Losses can exceed deposits

  1. Home
  2. Compare Forex Brokers
  3. PhillipCapital UK review

PhillipCapital UK Review

  • 2


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


To open a live account, you’ll need a minimum deposit of at least $1. Alternatively, PhillipCapital UK offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by the Financial Conduct Authority, UK (FRN: 169760). PhillipCapital UK puts all client funds in a segregated bank account and uses tier-1 banks for this. PhillipCapital UK has been established since 1975, and have a head office in .

Before we dive into some of the more detailed aspects of PhillipCapital UK’s spreads, fees, platforms and trading features, you may want to open PhillipCapital UK’s website in a new tab by clicking the button below in order to see the latest information directly from PhillipCapital UK.

Visit PhillipCapital UK

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

PhillipCapital UK screenshot Open a demo account

Losses can exceed deposits

What are PhillipCapital UK's spreads & fees?

Like most brokers, PhillipCapital UK takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The commisions and spreads displayed below are based on the minimum spreads listed on PhillipCapital UK’s website. The colour bars show how competitive PhillipCapital UK's spreads are in comparison to other popular brokers featured on BrokerNotes.

PhillipCapital UK
EUR/USD (Average: 0.7 pips) Not offered 0.7 pips 0.1 pips
GBP/USD (Average: 1.1 pips) Not offered 1.7 pips 0.1 pips
USD/JPY (Average: 1.1 pips) Not offered 0.6 pips 0.1 pips
AUD/USD (Average: 0.8 pips) Not offered 0.6 pips 0.2 pips
USD/CHF (Average: 2.3 pips) Not offered 2.3 pips 0.2 pips
USD/CAD (Average: 2.9 pips) Not offered 0.5 pips 0.3 pips
NZD/USD (Average: 3.6 pips) Not offered 2.8 pips 0.3 pips
EUR/GBP (Average: 2.4 pips) Not offered 0.5 pips 0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, PhillipCapital UK’s minimum spread for trading EUR/USD is pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade 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?

If you were to buy one standard lot of EUR/USD (100k units) with PhillipCapital UK at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $9.94. Here’s a rough breakdown of the fees and how this compares against AvaTrade & IG .

XTB AvaTrade IG
Spread from: $ 2.00 $ 7.00 $ 6.00
Commission: $0.00 $0.00 $0.00
Total cost of a 100k trade: $ 2.00 $ 7.00 $ 6.00
$5 more $4 more
Visit XTB Visit AvaTrade Visit IG

All fees/prices are for informational purposes and are subject to change.

What can you trade with PhillipCapital UK?

PhillipCapital UK offers over 1,500 different instruments to trade, including over 48 currency pairs. We’ve summarised all of the different types of instruments offered by PhillipCapital UK below, along with the instruments offered by AvaTrade and IG for comparison.

FX / Currency CFDs XTB AvaTrade IG
# of forex pairs offered 48 59 90
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies Yes Yes Yes
Commodity CFDs XTB AvaTrade IG
# of commodities offered 21 16 34
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Index & Stock CFDs XTB AvaTrade IG
# of stocks offered 1606 99 8000
UK shares Yes Yes Yes
US shares Yes Yes Yes
German shares Yes Yes Yes
Japanese shares Yes Yes Yes
See XTB's InstrumentsSee AvaTrade's InstrumentsSee IG's Instruments

What’s the PhillipCapital UK trading experience like?

1) Platforms and apps

PhillipCapital UK Screenshot

PhillipCapital UK also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See PhillipCapital UK's platforms

2) Executing Trades

PhillipCapital UK allows you to execute a minimum trade of . This may vary depending on the account you open. PhillipCapital UK allows you to execute a maximum trade of .

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Finally, we’ve listed some of the popular funding methods that PhillipCapital UK offers its traders below.

Trading Features:

  • Low min deposit

Accounts offered:

Funding methods:

3) Client support

PhillipCapital UK support a limited number including .

PhillipCapital UK has a BrokerNotes double AA support rating because PhillipCapital UK offer live chat, phone, email support and less than three languages.

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

As PhillipCapital UK is regulated by Financial Conduct Authority , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore PhillipCapital UK’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with PhillipCapital UK you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.phillipcapitaluk.com/ on 01/09/2020.