What is Phillip Futures？
Phillip Futures, a member of the PhillipCapital Group established in 1975, offering a comprehensive range of quality financial services to retail, corporate, and institutional clients. Initially focusing on equities broking, PhillipCapital has evolved into a fully integrated financial service provider, diversifying its product offerings over the years. Operating in 16 financial hubs worldwide, including Australia, Singapore, USA, and more, Phillip Futures is committed to delivering innovative solutions to meet the diverse needs of its global customer base.
If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.
Pros & Cons
Pros of Phillip Futures:
- Regulation by Indonesia Commodity and Derivatives Exchange (ICDX) and Badan Pengawas Perdagangan Berjangka Komoditi Kementerian Perdagangan (BAPPEBTI) provides a sense of security and oversight for clients.
- Phillip Futures operates in 16 financial hubs worldwide, including Australia, Singapore, USA, and more. Global presence across multiple financial hubs offers access to diverse markets and opportunities for traders.
- Phillip Futures supports Nova 2.0, MetaTrader 5 and JAFeTS NOW, which caters to different trading preferences and enhances flexibility.
- Demo accounts are available, allowing clients to practice trading strategies without risking real funds.
- With a long history of industry experience since 1975, Phillip Futures possesses a deep understanding of market dynamics, trends, and risk management strategies, which could benefit clients seeking expert guidance and insights.
Cons of Phillip Futures:
- Limited range of payment options restricts convenience for clients in depositing or withdrawing funds.
- Phillip Futures offers a rather high minimum deposit requirement of $500, which could be a barrier for some traders looking to start trading with a smaller initial investment.
Is Phillip Futures Safe or Scam？
Phillip Futures is overseen and licensed by the Indonesia Commodity and Derivatives Exchange (ICDX) and the Badan Pengawas Perdagangan Berjangka Komoditi Kementerian Perdagangan (BAPPEBTI) (License license No.69 /BAPPEBTI/SI/9/2010) for retail forex trading. With a solid regulatory framework in place and a track record of several years in the industry, Phillip Futures has garnered favorable feedback from numerous satisfied clients.
The brokerage firm is known for its commitment to client protection and security, implementing safeguards such as the segregation of accounts. By segregating client funds from the company's operational capital, Phillip Futures ensures that clients' funds are protected in the event of any financial uncertainties.
Based on the above, Phillip Futures is recognized as a dependable and reputable broker, offering a range of protective measures, including segregated accounts, to uphold the trust and confidence of its clients in the financial markets.
Market Instruments
Phillip Futures offers a range of trading instruments across different asset classes, providing traders with diverse options to suit their investment strategies.
- US Stocks: Phillip Futures allows traders to invest in a wide range of US stocks listed on major stock exchanges such as the NYSE and NASDAQ. This enables traders to take positions in individual US companies, benefitting from the potential growth and performance of these companies.
- GOFX: GOFX refers to gold, oil and forex offered by Phillip Futures. Traders can trade major, minor, and exotic currency pairs in the Forex market, taking advantage of fluctuations in exchange rates to make profits.
- Stock Index: Phillip Futures provides access to trading stock index futures, which allow traders to speculate on the performance of a basket of stocks representing a particular market or sector. Stock index trading can provide diversification benefits and allow traders to hedge against market risk.
- Commodity: Phillip Futures offers a variety of commodity trading instruments, including agricultural commodities (such as corn and soybeans), energy commodities (such as crude oil and natural gas), and precious metals (such as gold and silver). Trading commodities enables traders to take positions on the prices of raw materials and natural resources.
- Currency: Apart from Forex trading, Phillip Futures also provides trading instruments for currency futures, allowing traders to speculate on the future exchange rates between different currencies. Currency futures offer opportunities to hedge currency risk and capitalize on currency market movements.
Account Types
Phillip Futures offers two primary types of accounts for traders: Individual Accounts and Corporate Account.
- Individual Account:
The Individual Account is tailored for individual traders who seek to trade financial instruments for personal investment purposes. With a minimum deposit requirement of $500, individuals can open an account with Phillip Futures to access a wide range of trading products, including US stocks, stock indices, commodities, and currencies.
- Corporate Account:
The Corporate Account caters to businesses, institutions, or corporate entities that engage in trading activities as part of their operations or investment strategies. With a higher minimum deposit requirement of $25,000, Corporate Account holders can access specialized services and solutions tailored to meet the unique requirements of corporate clients. This account type allows corporate entities to manage their trading activities efficiently and access a broader range of financial products to meet their investment objectives.
In addition to Individual and Corporate Accounts, Phillip Futures also provides demo accounts for traders who wish to practice and familiarize themselves with the trading platform before committing real funds. Demo accounts offer a risk-free environment where traders can simulate real market conditions and practice executing trades using virtual funds. This feature allows traders to test different trading strategies, become familiar with the platform's features, and build confidence before transitioning to live trading with real money.
How to Open an Account？
To open an account with Phillip Futures, please follow these steps:
Trading Platforms
Phillip Futures provides its clients with a selection of advanced trading platforms to cater to different trading preferences and needs. Among these platforms are Nova 2.0, MetaTrader 5 (MT5), and JAFeTS NOW, each offering unique features and capabilities to enhance the trading experience for users.
The Nova 2.0 mobile app stands out as a convenient and user-friendly platform that allows traders to access a wide range of trading products, including US stocks, stock indices, commodities, and currencies on the go. With charting powered by TradingView, traders can perform technical analysis efficiently while enjoying the benefits of inbuilt market depth tools. Notably, Nova 2.0 offers zero custodian and platform fees, enabling traders to focus solely on their trading strategies without worrying about additional costs.
MetaTrader 5 (MT5) is a popular trading platform known for its advanced features and technical analysis tools. With MetaTrader 5, traders can access a wider range of financial instruments, including Forex, stocks, commodities, and indices. The platform provides robust risk management functions, allowing traders to set stop-loss and take-profit levels effectively. Additionally, MT5 offers automated trading capabilities through expert advisors (EAs) and a flexible and customizable interface to suit individual trading preferences.
JAFeTS NOW, an advanced trading platform developed by Phillip Futures, offers enhanced performance compared to its predecessors. With the ability to handle more transactions per second, JAFeTS NOW ensures faster order execution and improved efficiency for traders. The platform boasts better risk management functions to help traders mitigate potential losses and enhance trading outcomes. Furthermore, JAFeTS NOW emphasizes reliability and availability, ensuring a seamless online trading experience for clients seeking high-performance trading solutions.
Deposits & Withdrawals
Clients of Phillip Futures have the convenience of depositing funds into the company's segregated account, ensuring the security and segregation of their funds. When making deposits, clients are required to include their account numbers in the remarks column to facilitate the process of crediting the funds to the correct account. To withdraw funds, clients have two options available to them. They can either submit a withdrawal request through the client portal online or fill out a withdrawal form as an alternative method.
Notes:
- Withdrawals are not processed on Indonesian National Holidays and/or Banking Holidays to align with the standard banking practices.
- Additionally, there is a specific cut-off time for withdrawal requests - any submissions made after 09:30 WIB will be processed on the next business day.
- Clients are only able to deposit funds through bank accounts that have been previously submitted during the account opening process.
- Phillip Futures may allow clients to submit multiple bank accounts for deposits and withdrawals, offering flexibility and convenience in managing their financial transactions with the brokerage firm.
Customer Service
Phillip Futures offers live chat. With live chat, customers can get their questions answered quickly and receive help with any issues they may have. It's a convenient and effective communication channel that can improve customer satisfaction and increase sales.
Customers can visit their office or get in touch with customer service line using the information provided below:
Tel: (021) 5790 6525
Fax: (021) 5790 6526
Email: futures@phillip.co.id
Moreover, clients could get in touch with this broker through the social media, such as Twitter, Facebook, Instagram, YouTube and WhatsApp.
Whats more, Phillip Futures provides a Frequently Asked Questions (FAQ) section on their website to assist their clients with commonly asked questions and provide relevant information. The FAQ section aims to address common queries and concerns that investors may have regarding the company's services, processes, and investment opportunities. By offering this resource, Phillip Futures aims to provide transparency and clarity to their clients, helping them make informed decision.
Phillip Futures offers online messaging as part of their trading platform. This allows traders to communicate with customer support or other traders directly through the platform. Online messaging can be a convenient way to get real-time assistance or to engage in discussions with fellow traders.
Conclusion
In conclusion, Phillip Futures is a brokerage firm that offers a wide range of products and services in the financial markets. Regulated by ICDX and BAPPEBTI, Phillip Futures provides services with their accounts on many platforms. Phillip Futures is considered a rather safe brokerage firm with a solid track record in the financial industry.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
2024-02-23 16:49
2023-03-13 14:28
