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 https://www.poems.com.sg/open-an-account-tr/.
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.
- You need to be 21 years and above to open an account with us.
- Your account opening documents need to be certified by a public notary, commissioner of oaths, or judicial officer.
- You are neither a US citizen nor a bankrupt.
For documentation, please refer to https://www.poems.com.sg/open-an-account-tr/
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 FundSingapore.com
To view FAQs on trading settlements on Margin Account (M) , click here
To read the general Risk Disclosure Statement, click here.
Investments in REITS or bonds can have achievable yields of 5% p.a. in 2017. Coupled with SBL facilities, total potential returns of a high 7% p.a. can be achieved.
With financing, the potential returns can be increase two fold.
(eg. Based on prices at 22/05/17, holding Frasers L&I shares generated approx 5.36% p.a. dividend yield for shareholders. Successful on-lending of your Frasers L&I during this period could generate an indicative additional return of 2% p.a.)
To find out more, please contact us at firstname.lastname@example.org