Many people in Singapore have taken to online trading to manage their money.

This is evident given the explosion of online trading platforms available for retail investors here to choose from over the last few years.

Their popularity is due to their ease of use, instant access to global markets like never before, and freebies galore whenever investors sign up for a new platform to use the services.

Mobile online trading by homegrown outfit POEMS

Joining this boom is POEMS, which stands for Phillip Online Electronic Mart System, a pioneer in Singapore for online share trading.

Since its launch by Phillip Securities in 1996, it has evolved and has culminated in the POEMS Mobile 3 App.

New and seasoned investors can sign up

If you are getting your feet wet for the first time or have already tried investing on your own, you would be glad to know that POEMS is having a promotion in time for Singapore’s 59th National Day.

All it takes is to sign up for a new account, fund it, and make trades.

New customers can potentially get freebies valued at S$1,500 and more.

If you are clueless about how all of this works or what’s on offer, keep reading.

How to use POEMS

1. Let POEMS manage your idle cash

For investors who are either sitting out of the market for the time being, cannot stand volatility, or want to get attractive returns on cash, they can try the SMART Park facility on POEMS, which automatically invests and manages excess cash in their accounts on a discretionary basis.

SMART Park invests in one of the largest money market funds in Singapore – the 7-day annualised returns are 3.30 per cent per annum for Singapore dollars, and 5.25 per cent per annum for U.S. dollars, as of Aug. 5, 2024.

The best part is that investors can still enjoy SMART Park returns by keeping their cash in SMART Park even after the promotional period.

To make it sweeter, there is no sales charge or administrative fees and no lock-in period, and you can utilise the funds anytime when you want.

2. Invest for future retirement

For investors who are into long-term wealth-building and have an eye on the retirement ball, they can invest via the Supplementary Retirement Scheme (SRS) with POEMS.

This beats contributions to SRS accounts that currently only earn 0.05 per cent returns when kept in banks.

By participating in the SRS with POEMS, Singapore citizens and permanent residents can contribute up to S$15,300 annually (or S$35,700 annually for foreigners) to enjoy tax savings and tax-free gains.

This allows the investment in stocks, unit trusts and a myriad of investment vehicles to maximise returns, using an effective way to put money to work and potentially grow the retirement nest egg.

Moreover, there is the flexibility to withdraw funds anytime and enjoy a 50 per cent tax concession on withdrawals.

3. Open an account to trade

For hands-on investors who want to call the shots in the market, all they have to do is to open a Cash Plus Account with POEMS.

This is a flexible account with competitive trading conditions, such as zero platform fee, and U.S. and Hong Kong custody fees.

For those who are looking at the Singapore market, they can trade stocks listed on the Singapore Exchange (SGX) from 0.06 per cent commission with no minimum commission fees.

For example, when one invests in a Lion-Phillip S-REIT ETF with 100 lots at S$0.804 per lot, the commission costs only S$0.48 (100 x S$0.804 x 0.06 per cent).

For stocks on the U.S. market, the commission is S$1.88 flat, while commissions on Hong Kong stocks start from 0.05 per cent, or HK$15 (S$2.58) minimum.

There are no other hidden costs.

Investors don’t have to worry as there are no other hidden costs.

National Day promo for new investors

As part of the POEMS National Day promotion, new investors who sign up can enjoy a guaranteed return of 5.9 per cent per annum on new deposits for 30 days (minimum of S$20,000 capped at S$100,000), as well as welcome gifts valued at up to S$1,500 and more.

Upon opening an account with POEMS, the new investors can enjoy no commission charges for 90 days, as well as zero per cent sales charge on unit trusts they invest in.

Other services offered without charge include free live prices for SGX and U.S. Asian Hours, free live prices for U.S. (NASDAQ, NYSE, AMEX), Malaysia (BURSA), Thailand (SET), as well as U.S. options for non-professional traders (worth S$110).

New investors will receive complimentary SGX enhanced market depth access worth S$240 until Nov. 30, 2024, as well as exclusive People Of Phillip Non-Fungible Token (PoP NFT).

Tiered benefits

Just as traders are not made equal, benefits dished out will also be dependent on the volume and funding of accounts.

There are three tiers of benefits on offer for trading on POEMS.

Tier 1:

● Conditions:

○ Initial deposit of at least S$3,000 within 14 days of account opening with a holding period of 30 days.

○ Execute at least three buy trades of stocks/ ETFs/ unit trusts within 90 days of

account opening.

● Rewards:

○ Receive 3 fractional shares (worth S$60/ stock).

○ Stocks: McDonald’s, Netflix, and Sea Limited

Tier 2:

● Conditions:

○ Initial deposit of at least S$10,000 within 14 days of account opening with a holding period of 30 days.

○ Execute at least five buy trades of stocks/ ETFs/ unit trusts within 90 days of account opening.

● Rewards:

○ Receive five fractional shares (worth S$180: S$60 bundle from previous tier & add-on S$120/ two stocks).

○ Stocks: McDonald’s, Netflix, Sea Limited, Alphabet Inc Class A, Apple

Tier 3:

● Conditions:

○ Opt in to SMART Park and make new deposits of at least S$20,000 (capped at S$100,000) within 14 days of account opening with a holding period of 30 days (limited to the first 1,000 sign-ups).

● Rewards:

○ Receive 5.9 per cent p.a. guaranteed returns for a 30-day period.

For seasoned investors

For seasoned investors who know the ins and outs of derivative-trading and are familiar with contract for differences (CFD) trading, they can look forward to the CFD promotion.

Tier 1:

● Conditions: Cash Plus Account with CFD opt-ed in.

● Rewards: Receive Palantir share CFD.

Tier 2:

● Conditions: Trade S$1.5 million in CFD contract value.

● Rewards: Receive TSMC share CFD.

Tier 3:

● Conditions: Trade S$4.5 million in CFD contract value (Limited to the first 500 customers).

● Rewards: Receive Microsoft share CFD.

How to start

To get on board the POEMS platform for the first time and benefit from the latest promotion, you can sign up here.

If you have queries about this offer, you can check out the frequently asked questions here.

Only those who are new to Phillip Securities and have opened a Cash Plus Account within the promotion period are eligible.

This advertisement is intended for general information only and does not constitute a recommendation, an offer or solicitation to buy or sell any investment products mentioned herein. It does not have any regard to your specific investment objectives, financial situation or any of your particular needs.

Investments are subject to investment risks including the possible loss of the principal amount invested. The value of any investments and the income from them may fall as well as rise. The risk of loss in leveraged trading can be substantial and you could lose in excess of your initial funds.

You may wish to obtain advice from a financial adviser before investing in any investment products mentioned herein. In the event that you choose not to obtain advice from a financial adviser, you should consider whether the investment product is suitable for you. You are advised to read the trading account Terms & Conditions and Risk Disclosure Statement (available online at www.poems.com.sg) before trading in investment products. This advertisement has not been reviewed by the Monetary Authority of Singapore.

Top photos via Unsplash & Philip Securities Pte. Ltd.

This sponsored content, which has provided the author with another trading platform to choose from, was brought to you by POEMS by PhilipCapital.