Overall, PhillipCapital is considered trusted, with an overall Trust Score of 95 out of 100. It is licensed by five Tier-1 Regulators (highly trusted), one Tier-2 Regulator (trusted), zero Tier-3 Regulators (average risk), and zero Tier-4 Regulators (high risk). PhillipCapital offers three account options: a Margin Account, a Cash Plus Account, and a Cash Management Account.

 

PhillipCapital Review – 13 key points quick overview:

1. ☑️Overview
2. ☑️Account Types
3. ☑️How to Open a Account
4. ☑️Deposit & Withdrawal Options
5. ☑️Trading Instruments & Products
6. ☑️Trading Platforms and Software
7. ☑️Spreads and Fees
8. ☑️Leverage and Margin
9. ☑️Educational Resources
10. ☑️Pros & Cons
11. ☑️Security Measures
12. ☑️Conclusion
13. ☑️Frequently Asked Questions

 

Overview

   

PhillipCapital, established in 1975 in Singapore, is a global financial powerhouse with operations in 15 countries. The company’s mission is to provide investors with the necessary tools and technology to succeed in the financial markets.

 

In 1996, they introduced POEMS, Singapore’s first internet-based trading platform, demonstrating their commitment to innovation. PhillipCapital has received numerous awards and distinctions for its dedication to serving investors, drawing over a million customers worldwide.

 

With over $35 billion in assets, they offer access to various markets, including Forex, stocks, futures, ETFs, and CFDs. With over five decades of experience, it has become a reliable trader partner worldwide.

 

Furthermore, PhillipCapital invests in R&D to improve its platforms and provide traders with an advantage in the volatile world of finance. Whether a seasoned investor or a beginner, PhillipCapital offers the tools to help achieve financial objectives.

 

Can I entrust PhillipCapital with my investments?

 

Yes, they have a Trust Score of 95 out of 100 and is regulated by respectable organizations like the MAS, FINRA, SEC, and others, assuring high reliability.

 

What sets PhillipCapital apart from other brokers?

 

They differentiate themself with their advanced trading platforms, such as POEMS and MetaTrader 5, which provide diverse financial products and low spreads.

 

At a Glance

 

PhillipCapital Account Types

   

Information	Cash Plus	Cash Management	Margin
🔎Availability	All traders	All traders	All traders
💻Markets	All	All	All
💳Commissions	From $1.88	From $1.88	Variable
💻Platforms	All	All	All
📊Trade Size	Depends on the asset class	Depends on the asset class	Depends on the asset class
📈Leverage	1:50	1:50	1:50
💰Minimum Deposit	5,000 USD	5,000 USD	50,0000

 

Cash Plus Account

Their Cash Plus Account is basically designed for traders seeking low brokerage fees in global markets. It has a stand-by margin capacity of S$50,000, allowing traders to leverage funds and investment items.

 

Brokerage prices are graded based on asset value, with higher asset values receiving preferential treatment in markets like Singapore, the US, and Hong Kong.

 

The account offers funding for purchases, defined quantum and margin conditions, and efficient margin call management, making it a versatile solution for maximizing investment potential.

 

Management Account

The Cash Management Account consolidates investment funds in one location, facilitating easy monitoring using the POEMS platform. It allows trading of shares, unit trusts, bonds, and other assets, with custodial services for Singapore-listed and overseas shares.

 

It features an excess funds management tool for higher returns on SGD and USD. Multi-currency services are offered for efficient foreign currency asset management. The account supports contra-trading and allows immediate settlement for transactions with adequate funds.

 

Margin Account

PhillipCapital’s Margin (M) Account allows traders and investors to maximize their investment potential on 23 global exchanges. It allows margin borrowing using cash or certain investment items as collateral, with a credit limit of S$50,000 for new accounts.

 

Demo Account

It offers a variety of demo accounts across various platforms, allowing new traders to familiarize themselves with a wide range of goods and trading on award-winning platforms.

 

Phillip Nova 2.0 is a single login platform that allows trading multiple assets, including US stocks and futures. It features over 100 technical indicators and can simultaneously display up to four live charts.

 

MetaTrader 5 is a platform offered for gold, oil, and forex, and it is also available for a demo with narrow spreads and micro and lower volume trading.

 

Furthermore, these demo accounts allow novice and experienced traders to test trading techniques without financial risk and gain confidence before committing to actual trading.

 

Can I trade all markets with any PhillipCapital account?

 

Yes, all PhillipCapital account types provide access to various markets, including currency, equities, ETFs, commodities, and more.

 

Are there any account maintenance costs for PhillipCapital accounts?

 

No, PhillipCapital does not impose account maintenance or inactivity fees, allowing traders to find cost-effective trading options.

 

How To Open a PhillipCapital Account

To register an account with PhillipCapital, follow these steps:

 

Step 1 – Click on the Open Account Option.

Visit the PhillipCapital website and look for the “Open an Account” or “Sign Up” banner on the homepage.    

Step 2 – Select preferred account type.

PhillipCapital provides a variety of account types based on your requirements and investing expertise. Choose the one that best meets your trading objectives.    

Step 3 – Complete the form.

Upload any documents required for identity verification and proof of residency as directed throughout the application process. Before completing your online application, carefully examine the information you provided. Next, PhillipCapital will assess your application and carry out any required checks. They will contact you via email about their decision.     Once accepted, you must fund your account with the minimum deposit before trading. Furthermore, PhillipCapital will offer specific deposit instructions. Before you start trading, familiarize yourself with the platform’s features.  

Can I register a PhillipCapital account if I am not a resident of one of their operational countries?

 

Yes, regardless of where you live, you can establish an account with PhillipCapital if you match the eligibility conditions and follow the regulations.

 

Are there any expenses for creating an account with PhillipCapital?

 

No, PhillipCapital does not charge any fees to create an account. However, there could be costs for funding your account or executing transactions.

 

PhillipCapital Deposit & Withdrawal Options

 

Deposits

Deposit Using ACH Card Step by Step

✅PhillipCapital’s bank account information (beneficiary name, account number, bank name, and SWIFT/BIC code). ✅Make a wire transfer via your bank, whether online or in person. ✅As a reference, provide the appropriate PhillipCapital banking details, including your account number.  

How to Deposit using Checks Wallets Step by Step

✅Link your bank account and PhillipCapital account under the platform’s deposit area. ✅Enter the desired deposit amount and begin the ACH transfer.  

To Deposit using e-Wallets or Payment Gateways Step by Step

✅Make the cheque payable to PhillipCapital and provide your account number on the memo line. ✅Send the cheque to PhillipCapital’s specified address (available on their website).  

How to Deposit using Internal Transfers Step by Step

✅Select your favorite e-wallet in the PhillipCapital deposit area. ✅Follow the link to connect to your e-wallet and approve the payment.  

Deposit using Telegraphic Transfer Step by Step

  ✅If you have numerous Phillip Group accounts, you can easily transfer funds between them. ✅Access the internal transfer option in your PhillipCapital account administration section. ✅Choose the source account, amount, and PhillipCapital account where you wish to deposit the funds.  

To Deposit using GIRO Step by Step

✅Obtain PhillipCapital’s telegraphic transfer information from their website or customer service. ✅Initiate the TT via your bank and give the necessary information.  

PhillipCapital Withdrawals

Withdraw Using ACH Card Step by Step

• Create a GIRO payment arrangement with PhillipCapital via your bank.
• PhillipCapital will debit the selected bank account for deposits.

 

How to Withdraw using Checks Wallets Step by Step

• Link your bank account to your PhillipCapital account on the site.
• Request a withdrawal and choose ACH as the method.

 

To Withdraw using e-Wallets or Payment Gateways Step by Step

• Request a check withdrawal from your PhillipCapital platform.
• Include your postal address, where the cheque should be mailed.

 

Withdrawal using Internal Transfers Step by Step

• Choose your associated e-wallet as the withdrawal method for your PhillipCapital account.
• Follow the steps per the payment gateway to withdraw funds (you might have to log into the payment gateway separately).

 

Withdraw using Telegraphic Transfer Step by Step

• Start an internal transfer on your PhillipCapital platform.
• Transfer funds to another account you have with Phillip Group.

 

How long does it take for deposits to show in my PhillipCapital account?

 

Deposit processing times vary by payment type, ranging from quick for certain electronic methods to several business days for bank wire transfers.

 

Can I withdraw funds from my PhillipCapital account using the same method that I used to deposit?

 

Yes, PhillipCapital normally enables withdrawals using the same way as deposits, as long as the system facilitates withdrawals.

 

Trading Instruments & Products

The Broker offers the following trading instruments and products:

  ➡️Forex – They provide a diverse selection of forex currency pairings to trade, including major, minor, and exotic pairs. They give access to spot currency              markets, allowing for quick exchange. ➡️Metals – Exchange precious metals such as gold, silver, and platinum. These can typically be traded as spot transactions, futures, or CFDs, depending on          the options available in your location. ➡️Shares – It offers access to equities listed on various worldwide exchanges. ➡️ETFs – They can choose from a wide range of Exchange-Traded Funds (ETFs) to acquire exposure to different sectors, industries, commodities, and              investing techniques. ➡️Indices – Traders can access prominent stock market indexes such as the S&P 500, Dow Jones Industrial Average (DJIA), NASDAQ, FTSE 100, and many       more, sometimes using futures or CFDs. ➡️Commodities – Their traders have access to various commodities, including energy (oil, natural gas), agricultural items (corn and soybeans), and metals.           Commodities may be traded as spot transactions, futures contracts, or CFDs. ➡️Cryptocurrencies – Depending on your region, you could have access to cryptocurrency trading. However, regulations will affect the availability and                    particular cryptocurrencies available in each area. ➡️Interest Rates – PhillipCapital offers fixed-income financial products linked to interest rates, such as bonds (government or corporate) or interest rate              futures. ➡️Futures – Traders can access futures markets for commodities, indices, currencies, and interest rate instruments. ➡️Unit Trusts are professionally managed mutual funds in certain locations such as Singapore and Malaysia.  

Is there a limit on trading particular commodities with PhillipCapital?

 

No, there is not. However, while PhillipCapital provides a diverse choice of commodities for trading, availability could vary based on regulatory constraints in certain areas.

 

Can I trade option contracts with PhillipCapital?

 

Yes, PhillipCapital offers options contracts on underlying assets such as stocks, indices, and commodities, giving traders more trading techniques and possibilities.

 

Trading Platforms and Software

   

POEMS 2.0

This is a user-friendly platform for traders, offering access to various financial assets like stocks, ETFs, and bonds. It features real-time quotations, charting, and market news, making it a crucial part of PhillipCapital’s digital services.

 

POEMS Pro

It is a platform for expert traders seeking advanced market research and trading tools. It offers improved charting, advanced order types, and customizable environments, allowing customers to execute sophisticated strategies and manage portfolios accurately.

 

POEMS Mobile 2.0

Is a mobile-optimized software that combines POEMS 2.0’s comprehensive capabilities with the ease of a mobile device, allowing traders to stay connected, monitor investments, and execute transactions globally.

 

POEMS Mobile 3

This is a mobile trading app that offers a refined user experience and enhanced capabilities, incorporating recent technical breakthroughs for quicker, more accurate trading and information access, enhancing customization and navigation for traders.

 

MetaTrader 5

MetaTrader 5 is a popular platform for traders seeking powerful financial trading activities and technical analysis tools.

 

Furthermore, Their MetaTrader 5 integrates with the broker’s products, allowing trading across asset classes like Forex and CFDs on indices and commodities. Its sophisticated analytical tools and excellent charting package make it popular.

 

Phillip Nova

This is a modern trading platform designed for efficiency and flexibility. Its user interface is straightforward and adaptable to different screen sizes.

 

It offers complex options trading features, over 90 technical indicators, real-time market news, and transaction alerts. The platform’s charting features are speedy and responsive, allowing traders to watch up to four live charts simultaneously.

 

CQG

CQG is a popular electronic market trading platform with enhanced features like DOM ladder compression, DOMTrader®, Order Ticket, and Quote Board.

 

It offers improved market visibility, efficiency, and a comprehensive net open trade equity view, supports multiple languages, and simplifies order execution.

 

Trading Technologies (TT)

Trading Technologies (TT) is a user-friendly platform offering basic trading capabilities, real-time market data, and automated trading techniques.

 

It connects traders from various devices and provides efficient execution speeds, making it an ideal choice for traders seeking automated trading systems to enhance market success.

 

May I trade on various platforms with a single PhillipCapital account?

 

Yes, traders can use a single PhillipCapital account to access several trading platforms, such as POEMS and Meta Trader 5.

 

Can I change the appearance or features of PhillipCapital’s trading platforms?

 

Yes, PhillipCapital’s trading platforms enable traders to also customize the layout, charts, indicators, and features according to their preferences and trading style.

 

PhillipCapital Spreads and Fees

   

Spreads

Their spreads are incredibly low, with EUR/USD pairings starting with only 0.6 pips. This narrow spread also reflects PhillipCapital’s efficiency and ability to provide advantageous trading conditions.

 

Commissions

PhillipCapital Commissions also offers competitive flat rates starting at $1.88 on US shares, with more competitive rates for traders with a Privilege account worth SGD250,000 or more. Fees vary across markets, with Singapore offering a low fee of 0.06%.

 

Overnight Fees

They may also apply overnight fees for Forex transactions based on interest rate differentials between currencies. These fees should be included in trading cost estimates, especially for techniques requiring multiple trading sessions, as exact rates are not provided.

 

Deposit and Withdrawal Fees

PhillipCapital charges $25 for outbound wires in all currencies, reflecting the expense of handling international wire transfers. A $25 returned wire charge applies when a wire transfer cannot be completed as planned.

 

Outgoing paper checks returned unprocessed deposit checks, bounced check deposits, and resending checks are additional costs. Outgoing account transfers basically range from $25 to $50, depending on the transfer details.

 

Inactivity Fees

They do not charge any dormancy or account maintenance fees.

 

Currency Conversion Fees

PhillipCapital Currency Conversion Fees are based on the exchange rate, with a markup but no additional fees.

 

Does PhillipCapital provide volume-based trading charge discounts?

Yes, PhillipCapital provides volume-based trading charge reductions, especially for traders with Privilege accounts valued at SGD250,000 or more.

 

Do they impose any fees for account maintenance or inactivity?

No, PhillipCapital does not impose account maintenance or inactivity fees, so traders may keep their accounts without incurring further expenditures.

 

Leverage and Margin

 

PhillipCapital offers a Margin (M) Account, allowing traders to diversify their investment horizons basically across over 23 global exchanges. This account format allows traders to also use funds or specific investment assets as collateral for margin borrowing.

 

The platform offers a basic credit limit consequently of $50,000 for new Margin accounts, with the option for higher limits. The Margin (M) Account’s leverage also operates within a structure of financing tiers and margin coefficients, regulating funding across different investment instruments.

 

Each financing tier corresponds to specified Initial Margin (IM), Maintenance Margin (MM), and Force-selling Margin (FM) requirements, because the account’s equity balance governs available funds for future investments.

 

Furthermore, PhillipCapital uses a financing multiplier approach to calculate the maximum purchasable amount based on loan level and collateral type. In case of a margin call, the platform provides explicit methods for traders to correct shortfalls, preventing forced liquidation.

 

Do PhillipCapital provide margin requirements for various asset classes?

 

Yes, PhillipCapital clearly defines margin requirements for several asset classes, also including the initial, maintenance, and force-selling margins.

 

Does PhillipCapital provide Margin Trading?

 

Yes, there is. While margin trading may raise prospective profits, it also carries additional risk, including the chance of losses surpassing the original investment.

 

Educational Resources

PhillipCapital offers the following educational resources:

  ➡️CME Product Heat Map – PhillipCapital and the CME Group also collaborated to create the CME Product Heat Map, which is a unique tool. It provides a visual picture of market activity, also including current open interest, changes in volume and open interest by strike for options and put or call classifications for all CME Group asset classes. ➡️Articles – Their articles are another cornerstone of their educational offerings. These articles cover a wide range of issues related to trading and investing, such as market analysis, investment methods, financial planning, and economic news. ➡️ABCs of Trading – “ABCs of Trading” is an excellent beginning point for beginners in the financial markets. This part also focuses on creating a firm foundation by presenting fundamental ideas, terminology, order types, and market mechanics. ➡️Webinars and Seminars – Webinars and seminars are certainly designed for a wider audience, from beginners to advanced traders, and sometimes dig into specialized themes of interest. ➡️Market Reports and Analysis are certainly important to traders looking for insights and prospective trading ideas. PhillipCapital also delivers daily updates on market trends, economic statistics, corporate news, and analyst insights. ➡️Platform Tutorials are particularly developed for new users of PhillipCapital’s proprietary platform or third-party platforms that the business supports. These tutorials provide also a step-by-step instructions on using platform features, placing orders, and navigating the site effectively. ➡️The PhillipCapital Glossary is basically a complete dictionary for anybody seeking clarity on financial terms. It also offers a collection of popular trading and investment phrases and meanings.  

Can novices find beginner-friendly instructional resources on PhillipCapital’s website?

 

Yes, PhillipCapital offers beginner-friendly training tools such as the “ABCs of Trading,” which cover core principles, vocabulary, and market mechanics to assist new traders in creating a solid foundation.

 

Are there any expenses for utilizing PhillipCapital’s educational resources?

No, PhillipCapital’s instructional tools are basically often provided to customers for free.

 

PhillipCapital Pros & Cons

 

Security Measures

 

PhillipCapital is a leading financial institution also prioritizing the security of its customers’ information and transactions. The company employs robust security measures, including physical, technological, and administrative processes, to prevent data breaches and basically to ensure the integrity of customer data.

 

Furthermore, PhillipCapital’s security system includes access control, ensuring only authorized personnel can access sensitive data. Modern encryption technologies are also used to protect online transactions and communications.

 

They also provide customers with tools to protect their devices and transactions, such as strong passwords, two-factor authentication, and phishing scam knowledge.

 

It also conducts regular audits and compliance checks to uphold industry standards and laws, fostering a secure trading environment. PhillipCapital’s commitment to customer trust and confidence is also evident through its security-conscious culture and optimal data protection policies.

 

Are clients given options to improve the security of their accounts at PhillipCapital?

 

Yes, PhillipCapital provides traders with strong passwords, two-factor authentication, also phishing scam awareness to secure their devices and transactions from security risks.

 

Does PhillipCapital give frequent security upgrades and training for its employees?

 

Yes, PhillipCapital offers its employees frequent security updates and training to ensure they stay cautious against new security risks and also follow best practices for data protection.

 

Conclusion

 

According to our research, PhillipCapital is a forex and CFD trading broker because of a strong history from 1975.

 

Furthermore, PhillipCapital offers a diverse range of trading instruments, attractive spreads, and multiple platforms. Because of a global presence in over 15 countries and regulatory control, it is a legitimate choice for traders.

 

However, our findings show potential customer service restrictions and cost variances may discourage some traders. Therefore, traders should weigh the benefits and drawbacks before committing to PhillipCapital.

 

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