Friday, April 9, 2021

Trade At Zero Commission With Phillip MetaTrader 5

Investing is a marathon journey that most of us would probably have to cope with for a long time in our lifetime.

Choosing the right brokerage service and platform to safely put your money is an important aspect of the entire investing and trading journey for an investor. This is especially so for the beginner investors as they seek to trial and error on a variety of different assets that suits their needs.

Some may like the excitement of the fast and furious markets such as FOREX or Cryptocurrency while others may enjoy the stability of investing in a relatively less volatile market such as equities.

This article is written to address both needs - the availability of trading in multiple products in the convenience of one account under one platform.

We'll discuss about this in more detail later on but first let me introduce who and what Phillip Futures is all about.

About Phillip Futures

Phillip Futures Pte Ltd was inaugurated in 1983 as a member of the PhillipCapital Group and is one of the founding members of the Singapore Exchange Derivatives Trading (SGX-DT).

The Group has been dominant in setting up a presence and clearing membership in 21 major global exchanges which include APEX, BMD, CME Group Exchanges, DGCX, HKEX, ICDX, JPX and SGX.

Together in total, PhillipCapital has become one of the major powerhouse in the industry with assets under management amounting to more than USD 35 billion and shareholder funds in excess of USD1.5 billion.

While sharing the same parent group, Phillip Futures is actually a different entity altogether with Phillip Securities (some know it better as POEMS) but both offered overlap in products such as CFD on POEMS and CFD on Phillip MT5.

Phillip Futures holds a Capital Markets Services ("CMS") license from the Monetary Authority of Singapore (MAS) and customer's funds are held in a separate trustee licensed bank account so the funds cannot be used to pay for the obligations even in the unlikely event Phillip Futures Pte Ltd goes into liquidation.

Multiple Products In One Platform

One of the most challenging experience as an investor myself is to own multiple accounts on different platforms to trade on multiple products.

It is not only difficult to keep track on the progress of each individual accounts and statement but it can also be messy when you're trying to consolidate your positions , especially if you are also trying to keep tab on the performance of each account individually.

Phillip MetaTrader 5 (MT5) offers a one stop platform for investors to trade on a comprehensive range of products available such as CFD, Bullion and FOREX that meets the suits and needs of the investor.

0% Commission For CFD Trades

Some of you might know that I have frequently used CFD as one of my active investing strategies.

Trading in CFD enable users to trade on margin, which incur interests costs for overnight charges. These charges are called "financing costs" - which vary between 2.8% and 3.2% across for different brokerages. Similarly, Phillip Futures charges a competitive financing costs which varies from product to product. Since there are individual elements associated with the financing costs for each product and it floats on a daily basis, it will be difficult to put an absolute figure in this article.

To view the financing costs for each individual product on Phillip MT5, you can:

  • Right-click on the desired product you wish to trade
  • Pick "Specifications"
  • Scroll all the way down on the pop-up window
  • Look at the long or short rates

Commission charges is another trading costs that can quickly add up to your overall charges. This is especially so for traders who get in and out of the market frequently.

You can see below how much I spent on commission charges just based on a few trades I made in February using other CFD brokers previously.

3Fs Previous CFD Trading Activity

With Phillip Futures, you are able to eliminate that costs as trading on Philip MetaTrader 5 is commission-free



They were also open to share with me that they are able to offer 0% commission (and no platform or admin fee) because they wanted provide an avenue for traders and investors to earn as much as possible from these savings. In turn, Phillip Futures earn their money from the bid-sell spread as market maker.

For instance, the buy and sell spread for EURUSD is 0.6 pips, which is a rather small change if we compare it against the commissions other brokerages might have charged. Similarly, the buy and sell spread for Apple (Nasdaq: APPL) is 0.053, which is only 0.04% if we translate it into percentages.


0.6 pips spread


Nasdaq - Apple bid-sell spread

Ease of Opening an Account

One of the considerations almost every investor would have is the easiness of opening an account, especially in the 21st century digital environment we are living today.

In order to ascertain the efficiency of their account opening workflow, I have tested it myself by sending in my application on a weekday evening.

I used my phone to scan on the below QR link and register myself using a SingPass MyInfo, where it will help to populate all my information and details at an instant. 

If you prefer to register using your desktop, you can also click the link here to register.

The entire registration process was seamless - it took me 5 minutes to complete the registrations (including uploading my bank statement), and Phillips came back to finalize my application within the next half-hour (speaking of efficiency).

Scan QR here to sign-up


I also received an email instruction notifying me that the registration was successful and I can deposit my funds using the different funding method available.

PayNow seems to be the quickest method at the moment for transferring funds inside so I chose this method.


In a blink of an eye, my funds are successfully deposited and I can start to trade immediately at any moment.

Mobile Apps view

In case you wanted to give the platform a try first, you can also download their free 30-day Phillip MT5 Demo account in this link here.

In the next chapter, I will write more about the pros and cons of trading CFD, including the risk management involved and what as investors or traders you should be looking out for.

Disclaimer: This post is written in a collaboration with Phillip Futures. However, all opinions stated are that of my own, based on my experience and services received from Phillip Futures.

Thanks for reading.

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7 comments:

  1. uncle168,

    dpm heng won ec grc only 53% in ge2020, in tamp he won 57% in ge2011, we can't count ge2015 because the 72% won was because singaporeans want to give pap a second chance after lky pass away

    unfortunately after ge2015 the pap didn't change, its policy was still pro immigration and pro capital

    it stuck with immigration especially from india and increase of prices of utilites (fuel, electricity, water) and new sources of regressive taxes (carbon tax, gst on low value imported goods) that also tax the poor to create inflationery growth to attract foreign direct investment to boost gdp which increases the bonuses of the very government that is supposed to make life better for its people rather then for themselves

    pap use gst vouchers and workfare to make blue collar workers feel indebted to the government and results in low self esteem because the government kept their wages low to continue to create the illusion that redistribution of wealth is better than directly imposing a minimum wage that would reduce the need for blue collar workers to receive government aid and boost their self esteem and restore the true meaning of meritocracy that hard work pays off

    dpm heng didn't wait until ge2025 as he knew pap would lose ec grc, he can feel the sentiment isn't good as the grc had a lot of old people and are unhappy that prices of food keep going up and the government screwed up covid in the beginning by not asking everyone to wear mask

    the pap didn't use the S$100b wisely to push up the wages of blue collar workers and restore all the taxes on the rich like estate duties, taxes on dividend and interest and introduce capital gain tax to restore the balance on taxation on labour and capital

    the fear has always been that if the government raise taxes on the rich they would run away but now is covid where can they go?

    the will of the gov to make things right is weak as they have become millionaires themselves, why would they want to create news taxes for themselves?

    dpm heng is weak if his age is of concern he should just resign, why stay on can collect millions and refuse the pm post? he has become a free rider as it is easy to get paid and avoid the heavy resposibility of being the pm

    then who would want to be the pm of a country that has more old people than young people? when the death rate is rising and the birth rate is dropping to zero. when the local population is less than foreigners.

    what happened to the pap that lky created? it was bold and had the conviction to change course when things goes wrong.

    now pap is stuck and fear to change course as the main concern is not singaporeans but their bonus next year

    god speed

    keekeekee

    ReplyDelete
  2. uncle168,

    Tan Chuan-Jin would make a good pm as he is in good terms with wp and able to find common grounds in policies

    lhl delay in appointing a new pm is dangerous for singapore

    he is putting his own interest ahead of the country

    jakuma is wrong to say lhl should continue to be pm until covid is over

    what if covid never ends and lhl pass away suddenly?

    i am disappoint that such a stupid statement earn him a national day award

    if you observe all the funny things that happened after lky pass away you would notice that only gct ask lhl to quickly appoint a successor

    all the other pap mp kept quiet

    although gct is a seat warmer he is brave enough to voice the obvious

    singapore is more important then a single person greed for power

    god speed

    keekeekee

    ReplyDelete
  3. lky predicted hsk cannot be pm: “Heng Swee Keat was the best Principal Private Secretary I ever had. The only pity is that he is not of a big bulk, which makes a difference in a mass rally.”

    keekeeke

    ReplyDelete
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