facebookBrokerage accounts: Interactive brokerage VS POEMS Which is better? - Seedly

Anonymous

27 Mar 2020

General Investing

Brokerage accounts: Interactive brokerage VS POEMS Which is better?

For a beginner investor, looking to invest in China and also locally in Singapore like in Reits

Discussion (2)

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Zachary Teo

27 Mar 2020

Art Director at Ad Agency

I would say POEMS. I am using IB for US stocks because of their recency and lower transaction rate. Their forex is pretty good too for SGD to USD. If I am not wrong, you cannot trade Singapore stocks on IB since 2018. (Need more information about this)

I like POEMS, would be nicer if they would skip completely the quarterly account maintainence fees and the separate fees for holding foreign stocks. However: the higher your accumulated assets are, the less important these small absolute fees become. Also in their 'prepaid account' the small % commission fees are O.K.

I guess with some delay there will in the future also in Singapore be the trend for zero commission fees. As said, these fees are already now tolerable and irrelevant from a pragmatic perspective.

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