$CSOP USD Money Market Fund (SGXZ96797238.MF)$ Suddenly I s...
$CSOP USD Money Market Fund(SGXZ96797238.MF$ Suddenly I saw this in my account? May I know what is this ? I didn't buy it etc
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Will73 : Could check at Trade > Futu Universal Account > Funds Details. Or leave a message to customer service
Milk The Cow : U did buy it "if" u had activated smartsave...
If no, u need check with CS.
KWONG8888OP Milk The Cow: hi what is smart save ?
Milk The Cow KWONG8888OP: SmartSave is an system that auto help u invest in considering quite safe fund, daily.
back from ur fund if there is any deficit in ur trading account, eg. u bought some shares.
It will invest all ur money in ur trading account if there is any idling cash in ur trading account.
SmartSave monitor the deficit in ur trading account & auto redeem the required
SmartSave may only be beneficial for long-term investors but quite a disadvantage for margin traders / short-term investors.
Eg. the above fund is a MMF & is considered quite safe & u will earn interest daily.
However, I do notice smartsave is not that smart afterall. In fact, it can be quite dumb sometime.
Upon activated, u cannot fully deactivate it anymore.
However, u can pause it to stop it from auto invest.
But, auto redeem for any deficit in trading account cannot be stop anymore after smartsave is being activated.
loganyan Milk The Cow: Thanks for your advice, we have already provided the fuction of shutting down the auto redeem.You can manage it on this page below. But It would be great for you to keep this activated or you can not buy stocks while holding your MMF.
Milk The Cow loganyan: ty
Milk The Cow loganyan: By the way, can make GTC place order cash no lock in the trading account but lock in the MMF instead?
Because I had placed buy GTC orders but everytime I sold some stocks or any fresh cash deposited into the trading account, it's being locked in the trading account as idling funds for the GTC placed order...
It did not auto invest back into the MMF with smartsave as the funds are being locked up for the active buy GTC place orders...
Milk The Cow Milk The Cow: It's still within my control (I can fix it manuallly) but very troublesome... = something not very smart of smartsave auto feature...
CasualInvestor Milk The Cow: Totally agree that GTC should take MMF funds into consideration. Make smart save “smart”.
loganyan : Sorry for late reply，but actually we can not invest your money while your buy orders are still activated, the money needs to be prepared for the possible settlement.You can only invest the withdrawable money in your account.On the other hand,if you have already subscribed MMF via SmartSave，and then you place an order，we wouldn't redeem the fund until the order is filled.