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PhillipCapital UK is a brand name of PhillipCapital UK Limited., The company is part of the PhillipCapital Group, which is authorised and Regulated by the Financial Conduct Authority (FCA) under Reference Number 169760.
The brokerage company offers online trading services in a range of financial instruments including CFD’s, FX and Commodities both for investing and hedging, allowing investors to diversify their portfolio. The average spread for the EUR/USD pair is 1.2 pips.
Clients of PhillipCapital UK can use the popular trading terminal MetaTrader 4. With MetaTrader 4, they can analyse financial markets, perform advanced trading operations, run trading robots (Expert Advisors) and copy deals of other traders as well. Customers can download it to their desktop PCs or trade on the go with MT4 app for iPhone and Android. Another option customers can choose to trade is the platform ZuluTrade. It is an online and mobile social trading platform that allows customers to find top traders and follow them by copying their trades in real time. So-called investors are ranked according to a complex algorithm. Copied deals are executed by PhillipCapital UK.
The minimum initial deposit depends on the account type. The initial deposit for the Phillip Account is GBP500 and for the Premium Account is GBP10,000. There is no limit on the size of subsequent deposits.
The Research section in the website contains useful things such as a MetaTrader economic calendar, technical and fundamental analysis. In addition, customers can find more useful things in the Education section.
If you would like to be an Introducing Broker (IB) of PhillipCapital UK, there is a dedicated IB scheme designed for such a purpose.
We looked at the legal documents and what we found was that PhillipCapital UK acts as Principal and it will be the counterparty to all clients deals. In other words, it is a market maker. As we’ve always said, this is not necessarily bad news but automatically leads to a conflict of interest because market makers earn money when customers lose. In addition, the Order Execution Policy document informs that orders may be filled at the next available price – slippage occurs. Moreover, stop loss orders are not guaranteed and can be executed at a worse than requested price. The good thing is that the client’s balance will never go negative due to the built-in negative balance protection.
We can conclude that PhillipCapital UK is a well-regulated brokerage company that provides online trading services via one of the most renowned platforms – MetaTrader. It acts as a market maker and the spreads offered are not so tight. If the relatively high initial deposit is not a problem, you can start dealing with this fast-growing financial house.