PhillipCapital UK is a Forex and CFD Broker that features on its trading platform CFDs on Forex, indices, commodities. PhillipCapital UK Limited is regulated and overseen by the Financial Conduct Authority (FCA) in the United Kingdom. The broker charges spreads, that are for example on the currency pair EUR/USD 6.1 pips*. Real trading is possible with a minimum deposit of $200. The PhillipCapital UK website is available in English only.
What do we cover in our PhillipCapital UK Review?
|General Risk Warning: 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.|
Basic information about the broker
- Website address: www.phillipcapitaluk.com
- Leverage: up to 1:30
- Instruments: CFDs – Forex, indices, commodities
- Minimum deposit: $200 (accounts held in GBP / EUR / USD)
- Demo account: Yes, free of charge
- Methods of deposit and withdrawal: Wire Transfer and debit cards
PhillipCapital UK Trading Platform
For FX and CFD trading, PhillipCapital UK offers two trading platforms: MT4 and ZuluTrade. MT4 is a popular trading platform among forex traders that provides great trading environment for a trader that likes to trade on his own. ZuluTrade, on the other, is a social trading platform that allows you to follow and copy other traders that use the platform as well. The broker provides access to 45 major currency pairs, 14 global indices, oil and precious metals.
PhillipCapital UK Spreads
As any other CFD broker, PhillipCapital UK charges a spread fee. For the most current spread charges, please visit the phillipcapitaluk.com website. Here is a spread comparison table that contrasts PhillipCapital UK spreads with popular industry competitors.
*Spreads recorded on 16.09.2019 at 22:30 GMT, spread charges were taken from the website of the broker. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.
PhillipCapital UK regulation
PhillipCapital UK Limited is authorized and regulated by the Financial Conduct Authority with reference number 2863591.
Advantages and disadvantages
Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce PhillipCapital UK.
PhillipCapital UK Pros
- MT4 and ZuluTrade
- Long-established company
- Modern and light website
PhillipCapital UK Cons
- Hig spreads for basic accounts
- No CFDs on stocks or cryptocurrencies
To sum up the PhillipCapital UK Review
PhillipCapital UK adheres to strict regulatory guidelines of the FCA. The broker has a great looking website in which it is very easy to navigate. The company offers two popular trading platforms to choose from. Charged spreads by the broker are quite high, especially for basic account types. The amount of available CFDs is also not particularly attractive, I am missing CFDs at least on some popular stock titles.
Your review can make a difference to other traders, please leave a comment if you have any personal experience with PhillipCapital UK.
- CFD Trading vs ETF Trading – explained for dummies - January 26, 2021
- Best Brokers That Accept ITIN - December 20, 2020
- Top Hidden Factors Influencing Choosing a Bitcoin Exchange - December 3, 2020