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I am using the cash management account (cdp) and I do not understand how the fees are charged.
Can I also know how where are the fees charged to? Thanks! I only trade in SGX markets btw
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Elijah Lee
28 Apr 2020
Senior Financial Services Manager at Phillip Securities (Jurong East)
Hi Dexter,
Your brokerage fees will be (a) 0.28% of the contract value or S$25 which ever is higher.
You will then need to add:
(b)Clearing Fees of 0.0325%
(c) SGX Trading Fee of 0.0075% on the gross contract amount
(d) SGX Settlement Instruction (SI) Fee of SGD0.35 per settlement.
Sum up (a) + (b) + (c) + (d) and then add 7% for GST. Those will be the total transactional costs.
You'll need to ensure you have monies in your account on settlement date (T+2). The system will then automatically deduct from the money in your Cash Management Account.
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Actually there is a calculator for you to see all the charges in Poem, if you login to pc or laptop.
Just need to key in the stock name, price and quantity.
I learn it from Poem YouTube video.