- PhillipCapital Pros and Cons
- Is PhillipCapital safe or a scam?
- Trading Fees
- Deposits and Withdrawals
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.
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.
|Regulated broker with a strong establishment||No 24/7 customer support|
|Competitive spreads and trading costs|
|FINRA license and overseeing|
PhillipCapital Review Summary in 10 Points
|🗺️ Regulation||FINRA, FCA|
|🖥 Platforms||MT4, TTT platform, CTS, Multicharts, etc.|
|📉 Instruments||Futures, Options, Forex pairs, CFDs, Indices, Stocks, Metals, etc.|
|💰 EUR/USD Spread||0.6 pips|
|🎮 Demo Account||Available|
|💳 Minimum deposit||$5,000|
|💰 Base currencies||USD, EUR, GBP|
|☎ Customer Support||24/5|
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.
|Advantages||Trading Instruments||Trading Solutions||Spreads|
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:
- CornerTrader – Wide Range of Trading Instruments
- ATC Brokers – Competitive Spreads
- Aetos – Good Trading Conditions
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 Points||PhillipCapital Weak Points|
|Regulated broker with safe trading conditions||Regulatory standards and protection vary based on the entity|
|Segregated bank accounts|
|Negative balance protection|
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.
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.
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.
|Fast account opening||Account types and proposals may vary according to jurisdiction|
|Demo account is available||The 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 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 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.
|Fees||PhillipCapital Fees||Valutrades Fees||ATC Brokers Fees|
|Fee ranking||Low||Low||Low, Average|
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/ Pair||PhillipCapital Spread||ATC Brokers Spread||Valutrades Spread|
|EUR USD Spread||0.6 pips||0.3 pips||0.1 pips|
|Crude Oil WTI Spread||4.1||3||1 pip|
|Gold Spread||3.8||7||1 pip|
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 Advantage||PhillipCapital Disadvantage|
|No internal fees for deposits and withdrawals||Methods and fees vary in each entity|
|Fast digital deposits||Minimum 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|
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:
- Login to your account
- Select Withdraw Funds’ in the menu tab
- Enter the withdrawn amount
- Choose the withdrawal method
- Complete the electronic request with necessary requirements
- Confirm withdrawal information and Submit
- Check the current status of withdrawal through your Dashboard
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:
|Platforms||PhilipCapital Platforms||ATC Brokers Platforms||Valutrades Platforms|
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 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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