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Anonymous

07 Aug 2020

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General Investing

Buying Stocks on POEMS?

Hi, I am new in using POEMS. I have recently submitted an order on POEMS and the status of the order has changed is from "received" to "done".

So for the payment I just need to pay just the (price of the shares * the quantity)? There is no extra fee for buying? And once payment is done what will the status changed to?

Discussion (2)

What are your thoughts?

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There's always commission that you'll have to pay when you buy a stock. You're able to see what transational fees you'll paying at the brokerage's page.

For example, I'm using CIMB and I bought MYR 5000 worth of stocks. I'll get charged the FX fee, commissions, FFP, etc. Say we assume that the fees add up to $30 SGD, it'll get charged from my trust account with the brokerage. The order will still go through even if there isn't another $30 dollars in it, but I'll be required to top up the amount afterwards.

You should get a statement for the order you made with details on what you're paying for. Maybe it'll take a day to come through the email.

Baby Steps Finance

07 Aug 2020

Seedly Student Ambassador 2020 at Seedly

Quite cheap and good exposure to other country's exchanges. Especially the custodian account. Low rates for cash management account

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