Editor’s Verdict
Overview
Review
Headquarters | Singapore |
|---|---|
Year Established | 1975 |
US Persons Accepted? |
Phillip Futures is an Asian financial house with a global reach offering futures options bullion and foreign exchange products. What was initially annoying was the offer that popped up asking us to execute a Java-based application (Phillips' Online Electronic Mart System (POEMS)), whose certificate could not be verified. I’m not a fan of running apps on my system that reach out of the cloud and ask permission to execute.
Nonetheless Phillips Futures is a pioneer in offering online trading services in Singapore. They offer 24-hour broking and execution services for a full range of futures, options and OTC products. Phillip Futures also provides e-trading connectivity to the CME Globex platform, the first global electronic trading system for futures and options and is now the world's premier marketplace for derivatives trading.
Phillips Futures also likes to emphasize investor education by providing regular public seminars that discuss a broad range of topics that are led by experienced brokers and industry experts. A unique educational feature offered by the company is a one-to-one coaching session designed for people who are interested in Futures and/ or Spot Forex/ Bullion trading but who do not have much knowledge of these products or the related markets. This sort of mentoring seems to go at least one step beyond the usual content found at other websites consisting of FAQs or web-linked tutorials that those new to trading need to browse on their own.
Phillips Futures conducts monthly demo sessions for their trading platforms. Phillip Futures offers a full range of trading platforms and one should really visit the platform comparison page to get a feel for the best platform for their individual or institutional trading needs. The amount of choices and options outlined in the chart found there can be a bit much to take in completely in one sitting.
In addition to providing trading platforms for institutional traders, Phillip Futures also provides business solutions and collaborations for corporate clients. APIs and White Labeling options figure prominently in those services.
We would have appreciated Phillips Futures outlining how they support their products to their customers more thoroughly. The site offers some intriguing possibilities otherwise.
Trading Platform
FAQs
Does AvaTrade or FXCM offer lower pricing?
AvaTrade offers lower Forex pricing compared to FXCM, but both maintain a commission-free trading environment. High-frequency traders can achieve a superior cost structure at FXCM via the Active Trader program. FXCM also provides lower mark-ups on other assets. Therefore, the final trading costs depend on traded assets, frequency, and volume.
Which trading platform is better: AvaTrade or FXCM?
Both brokers provide traders with an excellent trading platform choice. AvaTrade and FXCM deploy their proprietary trading platforms, where the latter has a significant edge. The out-of-the-box MT4 trading platform is available at both brokers alike. Where AvaTrade developed a distinct alternative for options traders and mobile ones, FXCM delivers eight solutions for automated trading solutions. Social trading is possible at both brokers. AvaTrade caters more to retail traders, while FXCM also serves demanding professional requirements together with quantitative traders.
How many Forex pairs and CFDs are available to trade?
AvaTrade maintains 55 currency pairs versus just 40 at FXCM. The overall asset selection also remains superior at the former, with more than 1,250 CFDs. The latter does not disclose all of its equity CFDs. The total does not eclipse what AvaTrade maintains, assessed per the other assets, which remain well below AvaTrade across the board.
Which broker is better for beginner traders?
FXCM provides new retail traders with a quality video library consisting of various topics. Valuable written content complements the educational section, and FXCM Plus enhances the overall service, which remains extremely competitive. AvaTrade, primarily via SharpTrader, accessible on a separate website away from AvaTrade following the spin-out, provides a superior educational section and one of the best-structured ones for new retail traders to consider.
