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USD100* Reward When You Open An MT5 Account
Simply fund your newly opened MT5 account with a minimum of USD3,000 and place 1 trade (within 1 month of account activation) to receive a reward of USD100. The promotional period is from Monday, 15 March 2021 to Wednesday, 30 June 2021 (both dates inclusive)
Click here to view the Terms & Conditions for the promotion.
FAQ on the USD100 Promotion
You can open an account here. Before you begin, we highly recommend that you first view our FAQ on Account Opening on Account Opening. Upon starting on the online account opening form, an email link will be sent to you so that you can pick up where you left off to complete the application.
You need to open an account, fund minimum USD3000 and place 1 trade in any contract in any size (within 1 month of account activation) to receive a reward of USD100.
The USD100 will be credited into your trading account at the end of the promotion period. You will need to fund your account with a minimum of USD3,000 and place 1 trade in any contract of any size (within 1 month from account activation) to receive a reward of USD100. Click here for full T&C.
Yes, you can withdraw the USD100 when it is credited to you after the promotion period, by Wednesday 30 June 2021.
Phillip Futures was inaugurated in 1983 and is one of the founding clearing members of Singapore Exchange Derivatives Trading (SGX-DT). Phillip Futures is a trusted and regulated broker in Singapore has since grown to become one of the region’s top brokerages for the trading of global Futures, Commodities, CFD and Forex. We’re licensed and regulated by Monetary Authority of Singapore (MAS).
Your money will be held in a customer pooled account basis with a licensed bank, separate from money belonging to us. Your money cannot be used to meet our obligations in the unlikely event that Phillip Futures Pte Ltd goes into liquidation.
Yes, you may click here to apply for a demo account.
Most Frequently Asked Questions
Phillip MT5 platform is absolutely free of charge and you can enjoy zero commission trading for your spot forex/bullion/CFD trades.
You may open an account with a minimum deposit of USD $500 (or equivalent).
You can open an account here. Before you begin, we highly recommend that you first view our FAQ on Account Opening. Upon starting on the online account opening form, an email link will be sent to you so that you can pick up where you left off to complete the application.
We offer a forex account that comes with 1:20 leverage. If you are an Accredited Investor, you can opt to have a leverage of 1:50.
We do not charge any account maintenance or inactivity fees.
FAQ on Phillip Futures Pte Ltd
Phillip Futures was inaugurated in 1983 and is one of the founding clearing members of Singapore Exchange Derivatives Trading (SGX-DT). Phillip Futures is a trusted and regulated broker in Singapore has since grown to become one of the region’s top brokerages for the trading of global Futures, Commodities, CFD and Forex.
We’re licensed and regulated by Monetary Authority of Singapore (MAS). For more information, click here.
FAQ on Account Opening
No, opening an account is absolutely free.
We currently only accept bank/wire transfers. Do email the receipt/proof of transfer to pfpl_finance@phillip.com.sgand we will reply to your email with a confirmation once the funds have been sighted.
No, you’re only allowed one trading account.
This is for documentation purposes only.
This is to prevent identity theft and to ensure that you have personally submitted your application and to ensure that the details provided in the submission have not been used/ submitted by another party.
- Government issued NRIC/Passport
- Most recent bank statement
- Proof of mailing address (if address is different from your NRIC/residence Address
* Phillip Futures does not send any physical letters, all communication with customer will be via email.
- Common Reporting Standard (CRS) is a new information gathering and reporting standard implemented by participating countries globally.
- Under CRS, we are required to determine your TIN and tax residence. This information will be passed to Singapore’s tax authority. If your tax residence(s) is/are outside of Singapore, the information in this form may be reported, along with information relating to your accounts, to that country or countries’ national tax authority.
- This form is intended to request information consistent with local law requirements.
No, we do not withhold taxes or offer tax advice. For any tax related queries in relation to your trading, please discuss with your local tax agent.
Monetary Authority of Singapore (MAS) has introduced new requirements to provide safeguards to retail investors who wish to trade Specified Investment Products (SIPs), with effect from 1st Jan 2012. We will be assessing our customers on their relevant knowledge or experience of such SIPs before offering the products.
The “Customer Knowledge Assessment (CKA)” is required if you wish to trade a Specified Investment Product that is not listed on an exchange such as forex and CFD.
| Customer Knowledge Assessment (CKA) is required if you wish to trade Forex and OTC products | ||
| Assessment Criteria | CKA (CFD) | CKA (FX) |
| Done 6 or more transactions in Leveraged Bullion/CFD/Forex/OTC Metals in the past 3 years | ✓ | ✓ |
| Obtained a Pass in ABS-SAS Learning Module on Contracts For Difference AND obtained a Pass in ABS-SAS Learning Module on Foreign Exchange Margin Trading | ✓ | ✓ |
| Have a diploma or higher qualification in relevant courses such as: | ✓ | ✓ |
| Accountancy, Economics, Actuarial Science, Finance, Business, Financial Engineering, Capital Markets, Financial Planning, Commerce, Insurance, Computational Finance | ||
| Have a professional finance-related qualification (e.g CFA, AFP, CPA/ACCA) | ✓ | ✓ |
| Have a minimum of 3 consecutive years of working experience in the past 10 years in the development of, structuring of, management of, sale of, trading or, or research and analysis of investment products or the provision of training in investment products. (Work experience in accountancy, actuarial science, treasury or financial risk management may also be considered relevant experience) | ✓ | ✓ |
Our refer a friend program is aimed at rewarding our clients who invite their friends or family to trade with us. To be eligible for the USD66 bonus, your referral must meet the following criteria; the referred account has to trade at least 1 lot within 1 month from the account activation date. Your friend can include your email address in the “How did you hear of us?” section of the application form.
To find out more about the ID requirements for Directors and Shareholders, as well as the documents required from the company to open the account, please email to clientsrelation@phillip.com.sg.
Yes, we offer joint account opening. You can select the “Joint account application” during account opening. A separate link will be sent to the joint applicant’s email address.
We don’t offer deposit bonuses because we believe that our funds should go into providing low-cost trading and a quality platform infrastructure.
You are required to reply to the MT5 welcome email to receive your login password
A daily activity statement will be sent to your registered email address by the next working day of your trade/transaction. The activity statement will be in a password protected PDF file. The default password will be your full identity/passport number or your company registration number.
Phillip Futures only accepts deposits made from bank accounts bearing the account holder’s name. Supporting document(s) may be required to ascertain the source of funds
Our Main Office is open from Monday to Fridays, 9.00 am to 6.00 pm (except on Public Holidays). Our 24-hour CFD & Forex Dealing Desk (+65 6536 7200) provides broking, execution and clearing related services to all our clients, even on Singapore Public Holidays.
FAQ on an MT5 Trading Account with Phillip Futures
MetaTrader 5 is an institutional multi-asset platform offering outstanding trading possibilities and technical analysis tools, as well as enabling the use of automated trading systems (trading robots) and copy trading.
Phillip MT5 is the latest version of the MetaTrader series of platforms. Some of the features of MT5 include:
- Availability of automated trading, either by building your own algorithms or using a free/paid Expert Advisor (EA)
- Availability of automatic chart and candlestick pattern recognition using Autochartist or Trading Central or both
- Availability of buy and sell signals using Trading Central
- 21 time-frames on charts in comparison to the 9 time-frames available on MT4
- 38 inbuilt indicators, 8 more than MT4
- An inbuilt market place with wide access to EAs (both free and payable), indicators and tools to choose from
- Secured with 2FA functionalities on the live MT5 server
Yes, you may click here to apply for a FREE demo account.
2FA is required. The one-time password (OTP) to access the MT5 platform (desktop) can be obtained via the MT5 mobile app. The MT5 mobile app can be downloaded from the Google Play Store or Apple Store for free. The generation of OTP for Android and iPhone is different. You may refer here for the steps on generating the OTP.
You can view the swap points for all currencies by right clicking on the symbol – specification and refer to the swap long swap short for applicable swaps.
The swap rates displayed in your statement is an accumulated swap.
MT5 allows you to concurrently hold long positions and short positions in the same underlying contract, also known as hedge mode.
Your account is USD based. Hence, the margin/profit/loss will be automatically converted to USD.
We offer over 40 currency pairs to fit your trading needs. Trade popular currencies such as the US dollar (USD), euro (EUR), Japanese yen (JPY), British pound (GBP), Australian dollar (AUD), Canadian dollar (CAD), and the Swiss franc (CHF). We also offer more exotic currency pairs such as the offshore Renminbi (CNH).
You may trade Forex, Spot Gold, Spot Silver, Indices CFD, Oil CFD and Shares CFD with Phillip MT5.
We currently only accept bank / wire transfers. Once your transfer has been made, please email a copy of the proof/receipt of transfer to pfpl_finance@phillip.com.sg. Thereafter, we will update you via your registered email once your account has been funded.
Bank transfers normally take 1 to 2 business days. For international bank transfers, please allow up to three to five working days.
Phillip Futures will convert at the prevailing exchange rate.
You can submit a withdrawal request via the Client Portal. We will require a minimum of 1 business day to complete your withdrawal request. Cut-off timings for same day processing is 9.15am (SGT) daily. If you submit your withdrawal request before the stipulated cut-off time, it will be processed within the same day. Otherwise, it will be processed on the next business day.
There are no charges imposed by Phillip Futures. There may be fees imposed by the agent bank for remittance of your fund.
The prices we offer are streamed by bank and non-bank liquidity providers.
A margin in the Forex market is the amount you would have to deposit to take up a trading position. The amount is usually a fraction of the underlying asset value, and it helps ensure that both parties fulfil their obligations. Both buyers and sellers must put up margin payments. Trading with margin creates a leveraged effect that allows you to use a small amount of capital to make an investment of greater value. Therefore, a small price change can result in larger profits or losses.
Our leverage is 1:20. If you are an accredited investor, you can opt to have leverage of 1:50
At 100% margin you will be issued a notification alert.
Your account will be considered to have fallen into low equity when the account’s equity balance is less than 50%* of the initial margin of all open positions held in the account. While not legally obligated, we will do our best to notify you of the low equity status. To address the low equity, you will have to top up your account with funds or liquidate your positions before the account’s equity balance reaches 20%* of the initial margin. When your margin level falls to < 20% our system will auto close your open position/positions with highest losses until margin is above 100%.
*Phillip Futures reserves the right to amend the low equity and stop loss threshold in accordance to the risk profile of the account. You will be informed of any changes to your account’s low equity threshold. Please refer to our low equity policy.
We offer spreads from as low as 0.6 pips. Please see the spreads for the popularly traded FX and CFD contracts below.
| CURRENCY PAIR | BEST SPREAD | MARGIN FROM |
| EUR/USD | 0.6 pips | 5% |
| USD/JPY | 0.7 pips | 5% |
| AUD/USD | 0.7 pips | 5% |
| USD/SGD | 0.8 pips | 5% |
| GBP/USD | 0.8 pips | 5% |
| Spot Gold | $0.30 | 20% |
| Spot Silver | $0.01 | 20% |
| UK Oil (CFD) | $0.05 | 20% |
We do not charge any account maintenance or inactivity fees.
We offer both Autochartist and Trading Central Indicators to support your trading.
The reason for this is that spot Forex contracts have a two-day settlement period. For example, a spot Forex contract that occurred on Monday settles on Wednesday, a trade that occurred on Tuesday settles on Thursday, a trade that occurred on Wednesday settles on Friday, but a trade that occurred on Thursday settles on the following Monday.
