POEMS, or Phillip’s Online Electronic Mart System, is a prominent investment platform in Singapore. Established in the 1980s, it initially gained recognition as a Singaporean investment brokerage tailored for local investors. Over the years, POEMS has evolved significantly, expanding its offerings and geographical reach.
Today, POEMS boasts over 40 years of experience and offers a diverse range of financial products, with more than 40,000 options available to investors. This extensive selection caters to investors of all levels, from beginners to seasoned professionals.
One of POEMS’ notable achievements is its international expansion, spanning across 14 countries. This global presence allows investors to access markets beyond Singapore and diversify their investment portfolios.
Despite the increasing competition in the online brokerage industry, POEMS has maintained its position as a reputable and reliable platform for investors in Singapore. Its longevity, comprehensive product offerings, and commitment to customer satisfaction have contributed to its continued success in the financial market.
Overview of POEMS
Investors can engage in trading stocks, ETFs, unit trusts, bonds, CFDs, forex, and gold through POEMS. With no minimum balance required and zero deposit fees, POEMS offers accessibility to both novice and experienced investors. Additionally, there are no withdrawal fees or limits, providing flexibility for investors to manage their funds.
Commission rates vary depending on the market, with rates starting from 0.08% (minimum $8) for the Singapore market, $0 for the US market, and ranging from 0.05% to 0.5% for other markets, subject to minimums. While POEMS offers competitive commission rates, an inactivity fee of $15 per quarter is applicable for the Cash Plus Account to encourage active trading.
POEMS operates under the authorization of the Monetary Authority of Singapore (MAS), ensuring regulatory compliance and providing investors with confidence in the platform’s legitimacy and security.
Why Choose POEMS
Trading with POEMS offers several compelling reasons for investors.
Firstly, POEMS boasts a lengthy track record and provides access to a diverse array of markets. With over 40 years of experience, it stands out among Singapore-based online brokerages. Operating in 15 markets worldwide, including prominent ones like the US, UK, Australia, Japan, and Hong Kong, as well as lesser-known ones such as Belgium, Turkey, Taiwan, Thailand, and select regions of China, POEMS offers ample opportunities to construct a diversified portfolio.
Secondly, POEMS offers a wide selection of investments and account types, catering to various investor preferences. From leveraged products like Forex and CFDs to traditional retail investment instruments such as bonds, stocks, ETFs, and unit trusts, POEMS accommodates investors across different risk profiles. Moreover, many of these investment options come with no commission fees or service charges. For those starting with lower capital, POEMS provides regular savings plans and share builder plans for gradual portfolio building.
POEMS supports multiple methods of account funding, most of which are free of service fees. Investors can opt for PayNow, FAST, and eNETS payment methods, which allow for account crediting in as fast as 15 minutes. Alternatively, methods like cheque, Electronic Payment for Shares, and Internet Bill Payment may take up to two working days, while GIRO payments may take up to five working days to clear. This flexibility in funding methods enhances convenience and accessibility for investors.
POEMS is ideally suited for investors and traders seeking broad market access, reliability, and a diverse range of investment instruments. With its extensive track record and presence in multiple markets worldwide, POEMS offers a dependable platform for individuals looking to explore various investment opportunities. Additionally, POEMS provides a wealth of educational resources through various channels such as blogs, news updates, videos, events, and seminars, catering to investors of all experience levels and helping newcomers navigate the investment landscape more effectively.
When considering charges and fees, investors should be mindful of brokerage commission fees, which are relatively low and competitive, ranging from 0.05% to 0.5%. However, it’s essential to note the minimum charges per trade, as these can impact overall returns. Regarding account and service fees, most users encounter few to none. However, holders of a Cash Plus Account may face a quarterly inactivity fee of $15, which can be waived with at least one valid trade executed. Furthermore, investors using CPF or SRS funds should be aware of additional bank and SRS fees during account settlement, which can affect overall investment costs.
If you’re interested in investing in Malaysian stocks, the simplest method is through a stockbroker providing access to the Bursa Malaysia. One notable option is POEMS, renowned for its reasonable rates starting from 0.08% or MYR8.80. With these accessible choices, Singaporean investors can effortlessly broaden their investment portfolios and delve into opportunities beyond the
Types of POEMS Account
For active investors closely monitoring market trends and frequently engaging in trades, a Cash Plus Account is the recommended choice. With low brokerage rates starting at US$1.88 flat and 0.05% for minimum HK$15 trades, this account offers advantages such as increased available funds post-sale and the ability to trade in 10 different currencies. Additionally, features like live currency conversion on POEMS platforms and extended trading hours in the US market enhance convenience and flexibility.
On the other hand, for non-active, risk-averse investors, or those new to investing, the Cash Plus Account presents an attractive option. Offering the same low brokerage rates and no platform fees, it allows investors to deposit funds swiftly via PayNow, facilitating easy access to trading. Moreover, investors can select from various risk level tiers, catering to their individual preferences and comfort levels.
When it comes to investing with CPF and SRS funds, both Cash Plus and Cash Management Accounts offer solutions. While Cash Plus provides appealing brokerage rates starting from 0.06%, it requires sufficient cash in the account for trading. Conversely, the Cash Management Account enables trading without upfront deposits by utilizing trading limits, with funds deducted from CPF or SRS accounts the following business day. Furthermore, linking a Cash Management Account to a CDP account enables seamless trading of CDP holdings.
The article encourages readers to take their initial investment steps and offers assistance in selecting the most suitable account. For further inquiries, readers are encouraged to reach out to their Trading Representatives, the Dealing Team, or the Customer Experience Unit, with contact information provided for convenience.
Disclaimer
Every effort has been made to ensure the accuracy of the information provided, but no liability will be accepted for any loss or inconvenience caused by errors or omissions. The information and opinions presented are offered in good faith and based on sources considered reliable; however, no guarantees are made regarding their accuracy, completeness, or correctness. The author and publisher bear no responsibility for any losses or expenses arising from investment decisions made by the reader.
