PhillipCapital (POEMS) Reviews and Comparison - Seedly
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PhillipCapital (POEMS)
3.0
7 reviews
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  • Customer service is good but app design feels dated when compared to competitors. Will suggest to revamp the app and website.
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  • Updated on 13 Jun 2019
    I used 4 other local brokers before switching to POEMS around 1+ years ago. Pros: Can trade in much more overseas exchange markets especially in Southeast Asia. Allows multiple asset class access besides Equities. Such as CFD, FX, Unit Trust and Insurance. Allows keeping multiple currencies deposit and pays slightly higher interest than banks. The fees are reasonable. Have more reports, analysis, better charting tools. Allows Advanced Order types such as Stop Loss, Market Limit etc, which is crucial but are not available in those 4 other local brokers I have used. Can choose CDP account or Cash Account, which allows cheaper fees. Cons: The platform takes time to get used to. Not as user-friendly to navigate and somewhat messy. Occasionally it takes time to load and hang. I am still using POEMs for SGX-listed and Southeast Asia-listed shares. Otherwise for other markets, I still prefer my other overseas broker due to more cheaper fees
    1 comment
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    Fahrettin Haczeyni
    Fahrettin Haczeyni

    08 Feb 2019

    Hey Siti, just curious. Which international brokers you use for foreign markets NYSE etc?
  • Updated on 10 Jan 2019
    They have update the mobile apps, which is usefull for quick mobile trading. I think more importantly is you must have a good remiser. Do pm me for one, as my current remiser is good:)
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  • Updated on 28 May 2018
    Good prepaid account fees as compared to other platforms. Have used it for a while to buy dividend stocks (ie. STI index), simple to put in orders. They also offer free investment classes monthly at their different outlets where you can learn more about how to use the Phillip POEMS platform, or other beginner investment knowledge.
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  • Updated on 23 May 2018
    You can trade it for every shares you got however, the website is too complicated. There were missing functions and you have to find it yourself. There were too many steps. Not user-friendly
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  • Updated on 21 Feb 2018
    PROS: - Zero commission for unit trusts, but I believe this is promotional, so enjoy while it last. Obviously they are fighting with FSM. Without this carrot, I will totally not use POEMs. CONS: - Worst website even with a 2.0 revamp in 2017. Very confusing, even for a simple action of withdrawing cash back to your bank. - To terminate a RSP, I have to submit a physical form
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  • Updated on 20 Feb 2018
    I started my investment Journey with Poems first around 10 years ago before I switch platform Pros: Allows you to trade, different type of investment assets Cons: Poor user interface, currency are not converted automatically Re-visited it 3 years ago, open account under my friend's name. After going through its interface again, the same problems still remains. Therefore I did not use it, prefer my foreign brokerage accounts šŸ™‚
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Questions (9)

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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
Top Contributor

Top Contributor (Oct)

Level 6. Master
Answered on 21 Oct 2019
Great that you plan on investing the money instead of giving it to your kid, itā€™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 arenā€™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.

Investments

ETF

Securities

PhillipCapital (POEMS)

Besides what Hariz has mentioned regarding the Infinity US 500 UT, you can also directly buy the vanguard S&P 500 ETF on the NASDAQ exchange on POEMS, although you will have to pay brokerage fees for that as it is an ETF and not a UT. Please don't buy the one traded on SGX as the volume is really bad and you will have a liquidity problem.

Investments

PhillipCapital (POEMS)

ETF

Elijah Lee
Elijah Lee
Top Contributor

Top Contributor (Oct)

Level 10. Unicorn
Updated on 05 Aug 2019
At $200/mth, the transactional costs are just too high. There will be better options even if you want to invest monthly, and you can still get shares, just save up and wait for a good price. I'm with Phillip, and I don't recommend SBP in your situation as you can do DCA in other ways on the POEMS platform.

Investments

Unit Trust

POSB

PhillipCapital (POEMS)

Hi there, there are no fees from Phillip to transfer in UTs. It is just important to take note that 1) POEMS also carries the fund (else you can't transfer it in) 2) The relevant paperwork is signed off (depends on the fund source, fund house) Just be aware that the transfer in the process would 'freeze' your UTs and you would not be able to transact in them until they are reflected in POEMS. You can drop me a message if you would like to know more about the process, timeframe, etc.

Investments

Regular Shares Savings Plans (RSS)

PhillipCapital (POEMS)

Blue Chips

SW
Shaun Wq Lim
Level 5. Genius
Updated on 14 Jul 2019
You might want to double check your information. OCBC BCIP charges min. $5 fee per counter per transaction. For 6 counters, that will be $30 per month.

Online Brokerages

Brokerages

PhillipCapital (POEMS)

Guo Hao Teo
Guo Hao Teo, Self-Taught Enthusiast at Personal Finance
Level 5. Genius
Answered on 04 Jun 2019
I have the custodian based one. Works the same way in my opinion.

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.

Investments

PhillipCapital (POEMS)

Gabriel Tham
Gabriel Tham, Kenichi Tag Team Member at Tag Team
Level 9. God of Wisdom
Updated on 07 Jun 2019
Usually expense ratios, and other fees will be listed in the fund factsheet or product highlights. No need for manual calculations. Other fees can include sales charges, management fees, expense fees etc
About PhillipCapital (POEMS)
Product NamePhilipCapital POEMS
Stock holding typeCentral Depository Account (CDP)
FeesMinimum: $25 < $50k: 0.28% $50 to $100k: 0.22% >$100k: 0.18%
Cash Upfront OptionMinimum $10 or 0.12% whichever is higher (until 30th June 2019)

Types of account available with POEMS PhillipCapital

POEMS Phillip Capital 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

Brokerage fees and charges of POEMS Phillip Capital

The fees and charges of POEMS Phillip Capital 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 POEMS Phillip Capital