Phillip Securities, the brokerage arm of PhillipCapital, is offering true zero-commission US equities trading for retail investors from 4pm, May 13. Users may trade US stocks, American Depository Deposits and exchange-traded funds (ETFs) through the POEMS’ Cash Plus Account to enjoy this service.
For Singapore investors, US equities and ETFs represent an opportunity for portfolio diversification and access to global markets. With the offering, Phillip Securities is the first full-service brokerage in Singapore to offer commission-free trading of US equities, with no platform, settlement or inactivity fees.
In a press release, Phillip Securities says that the new solution removes a key entry barrier for new and growing investors, providing access to cost-effective trading without compromising on the research, tools, and personalised support of an established institution.
Besides continuing to have access to POEMS’ market access, platform features, research coverage, real-time data and advanced charting tools at no extra cost, clients will still be supported by their assigned trading representative or dealing teams who can understand their investment goals and motivations. This high-tech, high-touch approach ensures investors have the tools and guidance as they build their US equity portfolios, adds Phillip Securities.
Phillip Securities managing director Luke Lim says that the new solution is a reflection of the brokerage’s mission to enable Singaporeans to build long-term intergenerational wealth. “As we look to the future, we recognise that the barriers to entry for global markets must be dismantled,” he says. “By offering zero-fee trading for the US market on our Cash Plus account, we are combining the absolute trust and stability of our historic institution with the modern pricing our clients deserve.”
The Cash Plus Account is available to both new and existing clients with no minimum account balance, age, residency, or accredited investor requirements. Uninvested cash in the account earns interest at prevailing money market fund rates as stated on POEMS.
The account supports SRS and CPF trades as well as dollar-cost averaging strategies, providing investors with flexibility to execute long-term wealth-building plans through their preferred investment vehicles. Existing clients will see the new fee structure automatically applied to their Cash Plus accounts starting on May 13.
Phillip Securities adds that while brokerage commissions, platform fees, settlement fees, and inactivity fees are eliminated, US regulatory fees (SEC/TAF fees) continue to apply.
