Disclaimer

This content is published and provided for informational and entertainment purposes only. Views expressed are my own only, subject to change without notice and do not constitute investment advice.

Latest update: 2020/06/14

Background

During Q2 2020, I started a benchmark of the various investment platforms I can access in Singapore with the goal of ultimately selecting the 2 to 3 final contenders to go long term with.
I will be putting a minimum investment (within S$1k-3k) onto each platform, and compare both user experience and returns over the course of a year.

This page is Singapore platforms only. Both experience and information I have been able to put together clearly show Singapore is the best place where to put your savings when living abroad.

Top goals and priorities

1. Long-term capital appreciation, with FIRE down the line
   Saving for the second half of my life. I can have the capital locked-down for the next 20 years if need be; as long as ultimately, it grows.
2. Hands-off, result-oriented approach
   I do have an interest in economics and finance. But I don’t want to make financial planning my hobby. Besides, my ultimate goal here is to see this capital appreciate; not get an adrenaline rush from it. And as I recognize there are people out there with vastly more resources, smarts and dedication to get that job done, better leave it them and have one less thing to worry about (or sort of).
3. Stability
   Change of regulations, political instability, inflation, taxation, systemic risks, and so on. All the more factors that year after year, munch on your returns. Lesser returns year on year means compounding castration, and leads to an exponential loss in appreciation. The money needs to be in a jurisdiction that is as much as possible insulated from all that.

User Experience

FSM MAPS

https://secure.fundsupermart.com/fsm/maps/info/introduction

TLDR: My personal favorite so far. Great research (free). Inspires confidence and professionalism. Very diversified. Good returns to date.
Makes most start-ups and robo services with similar fee levels look like amateurs.

Red tape

• More than some, but pragmatic
• They deliver on their own deadlines
• You will need to submit a proof of address, and you will receive access codes at that address, through the post. Takes one week.
• Overall experience: 4/5

Pros

• Inspires confidence and professionalism
• Low fees
• MAPS portfolios are fully hands-off
• Highly diversified
• You have a transparent and complete picture of your holdings from the Account panel
• The fund manager publishes quarterly reports and yearly outlook reports to support their decisions
• Monthly e-statements are sent to report on the transactions made on your behalf
• Nearly instant fund transfer and availability from a SG bank account
• Lump-sum or RSP (Regular Savings Plan) investments (translating into a dollar cost averaging)

Cons

• If self investing outside MAPS, there are much more advanced platforms out there (SaxoTraderGo in particular)
• Platform / Account panel can feel a bit like a labyrinth
• Custodian (but so are most other products)

Syfe

https://www.syfe.com

TLDR: Young but worth giving a try! Unique products and features, good platform, and the red tape is a walk in the park. Robo seems active and not just there to collect fees. I like to see a company that aspires to try things differently and not just carbon copy existing services.

Red tape

• Proof of address
• Funds can be sent almost immediately.
• 24h to received the funds
• 48h to allocate funds once received
• Overall experience: 5/5 (best in class)

Pros

• Simple, ergonomic platform
• Didactic: live report of fees paid to date on a given portfolio, live report of your current downside risk
• REITs portfolio or Equity portfolio
• Algorithm supposed to mitigate market downturns (called ARI)
  Sounds nice but might not be flawless; I recommend reading this blog article that goes deeper into guessing what might be under the hood: Financial Horse Syfe REIT review
• Regular blog updates. For instance: https://www.syfe.com/magazine/volatility-did-not-disappear-with-the-rally-why-markets-will-remain-rocky-in-the-months-ahead

Cons

• Young platform (Feb. 2020)
• Some claim ARI might have you sell low and re-buy high in situations of high volatility
• ARI and rebalancing can very much steer you away from your original portfolio composition
  

Kristal.ai

https://kristal.ai

TLDR: Well-tried but I’ll pass. There’s a good intention there and interesting possibilities. Yet none of the shortcomings are worth the benefits and I see some essential features missing.

Red tape

• Proof of address: ID/bank statement/utility bill
• Email or WhatsApp them a video of yourself holding your passport
• The overall process (registration, fund transfers) just feels… slow!
• Overall experience: 3/5

Pros

• Low costs
• Communication possible via WhatsApp. The team is quick to respond.
• Funds held in Singapore

Cons

• Took them an entire week and several follow-ups to open my account - where they announced 1 working day initially.
• Higher buy-in on the most interesting portfolios (1500 to 10k USD)
• No active management / proper robo function. Portfolios are mostly a curation of 5-8 ETFs
• Analysis and factsheets are not updated regularly (dated November 2019 as or June 2020; no change since Covid?!)
• Impossible to set a stop loss: deal-breaker!

Upcoming

More platforms reviews

• DBS Digiportfolio
• SaxoTraderGo
• Autowealth
• Endowus
• Stashaway
• Squirrelsave
• OCBC Roboinvest

Quarter returns