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Poems

4.7 / 10 Overall Score

Website: https://www.poems.com.sg/
Jurisdiction: Singapore
Operating Since: 5-10 years
Regulatory Status: N/A

Score Breakdown

License
Regulation
Business
Risk Control
Software

Company & Contact

Legal Name: Phillip Securities Pte Ltd
Phone: 65311555
Email: talktophillip@phillip.com.sg
Address: 250 North Bridge Road, #06-00, Raffles City Tower Singapore 179101

License Info: —

In-Depth Broker Review

What’s inside: Company overview, account types, and deposit & withdrawal guidance.

Company Profile
Account Types
Deposit & Withdrawal

Broker Details

# Poems Company: Overview and Corporate Profile

## Company Overview

Poems company, officially known as Phillip's Online Electronic Mart System, is an online trading platform that provides a comprehensive suite of financial services. Founded in 1996 by Phillip Securities, a member of the PhillipCapital group, Poems company has established itself as a leading online brokerage in Singapore. It offers access to over 40,000 financial products across 26 global exchanges, including stocks, bonds, exchange-traded funds (ETFs), and more.

The company is headquartered in Singapore and operates with a focus on providing a user-friendly trading experience for investors of all levels. Poems company is particularly known for its advanced trading platforms that cater to both retail and institutional investors.

## Corporate Development

Since its inception, Poems company has undergone significant growth and development. Initially focused solely on the Singapore market, the platform has expanded its offerings to include trading in multiple international markets, thereby enhancing its global reach.

Key milestones in the company's history include:
- Launching its online trading platform as Singapore's first online brokerage.
- Expanding its market coverage to include major exchanges in the United States, Europe, and various Asian markets.
- Continuous upgrades to its trading technology and platforms to improve user experience and functionality.

Poems company has received various awards and recognitions, highlighting its position as a top choice for retail investors in Singapore.

## Corporate Structure and Subsidiaries

Poems company operates as a division under Phillip Securities Pte Ltd, which is part of the PhillipCapital group. The organization maintains a well-defined corporate structure with key departments focused on trading, customer service, compliance, and technology.

While specific subsidiaries or branches are not detailed in the provided data, the company operates primarily through its main entity in Singapore, with a strong emphasis on providing a robust trading platform and customer support services.

## Regulation and Compliance

Poems company is regulated by the Monetary Authority of Singapore (MAS), ensuring that it adheres to stringent financial regulations and compliance standards. The firm operates under a licensing framework that emphasizes transparency and client protection.

Client funds are protected through segregation policies, where customer assets are kept in separate accounts from the company's operational funds. This practice helps safeguard clients' investments against potential financial difficulties faced by the brokerage.

## Global Presence and Market Coverage

The primary geographic market served by Poems company is Singapore, but it also provides access to international markets, including the United States, Hong Kong, and several European countries. The firm has established itself as a reliable platform for investors looking to trade across various global exchanges.

While specific local branches or representative offices outside Singapore are not mentioned, Poems company’s strategic partnerships and initiatives help enhance its market presence and service offerings.

## Financial and Operational Data

The financial and operational scale of Poems company is significant, with the platform facilitating over 40,000 financial products for a diverse client base. However, specific employee counts, transaction volumes, or financial data are not disclosed in the available information.

The company has made considerable investments in technology and infrastructure, continually upgrading its trading platforms to ensure they meet the evolving needs of its clients.

## Reputation and Industry Standing

Within the forex and financial community, Poems company is perceived as a reputable and credible brokerage. It has garnered positive reviews and ratings from users, reflecting its commitment to providing quality trading services.

The firm collaborates with major financial institutions and continues to enhance its offerings, reinforcing its standing in the competitive online brokerage landscape.

## Summary

In summary, Poems company, as a pioneer of online trading in Singapore, has established a solid regulatory background and a strong market presence. With its commitment to client protection, technological innovation, and a wide array of financial products, Poems company continues to play a significant role in the investment landscape, catering to both novice and experienced investors alike. The company’s operational integrity and adherence to regulatory standards position it as a trusted entity in the financial services industry.

Account Types

# Poems Account Types

Poems offers two main types of trading accounts for its users:

| Account Type | Minimum Deposit Requirement | Commission Model | Leverage Limits | Trading Instruments Available | Base Currencies Supported | Execution Model | Unique Features |
|----------------------|----------------------------|----------------------------------|-----------------|-------------------------------------------|---------------------------|------------------|-------------------------------------------------|
| Cash Plus Account | S$0 | Low-cost trading, no minimum commission for SGX stocks and ETFs | Up to 3.5 times cash deposit | Stocks, ETFs, CFDs, Forex, Bonds, Unit Trusts, and more | SGD, USD, HKD, AUD, MYR, JPY, GBP, EUR, CNY, CAD | Market Maker | Standby margin facility, multi-currency facility |
| Cash Management Account | S$0 | Higher fees than Cash Plus, fixed commissions for SGX stocks and ETFs | Based on account funds | Stocks, ETFs, CFDs, Forex, Bonds, Unit Trusts, and more | SGD, USD, HKD, AUD, MYR, JPY, GBP, EUR, CNY, CAD | Market Maker | Linked to Central Depository, allows contra trading |

# Poems Broker Account Opening Process

To open an account with Poems, follow these steps:

1. **Visit the Poems Registration Page**: Go to the official Poems website to start the account opening process.
 
2. **Choose Account Type**: Select either the Cash Plus Account or Cash Management Account based on your trading needs.

3. **Select Additional Facilities**: Choose optional facilities such as multi-currency trading or excess funds management.

4. **Complete the Online Application**: Fill out the online application form using Singpass for faster processing or manually enter your details.

5. **KYC/Identity Verification**: Provide necessary identification documents, including national ID, proof of address, and tax information.

6. **Submit Application**: After completing the form, submit your application and wait for email confirmation of approval.

7. **Fund Your Account**: Once approved, fund your account using available methods such as PayNow, bank transfer, or cheque.

8. **Start Trading**: After funding, you can begin trading on the Poems platform.

9. **Optional Demo Account**: If desired, you can also opt for a demo account to practice trading before committing real funds.

Deposit & Withdrawal

# Poems Deposit & Withdrawal Guide 2025: Methods, Limits, and Processing Times Explained

## Poems Minimum Deposit Explained

### Exact Minimum Deposit Amount
The minimum deposit required to open a POEMS account is **SGD 1,000** for both Cash Plus and Cash Management accounts.

### Account-Type Comparison
- **Cash Plus Account**: Minimum deposit of SGD 1,000, provides a standby margin facility of SGD 50,000.
- **Cash Management Account**: Also requires a minimum deposit of SGD 1,000, but does not offer a margin facility.

### Regional Differences
The minimum deposit may vary slightly based on the specific account services offered in different regions. However, the SGD 1,000 minimum is standard for Singapore.

### Advantages
1. **Access to Multiple Markets**: With a single deposit, investors can access over 40,000 financial products across multiple global exchanges.
2. **No Platform Fees**: POEMS does not charge platform or custody fees, making it cost-effective for traders.
3. **Professional Support**: Each account holder is assigned a trading representative for personalized service.
4. **Multi-Currency Facility**: Clients can maintain balances in various currencies, enhancing trading flexibility.

### Disadvantages
1. **Initial Capital Requirement**: The minimum deposit may be a barrier for new or small investors.
2. **Limited to Singapore**: While POEMS offers international trading, the minimum deposit structure is primarily designed for Singapore residents.
3. **Margin Limitations**: The Cash Management account does not allow for margin trading, which may limit leverage options for some traders.

### Competitor Comparison
Compared to other brokers like Saxo Capital Markets and DBS Vickers, which may require higher minimum deposits or charge platform fees, POEMS stands out for its lower entry barrier and lack of ongoing costs.

## Poems Deposit Methods Comprehensive Guide

### List of Deposit Methods
1. **Bank Transfer**
 - **Processing Time**: 1-2 working days.
 - **Fees**: Typically free, but may depend on the bank.
 - **Availability**: Widely available.
 - **Limits**: No specific limits; subject to the account balance.
 - **Pros**: Secure and reliable.
 - **Cons**: Slower processing time compared to other methods.

2. **Electronic Payments for Shares (EPS)**
 - **Processing Time**: Same day if submitted before 10 AM.
 - **Fees**: Usually free.
 - **Availability**: Available for Singapore residents.
 - **Limits**: Subject to the account balance.
 - **Pros**: Fast and convenient.
 - **Cons**: Limited to Singapore-based accounts.

3. **Telegraphic Transfers (TT)**
 - **Processing Time**: 1-3 working days.
 - **Fees**: Bank fees may apply.
 - **Availability**: Available for international clients.
 - **Limits**: No specific limits; subject to the account balance.
 - **Pros**: Suitable for larger deposits.
 - **Cons**: Potentially high fees depending on the bank.

4. **Credit/Debit Cards**
 - **Processing Time**: Instant.
 - **Fees**: May incur a processing fee.
 - **Availability**: Limited to certain cards.
 - **Limits**: Subject to the card issuer's limits.
 - **Pros**: Quick and easy.
 - **Cons**: Not all cards are accepted; fees may apply.

5. **Cash Deposits**
 - **Processing Time**: Instant.
 - **Fees**: May incur a handling fee.
 - **Availability**: Limited to specific branches.
 - **Limits**: Subject to branch policies.
 - **Pros**: Immediate fund availability.
 - **Cons**: Inconvenient for some users.

### Supported Currencies and Recommended Methods
POEMS primarily supports **SGD** for deposits. For international clients, **TT** is recommended for larger amounts, while **EPS** is best for local clients due to its speed and convenience.

## Poems Deposit Steps Explained

### Step-by-Step Deposit Procedure
1. **Login to Your POEMS Account**: Access your account via the POEMS web platform or mobile app.
2. **Navigate to the Deposit Section**: Locate the deposit option in your account management settings.
3. **Choose Your Deposit Method**: Select from available methods (bank transfer, EPS, etc.).
4. **Enter Deposit Amount**: Specify the amount you wish to deposit.
5. **Confirm Your Deposit**: Follow the prompts to complete your deposit.

### Mobile vs Web Differences
- **Mobile App**: Streamlined interface for quick deposits.
- **Web Platform**: More detailed options and information available.

### KYC Notes and Common Issues
- Ensure that your account is fully verified to avoid delays.
- Common issues include incorrect bank details or insufficient funds in the source account.

### Typical Fund Crediting Times
- **Bank Transfers**: 1-2 working days.
- **EPS**: Same day if submitted before 10 AM.
- **TT**: 1-3 working days.

## Poems Withdrawal Methods Overview

### Available Withdrawal Channels
1. **Bank Transfer**
 - **Processing Time**: 1-2 working days.
 - **Fees**: Typically free.
 - **Limits**: Subject to account balance.
 - **Pros**: Secure and reliable.
 - **Cons**: Slower compared to other methods.

2. **Cheque**
 - **Processing Time**: 3-5 working days.
 - **Fees**: Possible handling fee.
 - **Limits**: Subject to account balance.
 - **Pros**: Useful for larger sums.
 - **Cons**: Slower and may incur fees.

3. **Telegraphic Transfers (TT)**
 - **Processing Time**: 1-3 working days.
 - **Fees**: Bank fees may apply.
 - **Limits**: No specific limits; subject to the account balance.
 - **Pros**: Suitable for larger withdrawals.
 - **Cons**: Potentially high fees depending on the bank.

### Recommended Options by Cost and Speed
For quick access to funds, **EPS** is ideal for local clients, while **TT** is recommended for international withdrawals despite potential fees.

## Poems Withdrawal Steps Explained

### Step-by-Step Withdrawal Instructions
1. **Login to Your POEMS Account**: Access your account via the POEMS web platform or mobile app.
2. **Navigate to the Withdrawal Section**: Locate the withdrawal option in your account management settings.
3. **Select Your Withdrawal Method**: Choose from available methods (bank transfer, cheque, etc.).
4. **Enter Withdrawal Amount**: Specify the amount you wish to withdraw.
5. **Confirm Your Withdrawal**: Follow the prompts to complete your withdrawal.

### ID Verification Requirements
- Ensure your account is verified; you may need to provide identification for larger withdrawals.

### Expected Fund Arrival Time
- **Bank Transfers**: 1-2 working days.
- **Cheques**: 3-5 working days.
- **TT**: 1-3 working days.

### Typical Delay Reasons and Fixes
- Delays may occur due to incorrect bank details or processing times at the receiving bank. Always double-check your details before submitting a withdrawal request.

## FAQs – Poems Deposits & Withdrawals

### What is the minimum deposit for Poems?
The minimum deposit for a POEMS account is **SGD 1,000**.

### How long do withdrawals take?
Withdrawals typically take **1-2 working days** for bank transfers and **3-5 working days** for cheques.

### Are there fees for deposits or withdrawals?
Most deposit methods are free, but withdrawals via cheque may incur a handling fee.

### Can the same method be used for both?
Yes, methods such as bank transfers and telegraphic transfers can be used for both deposits and withdrawals.

### Are crypto or local methods supported?
Currently, POEMS does not support cryptocurrency deposits or withdrawals; local methods include bank transfers and EPS.

Disclaimer: This card is for informational purposes only and does not constitute investment advice. Always verify details with official disclosures and regulators.

Poems

Poems

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