Phillip Nova offers a broad NOVA multi-asset account alongside a separate Forex and CFD account on Phillip MT5. The distinction affects the product menu, cash ledger and margin procedure. Its cash-share and exchange-traded derivatives services should be compared separately from its leveraged OTC products.[1][26]
Account choice and eligibility
Sections ↑At a glance01
The principal account routes
| Account | Platform and access | Practical distinction |
|---|---|---|
| Multi Asset Account | NOVA: stocks, ETFs, futures/options, FX, precious metals, CFDs, DLCs and structured warrants | Product approval and knowledge assessments can restrict access.Source 1 |
| Forex and CFD Account | Phillip MT5: FX, precious metals and CFDs | A separate account from NOVA.Source 1 |
| Stocks Only Access | Restricted securities route for eligible younger applicants | The opening FAQ distinguishes this from full multi-asset access.Source 2 |
| Corporate | Application and supporting company documents | Minimum deposit: SGD 30,000 for Singapore/Malaysia incorporation; USD 50,000 for companies incorporated elsewhere.Source 2 |
At a glance02
Opening requirements
| Item | Published condition |
|---|---|
| Age | Stocks-only access starts at 18; the broader multi-asset and MT5 routes start at 21, subject to approval.Source 2 |
| Identification | Without the supported Singpass route, provide accepted identity documents; a passport must have at least six months’ validity.Source 2 |
| Address evidence | Recent proof, generally dated within three months; additional evidence is needed for a different mailing address.Source 2 |
| Specified investment products | Customer Knowledge Assessment or Customer Account Review requirements can apply to derivatives and relevant investment products.Source 2 |
| Application processing | Normally 1–3 business days after required documents and assessments are complete.Source 1 |
| Individual MT5 funding minimum | The FX/MT5 landing page advertises no minimum deposit. Actual orders still need sufficient contract margin.Source 4 |
Singapore entity and protection boundaries
Sections ↑At a glance03
What the current authority record establishes
| Item | Evidence and scope |
|---|---|
| Contracting company | Phillip Nova Pte. Ltd.; the named MAS directory entry was retrieved for this profile.Source 35 |
| Capital Markets Services permissions | The directory lists securities, collective investment schemes, exchange-traded and OTC derivatives, leveraged spot FX, product financing and custodial services.Source 35 |
| Financial-adviser status | The same entry records exempt financial-adviser activities for specified derivatives and FX-related advice or reports.Source 35 |
| Client money | The opening FAQ describes pooled client accounts at licensed banks, kept separate from the company’s own money.Source 2 |
| Leveraged losses | The risk disclosure allows for losses exceeding funds committed and demands for further margin. No general negative-balance guarantee is established here.Source 25 |
Products: what is bought, and where it trades
Sections ↑At a glance04
Product map
| Product | Published access | Ownership or trading distinction |
|---|---|---|
| Cash stocks and ETFs | More than 11,000 securities advertised across Singapore, US, China, Hong Kong, Malaysia and Japan | Exchange-listed securities access; trading currency and local fees differ.Source 13 |
| Futures and options | More than 800 contracts across over 20 exchanges advertised | Index, commodity, metal, currency, cryptocurrency and interest-rate contracts; expiry and settlement rules matter.Source 14 |
| FX and precious metals | NOVA and Phillip MT5 have separate account arrangements | Spot/leveraged contracts and bullion services require the correct product specification.Source 1 |
| CFDs | Shares, indices, commodities and other listed CFD underlyings | OTC leveraged contracts create exposure to a price change, rather than ownership of the underlying share or commodity.Source 26 |
| Leveraged and inverse ETPs | The catalogue includes daily leveraged and inverse exchange-listed products | Their stated objectives are daily; the multiplier should not be presented as a fixed multi-day return.Source 33 |
| Physical bullion service | The product FAQ describes purchase and office collection of specified one-ounce gold coins or bars | This service is distinct from leveraged gold trading.Source 28 |
At a glance05
FX settlement and less familiar products
| Item | Published treatment |
|---|---|
| Spot FX rollover | The FAQ describes T+2 settlement and automatic rolling of positions held beyond 17:00 New York time, with swap debits or credits.Source 28 |
| Standard FX reference unit | The general product FAQ uses 100,000 base-currency units; MT5 permits smaller fractional contracts.Source 28 |
| Non-deliverable forwards | NDFs settle in cash rather than delivery of the reference currency. Reference-currency balances are indicative, and associated profits are not available as margin before fixing.Source 28 |
At a glance06
Direct gold and silver investment
| Term | Published distinction |
|---|---|
| GDI / SDI | Cash-settled products with little or no leverage; they do not deliver physical bullion.Source 28 |
| Charges | The FAQ quotes USD 1 commission without specifying its charging unit, plus administration of 1% annually on daily settlement value, charged daily.Source 28 |
| Physical bullion resale | The separate coin/bar service does not currently offer broker buyback.Source 28 |
Platforms, automation and account separation
Sections ↑At a glance07
Platform functions
| Platform | Published features | Scope |
|---|---|---|
| NOVA | Web, tablet and smartphone multi-asset access | The account supports securities and exchange-traded derivatives alongside approved OTC products.Source 17 |
| Phillip MT5 | Desktop, browser and mobile; Expert Advisors and automated trading | FX/CFD account; no platform fee advertised.Source 4 |
| TradingView | Connection from a NOVA account, including supported mobile access | MT5 accounts cannot be substituted for the required NOVA connection.Source 15 |
| Market-depth tools | The platform overview advertises depth-of-market trading tools | Availability follows the connected platform and supported market.Source 16 |
| MT5 research tools | Acuity AnalysisIQ, Trading Central indicators and MarketBuzz | Published tools and research access; no performance claim is inferred.Source 3 |
At a glance08
MT5 is a separate trading ledger
| Item | Published rule |
|---|---|
| Cash and positions | MT5 and standard-account positions, margin and cash are separate; spare funds do not transfer automatically.Source 9 |
| Internal transfer requests | The MT5 FAQ gives a registered-email request window of 09:00–22:30 SGT.Source 9 |
| Account currency | MT5 is USD-denominated; other deposit currencies are converted to USD.Source 5 |
| Practice account | The MT5 landing page advertises a 30-day demo with USD 10,000 virtual funds.Source 4 |
MT5 spreads, contract minimums and closeout
Sections ↑At a glance09
Selected advertised minimum MT5 spreads
| Instrument | Published minimum | Quotation unit |
|---|---|---|
| EUR/USD | 0.6 | PipsSource 3 |
| USD/JPY | 0.6 | PipsSource 3 |
| GBP/USD | 0.7 | PipsSource 3 |
| AUD/USD | 0.6 | PipsSource 3 |
| NZD/USD | 0.9 | PipsSource 3 |
| USD/CAD | 0.9 | PipsSource 3 |
| XAU/USD gold | 0.201 | Quoted USD price spreadSource 3 |
| XAG/USD silver | 0.00410 | Quoted USD price spreadSource 3 |
| NAS100 index CFD | 1.3 | Index pointsSource 3 |
| SPX500 index CFD | 0.6 | Index pointsSource 3 |
| OILUS / OILUK CFDs | 0.036 | Quoted USD price spreadSource 3 |
At a glance10
Published MT5 minimum sizes
At a glance11
MT5 margin and liquidation
| Event | Published treatment |
|---|---|
| Margin level | Equity divided by used margin, multiplied by 100.Source 9 |
| Below 100% | Immediately add funds or reduce positions.Source 9 |
| Automatic closeout | 20% for the ordinary account; the FAQ specifies 50% for accredited/expert investors (AI/EI).Source 9Source 34 |
| Liquidation order | The largest losing position closes first; part of a hedged position can be liquidated.Source 9 |
| Instrument leverage | Required margin is contract-specific. The product sheet directs clients to the platform and applicable product terms.Source 26 |
NOVA margin calls and securities financing
Sections ↑At a glance12
Standard-account margin controls
| Control | Published consequence |
|---|---|
| Day-end call | Normally due by the stated second-business-day cutoff. Highest Day 1/Day 2 shortfall applies; only risk-reducing trades are permitted.Source 8 |
| Unresolved call | Equity below initial margin at the cutoff permits forced closure. Issued liquidation instructions are irrevocable even while funds are arriving.Source 8 |
| Low equity | Below 50% of initial margin, a warning or discretionary liquidation can occur.Source 8 |
| Forced-liquidation level | At 20% of initial margin or lower, the broker may close part or all of the positions without notice.Source 8 |
| Weekend or exchange holiday | Fridays and relevant holiday eves require 80% of initial margin; shortfalls permit forced liquidation on a best-effort basis.Source 8 |
| Collateral currencies | MYR, KRW, IDR, INR, TWD, PHP and VND balances are not eligible margin for contracts in other denominations.Source 8 |
At a glance13
Shares margin trading
| Term | Operational meaning |
|---|---|
| Activation | An opt-in facility on NOVA; an MT5 client needs a separate NOVA account.Source 12 |
| Eligible collateral | Approved marginable securities held in custody can support margin, subject to haircuts and price caps.Source 12 |
| Financing calculation | Interest can arise when equity balance is below initial margin, even if the cash/equity figure remains positive.Source 12 |
| Accrual and repayment | Financing accrues daily until the relevant borrowing is repaid. Losses, fees and finance charges can create or enlarge the amount owed.Source 12 |
| Collateral realisation | Fully paid shares may be sold to cure a deficit. Their use as collateral changes the consequences of losses elsewhere in the account.Source 12 |
At a glance14
Interest and currency deficits
| Item | Published treatment |
|---|---|
| Current rates | Currency-specific credit and debit rates are provided through the current interest-rate schedule or portal. A positive balance does not establish a universal interest entitlement.Source 7 |
| Cross-currency deficit | Surplus cash in one currency does not automatically cancel borrowing or debit interest in another.Source 7 |
| Currency conversion | Clients can request conversion online or through the dealing desk at a quoted exchange rate.Source 6 |
| Protective conversion | The broker can intervene when a currency deficit creates overloss risk; its FAQ describes a modifiable 3% adverse-exchange-rate benchmark and an attempted contact before a same-day 16:00 SGT remedy deadline.Source 6 |
| MT5 distinction | The interest FAQ excludes other-currency balance mechanics from the USD-only MT5 account.Source 7 |
Stock commissions and current exchange-related fees
Sections ↑At a glance15
Asian cash-stock commissions
| Market | Online commission | Call-in commission |
|---|---|---|
| China A shares | 0.08%; minimum CNH50 | 0.18%; minimum CNH88Source 10 |
| Hong Kong | 0.08%; minimum HKD 28 / USD 3.80 / CNH23 | 0.18%; minimum HKD 88 / USD 11.80 / CNH68Source 10 |
| Japan | 0.10%; minimum JPY 380 | 0.20%; minimum JPY 2,000Source 10 |
| Malaysia | 0.08%; minimum MYR18 / USD 4.50 | 0.18%; minimum MYR68 / USD 18Source 10 |
| Singapore | 0.08%; no order minimum | 0.18%; minimum SGD 18 or the listed settlement-currency equivalentSource 10 |
At a glance16
US cash stocks and fractional shares
| Route | Published commission or minimum |
|---|---|
| Fractional shares | Purchase amounts from USD 1; online commission USD 0.38 per order.Source 11 |
| Standard shares online | 0.01% of trade value; minimum USD 3.88 per order.Source 11 |
| Standard shares by telephone | 0.18%; minimum USD 18 per order.Source 11 |
| Stock platform and custody | The stocks landing page advertises no platform or custody fee; this does not remove dealing or third-party charges.Source 13 |
At a glance17
Dated US sell-side fee changes
| Charge | Current published treatment | Why the date matters |
|---|---|---|
| SEC fee | 0.00206% on sell trades from 6 April 2026 | Separate from the broker’s stock commission.Source 19 |
| Trading Activity Fee | USD 0 for US stock/ETF sell trades dated 1 October–31 December 2026 inclusive | The 29 September notice supersedes the non-zero annual rate still displayed on some product tables.Source 18 |
| After the temporary TAF period | The notice says the prevailing FINRA schedule resumes from 1 January 2027 | No future amount has been projected in this profile.Source 18 |
Funding routes, bank processing and withdrawal costs
Sections ↑At a glance18
Funding and withdrawal essentials
| Item | Published provision |
|---|---|
| Deposit routes | PayNow, eGIRO, FAST, DBS/POSB bill payment, eNETS and bank wire.Source 5 |
| Accepted currencies | AUD, CAD, CHF, CNH, EUR, GBP, HKD, JPY, NZD, SGD and USD; MT5 ultimately holds USD.Source 5 |
| Bank ownership | Third-party deposits are not accepted.Source 5 |
| Cheques | Deposit through the bank; uncleared cheques do not remedy margin calls.Source 5 |
| Withdrawal method | Use the client portal. A submitted withdrawal form incurs USD 20 or SGD 30 administration, excluding GST.Source 5 |
| Portal / hard-copy cutoff | 11:00 SGT for processing that business day, subject to completion checks.Source 5 |
| Email / fax cutoff | Withdrawal forms received through email or fax have the earlier 10:00 SGT cutoff.Source 5 |
| Arrival | Allow at least one business day; foreign-currency bank arrival can take longer, with bank charges possible.Source 5 |
At a glance19
Conversion and dealing service windows
| Service | Published window or handling |
|---|---|
| Online currency conversion | Monday–Friday, 09:15–05:00 SGT during US daylight saving, or 10:15–06:00 in standard time.Source 29 |
| Spot FX dealing | Sunday 17:00 through Friday 17:00 New York time; liquidity and holiday exceptions apply.Source 29 |
| Bullion dealing | Sunday 18:00 through Friday 17:00 New York time; special holiday schedules can apply.Source 29 |
| Orders outside supported hours | The dealing notes restrict submissions, amendments and cancellations outside the applicable session; a displayed quote alone does not establish an executable market.Source 29 |
Recent product changes that affect open orders
Sections ↑At a glance20
Selected US share CFDs: 24-hour contracts
| Change | Published terms |
|---|---|
| Launch | From 28 September 2026, 40 selected US share CFDs trade on NOVA and MT5 under new -24H symbols.Source 20 |
| Published session | Monday 08:00 to Saturday 05:00 SGT during US daylight saving; zero commission is advertised for these contracts.Source 20 |
| Scope | Includes Apple, Amazon, Tesla, Microsoft and Nvidia; this is selected share-CFD access, not a blanket session for cash stocks.Source 20 |
| Migration consequence | Positions transferred during 26–27 September, but existing working orders, including stops and profit targets, did not carry over. Clients needed to recreate them on the new contracts.Source 20 |
At a glance21
Futures expiry, orders and market data
| Issue | Published requirement |
|---|---|
| Physical-delivery contracts | Close or roll by the broker’s Liquidation Day: 23:00 SGT or 30 minutes before the relevant close, whichever is earlier. Product-specific earlier dates apply.Source 8 |
| COMEX 100-ounce silver (SIC) | The 8 September notice says NOVA does not support weekend trading. GTC/GTD orders expire weekly at Friday 16:00 CT and must be resubmitted for the next supported session.Source 21 |
| SIC Singapore cutoff | Saturday 05:00 SGT in US daylight saving, or 06:00 in standard time.Source 21 |
| Exchange-data subscription | The CME page distinguishes professional and non-professional subscriptions and advertises a non-professional waiver until further notice.Source 22 |
| Total futures cost | Broker commission is quoted per contract per side in the relevant schedule; exchange and data charges are separate components.Source 10 |
Professional services, support and contract limitations
Sections ↑At a glance22
Additional services
| Service | Published scope |
|---|---|
| Institutional access | Customised market access, white-label arrangements and connectivity for qualifying professional clients.Source 23 |
| SGX crypto perpetual futures | NOVA access to Bitcoin BTP and Ethereum ETP contracts is restricted to accredited, expert or institutional investors.Source 34 |
| FIX and web API | The institutional brochure describes order routing for futures and options; bespoke arrangements should not be assumed to be included in a retail MT5 account.Source 24 |
| Education and research | Seminars, webinars, analyst material and one-to-one coaching are advertised.Source 32 |
| Dealing support | The new-trader FAQ describes 24-hour dealing assistance during the trading week, including Singapore public holidays; this is not a claim of weekend execution.Source 30 |
At a glance23
Support and escalation
| Need | Contact or route |
|---|---|
| General client service | +65 6538 0500; [email protected].Source 31 |
| Futures dealing | +65 6535 1155.Source 6 |
| FX and gold dealing | +65 6536 7200.Source 6 |
| Feedback or complaint | [email protected]; the published feedback contact is +65 6576 9804.Source 31 |
Phillip Nova’s published process provides acknowledgement within two business days and a resolution within fourteen business days after acknowledgement, or an interim update and revised timeframe. Its Chinese contact page names FIDReC for unresolved cases. Retain the complaint and final reply; dealing-desk contacts are separate from this review process.[31]
Reference table24
FIDReC route for an eligible Phillip Nova dispute
| Issue | Practical terms |
|---|---|
| Referral clock | Give the firm an opportunity to resolve the complaint; refer to FIDReC within six months of its final reply.Source 36 |
| Amount and scope | Mediation has no monetary ceiling. Adjudication is capped at S$150,000 for claims filed from 1 July 2024; pure investment-performance complaints are excluded.Source 37 |
| Outcome | An accepted award binds the institution. A consumer who rejects it may pursue other legal avenues; referral is not investment insurance.Source 38 |
At a glance25
Contract risks that affect account operation
| Issue | Published position |
|---|---|
| CFD counterparty | The product sheet identifies OTC exposure to Phillip Nova or another firm when it acts as agent. Exchange listing of the underlying does not turn the CFD into an exchange-owned security.Source 26 |
| Suspended markets | The agreement permits demands for extra margin, full contract value or closure under its suspension provisions. An unavailable market does not suspend the client’s contractual obligations.Source 27 |
| Foreign markets | Risk disclosure covers differences in foreign laws, custody and market arrangements. Singapore account regulation does not eliminate those exposures.Source 25 |
This profile uses public primary material checked on 10 October 2026, including indexed passages where the company site blocked direct retrieval. It does not report account-opening, platform, execution or withdrawal tests. Live contract specifications, applicable tax and exchange-fee schedules, and individual account permissions remain necessary for a transaction-specific cost estimate.
Company background & evidence
Sections ↑Legal entities & licences
These are source-dated records, not a blanket assessment of the broker. Read each issuer, identifier, status and scope together.
Phillip Nova Pte. Ltd.
SingaporeSource 35
| Issuer & identifier | Recorded status | Date & scope |
|---|---|---|
| Monetary Authority of SingaporeMAS FID reference 387 | Authorised | Checked 10 Oct 2026Current named directory entry. Reference 387 identifies the directory record; it is not a separate licence number.Source 35 |
Sources & further reading
- Account types, opening process and corporate applications Phillip Nova · Accessed 10 Oct 2026
- Account-opening eligibility, identification and client-money questions Phillip Nova · Accessed 10 Oct 2026
- Phillip MetaTrader 5 product suite and advertised spreads Phillip Nova · Accessed 10 Oct 2026
- MT5 funding minimum, automation and demo offer Phillip Nova · Accessed 10 Oct 2026
- Deposits, supported currencies, withdrawals and cutoffs Phillip Nova · Accessed 10 Oct 2026
- Online dealing, call-in dealing and currency conversion Phillip Nova · Accessed 10 Oct 2026
- Interest, swaps and commission questions Phillip Nova · Accessed 10 Oct 2026
- Margin calls, low equity, weekend requirements and expiry dates Phillip Nova · Accessed 10 Oct 2026
- MT5 FAQs, version 28 October 2024, indexed margin and contract sections Phillip Nova · Accessed 10 Oct 2026
- Current fees and charges by market and dealing channel Phillip Nova · Accessed 10 Oct 2026
- Fractional US shares and standard-share commission schedules Phillip Nova · Accessed 10 Oct 2026
- Shares margin trading, collateral and financing mechanics Phillip Nova · Accessed 10 Oct 2026
- Cash stocks and ETFs, market access and platform charges Phillip Nova · Accessed 10 Oct 2026
- Futures and options markets and platform access Phillip Nova · Accessed 10 Oct 2026
- TradingView account connection and supported access Phillip Nova · Accessed 10 Oct 2026
- NOVA, MT5 and TradingView platform overview Phillip Nova · Accessed 10 Oct 2026
- NOVA web and mobile multi-asset platform Phillip Nova · Accessed 10 Oct 2026
- 29 September 2026 notice: temporary US stock and ETF TAF change Phillip Nova · Accessed 10 Oct 2026
- 6 April 2026 notice: SEC sell-side fee change Phillip Nova · Accessed 10 Oct 2026
- 14 September 2026 notice: selected US share CFDs move to 24-hour contracts Phillip Nova · Accessed 10 Oct 2026
- 8 September 2026 notice: weekly expiry of COMEX 100-ounce silver orders Phillip Nova · Accessed 10 Oct 2026
- CME market-data subscription and non-professional fee waiver Phillip Nova · Accessed 10 Oct 2026
- Institutional services and customised connectivity Phillip Nova · Accessed 10 Oct 2026
- Institutional brochure: FIX and web API order routing Phillip Nova · Accessed 10 Oct 2026
- Product and leveraged-trading risk disclosure Phillip Nova · Accessed 10 Oct 2026
- Product information sheet: OTC CFD structure and counterparty exposure Phillip Nova · Accessed 10 Oct 2026
- Customer Trading Agreement: suspensions, margin and liquidation powers Phillip Nova · Accessed 10 Oct 2026
- Trading-product questions: FX settlement, NDFs and bullion Phillip Nova · Accessed 10 Oct 2026
- Client-portal dealing hours and order-handling notes Phillip Nova · Accessed 10 Oct 2026
- New-to-trading service and dealing-desk questions Phillip Nova · Accessed 10 Oct 2026
- Client-service and feedback contacts Phillip Nova · Accessed 15 Oct 2026
- Phillip Nova education and research services Phillip Nova · Accessed 10 Oct 2026
- Exchange-traded products and daily leveraged or inverse objectives Phillip Nova · Accessed 10 Oct 2026
- SGX perpetual futures and accredited, expert or institutional eligibility Phillip Nova · Accessed 10 Oct 2026
- Phillip Nova Pte. Ltd.: named MAS Financial Institutions Directory entry Monetary Authority of Singapore · Accessed 10 Oct 2026
- FIDReC complaint filing and referral period FIDReC · Accessed 15 Oct 2026
- FIDReC jurisdiction and monetary limits FIDReC · Accessed 15 Oct 2026
- FIDReC mediation and adjudication process FIDReC · Accessed 15 Oct 2026
This profile reports dated public information, including broker-published services and terms. It does not independently test or guarantee execution, pricing or withdrawals. Inclusion is not an endorsement. Permissions and protections apply only to the named legal entity, service and client category; check the current official records and your contract.