Sunday, June 08, 2008

POEMS (Phillips Securities)

Someone asked me how to access the foreign currency rates offered by Phillips Securities.

You have to register as a subscriber to their online portal, POEMS. You can get the foreign currenct rates from the tab, FOREX/GOLD, FX/INVEST.

There may be an easier way. You can call Phillips Securities and ask them how you can use this service.
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8 comments:

Raymond T said...

I called them up and they said to go down to Raffles City to open a Futures account on the 7th floor of their office. :)

June 08, 2008 9:36 PM
sunny flowery said...

I called them up and asked about the AUD and NZD. The girl said they don't convert these two currencies.

Does anyone else know?

June 09, 2008 6:30 PM
Raymond T said...

Oh yes they do. You need to open an account with them and after converting, you can online TT to the bank of your choice. Need the bank account number, the SWIFT code etc and key in also your instructions for the FD tenure etc.

June 12, 2008 11:50 PM
TWK said...

Hi Raymond,

tks for the info. Do we need to open a Foreign currency account with the bank first before we link out POEMS account to it?

June 16, 2008 10:52 AM
Raymond T said...

It will be automatically linked to your shares trading account.

June 16, 2008 4:39 PM
Raymond T said...

Better to open your Phillips Futures account first before opening your foreign currency FD account in a bank. Remember to ask if there are any charges payable.. i.e. some banks charge you another 1% if you are not converting the currency with them ;)

June 17, 2008 11:21 AM
Raymond T said...

by the way, I meant that your poems trading account will automatically be linked with your futures account. You need to personally go down and open your own foreign currency FD account at whichever bank you choose. Some charges applicable is phillips US$30 per tt and the bank's "commission in lieu" of changing the foreign currency. Some charge, some don't. =)

June 17, 2008 2:23 PM
Anonymous said...

HiKinLian,
Since someone mentioned abt PHillips Securities. I am interested to open the Phillips Securities Managed Funds accounts.

Do u think it will be better than I trade in stocks directly myself ?

WyWy

August 18, 2009 5:09 PM

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