PhillipCapital (POEMS) Reviews and Comparison - Seedly
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PhillipCapital (POEMS)

  • Overview
  • Reviews (140)
  • Questions (0)
  • More Details
Online Brokerages/PhillipCapital (POEMS)
Online Brokerages/PhillipCapital (POEMS)

USER RATINGS

Customer Support

4.3

User Experience

4.2

PhillipCapital (POEMS)

Market Spread
TRADING FEES
None
MINIMUM FEE
CDP
STOCK HOLDING TYPE

    PhillipCapital (POEMS)

    Market Spread
    TRADING FEES
    None
    MINIMUM FEE
    CDP
    STOCK HOLDING TYPE

Details

Phillip's Online Electronic Mart System, or POEMS for short, is an online trading platform and brokerage by PhillipCapital. POEMS offers various types of accounts catered to the different needs of individual investors.

Types of Accounts available with PhillipCapital (POEMS)

The types of account provided are:

  • Basic Trading (Cash) Account
  • Securities Financing Account
  • Securities Borrowing Account
  • Leveraged FX Account
  • Futures Account
  • Equities Plus Account

Read More about PhillipCapital (POEMS)
Reviews (140)

4.2

140 Reviews

  • 5
    69
  • 4
    47
  • 3
    11
  • 2
    6
  • 1
    7

Read Review About...

Most HelpfulMost RecentLow to HighHigh to Low
  • Updated 3h ago

    Purchased

    PhillipCapital (POEMS)

    Taking a few minutes to share my experience with poems here. I’m appalled by the customer management from Phillips securities. What happened was: I placed an order on Friday to sell all 300 of my DBS shares at 21.53. The price dropped further, so I withdrew the order, received the “your order of 300 shares of DBS has been withdrawn” message and placed another order to sell at 21.52, which I recieved notification that it was done. I received a call this morning to notify me that I have short sell 300 DBS shares and I have to settle payment, which was very strange because I have never done short-selling before and I don’t even know how it works. So apparently, the staff told me that the system did not recieve any withdrawn order and both orders of selling 300 shares were done. This meant that I sold 300 of my own dbs shares and short sell another 300 dbs shares, which I don’t own. I find it strange that there was a pop up of the successful withdrawal of order on the app and it was not registered on the backend. The staff insisted that I might have withdrawn it incorrectly because the system is always right and this was the first such incident and thus, it was impossible for this to happen. Firstly, covid-19 is also unprecedented and it happened. Secondly, if they checked my purchase history of other stocks, they would know that I have experience withdrawing orders since I have done it a few times when ordering stocks. Phillips securities then asked that I produce photo proof that the withdrawal message did show up, which is quite impractical?! Does Phillips expect all customers to screenshot every transaction we make with Phillips? Is this the right message to send across? And also, if I had wanted to short-sell, I would have selected the short-sell option instead, since their app has three options when trading: buy, sell and short-sell. Throughout the whole experience, I felt that my point of view wasn’t taken into consideration at all, and Phillips securities just wanted to pin this app error on me and compel me to make payment ASAP through their SBL so I wouldn’t lose more money. (And of course, they earn some fees in the process) In the first place, I shouldn’t even be paying for it since it’s not my error but the app’s. And also, Phillips securities customer service is probably the most terrible out there in the market. They were quick to demand payment but when I had other queries after I made payment, customer service office told me “it’s after 6pm, I have another appointment” and “can we get back to you next week after payment has been processed”? For those considering this platform, you might be better off with DBS vickers/FSMONE so you do not have to pay the cost of system error that you can’t control and lose money from your investment. They have a more reliable customer service and system. Waiting for all my stocks to rise before selling and getting away from POEMS forever. Use POEMS at your own risk (:
    0 comments
    0
  • Updated 2w ago

    Purchased

    PhillipCapital (POEMS)

    Its platform does not charge commission fee and is extremely easy to navigate. Beginners can learn quickly from its help button.
    1 comment
    0
    PhillipCapital
    PhillipCapital

    2w ago

    Hi Aleister, we are glad that you found our platform easy to use. We will continue to improve and serve you better.
  • Updated 2w ago

    Purchased

    PhillipCapital (POEMS)

    Poems trading platform is user friendly, they offers zero fees for trading on units trust as such I like to use their platform to buy/sell units trust. I did email them about the late payment of dividend and they had replied me promptly and settled the issue.
    1 comment
    0
    PhillipCapital
    PhillipCapital

    13 Dec 2019

    Hi Tok Koon, thanks for reaffirming our efforts, we strive to continue improving and serving you better.
  • Updated 2w ago

    Purchased

    PhillipCapital (POEMS)

    As a student with tiny capital, I want to experience diy investing and not rely on investing with robo advisor. I cannot speak for other people but I had a easy time opening an account with POEMS, in fact, i was worried about being able to open an account without income in the first place, and its for a cash upfront account.( so doesn't matter tbh) [Features] I think most brokerages and trading website offers some form of technical and fundamental analysis. POEMS offers the same but they have something called the wizchart, where the system will showcase bullish and bearish events for the specific stock you selected, and if you are not sure to the meaning of the events, they included an simple explanation as well. This removes the trouble of trying to google search and understand the meaning. There is also time and sales, market depth where you can see how much sales are bought/sold, at what time, and how many people are queuing at which price. [User Interface] I mostly use their app to buy/sell shares. As for the website ver, it is pretty okay as i mainly use it for charts and analysis. [Commission Rates] The rates plays a huge role on the purchase of shares. With a minimum of $25, it covers a huge chunk of the buying and selling price, which means $50 of my realized profits will go to just commission alone. I do hope that POEMS can reduce the commission rates to maybe at least $10 - $15. $10 reduction may not seem like alot but it helps. Overall, POEMS is a platform that provides the standard features with some good features of their own and definitely some room for improvements. I did not include customer service and others as I either have not experience or have nothing much to say about them.
    2 comments
    2
    PhillipCapital
    PhillipCapital

    2w ago

    Hi Ze Ming, thank you for leaving us a feedback. We strive to continue improving and enhancing your experience with us.
    Chan Ze Ming
    Chan Ze Ming

    2w ago

    No problem hahahah, looking forward to your continual improvement to the users.
  • Updated 2w ago

    Purchased

    PhillipCapital (POEMS)

    [Customer Service] I feel sad that I have to write another review for Poems. I have been with them for very long but they really let me disappointed me this time. 1) Unprofessional customer service. As a reputable stockbroker who has been in this line for many years, you should expect that volume will increase exponentially when there is market volatility, e.g Covid-19. So you should increase your staff right? But nooo. I had to call 3 times just to get through. When I finally got thru, the customer service officer can only say: we are so busy I have not been to the toilet since the start. First of all, is that the customers problem? A lack of complete professionalism aside, you should be telling this to the management right? Tell me for what? 2) Horrendous unapologetic stock Brokers. It is IMPOSSIBLE to get thru to your stockbrokers because the line automatically cuts off after 15 mins. Forget about a call back, they are too lazy to do it. The only way is to physically go down to the branch and bang table. But somehow they don’t have time to help me with an account issue but they have time to call me and chose me for 30 cents! (Which I had credited on the last day, so they would only receive it the next day after they called me). And after I complained to them physically at their branch - no apology, no remorse, no sign of wanting to change. Just blame high volume because of covid-19. Which once again , I can forgive if you are a restaurant or some front line hotel staff. But I cannot forgive you if you are an experienced stockbroker!!!! You should anticipate this!!! How can you not know that market volume will increase with market volatility??
    1 comment
    0
    PhillipCapital
    PhillipCapital

    13 Dec 2019

    Hi George, thank you for leaving us a review. We will continue to improve and serve you better.
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Types of services PhillipCapital POEMS provides

  • Poems 2.0 - a beginner friendly all encompassing interface for investors of all levels
  • Poems Mobile - for easy trading on the go
  • Poems Mercury - for more advanced traders
  • Other specialised platforms for CFD, Forex, UT and Futures
  • Access to over 40,000 products across more than 26 global markets
  • View your entire portfolio and access advanced features across all platforms anytime
  • Over 30 trading tools and features such as Enhanced Market Depth and Ticker Streamer for analysis and research

Types of accounts available with PhillipCapital (POEMS)

The types of account provided are:

  • Basic Trading (Cash) Account
  • Securities Financing Account
  • Securities Borrowing Account
  • Leveraged FX Account
  • Futures Account
  • Equities Plus Account

Brokerage fees and charges of PhillipCapital (POEMS)

The fees and charges of PhillipCapital (POEMS) are as follows:

Online

  • Minimum Commission: S$25
  • Investment of S$50,000 and below: 0.28%
  • Investment of S$50,000 to S$100,000: 0.22%
  • Investment above S$100,000: 0.18%

By Phone

  • Minimum Commission: S$40
  • Investment of S$50,000 and below: 0.50%
  • Investment of S$50,000 to S$100,000: 0.40%
  • Investment above S$100,000: 0.25%

Other transaction charges:

  • Clearing fee imposed by CDP: 0.0325%
  • SGX Trading fee: 0.0075%

Contact PhillipCapital (POEMS)