This POEMS review looks at the long-established local option. As at November 2026, POEMS’ Cash Plus account charges 0.08% on online SGX trades with no minimum commission, and lists US stock commission at zero. Its CDP-linked Cash Management account charges S$10 for SGX orders up to S$3,500. POEMS is run by Phillip Securities Pte Ltd, a Capital Markets Services licence holder.
Investing can lose money. Shares and unit trusts can fall in value, and you may not get back what you invested. This review explains the platform only.
What POEMS Is
POEMS is the online trading platform of Phillip Securities, a long-established Singapore stockbroker that was operating well before the app brokers arrived.
It covers shares and ETFs across what it describes as 26 markets, unit trusts, bonds, an SRS account service and a money market facility for idle cash. It also offers CFDs, futures, forex, margin and securities lending.
Two accounts matter for most people:
- Cash Plus: a custody account with low online rates. Rates depend on your total assets in the account.
- Cash Management: links to your CDP account and allows contra trading. Commissions are higher.
POEMS also has trading representatives you can deal with, which the newer apps do not.
MAS Licence and How Your Assets Are Held
The MAS Financial Institutions Directory lists Phillip Securities Pte Ltd as a Capital Markets Services licensee. The licence covers fund management, dealing in securities, collective investment schemes and derivatives, product financing, custodial services and advising on corporate finance. It is also an exempt financial adviser and exempt insurance broker.
How shares are held depends on the account. In Cash Plus, Phillip Securities holds them in custody. In the Cash Management account, SGX shares you buy settle into your own CDP account.
In neither case are investments SDIC-insured. Deposit insurance applies to eligible bank deposits.
POEMS Review of Fees (as at November 2026)
All figures are online rates from POEMS’ pricing page. GST of 9% and SGX fees are added.
| Item | Cash Plus (custody) | Cash Management (CDP) |
|---|---|---|
| SGX shares, assets under S$30,000 | 0.08%, no minimum | S$10 flat up to S$3,500 |
| SGX shares, S$30,000 to S$249,999 | 0.07%, no minimum | 0.28%, min S$25 (S$3,500 to S$50,000) |
| SGX shares, S$250,000 and above | 0.06%, no minimum | 0.18% to 0.22%, min S$25 (above S$50,000) |
| US shares | 0 commission | 0.30%, min US$20 |
| Hong Kong shares | 0.05% to 0.08%, min HK$15 to HK$30 | 0.25%, min HK$100 |
| Unit trusts | $0 sales charge, switching and platform fee | Same |
| SGX account maintenance fee | S$15 a quarter unless you trade once a quarter (waived for top tier) | Not applicable |
| Foreign share custody | US and HK waived until 31 December 2027 | S$2 a counter a month unless you trade enough |
| Dividend handling (SGX) | 1% of net dividend, min S$1, max S$50 (waived for top tier) | Same 1% charge |
Read the table with three caveats:
- In the Cash Management column, rate bands are by contract value. In the Cash Plus column, they are by the total assets in your account.
- The S$10 flat rate is listed as applying after 5 October 2026.
- The US zero commission covers regular, pre-market and post-market sessions. Shares under US$1 are excluded.
Moving SGX shares from a Phillip custody account to CDP costs S$20 a counter. Moving them to another broker costs S$60 a counter. Both are before GST.
We could not verify a currency conversion rate or CPF and SRS trading commissions from the pricing page. Ask POEMS or check its account infosheets.
The short version: Cash Plus is cheap for small SGX orders because it has no minimum commission, but it charges for dividends and for not trading. The CDP route costs S$10 or more a trade.
What a Year of Monthly Buying Costs
Our example: S$2,000 of an SGX-listed share and US$2,000 of a US-listed ETF, bought monthly for a year by someone with under S$30,000 in the account. Fees only. This is not a forecast of returns.
SGX order, Cash Plus: 0.08% of S$2,000 is S$1.60. SGX trading and clearing fees add S$0.80. With GST, about S$2.62 an order, or roughly S$31.40 a year.
SGX order, Cash Management: S$10 flat plus S$0.80 in SGX fees, plus GST. About S$11.77 an order, or roughly S$141 a year.
US order, Cash Plus: zero commission. Regulatory fees and the cost of converting to US dollars are extra, and we could not confirm those from the pricing page.
US order, Cash Management: 0.30% of US$2,000 is US$6, so the US$20 minimum applies. With GST, US$21.80 an order, or about US$262 a year.
Dividends: suppose your SGX shares pay S$600 in dividends in a year, in four payments of S$150. At 1%, each payment is charged S$1.50, so S$6 a year before GST. Small payments hit the S$1 minimum, which is a higher percentage.
Funding, CPF and SRS
POEMS accounts settle in 10 currencies, including Singapore dollars, and are funded by bank transfer.
POEMS lists an SRS account service, and its client menu lets you update CPF and SRS account numbers for trading. We could not confirm the commission for CPF or SRS trades. Before using retirement money, read our CPF Investment Scheme explainer and SRS guide, and weigh the 2.5% your Ordinary Account already earns using the CPF OA vs invest calculator.
Drawbacks and Alternatives
- Fees for holding, not only for trading. The dividend handling charge and the S$15 quarterly fee for inactive Cash Plus accounts do not exist at several app brokers.
- CDP access is expensive. S$10 on a S$1,000 order is 1% before you start.
- The fee schedule is long. Rates differ by account type, asset tier and contract size, so it takes effort to know your real cost.
- Leverage is offered. Cash Plus allows trading at up to five times your cash deposit, and POEMS offers CFDs, margin and contra trading. Borrowed exposure magnifies losses and can cost more than you deposited. None of it is necessary for ordinary investing.
Who POEMS does not suit
It is not ideal for a buy-and-hold investor who wants to hold a few SGX dividend payers and never trade, since handling and maintenance fees add up. It is also not the cheapest route to CDP for small orders.
Alternatives to compare
- moomoo lists no dividend or corporate action charge of its own on Singapore stocks. It and Tiger Brokers also offer CDP-linked accounts.
- Interactive Brokers charges no custody fee and publishes its FX cost.
- Endowus is a fund platform that supports CPF and SRS.
See our guide to the best investment platforms in Singapore for a side-by-side view.
What To Do Next
- Check Phillip Securities in the MAS Financial Institutions Directory.
- Decide whether you want CDP or custody, then read the infosheet for that account.
- Add up dividend handling and maintenance fees for the way you actually invest.
