Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

PhillipCapital UK Review

5
1 reviews
PAYMENT SYSTEMS
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PhillipCapital UK general information

Founded in: 1975 year
Headquarters:
United Kingdom
Offices in the country: Australia
Minimum Deposit: 200 $
Website: www.phillipcapitaluk.com
Website languages: English, Italian
Execution model:
NDD
Deposit currency: USD, EUR, GBP, AUD
Support languages: English
Regulated by:
ASIC (Australia) license №AFSL 246827
FCA (United Kingdom) license №169760
Mobile trading: iOS, Android
Types of offered accounts:
Unlimited Demo accounts, Standard accounts, Segregated accounts
Affiliate program: Yes

PhillipCapital UK Forex broker description

PhillipCapital UK Broker was established in 2015 and is a brand of King and Shaxons, an acquisition that was made by parent firm PhillipCapital in 2002. The move by PhillipCapital Ltd to develop a Forex trading platform in the United Kingdom market was part of the brand overall retail Forex service growth plan to spread its wings from Asia into the UK and to the large European market. Want to know more about the broker? A quick glance at PhillipCapital UK customer reviews and comments will give you a clearer picture of the broker.

As a premium broker, PhillipCapital UK is not about hype but quality services and substance. This is clear since it depends more on its gained reputation as opposed to marketing tactics to get more clients.

Trading Accounts

PhillipCapital UK provides its brokerage services and products in 4 different kinds of accounts. Traders can easily open one of the following accounts:

Standard Account

With the minimum deposit set at $650, the PhillipCapital UK’s Standard Account is the smallest account offered by the broker. The account has a spread that starts from 0.8 pips for access to indices, CFDs, commodities, and Forex. Even if it is the smallest account offering, it is still more expensive when you considered that other firms offer a minimum deposit of about $5. However, the spread is impressive and traders can expect to enjoy tight spreads no matter the market conditions.

Trader Account

Another type of account that traders can open is called the Trader Account. The account is available for only $1,300 and has a lower spread of 0.6 pips as well as full VPS/VPN subscription. All other terms of trade are similar to the Standard Account.

Premium (Spread) Account

Traders looking for a more competitive pricing for their Forex trading can open a Premium (Spread) Account that offers 0.6 spreads with the possibility of getting a cash rebate. The cash rebate is provided according to the trader's accounts and the minimum deposit is an amazingly $13,000. Although this might not seem like a hefty amount for regular STP account holders, it is enormous for small traders that want to save on cost.

Premium (Commission) Account

The last account at PhillipCapital Uk is the Premium (Commission) Account that also qualifies a hefty $13,000. It has ECN-like trading terms with spreads beginning from 0 pip in trade for a minimal commission for every trade. 

Account holders can use a maximum leverage of 1:400 for all Forex products, which usually reduce as the account gets more equity.

About PhillipCapital and Security of Funds

To begin, its parent firm is an organization with over 40 years of experience in this industry. PhillipCapital also has an international presence in at least 16 countries and is presently serving over a million clienteles worldwide. Furthermore, PhillipCapital has over 300 staff and about $28 billion worth of assets that it manages for clients globally.

PhillipCapital UK is a Forex broker that is controlled by the Financial Conduct Authority, under the stick regulations and rules set by the MiFID and the European Central Bank. Although the UK is not a part of EU, the FCA still has a close relationship with other EU regulators for developing a safe trading environment for traders across the world.

If need be, the UK brokers are susceptible to governing sanctions form other reputable regulatory firms in the EU for failure to follow the standard code of behavior prescribed for all financial institutions operating in EU.

With that said, it is ideal to note that PhillipCapital UK customers funds are were secured since FCA-controlled brokers also fall under the Financial Services Compensation Scheme, which covers clients up to $50,000.

Trading Conditions and Platforms

Minimum Deposit

The minimum deposit set by PhillipCapital UK is $650, which is too high when compared with other brokers in the UK. For instance, FxPro, a UK-based forex broker, requires only $500 as a minimum deposit, while Price Markets and FXopen and others demand as little as $1 from traders. Therefore, the minimum deposit requested by the broker is extremely high.

Leverage

The broker also offers a slightly high maximum leverage that is set at 1:400 (a slightly high ratio). For instance, FXCM provides a ratio of 1:200 while FxPro provides a ratio of 1:500. Other brokers, including XM, provide a maximum ratio of 1:888.  However, traders need to be careful since high leverage rates might mean heavy losses or high profits. This is why limitation on this ratio is set in most jurisdictions as 1:25 in Japan, 1:100 in Poland, and 1:50 in the US.

Spreads and Commissions 

PhillipCapital UK provides a relatively low average spread of 0.8 pips on USD/EUR (on Trader Accounts). The spread on Standard Account is slightly higher since it includes the broker’s markup, but the account is free of commission. The Premium Account provides the least spread that starts from 0 pip on USD/EUR, however, it has a commission charge of 0.6 pip for every round turn. Just to have an idea of how PhillipCapital UK compares to other brokers in the industry, FxPro provides a spread of 1.4 pips for the MT4 account and is commission-free. It also offers a 0.4 pip for its cTrader accounts, but it attracts a $4.5 commission per stands lot.

Trading Platforms

Unlike PhillipCapital Ltd, PhillipCapital UK does not provide any in-house platforms, just the industry MetTrader4. This platform provides everything that traders require: automated strategies, advanced charting, build-in technical analysis tools, and extensive back-testing environment.

Promotions

PhillipCapital UK takes its customer seriously and it rewards them for their loyalty when they introduce their friends. This means that a trader can be rewarded with $200 for introducing a friend to PhillipCapital UK. Also, they stand a chance to enjoy low fees and great rates. Simply inform the customer support team to enjoy these promotions.

Briefly about PhillipCapital UK Broker

While the PhillipCapital UK might not be the most famous broker on the internet today, it is still a reputable firm that has a lot of experience in Forex trading. Those who are beginners in online trading business and are in need of a reliable broker can count on PhillipCapital UK. It is a great firm to that can help new traders. 

Trading accounts of PhillipCapital UK

  • Phillip Account (UK)
  • Phillip Trader (UK)
  • Premium (Spread)
  • Premium (Commission)
Trading platforms: MetaTrader 4, Meta Trader 4 Mobile
Minimum Deposit : 200 $
Deposit currency :
USD - US Dollar
EUR - Euro
GBP - British Pound
AUD - Australian Dollar
Trading instruments:
Forex 1:400
Number of currency pairs: 37
  • AUD/CAD
  • AUD/CHF
  • AUD/JPY
  • AUD/NZD
  • AUD/SGD
  • AUD/USD
  • CAD/CHF
  • CAD/JPY
  • CAD/SGD
  • CHF/JPY
  • CHF/SGD
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/GBP
  • EUR/JPY
  • EUR/NZD
  • EUR/SGD
  • EUR/USD
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/JPY
  • GBP/NZD
  • GBP/SGD
  • GBP/USD
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY
  • NZD/SGD
  • NZD/USD
  • SGD/JPU
  • USD/CAD
  • USD/CHF
  • USD/JPY
  • USD/SGD
  • USD/ZAR
CFD's 1:400
Amount of assets : 59
  • Indices
Metals 1:400
  • Gold
  • Silver
Energy sources 1:400
  • Oil
  • Gas
Stop Out:
50 %
Minimum position size:
0.1
Maximum position size:
50
Execution type:
Market Execution
Swap Free:
No
VIP Account:
No
Spread type:
Floating
Decimal places:
4 decimal places
Margin Call:
100 %
Phone trading:
No
Trading platforms: MetaTrader 4, Meta Trader 4 Mobile
Minimum Deposit : 1000 $
Deposit currency :
USD - US Dollar
EUR - Euro
GBP - British Pound
Trading instruments:
Forex 1:400
Number of currency pairs: 37
  • AUD/CAD
  • AUD/CHF
  • AUD/JPY
  • AUD/NZD
  • AUD/SGD
  • AUD/USD
  • CAD/CHF
  • CAD/JPY
  • CAD/SGD
  • CHF/JPY
  • CHF/SGD
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/GBP
  • EUR/JPY
  • EUR/NZD
  • EUR/SGD
  • EUR/USD
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/JPY
  • GBP/NZD
  • GBP/SGD
  • GBP/USD
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY
  • NZD/SGD
  • NZD/USD
  • SGD/JPU
  • USD/CAD
  • USD/CHF
  • USD/JPY
  • USD/SGD
  • USD/ZAR
CFD's 1:400
Amount of assets : 59
  • Indices
Metals 1:400
  • Gold
  • Silver
Energy sources 1:400
  • Oil
  • Gas
Stop Out:
50 %
Minimum position size:
0.1
Maximum position size:
50
Execution type:
Market Execution
Swap Free:
No
VIP Account:
No
Spread type:
Floating
Decimal places:
4 decimal places
Margin Call:
100 %
Phone trading:
Yes
Trading platforms: MetaTrader 4, Meta Trader 4 Mobile
Minimum Deposit : 10000 $
Deposit currency :
USD - US Dollar
EUR - Euro
GBP - British Pound
Trading instruments:
Forex 1:400
Number of currency pairs: 37
  • AUD/CAD
  • AUD/CHF
  • AUD/JPY
  • AUD/NZD
  • AUD/SGD
  • AUD/USD
  • CAD/CHF
  • CAD/JPY
  • CAD/SGD
  • CHF/JPY
  • CHF/SGD
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/GBP
  • EUR/JPY
  • EUR/NZD
  • EUR/SGD
  • EUR/USD
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/JPY
  • GBP/NZD
  • GBP/SGD
  • GBP/USD
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY
  • NZD/SGD
  • NZD/USD
  • SGD/JPU
  • USD/CAD
  • USD/CHF
  • USD/JPY
  • USD/SGD
  • USD/ZAR
CFD's 1:400
Amount of assets : 59
  • Indices
Metals 1:400
  • Gold
  • Silver
Energy sources 1:400
  • Oil
  • Gas
Stop Out:
50 %
Minimum position size:
0.1
Maximum position size:
50
Execution type:
Market Execution
Swap Free:
No
VIP Account:
No
Spread type:
Floating
Decimal places:
4 decimal places
Margin Call:
100 %
Phone trading:
Yes
Trading platforms: MetaTrader 4, Meta Trader 4 Mobile
Minimum Deposit : 10000 $
Deposit currency :
USD - US Dollar
EUR - Euro
GBP - British Pound
Trading instruments:
Forex 1:400
Number of currency pairs: 37
  • AUD/CAD
  • AUD/CHF
  • AUD/JPY
  • AUD/NZD
  • AUD/SGD
  • AUD/USD
  • CAD/CHF
  • CAD/JPY
  • CAD/SGD
  • CHF/JPY
  • CHF/SGD
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/GBP
  • EUR/JPY
  • EUR/NZD
  • EUR/SGD
  • EUR/USD
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/JPY
  • GBP/NZD
  • GBP/SGD
  • GBP/USD
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY
  • NZD/SGD
  • NZD/USD
  • SGD/JPU
  • USD/CAD
  • USD/CHF
  • USD/JPY
  • USD/SGD
  • USD/ZAR
CFD's 1:400
Amount of assets : 59
  • Indices
Metals 1:400
  • Gold
  • Silver
Energy sources 1:400
  • Oil
  • Gas
Stop Out:
50 %
Minimum position size:
0.1
Maximum position size:
50
Execution type:
Market Execution
Swap Free:
No
VIP Account:
No
Spread type:
Floating
Decimal places:
4 decimal places
Margin Call:
100 %
Commission:
Yes
Phone trading:
Yes
Open real account or open demo account with PhillipCapital UK

Contacts of PhillipCapital UK

Headquarters
United Kingdom , London Cannon Street, 120
show on the map
+44 (0) 207 398 3100 Headquarters telephone

Recent customer reviews of PhillipCapital UK

Philip Dawe 16 March 2019

Advantages: A lot Advantage

Disadvantages: no

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Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.
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