Phillip Futures

Hi,

I wonder any one of you had ever come across this Broker that is based in Singapore.

They offered a wide range of product and claims to be ECN brokers.

This is the link to their their portal:
http://www.phillipfutures.com.sg/en/

I need to know if they are ..............
a) Honest or not
b) Any monies withdrawal issue
c) Slippage
d) Any unhappy encounters with this broker.
e) Do they trade against their clients.
f) Do they "switch off" thier server during news event

Thanks for viewing this thread.

In my experience with them these are my answers....

a) They are honest. Nothing much to hide.

b) Withdrawal is very slow, longest is 2 weeks. (I am local by the way, US brokers are faster than them.) However they are unlikely to play punk with your money. This Sg afterall....

c) Slippage is part of the biz.

d) I will never use them again, in all markets, futures, stocks, and now forex they are very uncompetitive.

e) They operate two models, DD and ECN via currencex. Not sure if they still run the DD platform, but I almost fell of my chair when I saw the spreads. (DD). For the currencex platform, typical ECN spreads, but the commish they charge negates everything else.

f) Platform stability...hmm average ?

If you want to trade a currenex platform based in SG, then go for MF Global, they charge 1 pip per round trip and can be lower depending on ticket size. I have been with Philips and MF for a long time, the only reason that I am keeping my Philips account is due to some stock holding I have through them. Be it futures or otc forex or cfd...thumbs down...actually most SG based brokers sucks....hopefully those foreign houses will wake them up.

Hi,

Thanks so much for the reply, they are very useful for me.

I went for a short seminar they conduct 2 months ago and manage to get their price list:


Spot forex commission per side/lot basis is.........

100K unit - 8USD
10K unit - 2 USD

That is something equivalent to 4 pips all in all for one complete round trade.

They allows me to use Ninjatrader for my trading platform.

I have many bad experiences with overseas broker who actually trade against their clients in the back offices despite they are cheaper.

Therefore, I think honesty is far more important. Once I am stable enough I will trade higher lot (mini lot) and I will go for MF and also trade currencies through Futures market rather than spot market.

I totally agree you view. Thanks again.

ok...I do not think Philips is any good given cost which eventually affects bottom line...MBT may be a better alternative if you are looking at smaller ticket sizes. I once got mega slipped on a currenex platform before, > 15 pts away from quoted.

I really do not buy into the broker conspiracies, that said there are some brokers who do look shady. Being in Sg why not go for oanda ? They are probably the best in the business, better than ecn spreads and good execution.

some crazy move from Phillipfutures.
after i write complaint in few hours that move was gone from the chart
Pair : CADJPY
move range : 80+ to 29+
can see from the picture attached