CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

PhillipCapital UK

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Home » Reviews » PhillipCapital UK

PhillipCapital UK Review

Pros

  • Segregates client funds
  • Established in 1975
  • Regulated by Financial Conduct Authority
  • Min. deposit from £1

Cons

A minimum deposit of £1 is required for a live account. PhillipCapital UK, on the other hand, provides a free demo account that you may utilize to experiment and familiarize yourself with their platform.

Regulated by the Financial Conduct Authority, UK (FRN: 169760). PhillipCapital UK client funds are held in a segregated bank account and they work with tier-1 banks. PhillipCapital UK was established in 1975. 

Before we get into the specifics of PhillipCapital UK’s spreads, fees, platforms, and trading tools, you might want to open their website in a new tab by clicking the button below to get the most up-to-date information directly from the company.

VISIT PHILLIPCAPITAL UK

Disclosure: If you sign up with a broker through one of our links, we may receive a commission.

What are PhillipCapital UK’s spreads & fees?

PhillipCapital UK, like most brokers, charges a fee based on the spread, or the difference between the bid and ask price of an instrument.

The commissions and minimum spreads shown here are taken from PhillipCapital UK’s website.

The spreads are variable and are displayed for information purposes.

ForexPhillipCapital UKCity IndexXTB
EUR/USD(Average: 0.7 pips)0.8 pips0.7 pips0.1 pips
GBP/USD(Average: 1.1 pips)1.2 pips1.7 pips0.1 pips
USD/JPY(Average: 1.1 pips)1.4 pips0.6 pips0.1 pips
AUD/USD(Average: 0.8 pips)0.8 pips0.6 pips0.2 pips
USD/CHF(Average: 2.3 pips)1.2 pips2.3 pips0.2 pips
USD/CAD(Average: 2.9 pips)1.3 pips0.5 pips0.3 pips
NZD/USD(Average: 3.6 pips)1 pips2.8 pips0.3 pips
EUR/GBP(Average: 2.4 pips)0.9 pips0.5 pips0.1 pips

As you can see, PhillipCapital UK’s minimum EUR/USD spread is 0.8 pips, which is normal when compared to the average EUR/USD spread of 0.70 pips.

The table below compares the costs of trading one lot of EUR/USD with PhillipCapital UK vs. similar brokers.

SEE ALL SPREADS

How much does PhillipCapital UK charge to trade 1 lot of EUR/USD?

You would likely spend $15.1 if you bought one standard lot of EUR/USD (100k units) with PhillipCapital UK at an exchange rate of 1.1719 and then sold it the next day at the same rate.Here’s a quick rundown of the fees and how they compare to Avatrade and XTB.

PhillipCapital UKXTBAvaTrade
Spread from:$ 8.00$ 2.00$ 7.00
Commission:$0.00$0.00$0.00
Total cost of a 100k trade:$ 8.00$ 2.00$ 7.00
$6 less$1 less
VISIT PhillipCapital UK VISIT XTBVISIT AVATRADE

Fees and quotes are displayed for information purposes and could change.

What can you trade with PhillipCapital UK?

Over 50 different instruments, including over 45 currency pairs, are available to trade at PhillipCapital UK. Below, we’ve summarized all of PhillipCapital UK’s several types of instruments, as well as the instruments given by Avatrade and XTB for comparison.

FX / CurrenciesPhillipCapital UK XTBAvaTrade
# of forex pairs offered454859
Major forex pairsYesYesYes
Minor forex pairsYesYesYes
Exotic forex pairsYesYesYes
Cryptocurrencies*NoYesYes
Commodity CFDsPhillipCapital UK XTBAvaTrade
# of commodities offered42116
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalNoYesYes
Index & Stock CFDsPhillipCapital UK XTBAvaTrade
# of stocks offered0160699
UK sharesNoYesYes
US sharesNoYesYes
German sharesNoYesYes
Japanese sharesNoYesYes
SEE PhillipCapital UK’S INSTRUMENTSSEE XTB’S INSTRUMENTSSEE AVATRADE’S INSTRUMENTS

Visit PhillipCapital UK

What’s the PhillipCapital UK trading experience like?

1) Platforms and apps

PhillipCapital UK offers Android and iOS mobile apps, making it easy to keep track of and execute deals while on the go.

SEE PHILLIPCAPITAL UK’S PLATFORMS

Still not sure?

Open a demo account and learn how to trade.

2) Executing Trades

You can trade as little as 0.01lot with PhillipCapital UK. Depending on the account you open, this may differ.

Margin requirements vary by trader, account, and instrument, as they do with most brokers. On their website, you may see the most recent margin and leverage details.

We have included a list of some of the most common funding options that PhillipCapital UK provides to its traders.

Trading Features:

  • Low min deposit

Accounts offered:

  • Standard
  • Zero Spread
  • VIP Account

Funding methods:

  • Debit Card
  • Bank Transfer

3) Client support

PhillipCapital UK offers support in less than 3 languages.

4) What you’ll need to open an account with PhillipCapital UK

Because PhillipCapital UK is regulated by the Financial Conduct Authority, every new client must pass a few simple compliance tests to confirm that you are aware of the risks associated with trading and that you are permitted to trade. You’ll probably be asked for the following information when you register an account:

  • a colour copy of your passport, driver’s license, or other government-issued identification
  • a three-month utility bill, bank or credit card statement that shows your current address

You’ll also need to answer a few questions regarding your trading experience, so set aside at least 10 minutes to finish the account opening procedure.

You may be able to explore their platform right away, but you will not be allowed to make any transactions until you pass verification, which depending on the circumstances could take from a few hours up to a few days.

To begin the on boarding process with PhillipCapital UK, you can go to their website.

PhillipCapital UK

Open a demo account

79% of retail investor accounts lose money when trading CFDs with this provider.

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