Phillip Nova Review

Account types

Deposits / Withdrawals

• Deposit Methods: Bank Wire Transfer, Visa, MasterCard
• Withdrawal Methods: Bank Wire Transfer
• Account Currencies: USD, CNH, CAD, HKD, SGD, ‎AUD, CHF, JPY, GBP, EUR

About Phillip Nova

Phillip Nova Pte. Ltd. (Co. Reg. No. 198305695G) is a Singapore-based broker operating via phillipnova.com.sg from 250 North Bridge Road, #07-01, Raffles City Tower, Singapore 179101. The firm is listed in the Monetary Authority of Singapore’s Financial Institutions Directory as a Capital Markets Services Licensee for dealing in capital markets products (securities, collective investment schemes, exchange‑traded and over‑the‑counter derivatives, and spot FX for leveraged FX), as well as for product financing and custodial services; it is also an Exempt Financial Adviser for specified advisory activities. MAS, Official site

The broker offers multi‑asset access spanning exchange‑traded futures and options, stocks and ETFs, CFDs, forex, and precious metals. Platforms include Phillip Nova 2.0 (multi‑asset), MetaTrader 5 (CFD/FX, including crypto‑CFDs), TradingView connectivity, and professional derivatives platforms Trading Technologies (TT) and CQG. Phillip Nova states it is one of the founding clearing members of SGX‑DT, and it is listed by Asia Pacific Exchange (APEX) as a General Clearing Member. Official site, APEX

On Phillip MetaTrader 5, the pricing model is zero commission with trading costs limited to spreads and swap; major‑pair spreads start from 0.6 pips, and no minimum deposit is required to open an account. Published margin guidance indicates FX margins from 5% for regular clients (2% for Accredited/Expert Investors); CFD margins vary by asset class (indices from 5%, equities from 10%, commodities from 20%). MT5 accounts are maintained in USD; funding is supported in AUD, CAD, CHF, CNH, EUR, GBP, HKD, JPY, NZD, SGD, and USD with conversion to USD for MT5. The MT5 close‑out level is 20% for non‑accredited investors and 50% for accredited investors. The firm’s risk notice states that investments can result in losses exceeding deposits or principal amount. Official site, Official site

Who it’s for

• Traders seeking a MAS‑regulated, multi‑asset broker with exchange‑traded derivatives access and SGX‑DT heritage. Official site
• FX/CFD users who want MT5 with automated trading (EAs), zero‑commission pricing, and published tight spreads. Official site
• Investors who prefer a single‑ledger, multi‑asset platform with TradingView integration for analysis and order routing. Official site

Pros and cons

Pros

• Regulated in Singapore with a CMS licence and Exempt Financial Adviser status listed in MAS’s directory. MAS
• Broad market access (futures/options, stocks/ETFs, CFDs, FX, bullion), SGX‑DT founding member and APEX General Clearing Member. Official site, APEX
• Multiple platforms: Phillip Nova 2.0, MT5 with EAs, TradingView connectivity, plus TT and CQG for professional derivatives trading. Official site, Official site
• MT5: zero commission; spreads from 0.6 pips; no minimum deposit. Official site
• Supports funding in 11 currencies, with clear guidance on deposits and conversions. Official site

Cons

• MT5 accounts are USD‑based; deposits in other currencies are converted to USD. Official site
• MT5 auto close‑out at 20% (non‑accredited) and 50% (accredited) can trigger forced liquidation; the weekend risk policy does not apply to MT5. Official site, Official site
• Risk notice states that trading may result in losses exceeding deposits/principal. Official site
• Published CFD margins vary by asset class (e.g., commodities from 20%), which limits available leverage versus FX. Official site