POEMS Review 2026: Is Phillip Securities Still Worth It Against the Apps?

POEMS is the broker many Singaporeans opened before Tiger, moomoo or Webull existed. Phillip Securities has been in business since 1975, and its POEMS platform reaches around 26 exchanges, plus unit trusts, bonds, options and futures that most app brokers skip.

In 2026 it is also cheaper than its reputation. The Cash Plus account charges US$0 commission on US stocks and 0.06–0.08% on SGX with no minimum. The other main account, Cash Management, charges S$25 minimum on larger SGX trades. Pick the wrong one and POEMS is expensive. Pick the right one and it competes with the apps.

I went through POEMS’s fee page (updated 20 October 2026), its own guide to the two account types, the SMART Park cash sweep and the current referral terms. I also set POEMS against Tiger Brokers and the zero-fee apps. Here is the complete, honest verdict.

→ Open a POEMS account with the DLCuration referral link

POEMS at a Glance

→ Claim the POEMS welcome coupons through the referral link

What Is POEMS?

POEMS is the online platform of Phillip Securities Pte. Ltd., part of the PhillipCapital group, which has operated in Singapore since 1975. It is licensed by the Monetary Authority of Singapore and still runs walk-in Phillip investor centres.

It was one of the first online trading platforms in Singapore, and it still shows its age in places. But it has kept up on price. In 2026 its Cash Plus account offers US$0 commission on US stocks, SGX trades with no minimum fee, waived foreign custody fees until the end of 2027 and a cash sweep called SMART Park.

Beyond shares, POEMS sells unit trusts with no sales charge, bonds, options, futures, forex and CFDs, and runs the Phillip Share Builders Plan for monthly investing from S$100. It accepts CPF and SRS money for eligible SGX shares, ETFs and unit trusts, according to The Money Bees’ October 2026 guide.

The honest caveat: POEMS has several account types with very different prices. The platform is powerful but busier and older-feeling than the newer apps.

POEMS Fees in 2026: The Full Breakdown

There is no account opening fee. The price of each trade depends on which account you hold. Every fee below is from the POEMS pricing page (modified 20 October 2026), before GST and exchange fees.

Cash Plus Account — Low Fees, Custodian Holding

Cash Plus rates depend on your total asset value at POEMS the previous day:

• SGX account maintenance fee: waived on Cash Plus.
• US and Hong Kong custody fees: waived until 31 December 2027.
• SGX dividend handling fee: 1% of the net dividend (minimum S$1, capped at S$50), waived for Privilege.
• You must fund trades before placing them. Shares are held by Phillip as custodian, not in your CDP account.

Best for regular investors who want low fees and are happy with custodian holding.

Cash Management Account — CDP-Linked, Higher Fees

• SGX: S$10 flat for trades up to S$3,500. Above that, 0.28% (minimum S$25), falling to 0.22% above S$50,000 and 0.18% above S$100,000.
• US stocks: 0.30%, minimum US$20.
• Hong Kong: 0.25%, minimum HK$100.
• SGX shares settle into your own CDP account. Contra trading and buy-now-pay-later on a trading limit are allowed.
• CPF and SRS trades can use your trading limit without prefunding.

Best for investors who want SGX shares in their own name and trade occasionally.

SMART Park — Cash Sweep

• Idle cash goes into money market funds, with no lock-in.
• 7-day yields were 0.99% (SGD) and 3.53% (USD) as of 5 October 2026, per our POEMS referral page.
• Not a bank deposit and not SDIC-insured.

Hidden Costs to Know About

Picking the wrong account. A S$5,000 SGX trade costs S$4 on Cash Plus Starter and S$25 on Cash Management. A US$2,000 US trade costs US$0 on Cash Plus and US$20 on Cash Management.

Dividend handling fees. Cash Plus charges 1% of each SGX cash dividend, up to S$50, below the Privilege tier. On a S$400 dividend, that is S$4. CDP-linked holdings get dividends paid straight to you.

Transfer-out fees. Moving SGX shares from POEMS to CDP costs S$20 per counter, and to another broker S$60 per counter. Transferring CDP shares in costs S$10 per counter.

FX spread. US trades are commission-free on Cash Plus, but converting SGD to USD carries an exchange-rate spread. For regular US investing, check the rate against mid-market.

Core Features: What POEMS Actually Does

Market and Product Range — The Strongest Feature

POEMS reaches around 26 exchanges from one login, plus unit trusts, bonds, options, futures, forex and CFDs. Its unit trust platform has no sales charge, switching fee or platform fee on Cash Plus. For investors who want a bond, an Asian market the apps do not cover and an SGX dividend portfolio in one account, few Singapore brokers come close.

This breadth is what you trade the newer apps’ polish for. If you only buy US tech stocks, you will not use most of it.

Two Account Types for Two Kinds of Investor

POEMS’s own guide to its accounts lays out the split. Cash Plus is the low-fee custodian account: you prefund, Phillip holds the shares, and you get the tiered rates above plus US$0 US trades. Cash Management links to your CDP account: shares sit in your own name, you can trade on a limit and pay the next day, and CPF and SRS trades do not need prefunding.

Many long-time investors hold both. They keep SGX dividend stocks in CDP through Cash Management and do active or US trading through Cash Plus.

CPF and SRS Investing

You can link a CPF Investment Account or SRS account and buy eligible SGX shares, ETFs and unit trusts. On Cash Management, the trade is paid from CPF or SRS the next working day. That makes POEMS one of the more flexible places for CPF-OA investing outside the bank brokers. Read our CPF OA invest-or-keep guide first, since the 2.5% CPF-OA floor is a high bar.

Share Builders Plan and Unit Trusts

The Phillip Share Builders Plan invests a fixed amount from S$100 a month into selected SGX shares and ETFs. Unit trusts on Cash Plus carry no sales charge, which matters, because bank branches still often charge several percent upfront on the same funds.

The Honest Assessment: What Holds Up and What Does Not

Longevity and regulation hold up. Phillip Securities has operated through every market cycle since 1975, is licensed by MAS and keeps client assets segregated. For investors who value an established Singapore institution with physical branches, that counts.

Cash Plus pricing is now competitive. No minimum on SGX, US$0 on US stocks and waived foreign custody fees put Cash Plus close to the app brokers on cost. That was not true a few years ago.

The platform feels dated. POEMS Mobile 3 and the web platform are capable but crowded. Beginners used to moomoo or Webull will need time to find their way, and some live price feeds need an opt-in.

The fee schedule is hard to read. Two main account types, three Cash Plus tiers, dividend handling fees and per-counter transfer charges make POEMS the hardest broker in this series to price at a glance.

Cash Management is expensive for active trading. S$25 minimum on SGX trades above S$3,500 and US$20 minimum on US trades are bank-broker prices. Use it for CDP and CPF, not for frequent trading.

POEMS vs Tiger Brokers vs Webull: Which Should You Choose?

POEMS figures from its pricing page (20 October 2026). Tiger and Webull from our Tiger Brokers review and Webull Singapore review.

Choose POEMS if you want SGX shares in your own CDP account, CPF or SRS investing, unit trusts and bonds, or access to markets beyond the big four — and you are comfortable with an older platform.

Choose Tiger if you want CPF investing in a modern app and do not need CDP holding or bonds.

Choose Webull if you mostly buy US stocks and want the simplest app. Our best brokers in Singapore guide compares the rest.

Who Should Use POEMS

POEMS is a strong fit if:

• You want SGX dividend shares held in your own CDP account.
• You invest CPF-OA or SRS money and want to trade without prefunding.
• You buy unit trusts and want to avoid sales charges.
• You want bonds, options, futures or markets beyond US, SG and HK.
• You value a long-established Singapore broker with walk-in branches.

POEMS is not a strong fit if:

• You are a beginner who wants a clean, simple app.
• You only buy US stocks and want the fewest steps.
• You want one simple fee table without account types and tiers.
• You trade SGX often but only have a Cash Management account.
• You dislike paying dividend handling fees on custodian holdings.

Is POEMS Worth It in 2026?

For investors who use its range, yes. A S$5,000 SGX trade on Cash Plus Starter costs S$4, a US trade costs US$0 in commission, and unit trusts carry no sales charge. Those prices sit close to the app brokers, and none of the apps offer POEMS’s mix of CDP holding, CPF, bonds and 26 exchanges.

For a beginner putting S$300 a month into US stocks, POEMS is more platform than you need. A simpler app will feel easier and cost about the same.

The test for your first month: open a Cash Plus account, opt into SMART Park, fund it and place one SGX and one US trade. Check the contract notes against the table above. If you also want CDP holding or CPF trading, add a Cash Management account later.

Sign-up offer: new POEMS clients who open an account through a referral link between 1 September and 1 November 2026, opt into SMART Park and fund at least S$3,000 for 30 days get S$50 in stock coupons. At S$10,000 it is S$200. Coupons must be used on a qualifying buy trade within 90 days. The POEMS referral guide explains each condition.

→ Open POEMS with the referral link

Frequently Asked Questions

Final Verdict

POEMS earns 3.9 out of 5 stars.

It earns its best marks on range and flexibility. Around 26 exchanges, unit trusts with no sales charge, bonds, CDP-linked holding and CPF and SRS investing from one broker that has been in Singapore since 1975 is a combination no app matches. Cash Plus now prices US and small SGX trades competitively.

The deductions come from complexity. Two account types with very different fees, three tiers, dividend handling fees and a dated platform make POEMS harder to use well than it should be.

Open POEMS if you want one serious, long-term broker for SGX, CPF and more. Start with Cash Plus, and add Cash Management only for CDP and CPF trades.

→ Start with POEMS through the referral link

Do you keep your SGX shares in CDP or with a custodian? Tell me in the comments.

Continue reading:

• How to Use the POEMS Referral Link
• Tiger Brokers Review 2026
• The Best Brokers in Singapore