achievable
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
iFAST
27-06-2017, 09:11 PM.
Post: #41
RE: iFAST
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.

Find Reply
28-06-2017, 09:50 PM.
Post: #42
RE: iFAST
(27-06-2017, 09:11 PM)karlmarx Wrote: 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.

Find Reply
01-07-2017, 12:03 PM.
Post: #43
RE: iFAST
(28-06-2017, 09:50 PM)pianist Wrote:
(27-06-2017, 09:11 PM)karlmarx Wrote: 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.
WB:-

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.

Find Reply
02-07-2017, 07:07 AM.
Post: #44
RE: iFAST
(27-06-2017, 12:18 AM)choya Wrote: 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.

Find Reply
19-10-2017, 11:38 AM.
Post: #45
RE: iFAST
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.

Find Reply
19-10-2017, 11:46 AM. (This post was last modified: 19-10-2017, 11:46 AM by choya.)
Post: #46
RE: iFAST
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.

Find Reply
16-04-2018, 03:26 PM.
Post: #47
RE: iFAST
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
Specuvestor: Asset - Business - Structure.

http://www.valuebuddies.com
Website Find Reply
16-04-2018, 09:29 PM.
Post: #48
RE: iFAST
Not so tantalising for small player like me plus the sg listed shares are still kept with ifast as custodian.

Find Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)
Valuebuddies.com | Return to Top | Lite (Archive) Mode | RSS Syndication | CONTACT US: nas......@valuebuddies.com | | Share Buy-Back | Disclosure of Interest