What Account Types and Fees Does Phillip Futures Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners to intermediate traders |
Low spreads, access to various markets |
Minimum deposit of $500 required |
| Professional Account |
Experienced traders |
Higher leverage, tailored services |
Requires meeting specific trading volume criteria |
| Corporate Account |
Corporate clients |
Customizable solutions, dedicated support |
Corporate documentation needed |
| Islamic Account |
Traders requiring Sharia-compliant options |
Swap-free trading conditions |
Available upon request |
| Demo Account |
All traders for practice |
Access to simulated trading environment |
No minimum deposit required |
Account Opening Process
Opening an account with Phillip Futures is a straightforward process. First, prospective clients must submit personal information, including full name, date of birth, and contact details. Next, employment and financial information are required to assess suitability for trading. After submitting these details, clients must complete identity verification by providing an identification document and proof of address. Phillip Futures offers flexibility, allowing clients to upgrade to a professional account at a later stage if they meet the necessary criteria.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive pricing for minor pairs |
| CFDs (Dow Jones) |
1.5 |
$5 per lot |
Standard fees for indices |
| CFDs (Crude Oil) |
2.0 |
$5 per lot |
Reflective of market conditions |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Volatility-based fees apply |
Other Fees
Clients should also be aware of several additional costs associated with trading at Phillip Futures. Deposit and withdrawal fees may apply, depending on the payment method used. An inactivity fee is charged if an account remains dormant for an extended period. While no platform usage fees are generally applicable, clients should consider potential overnight interest (swap rates) on positions held overnight. Currency conversion fees may also apply for transactions involving different currencies.
