Phillip Securities-Some Important Points about This Broker

General Information & Regulation

Phillip Securities Japan, Ltd. was founded in 1944 and became a subsidiary of Phillip Capital Group in 2002. The latter is headquartered in Singapore and has operations in 16 countries and regions. The company is authorized and regulated by the Japan Securities Dealers Association, and its financial instrument operator number is Kanto Finance Bureau Director (Financial Instruments) No. 127. In addition, Phillip Securities is regulated by the Japan Financial Services Agency (FSA) under license number 9010001052923.

Market Instruments

Phillip Securities offers investors a range of financial instruments, including foreign exchange, CFDs, futures, domestic stocks/investment trusts, foreign stocks/bonds, corporate finance, etc.

Order Types

Phillip Securities offers seven order types: market, limit, stop, trailing, one cancels the other (OCO), if done (IFD), if done one cancels the other (IFD-OCO). Users can combine this with the different order types according to their trading style.

Currency Pairs & Spreads

Users can trade 25 major currency pairs, 1,000 currency units at a time. Phillip Securities will charge a spread fee for each transaction, but there is no fixed spread limit. Users can refer to the trading system for details.

Trading Platform

Phillip Securities offers its clients the MT5 platform, which is used by most investors and financial institutions around the world. The platform has a sophisticated interface, rich set of indicators and other features. With the company's “Philip MT5” platform, clients can also trade on their iPhone/Android phones, check rates and make full use of technical charts at any time.

Margin & Commissions

According to the relevant Forex regulations, the trading company must collect a certain amount of margin from the client. In case of individual accounts it will be 4% or more of the total trading price. For corporate accounts, the exchange rate risk ratio assumed by the Financial Futures Trading Association is applied. In terms of transaction fees, Phillip Securities will not charge any fees.

Deposit and Withdrawal

Phillip Securities' clients can make deposits via quick deposit or bank transfer. For quick deposit, the company has cooperation with six banks including Mizuho Bank, Bank of Tokyo-Mitsubishi UFJ, and Sumitomo Mitsui Banking Corporation. The company has not set a minimum deposit amount, and clients can make payments and transactions according to their asset status. As for the transfer fee, the deposit shall be borne by the client and the withdrawal fee shall be borne by the company.

Trading hours

Users can trade online from 7:00 a.m. Monday to 6:50 a.m. Saturday (5:50 a.m. in daylight saving time). It should be noted that the “Philip MT5” platform is subject to daily maintenance during trading hours. In addition, during trading hours, users can call the toll-free number 0120-883-308 for support.