POEMS is the trading platform run by Phillip Securities, one of the oldest brokers in Singapore, and the name most local investors meet first when they open a CDP-linked account. The pull in 2026 is sharper than it used to be: SGX shares from 0.06% with no minimum commission, US shares at zero commission for life on the Cash Plus account, and access to roughly 26 exchanges from one login, all figures from POEMS' own pricing pages as of June 2026. It is regulated here by MAS, and for many people it is the cheapest legitimate way to invest CPF and SRS money into local stocks and exchange-traded funds. The trade-off is that POEMS now runs three different account types with very different fee tables, and picking the wrong one can quietly cost you. This guide breaks down what you really pay on each account, where the small charges hide, and who is genuinely better off elsewhere.
POEMS stands for Phillip's Online Electronic Mart System. It is the retail trading platform of Phillip Securities, part of the PhillipCapital group, which has operated in Singapore since 1975 and is licensed by the Monetary Authority of Singapore. Through it you can buy Singapore shares, real estate investment trusts, exchange-traded funds, unit trusts, bonds, foreign stocks, options, futures and forex from one account.
Two things keep POEMS on most local shortlists. The first is the link to the Central Depository. A POEMS Cash Management account holds your SGX shares directly in your own CDP account in your name, which is the setup many Singaporeans prefer over a broker holding shares in a pooled nominee account. If you are still hazy on that distinction, our explainer on the Central Depository (CDP) is worth two minutes before you choose an account type.
The second is CPF and SRS investing. POEMS lets you put CPF Ordinary Account and SRS money into eligible local shares and ETFs at some of the lowest rates in the market, which is something cheaper foreign brokers like Interactive Brokers simply cannot do. That single feature is why a lot of people keep a POEMS account even after opening something cheaper for US trades.
This is where most confusion starts. POEMS no longer has one rate card. It runs a traditional Cash account, a Cash Management account and a Cash Plus account, and the same trade can cost very different amounts depending on which one you use.
The Cash account is the classic prefunded, CDP-linked account. You pay before you buy and shares settle straight into your CDP. Its standard online SGX rate is 0.28% of contract value or S$25, whichever is higher, so it is the most expensive of the three for small trades and is really only sensible for people who want CDP custody and rarely trade.
The Cash Management account is also CDP-linked but adds contra trading and tiered pricing based on your total asset value, with no margin financing. The Cash Plus account is the low-cost custodian account: shares are held by Phillip in a custodian arrangement rather than in your own CDP, in exchange for the cheapest commissions, zero US commission and up to 5x leverage.
The headline numbers below are the online rates from POEMS' pricing pages as of June 2026. All are before the standard SGX clearing and trading fees and prevailing GST, and POEMS can change them at any time, so treat them as a starting point and confirm on the live page before you commit.
| Account / tier | SGX shares | US shares | Hong Kong shares |
|---|---|---|---|
| Cash account (standard) | 0.28%, min S$25 | 0.30%, min US$20 | 0.25%, min HKD 100 |
| Cash Plus Starter (under S$30k) | 0.08%, no minimum | 0% (lifetime) | 0.08%, min HKD 30 |
| Cash Plus Premier (S$30k-249k) | 0.07%, no minimum | 0% (lifetime) | 0.06%, min HKD 20 |
| Cash Plus Privilege (S$250k+) | 0.06%, no minimum | 0% (lifetime) | 0.05%, min HKD 15 |
| Cash Management Starter | 0.07%, no minimum | 0% | 0.06%, min HKD 20 |
| Cash Management Privilege | 0.06%, no minimum | 0% | 0.05%, min HKD 15 |
Cash Plus and Cash Management tiers are set by your total asset value with Phillip, not by trade size, so a larger relationship unlocks the cheaper rate across the board. The jump from the old Cash account to either tiered account is the single biggest fee decision you make on POEMS.
Zero-commission marketing on US trades is real on Cash Plus, but a few smaller charges decide your true cost, and they differ by account. Read these before you assume POEMS is free.
On every SGX trade you also pay the exchange's own clearing and trading fees on top of POEMS' commission, the same charges every Singapore broker passes through, so they are not unique to POEMS but they do add up on large orders. Compare that to a flat-FX broker in our Interactive Brokers Singapore guide if low all-in cost is your priority.
This is where POEMS earns its keep for long-term, hands-off investors. You can invest CPF Ordinary Account money and SRS money into eligible SGX-listed shares, ETFs and unit trusts through POEMS, which most low-cost foreign brokers cannot offer. If you want the bigger picture on putting idle money to work, our how to start investing in Singapore walkthrough sets out the order of operations.
For drip-feeding a fixed amount each month, the Phillip Share Builders Plan lets you invest from S$100 a month into SGX-listed stocks, REITs and ETFs using dollar-cost averaging, with a handling fee tied to portfolio value (around S$1 a month per S$1,000 held, as of June 2026). It is a clean way to build a position in a local index ETF over years without timing the market.
Sales charges on unit trusts bought through the Cash Plus and Cash Management accounts are 0%, which removes the upfront load that traditional fund channels still charge. If you would rather a robo do the rebalancing for you, weigh that against the platforms in our robo-advisor versus DIY ETF comparison.
Opening is done online and is fastest if you bank with a local bank that supports Myinfo, which pulls your details and shortens the form.
You will choose the account type at sign-up, so decide between Cash Plus, Cash Management or Cash before you start, because switching later means a fresh application.
POEMS is a strong default for the Singapore investor whose priority is local-market access, CDP custody and CPF or SRS investing, and the Cash Plus account has narrowed the cost gap with foreign brokers on plain SGX and US trades.
It is less compelling if you only ever trade US stocks and want the rock-bottom all-in cost, or if you trade many global markets and care about FX conversion spreads, where a specialist low-cost broker can still beat it. Many local investors land on a sensible split: POEMS for CPF, SRS and CDP-held SGX positions, and a cheaper broker for active US trading.
POEMS has no platform subscription fee, and US trades on the Cash Plus account carry zero commission for life as of June 2026. You still pay SGX clearing and trading fees, GST, possible dividend handling charges, and a S$15 quarterly maintenance fee on Cash Plus if you do not trade at least once a quarter.
Cash Plus is a custodian account with the lowest commissions, free US trades and up to 5x leverage, but Phillip holds your shares rather than your CDP. Cash Management is CDP-linked so shares sit in your own name, supports contra trading, and has no maintenance fee, but its SGX commissions start slightly higher.
Yes. POEMS lets you invest CPF Ordinary Account and SRS funds into eligible SGX-listed shares, ETFs and unit trusts after you link your CPF Investment Account or SRS account, at some of the lowest rates available locally. This is a key reason many investors keep POEMS even after opening a cheaper broker for US trades.
Phillip Securities is licensed and regulated by the Monetary Authority of Singapore. On CDP-linked accounts your SGX shares are held in your own CDP account in your name. On the Cash Plus custodian account, shares are held by Phillip on your behalf, which is standard for low-cost custodian accounts but means they are not in your personal CDP.
This is general financial information for Singapore, not personal financial advice. Figures change — verify current rates against the official sources above before acting. See our full disclaimer.