POEMS vs DBS Vickers for first timers? - Seedly
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Anonymous

Asked on 04 Apr 2020

POEMS vs DBS Vickers for first timers?

Created a CDP acc and i'm not sure which trading platform i should go with?

heard DBS Vickers has bad customer service and the platform is terrible to use. also i do not have a DBS multiplier acc.

heard POEMs has good and updated interface but may not be applicable for first timers as there are lots of functions

or should use a completely different platfrom?

i'm planning to invest monthly starting from $100 for now as i'm still serving NS.

in a dilemma here. any help will be appreciated.

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Khairudin Ali
Level 4. Prodigy
Answered on 04 Apr 2020

DBS is recommended for SGX markets as they offer cheap fees if you opt for cash upfront for your trades, max $11.26 SGD for fees incld GST. US trade fees and custodians fees offers the same amount or both brokerages. DBS multiplier account will be given to you when you open Vickers, so no need to worry.

No doubt POEMS interface is wayyy better than vickers. Customer service wise I am not sure. No problem with both of my brokerage accounts. Just don't ask generic questions which you can google yourself.

$100/month wouldn't be advisable to do your own trades as the cheapest fees will eat up your monthly investment sum. I would recommend DCA on robo advisors. Do shop online for some.

Do search for seedly review about SG brokerage accounts. Check their fees before committing.

Hope it helps.

2 comments

ūüĎć 1
Question Poster

05 Apr 2020

Thank you so much for helping. what would you recommend to be the minimum amount to invest in? i will look into robo advisors.
Andrew Goh
Andrew Goh

05 Apr 2020

If you open POEMS acc, you can buy unit trust. There is a saving plan where you can buy monthly without any charges.