PC
Phillip Capital
3.7 / 5Score: 3 / 3
A multi-regulated veteran broker combining 50 years of heritage with modern low-cost, multi-asset trading.
- Min deposit
- $0
- Max leverage
- 1:5
- Spread from
- 0 pips
- Regulators
- MAS, ASIC
Reviewed by Experts Updated 10/13/2026
Phillip Capital vs UOB Kay Hian: Which Singapore Broker Wins in 2026?
Phillip Capital and UOB Kay Hian are two established Singapore-based brokers with decades of market presence. Our in-depth analysis shows Phillip Capital edging ahead with a 3.7/5 rating versus 3.3/5, thanks to stronger regulatory coverage and lower trading costs.
UK
UOB Kay Hian
3.3 / 5Score: 0 / 3
A legacy Singaporean brokerage offering the widest platform choice, including the dedicated UTRADE terminal.
- Min deposit
- $0
- Max leverage
- 1:5
- Spread from
- 0 pips
- Regulators
- MAS, SFC
Our #1 Pick Right Now: AvaTrade
Same category, top-tier regulation, and it's currently accepting new traders.
See What Makes It Different 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 | UK UOB Kay Hian |
|---|---|---|
| Overview | ||
| Rating | 3.7 / 5 | 3.3 / 5 |
| Founded | 1975 | 1973 |
| Headquarters | Singapore | Singapore |
| Regulation | MAS, ASIC | MAS, SFC |
| Fees & Limits | ||
| Min Deposit | $0 | $0 |
| Spreads From | 0 pips | 0 pips |
| Commission | $0.08/lot | $0.18/lot |
| Max Leverage | 1:5 | 1:5 |
| Platforms & Markets | ||
| Trading Platforms | Proprietary Web, Proprietary Mobile | Proprietary Web, Proprietary Mobile, UTRADE |
| Markets Offered | Stocks, Forex, Cfd, Indices, Commodities | Stocks, Etf, Indices, Forex |
Trading & non-trading fees
Min Deposit
Phillip Capital
$0
UOB Kay Hian
$0
Spreads From
Phillip Capital
0 pips
UOB Kay Hian
0 pips
Commission
Phillip Capital
$0.08/lot
UOB Kay Hian
$0.18/lot
Deposit Fees
Phillip Capital
None
UOB Kay Hian
None
Withdrawal Fees
Phillip Capital
None
UOB Kay Hian
None
Pros & cons
PC
Phillip Capital
Pros
- Backed by nearly 50 years of operational history since 1975
- Higher overall rating of 3.7/5 on our independent scale
- Lower trading commissions compared to its closest competitor
- Broader market diversity spanning five distinct asset classes
- Strong dual regulatory coverage through MAS and ASIC
- No fees on deposits or withdrawals
- Accessible to new traders with a $0 minimum deposit
Cons
- Fewer supported trading platforms than some competitors
- Maximum leverage capped at 1:5, which may limit active forex traders
- No dedicated third-party platform like MetaTrader offered
- Proprietary-only platform choice may not suit traders wanting familiar tools
UK
UOB Kay Hian
Pros
- Longer operating history, founded two years earlier in 1973
- Widest platform selection with three distinct trading options
- Dedicated UTRADE platform tailored for active stock trading
- Dual regulatory oversight from MAS and SFC
- Includes ETF access not explicitly offered by its competitor
- No fees charged on deposits or withdrawals
- Accessible entry with a $0 minimum deposit
Cons
- Lower overall rating of 3.3/5 compared to its main competitor
- Higher per-lot commission at $0.18 versus lower-cost alternatives
- Narrower asset range, lacking CFD and commodities access
- Regulatory coverage does not include a tier-1 ASIC-equivalent licence
- Maximum leverage limited to 1:5
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 the stronger overall pick, scoring 3.7/5 on our independent rating versus UOB Kay Hian's 3.3/5. Phillip Capital wins on regulatory depth (MAS, ASIC), lower per-lot commissions ($0.08 vs $0.18), and broader market access across five asset classes. UOB Kay Hian remains a credible alternative for traders drawn to its longer operating history or the dedicated UTRADE platform, but for most investors Phillip Capital delivers the stronger all-round package.
Regulation & Safety
Both brokers are headquartered in Singapore and regulated by the Monetary Authority of Singapore (MAS), providing a solid regulatory baseline for local traders. However, Phillip Capital extends its oversight further by also holding an ASIC licence from Australia, a tier-1 regulator known for its rigorous standards on client fund segregation and capital adequacy.
UOB Kay Hian, by comparison, pairs its MAS licence with Hong Kong's SFC, which is also respected but gives it a slightly different regulatory footprint focused more on Asia-Pacific markets rather than a true multi-continent spread.
For traders who prioritize layered regulatory protection across jurisdictions, Phillip Capital's MAS plus ASIC combination gives it a measurable edge. This is reflected directly in our scoring, where Phillip Capital earned a perfect 3/3 on regulatory strength versus UOB Kay Hian's 0/3.
Fees, Spreads & Commissions
Cost is often the deciding factor for active traders, and this is where Phillip Capital pulls clearly ahead. Both brokers advertise spreads starting from 0 pips, so on raw spread alone the two are evenly matched.
The real differentiator is commission structure. Phillip Capital charges just $0.08 per lot, less than half of UOB Kay Hian's $0.18 per lot, which compounds significantly for high-frequency or high-volume traders over time.
Neither broker charges deposit or withdrawal fees, and both have a $0 minimum deposit requirement, making account entry accessible regardless of starting capital. For cost-conscious traders, the lower commission rate alone makes Phillip Capital the more economical long-term choice.
Trading Platforms & Tools
Phillip Capital offers a Proprietary Web platform and a Proprietary Mobile app, giving traders a consistent, in-house experience across devices. These platforms are built to integrate directly with Phillip Capital's own research and account infrastructure.
UOB Kay Hian goes a step further on platform count, supporting its own Proprietary Web and Mobile apps alongside the dedicated UTRADE platform, a recognizable brand among Singaporean retail stock traders.
While UOB Kay Hian technically offers more platform options, quantity doesn't always equal quality. Traders who value a streamlined, unified experience may prefer Phillip Capital's simpler two-platform approach, while those wanting a specialized dedicated trading terminal may lean toward UTRADE.
Market Access & Product Range
Phillip Capital supports a broader asset class range, covering Stocks, Forex, CFDs, Indices, and Commodities — five distinct market types in total. This diversity appeals to traders who want to manage multiple strategies from a single account.
UOB Kay Hian offers Stocks, ETFs, Indices, and Forex, totaling four market categories. Notably, UOB Kay Hian includes ETF access, which Phillip Capital's listed markets do not explicitly feature, giving it a niche advantage for passive index-style investors.
Overall, traders seeking CFD and commodities exposure alongside traditional equities will find Phillip Capital's range more comprehensive, while ETF-focused investors may find UOB Kay Hian's offering slightly more tailored to their needs.
Company Heritage & Track Record
UOB Kay Hian has a marginally longer operating history, founded in 1973 compared to Phillip Capital's 1975 founding. Both brokers have over five decades of market presence, which speaks to their stability and resilience through multiple economic cycles.
This two-year difference in founding dates is negligible in practical terms, as both firms are deeply entrenched, well-capitalized Singaporean institutions with long-standing reputations in the region.
While heritage matters for trust, it should be weighed alongside current performance metrics like fees and regulation, where Phillip Capital shows a more modern competitive edge despite its slightly shorter history.
Our Verdict
When weighing regulation, fees, and market breadth together, Phillip Capital emerges as the stronger overall broker, backed by our 3.7/5 rating compared to UOB Kay Hian's 3.3/5. Its dual MAS and ASIC licensing, lower per-lot commission, and wider asset class coverage make it the more well-rounded option for the majority of traders.
UOB Kay Hian still holds genuine appeal for traders drawn to its longer heritage, the dedicated UTRADE platform, or its ETF offering. It remains a trustworthy and capable broker in its own right.
Ultimately, your choice should reflect your personal trading priorities — but for traders seeking lower costs and stronger regulatory layering, Phillip Capital is our recommended pick.
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 UOB Kay Hian 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 achieves the higher overall rating in our independent analysis, earning 3.7 out of 5 compared to UOB Kay Hian's 3.3 out of 5. This edge comes primarily from Phillip Capital's stronger regulatory coverage and lower commission costs. That said, the ideal broker for you depends on your specific trading priorities, so review the full comparison breakdown above before deciding.
Both brokers advertise spreads starting from 0 pips, making them comparable on raw spread pricing. However, Phillip Capital charges a lower commission of $0.08 per lot compared to UOB Kay Hian's $0.18 per lot, giving it the cost advantage for frequent traders.
Neither broker imposes a minimum deposit requirement, with both listing a $0 threshold to open an account. This makes both platforms equally accessible to traders regardless of their starting capital.
Phillip Capital holds licences from MAS and ASIC, while UOB Kay Hian is regulated by MAS and SFC. Phillip Capital's inclusion of ASIC, a globally respected tier-1 regulator, gives it a slightly stronger regulatory profile in our assessment.
Phillip Capital offers its own Proprietary Web and Proprietary Mobile platforms. UOB Kay Hian supports those same two proprietary options plus the dedicated UTRADE platform, giving it one additional platform choice overall.
Yes, there is nothing preventing traders from holding accounts at both brokers simultaneously. In fact, many traders diversify across multiple platforms to access different markets, tools, and pricing structures depending on their strategy.
Phillip Capital provides access to Stocks, Forex, CFDs, Indices, and Commodities, covering five market categories. UOB Kay Hian offers Stocks, ETFs, Indices, and Forex, totaling four categories, with ETF access being a notable inclusion not listed under Phillip Capital.
Both brokers cap maximum leverage at 1:5, meaning there is no meaningful difference between them on this particular metric. Traders seeking higher leverage ratios may need to look beyond either of these two brokers.
UOB Kay Hian was founded in 1973, making it two years older than Phillip Capital, which was established in 1975. Both brokers have over five decades of operating history in the Singapore financial market.
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.