PhillipCapital (POEMS) Reviews and Comparison - Seedly
 

PhillipCapital (POEMS)

  • Overview
  • Reviews (128)
  • Questions (16)
  • More Details
Online Brokerages/PhillipCapital (POEMS)
Online Brokerages/PhillipCapital (POEMS)

USER RATINGS

Customer Support

4.4

User Experience

4.3
Online Brokerages/PhillipCapital (POEMS)

USER RATINGS

Read reviews

Customer Support

4.4

User Experience

4.3

PhillipCapital (POEMS)

$25
TRADING FEES
0.18% to 0.28%
MINIMUM FEE
CDP
STOCK HOLDING TYPE

    PhillipCapital (POEMS)

    $25
    TRADING FEES
    0.18% to 0.28%
    MINIMUM FEE
    CDP
    STOCK HOLDING TYPE

Details

Types of account available with PhillipCapital (POEMS)

PhillipCapital (POEMS) offers various types of accounts catered to the different needs of individual investors.

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 (128)

4.3

128 Reviews

  • 5
    67
  • 4
    44
  • 3
    10
  • 2
    5
  • 1
    2

Read Review About...

customer service

user friendly

user interface

commission rate

market access

products offered

interface easy

poems platform

mobile app

trading platform

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  • Updated 2w ago

    Purchased

    PhillipCapital (POEMS)

    Hi, Its been wonderful to partner with you in my investment journey. I came to know about Poems at SGX Seminar and from there I maintained and grew my relationship with Phillips. At the seminar I opened 2 more Securities account, but I closed both of them. You know why!, but my account with Poems is still active. I attended some of your seminar in the office on Saturdays and got good advise my remeisser. I loved you promotions for transferring in my UTs from OCBC bank and also for buying UTs at no commission rate. In addition to that, I like you online (browser based) as well as mobile app-based trading interface. Kudos to Poems. Thanks for all your help. Best Regards ganesh
    0 comments
    0
  • Posted on 18 Dec 2019

    Purchased

    PhillipCapital (POEMS)

    Platform is good and user friendly. However, sometimes system down recently, need to improve to zero time down because this is a trading platform. Fees are very competitive especially prepaid cash account, for US Market, at least during promo period. However, 2FA is only available for Singapore IC or Singapore Residents, and not available for foreigner non-residents. It is quite unfortunate, as when we open big names Singapore bank account as a non-resident foreigner, we get 2FA login security. This 2FA gives us more confident putting more money in Phillip. Especially, in high digital spam and crime environment we experience these days. Please consider to sponsor issuing 2FA by OneKey for foreigners non-residents, i do not mind paying a fee for getting one. Thank you.
    1 comment
    0
    Phillipcapital
    Phillipcapital

    19 Dec 2019

    Hi Roy, thank you for your review. We are working on improving our platforms and will feedback to the team regarding the 2FA. If there is anything we can assist with, contact us via online chat on www.poems.com.sg or email us at [email protected]
  • Updated on 18 Dec 2019

    Purchased

    PhillipCapital (POEMS)

    I had been with PhillipCapital for about a year. I had seen how their POEMS (Android) APP improved over a year, e.g. we can access and amend our Regular Saving Plan via the POEMS app. My remiser team handling my account is responsive and willing to help. I also received to events updates. I also visit a few of their branches for administrative purposes, and all of the staffs are friendly and helpful. Im not sure about other brokerage, but PhillipCaptial offer Junior Joint Regular Savin Plan, which I find it useful and I had subscribed to it. Last but not least, brokerage commission and fee, should be pretty standards among brokerages. :) (updates: add-on) The daily news update email is informative and provided me good information. And Not forgetting tot the weekly webinar held every monday 1115am, where it given their analysis and a short FAQ session. i
    1 comment
    0
    Phillipcapital
    Phillipcapital

    18 Dec 2019

    Hi Kelvin, thanks for reaffirming our efforts, we strive to continue improving and serving you better.
  • Posted on 18 Dec 2019

    Purchased

    PhillipCapital (POEMS)

    Poems user here. Very good platform. It’s will be better if request of RSP to stop can do it online too
    1 comment
    0
    Phillipcapital
    Phillipcapital

    18 Dec 2019

    Hi Jenny, thank you for your review. We will inform the team on your feedback. We strive to continue improving and serving you better.
  • Updated on 18 Dec 2019

    Purchased

    PhillipCapital (POEMS)

    Poems app is a very user-friendly app that everyone can learn to use in a day. Phillip's customer service is immaculate especially my broker Mr Thomas Ng, he's very professional, knowledgeable, patient and helpful. The updates of my trades are updated immediately through poems app and email which I find very useful. Frequent reports send via email give good knowledge of the market. Monthly statements are also very detailed and on time. Besides poem app, another form of support is we also have stocksbnb website where we can read reports on most of the companies in Singapore.
    1 comment
    0
    Phillipcapital
    Phillipcapital

    18 Dec 2019

    Hi En Lye, thanks for reaffirming our efforts and we are glad that you are pleased with Thomas' services. We strive to continue improving and serving you better.
Questions (16)

Recent Activity

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Stocks Discussion

PhillipCapital (POEMS)

FSM INVEST EXPO 2020

DBS Vickers Securities

I am only aware of POEMS

Savings

Investments

Family

PhillipCapital (POEMS)

Marriage

Hi anon, 1 year of base expenses would be my benchmark for emergency funds, but there is no harm to have 1 year of base salary either. Assuming you have your emergency funds set aside, you should aim to grow the rest of the monies, taking into account your time horizon and needs. Regardless of whether both of you are aiming for FIRE or not, do bear in mind that investments involve risk, so in the short-mid term (3 to 5 years), monies that are needed during this period should be placed in safer investments. FDs, SSBs, POEMS money market, and even short term endowments can be considered. You wouldn't want to invest your monies only to see 20%-40% of the portfolio value wiped out right before the downpayment for the house renovations or the wedding. Understand that time bound commitments will require a certain level of predictability for funding them (if you have to pay the wedding banquet, the hotel won't extend an extra year to you just because the market is down), whereas FIRE, which doesn't technically have a fixed time frame (if you FIRE a year later than you intened, it doesn't really hurt you). For context, although I don't know what you have in mind for your wedding/reno/car, I can provide some context for the wedding costs (these are more common, if you wish to engage other vendors, then it depends, eg. an emcee): - Wedding banquet: Tables are anywhere from $1000 - $1800 depending on the hotel. Restaurants are cheaper. Multiply that by the number of tables - Photog: $1200 onwards - Video: $1500 onwards - Bridal package: $2000 onwards depending on package details, number of dresses, etc - MUA: $700 onwards - Wedding Bands: $1000 onwards - Don't forget the ang baos for the actual day! It can add up Renovations can cost anywhere from $15K-$20K onwards. Home appliances will really depend, but actually you'd probably get by with a basic washing machine, dryer, fridge and TV, while slowly installing other stuff like home entertainment systems or robotic vaccum cleaners. I don't own a car, so hard for me to comment there. Sorry. Try getting a second hand though, to get an idea of the costs, without a significant capital outlay required.

Investments

ETF

STI ETF

FSM One

Regular Shares Savings Plans (RSS)

OCBC

PhillipCapital (POEMS)

Jack
Jack
Level 3. Wonderkid
Answered 2w ago
If your monthly investment among is big enough, I will say POEMs will be good for you. If I recall correctly, they even allow you to automatically reinvest your dividend at no extra fees.

Investments

DBS

OCBC

PhillipCapital (POEMS)

ETF

Stocks Discussion

Dividends

STI ETF

Hi anon, I would not recommend doing RSP into the STI ETF.As an ETF, for capital gains, it is mediocre at best, for dividends, you are looking at 3% onwards, which is not exactly fantastic either. On the platform wise, it is my current understanding that POEMS SBP does give you the most choice in terms of what you can RSP into. You may consider doing around $3000-$5000 a month into a few counters for the next 3 - 4 years, based on your current cash holdings. However do take note that SBP only applies to equities. What you can do is to consider a multi asset strategy to better manage the risk of your portfolio. This includes - Fixed income funds for around 3%-5% yield, underlying asset would be bonds, this will add stability to your portfolio - Equity and REITs for 4% to 6% yield, although these have higher risk associated with them (although you did say that you don't have time to invest in individual stocks, so look at holding only a handful of good ones via POEMS SBP) - Deferred annuity for 3% - 5% yield, which will be immune to market conditions and hence form part of your basic floor for income solutions What you'll want to achieve is a portfolio giving a low volatility, stable and predictable income. As an example, you can start by earmarking around 1/4 of your funds to deploy via SBP over 3 - 4 years as I have mentioned earlier. 1/4 can be used to RSP into fixed income funds. 1/4 can be used to set up a deferred annuity and the last 1/4 will be held as a warchest to be deployed ad-hoc when opportunity manifests itself (you'll have to monitor the market for this, or work with someone who can advise, manage and monitor your portfolio).

Investments

DBS digiPortfolio

PhillipCapital (POEMS)

Stocks Discussion

Wilson Nid A Break
Wilson Nid A Break
Level 8. Wizard
Answered on 08 Dec 2019
Before you click on the "submit button" on your buy/sell order on the brokerage plateform, it should give a breakdown on the associated costs incurred for that particular trade. Usually include a minimum fee imposed by the brokerage, in addition there will GST charges etc

Investments

PhillipCapital (POEMS)

Poems has several type of account If they did not ask u to open cdp or link cdp then it should be a custodian account. Please kindly check with them.

PhillipCapital (POEMS)

FSM One

Investments

Hi anon, Yes, you can trade CFD on POEMs (I can't speak for FSMOne), but you will need to be at least 21 years old, and pass the CKA assessment. There's no need to look for a specific CFD provider. CFD is an unlisted product. If you do not meet any of the CKA (CFD) assessment criteria, you may sit for the online E-learning module (CFD) jointly developed by The Association of Banks in Singapore (ABS) and Securities Association of Singapore (SAS). The E-Learning portal defines the key features and risks of trading CFDs and allows retail investors to have a better understanding of the product before investing. Upon taking and passing the assessments on the E-learning portal, 1) Download the certificate. 2) Attach the completed CKA Form. 3) Email to your trading representative or [email protected] The link to the E learning module is here: https://sips.abs.org.sg/

Investments

StashAway

PhillipCapital (POEMS)

Hi Alfred, Phillip SMART Park is indeed MMF. The holdings are short term, high quality money market instruments and debt securities. The average maturity timeline is less than 40 days. In other words, they are instruments that will mature in less than a year, and hence capital appreciation from price movement is close to zero. Stashaway Simple is part LGI MMF, part LGI ELF. The average maturity duration of LGI MMF is 90 days, that of LGI ELF is almost a year. So in LGI ELF, there is a better chance of gain from capital appreciation since some of the debt instruments inside have more than a year to maturity (factsheet will show some holdings mature in 2021) So you can't compare the two. LGI MMF and Phillip MMF, sure. But not with LGI ELF. Different mandates. By the way, check out the LGI MMF and Phillip MMF price charts. You'll be able to see something in the price movements which although small, but might make a difference in how you perceive the two funds :)

Investments

Regular Shares Savings Plans (RSS)

PhillipCapital (POEMS)

Online Brokerages

Hi anon, Based on your monthly budget, you can check out OCBC and POSB even, to see what the charges would be like. I believe POEMS has the widest range of shares for you to choose from though, but I am not a fan of RSS as I prefer to wait for the right pricing for my shares before buying instead of committing an amount every month for the long term. You can automate the buying through any RSS scheme should you decide to proceed, but compare the scheme first to ensure your ransactional costs are minimized. If it's still high (say, 0.5% or more), you might not want to do RSS and should consider UT RSP instead.

Investments

Family

DBS

OCBC

PhillipCapital (POEMS)

Alvin Teo
Alvin Teo
Level 6. Master
Answered on 21 Oct 2019
Great that you plan on investing the money instead of giving it to your kid, it’s a good way to do financial planning. Not only is the platform important but also how much you plan to invest on a regular basis. Transaction fees aren’t the only way as there is also wrap fees where you pay a % annually rather than based on how many transactions you make. Right now, are you on any RSP yourself? If yes, it may potentially cost lesser to do in your own account with you rather than separate it into two accounts. Usually, this is an option for people with more than one kid and would like to distinctly divide the holdings. There is little to no diff to hold a joint account when you can eventually just transfer it to your boy when he is of age. Do visit those providers or an independent financial adviser like myself to see what options are available to you. Remember, the Platform is just a means to get things done.
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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)