We found 2 PhillipCapital (POEMS) Online Brokerages for you!
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Min. Funding
$1,000
Min. Funding
- Min. Commission Fee US Stocks
- US$3.88
- Min. Commission Fee SG Stocks
- 0.08%
- Min. Funding
- $1,000
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Min. Funding
S$0
Min. Funding
Compare the Best PhillipCapital (POEMS) Online Investment Brokerages in Singapore 2021
Choose from MoneySmart's curated list of best brokerages in Singapore and Learn how to maximise returns.
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Phillip Securities: POEMS Singapore
What is PhillipCapital?
PhilipCapital is a brokerage firm founded in Singapore in 1975 by Philip Securities with presence across 15 countries such as Australia, China, Hong Kong, France, Japan, and more. Both Phillips Securities Pte Ltd and its sister company, Phillips Futures Pte Ltd, are regulated by the Monetary Authority of Singapore (MAS).
Online Trading
PhilipCapital offers over 40,000 products such as stocks, ETFs, CFDs, DLC, warrants, bonds, unit trusts, FX, futures, share financing, securities borrowing and lending, excess fund management, IPO financing, HK Pre-IPO, regular saving plans, robo advisory, managed accounts, and insurance across more than 26 global exchanges such as SGX Singapore, NYSE and NASDAQ in US, and more.
POEMS 2.0
Philip Securities’ POEMS Singapore, otherwise known in full as Phillip’s Online Electronic Mart System, is an online trading platform owned by Philip Securities’ brokerage division, PhilipCapital. PhilipCapital first launched the classic POEMS in 1996. Later in 2013, a newer POEMS 2.0 trading platform was introduced. Investors and traders can login to either the POEMS 2.0 desktop or mobile version on Apple iOS or Android to access their watchlists, portfolio, positions, transaction history, news, and online forms for fund withdrawal and currency conversion requests. Both desktop and mobile versions are synchronised.
How to Open a POEMS Account
If you are new to PhilipCapital POEMS Singapore and are looking to open a POEMS account, you can simply scroll up and click on the POEMS bubble to sign up for an account seamlessly. Alternatively, visit the Phillip Securities website to complete the application.
Step 1
CDP Account Opening
What is a CDP account? If you are new to trading or investing in Singapore, you will need to set up your CDP (Central Depository) account by the SGX (Singapore Exchange). A CDP account holds the shares that you have acquired and is regulated by the Monetary Authority of Singapore (MAS). So, how to open a CDP account online? Visit the SGX website, followed by the “Securities” category and “Retail Investor” if you are an individual trader or investor. You will then see the option to “Apply for CDP Securities Account”.
Step 2
CDP or Custodian
PhilipCapital offers both CDP and custodian account types – the Cash Plus Account is a custodian account which allows you to trade but acquired shares will be held by Phillip Securities. Any dividends will be transacted through your custodian account as well. The Cash Management Account, on the other hand, can be linked to your CDP account.
Step 3
Apply Online
So, how to open a POEMS trading account online in Singapore? Visit the Phillip Securities website, select “Open An Account” where you will be guided through an online application form or prompted to apply for an account via SingPass MyInfo. With all the necessary documents, your application should be approved and account activated within 2 working days. To check on your POEMS application status, call the PhillipCapital customer service hotline at +65 6531 1555.
Step 4
Fund
Once your account has been activated, you can fund your account via PayNow, FAST, eNETS, EPS, Internet Bill Payment, Telegraphic Transfer, Cheque, CPF/ SRS, or GIRO. Finally, login to your POEMS trading account and you will be able to place your first trade.
Step 5
Learn to Trade
PhillipCapital offers a series of Investor Education materials for both beginner and experienced traders and investors alike on the POEMS Singapore platforms – you will be able to read current news articles, research, and analysis of the market via POEMS’ own Bull and Bear website, attend free video webinars on topics such as gold trading, insurance, and IPO on Zoom, and watch weekly outlooks, and market insights via the PhillipCapital Youtube channel. Finally, when you are ready, you will be able to create a demo account to practice creating watchlists, or viewing and submitting trade tickets etc. before making your first trade.
Step 6
Your First Trade
How to trade on POEMS? To submit your first trade, be sure you have assessed your budget, the risks involved, and that you have done adequate technical and fundamental research on your product or instrument of choice. Then, open your POEMS 2.0 platform, double click on a counter from your watchlist to bring up the trade ticket which you will have to fill in with your trade action, limit price, quantity, payment type, and currency. You will then be prompted to review your order before you place your trade.
POEMS Fees
What is PhilipCapital's minimum deposit for opening a trading account? If I were to open a POEMS trading account, what are some trading fees I will be charged for my trades in the future? Fees are some of the most common questions that we have while considering an online brokerage. Fret not, we have it all covered here.
Commission Fee
POEMS commission fees vary according to your account status. For POEMS Cash Plus starter accounts with asset value below S$30,000, trades are subject to 0.12% commission for SGX Singapore stocks and US$10.88 flat for US Stocks. For POEMS Cash Plus premier account holders with asset value between S$30,000 and S$249,999, trades are subject to 0.10% commission for SGX Singapore stocks and US$8.88 flat for US Stocks. For POEMS Cash Plus privilege account holders with asset value above S$250,000, trades are subject to 0.08% commission for SGX Singapore stocks and US$6.88 flat for US Stocks.
Trading Fees
If you are trading on SGX Singapore, other trading fees include clearing fees of 0.0325%, SGX trading fee of 0.0075% on gross contract amounts, and SGX settlement instruction fee (SI fee) of S$0.35 per settlement. Structured warrants will incur 0.004% clearing fee of contract value, with a SGX trading fee of 0.001% of contract value. If you receive cash dividends, your dividends will be subject to a 1% charge on net dividend (minimum of S$1.07, capped at S$53.50 inclusive of GST) and any foreign broker fees and taxes if applicable. If you receive scrip dividends, your dividends will be subject to a S$10.70 (inclusive of GST) charge, and any foreign broker fees and taxes where applicable.
POEMS Trading Fees: A Summary
| POEMS Trading Fees | Cash Plus Account | |
|---|---|---|
| SGX Market | 0.12% (up to S$30k contract value) | |
| US Markets | US$10.88 | |
| CFDs - Singapore | 0.128% (on Index Component Stocks) | |
| Account Maintenance Fee | S$15 per quarter (waiver available) | |
| Cash Dividend Processing Fee | 1% on net dividend (min. S$1, max. S$50) | |
| Platform Fee | S$0 | |
| Account Closure Admin Charge | S$1.07 (if credit balance falls below S$1) | |
| Transfer In Fee - SGX Shares (from CDP to custody) | S$10.70 per counter | |
| Transfer In Fee - SGX Shares (from other brokers to custody) | S$0 | |
| Transfer Out Fee - SGX Shares (from custody to CDP) | S$21.40 per counter | |
| Transfer Out Fee - SGX Shares (from custody to other brokers) | S$64.20 per counter | |
| Regular Savings Plan Handling Fee | S$0 | |
| Share Builders Plan - Handling Fee | S$6.42 (for 2 or less counters, total investment below S$1k) |
POEMS 2.0 vs Classic POEMS
PhilipCapital offers 5 trading platforms suitable for traders and investors of all levels - the Classic POEMS desktop trading platform, a new POEMS 2.0 which has recently been refreshed with faster features, POEMS 2.0 mobile, POEMS Mercury for advanced traders, and specialised platforms such as the Phillip MetaTrader 5, Phillip FXTrader for larger trade volume from professional and institutional investors, Phillip FX365 for futures trades only, POEMS Professional for futures, options, spot FX, and spot Bullion, a multi-language CQGTrader for futures and options, and TT Net for scalp traders.
POEMS 2.0
POEMS 2.0 is PhilipCapital’s flagship desktop trading platform and comes as a successor to the former classic POEMS desktop platform. POEMS 2.0 offers you access to over 15 exchanges worldwide, and access to trading products and instruments such as equities, CFDs, unit trusts, futures, and FX. Other POEMS 2.0 benefits include real-time streaming, intraday, and historical charts that span up to 20 years of data and can be customised, technical indicators, advanced trade actions such as stop limits and if-touched orders.
POEMS 2.0 Mobile
POEMS 2.0 Mobile is a mobile version of the POEMS 2.0 desktop trading platform, offering the same breadth of 15 international exchanges, equities, CFDs, unit trusts, futures, and forex trading products and instruments. POEMS 2.0 Mobile is synced to the desktop platform - meaning the watchlist you have created, your portfolio, outstanding positions, and transaction history logged on POEMS 2.0 desktop will appear on the mobile application too.
Classic POEMS
Classic POEMS was the first online trading platform developed by PhilipCapital in 1996. The platform was later replaced by a newer POEMS 2.0. While existing users can still trade on the Classic POEMS platform, new Phillip Capital traders and investors can no longer sign up for a Classic POEMS account. If you are still trading on Classic POEMS and would like to make the switch to POEMS 2.0, you will be able to import your watchlist via the POEMS 2.0 website.
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POEMS Minimum Deposit and Withdrawals
Minimum Deposit
- If you plan to open a POEMS Cash Plus or Cash Management account, do note that no minimum deposit or minimum balance will be required – although you do need to have sufficient funds in your account to execute trades.
Close POEMS Account
- If you are looking to close your POEMS account, you will need to withdraw your funds from your account by first submitting a withdrawal request form online or via your broker. Then, download the Terminate GIRO Linkage form and account closure form, fill them up, and mail them back to the PhillipCapital office.
POEMS Trading Products
| POEMS Trading Products | ||
|---|---|---|
| Stocks/ Shares | Access to over 24 global exchanges | |
| ETFs (Exchange Traded Funds) | Access to over 3,000 ETFs listed on global exchanges | |
| Warrants | Gives you the right to purchase securities in the future | |
| DLCs (Daily Leverage Certificates) | 23 long and short DLCs available from 3 to 7 times leverage | |
| Unit Trust (or Mutual Funds) | Over 1,800 funds available on POEMS | |
| CFDs (Contracts For DIfferences) | CFDs for equities, ETFs, indices, commodities, FX, and DMAs | |
| RSP (Regular Savings Plan) | Over 44 stocks, ETFs, and unit trusts available | |
| Securities Financing | Over 100 bonds, 2,000 stocks and ETFs across 11 global markets | |
| Securities Borrowing and Lending | Temporary securities loan available on POEMS | |
| Bonds | Over 200,000 bonds across 9 currencies | |
| Money Market Fund | Uses excess funds to invest in short-term, low-risk, liquid securities such as bonds and bills | |
| Forex/ Futures | Access 24 hour broking over 21 global exchanges and over 40 major and exotic FX pairs | |
| Insurance | Over 20 insurance partners and 12 products | |
| SRS (Supplementary Retirement Scheme) | Invest using governmental SRS funds | |
| Managed Account Services | Investment portfolio serviced by managers, direct ownership of stocks | |
| IPO Financing | Apply for Singapore IPO shares with 20% down payment | |
| Phillip SMART Portfolio | Robo advisor-like structured portfolios serviced by investment managers | |
| Phillip Wealth | Personalised wealth and portfolio management service | |
| Securities Advisory Service | Trading representative selects stocks, ETFs from over 23 global exchanges | |
| Excess Funds Management | Excess funds invested into Phillip Money Market Fund |
POEMS News and Research
When choosing a broker, you need to find out if they provide daily, accurate, and relevant market news, journals, analysis, reports, and videos on their trading portals or websites for your perusal. Majority of brokers will provide you with materials ranging from trading product and instrument explainers for beginners, step-by-step tutorials for their trading platforms, to in-depth market reports for amateurs and professional traders and investors alike.
Trading for Beginners
POEMS Singapore offers a simple guide to trading for beginners on its website, detailing initial goal-setting and budgeting processes, quizzes to determine your risk tolerance, asset allocation, and how to conduct daily news research and analysis by reading expert opinions, market journals from POEMS Singapore’s own Bull and Bear website, and attending webinars on Phillip Capital’s Youtube channel etc.
Research Material and Insights
The POEMS website offers updated information such as Singapore Q4 2020 stock pick reports, daily morning notes on global markets, weekly market outlook calls and webinars, summarised market news, market watch videos, stock analytics, fundamental analysis on companies, and streaming news across the POEMS website and trading platforms.
Advanced Tools
Phillip Capital offers trading tools such as ETF and stock screeners, thematic portfolios, overview of indices prices and STI component stocks, market and ticker streamers, Chart-Live, ChartWhiz, trading central, and calculators.
POEMS Customer Service
To contact PhillipCapital POEMS customer service, call 6531 1555 from 8:45am to 5:30pm, Mondays to Fridays. If you are a Phillip Futures client, call 6538 0500 between 9am to 6pm, Mondays to Fridays. If you are a Japanese speaking POEMS client, you can dial 6338 3942. For night trading on EUR, US, CA markets, you can contact the night desk customer service at 6531 1225. Alternatively, you will be able to access the POEMS Chatbot 24/7 if you need to retrieve your account details, unsuspend your account, or enquire about charges, payments, and platforms. Finally, you can visit any of POEMS Singapore’s branches at Raffles City, Ang Mo Kio, Boon Keng, Bukit Batok, Bukit Timah, Holland, Jurong East or West, Marine Parade, Marsiling, Northpoint City, Raffles Place, Tai Seng, Toa Payoh, or Bugis by appointment only.
POEMS Singapore Summary
PhilipCapital POEMS Singapore is a great online brokerage firm for experienced investors and traders who are trading in high volume, especially for asset values above S$250,000 and are able to maximise the preferential 0.08% commission fee for SGX Singapore stocks and US$6.88 commission fee for US stocks.
Commonly Asked Questions
Is POEMS CDP or custodian?
- You can hold either a PhillipCapital POEMS Custodian Cash Plus account or link your own CDP (Central Depository) Singapore account to your PhillipCapital POEMS Cash Management account.
How do I activate my CDP account?
- To create and activate a CDP (Central Depository) Singapore account, you have to first apply for a CDP account with the SGX Singapore website via an online form or via SingPass MyInfo if you are a Singapore citizen or PR (Permanent Resident). You will then receive an email confirming your application and requesting that you activate your account. Once you have verified your linked email account and received an email from the CDP notifying you of your application success, you are set to go. Alternatively, you can have your preferred bank or broker do up the CDP application for you at no cost usually.
What is a limit order to sell?
- A Limit Order helps you purchase or sell a stock at a price that you have in mind and it comes in two forms: buy Limit Order and sell Limit Order. A buy Limit Order allows you to purchase shares at a preferred price (that is lower than the current market’s offering) and can only be executed at the limit price you have set in place, or lower. A sell Limit Order, on the other hand, allows you to sell your shares at a preferred price (that is higher than the market’s current offering) and will only be executed at the limit price you have set, or higher. Even though Limit Orders do not guarantee execution, it protects you from paying beyond your pre-determined price for a stock.
What is Phillip Capital’s customer service hotline?
- Phillip Capital’s general enquiries hotline in Singapore is +65 6531 1555 and operates from 8:45 a.m. to 5:30 p.m. on weekdays. Alternatively, you may get customer support via the in-app chat function, Phillip Chatbot, which is located at the bottom right of the POEMS website. To retrieve your Trading Representative’s contact information through Phillip Chatbot, simply type in “remiser details”.
How to open CDP account?
- To open a CDP account online, visit the SGX website, click on “Securities”, followed by “Retail Investor”, and “Apply for CDP Securities Account”. For Singaporeans or Permanent Residents (PRs), you will be able to complete your application with SingPass MyInfo. If you are a foreigner, fill in the online form and upload all necessary supporting documents. When you are done, an application confirmation email will be sent to you.
How to open trading account in Singapore?
- To open a trading account in Singapore, you will need to first apply for a CDP (Central Depository) account online via the SGX (Singapore Exchange) website. A CDP account will allow you to buy and legally own shares and securities. If your brokerage firm of choice allows, you will be able to link your CDP account to your trading account to legally own and hold the securities you have purchased. If you are planning to make use of your brokerage firm’s custodian account, you may need a CDP account when you eventually close your trading account and need to transfer your securities out. Once you have a CDP account, visit your brokerage firm of choice’s website and you will be able to seamlessly apply for a trading account online. Some firms may require you to make an appointment to sign formal application forms in the presence of a witnessing officer due to SGX regulations.
Can I open trading account online?
- Yes, you will be able to open a trading account online via your brokerage firm’s website or portal with SingPass MyInfo if you are a Singapore citizen or Permanent Resident (PR). If you are a foreigner, you will be able to open for a trading account in Singapore online via the firms’ online application forms.
How to open POEMS account?
- To open a POEMS account, visit the Phillip Capital website and click on “Open An Account” to initiate the application process. Choose your account type, trading facility, and you will be prompted to choose to complete your application with SingPass MyInfo for Singaporeans and PRs or an online form for foreigners.
How do you trade with POEMS?
- If you are using POEMS 2.0 trading platform, you can submit a trade by first launching your POEMS 2.0 platform. Right click on your counter of choice, a sub-menu will pop up. Select “Trade” and the trade widget will open. When you see the trade widget, fill in your order type, trade action, price, quantity, and other details before you click submit. Once your order has been placed, you will then be able to view it under the “Order Status” tab.