Others   

Online Brokerage

Hi  l_tan888,

I totally agree with you....  why pay some other person to "manage" your own money for you? In many instances, may funds or unit trusts can't even beat our the ETFs.

 

I'd already given up hope in unit trusts.  About 10 years ago, I bought the Templeton Korean Fund and lost over $130K in 9 months.  However, I also had myself to blame for no holding power.  6 years ago during the "dot.com" boom, my boss recommended me to buy the UOB Global Telecoms Fund and after putting in $60K, today it's worth only about $28K and I'm still holding it like a fool.  One of my friends told me that it's better to punt yourself than to let those fund managers "gamble" with your money and if they loose, they won't even say a sorry to you.  "Why so stupid" said my friend.  I fully concur with him.  Also, see how many people make money in CPF unit trusts investment?  The majority of them are loosing money.  That's because their upfront fees and annual management fees are much too high.  I'm waiting for a little while more (and hope if I can still recover a little more from my UOB Global Telecoms Fund) before I let go and use that money to punt into stocks myself.  At least if I loose in stocks, I'll have myself to blame for not being careful.  Never will I buy another unit trust again.

 

Thanks for your kind advice but 50K is way over my shares trading limit. I split my 50K in FD, UT, insurance and shares.

Anyway hope you get back your monies from them soon.

 

So far, I've used POEMS and it seems to be okay, except for 1 downtime late last year.  It failed for more half a day and was only available at the next day.

I'm now also having a dispute with them because recently I'd traded a contract for S$143,000.00, but they charged me a full 0.28% brokerage fee.  It should be on a reducing scale (0.28% for the first S$50,000.00, 0.22% for the next S$50,000.00 and 0.18% for the rest) as stated in the POEMS website for online trading.  Hence, I was overcharged by S$76.66.  Although it may just be a minute percentage of the overall trade amount, but still, they should go by their own rules.  If they had been so prompt with charging me custodian fees (at S$2.10 per month) for my overseas shares, I don't see why I should allow them to overcharge me S$76.66?  So, all you trading in excess of S$50,000.00 using POEMS, do beware!

 

iOCBC site down again....2 days in a row!!!!!!! Very unreliable site.



Anyone any comments???? How is POEMS....any downtime problems.

 

I should think that a contra facility is intended purely as an administrative convenience for one to offset his trades with the same broker, against earlier trades, within the specified period of T+3 days, thus avoiding unnecessary paperwork and additional hassle.

Shares once bought and settled after the due date can of course be sold through any broker of one's choice, including via an online trade..

 

I have three broker accounts in which I use one to buy because it is also linked to my bank account making it easy to make payment online as well. Because sometimes this broker account sometimes is slow, I switch to another broker account to sell.

I find i-ocbc fair good as it provides "times trade" details & "trade summary" FOC. But it offers "queue track" (which shows the buyers & sellers bids in detail only if you are a heavy user. It also has a watch alert that can alert your phone via sms.

 

ordoraemon,

Of course you can (non contra trades). The shares you owned are all registered with CDP and each of your online trading account is linked to your CDP account. But I am not so sure if the same applies to contra trade, because technically the share is not in your CDP account yet during contra period. Anyone care to enlighten with regards to contra trades? Must one use the same online trading account?

 

Can I buy shares using iOCBC, then sell them off using Philips Securities, as the internet platform for iOCBC is sometimes unstable and hangs after a while.

 

Previously (last month) my live streaming price page always hang after a while, but now it's excellent... they must have upgraded... :)

 

I am using UOBKayHian online trading, but system slow down during heavy trading volume time between 9.00am to 9.30am. Other then that , it is okay. They offer live streaming price. Heard that they are upgrading their system very soon to counter this problem.

 

Hi swkee28,

What do you mean "Best Poems"?

POEMS is only one of many online brokers in Singapore. There is UOB Kay Hian, Kim Eng, DBS Vickers etc...

I've been using POEMS for many years now and I have few complaints except that from time to time, the website is slow due to heavy traffic.

 

Which is the BEST POEMS in the market?

Thanks

Swkee28

 

Continuing this thread ....

Any bros and sis using  fraserdirect ?

or other online brokerage like,

DMG, gkgoh, kimeng,limtan etc....

It will help us newbies if we are able to learn from

your experience.

Appreciate all inputs.

Thanks a Zillion ....  :)

 

zenki81, maybe you can consider uob. their timeline is 4+3.

alot of comments on uob and poems. anyone knows about fraser?

 

Agree with you...

I suppose this is the best our present stage of  IT technological development can offer at this point in time.

Well, the not too distant future will certainly see  better things than now... :)


My Favourite Stock Market Books
 

 

Haha... backup is good.. but from what I noticed recently, during heavy trading days like the ones last week, a lot of the broker platforms cannot handle it.

So no point having backup!

 

Hi zenki81, No mention it. Back to yor question, I am not sure UOB platform good enough or not as I no longer used them. Last time quite "okay" for me. If platform wise, POEMS is quite good while UOB or IOCBC (as maxsyn suggested) can be used as a backup as per your "request".

 

Hi rogue_trader,

Thanks for sharing.

I'm a newbie to investing so still got lots to learn.

Is UOB platform good enough for novice like me? What I foresee that I will be investing would be in stocks only and maybe using their research or stock screening tools.

 

Hi, anybody has any idea where to locate ROE  ? is there a free website that provide these information ? I know shareinvestor does have it, but one has to pay to be a member. Will Share junction be able to provide this information ? Sorry if I asked too much. Thanks,