POEMS Account Type

POEMS offers two primary types of trading accounts: Cash Plus Account and Cash Management Account.

• Cash Plus Account:
• Low-cost trading with low brokerage for over 11 markets.
• 0% unit trust sales charge and no custody fee.
• Allows trading up to 3.5 times of your cash deposit.
• Ideal for investors looking for leverage and lower trading costs.
• Cash Management Account:
• Links directly to the Central Depository (CDP) for easy settlement of trades.
• Also features a 0% unit trust sales charge.
• Requires full funding of purchases before trading.
• Suitable for those who prefer to manage their cash flow efficiently.

POEMS Broker Account Opening Process

The process to open a broker account with POEMS involves several steps:

• Choose Account Type:
• Select either a Cash Plus Account or a Cash Management Account based on your trading needs.
• Select Facilities:
• Choose from various facilities such as:
• Multi-currency facility for settling trades in 10 different currencies (SGD, USD, HKD, AUD, MYR, JPY, GBP, EUR, CNY, CAD).
• Excess funds management facility (Smart Park) to earn on idle funds.
• Securities borrowing and lending (SBL) facility for short selling.
• Provide Required Documents:
• For Singaporeans/PRs:
• Singapore identity card and bank account information.
• Supporting documents for different mailing addresses (e.g., utility bills).
• For Malaysians:
• Malaysian identity card and bank account information.
• Similar supporting documents as Singaporeans.
• For Foreigners:
• Passport with at least 6 months validity and bank account information.
• Supporting documents for residential address.
• Submit Application:
• Fill out the online application form or use SingPass for quicker processing.
• Complete the necessary forms, including tax forms and consent forms.
• Account Verification:
• Upon submission, your application will be processed. If all requirements are met, you can open an account instantly.
• Fund Your Account:
• After receiving confirmation, fund your account through PayNow or FAST to start trading within 15 minutes.

For more detailed information, visit POEMS Account Opening.