We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Details
Type of broker | Online |
---|---|
Available markets | 37 currency pairs |
Minimum Spreads for Major Currencies | 0.4-1.0 pips |
Leverage | 100:1 |
Minimum opening balance | $200 |
Platforms | Phillip FX365 and Phillip MT4 |
Support | Phone, email |
Phillip Capital provides a choice of two trading platforms, Phillip MetaTrader 4 (MT4) and Phillip FX365 as well as three account types to suit the needs of different traders. Each trading account is backed by a range of educational features and support from four locations around Australia.
If you're looking to trade currency pairs on global forex markets, Phillip Capital provides access to 37 major, minor and exotic currency pairs. Spreads start from as low as 0.4 pips and leverage goes up to 100:1. Note: Leverages may change from March 2021 following a review by ASIC.
What are the features of Phillip Capital?
When you trade forex with Phillip Capital, you can enjoy the following list of benefits:
37 currency pairs
Phillip Capital allows you to trade 37 currency pairs, including majors like AUD/USD, EUR/USD, USD/CHF and USD/JPY. Minor and exotic currencies are also available, including the Singapore dollar and the Turkish lira.
Two trading platforms
Phillip Capital offers a choice of two trading platforms: Phillip FX365 and Phillip MT4. MT4 is the most popular trading platform in the world and offers advanced charting and mobile trading for added convenience. FX365 suits the needs of active traders by offering one-click trading, advanced order placement and faster processing times.
Three account types
Phillip Capital offers three trading account levels to suit the needs of different traders: Phillip Accelerator, Phillip Gateway and Phillip Horizon. These accounts differ in the spreads they offer to customers and also the minimum opening deposits required.
Tight spreads
You can take advantage of spreads as low as 0.4 pips if you open a Phillip Accelerator Account. The minimum spread rises to 0.6 pips on a Phillip Gateway Account and 1.0 pips on a Phillip Horizon Account. AUD/USD spreads start from 0.6 pips.
Minimum deposit
The minimum deposit required to open a Phillip Horizon Account is just $200. This increases to $5,000 for a Gateway Account and $50,000 for an Accelerator Account.
Mobile trading
Both the MT4 and FX365 platforms offer a mobile trading option, allowing you to place trades whenever and wherever you want.
Regulated in Australia
Phillip Capital is regulated in Australia by the Australian Securities and Investments Commission (ASIC).
What support is available with Phillip Capital?
If you experience a trading problem or have a question about your account, you can get in touch with Phillip Capital customer support by dialling a toll-free number. The provider has offices in Melbourne, Sydney, Adelaide and the Gold Coast. Email support is also available.
A handy online FAQ section is available to help you find the answers to common questions, and there’s a wealth of information on the website explaining the benefits of forex trading and how to get started. Phillip Capital also offers a range of webinars and seminars to its trading clients to help you get more out of your account.
What are the pros and cons of using Phillip Capital?
Make sure to consider the pros and cons of Phillip Capital before deciding whether to open an account:
Pros
- Experienced. Phillip Capital has been offering forex trading around the world for 25 years, so you can trade forex safe in the knowledge that you are dealing with a trusted and experienced provider.
- Segregated client funds. Phillip Capital keeps its clients’ funds segregated and secure in a separate client trust account.
- High-speed execution. Phillip Capital’s servers are located in Equinix NY4 in New York, providing rapid order execution and reduced slippage.
- Mobile trading. Phillip Capital’s mobile trading options mean you can trade on the go and never miss an opportunity.
Cons
- No guaranteed stops. Phillip Capital does not offer guaranteed stops to traders.
- No live chat. There is no online live chat support available if you have a question about your account.
How do I apply for a Phillip Capital account?
If you’d like to open an account with Phillip Capital, you can apply online by clicking one of the links on this page. You’ll need to supply your name, contact details and date of birth as well as specify the type of trading account you would like to open.
The online application takes around 5-10 minutes to complete and, once your application is approved, you can deposit funds into your account and start trading.
Do you have more questions about Phillip Capital?
Is there a demo account available?
Yes, Phillip Capital allows you to open a demo account to try forex trading without any risk and to sample the features of a Phillip Capital account.
What are Phillip Capital’s base currencies?
The provider’s base currencies are AUD and USD, but you can also make deposits in SGD, JPY and HKD.
How do I deposit funds into my account?
You can deposit money into your Phillip Capital account by credit card, debit card and BPAY.
Does Phillip Capital provide forex VPS hosting?
No, this service is not available.
More guides on Finder
-
ThinkMarkets review Australia: Forex, commodities and CFD broker
ThinkMarkets is a UK and Australia based forex and commodities broker that offers competitive fees and spreads plus advanced trading features.
-
AxiTrader review: Forex and commodities broker
Our overview of the fees, platform options, FX spreads and more when you use the AxiTrader forex and commodities trading platform.
-
Blueberry Markets review: ECN forex and CFD broker
Get low FX spreads and zero commissions when you trade global currencies, commodities and indices with one of Australia's best rated brokers.
-
IC Markets: Trade forex and CFDs with one of the world’s largest brokers
IC Markets offers tight forex spreads as low as 0.0 pips and fast execution under 40 milliseconds on average.
-
IG trading platform review: Hands-on look at the IG CFD and forex trading platform
The IG platform is easy-to-use, customisable and offers a suit of news and analysis resources, so it might be a good choice for newbie traders.
-
A forex beginner’s guide to technical analysis
Learn how to use different trading strategies and manage your risk when trading forex and CFDs.
-
Phillip Capital: Trade Australian and global shares and ETFs
With competitive brokerage and the freedom to trade shares on more than 20 international stock exchanges, Phillip Capital share trading is well worth a closer look.
-
easyMarkets cryptocurrency trading – January 2021 review
Your guide to trading bitcoin CFDs on easyMarkets, including everything you need to know to sign up for an account and get started.
-
Review: eToro cryptocurrency trading and CFDs
If you’re thinking of trading cryptocurrency and CFDs on eToro, make sure you check out our comprehensive eToro review first.
-
Pepperstone review: Australian forex and commodities broker
Trade more than 70 currency pairs with this Australian forex and CFD broker.
Ask an Expert