Phillip Nova

Phillip Nova is a Singapore-based broker established on 16 October 2019, with its registered address at 250 North Bridge Road #07-01, Raffles City Tower, Singapore 179101. The broker is a member of the PhillipCapital group, which has a history in financial services spanning over 40 years. Phillip Nova operates under the official domain phillipnova.com.sg and is regulated by the Monetary Authority of Singapore (MAS), holding a Market Making License (MM).

The broker positions itself as a multi-asset platform, offering retail traders access to forex, CFDs, stocks, ETFs, and other instruments. It does not support the popular MetaTrader 4 platform but instead provides Phillip MT5, TradingView, and its proprietary NOVA platform. As a regulated entity, it must comply with MAS requirements, including client fund segregation and capital adequacy standards.

Phillip Nova is authorised and regulated by the Monetary Authority of Singapore (MAS) under license number (not disclosed in known facts). The MAS is a highly respected regulatory body, and a Market Making License indicates the broker is permitted to act as a market maker in certain instruments. This regulatory status provides a layer of oversight and investor protection, including the requirement to maintain client funds in segregated accounts.

The broker's MAS regulation is a key differentiator in a market where many offshore brokers operate without such oversight. However, traders should note that regulation does not eliminate all risks, and it is important to understand the specific terms of the license. The broker's social media presence on Facebook, Instagram, LinkedIn, Twitter/X, and YouTube suggests active engagement with its client base.

Phillip Nova offers three main account types tailored to different trading needs. The Multi Asset Account (Phillip Nova 2.0) provides access to a broad range of instruments including CFDs, futures, stocks, and structured warrants. The Forex and CFD Account (Phillip MT5) is focused on leveraged trading of forex, precious metals, and CFDs. The Stocks Only Access Account is designed for traders who wish to invest solely in equities and ETFs.

Account opening is conducted entirely online. Singapore residents with SingPass can use MyInfo for a streamlined process, while non-SingPass users undergo an AI-powered identity verification. Corporate accounts require direct contact with client service. The broker states that account opening can be completed in minutes and trading can begin within an hour. A demo account is available for practice.

Phillip Nova provides three trading platforms: Phillip MetaTrader 5 (MT5), TradingView, and its proprietary platform NOVA. Phillip MT5 is the broker's primary platform for forex and CFD trading, offering advanced charting, technical analysis tools, automated trading via Expert Advisors, and copy trading. The broker emphasises that MT5 is an upgrade from MT4, and therefore does not support MT4.

TradingView is integrated for charting and analysis, popular among retail traders for its social features and extensive library of indicators. The NOVA platform is a web-based solution offering multi-asset trading with over 100 technical indicators, live charts, and a market depth tool. All platforms are accessible via desktop and mobile devices, and the broker offers free live prices and data.

Phillip Nova offers seven types of trading instruments: forex, CFDs, cryptocurrencies, stocks, ETFs, futures and options, and structured warrants. Forex trading covers over 40 currency pairs including majors, minors, and exotics, with spreads from 0.6 pips. CFD trading includes shares CFDs on US, HK, SG, and European stocks, indices, commodities (precious metals and energy), and cryptocurrency CFDs.

The broker also provides access to stocks and ETFs for traditional investing. Futures and options are available for more advanced strategies, and structured warrants offer leveraged exposure to underlying assets. This broad product range allows traders to diversify across asset classes within a single account.

Phillip Nova advertises zero commission on forex trading and shares CFDs, with no minimum fee and no market data charges. Spreads on forex start from 0.6 pips, which is competitive in the industry. The broker also states that it charges zero custodian and platform fees on the NOVA multi-asset account.

However, specific fee details for other instruments, such as futures or options commissions, are not readily available on the website. The broker notes that spreads are indicative and subject to market conditions. Traders should review the terms and conditions thoroughly before trading to understand all potential costs.

Phillip Nova provides customer support during business hours, with 24/5 service for CFD trading queries. Contact can be made via phone at (65) 6538 0500 or email. The broker's website includes a FAQ section covering account opening, platforms, and trading. Additionally, the broker offers AI-powered trade signals from Acuity AnalysisIQ to help traders identify opportunities.

While educational resources are not prominently featured, the availability of a demo account allows traders to learn the platforms without financial risk. The broker's social media channels may also provide market insights and updates. For a regulated broker with a strong parent group, the support infrastructure appears adequate for retail clients.