Poems 2.0 Online Brokerage Review: What Are Its Best Features?
Poems 2.0 Online Brokerage Review: What Are Its Best Features?
ValueChampion Rating 
Pros
- Low rates and fees
- Variety of international markets
Cons
- Not the cheapest rates for small investments
Poems 2.0 offers low commission fees and minimum rates as well as access to over 26 exchanges worldwide. With a variety of stock options to trade, this online brokerage has strong features that ranks well against its competitors.
| Summary of Poems 2.0 |
|---|
| Access to 26 global exchanges & 12 international markets |
| Ability to trade CFDs, ETFs, & bonds |
| Below average commission fees, but sometimes pricey international min. fees |
| Currently running a year-long promotion where all trades made in Singapore are at 0.08% with no min. commission amount |
| Promotions: |
Table of Contents
- What Makes Poems 2.0 Stand Out to Investors
- Investment Opportunities at Poems 2.0
- Poems 2.0 Fees
- Poems 2.0 Investor Eligibility Requirements
What Makes Poems 2.0 Stand Out to Investors
Poems 2.0, owned by Philip Capital, is an online brokerage that offers customers a wide range of investing opportunities within 26 international exchanges. Moreover, their online trading platforms charge below average commission fees ranging from 0.08%-0.12% and a low minimum charge of S$8-S$10 per trade in Singapore. Since this online brokerage segments fees based on the amount you invest, those who would like to trade a large amount of money will benefit from some of the lowest fees available on the market. However, those looking to trade in the international markets may find lower minimum fees among other brokers.
Investment Opportunities at Poems 2.0
If you invest with Poems 2.0, you can opt for a Cash Management or a Cash Plus account. The Cash Management programme allows investors to consolidate their funds into one account, making it easy to keep track of investments while having access to trade all of the products listed below. Meanwhile, the Cash Plus account has three different tiers with costs associated depending on which package you procure (listed below). While investors who put the most money in their accounts will pay the least in fees, the rates for all of Poems' accounts are low.
Poems 2.0 also offers customers access to a variety of speciality products. These include multi-currency exchange, "Smart Park" excess funds management, securities borrowing and lending, and contracts for difference packages. Compared to other online platforms, moreover, Poems 2.0 has increased access to more Asian markets than its competitors, who typically prioritise access to Western markets. Below are comprehensive lists of both the investment products and international markets you can trade on with Poems 2.0.
- Stocks
- ETF – Exchange Traded Funds
- CFDs – Contracts for Differences
- CFD-DMA - CFD – Direct Market Access
- CFD-FX - CFD - Forex
- CFD-World Indices
- Reg FX / Bullion
- Mini FX / Bullion
- Futures
- UT – Unit Trust
- Bonds
- SBL – Securities Borrowing and Lending
- Malaysia
- US
- UK
- Japan
- Hong Kong
- Shanghai
- Shenzhen
- Thailand
- Australia
- Indonesia
- Turkey
- Germany
Poems 2.0 Fees
As a leading online brokerage, Poems 2.0 has cheaper fees than most online trading platforms, ranging from 0.08%-0.12%. To put that in perspective, the average commission fees one can expect to pay in Singapore is around 0.18%-0.28% per trade. However, small fees that other platforms do not typically charge, such as Poems' quarterly inactivity fees of S$16.05, could hike up the overall cost for inactive traders.
Currently the firm is holding a promotion until December 31st, 2022 where they will charge 0.08% with no minimum commission amount for trades in Singapore and their rate for trading in the US will be from USD$1.88 per trade. This promotion also waives the account maintenance fee and foreign shares custody charges, which makes Poems one of the cheapest online lenders at the moment. The table below outlines both the commission fees and minimum amount you must pay per trade otherwise.
| Market | Starter | Premier | Privileged |
|---|---|---|---|
| Deposit Amount | S$0-S$29,999 | S$30,000-S$249,999 | S$250,000 and above |
| Singapore | 0.08% with no minimum commission | ||
| US | USD $3.88 flat | USD $2.88 flat | USD $1.88 flat |
| Hong Kong | 0.08%, min HKD 30 | 0.06%, min HKD 20 | 0.05%, min HKD 15* |
| China | 0.15%; CHN 80 | 0.12%; CHN 60 | 0.08%; CHN 50 |
| Australia | 0.18%; AUD $25 | 0.15%; AUD $20 | 0.12%; AUD $15 |
| UK | 0.18%; £20 | 0.15%; £15 | 0.12%; £10 |
| Germany | 0.18%; €20 | 0.15%; €12 | 0.12%; €8 |
| Japan | 0.18%; JPY 1,500 | 0.15%; JPY 1,200 | 0.12%; JPY 1,000 |
| Malaysia | 0.18%; RM 50 | 0.15%; RM 40 | 0.12%; RM 30 |
Phillip Capital Investor Eligibility Requirements
To be eligible for a Poems 2.0 account, you must be 18 years or older and not a U.S. citizen. When you apply, you'll need to submit your identity card, bank account details, and a proof of address. Once your details are verified and your application is approved, you can begin trading within 2 days. For those looking for even cheaper rates, you may wish to consider other online trading platforms.
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Stephen Lee is a Senior Research Analyst at ValueChampion, specializing in insurance. He holds a Bachelor of Arts degree in International Studies from the University of Washington, and his prior work experience include risk management and underwriting for professional liability and specialty insurance at Victor Insurance. Additionally, Stephen is a former US Peace Corps Volunteer in Myanmar (serving between 2018-2020), where he continues to provide business development consulting services to HR companies in Asia Pacific.