Phillip Nova Spreads, leverage, minimum deposit Revealed

Phillip Nova Information

　　Phillip Nova is a regulated broker based in Singapore, authorized by the Monetary Authority of Singapore (MAS). It offers seven types of trading instruments, including CFDs, commodities, forex, gold & silver, indices, cryptocurrencies, stocks, and ETFs. The platform supports Phillip MT5, TradingView, and its proprietary platform.

Pros and Cons

Is Phillip Nova Legit?

　　Phillip Nova is regulatedby the Monetary Authority of Singapore (MAS) with a Retail Forex License.

What Can I Trade on Phillip Nova?

　　Phillip Nova offers seven types of trading instruments: CFDs, commodities, forex, gold & silver, indices, cryptocurrencies, stocks, and ETFs.

Account Type

　　Phillip Nova offers three main account types.

　　Multi Asset Account (Phillip Nova 2.0) – Provides access to a broad range of asset classes including CFDs, Daily Leverage Certificates (DLCs), ETFs, Forex and Precious Metals, Futures & Options, Stocks, and Structured Warrants.

　　Forex and CFD Account (Phillip MT5) – Focused on CFD trading, this account also allows trading in Forex, Precious Metals, and selected stocks through the MetaTrader 5 platform.

　　Stocks Only Access Account (Phillip Nova) – Designed for investors interested solely in ETFs and Stocks, offering simplified access to equity markets.

Trading Platform

　　Phillip Nova offers three trading platforms: Phillip MetaTrader 5, TradingView, and the proprietary Phillip Nova platform.

Deposit and Withdrawal

　　Phillip Nova does not require a minimum first-time deposit for individual or joint accounts. However, corporate accounts must meet a minimum deposit of SGD 30,000 if incorporated in Singapore or Malaysia, and USD 50,000 if incorporated elsewhere.