Fees that are charged monthly include (but are not limited to): certain platform fees, give up fees, desk fees and interest. What are the requirements to open CFD account with Phillip Futures? If you are our direct customer, please contact us at 312-356-9000 or. S$2.14 per counter per month (subject to max S$160.50 per quarter) is chargeable. Phillip Capital is a great choice for Singapore stocks. We are simply … When you are trading in a contract that settles in a non-US currency. Please select “Deposit Funds” under “Acct Mgmt” and initiate payment before 5 pm on Mondays to Fridays for funds to be credited on the same day. Minimum Deposit. As a US entity regulated by the CFTC, NFA and CME, we welcome you to check our compliance record. Phillip Capital Inc. plan was always to become a multi asset financial institution providing a one stop shop for investors and traders. Currently, the FDIC is responsible for insuring the deposits of individuals and businesses who have checking or saving accounts with banks up to $250,000. Phillip Capital Inc. charges margins based on what is set by the applicable exchange. PCI is an affiliate of PhillipCapital Group of … Click on the below link to view To learn more or find out if we offer a demo for a particular platform, please click here. Phillip CFD offers more than 5,000 CFDs in Singapore, United States, Hong Kong, Malaysia, China, Japan, Australia and United Kingdom markets. What does customer segregated funds mean? We actually clear through both FCMs (Phillip and Dorman). So, he sells 2 September corn futures contracts at $5/bushel to lock in his price. Sometimes debit interest can be charged even if rolled up margin excess is positive and there is no margin call, but a particular currency margin excess is negative. Securities borrowing and lending (SBL) is a temporary loan of securities between the lender and the borrower. If you have any further questions that you think we haven’t covered, please email us at info@phillipcapital.com. For security reasons, a password is typically required to open the statement. The fund was introduced in April 2001 and is diversely parked in Singapore government bonds, bills, commercial papers, etc. While there have been ongoing talks regarding this, there are none to date. In the US PhillipCapital welcomes account types of all sizes, with a minimum deposit of $5,000* for US accounts and $5,000 for non-US accounts. For secured accounts, we accept: US Dollar, Japanese Yen, Singapore Dollar, Hong Kong Dollar, Australian Dollar, Euro, British Pound, Malaysian Ringgit & Chinese Renminbi. This is because the participating FCMs will be required to pay the insurance. PhillipCapital offers several free platform simulator options including CQG Trader, J-Trader, NinjaTrader and Trading Technologies. An independent Introducing Broker (IIB) must maintain adjusted net capital of at least $45,000 but may introduce business to any registered FCM. You can make PayNow transactions via nine Paynow participating banks in Singapore – Bank of China, Citibank, DBS Bank/POSB, HSBC Bank, ICBC, Maybank, OCBC Bank, Standard Chartered Bank, and UOB Bank. Interest reported on Form 1099-INT includes interest paid on savings accounts, interest-bearing checking accounts, and US Savings bonds. Phillip Capital Inc. is a direct clearing member of the following US and Non US Exchanges: CME, CBOT, COMEX, NYMEX, NFX, ICE US, CFE (CBOE). Spreads & Commission PhillipCapital offers relatively low spreads, the average on EUR/USD being around 0.6 pips. Phillip Securities Pte Ltd – Unique Entity Number (UEN) : 197501035Z. PCI is an affiliate of PhillipCapital Group of Companies, a group of commonly owned entities headquartered in Singapore and founded in 1975. Phillip Capital actually does allow ACH transfers, Dorman does not. Phillip Capital Inc. is regulated by the U.S. Commodity Futures Trading Commission (CFTC), National Futures Association (NFA) and each commodity futures exchange for which we are members. Commodity market participants are commonly known as traders; these traders can be producers, users, or speculators. Simply put, it as an over-the-counter trading instrument that allows you to participate in the price movement of an underlying share or index, … However, we need to keep in mind that we need to come up … Dont be scared off by brokers like Phillip Capital Limited … The minimum deposit to open a futures trading account, with NinjaTrader Brokerage, is US$1,000. Our decision to start an FCM in the United States was motivated by the desire to reduce counterparty risk and to directly control where customer segregated funds are held for our customers based in Asia. You can open Individual, Joint, Corporate, LLC, LLP, Trust, IRA, Pension Plan and Discretionary Trading accounts. Withdrawal. Login to the Phillip Capital Customer Portal; Select “My Money” followed by “Link Bank” Follow the additional provided instructions; Two-factor authentication is required to ensure safe and secure account access. What is aggregated profit or loss shown on the statement? Interest charges occur in the following situations: When you have an overnight margin deficiency in any currency. As a firm, Phillip Capital Inc. will need to charge you debit interest as we are holding currency risk. The FDIC is not intended to provide protection to investors who are making speculative investments. This is done to allow the borrower who expects the price of a stock to fall to hold a short position for a longer duration, while the lender who loans the stock receives a lending fee from the borrower. Regulated by the … What are interest charges for? What are your charges? The buying power is based on the amount of available cash in the account. Who do I call if I do not receive my account statement? Sign up your online trading account and practice risk-free trading on our platform. This is in case of theft or loss of the money through the bank's actions. According to the Commodity Exchange Act and Commodity Futures Trading Commission (CFTC) regulations, as an FCM, Phillip Capital Inc. is required to treat all customers' money, securities and other property received to margin, guarantee or secure futures or options on futures trades, as customer property. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. At PhillipCapital, we do not do any proprietary trading. The Phillip account is the smallest account offering from the broker, which sees the PhillipCapital UK spreads starting from 0.8 pips for … What is the difference between an IIB (Independent Introducing Broker) and a GIB (Guaranteed IB)? If you are a non-US domiciled person, then your minimum initial deposit is $5,000 US. Customers’ money is held in segregated and/or secured accounts per CFTC and SEC regulations (as applicable). Please be aware … Commissions vary depending on whether you buy the NinjaTrader platform (59 U.S. cents a side), lease it (89 U.S. cents a side), or … Can you disable the password requirement for opening statements? Please contact our 24-hour trading desk for assistance: Yes, customers have access to a portal where they can view statements, daily balances, and executed trades throughout the day. ... Phillip Global Markets ให้บริการลงทุนหุ้นและ ETFs. If you are a US domiciled resident, the minimum initial deposit to open an account is $5,000 US. That is why when choosing a broker, it is very important to understand their treasury policy and their financial standings. Do you have a website where I can log in to see my executed trades as well as access other information about my account? Phillip Capital Inc. (PCI) does not provide investment or tax advice; any decision you may make to buy, sell or hold a futures, options, or securities position on any trading recommendation is entirely your own and not in any way deemed to be endorsed by or attributed to PCI. So, the minimum initial deposit, required by PhillipCapital UK is comparatively high. 1099s are sent to customers' address of record. If you are trading non US based futures and options contracts on a foreign exchange, then your account is typically a secured account. Applicable rates depend on the product that will be traded and the individual investor’s experience; such rates are determined and set by our Risk Dept. While we urge clients to use caution when using retirement funds for high-risk investments like futures, IRA and retirement accounts are acceptable account types. But if you want to use it to make live trades, … * $5,000 minimum applies to US residents; $5,000 minimum applies to non-US residents. The fund aims to preserve the principal value and to maintain a high degree of … As required by US Regulations, PhillipCapital carries an excess amount of its own money in these segregated and secured accounts. You can transfer money from one of your accounts to another without a charge by emailing treasury. Photocopy IC and a bank statement issued within the last 3 months. Whether you come to us as a direct customer or through our IB network, PhillipCapital is here to serve your needs. Do you charge anything else apart from commission? Yes you can! Profits or losses are realized when a futures or options position is closed. For segregated accounts, we accept: US Dollar, Canadian Dollar, Swiss Franc, Japanese Yen, Euro, Chinese Renminbi, British Pound, Australian Dollar & New Zealand Dollar. 1099s are sent to customers' address of record. If the price drops below $5/bushel, his physical corn yield price will typically fall, but he will profit from the corn futures contract position. The CME Group is our designated self-regulatory organization (DSRO). To open a live account, you’ll need a minimum deposit of at least $1. If you are a non-US domiciled person, then your minimum initial deposit is $5,000 US. Commodity prices are primarily determined by the supply and demand relationship. As a policy, PhillipCapital carries an excess amount of its own money in these secured and segregated accounts. Total Realized P/L on open contracts on the last trading day minus the Unrealized P/L on Open Contracts on the last trading day of the prior year plus the Unrealized P/L on open contracts on the last trading day; or calculated as follows: +   Total Realized Profit or Loss as of last trading day•    Prior year’s Unrealized Profit/Loss on open contracts +   Current year’s Unrealized Profit/Loss on open contracts=   Aggregated Profit/Loss on contracts. These different accounts are all separated for different purposes and are defined by CFTC regulations. You will receive daily statements at the end of the trading day via email. The amount of unrealized futures profit or loss is the difference between the initial purchase or sale price and the settlement value of the position on the last trading day. We truly want to be your partner in finance. Customers' segregated assets cannot be used to margin any other person's trades. PhillipCapital’s services include self-clearing corporate equity and debt securities. Risk capital is money that can be lost without jeopardizing one’s financial security or lifestyle. Commodities are products that may be physically delivered by the seller to the buyer. If we receive all the necessary documentation, we can typically open an individual account within one business day. How long does it take to open a new account? Additional supporting documents may … What is the difference between a non-clearing FCM and a clearing FCM? Yes, you may have your statement sent to multiple email accounts. Of course, depending on what you are trading, you will be required to deposit additional amounts of Initial Margin for the different products that you trade. Its parent company is headquartered in Denver, CO.It has over 40,000 users and more than 400 developers. Retail trading is very important to us. ICE EU and DME (Dubai). Spreads & Commissions This broker offer… What is unrealized profit or loss shown on the statement? We pride ourselves on typically responding to any requests within one business day. DORMAN TRADING For over 50 years, Dorman Trading has provided futures traders and brokerage firms professional service … Click on the below link to view Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. our basic profile. Phillip Capital is a global broker, regulated by top-tier financial authorities such as the US Commodity Futures Trading Commission (CFTC) and the UK's Financial Conduct Authority (FCA). After completion, you can begin to use ACH to deposit or withdraw funds immediately. • Minimum funding for new accounts is $400 USD • Please note a minimum account balance of $50 must be maintained to keep your user ID active. Buying power is restored immediately once the sell order is filled. The exchange deals with the members of the exchange for all the processing and settlement of the trades. If you are trading US based futures and options on futures, then your account is considered as a customer segregated account. Phillip Capital Inc. does not offer trading advice at this time. Why did PhillipCapital decide to start a FCM here? An investor could potentially lose all or more than the initial investment. If your address has changed, please email us at support@phillipcapital.com. What is the minimum initial deposit required to open an account? Got a question? What happens if I lose my internet connection while trading? Being regulated by FCA, I have nothing to say against the Company’s reliability and trustworthiness however I have few negative things to say about the services they offer. But while MT4 is primarily used by forex traders, Ninja Trader is more popular with the futures trading community.Ninja Trader can be used for free on a demo account. According to the NFA: A futures contract is a trading vehicle that allows traders to exchange large amounts of commodities for delivery at later date with relatively less cash than the overall value of the underlying deliverable. What are the exchanges that you currently clear? What is the difference between a FCM (Futures Commission Merchant) and an Introducing Broker (IB)? Hedgers use such contracts to avoid the risk associated with the price fluctuation of a futures’ underlying product or raw material. Phillip Capital Inc. is located at the CBOT (Chicago Board of Trade) building at 141 W Jackson Blvd, Suite 1531A, Chicago IL 60604. Alternatively, PhillipCapital UK offers a demo account that you can use to practice and familiarise yourself with their platform. Waiver condition is 2 trades per month or 6 trades per quarter or minimum S$132 brokerage per quarter. For popular futures such as the E-mini S&P 500 (ES), day trading margins are US$500. 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