Please be informed that the technical issue has been resolved.
You can submit online orders for STI Index CFD as per usual.
We apologise for the inconvenience caused and thank you for your understanding.
Dear Clients,
We are pleased to share that we have removed CFD rollover to enhance your trading experience. POEMS now offers up-to-date CFD P&L figures, providing you with more accurate and timely insights.
Kindly note that if you open a position before the removal of CFD rollover is implemented (Friday, 24 May 2024), it will need to undergo one final rollover.
Note: We are looking into removing the expiry date soon.
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.
We would like to announce that we will be offering Limit GTD Orders of up to 90 days validity for CFDs on the POEMS platforms. It will be available for all Equities CFD, Indices CFD and Commodities CFD.
Do take note that Limit GTD Orders will be available from Monday, 30 October 2023.
We would like to inform you that we will be revising the interest rates on our CFD Margin Excess and Deficit Interest.
Please refer below the revised rates and take note that these new interest rates will be effective from 1 October 2023.
The new interest rates are:
If you have any enquiries, please feel free to drop us an email at cfd@phillip.com.sg
Following Phillip Securities Pte Ltd’s review of the prevailing interest rate environment, we would like to inform that changes in negative interest on credit balances in YEN currency will apply with effect from 1 December 2022 on all CFD accounts as follow:
| Curreny | Negative interest rate on Credit Balance (Existing) | Negative interest rate on Credit Balance (NEW) |
| YEN | 0.35% p.a. | 0.50% p.a. |
Please be informed that rates are subjected to change from time to time without prior notice.
Updated 1st Dec 2022, 9:30am
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.
