Opening a Stock Trading Account in Singapore with Fundsupermart
Ever since my current stock broking agent prevented (‘protected” from their point of view) me from buying a an unusually fast-rising stock, I have been looking for a new trading platform.
Then via word of mouth (through a friend of a son of a colleague of my wife), I was introduced to iFast SG… That led me to FundSuperMart.
iFast vs FundSuperMart
With IFAST you can only open an account with a registered financial planner or banker. … From what I understand, they are virtually the same, just that one requires the intervention of a financial planner or banker…
https://forums.hardwarezone.com.sg/money-mind-210/ifast-funsupermart-5375247.html
So I opened and account with FundSuperMart.
It’s so easy and instant. No documents required.
- I just linked my SingPass account and it grabbed all my personal data.
- Next, I filled in some extra details like income and current occupation.
- Finally, create an ID with a password for login.
All that in less than 10 minutes.
My next step is to transfer some funds over.
That’s the main difference compared with my current platform, that require me to link to my bank account.
No funds, no trade. That’s a fair deal.
And I earn interest if the money is not in the markets. They call it the Auto Sweep.
Is it really that wonderful?
I will report my experience in a future blog post.
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