- LP1 tab > locate S27 > double-click to open the order entry form
- 2156906/ldn (8char). Acct number also in Sunguard 🙂
- 68-121-565 is good — no verification questions asked
- fund-in .. FAST and UEN both tested. Need to indicate 2156906 in remarks. Need to log in again to see it reflected, within minutes.
- fund-out .. after 10am cut-off, then next-day delivery. Pending fund-out .. below the withdrawal form
- fund in/out history .. ThisMonthTransactions
- 👍 j4 Poems: custody for my mufu with $0 trailer
- 👍: local support by phone and email (fast)
- ##choosing a broker firm #POEMS
Poems is kinda more secure than banks as withdrawal recipient account name must be my name. 2FA is offered but I opted out. See [Feb 8, 2024, 11:49 AM] email.
— mufu redemption workflow on GUI
- as soon as you place order it goes into orderStatus, where you can cancel
- After the price is confirmed, your amount shows in AcctMgmt->UnitTrust->outstandingPayment
- After payment received, the amount shows in AcctMgmt->UnitTrust->transactionHistory
- .. to see cash balance history, you need to go to AcctMgmt->Stocks>thisMonthTransactions
==== total costs, using POEMS
- FX conversion cost .. see Announcements -> currency conversion -> indicative bid/ask rates. Each day there’s a new “announcement”
- all in fees (excl GST or SGD 35c fee): 0.12%
- .. brokerage .. https://www.poems.com.sg/products/stocks/pricing/ shows 0.08% with no minimum
- .. other fees .. 0.04% with no minimum
- CDP charges another SGD 0.37 fee to SRS. I confirmed with CDP.
- S27 expRatio: close to 0.1% https://www.ssga.com/sg/en/institutional/etfs/funds/spdr-sp-500-etf-trust-s27
For my first share, I bought at USD 419.11, but total USD cost was 419.93122, converted to SGD 573.92 (see acctMgmt->eStmt). SRS shows $574.29 deducted, due to $0.37/trade settlement fee by CDP
— 12May share — I bought at USD 391.01. USD 391.78, converted at 1.3994 to SGD 548.25. DBS charged SGD .37 so DBS tx history shows $548.62
- USD 0.77 total fees charged at Phillips (391.78 – 391.01)
- .. 0.12% amount to USD 0.47.
- .. GST and 35c add up to USD 0.30
- SGD 0.37 total fees charged at DBS
— S27 behaves like a futures. If there’s a big news during SGX trading hours, S27 would react to it before the underlying 500 stocks (or the SPY ETF) could react.
Q: how do I know my average purchase price and quantity of S27?
A: Use SRS section of DBS online blotter or monthly statement
SPY enjoys much better liquidity than S27.
Dividend received in USD, credited to SRS, with 30% withholding tax.
Price history https://www.marketwatch.com/investing/fund/s27?countrycode=sg
See also https://thefipharmacist.com/s27-vs-spy/
limit orders close to the market can get filled very soon at my limit price ! I think “SellDown” means a market-Sell hit my limit-Buy.
— Poems also shows mufu positions. Use AcctMgmt -> ScripPositions
Table is too wide, so I prefer to resize down browser window