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PhillipCapital UK Review
Pros
- Segregates client funds
- Established in 1975
- Regulated by Financial Conduct Authority
- Min. deposit from £1
Cons
- Limited range of instruments
- Not ASIC Regulated (See alternatives)
- Doesn’t offer Islamic accounts (See alternatives)
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.
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.
| Forex | PhillipCapital UK | City Index | XTB |
| EUR/USD(Average: 0.7 pips) | 0.8 pips | 0.7 pips | 0.1 pips |
| GBP/USD(Average: 1.1 pips) | 1.2 pips | 1.7 pips | 0.1 pips |
| USD/JPY(Average: 1.1 pips) | 1.4 pips | 0.6 pips | 0.1 pips |
| AUD/USD(Average: 0.8 pips) | 0.8 pips | 0.6 pips | 0.2 pips |
| USD/CHF(Average: 2.3 pips) | 1.2 pips | 2.3 pips | 0.2 pips |
| USD/CAD(Average: 2.9 pips) | 1.3 pips | 0.5 pips | 0.3 pips |
| NZD/USD(Average: 3.6 pips) | 1 pips | 2.8 pips | 0.3 pips |
| EUR/GBP(Average: 2.4 pips) | 0.9 pips | 0.5 pips | 0.1 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.
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 UK | XTB | AvaTrade | |
| 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 XTB | VISIT 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 / Currencies | PhillipCapital UK | XTB | AvaTrade |
| # of forex pairs offered | 45 | 48 | 59 |
| Major forex pairs | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes |
| Exotic forex pairs | Yes | Yes | Yes |
| Cryptocurrencies* | No | Yes | Yes |
| Commodity CFDs | PhillipCapital UK | XTB | AvaTrade |
| # of commodities offered | 4 | 21 | 16 |
| Metals | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes |
| Agricultural | No | Yes | Yes |
| Index & Stock CFDs | PhillipCapital UK | XTB | AvaTrade |
| # of stocks offered | 0 | 1606 | 99 |
| UK shares | No | Yes | Yes |
| US shares | No | Yes | Yes |
| German shares | No | Yes | Yes |
| Japanese shares | No | Yes | Yes |
| SEE PhillipCapital UK’S INSTRUMENTS | SEE XTB’S INSTRUMENTS | SEE AVATRADE’S INSTRUMENTS |
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.
79% of retail investor accounts lose money when trading CFDs with this provider.
