POEMS Guide

Content
  • Order Types in POEMS
    • Limit
    • Stop Limit
    • One Cancels Other
  • Fund Transfer into your POEMS account
    • Electronic Payment for Shares - EPS
    • Bill Payment
    • Internal Fund Transfer for CFD Trading

Order Types in POEMS

POEMS stands for Phillip Online Electronic Mart System.

It is Phillip Securities' trading platform which allows investors to trade various assets, including Equities, Bonds, CFD, DLC, and Unit Trusts.

Limit Order

A limit order is an instruction to buy or sell an instrument at a specified price or a better price.

For example, the current price of Singtel is Bid: $3.27, Ask: $3.28. 

Scenario 1: Key in $3.28 to buy, order will be done at $3.28 which is the current ask price. 

Scenario 2: Key in $3.30 to buy, order will be done at $3.28, because the current ask price is a better price than $3.30.

Scenario 3: Key in $3.25 to buy, order will be in the queue.


Stop Limit Order

A stop limit order is a conditional instruction to buy at a specified price only after a higher price is touched, or sell at a specified price only after a lower price is touched. In other words, a stop limit order executes the trade at a "worse" price.

It is typically used to mitigate risks by placing a stop loss in case the price moves against you. Please note that you should have bought the shares (1st order) before you place a stop loss (2nd order).

For example, the current price of Genting is Bid: $0.895, Ask: $0.900, and you have a long position. You want to sell when the price drops to $0.88.

Scenario 1: Key in $0.88 trigger price and $0.88 limit price to sell, trigger by "last done" selected. When there is a trade done in the market at $0.88, then an order will be placed to sell at limit price $0.88. The shares will only be sold at $0.88.

Scenario 2: Key in $0.88 trigger price and $0.87 limit price to sell, trigger by "last done" selected. When there is a trade done in the market at $0.88, an order will be placed to sell at limit price $0.87. If the bid price at that point in time is better than $0.87, it will be done at the better price.

Scenario 3: Key in $0.88 trigger price and $0.92 limit price to sell. trade will be triggered but not done because the instruction was to sell at $0.92, which is higher than current bid price. This order will fail as a stop loss.

Scenario 4: Key in $0.92 trigger price and $0.93 trigger price to sell, trade will be rejected because if the intention is to sell at a better price, the first order type "limit order" should be used instead. 



One Cancels Other (OCO) - CFD only

This is a combination of order type 1 and order type 2. After you had bought the shares (1st order), an OCO order (2nd order) can be used to take profit if the price moves up, or cut loss when the price goes down.

When the take profit is triggered, the stop loss will be canceled, and vice versa. 

This order is only available for CFD (Contract for Difference) trades.





Fund Transfer into your POEMS Account

EPS - Electronic Payment for Shares

Your POEMS account can be linked via EPS (Electronic Payment for Shares) to your preferred bank account which you indicated during account opening. You may log in to your bank's website or use the ATM (Automated Teller Machine) to transfer funds into your POEMS account, as shown in the picture below (Method 1).

For transactions submitted before 9pm, the funds can be reflected in your trading account earliest by the next working day (exclude weekend and public holidays).

Bill Payment

If you would like to use another bank account which is not linked via EPS to do your fund transfer, you may do so via bill payment (Method 2).

Internal Fund Transfer for CFD Trading (2 steps)

When you transfer funds to your POEMS account via EPS (step 1), the fund will go to your stocks account by default.

If you would like to designate fund to be used for CFD trading, you need to do an internal fund transfer (step 2).
  • Log in to POEMS
  • Acct Mgt > Stocks Tab > Online Form > Withdrawal Form > Transfer to Account e.g. 1234567 (CFD).
The funds need to be in your CFD account before you can open a position, whether it is a long or a short, and the cash amount in your CFD account needs to be more than the "required margin" for opening a position.

For instance, if the contract size is $15,000 and the required margin is 20%, you need to have more than $3,000 (20% x $15,000) in your CFD account before you can place your trade.













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All posts and charts are for educational and illustration purposes only

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