PhillipCapital Review 2024
Website: www.phillipcapital.com
Min. Deposit: US$ 5000
Leverage: 1:30 | 1:50
Trading Platforms: MT4, TT platform, CTS, Multicharts, etc.
Regulation: FINRA, FCA
Headquarters: Singapore
Founded: 2015
Regulatory Licenses:
- Phillip Capital Inc. - authorized by FINRA (US)
- PhillipCapital UK Limited - authorized by FCA (UK) registration no. 169760
Updated on April 8, 2024
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PhillipCapital is a Futures Commission Merchant (FCM) and brokerage firm offering access to a broad spectrum of trading opportunities, including Futures, Options, Forex pairs, CFDs, Indices, Stocks, Metals, and more. This comprehensive review method involves an in-depth analysis of PhillipCapital's offerings, comparing them against industry standards and incorporating user feedback to provide a well-rounded view of the broker's services.
PhillipCapital Pros and Cons ▲
PhillipCapital stands out as a highly reputable and regulated broker, known for its competitive spreads and a wide array of trading instruments. Over the years, PhillipCapital has built a formidable reputation, supported by strong regulatory compliance and a diverse range of investment opportunities. Additionally, the broker boasts a detailed research section and various order types to enhance the trading experience.
Pros
Competitive spreads compared to industry standards
Strong regulatory compliance ensures reliability
Wide range of trading instruments
Detailed research section available
Cons
Lack of 24/7 customer support
Limited trading instruments in certain categories
Is PhillipCapital Safe or a Scam? ▲
PhillipCapital is far from being a scam. As a broker regulated by prestigious entities such as FINRA and the FCA, PhillipCapital adheres to strict standards of financial conduct and transparency. This regulatory framework ensures that PhillipCapital operates with the highest levels of integrity and security, providing a safe trading environment for its clients.
PhillipCapital Review Summary in 10 Points ▲
Headquarters: Singapore
Regulation: Regulated by FINRA, FCA
Platforms: Offers MT4, TTT platform, CTS, Multicharts, among others
Trading Products: Includes Futures, Options, Forex pairs, CFDs, Indices, Stocks, Metals, etc.
Stock Commission: Fixed at $3.88
Paper Trading/ Demo Account: Available for practice and strategy testing
Minimum deposit: Set at $5,000
Base currencies: Supports USD, EUR, GBPEducation: Comprehensive educational resources provided
Customer Support: Available 24/5
Overall PhillipCapital Ranking ▲
PhillipCapital is recognized as a reliable broker offering favorable trading conditions. The broker's competitive spreads, wide range of services, and regulatory compliance place it in a strong position within the financial trading industry. With a score of 4.0 out of 5.0, PhillipCapital ranks highly when evaluated against a field of over 1000 brokers. This ranking reflects the broker's commitment to providing high-quality trading services and support to its clients.
Leverage, also known as the loan extended by the broker to the trader, stands as a potent tool that significantly boosts your trading potential. However, caution is advised since leverage also amplifies losses in equal measure. PhillipCapital offers leverage in compliance with FCA and FINRA regulations:
For UK traders, permissible leverage caps at 1:30 for Forex instruments, 1:20 for minor currencies, and 1:10 for commodities.
US traders, under the jurisdictions of CFTC and FINRA, may leverage up to 1:50.
PhillipCapital caters to a diverse clientele by offering a range of account types including Individual, Joint, Corporate, LLC, LLP, Trust, IRA, Pension Plan, and Discretionary Trading accounts. Additionally, for newcomers eager to practice trading without financial risk, a Demo-Account is available for trial use.
How to Open PhillipCapital Live Account? ▲
Initiating a trading journey with PhillipCapital is straightforward. Follow these steps to open an account:
Navigate to the “Open an Account” page and select it.
Fill in the required personal information (such as Name, email, phone number, etc.).
Provide proof of identity and residence by uploading the necessary documents.
Complete an electronic quiz to verify your trading knowledge.
After your account is verified and activated, you can proceed with depositing funds.
PhillipCapital's trading arsenal encompasses Futures, Options, Forex pairs, CFDs, Indices, Stocks, Metals, and more. Our analysis reveals that the broker offers competitive pricing and access to a non-dealing desk (NDD) operation, ensuring fair and transparent trading conditions. Consequently, PhillipCapital's Market Range Score is rated at 8.5 out of 5, acknowledging its broad selection of trading instruments and competitive fees.
PhillipCapital stands out for its competitive pricing structure. Fees are either incorporated into the spread or charged as commission based on the account type chosen. Additionally, traders should be aware of inactivity fees and swap or rollover rates applied to positions held open for more than a day. After an extensive evaluation and comparison with over 1000 other brokers, PhillipCapital's Fee Structure is deemed to offer great value, with an overall rating of 8.5 out of 5.
PhilipCapital stands out for offering tight and commission-free Forex spreads, making its offering quite competitive. The average spread for the EUR/USD pair is notably low at 0.6 pips. In comparison to over 1000 brokers, PhilipCapital's Commission structure is commendable, receiving a rating of 4.3 out of 5. The fees structure, characterized by its attractiveness and transparency, is particularly suited for professional trading strategies, offering a beneficial environment for various trading tactics.
To commence trading with PhilipCapital, traders are presented with several funding options including Bank Wire, Credit/Debit Cards (for UK accounts), Check, and ACH transfers. The rating for PhilipCapital's funding methods stands at 3.9 out of 5, highlighting low to average fees along with the convenience of choosing from multiple account-based currencies. The minimum deposit required to open a PhillipCapital account is $5,000, in either USD, EUR, or GBP, which is significantly higher than the industry average of $500 for most other brokers. However, PhilipCapital does not charge any fees for deposits or withdrawals, offering main account currencies in GBP, EUR, and USD.
Pros
Competitive funding methods
No fees for deposits or withdrawals
Cons
High minimum deposit requirement
PhilipCapital offers the globally recognized MT4 trading platform for UK accounts, accessible via desktop, mobile, or tablet, ensuring flexibility and convenience for traders of all levels. Enhanced by powerful tools, real-time news from Market News, and access to Expert Advisors, the platform caters well to professional trading needs. Additionally, future trading platforms such as the TT platform, CTS, Multicharts, and others are available. With an overall rating of 4.4 out of 5, the PhilipCapital trading platform is highly regarded compared to over 1000 brokers, particularly for its inclusion of the popular MT4 platform and multiple front-end trading solutions.
PhilipCapital prides itself on offering expert customer support 24 hours a day, 5 days a week through Live Chat, Email, and Fax. Based on our testing, customer support at PhilipCapital is rated 4.0 out of 5. The team provides fast and knowledgeable responses, ensuring they are easily reachable during working hours.
PhilipCapital is recognized as a trustworthy and secure broker, offering competitive pricing and a wide array of trading platforms tailored for both present and future trading markets. It boasts comprehensive trading solutions, varied analytical instruments, and opportunities for strategy enhancement. Despite the high minimum deposit, making it less ideal for beginners, PhilipCapital is highly recommended for professional and active traders. It caters especially well to:
Traders from the UK and the US
Professional and advanced traders
Investors interested in real stock trading
Traders focusing on CFD and currency trading
Futures trading enthusiasts
Users of MT4 seeking NDD/STP execution
Those in search of competitive spreads and fees
Traders utilizing EA/Auto trading
Individuals who prioritize quality customer support
In conclusion, PhilipCapital is well-positioned as a considerable choice for professional traders, offering a robust platform for various trading needs while ensuring competitive spreads and exceptional customer support.
