to lower profits margins for all, and maybe consolidation among the weaker houses. Will trading volume increase now that prices will be cheaper? I don't think it is likely to be significant. Trading costs are not expensive to begin with. the shares are kept with cdp..otherwise why they bother to apply to be cdp member. Counterparty risk is pretty low. Just my two cents.
|
Homepage
PR Newswire
