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Phillip Capital Inc. (PhillipCapital) is a broker that is part of the PhillipCapital group based in Singapore since 1975.
The broker was established in 2010 as a futures trading broker. The company is a member of CME, CBOT, COMEX, NYMEX, ICE Futures US, CFE, NFX, ICE Futures EU and DME. In addition, the broker provides access to all major Asian exchanges and global exchanges through the PhillipCapital network of companies. The company is headquartered in Chicago, Illinois, in the historic Chicago Chamber of Commerce building.
The PhillipCapital group of companies spans 16 countries and offers a full range of financial services, including trading in futures, foreign exchange, stocks, bonds, mutual funds, real estate and insurance. The company's share capital is over USD 1 billion.
Although the PhillipCapital Group was originally established in Asia, the company has expanded significantly to date and has offices in financial center countries such as the United Kingdom and the United States. PhillipCapital Group employs over 3,500 people worldwide, with offices in Singapore, Hong Kong, China, India, Japan, Malaysia, Thailand, Indonesia, Cambodia, Sri Lanka, United Kingdom, France, Australia, Turkey and Dubai.
CFD trading
PhillipCapital trades CFDs online, providing access to the Asian, European, American, Australian (ASX) and Singapore (SGX) exchanges with the ability to trade instruments such as indices and commodities.
Orders are executed at the best price on the market thanks to DMA technology.
PhillipCapital offers its clients a variety of feature-rich platforms that allow users to trade multiple instruments across 18 global exchanges. As one of the largest financial institutions in Asia, the company provides its clients with some of the best analytical and charting tools.
Phillip CFDTrader
A platform that provides many options for charting. Various types of orders are available, such as stop loss and limit orders. Traders who trade on the platform get access to data containing financial ratios and reports, to a wide range of indicators, video tutorials, learn how to work on the terminal, they can customize the platform for themselves, including setting notifications about orders and prices.
MetaTrader4
The most widely used trading platform in the world. Traders gain access to advanced charting tools that include a wide range of drawing tools and technical analysis indicators, automated trading strategies using MT4 advisors (EA). They can be programmed to alert you to specific buy or sell signals directly from market charts. You can choose from a wide range of predefined strategies or create your own.
Accessing the platform through the MT4 mobile app allows you to manage your trading position on the go, and also allows you to access live charts and prices.
Forex trading
The FX365 trading platform provides traders with highly competitive spreads and the most advanced user-friendly technology. Some of the features of this trading platform include:
Free demo account with $ 100,000 virtual money. Spreads start at 0.4 pips with direct quotes from major international banks. The ability to hide stop losses. Leverage up to 1: 100. High-speed trading. VPS hosting through the company's trading resources.
Spreads and commissions
This broker offers relatively low average spreads of 0.8 pips on EUR / USD (on Phillip Trader accounts). The spreads on a standard Philip account are higher. The PhillipCapital UK Premium Premium account offers lower spreads (starting at 0.0 pips in EUR / USD), but includes a 0.6 pip commission.
PhillipCapital offers extremely competitive spreads and fees on all of its tradable instruments as well as DMAs on all of its CFD products.
Support service
Available by phone, fax, e-mail.
Ways of payment
Unlike most Forex brokers, PhillipCapital UK does not offer electronic payment systems like Neteller, Skrill, PayPal, etc. Payment methods available from the broker:
debit card (Visa, MasterCard, Maestro); bank transfer.
Pros:
low spreads; regulated broker; MT4 is available.
Minuses:
high initial deposit; does not offer electronic wallets for payment.
PHILLIPCAPITAL is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.
In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.
As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.
PHILLIPCAPITAL profits from traders' trades, usually in two main ways
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First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.
The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.
Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.
The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.
The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points – it is the place of registration and regulation of the company's activities.
First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.
On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.
No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.
Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.
Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.
Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Companies who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the company you chose. PHILLIPCAPITAL received a score of 1 of 5 on our resource.