Trade amalgamation means that if you buy or sell the same stock multiple times on the same trading day through the same order channel, the system will automatically combine those trades into a single buy or sell contract for commission calculation. This allows you to accumulate positions in stages without being constrained by the minimum commission charge.

Online Order: Orders placed via the POEMS online platform and mobile App
Offline Order: Orders placed over the phone with a broker or dealer

Trading Activity Fee (FINRA TAF): Collected by the Financial Industry Regulatory Authority (FINRA). Generally charged on sell orders only.
Clearing Fees (NSCC/DTC Clearing Fee): Collected by the National Securities Clearing Corporation (NSCC) and The Depository Trust Company (DTCC) for stock clearing and settlement.
Rates are subject to change from time to time. Please refer to the latest Fees & Charges table: https://www.poems.com.hk/en-us/customer-service/fees-and-charges/basic/

Trading hours for U.S. stocks in Hong Kong Time:

U.S. stock trading sessions (Hong Kong Time, Summer/Winter Time)

Session	Summer Time	Winter Time
Pre-market	16:00 – 21:30	17:00 – 22:30
Regular session	21:30 – 04:00	22:30 – 05:00
Post-market	04:00 – 08:00	05:00 – 09:00

Trading days: Monday to Friday (Hong Kong time)
For the latest trading session timetable, please refer to: https://www.poems.com.hk/en-us/product-and-service/global-securities/trading-session/

The zero-commission offer applies to Japanese buy stock trades placed via the POEMS online platform/App with a transaction amount of JPY250,000 or less. (An administration fee of JPY0.3 per share applies, subject to a minimum of JPY1.)

Rates are subject to change from time to time. Please refer to the latest Fees & Charges table: https://www.poems.com.hk/en-us/customer-service/fees-and-charges/basic/

Please refer to the following page for details: https://www.poems.com.hk/en-us/product-and-service/global-securities/main/#pricefeed

Please refer to the Basic Fees & Charges list: https://www.poems.com.hk/en-us/customer-service/fees-and-charges/basic/

No. Non-U.S. resident aliens are generally not subject to U.S. capital gains tax.

1 share (except for certain depositary receipts)

There is generally no minimum price limit for stocks listed on NASDAQ, AMEX, or NYSE. Orders placed via Phillip can be set to a maximum of two decimal places (certain penny stocks allow three decimal places). The minimum order size is 1 share.

Clients may check the latest stock margin ratios (including U.S. stocks and other global stocks) on our website. Margin ratios are for reference only. The Company reserves the right to adjust the ratios based on market conditions, individual stocks or client account status. Please visit: https://www.poems.com.hk/en-us/market-information-and-toolbox/financing/margin-ratio/

Yes. Clients may day-trade U.S. stocks.

Our electronic trading systems do not offer a market order function. You can achieve a similar effect using the following methods:
1. To buy immediately: Enter a buy price higher* than the current ask price.
2. To sell immediately: Enter a sell price lower* than the current bid price.
*We recommend that the difference does not exceed 5% of the previous traded price.

For example, if you place a limit order to buy 20 shares of Stock A at US$35, and the market offers the shares at a price lower than US$35, your order may be filled at the more favourable (lower) price. This is known as a better fill.

By placing orders yourself via our Phillip online platform or mobile App, you enjoy fast, accurate execution with direct market access and no intermediate handling.

T+1 (one settlement day after the trade date)

Yes. We offer both USD and HKD as settlement currencies for U.S. stock trades.

The exchange rate is determined based on the rate on the trade date.

Morning session: 8:00 a.m. – 10:30 a.m. Hong Kong time
Afternoon session: 11:30 a.m. – 2:30 p.m. Hong Kong time

T+2 (two settlement days after the trade date)