PC
Phillip Capital
3.7 / 5Score: 3 / 4
A century-adjacent legacy broker delivering tier-1 regulatory strength with zero-pip spreads for cost-conscious multi-asset traders.
- Min deposit
- $0
- Max leverage
- 1:5
- Spread from
- 0 pips
- Regulators
- MAS, ASIC
Reviewed by Experts Updated 8/25/2026
Phillip Capital vs Phillip Nova: Which Singapore Broker Wins in 2026?
Phillip Capital and Phillip Nova are both Singapore-headquartered brokers, but they differ sharply on regulation, spreads, and leverage. Our 2026 comparison breaks down exactly which platform delivers better value depending on your trading priorities.
PN
Phillip Nova
3.4 / 5Score: 1 / 4
A flexible, higher-leverage trading gateway built for traders who want commission-free execution and broader platform choice.
- Min deposit
- $0
- Max leverage
- 1:20
- Spread from
- 0.6 pips
- Regulators
- MAS
Overall Winner
Phillip Capital
Best for Beginners
Phillip Capital
Lowest Fees
Phillip Capital
Top Regulation
Phillip Capital
Side-by-side comparison
Core features compared head-to-head.
| Feature | PC Phillip Capital | PN Phillip Nova |
|---|---|---|
| Overview | ||
| Rating | 3.7 / 5 | 3.4 / 5 |
| Founded | 1975 | 2005 |
| Headquarters | Singapore | Singapore |
| Regulation | MAS, ASIC | MAS |
| Fees & Limits | ||
| Min Deposit | $0 | $0 |
| Spreads From | 0 pips | 0.6 pips |
| Commission | $0.08/lot | None |
| Max Leverage | 1:5 | 1:20 |
| Platforms & Markets | ||
| Trading Platforms | Proprietary Web, Proprietary Mobile | Proprietary Web, Proprietary Mobile, POEMS |
| Markets Offered | Stocks, Forex, Cfd, Indices, Commodities | Forex, Cfd, Indices, Commodities, Crypto |
Trading & non-trading fees
Min Deposit
Phillip Capital
$0
Phillip Nova
$0
Spreads From
Phillip Capital
0 pips
Phillip Nova
0.6 pips
Commission
Phillip Capital
$0.08/lot
Phillip Nova
None
Deposit Fees
Phillip Capital
None
Phillip Nova
None
Withdrawal Fees
Phillip Capital
None
Phillip Nova
None
Pros & cons
PC
Phillip Capital
Pros
- Backed by nearly five decades of operating history since 1975, signaling long-term stability
- Holds two respected regulatory licences (MAS and ASIC) rather than a single jurisdiction
- Spreads from 0 pips give active traders a meaningful cost advantage over time
- Transparent low commission of just $0.08 per lot with no hidden deposit or withdrawal charges
- No minimum deposit threshold makes the broker accessible to traders at any capital level
- Diversified market access across five asset classes including stocks, a rarity among CFD-focused brokers
- Higher overall independent rating of 3.7/5 reflecting stronger all-round performance
Cons
- Maximum leverage is capped at just 1:5, notably lower than many competitors including Phillip Nova
- Platform selection is limited to proprietary web and mobile, with no MetaTrader or POEMS access
- No cryptocurrency market access, unlike Phillip Nova's broader offering
- Conservative leverage may frustrate short-term traders seeking higher capital efficiency
- Proprietary-only platform ecosystem may not suit traders wanting third-party charting integrations
PN
Phillip Nova
Pros
- No per-trade commission simplifies cost calculations for frequent traders
- Higher leverage ceiling of 1:20 offers greater capital efficiency than Phillip Capital's 1:5
- Widest platform selection of the two brokers, including the dedicated POEMS system
- Cryptocurrency access broadens the tradable universe beyond traditional asset classes
- Zero minimum deposit keeps the barrier to entry low for new traders
- Established Singapore headquarters since 2005 with a regional reputation
Cons
- Single regulatory licence (MAS only) offers narrower oversight than Phillip Capital's dual-regulation setup
- Wider spreads starting from 0.6 pips increase trading costs versus Phillip Capital's 0 pips
- Lower overall independent rating of 3.4/5 versus Phillip Capital's 3.7/5
- No direct stock market access, unlike Phillip Capital's broader equities offering
- Higher leverage on offer can amplify losses as much as gains for undisciplined traders
Our expert verdict
Editor's verdict
Overall winner Phillip Capital
Lowest fees Phillip Capital
Best regulation Phillip Capital
Better for beginners Phillip Capital
Phillip Capital is our recommended pick, scoring 3.7/5 versus Phillip Nova's 3.4/5 on our independent rating scale. It wins on regulatory strength with dual MAS and ASIC licensing, and on cost with spreads from 0 pips versus 0.6 pips. Phillip Nova remains a credible alternative for traders prioritizing higher leverage, crypto access, or the POEMS platform.
Regulation & Safety
Phillip Capital holds licences from both MAS in Singapore and ASIC in Australia, giving it dual tier-1 regulatory coverage. This dual oversight structure typically means stricter capital adequacy requirements and more robust client fund segregation rules across two major jurisdictions.
Phillip Nova, by contrast, operates under a single MAS licence. While MAS is a well-respected regulator in its own right, relying on one jurisdiction offers less redundancy than Phillip Capital's two-licence structure.
For traders who weigh regulatory strength heavily in their broker selection, Phillip Capital's broader licensing footprint is a clear differentiator and a primary reason it earns our 'Best for Regulation' award.
Fees, Spreads & Commissions
Cost efficiency is one of the starkest differences in this matchup. Phillip Capital offers spreads from 0 pips paired with a low flat commission of $0.08 per lot, while Phillip Nova offers commission-free trading but with wider spreads starting at 0.6 pips.
For high-frequency or volume-based traders, Phillip Capital's near-zero spread structure combined with its modest per-lot fee is likely to produce lower total trading costs over time. Phillip Nova's zero-commission model may appeal more to traders who value fee simplicity over raw spread tightness.
Neither broker charges deposit or withdrawal fees, and both maintain a $0 minimum deposit requirement, so funding costs and entry barriers are effectively neutral between the two.
Trading Platforms & Tools
Phillip Capital keeps things streamlined with Proprietary Web and Proprietary Mobile platforms only. This simplicity suits traders who want a clean, no-frills interface without needing to navigate multiple software ecosystems.
Phillip Nova goes a step further by also offering POEMS, its dedicated proprietary system, in addition to the standard web and mobile options. This gives Phillip Nova a slight edge in platform variety for traders who want more tool choice.
Neither broker currently offers third-party platforms like MetaTrader 4 or 5, which may be a limiting factor for traders accustomed to those industry-standard charting and automation ecosystems.
Leverage & Market Access
Phillip Nova offers considerably higher maximum leverage at 1:20 compared to Phillip Capital's more conservative 1:5 cap. Traders seeking greater capital efficiency on smaller account sizes may find Phillip Nova's leverage terms more attractive.
On market breadth, Phillip Capital includes direct stock trading alongside forex, CFDs, indices, and commodities, while Phillip Nova swaps stocks for cryptocurrency access instead.
The choice here largely comes down to individual strategy: equities-focused traders will lean toward Phillip Capital, while those wanting crypto exposure or higher leverage will find Phillip Nova's structure more accommodating.
Company Background & Track Record
Phillip Capital was founded in 1975, giving it nearly five decades of operating history and a well-established reputation in the Singapore financial services landscape. Its longevity often translates into deeper institutional infrastructure and broader financial resources.
Phillip Nova, founded in 2005, is comparatively newer but still carries three decades of shared heritage given its association with the wider Phillip group of companies. Both brokers are headquartered in Singapore.
Track record and history aren't everything, but for risk-averse traders, Phillip Capital's longer operating tenure adds an extra layer of confidence.
Our Verdict
Taking regulation, fees, and overall rating together, Phillip Capital comes out ahead with a 3.7/5 score versus Phillip Nova's 3.4/5. It's the stronger all-round choice for most traders, particularly those prioritizing regulatory safety and lower trading costs.
That said, Phillip Nova isn't a poor choice — its higher leverage, crypto market access, and additional POEMS platform make it a legitimate option for traders with those specific priorities.
Ultimately, both brokers share the same Singapore roots and zero minimum deposit accessibility, so the decision comes down to whether you value tighter spreads and dual regulation (Phillip Capital) or higher leverage and platform variety (Phillip Nova).
Verdict summary
The bottom line — category winners and our final pick based on ratings.
Editor's verdict
Phillip Capital wins overall
Phillip Capital edges out Phillip Nova overall based on our expert rating score.
PC
Highest Rated
Phillip Capital
3.7 / 5 / 5
Category winners
Overall winner
Based on overall expert rating (3.7/5).
Phillip CapitalBetter for beginners
Stronger onboarding and educational resources.
Phillip CapitalLower trading costs
More competitive spreads and baseline commissions.
Phillip CapitalStronger regulation
Higher trust based on tier-1 regulatory oversight.
Phillip Capital
Frequently asked questions
Phillip Capital scores higher overall on our independent rating system. Phillip Capital holds a 3.7/5 rating vs Phillip Nova's 3.4/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
Phillip Capital offers spreads from 0 pips, while Phillip Nova starts at 0.6 pips. Check the fees section above for a full breakdown of commission and spread structures across both brokers.
Phillip Capital requires a minimum deposit of $0. Phillip Nova also requires $0, meaning both brokers are equally accessible for traders starting with limited capital.
Phillip Capital is regulated by MAS and ASIC, while Phillip Nova holds a licence solely from MAS. The dual tier-1 regulatory coverage gives Phillip Capital a stronger overall safety profile in our assessment.
Phillip Capital supports Proprietary Web and Proprietary Mobile platforms. Phillip Nova supports those same two platforms plus POEMS, giving it a slightly broader platform selection overall.
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets, leverage tiers, and tools that best suit each specific trading strategy.
Phillip Nova offers higher maximum leverage at 1:20 compared to Phillip Capital's 1:5. Traders seeking greater capital efficiency may lean toward Phillip Nova, though higher leverage also carries increased risk.
Neither broker charges deposit or withdrawal fees, making both cost-neutral when it comes to funding or withdrawing from your trading account through standard payment methods.
Phillip Nova includes cryptocurrency in its market offering alongside forex, CFDs, indices, and commodities. Phillip Capital does not list crypto, focusing instead on stocks, forex, CFDs, indices, and commodities.
Phillip Capital was founded in 1975, giving it roughly three decades more operating history than Phillip Nova, which was established in 2005. Longevity can be a useful indicator of institutional stability.
Risk warning: Trading CFDs and forex involves significant risk of loss and is not suitable for all investors. Please consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.