Margin Trading

Why Us

Up to 71% Financing Across 11 International Markets
Competitive Commission Rates at 0.18% for SG, US and HK M arket
Multi-currency facility:
Financing available:

Why trade with Margin

Make Larger Investments with the Same Amount of Capital

With leverage, you will have access to a larger amount of investment capital which can potentially lead to higher returns.

Scenario 1 | Trade with Cash

Assume you have S$10,000 cash and purchased 10,000 “71% Financing” shares at S$1.00. You sold S$10,000 “71% Financing” shares at S$1.20.

Your gross gain is S$2,000^

Percentage Gain: 20%

Scenario 2 | Trade with Margin

Assume you have S$10,000 cash (up to 3.5 times leverage) and purchase 35,000 “71% Financing” shares at S$1.00. You sold 35,000 “71% Financing” shares at S$1.20.

Your gross gain is S$7,000^

Percentage Gain: 70%

At the same time, with leverage, you may experience higher loss.

Scenario 1 | Trade with Cash

Assume you have S$10,000 cash and purchased 10,000 “71% Financing” shares at S$1.00. You sold 10,000 “71% Financing” shares at S$0.80.

Your gross loss is S$2,000^

Percentage Loss: 20%

Scenario 2 | Trade with Margin

Assume you have S$10,000 cash (up to 3.5 times leverage) and purchase 35,000 “71% Financing” shares at S$1.00. You sold 10,000 “71% Financing” shares at S$0.80.

Your gross loss is S$7,000^

Percentage Loss: 70%

^Returns shown here are for illustration purposes only. Returns may vary and do not take into consideration any transaction and financing costs.

Positive Carry

Based on the dividend yield of 6% p.a. and 3.28%* financing charge, Initial Investment: S$50,000,

Total purchased based on margin multiplier:
S$50,000 x 3.5

3.5 x

Estimated annual yield: S$175,000 x 6% = S$10,500
Estimated cost: (S$175,000-S$50,000) x 3.28% = S$4,100
Net annual yield: S$10,500 – S$4,100 = S$6,400

Return On Equity (ROE)#: S$6,400/ S$50,000 = 12.8%

#ROE calculation above does not take into account potential capital gain or loss.
#ROE shown here is for illustration purpose only. All calculations have been rounded to one decimal place. Dividends may vary; computations do not take into consideration any transaction costs, dividend handling fee, time value of money & such other costs customers may incur. Financing charges shown here are for illustration purpose only, actual charges may vary based on the compounding of financing charges. Phillip Securities Pte Ltd accepts no liability whatsoever from customers relying on any calculations provided here. Customers may incur capital losses which may be magnified as a result of leverage.

Short-term Borrowing

The image above shows the price of a stock example for illustration

With margin facility, you have the option to hold the shares until the end of the uptrend.

For example, if 1,000 shares were bought at S$22.00, the financing cost is just S$1.80 per day (1,000 shares at S$22 x 2.99%/365).

Traded Currency Financing

Margin (M) Account offers financing in 9 Different Currencies namely SGD, USD, HKD, JPY, AUD, GBP, CAD, EUR & CNY.

Customers can pledge their local Singapore shares & take financing in the traded currency of foreign markets where applicable.

By taking financing in traded currency, customers can potentially minimize their forex risk.

Find out more about

Bond Financing

Why Margin Account

Key Information

New Infosheet (Effective from 28 January 2022)
Margin Account
Financing Quantum As low as 28.57% owner’s equity (71.43% financing)
Margin Call Period 3 Market Days
Collateral Deposit Before trading
Currencies Financing Available In SGD, USD, HKD, JPY, AUD, GBP, EUR, CAD, CNY
Markets Available Singapore (SGX)
United States (NASDAQ / NYSE / AMEX)
Hong Kong (HKEX)
China A Shares (SH-HK)
Malaysia (BURSA)
Canada (TSX)
Germany (FWB)
Japan (TSE)
United Kingdom (LSE)
Australia (ASX)
Thailand (SET)

More facilities available with Margin (M) Account

trading mode icon

Trading Mode

Trade with POEMS online, POEMS Pro, POEMS Mobile and/ or broker assisted

Excess Funds Facility

Excess Funds Facility

Earn on your idle funds.
1 Year Rolling Return:
SGD 0.8380% p.a.* | USD 1.0168% p.a.*
Return (1 month) Annualised:
SGD 0.8380% p.a.# | USD 1.0168% p.a.#

Rates updated as of
*Based on 1-year rolling return, NAV/NAV prices.
#Based on the average rate of annualised returns over the last rolling one month.
Past performance is not necessarily indicative of future performance. View disclaimer

Multi Currency Facility

Multi Currency Facility


Securities Lending(SBL)

Securities Lending(SBL)

Custodise your shares and earn up to 4% p.a.



Up to 20 times leverage with Contracts for Difference (CFD) and Margin Financing

Ready to let your assets work harder for you?

Steps to open Margin (M) Account for existing account holder

1 Login to your POEMS Account

2 Click on ‘Acct Mgmt’ tab

3 On the left panel, select ‘Online Forms’

4 Click on ‘Margin Account Opening’ sub-tab

5 Fill up the form accordingly and click ‘Submit’

Don’t have an account?

Alternatively, visit any of our Phillip Investor Centres ot contact your trading representives.

Frequently Asked Questions

Margin Account

Those who wish to open a Margin (M) Account must be above the age of 21 years old and must not be blacklisted or found to be delinquent by the Singapore Exchange (SGX) or other securities firms.
Yes.  Please visit Phillip Investor Centre or contact Trading Representatives.
Yes.  Please visit Phillip Investor Centre or contact Trading Representatives.
No. You would have to transfer the shares into your Margin (M) Account before you can sell them.
No. You would have to transfer the shares into your Margin (M) Account before you can sell them.
You can transfer the shares by signing the relevant forms. Please contact your trading representative for a copy of the form.
It will take around two working days for the shares to be transferred into your Margin (M) Account.
Your Margin (M) Account will be ready for trading within three working days upon receiving your completed application if all the requirements are met.

It takes only one day to open an account if all the required documents are submitted and no AML records are found. You can open an account via

If you are an existing account holder, please apply for the Margin Account via POEMS > Acct Mgmt > Stocks > online forms > Margin Account Opening. The account should be opened by the next working day.

Yes. Custodian (C) Account can be converted into a Margin (M) Account by signing the relevant forms. Please contact your trading representative for a copy of the form.
  1. You need to be 21 years and above to open an account with us.
  2. Your account opening documents need to be certified by a public notary, commissioner of oaths, or judicial officer.
  3. You are neither a US citizen nor a bankrupt.

For documentation, please refer to

To request for a higher credit limit, the customer is required to contact his/her Trading Representative. The Trading Representative will submit a request to the company for review. This generally takes 3-5 working days for processing. Requests for a substantially higher limit may take longer for review. Upon approval of the new credit limit, the customer will receive a notification from the company.

For Cash Management, Custodian, Prepaid, Margin, and Cashplus accounts:

From 26 October 2020, all new accounts will be auto enrolled with this feature. An auto currency conversion process will be performed  at 7.15pm based on prevailing rates to offset any currency in debit balance by utilizing currencies in credit balance according to currency hierarchy set up in our system. The hierarchy of currencies to be utilized for offsetting in descending order: SGD, USD, HKD, CNY, JPY, AUD, GBP, EUR, CAD, & MYR.

To opt in/out from this facility, please contact your Trading Representative.


For trading accounts that are not opted in for the above feature, clients are required to take the necessary steps to either transfer money into the trading account or submit a currency conversion request to avoid being charged debit interest.

Opt in to Excess Funds Management facility that manages your idle cash into Phillip Money Market Funds discretionary upon opt in. Let SMART help you maximise your investment opportunities.

  • Fast and simple online transfer & withdrawal
  • No sales charge or administrative fees
  • No lock-in period
  • The largest^ retail SGD Money Market Fund in the market

^Based on Total Net Assets (TNA) figures reflected in

To view FAQs on trading settlements on Margin Account (M) , click here

To read the general Risk Disclosure Statement, click here.

Margin Facility

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    Phillip Capital Management (S) Ltd (Co. Reg. No. 199905233W)  
    250 North Bridge Road #06-00, Raffles City Tower ,Singapore 179101 
    Tel: (65) 6230 8133 Fax: (65) 65383066