Ha Lai Wah

04 Jun 2019

∙

General Investing

Is Phillips Securities (POEMS) stock trading account a CDP or Custodian based?

I've been doing a bit of research into Philips Securities (POEMS). After my research, i'm a bit confused as to whether they're CDP or custodian based. Anyone got any clue about this?

POEMS by PhillipCapital

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Guo Hao Teo

04 Jun 2019

Self-Taught Enthusiast at Personal Finance

I have the custodian based one. Works the same way in my opinion.

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Gabriel Tham

02 Jun 2019

Tag Team Member at Kenichi Tag Team

They have both types. You can apply for POEMs with CDP linkage or apply for their POEMs custodian account.

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Should I create a CDP account if I already have a Stanchart custodian account? Is there any charges or minimum trades a month for the CDP to keep it? Also, when should I sell off an ETF?

If you need a CDP account to trade and hold SGx’s stocks in SG Market. then what do you call an accounted created with POEMS2.0, do I still hold the stocks at the end of the day after buying it?

When investing in local stocks, should you be using platform with CDP accounts or those with custodian accounts like tiger brokers?

If i open a new account with either IBKR or Tiger, may I know if this new account can use to sell my SGX shares held in my name in CDP and my USD stocks bought via Phillips Cash Management acct?

In my CDP account, what does settlement date means? Does it means the day the stock I traded is officially under my name?