- You can hold either a PhillipCapital POEMS Custodian Cash Plus account or link your own CDP (Central Depository) Singapore account to your PhillipCapital POEMS Cash Management account.
- To create and activate a CDP (Central Depository) Singapore account, you have to first apply for a CDP account with the SGX Singapore website via an online form or via SingPass MyInfo if you are a Singapore citizen or PR (Permanent Resident). You will then receive an email confirming your application and requesting that you activate your account. Once you have verified your linked email account and received an email from the CDP notifying you of your application success, you are set to go. Alternatively, you can have your preferred bank or broker do up the CDP application for you at no cost usually.
- A Limit Order helps you purchase or sell a stock at a price that you have in mind and it comes in two forms: buy Limit Order and sell Limit Order. A buy Limit Order allows you to purchase shares at a preferred price (that is lower than the current market’s offering) and can only be executed at the limit price you have set in place, or lower. A sell Limit Order, on the other hand, allows you to sell your shares at a preferred price (that is higher than the market’s current offering) and will only be executed at the limit price you have set, or higher. Even though Limit Orders do not guarantee execution, it protects you from paying beyond your pre-determined price for a stock.
- Phillip Capital’s general enquiries hotline in Singapore is +65 6531 1555 and operates from 8:45 a.m. to 5:30 p.m. on weekdays. Alternatively, you may get customer support via the in-app chat function, Phillip Chatbot, which is located at the bottom right of the POEMS website. To retrieve your Trading Representative’s contact information through Phillip Chatbot, simply type in “remiser details”.
- To open a CDP account online, visit the SGX website, click on “Securities”, followed by “Retail Investor”, and “Apply for CDP Securities Account”. For Singaporeans or Permanent Residents (PRs), you will be able to complete your application with SingPass MyInfo. If you are a foreigner, fill in the online form and upload all necessary supporting documents. When you are done, an application confirmation email will be sent to you.
- To open a trading account in Singapore, you will need to first apply for a CDP (Central Depository) account online via the SGX (Singapore Exchange) website. A CDP account will allow you to buy and legally own shares and securities. If your brokerage firm of choice allows, you will be able to link your CDP account to your trading account to legally own and hold the securities you have purchased. If you are planning to make use of your brokerage firm’s custodian account, you may need a CDP account when you eventually close your trading account and need to transfer your securities out. Once you have a CDP account, visit your brokerage firm of choice’s website and you will be able to seamlessly apply for a trading account online. Some firms may require you to make an appointment to sign formal application forms in the presence of a witnessing officer due to SGX regulations.
- Yes, you will be able to open a trading account online via your brokerage firm’s website or portal with SingPass MyInfo if you are a Singapore citizen or Permanent Resident (PR). If you are a foreigner, you will be able to open for a trading account in Singapore online via the firms’ online application forms.
- To open a POEMS account, visit the Phillip Capital website and click on “Open An Account” to initiate the application process. Choose your account type, trading facility, and you will be prompted to choose to complete your application with SingPass MyInfo for Singaporeans and PRs or an online form for foreigners.
- If you are using POEMS 2.0 trading platform, you can submit a trade by first launching your POEMS 2.0 platform. Right click on your counter of choice, a sub-menu will pop up. Select “Trade” and the trade widget will open. When you see the trade widget, fill in your order type, trade action, price, quantity, and other details before you click submit. Once your order has been placed, you will then be able to view it under the “Order Status” tab.
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