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Anonymous
Is it worth to invest via POEMS Share Builders Plan or is there a better platform?
For a newbie to invest (assuming it is CLR or OVQ in SBP), is it worth to go through SBP to DCA monthly?
If I am investing $200/month ($100 for CLR and $100 for OVQ), the monthly charges by SBP would be SGD$ 6 + 7% GST. Is there any other charges besides the indicated?
Is there a better way to save up on the costs? OCBC BCIP isn't cheaper either for those already 30 years old and above.
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Elijah Lee
05 Aug 2019
Senior Financial Services Manager at Phillip Securities (Jurong East)
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Jonathan Chia Guangrong
05 Aug 2019
SOC at Local FI
They charge for dividend handling and corporate actions. No go for me. The handling fees are also higher than compared to the now defunct maybank ke MIP.
As an alternative, consider the robo advisories instead.
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At $200/mth, the transactional costs are just too high. There will be better options even if you want to invest monthly, and you can still get shares, just save up and wait for a good price. I'm with Phillip, and I don't recommend SBP in your situation as you can do DCA in other ways on the POEMS platform.