PhillipCapital (POEMS) Reviews and Comparison - Seedly
PhillipCapital (POEMS)
2.8
6 reviews
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Reviews (6)
2.8
Reviews (6)
2.8
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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.
    0 comments
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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 🙂
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Questions (6)

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Investments

PhillipCapital (POEMS)

ETF

Elijah Lee
Elijah Lee
Top Contributor

Top Contributor (Aug)

Level 8. Wizard
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

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.

Online Brokerages

Brokerages

PhillipCapital (POEMS)

Guo Hao Teo
Guo Hao Teo, Self-Taught Enthusiast at Personal Finance

()

Level 4. Prodigy
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

Regular Shares Savings Plans (RSS)

PhillipCapital (POEMS)

Blue Chips

SW
Shaun Wq Lim

()

Level 4. Prodigy
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.

Investments

PhillipCapital (POEMS)

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