How Easy It Is To Open An Online Account With Phillip Futures
A brokerage account is an essential requirement if you want to invest in the financial markets. If you are planning to open a new account, consider getting one at Phillip Futures.
Why should you select Phillip Futures over all the other available options? A glance at the points listed below is likely to convince you that this is your best choice:
⇨ Phillip Futures was established in 1983 and is a founding member of Singapore Exchange Derivatives Trading (SGX-DT).
⇨ It is one of the region’s top brokerages for the trading of global Futures and Commodities.
⇨ You have the option of trading in micro, mini and regular contract sizes.
⇨ You can gain access to free educational seminars and events designed to help you learn about financial markets and trading opportunities.
⇨ By opening a single account, you can trade more than 300 products in over 24 global exchanges.
Opening an online account – as simple as 1-2-3
Creating a new account with Phillip Futures couldn’t be easier. All you have to do is to complete three steps:
If you have SingPass
Singapore Citizens, Singapore Permanent Resident and FIN Holders can open a new online account using MyInfo:
Step 1 – Log in via SingPass to authenticate yourself.
Step 2 – Provide your consent for Phillip Futures to retrieve data stored in your MyInfo profile.
Step 3 – Complete the application.
You will be required to submit specific documentation. This includes your bank statement, supporting document for your residential/mailing address (this is applicable only for non-Singaporeans and PR), supporting document for mailing address (applicable to Singaporeans and PR if the mailing address differs from the residential address).
Remember that all your supporting documents must be less than three months old.
What if you don’t have SingPass? Fortunately, it’s still possible to open an online account with Phillip Futures, and the procedure is equally easy.
If you don’t have SingPass
Non-SingPass Users will be required to complete the Phillip Futures Account Opening form.
These are the documents that you will need:
- NRIC / Passport
- Bank Statement
- Supporting document for residential/mailing address (if address differs from NRIC)
Why choose Phillip Futures?
Phillip Futures offers its customers a unique breadth of coverage and easy access to the world’s financial markets. Here’s a broad overview of the investment opportunities that a new account will open up for you:
Stock Index Futures
A stock index future contract allows you to buy or sell a financial index (like the S&P 500) today to be settled at a future date. If you have a view on the direction that a particular index is going to take, this instrument is the perfect way to enter into a speculative trade.
Stock index futures are also used as hedging instruments to protect your investment portfolio from market volatility.
When you open an account with Phillip Futures, you gain access to many of the world’s largest and most important exchanges. The PhillipCapital Group (of which Phillip Futures is a member) has clearing memberships in the following exchanges:
Clearing memberships of the PhillipCapital Group
Source – Phillip Futures
Commodity futures offer investors an opportunity to speculate on the price movement of precious metals, agricultural products, and energy sources like oil and gas.
Gold and silver futures are especially popular with investors. An investment in these financial instruments can help you to diversify your portfolio and also provide you with an opportunity to earn a speculative profit.
Apart from futures, you can also trade Spot Forex with Phillip Futures. The forex market is the largest financial market in the world. According to Nasdaq’s Forex Market Review, trading volumes are US$5 trillion per day. That’s 25 times the figure of global equity trading volumes.
If you trade currency with Phillip Futures, the benefits that you get will include:
- Low spreads from 0.6 pips on EUR/USD and 0.7 pips on USD/JPY
- An opportunity to pick up the nuances of forex trading by registering for one-to-one coaching.
Get rewarded! An additional incentive to open an account
Phillip Futures is offering an attractive promotion to incentivise new clients to apply for an online account. The offer is valid only for accounts that are opened in the period from 15 May 2019 to 30 August 2019.
What do you get if you sign up in this three and a half-month window? Subject to specific terms and conditions, new Phillip Futures customers will receive an S$100 reward.
What is the procedure for receiving the reward and who is eligible?
This promotion is valid only if you open an individual account or a joint account. The first 100 new Phillip Futures customers who open an account online in the 15 May 2019 to 30 August 2019 period will earn the reward. The sum of $S100 will be credited into your Phillip Futures account on 30 August 2019.
The bottom line
Your success as an investor depends on several factors. It’s crucial to have a fundamental understanding of the financial markets and the products that you invest in. It’s also important to formulate an investment strategy that can provide you with the returns that you are looking for.
However, there is also a third factor that you must consider when you are starting to invest. It’s essential to have an account with a reliable brokerage that provides you with a robust trading platform.
Phillip Futures is an award-winning brokerage. At the ShareInvestor Awards 2018, the firm received three awards:
⇨ Most Preferred Forex Broker – Gold
⇨ Most Preferred Local Brokerage Firm – Gold
⇨ Most Preferred Mobile Trading Platform (Equities) – Gold
Now you have an opportunity to give your investment journey a headstart by opening a trading account with Phillip Futures. Doing this will provide you with access to best-in-class trading platforms, and if you decide to open an account before 30 August 2019, you will have an opportunity to win a reward under the promotion that the firm is currently offering.