Exclusive inside report: Singaporean futures giant Phillip Capital ready to launch MT4 retail FX brokerage

Sinagporean institutional futures giant Phillip Capital has been expanding its business and diversifying into areas which break ahead of its origins in traditional Asia-Pacific exchange-traded futures.

In November 2015, Phillip Capital CEO Teyu Che Chern explained to FinanceFeeds CEO Andrew Saks-McLeod at a private meeting in New York which was attended by senior executives from some of North America’s most prominent electronic exchanges and derivatives market places that the company was preparing to partner with …. in Chicago to approach the US market.

Today, the company has announced a further diversification, this time in the form of the launch of a retail spot FX brokerage, which will offer 32 currency pairs via the MetaTrader 4 platform, under the website www.phillipfx.com

Currently, the website is not yet live, but its launch is imminent, however traders can register for demo accounts at this stage.

Indeed whilst many FX brokerages have spent the last year heading toward multi-asset product offerings, CFDs, equities and futures, Phillip Capital, with its origins in the traditional equities and futures sector, has gone full circle and entered the retail FX arena.

Phillip Capital’s recent foray into the US market, where it has an office in Chicago with 25 staff, echos the firm’s corporate drive to bring Asian exchanges to within easy reach of American traders, and the move toward retail FX was something which Mr. Che Chern explained to FinanceFeeds was on the agenda for the wider global audience outside the US during a private meeting with FinanceFeeds on November 18 last year.

In Asia, and particularly the company’s native Singapore, Phillip Capital is a vast company with a 40 year history, and has, among other aspects, a commercial relationship with ICE. Phillip Capital’s Singapore headquarters is a clearing member of ICE Singapore, whereas Phillip Capital’s Chicago division is a clearing member of ICE in Chicago.

During the meeting in New York, Mr. Che Chern explained to FinanceFeeds the company’s plan to enter the retail FX market. “Forex is certainly on the agenda on an off-exchange basis here in the US too. Philip Capital became an FDM and broker dealer. “In other parts of the world we have OTC FX business, with presence in UK, Australia, Turkey, Japan, Hong Kong and Singapore, whereas our futures business is largely centered around our operations in Japan, Hong Kong, Thailand, Singapore, Malaysia, Turkey, India, Dubai and Indonesia. ” said Mr. Teyu Che Chern.