PhillipCapital review

PhillipCapital

PhillipCapital

www.phillipcapital.com

  • Leverage: 1:30

  • Regulation: FINRA, FCA

  • Min. Deposit: $5,000

  • HQ: Singapore

  • Platforms: MT4, TT platform, CTS, Multicharts, etc.

  • Found in: 2015

PhillipCapital Licenses

  • Phillip Capital Inc. - authorized by FINRA (US) 
  • PhillipCapital UK Limited - authorized by FCA (UK) registration no. 169760

Top 3 Forex Brokers

  1. PhillipCapital Pros and Cons
  2. Is PhillipCapital safe or a scam?
  3. Leverage
  4. Trading Fees
  5. Spread
  6. Deposits and Withdrawals
  7. Platforms
  8. Conclusion

Our Review Method

  • 55Brokers Financial Experts with over 10 years of experience in Forex Trading check all trading offerings, fees, and platforms, verified regulations, contacted customer service, and placed traders to see trading conditions and give expert opinions about PhillipCapital.

What is PhillipCapital?

PhilipCapital is a Futures Commission Merchant (FCM) and brokerage company offering access to trade Futures, Options, Forex pairs, CFDs, Indices, Stocks, Metals, etc.

As a part of the PhillipCapital Group, the company was based in Singapore more than 40 years ago with offices in 15 countries and over $1,5 billion in shareholder funds.

PhillipCapital UK branch carrying FCA regulation has been launched in 2015, with the purpose to achieve group expansion and the target to spread the circle of Forex services.  An overall trading process is performed on a well-established financial service basis, while PhillipCapital operates in close binding with liquidity providers and STP execution.

Phillip Capital Pros and Cons

PhillipCapital is a reliable regulated broker with STP execution, low spreads compared to industry peers, a good range of trading instruments, and a comprehensive research section.

For the Cons, there is no 24/7 customer support, and trading instruments are limited.

AdvantagesDisadvantages
Regulated broker with a strong establishmentNo 24/7 customer support
Globally recognized
Competitive spreads and trading costs
FINRA license and overseeing

PhillipCapital Review Official Website

PhillipCapital Review Summary in 10 Points
🏢 HeadquartersSingapore
🗺️ RegulationFINRA, FCA
🖥 PlatformsMT4, TTT platform, CTS, Multicharts, etc.
📉 InstrumentsFutures, Options, Forex pairs, CFDs, Indices, Stocks, Metals, etc.
💰 EUR/USD Spread0.6 pips
🎮 Demo AccountAvailable
💳 Minimum deposit$5,000
💰 Base currenciesUSD, EUR, GBP
📚 EducationProvided
☎ Customer Support24/5

Overall PhillipCapital Ranking

PhillipCapital is considered a reliable broker with good trading conditions. The broker offers a range of trading services with competitive spreads and fees.

  • PhillipCapital Overall Ranking is 8 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
RankingPhillipCapitalAetosValutrades
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
AdvantagesTrading InstrumentsTrading SolutionsSpreads

PhillipCapital Alternative Brokers

PhillipCapital offers good trading conditions, and also competitive trading prices. However, there are a number of other brokers that may offer similar services. Here are some of the best alternatives to PhillipCapital:

Awards

PhillipCapital has been awarded a few times by global investors for its reliable trading services and financial technology in the past few years including “Best Retail Broker” in 2017, and 2019, Singapore.

Is PhillipCapital Safe or Scam?

No, PhillipCapital is not a scam. It is regulated by a top-tier FCA (UK), and FINRA (US) providing low-risk Forex and CFD trading.

Is PhillipCapital Legit?

Yes, PhillipCapital is a legit and regulated broker.

According to the regulations, PhillipCapital is subject to various restrictions on how to operate the trading process. PhillipCapital UK Limited operates through its registered office in London, UK, and acts as a part of the PhillipCapital Group, which is authorized and regulated by FCA.

See our conclusion on PhillipCapital Reliability:

  • Our Ranked PhillipCapital Trust Score is 8.5 out of 10 for good reputation and service over the years, also for a reliable top-tier license. The only point is that regulatory standards and protection vary based on the entity.
PhillipCapital Strong PointsPhillipCapital Weak Points
Regulated broker with safe trading conditionsRegulatory standards and protection vary based on the entity
Segregated bank accounts
Negative balance protection
Global coverage

How Are You Protected?

All clients’ funds are kept separately from the company’s house funds. The regulatory bodies allow PhillipCapital to invest the funds traders maintain in these segregated bank accounts.

PhillipCapital also provides its clients with negative balance protection to guarantee that they will never lose more than they have in their accounts.

All financial processes are fast and accurate, and payments are usually received within 5 working days through sharp and strong procedures and operations regarding management and safety.

PhillipCapital Review License

Leverage

Leverage level or known as a loan taken by the trader from the broker is a great tool, which can significantly magnify your trading capabilities, yet you should be careful as the tool works in reverse as well.

PhillipCapitall leverage is offered according to the FCA regulation:

  • UK traders are eligible to use low leverage up to 1:30 for Forex instruments, 1:20 for minor currencies, and 1:10 for commodities.
  • US traders under CFTC and FINRA jurisdictions may use up to 1:50 leverage.

Account Types

PhillipCapital offers Individual, Joint, Corporate, LLC, LLP, Trust, IRA, Pension Plan, and Discretionary Trading accounts. In addition, new traders who want to trade with no risks can benefit from the trial version through Demo-Account.

ProsCons
Fast account openingAccount types and proposals may vary according to jurisdiction
Demo account is availableThe initial deposit amount is above average
Account base currencies GBP, EUR, USD

How to Open PhillipCapital Live Account?

Opening an account with PhillipCapital is quite easy. You should follow the opening account or sign-in page and proceed with the guided steps:

  • Select and Click on the “Open an Account” page
  • Enter the required personal data (Name, email, phone number, etc.)
  • Verify your personal data by upload of documentation (residential proof, ID, etc.)
  • Complete the electronic quiz confirming your trading experience
  • Once your account is activated and proven, follow with the money deposit.

PhillipCapital Review Opening Account

Trading Instruments

PhillipCapital trading instruments include Futures, Options, Forex pairs, CFDs, Indices, Stocks, Metals, and more. Based on our finds, the broker provides competitive pricing, as well as access to a non-dealing desk (NDD) operation.

  • PhillipCapital Markets Range Score is 8.5 out of 10 for a good trading instrument selection and competitive fees.

PhillipCapital Fees

PhillipCapital pricing is competitive and fees are either built into spread or commission charges based on the account type you select. Also, consider inactivity fees, and swap or rollover rates as well which are charged in case the position is open longer than a day.

  • PhillipCapital Fees are ranked average, low with an overall rating of 8.5 out of 10 based on our testing, and compared to over 500 other brokers.
FeesPhillipCapital FeesValutrades FeesATC Brokers Fees
Deposit feeNoNoYes
Withdrawal feeNoNoYes
Inactivity feeYesYesYes
Fee rankingLowLowLow, Average

Spreads

PhilipCapital offers tight and no commission Forex spreads. Based on our finds, the offering is quite competitive, and the average spread for EUR USD is 0.6 pips.

  • PhilipCapital Spreads are ranked low with an overall rating of 8.9 out of 10 based on our testing comparison to other brokers. We found Forex spread much lower than the industry average, and spreads for other instruments are very attractive too.
Asset/ PairPhillipCapital SpreadATC Brokers SpreadValutrades Spread
EUR USD Spread0.6 pips0.3 pips0.1 pips
Crude Oil WTI Spread4.131 pip
Gold Spread3.871 pip

PhillipCapital Review Spread

Deposits and Withdrawals

To fund the account and start trading with PhillipCapital, you will have a choice to choose from USD, EUR, or GBP currencies, while to process the funding you can select from Bank Wire, Credit/Debit Cards (UK account), Check, and ACH transfer funding methods.

  • PhillipCapital Funding Methods we ranked good with an overall rating of 7.9 out of 10. Fees are either low or average also allowing to benefit from various account-based currencies.

Here are some good and negative points for PhillipCapital funding methods found:

PhillipCapital AdvantagePhillipCapital Disadvantage
No internal fees for deposits and withdrawalsMethods and fees vary in each entity
Fast digital depositsMinimum deposit amount is high than average
Multiple account base currencies

PhilipCapital Minimum Deposit

PhilipCapital minimum deposit amount is $5,000, Euro or GBP. This will allow you to subscribe to the first category of the offered PhillipCapital accounts.

PhilipCapital minimum deposit vs other brokers

PhilipCapital Most Other Brokers
Minimum Deposit $5,000 $500

PhilipCapital Withdrawals

There are no applicable withdrawal fees or deposits for PhilipCapital funding. The main account currencies for funding are GBP/EUR/USD.

How Withdraw Money from PhilipCapital Step by Step:

  1. Login to your account
  2. Select Withdraw Funds’ in the menu tab
  3. Enter the withdrawn amount
  4. Choose the withdrawal method
  5. Complete the electronic request with necessary requirements
  6. Confirm withdrawal information and Submit
  7. Check the current status of withdrawal through your Dashboard

Trading Platforms

Trading with PhillipCapital you can choose between the industry standard MT4 for UK accounts. The platform is available via desktop, mobile, or tablet trades offering mobility and ease of use to the trader of any style.

Along with that PhillipCapital needs, MT4 has been improved by powerful insights, access to investment research information provided by Trading Central, real-time news from Market News, and access to Expert Advisors, etc.

PhillipCapital also offers many future trading platforms including TT platform, CTS, Multicharts, and more.

  • PhillipCapital Platform is ranked good with an overall rating of 8.9 out of 10 compared to over 500 other brokers. We mark it as good since it offers a popular MT4 professional trading platform and access to many front-end trading platforms.
Trading Platform Comparison to Other Brokers:
PlatformsPhilipCapital PlatformsATC Brokers PlatformsValutrades Platforms
MT4YesYesYes
MT5NoNoYes
cTraderNoNoNo
Own PlatformNoYesNo
Mobile AppsYesYesYes

PhillipCapital Review Trading Platfrom

Customer Support

PhillipCapital Education

What’s else putting PhillipCapital from the mainstream, is their customer-oriented and supportive business model, which is obvious from their generous offering and provided operation. The Beginning traders may enjoy also the comprehensive learning materials, or of course, it is always recommended to enhance your capabilities and strive to be better day by day.

All in all, PhillipCapital offering definitely worth consideration, as their business model is very attractive, which has been also proved by received recognition from the clients and numerous awards.

PhillipCapital UK awards

PhillipCapital Review Conclusion

Since the PhillipCapital UK relies on its established through years reputation of the mother company, through its focus on a range of trading opportunities, that makes trading powerful. Apart from the strong regulations and implemented procedures, another pleasant offer from the company is a variety of trading accounts, which featuring two Premiums with different basis on spread or commission. Also, PhillipCapital offering competitive prices.

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