POEMS vs Vickers

[subsistence]

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

 

[DevilPlate]

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)

 

[subsistence]

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?

 

[DevilPlate]

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.

 

[reddevil0728]

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.

Didn’t 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

 

[subsistence]

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

Didn’t 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

 

[reddevil0728]

Mind sharing the cheaper options for my consideration?

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

That’s SGX.

What’s your trading pattern?

Frequency? Amount? How many stocks etc?

 

[subsistence]

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..

 

[reddevil0728]

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?????

 

[subsistence]

~$10k annually

 

[reddevil0728]

~$10k annually

then you might be better off with like tiger/fsm1

 

[lilycll]

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.

 

[subsistence]

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..

 

[DevilPlate]

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.

 

[reddevil0728]

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?

 

[owenowenno]

FSM1- Can sell SG CDP shares and also shares bought via Cpf investment acct/Srs acct .Commission for selling is 0.08% min sgd $10

 

[todayisgood]

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..

Poems they directly calculate and debit/credit to your assigned account. Vickers you need to make sure you have the USD in your account. Even if you have more than enough in SGD, they won’t deduct.
Last when I used long ago, both charges $2/ticker/mth. If you have 2 trades per month or 6 in a quarter, they waive this charge. Maybe they revise this, I don’t know. But where did you read poem is flat $10.88?

 

[Andrew833]

Just to make it simple.
$10 comm basically are custodian acc, not link to CDP
$25 comm, all link to CDP

CDP mean you hold your shares in there and you own the right to vow, proxy etc. CDP is for long term investment.
Custodian acc mean shares you brought holding there, you got no right to vow. Custodian is for trading.

Btw FSM1 got lag and other problems.

 

[reddevil0728]

Just to make it simple.
$10 comm basically are custodian acc, not link to CDP
$25 comm, all link to CDP

CDP mean you hold your shares in there and you own the right to vow, proxy etc. CDP is for long term investment.
Custodian acc mean shares you brought holding there, you got no right to vow. Custodian is for trading.

Btw FSM1 got lag and other problems.

DBS Vickers cashup front $10 also CDP.

 

[Belle69]

POEMS is $6.88 if 'Premier' account.