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Micro Investment Apps

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YoungAndBroke
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Micro Investment Apps

Postby YoungAndBroke » Sun, 04 Dec 2016 4:48 pm

Hi,

Was wondering if there are any micro investment apps for Singapore region.

Did a quick google search and saw a few available but only for North America/Europe.
Essentially these are apps that accept pocket change investments and hold them in primarily ETFs (exchange traded funds).

Best I found was a Hong Kong based app that looks to be still in development.

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sundaymorningstaple
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Re: Micro Investment Apps

Postby sundaymorningstaple » Sun, 04 Dec 2016 7:57 pm

tic...toc...tic...toc...

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YoungAndBroke
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Re: Micro Investment Apps

Postby YoungAndBroke » Sun, 04 Dec 2016 11:37 pm

Are you implying something here? I've actually edited my previous post to avoid any possible confusion that I am here to advertise.

Genuinely wondering about this fairly new concept of mobile micro investment. Seems all I find is available only in America. ](*,)

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x9200
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Re: Micro Investment Apps

Postby x9200 » Mon, 05 Dec 2016 7:17 am

Yes, he is implying based on our rather extensive experience. Nothing personal. I can testify the OP edited it - I removed the OP's first post exactly for the reason of containing references to some specific applications.

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Strong Eagle
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Re: Micro Investment Apps

Postby Strong Eagle » Mon, 05 Dec 2016 9:27 am

My question is: Why not put the pocket change in a jar, fill it up, then invest a few bucks?

YoungAndBroke
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Re: Micro Investment Apps

Postby YoungAndBroke » Mon, 05 Dec 2016 8:20 pm

Unfortunately, seeing a jar fill up with loose change will only entice my urges to run along to the vending machine downstairs far more often than I should. Plus my wife would just smack me silly and find some way to stuff it into her wallet.

Plus the idea of having a penny portfolio sounds like a fun way to watch grass grow.

In all seriousness though, the apps that I did some research on typically have a favourable fee structure and let you invest anywhere from pennies to thousands of dollars. I think its a great way for young people to get their feet wet. Seems simple too from what I saw on apps like...kidding :)

I know its probably a long shot to find, as I get the feeling that Asia in general is still quite behind in the "app entrepreneur" domain.

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Re: Micro Investment Apps

Postby taxico » Mon, 12 Dec 2016 10:29 pm

i think the MAS licensing requirements would be too onerous for a "singapore start-up"... and i think similarly limiting for a start up...
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DrScrumMaster
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Re: Micro Investment Apps

Postby DrScrumMaster » Tue, 13 Dec 2016 8:07 pm

taxico wrote:i think the MAS licensing requirements would be too onerous for a "singapore start-up"... and i think similarly limiting for a start up...


Not necessarily. Singapore is pushing itself as a fintech-friendly startup hub.

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Re: Micro Investment Apps

Postby taxico » Sat, 31 Dec 2016 10:55 pm

i was involved with starting a company based in singapore that deals with investments... we were a registered FMC a few years ago. it's now based elsewhere - for geographical, tax and other strategic reasons.

in singapore, as we dealt only with private investors and non-traditional assets, getting the necessary base capital of $250k was easy based on trust alone. how will a micro-finance start-up find 250k lying around from day 1 of registration? (it's possible, but usually not when you're small potatoes).

and then there are insurance, risk management, custodial, audit, oversight and a whole host of other up-front/on-going costs... it is not something a one, two or three man part-time app developer/bedroom "investment guru" team can easily undertake without running some significant losses early in the "crowdfunding" game... (there are exceptions of course)

once you hit 50 investors, you'd need to be registered as an institutional or retail FMC... needless to say, expenditure, blood and sweat can only go up.

for lack of my want to comment further... i'd venture that singapore doesn't want "kachang putih" fintech startups. preferably only the unicorns.

i'd add some closing remarks:

from an investor's perspective, MAS has done a decent job of trying to ensure not too many singaporeans get taken for a ride.

when it comes to asians, they do not do something for nothing. it is thus probably far easier to line one's pockets as a registered charity in singapore (champion for... cats/dogs/Gods/foreign workers/<insert your cause here>) and solicit for public funds than to manage funds legally and responsibly (and fully stressed).

edited for clarity.
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