Phillip CFD

Phillip CFD is a retail brokerage firm registered in Singapore. According to its website, the company began operations on December 9, 2019. The broker operates under the domain phillipcfd.com and is associated with the Phillip brand, which is known in the Singaporean financial sector through Phillip Securities Pte Ltd. However, it is important to note that Phillip CFD itself is not listed as a regulated entity by any major financial regulator, as per the available records. This unregulated status represents a significant consideration for potential traders.

The broker offers Contracts for Difference (CFDs) covering a variety of asset classes. Clients can trade equities, indices, commodities, and forex from a single account. The equity CFDs cover more than 5,000 contracts from major global markets including Singapore, the United States, Hong Kong, and others. The broker also provides Singapore DMA (Direct Market Access) CFDs, allowing clients to trade directly on the Singapore Exchange for equity CFDs.

Phillip CFD provides both demo and live trading accounts. The demo account allows potential clients to test the platform and strategies without financial risk. The live account opening process is conducted online and requires applicants to meet eligibility criteria including being at least 21 years old and not a U.S. person. The broker targets residents of Singapore primarily, as indicated by the need for local bank account details.

The broker offers multiple trading platforms. The primary platform is POEMS CFD MT5, which is built on MetaTrader 5. This platform supports advanced charting, technical analysis tools, and automated trading through Expert Advisors. Additionally, the broker provides POEMS Pro, a desktop application for active traders, and POEMS 2.0, a web-based platform for multi-asset trading. All platforms are claimed to offer real-time pricing and direct market access for Singapore markets.

Phillip CFD highlights competitive pricing, particularly for equity CFDs where it asserts no additional spread is applied. Commission is charged on equity trades based on a percentage of the contract value, with minimum amounts per market. For index and forex CFDs, the broker claims no commission is charged. Leverage of up to 10 times is available for eligible products. Financing charges apply for positions held overnight, with rates varying by market.

The broker's website indicates that funding is primarily via bank transfer from local Singaporean banks. No specific details about withdrawal methods or processing times are prominently displayed. As an unregulated broker, the safety of client funds relies entirely on the company's own policies and solvency. Potential clients should seek clarity on fund segregation and protection before depositing.

While Phillip CFD presents a range of trading services, the absence of regulation from a reputable authority is a critical risk factor. Traders should be aware that unregulated brokers may not adhere to strict client money segregation rules, and dispute resolution options are limited. The broker's presence is primarily online, and while it has social media accounts, independent reviews are scarce. Prospective clients are advised to exercise caution and consider the lack of regulatory oversight before committing funds.