Overall PhillipCapital UK can be summarised as a credible and trustworthy broker with a high overall rating of 7 out of 10. PhillipCapital UK is regulated by the Finance Conduct Authority (FCA) and offers leverage of 1:400.
PhillipCapital UK at a Glance
| 🔎 Broker’s Name | PhillipCapital UK |
| 📍 Headquartered | United Kingdom |
| 📅 Year Founded | 1975 |
| ⚖️ Regulating Authorities | Financial Conduct Authority (FCA) |
| 🌐 Countries not accepted for trade | United States |
| ☪️ Islamic account (swap-free) | Yes |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 1:400 |
| 💰 Minimum Deposit | $200 / R 3 317,20 |
| 💳 Deposit Options | Credit card Debit card Visa MasterCard Maestro Bank Transfer Cheque (the UK only) |
| 💳 Withdrawal Options | Credit card Debit card Visa MasterCard Maestro Bank Transfer Cheque (the UK only) |
| 💻 Platform Types | MetaTrader 4, CQG, Poems, TT |
| 📱 OS Compatibility | Windows, Mobile, Web, iPhone, iPad PC and Mac OS, mobile for Android and IOS |
| 📈 Tradable assets offered | Forex Commodities CFDs Index Stock CFDs |
| 👨💼 Languages supported on Website | English, Italian |
| 👥 Customer Support Languages | English, Italian |
| 📆 Customer Service Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
PhillipCapital UK Review – 18 key points quick overview:
PhillipCapital UK Overview
According to research in South Africa, PhillipCapital UK is part of the PhillipCapital Group of companies that was founded 40 years ago in Singapore. Today the Group has offices in 16 countries and over $1 billion in shareholder funds.
Since 1975, the PhillipCapital network has grown into a financial powerhouse with a global presence that offers a full range of quality and innovative services to retail, high-net-worth individuals, elective professionals, and professional and institutional customers.
The Group has a global network of 5 000 employees, over 1 million clients worldwide, assets under custody and management totaling more than USD 35 Billion, and shareholders’ funds in excess of USD 1.5 Billion.
The PhillipCapital UK branch was launched in 2015, with the purpose of achieving group expansion and with the target of spreading the circle of Forex services. PhillipCapital continues to grow globally with PhillipCapital UK.
Based in London’s financial hub and regulated by the Finance Conduct Authority (FCA), it offers online trading services in a range of financial instruments including CFDs, FX, and Commodities both for investing and hedging, allowing investors to diversify their portfolios.
The overall trading process is performed on a well-established financial service basis, while PhillipCapital UK operates in close binding with liquidity providers and STP execution. They can obtain better rates than other industry competitors.
PhillipCapital UK Safety and Security
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 the Financial Conduct Authority, UK.
FCA is one of the leading world authorities in terms of the regulatory requirements and set of rules each licensed broker is obliged to respect.
Therefore, PhillipCapital UK follows strict standards of regulation, and its clients’ money is stored in segregated accounts with reputable Banks, while the money is held and reconciled daily.
All financial processes are fast and accurate, and payments are usually received by the client within five working days through sharp and strong procedures and operations regarding their management and safety.
PhillipCapital UK Sign-up Bonus
Traders who choose to register for a real account with PhillipCapital UK will not be able to apply for a welcome bonus.
PhillipCapital UK is an established online Forex broker that is regulated by the Financial Conduct Authority (FCA), one of the leading regulators in the industry.
The FCA, along with several European and other leading international regulators, have placed a broad-based ban on the offering of broker bonuses as part of extended client protection measures.
Once an account has been opened with a Forex broker, clients will have access to trading of currency pairs, and will therefore have to incur some expense for this trading. The bonus is just a way for the broker to reward the trader’s choice and give all or some of these expenses back to the trader.
New traders should note however these bonuses are not available on demo accounts, though many brokers do offer the opportunity to sign up for a free demo contest, with prizes available.
PhillipCapital UK Minimum Deposit
The minimum deposit amount required to open a broker account with PhillipCapital UK is $200 / R 3 317,20. Traders who wish to open one of the two Premium Account options will have a minimum deposit of $1000 / R 16 538.
As such, this deposit amount is higher than that required by many other brokers in the industry. However, PhillipCapital UK appears to position itself more towards experienced and institutional traders.
A step-by-step PhillipCapital UK guide to depositing the minimum amount
Traders can deposit into their accounts using the following steps:
Step 1 – Log in
- Log in to your account in the Client Section
Step 2 –Make the deposit
- Select the option to fund your account
- Specify the amount you wish to deposit and select your preferred deposit method
- Confirm your details and submit your deposit
PhillipCapital UK Account Types
PhillipCapital UK has four account types, consisting of the Standard Account, Trader Account, Premium Spread Account, and Premium Commission Account. Accounts can be opened by retail, corporate and institutional clients.
PhillipCapital UK also offers a free demo account that will allow users to test out the features of the broker’s various trading platforms. PhillipCapital UK does not offer the option of an Islamic Account.
Institutional, Corporate, and Fund clients can structure accounts in a way that best supports their business, including multiple sub-accounts, margin offset, and full segregation of funds.
PhillipCapital UK can provide clients with execution and clearing services across a variety of asset classes including Exchange Traded Futures & Options, Base Metals, Retail FX, and CFDs.
PhillipCapital UK offers Individual clients flexible minimum deposit requirements and can, depending on their regulatory status, take advantage of different leverage ratios.
PhillipCapital UK Account Features
Standard Account
The Standard Account from PhillipCapital UK can be opened with a minimum deposit of $200 and is designed for standard retail traders.
Spreads on this account start from 0.8 pips with trading on a variety of assets, including indices, CFDs, commodities, and Forex.
Trader Account
The Trader Account from PhillipCapital UK has a minimum deposit of $1000 and has an even lower spread of 0.6 pips than the Standard Account. The Trader account also provides a full VPS/VPN subscription.
Phillip Premium Spread Account
The Premium Spread Account from PhillipCapital UK offers a more competitive pricing structure with spreads from 0.6 pips coupled with the possibility of a cash rebate, which is awarded according to your trading activity.
However, the account has a minimum deposit of $13 000, which may be too high for most standard retail traders.
Phillip Premium Commission Account
The Premium Commission Account from PhillipCapital UK also has a high minimum deposit requirement of $13 000 but comes with low spreads starting at 0 pips and a true ECN trading environment.
A competitive commission is applied to each trade on this account, and professional traders who hold his account can get access to a maximum leverage ratio of 1:400.
How to set up a PhillipCapital UK Demo Account – Step by Step
A prospective client of PhillipCapital UK can open a free demo account with the following simple steps:
Step 1 – Open Your Account
- Navigate to the Phillip Capital UK website and select the option to speak to a live chat agent.
- Traders must provide their names and email address to proceed.
Step 2 – Fill out the form
- Once connected, the trader can ask the agent to help them set up a demo account.
- The agent will ask the trader which product they wish to trade, between forex, CFDs, commodities, and indices.
- Once the trader provides their choice in a financial instrument, the agent will proceed to register the demo account on behalf of the trader.
- This only takes a minute to complete and once done, the agent will provide the trader with their MetaTrader 4 login name, password, and server for the Phillip Capital UK demo account. In addition, the agent will also provide the download link to the MetaTrader 4 trading platform.
A forex demo account is also referred to as a practice account, which is used for practicing trading or to test a new trading strategy without any risk to actual money.
A forex demo account is also intended for beginners to get familiar with the various aspects of trading.
As such, a demo account will allow traders to learn how to place orders, and manage existing trade positions as well as more advanced functions such as testing or fine-tuning a trading strategy.
If you are new to trading, then it is highly recommended that you first open a forex demo account until you are comfortable with both your trading strategy as well as the intended trading platform itself.
PhillipCapital UK Islamic Account
PhillipCapital UK does not offer the option of an Islamic Account at this stage. This is a drawback since an Islamic account fulfills a significant role for traders of the Muslim faith.
Also known as ‘no swap accounts’, Islamic trading accounts allow Muslims to engage in online forex trading in compliance with Sharia law.
With 25% of the world’s population practicing the Islamic faith, Islamic forex trading has continued to gain popularity worldwide.
Essentially, an Islamic forex trading account charges no swap or rollover interest on positions held overnight in the forex market. An administration fee is, however, charged on some accounts to open positions.
PhillipCapital UK Trading Platforms
When trading with PhillipCapital UK you can choose between the standard MetaTrader4 and ZuluTrade.
MT4
MT4 is known among most traders and allows you to start immediately without prior education due to its customer-friendly features.
The MT4 platform is available in formats suitable for desktop, mobile, or tablet trades while offering mobility and ease of use to traders of any style.
When trading on MT4 with PhillipCapital UK, you can be sure of support all the way. The MetaTrader 4 trading platform is designed for Forex and Futures trading.
You can analyze financial markets, perform advanced trading operations, run trading robots (Expert Advisors) and copy the deals of other traders.
Added to this, PhillipCapital UK wants to provide efficient and fair trading, hence it improved the platform with powerful insights.
These include access to investment research information provided by Trading Central, real-time news from Market News International, and access to MT4 Expert Advisors and FxWirePro™.
ZuluTrade
You can also use the automated trading platform, the first Social Trading Platform, ZuluTrade. Founded in 2007, ZuluTrade is the world’s first and leading online and mobile Social Trading platform.
ZuluTrade enables you to locate successful traders that are ranked by ZuluRank, a proprietary performance evaluation algorithm, and follow their trades in real-time. These trades are translated into real trades in your own PhillipCapital UK accounts
While ZuluTrade enables you to locate successful traders ranked by ZuluRank and evaluate the algorithm, you can also translate all trades to your own PhillipCapital account.
With PhillipCapital UK you always have the option to execute your trading orders either through the MetaTrader4 or ZuluTrade platforms.
PhillipCapital UK Fees and Spreads
Traders with PhillipCapital UK can expect the following spread list:
PhillipCapital UK has relatively tight spreads that vary depending on the account type, as follows:
Standard Account: spreads from 1 pip, no commissions
Trader Account: spreads from 0.6 pips, no commissions
Phillip Premium Spread Account: spreads from 0.1 pip
Where commissions are charged, these average at $4.5 commission per standard lot.
PhillipCapital UK Deposit and Withdrawal
PhillipCapital UK offers various payment methods once the account is open, however, only uses the most standard options and it does not accept e-wallet payments or credit card payments.
The broker supports payments via Debit card (Visa, MasterCard, Maestro) / Bank Transfer/check (the UK only).
The minimum deposit amount is set to $200, EURO or GBP, as this will allow you to subscribe to the first category of the offered PhillipCapital accounts.
There are no applicable withdrawal fees or deposits respectively, while base account currencies include GBP / EUR / USD.
Traders should however note that the company holds a £15 per month inactive fee, for accounts that are inactive for six months until the account balance is 0.
To withdraw money, traders have the option of requesting a withdrawal through your MyPhillip area
PhillipCapital UK vs Etoro vs XM – Comparison Table
| 🔎 Broker | 🥇PhillipCapital UK | 🥈 eToro | 🥉 XM |
| 💰 Minimum Deposit | $200 / R 3 317,20 | $1000 USD | $5 USD |
| 📝 Sign-Up Bonus | No | ☑️ Yes | ☑️ Yes |
| ➕ Max. Leverage | 1:400 | 1:400 | 1:888 |
| 💵 Currency Pairs | – | 47 | 57 |
| 🚀 Open an Account | 👉 Click Here | 👉 Click Here | 👉 Click Here |
PhillipCapital UK Pros and Cons
| ✔️ Pros | ❌ Cons |
| 1. Regulated by FCA authority | 1. Limited range of instruments |
| 2. Minimum deposit of $1 | 2. Does not offer Islamic accounts |
| 3. Segregated client fund | 3. Hardly any education offered |
| 4. Long-established company | 4. Limited range of market instruments |
| 5. Do not accept US clients | |
| 6. Not a user-friendly website | |
| 7. No e-Wallet payments are accepted |
Conclusion
Overall, PhillipCapital UK can be summarised as a credible and trustworthy broker and is considered an average risk with competitive trading fees and spreads. PhillipCapital UK offers traders the MetaTrader suite of platforms. PhillipCapital UK is Based in London’s financial hub and regulated by the Finance Conduct Authority (FCA).
Disclaimer
PhillipCapital UK Limited (Company Number: 2863591) has its registered office on the 3rd Floor, 12-14 Mason’s Avenue, London EC2V 5BT.
It is registered in England and part of the PhillipCapital Group and is Authorized and Regulated by the Financial Conduct Authority, 12 Endeavour Square, London E20 1JN. (Reference Number: 169760)
Whilst every effort has been made to ensure the accuracy of the website, this information is subject to change, often without notice, and therefore is for guidance only. If you ever have any questions, please contact PhillipCapital UK directly.
This website has been drafted in the English language but may be translated by Google Translate or other translation means.
Where the website has been translated, in the event of any discrepancy between the meaning of the translated version of the website and the English language version, the English language version shall prevail.
In addition to the terms of business, PhillipCapital UK offers several other policies and notices that you may wish to browse before opening an account.
These notices provide information on how the company complies with its regulatory obligations to its clients and on the risks associated with trading margined products.
Risk notice: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.5% of retail investor accounts lose money when trading CFDs with this provider.
It would be best if you considered whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Telephone calls and online chat conversations may be recorded and maintained.
The company’s site information is not directed at residents of the United States of America and is not intended for distribution to or for use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation, according to research in South Africa.
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Risk Management
PhillipCapital UK is a financial services company that offers a variety of products and services including trading and investment services. They have a risk management team that is responsible for overseeing and managing the risk associated with the firm’s investment and trading activities.
This can include monitoring market conditions, assessing potential risks, implementing risk control measures, and ensuring compliance with regulatory requirements. The goal of PhillipCapital UK’s risk management team is to minimize potential losses and protect the interests of its clients.
Frequently Asked Questions
How many instruments can I trade with PhillipCapital UK?
PhillipCapital UK offers more than 60 trading instruments in the following asset classes:
- Forex
- CFDs
- Metals
- Energies
Does PhillipCapital UK offer leverage?
Yes. PhillipCapital UK offers flexible leverage of up to 1:30, in line with ESMA regulations. Those who qualify as professional clients can apply for a professional account which gives increased leverage for certain instruments and a reduction on current margin rates.
Which platforms are supported by PhillipCapital UK?
MetaTrader 4, CQG, Poems, TT
Is PhillipCapital UK a recommended forex trading broker for experts and beginners?
PhillipCapital UK offers a fair-trading environment for most types of traders.
What is the overall rating out of 10 for PhillipCapital UK?
7/10
Featured SA Shares Writer and Forex Analyst.
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