You can use your cash account, Auto-Sweep Account or CPF-OA/SRS Investment Account to settle for your Stocks/ETFs transactions.

• For Cash Account, there are 12 cash account currencies available: SGD, USD, AUD, CAD, EUR, GBP, CNH, HKD, NZD, JPY, CHF and MYR.
• For Auto-Sweep Account, there is 3 currencies available: SGD, USD, and CNH. You are able to use SGD, USD and CNH Auto-Sweep Account to pay for any foreign currencies investments (except China A-shares cannot be used via SGD and USD Auto-Sweep) on our platform.
• CPF-OA/SRS payment option is only available for SGD denominated Stocks/ETFs.

We are unable to sell off your Stocks/ETFs holdings to pay off other fees or charges. These fees, where applicable, will be deducted from your Cash Solutions, Cash Fund or Unit Trusts holdings only.

If you are using Cash Account as your payment method, you have to pay the Stocks/ETFs order using the same currency cash account. i.e. USD denominated stocks have to paid from your USD cash account.

If you are using Auto-Sweep Account as your payment method, you can use it to pay for Stocks/ETFs (except China A-Shares cannot be used via SGD and USD Auto-Sweep) in any currency. Do note that the Auto-Sweep Account balance in foreign currency is displayed on order pad based on an indicative exchange rate. The actual FX conversion will take place after market trading hours and the exchange rate may differ from the indicative rate displayed at the point of transaction.

CPF/SRS trading is only acceptable for SGD denominated stocks listed in SGX.

You may use your Stocks/ETFs future proceeds (purchasing power) to fund for your next purchase as long as the proceeds currency and the Stocks/ETFs purchase are the same, except for Non-cash (CPF/SRS) and CDP sell order.

Do take note that CNH sell/redemption proceeds from non-China Stock Connect e.g. SGX and HKEX, are not allowed to purchase China A-Shares on the same day.
E.g. After selling your HKEX Stock denominated in CNH, you are not able to use the CNH sell/redemption proceeds to purchase China A-Shares on the same day.

For more information on the settlement date, please refer to Question No. 6. 

• For Stocks/ETFs sell orders (all Exchanges except China A-Shares), the proceeds will be credited into your respective product currency Cash account or Auto-sweep account within Transaction Date + 3 business days, after 530pm.
• For China A-Shares sell orders, the proceeds will be credited into your respective product currency Cash account or Auto-sweep account by Transaction Date + 1 business day, after 530pm.
• The proceeds from the sale of CDP securities account will be credited into your FSM Global Cash Account or Auto-sweep account by Transaction Date + 2 business days, after 530pm.

CPF/SRS
The proceeds will be credited to your respective Agent Bank Account after T+2 business days.

Your Stocks/ETFs proceeds in non-SGD currency will be credited into your Cash Account in the respective currency.

Your Available Balance only reflects settled cash that is currently available in your account.

Your Purchasing Power, on the other hand, may also include eligible unsettled sell proceeds from previous transactions that can be reused immediately for new BUY orders.

As FSM Global utilises settled Available Balance first when processing new purchases, clients who continue reinvesting using upcoming sell/redemption proceeds may notice that:

• Their Available Balance gradually reduces to S$0
• Their Purchasing Power remains available due to eligible unsettled proceeds pending settlement

This is part of FSM Global’s pre-funded trading model and allows investors to continue trading without waiting for settlement, subject to eligibility and product type.

Your Stocks/ETFs Purchasing Power includes the existing cash balance and proceeds from securities transactions that have not been settled into your cash account or Auto-Sweep Account, after deducting for buy proceeds from securities transactions that have yet to be settled. You will be able to use your entire Purchasing Power to make new BUY transactions immediately.

Stocks Purchasing Power
Available balance in all cash account currencies
LESS: Monies earmarked for trades pending settlement or orders placed or other fees and charges
ADD: Monies to be received from SELL trades for stocks and ETFs ONLY.
ADD: Monies to be received from Auto-Sweep Account (For Cash Account purchasing power ONLY)
ADD: Incoming deposit/transfer to Auto-Sweep Account (For Auto-Sweep purchasing power ONLY)

ETFs Purchasing Power
Available balance in all cash account currencies
LESS: Monies earmarked for trades pending settlement or orders placed or other fees and charges.
ADD: Monies to be received from SELL trades for stocks, ETFs, bonds, unit trusts.
ADD: Monies to be received from Auto-Sweep Account (For Cash Account purchasing power ONLY)
ADD: Incoming deposit/transfer to Auto-Sweep Account (For Auto-Sweep purchasing power ONLY)

Note: Exclusions apply. Sell trades made from your CDP Linked account will not be added into your Purchasing Power.

FSM Global operates on a pre-funded model. All utilisation for investments will first be deducted from the Available Balance before Purchasing Power.

Example
If you have:

• Available Balance: S$1,000
• Sold Stock ABC for S$500
• Bought Stock XYZ for S$300

FSM Global will first deduct the purchase amount from your Available Balance.

Calculation:

• Available Balance: S$1,000 − S$300 = S$700
• Purchasing Power: S$700 + S$500 unsettled sell proceeds = S$1,200

If you continue placing new BUY orders using the unsettled S$500 sell proceeds, your Available Balance may eventually become S$0, while your Purchasing Power continues to reflect the eligible unsettled proceeds available for trading.

For more illustrations on Purchasing Power, see Question 9 of the FAQ.

You are not able to combine the balances to place ONE trade. However, there are other options you can choose:

Option 1: Transfer between Cash Account and Auto-Sweep Account
By transferring your balance from Auto-Sweep Account to Cash Account, or vice versa, you will increase the ledger balance of the transferee account’s purchasing power. Once you have done the transfer, you will be able to place the trade using just ONE payment method by utilising your purchasing power.

To transfer between Cash Account and Auto-Sweep Account, simply login to your account and go to Cash > Transfer between Accounts.

Option 2: Place trades twice in Cash Account and Auto-Sweep Account
Alternatively, you can split up your trade and place one part using Cash Account and the other using Auto-Sweep Account, to buy the same stocks or ETF.

However, using Option 2 means that you will not enjoy trade amalgamation as amalgamation DOES NOT apply to different payment methods.