Please be informed that starting from 27 Sep 2024, Fri, CFD finance charges on POEMS will be realised daily and reflected in your CFD transaction history (Login to POEMS > CFD > Transaction History).
Kindly note that any finance charges incurred over the weekend will be realised at the end of the coming Monday.
Additionally, any unrealised CFD finance charges accrued till 26 Sep 2024, Thu, on POEMS will be realised on 27 Sep 2024, Fri.
Dear Clients,
Please be advised that the following fees will be applied when making USD withdrawals from a POEMS CFD Account effective from 1st July 2024:
-USD Cheque Issuance Fee: SGD5 (subject to GST)
-Cheque Returned/Rejected Handling Fee: SGD50 (subject to GST)
To avoid these fees, we strongly encourage you to explore our paperless alternatives.
Kindly also note that clients with DBS Multi-Currency bank accounts as their EPS/GIRO linked account can now withdraw AUD, EURO, GBP, HKD, and USD cash balances from their trading accounts into their DBS MCA.
Clients are to ensure that their DBS multi-currency ledger supports the currency to avoid forced currency conversion at the bank's bond rate, which is IRREVERSIBLE.
In order to answer more in-bound calls into the CFD Operation team, please be informed that CFD Operations will not be calling Trading Reps for the settlement of CFD Margin Call effective from Monday, 30th March 2020.
However, Trading Reps will still be receiving email with the subject header “CFD – Margin Call report” as per usual. Please be mindful that partial settlement / no settlement of margin call will result in force-selling on the stipulated time without any further notice.
For any margin call enquiries / settlement, please direct your emails to CFDOPS@phillip.com.sg.
Force-Closure of Short Sell Positions:
When you are short-selling, you are at risk of having your position forced-closed if our borrowed shares are recalled by the lender. For more information, please refer to our Terms and Conditions, Section 7 “Market Disruption, Suspension of Trading, Delisting of Underlying Financial Instrument or Closure of Hedge Position”.
Maximum Order Size:
Do note that any limit order for Equities CFDs submitted at prevailing market bid/ask prices exceeding the following limit(s) might be rejected or delayed subject to our approval:
Shares CFD (whichever has a lower contract value)
1) Maximum quantity per order: 500,000 shares
2) Maximum contract value per order: S$300,000
DMA CFD (whichever has a lower contract value)
1) Maximum quantity per order: 500,000 shares
2) Maximum contract value per order: S$500,000
It is therefore highly recommended for you to split large orders into multiple smaller ones for submission.
EPS/Incoming Funds:
Please do so by 10:00am for the funds to be credited on the same day. (Only applies for Cash Trading Account)
Submit EPS Notification Form
