Phillip Capital Review – What Makes This Broker Special?

Phillip Capital Review

Phillip Capital is a broker that was founded in Singapore almost 40 years ago. It is a part of the Phillip Capital group of companies and has offices set up in 16 countries. The main goal of this broker is to spread knowledge of trading and fair conditions.

It is regulated by FCA which is a world-class authority. This makes it a reliable and transparent broker. This regulatory authority has strict rules and is well known around the world.

Spreads

The spreads at Phillip Capital are very competitive. You can choose between several currency pairs and indices. There is also a variety of liquidity providers. The spreads are relatively low, being 0.7 pips for a EUR/USD spread, 4.1 pips for crude oil, and 3.8 pips for a gold spread.

Leverage

Leverage is an extremely crucial and powerful tool for online trading as it magnifies your profits and even potential losses. Therefore, you should be skilled and know how to use it properly. The leverage here is 1:10 for commodities, 1:20 for small currencies, and 1:30 for major currencies. The leverage levels are determined by the regulation authority as only some of them allow high leverages.

Fees

All your funds are kept in segregated accounts to ensure their safety. The fees at Phillip Capital are built into spreads and are quite competitive since the broker is not presented very widely. There is no deposit or withdrawal fee. An inactivity fee may be charged, but it depends on certain aspects and is ranked quite low compared to other brokers like Swissquote.

Trading account

Phillip Capital offers 4 different types of accounts, which is already more than most brokers. There are more options so you can choose what works best for you and your likings. There is a Phillip account, Philip trader account and two premium accounts. The clients with a premium account exclusively have access to VPS or VPN subscriptions.

Trading platforms

Phillip Capital offers the MT4 platform which is the most popular platform and has the most basic features. This platform can be used on desktop, web, or mobile phones or tablets. The web platform can be used on laptop and mobile, and the Phillip Capital mobile app is available for installation on iOS and Android. The site/app continues to be developed and now there are insights and research material on investments.

Another perk of this broker is access to social trading, which is automated trading. This is done through ZuluTrade. With ZuluTrade you can check traders ranking which is done by ZuluRank. These trades can also be translated into your Phillip Capital account. This allows you to place trade orders through Phillip Capital or ZuluTrade itself.

Deposits and withdrawals

Phillip Capital offers the most common forms of transfers except e-payments. You can deposit funds free of cost through Bank transfer, debit card (credit card not supported), and check. The minimum deposit amount is $5,000. For withdrawal of cash, there is no withdrawal fee. The Base currencies include EUR, USD, and GBP. You should remember there is an inactivity fee of 15 pounds.

Education

This broker is customer-oriented which is why there are tools for beginner traders including educational material and a research center. It is best for beginners as it helps polish their skills and provide them with information they may not have already known. The material provided is comprehensive and definitely helpful to traders.

Conclusion

Phillip Capital has been operating for quite a few decades and has a good reputation in the industry. To keep this image, the broker continues to develop its features and tools along with the changing demands of traders around the world. There are a variety of trading accounts, trading platforms, and trading instruments to guarantee you a good trading experience whether you are a beginner or a professional trader.