Am I able to trade CFDs if i have a POEMS/FSMOne account? or do i have to look for a CFD provider specifically?

Hi anon,

Yes, you can trade CFD on POEMs (I can't speak for FSMOne), but you will need to be at least 21 years old, and pass the CKA assessment. There's no need to look for a specific CFD provider. CFD is an unlisted product.

If you do not meet any of the CKA (CFD) assessment criteria, you may sit for the online E-learning module (CFD) jointly developed by The Association of Banks in Singapore (ABS) and Securities Association of Singapore (SAS). The E-Learning portal defines the key features and risks of trading CFDs and allows retail investors to have a better understanding of the product before investing.

Upon taking and passing the assessments on the E-learning portal,

1) Download the certificate.

2) Attach the completed CKA Form.

3) Email to your trading representative or [email protected].

The link to the E learning module is here: https://sips.abs.org.sg/

Yes you can use POEMS. But you have to do a CAR assessment (it's a risk assessment). You need to pass before you can invest in CFD which are SIP (Specified Investment Products).

You can do a free e-learning on SGX website, print the completed course, submit it to your broker and you're good to trade CFD.