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Poems new Cash acc. $6.88 fees.

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Old 14-02-2020, 02:45 PM   #1
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Poems new Cash acc. $6.88 fees.

Phillips Securities has a new Cash trading account which charges low fee of USD$6.88 for US markets.

Cheaper than online broker Saxo,TD,City Index and IB.
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Old 14-02-2020, 02:55 PM   #2
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Doesn't look too good once you look at the AUM requirements and the price for LSE.

https://www.poems.com.sg/cash-plus/
https://www.poems.com.sg/FinancialSe...-INFOSHEET.pdf
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Old 14-02-2020, 02:57 PM   #3
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Phillips Securities has a new Cash trading account which charges low fee of USD$6.88 for US markets.

Cheaper than online broker Saxo,TD,City Index and IB.


depends on trading frequency.

Posted from PCWX using Redmi K20 Pro
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Old 14-02-2020, 03:13 PM   #4
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under 'Privilege' scheme is worth it.

Expect other Singapore broker to follow suit with similar?

Really kanna overcharged.
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Old 14-02-2020, 03:25 PM   #5
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If you qualify for privilege scheme, why would you not use IBKR?
Pretty weird to claim that this is cheaper than IBKR, when IBKR has a minimum commission of US$0.35 for US markets
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Old 14-02-2020, 04:40 PM   #6
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If you qualify for privilege scheme, why would you not use IBKR?
Pretty weird to claim that this is cheaper than IBKR, when IBKR has a minimum commission of US$0.35 for US markets
"Privilege" status requires at least S$250,000 of assets. The commissions are dirt cheap for everyone at Interactive Brokers, but if you have US$100,000 of total account value then the US$10/month minimum commission is waived. And it's only a minimum commission, from which your normal commissions are first deducted before you pay anything above US$10.

Interactive Brokers also offers much lower London Stock Exchange commissions across the board.
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Old 14-02-2020, 05:15 PM   #7
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I not a fan of shares custodian account.
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Old 14-02-2020, 05:29 PM   #8
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I not a fan of shares custodian account.
All assets deposited or transacted through the Cash Plus Account will be held in custody with PSPL except for purchases funded using CPF/SRS moneys.

Corporate actions, such as dividends and rights subscriptions, will be processed in the Cash Plus Account. Accounts with multi-currency facility will receive cash dividends in the declared currency unless otherwise determined by the issuer/PSPL.
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Old 14-02-2020, 10:10 PM   #9
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I not a fan of shares custodian account.

...so why do you still like poems?
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Old 15-02-2020, 02:34 PM   #10
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I not a fan of shares custodian account.
You are slapping yourself there.....
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Old 15-02-2020, 02:37 PM   #11
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You are slapping yourself there.....
Must ask if the TS is working for POEMS or related to anyone working at POEMS...
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