Phillip CFD Info
Established In 2007, Phillip CFD Is A Singapore-based Brokerage That Provides Trading Services For Indices, Stocks, Cash Markets, Commodities, And Foreign Exchange CFDs. There Are No Spreads For CFDs And DMA CFDs, While Spreads For Index CFDs Vary Due To Market Fluctuations. The Company Uses The World-renowned MT5 Platform. The Company Also Helps Clients With The Knowledge They Need To Trade Successfully Through Educational Resources Such As Videos, Articles, And Technical Analysis.
In Addition, Promotional Activities Such As Referral Programs, Frequent Trader Programs, Etc. Motivate Different Groups Of Clients.
However, It Is Worth Noting That The Broker Is Not Currently Regulated By Any Regulatory Authority, Indicating A Low Level Of Compliance With Financial Industry Standards.
Pros And Cons
Pros
Multiple Trading Instruments
Demo Account Available
MT5 Platform
No Minimum Deposit Requirement
Cons
Unregulated
Limited Information On Trading
Is Phillip CFD Legal?
This Broker Operates Under The Effective Supervision Of Any Regulatory Authority. This Raises Questions About Its Legitimacy And Credibility, As Regulated Brokers Generally Adhere To Strict Industry Standards To Protect Client Funds.
What Can Phillip CFD Trade?
Phillip CFD Offers A Wide Range Of CFD Products For Investors To Profit From Fluctuations In Market Prices.
CFDs On Stocks: Trade Stocks Without Actual Ownership, And Profits Are Settled Based On The Difference Between The Opening And Closing Prices.
Direct Market Access (DMA) Contracts For Difference: Enjoy The Convenience Of Direct Access To The Cash Market For Faster Trade Execution.
Global Index Contracts For Difference (CFDs): Track And Trade Global Indices To Find Strategic Opportunities Based On Potential Price Movements At The Actual Index Level.
Commodity Contracts For Difference (CFDs): Participate In The Price Fluctuations Of Various Commodities, Including Metals, Energy, And Agricultural Products.
Foreign Exchange Contracts For Difference (FX CFD): Trade Currency Pairs To Profit From Rising And Falling Prices In The Foreign Exchange Market.
Always Adhere To The Principle Of Diversification When Conducting Investment Activities, Allocating Funds To Various Products, Not Just The Single Product You Feel Optimistic About.
Account Types/Fees
Phillip Does Not Disclose Any Information About Its Account Types, But It Mentions On Its Website That It Offers A Demo Account For Practice And Does Not Require A Minimum Deposit Amount To Open An Account.
For Phillip CFD Accounts, There Are No Maintenance Or Administrative Fee Handling Fees. However, If The Credit Balance Is 1 Singapore Dollar Or Less At The Time Of Closing The Account, An Account Closing Fee Of Up To 1.09 Singapore Dollars (inclusive Of GST) Will Be Charged.
Additionally, For CFDs And DMA CFDs, No Extra Spreads Will Be Marked, While For Index CFDs, The Spread Level Will Change According To The Fluctuations And Constant Changes In The Market.
Leverage
Leverage Is A Trading Tool That Enables You To Control Larger Positions With Smaller Capital. It Should Always Be Used With Caution. Risk Management Is Essential For Every Investor. At Phillip CFD, Leverage Levels Are Up To 10x.
Trading Platform
POEMS CFD MT5: MetaTrader 5 Is The Most Popular And Recognized Trading Platform Worldwide. You Get Comprehensive Trading Tools And Low-cost Trading On One Platform.
POEMS PRO: The Platform Claims To Be Designed For Active Traders And Offers An Advanced App-based Trading Experience. Features Include OB Trader's One-click Trading And In-depth Analysis Of Over 40 Technical Indicators.
POEMS 2.0: Fulfills The Daily Trading Needs Of Customers Who Prefer A Browser Experience.
POEMS MOBILE 3: The Improved POEMS Mobile 3 App Provides A Smoother Mobile Trading Experience With Improved Navigation, Intuitive Portfolio Management, And TradingView Charting Capabilities.
Deposits And Withdrawals
You Can Deposit Funds Into Your Phillip CFD Account Via PayNow, FAST, ENETS, EPS, Bill Pay, Internal Funds Transfer, And Telegraphic Transfer. Most Deposits Are Available For Trading Within 15 Minutes During Business Hours.
Withdrawals May Be Requested If The Maintenance Deposit Meets The Requirements. Submitted Requests Will Be Processed By 10am.
Withdrawals Please Submit The Form Via POEMS 2.0 By 10am For Same-day Processing; Check Withdrawals Apply To Processing Fees.
Customer Support
Online Chat
Social Media: Facebook, LinkedIn, Instagram, Twitter
Email: Cfd@phillip.com.sg
Tel: + 65 6336 4564 (Monday To Friday 8:30 Am - 6:00 Pm);
+ 65 6336 3338, + 65 6538 3221 (Monday To Saturday 6:00 Am - 6:00 Am);
+ 65 6336 0407 (Monday To Friday 9:00 Am - 5:00 Pm)
