iFast's web platform offers cheaper commissions on stocks

Investing in SGX stocks will be at a low commission rate of 0.12%.

Mainboard-lister iFast Corporation unveiled a web portal for investors to invest and trade Singapore and Hong Kong tocks at lower commission rates. It was launched on iFast's Business-to-Consumer platform, Fundsupermart.com.

According to the group, FSMOne allows investors to invest seamlessly and in a transparent way, in multiple investment products including funds, bonds and insurance products, as well as new investment products and services including robo-advisory portfolios known as FSM MAPS (My Assisted Portfolio Solution), stocks and Exchange Traded Funds (ETFs).

According to iFast Corp chairman Lim Chung Chun, the platform has reduced its sales charge on all funds or unit trusts to 0% permanently to further aid investors in achieving investment goals.

"Our new permanent sales charge of 0% on all funds is an important step for all investors to save and invest globally and profitably for their goals," Lim noted.

With the roll out of FSMOne account, investors will be able to invest in stocks and ETFS listed on both SGX and HKEX at low commission rates of 0.12% for stocks and 0.08% for ETFs. The minimum charges are only at $10 for SGX stocks and HK$50 for HKEX stocks.

“In Singapore, stocks are a big part of many investors’ portfolios. With our stocks and ETFs offerings, we aim to make the service competitive for investors,” Lim said.

More so, FSMOne enables immediate execution on selected bonds with the revamped FSM Bond Express platform. Accredited investors can now invest with a much smaller investment amount of S$5,000. FSMOne offers over 500 bonds to investors, including retail and wholesale bonds. Price information is often lacking when investors research on bonds. With FSM Bond Express, investors can invest instantly in a select list of wholesale and retail bonds.