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-   -   How to activate US trading account in POEMS? (https://forums.hardwarezone.com.sg/stocks-shares-indices-92/how-activate-us-trading-account-poems-6348174.html)

Raynon 01-08-2020 11:26 AM

How to activate US trading account in POEMS?
 
Can anybody how to activate the US trading account in POEMS? Is there a need to pay any extra fee for trading US market?

reddevil0728 01-08-2020 11:27 AM

Quote:

Originally Posted by Raynon (Post 128833264)
Can anybody how to activate the US trading account in POEMS? Is there a need to pay any extra fee for trading US market?

did you submit your w8bene form?

paul02 01-08-2020 11:27 AM

Quote:

Originally Posted by reddevil0728 (Post 128833275)
did you submit your w8bene form?

Have to physically go down bank to sign?

Raynon 01-08-2020 11:32 AM

Quote:

Originally Posted by reddevil0728 (Post 128833275)
did you submit your w8bene form?

Not yet. What is this form for?

reddevil0728 01-08-2020 11:35 AM

Quote:

Originally Posted by paul02 (Post 128833288)
Have to physically go down bank to sign?

Quote:

Originally Posted by Raynon (Post 128833392)
Not yet. What is this form for?

https://www.poems.com.sg/faq/general...8ben-form-pdf/

wutawa 01-08-2020 11:51 AM

Contact your broker or poems.
Yes, there r extra fees.

For cash plus account,
1. Acct maintenance fee
2. Foreign shares custody charges
3. Cash dividend processing fee
4. Other corporate action handling fee
5. Currency exchange fee

https://www.poems.com.sg/pricing/

Raynon 01-08-2020 11:52 AM

Quote:

Originally Posted by reddevil0728 (Post 128833445)


Is there any ETF that is linked to Dow Jones, S&P500 or Nasdaq?

reddevil0728 01-08-2020 12:06 PM

Quote:

Originally Posted by Raynon (Post 128833784)
Is there any ETF that is linked to Dow Jones, S&P500 or Nasdaq?

Many with a simple google

scudettoz7 01-08-2020 03:42 PM

I rmb just have to click submit after completing it online, and you can begin US trading Liao

Raynon 01-08-2020 04:42 PM

Quote:

Originally Posted by scudettoz7 (Post 128837968)
I rmb just have to click submit after completing it online, and you can begin US trading Liao

Whats the charge for trading US stock? Roughly how much per transaction if the transaction amount is less than 10k sgd

reddevil0728 01-08-2020 04:50 PM

Quote:

Originally Posted by Raynon (Post 128838984)
Whats the charge for trading US stock? Roughly how much per transaction if the transaction amount is less than 10k sgd

Did you check out their website?

peterchan75 01-08-2020 05:11 PM

Must do these 2 thingy....
1. Convert your account to dual currency. Otherwise, need to convert to US$ when buy and convert to S$ when sell.
2. Submit W8BEN form for non-US residence.

Raynon 01-08-2020 05:28 PM

Quote:

Originally Posted by peterchan75 (Post 128839467)
Must do these 2 thingy....
1. Convert your account to dual currency. Otherwise, need to convert to US$ when buy and convert to S$ when sell.
2. Submit W8BEN form for non-US residence.

How to convert account to dual currency?

limster 01-08-2020 07:32 PM

One of the reasons why some investors are still using poems is that they can talk to their broker and ask for help. my broker told me there are clients still placing orders through the telephone (they waive the additional phone order charge) :s13:

I am quite happy with my poems broker (same one for 10+yrs), quite responsive to my occasional messages though I do not use poems that frequently. I'm sure your broker will be happy to talk to you and help you. No need to depend on anonymous internet posts for advice that may or may not be correct.

livingcharsiew 01-08-2020 08:44 PM

but he is relying on anonymous internet posts instead of his own broker


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