PhillipCapital UK – Account Types

PhillipCapital UK has four account types, consisting of the Standard Account, Trader Account, Premium Spread Account, and Premium Commission Account. The minimum deposit required to open an account is $200 / R 3 317,20

PhillipCapital UK at a Glance

Overall Rating

• 3.5/5

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OPEN AN ACCOUNT

Min Deposit

USD 200

Regulators

FCA

Trading Platform

MT4, CQG, Poems, TT

Crypto

No

Total Pairs

0

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

PhillipCapital UK  Account types – 9 key points quick overview:

1. PhillipCapital UK at a Glance
2. PhillipCapital UK  Account types – 9 key points quick overview:
3. PhillipCapital UK Overview
4. PhillipCapital UK Account Types
5. PhillipCapital UK Account Features
6. PhillipCapital UK Demo Account
7. PhillipCapital UK Islamic Account
8. PhillipCapital UK Pros and Cons
9. Frequently Asked Questions

PhillipCapital UK Overview

PhillipCapital UK forms part of the PhillipCapital group which was established in 1975 and has grown into a well-established and reputable online Forex trading broker.

PhillipCapital UK provides access to Forex and CFDs, Exchange Traded Futures, Options, and Base Metals which can be traded on a variety of advanced trading platforms.

Using the MetaTrader 4 platform, clients have access to Forex, index, and commodity CFDs coupled with low financing charges which are derived from the broker’s broad-based access to top-tier liquidity providers.

Clients can trade exchange-traded futures and options on the worldwide exchange through PhillipCapital UK’s strong network of affiliate and agent brokers for access to all major products.

These products and instruments can be traded on either the TT or CQG platforms, with the added benefits of FIX order routing to allow for direct access to your chosen brokerage desk.

The CQG platform is well-regarded for its reliable performance complemented by an innovative range of trading features that include accurate global market data, professional analytical tools, and advanced order routing.

The TT platform has been in use since 1994 and has become highly popular with professional traders for its speed, reliability, and customization.

Base metals are provided to clients of PhillipCapital UK through the broker’s Category 4 membership of the London Metal Exchange which allows for the full range of LME products including options and averaging in all listed currencies.

In addition to traditional phone brokerage, Phillip Capital UK can provide clients with Direct Market Access to the LME Select Platform.

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.

With these accounts, traders are offered a prominent level of deposit security as well as a safe trading environment due to the broker’s high regulatory status.

PhillipCapital UK is regulated by the Financial Conduct Authority (FCA), which places it under the strict regulations of the MiFID and the European Central Bank. The FCA works closely with other EU regulators to develop sound protection measures for investors.

Funds deposited with PhillipCapital UK are held in segregated accounts with top-tier banks and are insured under the Financial Services Compensation Scheme, which covers clients up to $50,000.

The main drawback of PhillipCapital UK is the higher minimum deposit requirements on certain accounts, which may be too high for standard retail traders, as well as the lack of adequate educational resources to fully support beginner traders.

That said, PhillipCapital UK appears to position itself toward experienced and professional retail and institutional clients who are better equipped to operate the broker’s advanced trading features on its platforms and afford some of the higher minimum deposit requirements.

While the broker offers excellent spread conditions and commission-free trading, smaller and beginner retail traders may find an unaccommodating trading environment at PhillipCapital UK.

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 the 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.

PhillipCapital UK Demo Account

The PhillipCapital UK demo account will allow users to test out the broker’s platform features, of which there are four, namely CQG, Poems, TT, and MetaTrader 4.

Included in the trading features which can be tested are professional analytical tools, advanced order routing, connectivity to over 15 exchanges, and other customizable features.

The demo account is funded with virtual currency to test these features in a live market environment without having to risk your own money before signing up for a live account.

A prospective client of PhillipCapital UK can open a free demo account with the following simple steps:

• Navigate to the PhillipCapital UK official website
• Click on the button indicating “Create a Free Demo Account”
• You will be redirected to an online registration portal. Complete the fields with the required information, including your name, contact details, and practice account preferences
• Read and accept the terms and conditions
• Submit your registration and you will receive your login details

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 Pros and Cons

Conclusion

PhillipCapital UK has four account types, consisting of the Standard Account, Trader Account, Premium Spread Account, and Premium Commission Account. The minimum deposit required to open an account is $200 / R 3 317,20

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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

Which platforms are supported by PhillipCapital UK?

MetaTrader 4, Poems, CQG, and TT.

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.

Does PhillipCapital UK have ZAR accounts?

No PhillipCapital UK does not have a ZAR Account Currency

What is the overall rating out of 10 for PhillipCapital UK?

The overall rating is 7/10