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

  • Overview
  • Reviews (144)
  • Questions (0)
  • More Details
Online Brokerages/PhillipCapital (POEMS)
Online Brokerages/PhillipCapital (POEMS)

USER RATINGS

Customer Support

4.3

User Experience

4.2

PhillipCapital (POEMS)

None
MINIMUM FEE
0.08%
TRADING FEES
Custodian
STOCK HOLDING TYPE

    PhillipCapital (POEMS)

    None
    MINIMUM FEE
    0.08%
    TRADING FEES
    Custodian
    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.

  • Trading Fees: 0.08%
  • Minimum Fee: None
  • Stock Holding Type: Custodian

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 (144)

4.2

144 Reviews

  • 5
    71
  • 4
    48
  • 3
    12
  • 2
    6
  • 1
    7

Read Review About...

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  • Updated 4d ago

    Purchased

    PhillipCapital (POEMS)

    [User Interface] The app is user-friendly and easy to navigate. Doesn't take much time to learn how to use it. Beginners can register for a demo account to practise. However, as US live prices is free now, the app tends to hang when I'm viewing US stocks. [Features] Excess funds in your trading account with a minimum balance of $100 will be automatically invested into Phillip Money Market Funds, available in both SGD and USD. This earns higher interest than the banks. [Market Access] Has access to most markets. [Commission Rates] For broker-assisted accounts, the rates aren't as low as online brokerages like FSMOne or Saxo but some brokers provide value-added services like webinars so it's worth it. [Custody Fees] SGD 2 per stock up to a max. of SGD 150 per quarter (7% GST applies). Monthly charges are automatically waived if certain conditions are met. [Types of Orders] Advanced market orders are available. [Customer Service] Customer Service Officers are prompt and helpful when addressing my queries.
    0 comments
    0
  • Updated 4d ago

    Purchased

    PhillipCapital (POEMS)

    [Commission Rates] When I want to buy 10k of certain stock, it tend to transact in portion of the lot, which ended i need to pay more commission if it take 2 or more days to process. Why don transact the 10k at the price that we want.
    0 comments
    0
  • Updated 4d ago

    Purchased

    PhillipCapital (POEMS)

    The POEMS Online platform & the POEMS mobile app are both well designed and provide investors with all the information they require to carry out their fundamental/technical analysis. [User Interface] The POEMS mobile app has a very simple and intuitive user interface. This makes navigating the app smooth and easy. On the other hand, the POEMS online platform is rather complicated. It may be too much for the non-tech savvy person to navigate well. It would be good if the technical analysis tools could also be added to the POEMS Mobile App for the benefit of the users. [Market Access] The market access is good, up to date and offers a wide range of equities and investments. However, new investors simply looking for index funds (e.g. S&P 500, Dow, NASDAQ..) might be confused by the large number of tracker indexes in the different global stock markets. As a result, they might not know which one is the actual index they are looking for. An infomation tab attached to the side could be useful in helping new investors understand the technical jargon when searching for stocks. [Customer Service] The customer service is smooth. I've called them multiple times to assist with the transfer of funds to and from the POEMS platform. The staff were polite and efficient. They even helped to expedite my transfer, though normally it would take more working days.
    1 comment
    0
    Seng Min Lim
    Seng Min Lim

    4d ago

    Always able to get prompt response for investment advice through my assigned agent to contact.
  • Updated 4d ago

    Purchased

    PhillipCapital (POEMS)

    [User Interface] UI is really user friendly and easy to learn especially for starters! [Market Access] Market Access has been very good too with whatever you name, they have it! [Features] Features are excellent which made the application way usable!
    0 comments
    0
  • Updated 5d 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 (:
    1 comment
    0
    JS @Bedok South
    JS @Bedok South

    4d ago

    Hi SY, is unfortunate to hear such a bad experience that you had. I am a POEMS user for some times, I wonder whether you can retrieve the evidence under "Order status" and "Past Orders" (up to past 7 days). Hope this helps. Have good days ahead.
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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)