Saturday, March 22, 2014

Should I Invest Via Citibank Online Brokerage Instead Of Phillips Securities' POEMs Now?

Share trading commission charge
As part of my investment venture, finding a suitable online trading platform is paramount at the moment. Sometime back, for whatever reason, I've registered for the Phillips Securities' POEMS platform but never really traded anything there. 

Through my recent research, I noticed that there are quite a substantial variation of commission rates between the platforms and following are my findings (comparing Phillips Securities' POEMS with Citibank's Online Brokerage) :

                             Commission Rate (%)     Minimum (SGD)
POEMS                      0.25                              $25
CITIBANK                   0.25                              $18

For a small investor, the minimum charge is important as for a start, I am pretty sure that my trading value would not hit anything more than the minimum charges. To exceed it, the trading value (per transaction) need to be more than SGD10,000.

So, purely from commission rate perspective, I believed I should opt for Citibank's. Or did I miss anything out of this equation? If you folks are familiar with either of the platform, do help to provide your advice.


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