Trade Articles

Trade Articles

Trade Articles

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3 Easy Steps To Trade US Shares

By Hector in Trade Articles on 13 April 2020

3 Easy Steps To Trade US Shares


Why trade US shares? Do you know that the 2 largest stock markets in the world are both in the United States (US)? The New York Stock Exchange (NYSE) and Nasdaq Stock Exchange (Nasdaq) are home to global companies like Amazon, Apple, Facebook, Googles and many more.

Investors can reduce risk by diversifying with global stocks such as those in the US markets. Moreover, the US markets has the liquidity and volatility that traders and investors are looking for to trade stocks efficiently.


US Trading Market


Now, the ability to access and trade in US stocks has never been easier. This is one of the reason why people here in Singapore are eager to start trading in the US stock markets. With POEMS, it can be ready in 3 easy steps.


US Trading in 3 Easy Steps


In this article, I will explain how you can trade US shares in 2 easy steps first. The 3rd Step is only required if you want to trade Exchange-Traded Funds (ETFs).


Step 1: Acknowledge Risk Warning Statement (RWS)

A risk warning disclosure highlights the key risks that customers should be aware of before trading in overseas-listed investment products. These include differences in legal systems, regulatory regime, political, social and economic developments as well as differences in costs, counter party and correspondent broker risks between the foreign jurisdictions and Singapore.

You may submit your acknowledgement of Risk Warning Statement as follows:

Log in to your online trading account via POEMS 2.0 platform. Complete and submit the RWS Form by going to “Acct Mgmt” > “Stocks” > “RWS Acknowledgement” > “Submit”.

Click Demo Guide RWS on how to submit.


Step 2: Fill In W8-Ben Form


W-8 Form is a requirement by the US Inland Revenue Service for account holders to declare that the beneficiary owner of the amount received from US sources is not of US origin.

The form will remain in effect for a period starting on the date the form is signed and submitted and ending on the last day of the third succeeding calendar year.

Options for W8-BEN Form Submission:

(1) Online submission on POEMS (applicable for Individual Account holder only)

W8 form can be accessed through POEMS 2.0, under Account Management > Online Forms > US Tax forms

(2) E-submission (applicable for Individual Account holder only)

Scanned submissions may be submitted by attaching the duly completed form here and replying to w8ben@phillip.com.sg

Scanned submissions are to be sent in from the same email address as per our records.

Click Demo Guide W8-BEN for online submission.


Step 3: Submit Customer Account Review (CAR) For ETFs trading (Optional)


Our regulator MAS requires all retail clients to complete the “Customer Account Review (CAR)’ if you wish to trade Specified Investment Products (SIPs) that is listed on an exchange. One of the product in the list of SIPs is Exchange Traded Fund (ETFs).

ETFs are open-ended investment funds listed and traded on a stock exchange. They aim to track, replicate or correspond to the performance of an underlying index or asset. ETFs provide access to a wide variety of markets and asset classes.

The performance/price of ETFs is ultimately dependent on the value of its underlying asset and the respective index that the ETF is tracking.

To trade SGX listed STI ETF and US listed ETFs, you’ll need to complete the CAR assessment before you can trade SIPs.

You may submit your CAR and CKA Assessment online as follows:

Log in to your online trading account via POEMS 2.0 platform. Complete and submit the CAR and CKA Form by going to “Acct Mgmt” > “Stocks” > “CAR & CKA Form” > “Submit”.

Click Demo Guide CAR /CKA on how to submit.

For more information ,Read CAR/CKA.

For more information, Read ETFs. 


Free Trade US Live Prices Subscription For Non Professional


Free US live prices subscription is open to individuals who qualify as non-professional. Individuals have to meet all the following criteria to be considered non-professional:

• An individual who is registered and paying in his personal name or capacity

• An individual who uses the Subscriber’s Service for the purpose of managing his personal funds; and

• Does not distribute or provide Market Information from the Subscriber’s Service to any third party in any manner

If you qualify as a Non-Professional, you may refer to the link below on how to subscribe for Free US Markets Live Price.

Click Demo Guide US Live Prices on how to submit.


Happy Trading!
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