facebookIs Philip Capital (POEMS) a good broker for a starting investor? - Seedly

Presley Soh

Trader at Octafx

19 Feb 2020

General Investing

Is Philip Capital (POEMS) a good broker for a starting investor?

I am 20 years old and I am a beginner in stock investment. What would be the best brokerages for me to start my investing journey with?

Discussion (3)

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First of all: I like Phillip Capital's POEMS brokerage platform very, very much.

When You compare different brokerages, You have to integrate a lot of stuff (for me in that order):

-ease of opening an account

-commission fees

-other fees ('account maintenance', transfers, currency exchange)

-markets covered

-support with problems

-education (seminars, teachings online)

-etc. ...

For POEMS:

Opening an account is very easy.

With a prepaid account the fees are O.K. (like in U.S. one can expect the

commission fees to drop - maybe to zero - in the future.

Would be nicer if there would be no account maintenance and foreign shares custody fees.

The staff was super supportive (phone, email).

I see myself not as a beginner, so maybe not in need of education.

I like also their Market Journal, interesting articles:https://www.poems.com.sg/market-journal/

f.ex. this one: https://www.poems.com.sg/market-journal/rise-of...

bye, good luck

Frankie​​​

View 1 replies

Bad experiences with philip.

as a beginner, i wanted to educate myself by attending seminars and have someone to ask questions. but the seminars are usually some sales pitch for a magic formula trading course.
and the brokers could not be bothered with me.

had much lesser issues when i use 2 big local banks in house brokerages. am still using these two brokerages.

but, if you ultimately want only one single platform to access all your shares, unit trusts, insurances, i guess philip is an option you might consider.

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