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POEMS vs Vickers

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Old 03-01-2021, 11:48 AM   #1
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Exclamation POEMS vs Vickers

Considering opening either 1 of the above to trade/invest US + SGX.

POEMS charges a flat fee of USD 10.88 while DBS charges 0.18% with a min of $25. Does that mean if I buy USD1000 worth of shares, I'll actually be saving USD169.12 ([0.18*1000]- 10.88) if I buy US shares through POEMS?

Confused because seems too good to be true but it's what I understand.

Thanks

Last edited by subsistence; 03-01-2021 at 01:29 PM.. Reason: realized it's 0.0018 = 0.18% not 18% lol
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Old 03-01-2021, 12:14 PM   #2
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Repeat myself again haha.

I just open Tiger Brokers for trading US stocks (good for amounts 1-2k per trade and comes with premarket and after hour)

DBS Vickers for SGX stocks which you intend to buy and hold for long term so that it make sense to link up to your CDP.

If you are looking to trade Sgx stocks frequently, you can do that with Tiger Brokers too.

So you need both DBS Vickers and another one for frequent trading like Tiger/IBKR.

Forget about Poems if you are looking to open trading account. (I have Poems though)
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Old 03-01-2021, 12:15 PM   #3
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Repeat myself again haha.

I just open Tiger Brokers for trading US stocks (good for amounts 1-2k per trade and comes with premarket and after hour)

DBS Vickers for SGX stocks which you intend to buy and hold for long term so that it make sense to link up to your CDP.

If you are looking to trade Sgx stocks frequently, you can do that with Tiger Brokers too.

So you need both DBS Vickers and another one for frequent trading like Tiger/IBKR.

Forget about Poems if you are looking to open trading account. (I have Poems though)
Appreciate the heads up but didn't answer my question specifically

Am i saving much more with POEMS than vickers commission fee wise?
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Old 03-01-2021, 12:21 PM   #4
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Appreciate the heads up but didn't answer my question specifically

Am i saving much more with POEMS than vickers commission fee wise?
I didn't answer to your question because both are bad for trading US stocks of amount 1k.

Tiger only charge min $1.99usd per trade for US.

Most importantly, reviews from my friend that the UI for Tiger app is pretty good.

I will give a review once i started using them for a while.
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Old 03-01-2021, 12:28 PM   #5
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Considering opening either 1 of the above to trade/invest US + SGX.

POEMS charges a flat fee of USD 10.88 while DBS charges 0.18% with a min of $25. Does that mean if I buy USD1000 worth of shares, I'll actually be saving USD169.12 ([0.18*1000]- 10.88) if I buy US shares through POEMS?

Confused because seems too good to be true but it's what I understand.

Thanks
Vickers got cash up front for us so 0.15% min 18.

Didnít check how poems charge but if what you say is true and just comparing these 2 then yes.

But there are cheaper options out there. So really depends on your trading pattern
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Old 03-01-2021, 12:31 PM   #6
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Vickers got cash up front for us so 0.15% min 18.

Didnít check how poems charge but if what you say is true and just comparing these 2 then yes.

But there are cheaper options out there. So really depends on your trading pattern
Mind sharing the cheaper options for my consideration?

And i think vickers cash upfront is now 0.12, min 10
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Old 03-01-2021, 12:38 PM   #7
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Mind sharing the cheaper options for my consideration?

And i think vickers cash upfront is now 0.12, min 10
Thatís SGX.

Whatís your trading pattern?

Frequency? Amount? How many stocks etc?
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Old 03-01-2021, 12:45 PM   #8
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Passive investor..1 year maybe 3-5 times of buying diff counters then holding it long-term. Mostly US stocks, sg stocks for dividend in the future..
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Old 03-01-2021, 12:48 PM   #9
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Passive investor..1 year maybe 3-5 times of buying diff counters then holding it long-term. Mostly US stocks, sg stocks for dividend in the future..
Amount?????
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Old 03-01-2021, 12:50 PM   #10
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~$10k annually
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Old 03-01-2021, 01:10 PM   #11
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~$10k annually
then you might be better off with like tiger/fsm1
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Old 03-01-2021, 01:35 PM   #12
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Considering opening either 1 of the above to trade/invest US + SGX.

POEMS charges a flat fee of USD 10.88 while DBS charges 0.18% with a min of $25. Does that mean if I buy USD1000 worth of shares, I'll actually be saving USD169.12 ([0.18*1000]- 10.88) if I buy US shares through POEMS?

Confused because seems too good to be true but it's what I understand.

Thanks
DBSV comm is 0.18% or min USD25. USD1000 comm should be USD1.80 but will be min USD25. Saving will be USD25 - USD10.88 = USD14.12.
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Old 03-01-2021, 02:10 PM   #13
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DBSV comm is 0.18% or min USD25. USD1000 comm should be USD1.80 but will be min USD25. Saving will be USD25 - USD10.88 = USD14.12.
Realized that, and hence the edit comment

Also, DBSV has no maintenance fee except for a $2 monthly custody fee compared to the $16.05 quarterly fee for POEMS. Leaning towards DBSV now...

still a little apprehensive about Tiger broker being a relatively new broker with reputation, safety, etc. that only time can tell..
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Old 03-01-2021, 03:27 PM   #14
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Realized that, and hence the edit comment

Also, DBSV has no maintenance fee except for a $2 monthly custody fee compared to the $16.05 quarterly fee for POEMS. Leaning towards DBSV now...

still a little apprehensive about Tiger broker being a relatively new broker with reputation, safety, etc. that only time can tell..
Agree with Tiger brokers being new. Thats why i will only use it for US trading.

FYI: Tiger is using DBS/IBKR as custodian.
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Old 03-01-2021, 05:09 PM   #15
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Realized that, and hence the edit comment

Also, DBSV has no maintenance fee except for a $2 monthly custody fee compared to the $16.05 quarterly fee for POEMS. Leaning towards DBSV now...

still a little apprehensive about Tiger broker being a relatively new broker with reputation, safety, etc. that only time can tell..
How about FSM1?
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