PN
Phillip Nova
3.4 / 5Score: 2 / 3
MAS-regulated multi-asset trading with higher leverage flexibility for serious forex and CFD traders.
- Min deposit
- $0
- Max leverage
- 1:20
- Spread from
- 0.6 pips
- Regulators
- MAS
Reviewed by Experts Updated 11/3/2026
Phillip Nova vs SBI Securities: Which Broker Wins in 2026?
Phillip Nova and SBI Securities serve very different trader profiles, yet both compete for attention among Asia-Pacific investors. Our independent research gives Phillip Nova the overall edge at 3.4/5 versus SBI Securities's 3.2/5, though SBI Securities fights back hard on raw spread pricing.
SS
SBI Securities
3.2 / 5Score: 1 / 3
A century-rooted Japanese institution offering razor-thin 0-pip spreads for cost-focused equity investors.
- Min deposit
- $0
- Max leverage
- 1:3
- Spread from
- 0 pips
- Regulators
- FSA
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 Nova
Best for Beginners
Phillip Nova
Lowest Fees
SBI Securities
Top Regulation
Phillip Nova
Side-by-side comparison
Core features compared head-to-head.
| Feature | PN Phillip Nova | SS SBI Securities |
|---|---|---|
| Overview | ||
| Rating | 3.4 / 5 | 3.2 / 5 |
| Founded | 2005 | 1944 |
| Headquarters | Singapore | Tokyo, Japan |
| Regulation | MAS | FSA |
| Fees & Limits | ||
| Min Deposit | $0 | $0 |
| Spreads From | 0.6 pips | 0 pips |
| Commission | None | None |
| Max Leverage | 1:20 | 1:3 |
| Platforms & Markets | ||
| Trading Platforms | Proprietary Web, Proprietary Mobile, POEMS | Proprietary Web, Proprietary Mobile, HyperSBI 2 |
| Markets Offered | Forex, Cfd, Indices, Commodities, Crypto | Stocks, Etf, Crypto, Indices |
Trading & non-trading fees
Min Deposit
Phillip Nova
$0
SBI Securities
$0
Spreads From
Phillip Nova
0.6 pips
SBI Securities
0 pips
Commission
Phillip Nova
None
SBI Securities
None
Deposit Fees
Phillip Nova
None
SBI Securities
None
Withdrawal Fees
Phillip Nova
None
SBI Securities
None
Pros & cons
PN
Phillip Nova
Pros
- Higher overall independent rating at 3.4/5
- Backed by MAS, a globally respected tier-1 regulator
- Offers leverage up to 1:20, well above SBI Securities's 1:3 cap
- Broader multi-asset market coverage spanning five asset classes
- Commission-free trading with no deposit or withdrawal charges
- Accessible to all traders with a $0 minimum deposit
- Dedicated POEMS platform built for active traders
Cons
- Spreads from 0.6 pips are wider than SBI Securities's 0-pip offering
- Single regulatory licence (MAS) compared to brokers with multi-jurisdictional coverage
- Younger company history (founded 2005) relative to SBI Securities
- No dedicated MetaTrader 4 or 5 support for traders wanting third-party platforms
- Limited presence outside the Singapore/regional trading sphere
SS
SBI Securities
Pros
- Tighter spreads starting from 0 pips
- Exceptionally long operating history dating back to 1944
- Strong specialization in Japanese stocks and ETFs
- No commission charges on trades
- Zero minimum deposit makes it highly accessible
- No deposit or withdrawal fees
- Dedicated HyperSBI 2 platform for serious equity traders
Cons
- Lower overall independent rating at 3.2/5
- Maximum leverage capped at just 1:3, limiting amplified exposure
- Narrower market selection compared to Phillip Nova's five asset classes
- FSA regulation lacks the tier-1 global prestige of MAS
- No forex or commodities trading available directly
Our expert verdict
Editor's verdict
Overall winner Phillip Nova
Lowest fees SBI Securities
Best regulation Phillip Nova
Better for beginners Phillip Nova
Phillip Nova is our recommended pick overall, scoring 3.4/5 against SBI Securities's 3.2/5 in our independent rating. Phillip Nova's MAS regulation, broader multi-asset market access, and higher leverage ceiling make it the stronger all-round package for most forex and CFD traders. SBI Securities remains a compelling alternative for cost-conscious investors chasing 0-pip spreads and those wanting exposure to Japanese stocks and ETFs through a long-established, century-old-adjacent institution. Ultimately, your choice should hinge on whether you prioritize regulatory strength and leverage flexibility (Phillip Nova) or rock-bottom spread pricing and equities access (SBI Securities).
Regulation & Trust
Regulatory strength is one of the clearest differentiators in this matchup. Phillip Nova is licensed by the Monetary Authority of Singapore (MAS), widely regarded as one of the most respected tier-1 financial regulators globally, offering traders a high degree of confidence around capital protections and operational oversight.
SBI Securities operates under the FSA (Financial Services Agency) in Japan, which is also a credible and well-established regulator, but it does not carry quite the same tier-1 global prestige that MAS commands in the forex and CFD space.
For traders who weigh regulatory jurisdiction heavily in their broker selection, Phillip Nova's MAS licence gives it a meaningful trust advantage, which is reflected directly in our independent 'Best for Regulation' award.
Fees, Spreads & Costs
This is where SBI Securities claws back ground. SBI Securities advertises spreads starting from 0 pips, undercutting Phillip Nova's starting spread of 0.6 pips on comparable instruments.
Neither broker charges deposit or withdrawal fees, and both operate on a zero-commission structure, so the headline cost comparison essentially comes down to spread competitiveness rather than hidden fee structures.
For high-frequency or scalping-style traders where every fraction of a pip matters, SBI Securities's tighter pricing could translate into meaningful savings over time. However, Phillip Nova's spreads remain reasonably competitive for a broker offering a wider multi-asset product suite.
Account Access & Minimum Deposit
Both brokers remove the barrier to entry entirely, with Phillip Nova and SBI Securities each requiring a $0 minimum deposit to open an account.
This makes both platforms equally accessible to beginner traders or those wanting to test strategies with smaller capital allocations before scaling up.
Since neither broker differentiates on deposit requirements, this category effectively ties, shifting more decision weight onto regulation, leverage, and market access.
Leverage & Market Access
Phillip Nova offers considerably higher maximum leverage at 1:20, compared to SBI Securities's more conservative 1:3 ceiling. This makes Phillip Nova notably more appealing to active forex and CFD traders who want to amplify position sizing.
Market breadth also favors Phillip Nova, which spans Forex, CFDs, Indices, Commodities, and Crypto — five distinct asset classes in total. SBI Securities focuses more narrowly on Stocks, ETFs, Crypto, and Indices.
Traders primarily interested in Japanese equities and ETFs will find SBI Securities's specialization valuable, while those seeking diversified multi-asset exposure with leverage flexibility will likely lean toward Phillip Nova.
Trading Platforms & Technology
Phillip Nova supports its own Proprietary Web and Proprietary Mobile platforms alongside POEMS, its flagship trading terminal built for Singaporean and regional investors.
SBI Securities counters with Proprietary Web and Proprietary Mobile offerings plus HyperSBI 2, a platform tailored specifically toward active Japanese stock market participants with advanced charting and order tools.
Both platform suites are proprietary rather than built on third-party frameworks like MetaTrader, meaning the user experience and tool depth will come down to personal preference and the specific markets each trader intends to access.
Company Heritage & Stability
SBI Securities brings an extraordinary legacy to the table, tracing its roots back to 1944 and establishing itself as one of the most enduring financial institutions in Japan's securities landscape.
Phillip Nova, founded in 2005, is comparatively younger but still represents nearly two decades of operational experience within the Singaporean financial ecosystem.
While longevity isn't the sole indicator of broker quality, SBI Securities's extensive operating history may offer additional peace of mind to traders who value deep institutional track records.
Verdict summary
The bottom line — category winners and our final pick based on ratings.
Editor's verdict
Phillip Nova wins overall
Phillip Nova edges out SBI Securities overall based on our expert rating score.
PN
Highest Rated
Phillip Nova
3.4 / 5 / 5
Category winners
Overall winner
Based on overall expert rating (3.4/5).
Phillip NovaBetter for beginners
Stronger onboarding and educational resources.
Phillip NovaLower trading costs
More competitive spreads and baseline commissions.
SBI SecuritiesStronger regulation
Higher trust based on tier-1 regulatory oversight.
Phillip Nova
Frequently asked questions
Based on our independent rating system, Phillip Nova edges out SBI Securities with a score of 3.4/5 compared to 3.2/5. Phillip Nova's advantage comes largely from its stronger MAS regulation, higher leverage ceiling, and broader multi-asset market access. That said, SBI Securities remains competitive for traders focused specifically on Japanese equities and ultra-tight spreads, so the right choice depends on your individual trading priorities.
SBI Securities technically offers lower entry-level spreads, starting from 0 pips, compared to Phillip Nova's spreads from 0.6 pips. Both brokers charge no commissions and no deposit or withdrawal fees, so the primary cost differentiator between them comes down to spread pricing on your traded instruments.
Neither broker requires a minimum deposit to open an account, with both Phillip Nova and SBI Securities setting their minimum deposit threshold at $0. This makes both platforms equally accessible for beginner traders or those wanting to test the waters with minimal upfront capital.
Phillip Nova is regulated by the Monetary Authority of Singapore (MAS), a globally respected tier-1 financial regulator known for its strict oversight standards. SBI Securities operates under Japan's FSA, which is also a credible regulator but is generally viewed as carrying slightly less weight than MAS in the broader forex and CFD trading community.
Phillip Nova provides access to a Proprietary Web platform, a Proprietary Mobile app, and its signature POEMS trading terminal. SBI Securities offers its own Proprietary Web and Mobile apps alongside HyperSBI 2, a platform purpose-built for active Japanese stock market trading.
Yes, there is nothing stopping you from maintaining accounts at both brokers simultaneously. Many traders deliberately diversify across multiple platforms to access different asset classes, regulatory jurisdictions, and specialized tools that each broker offers.
Phillip Nova offers significantly higher maximum leverage at up to 1:20, compared to SBI Securities's more conservative cap of 1:3. Traders seeking amplified position sizing on forex and CFD instruments will find Phillip Nova's leverage terms considerably more flexible.
Phillip Nova supports a broader range of five asset classes, including Forex, CFDs, Indices, Commodities, and Crypto. SBI Securities is more narrowly focused on Stocks, ETFs, Crypto, and Indices, making it a better fit for equity-focused investors rather than diversified multi-asset traders.
No, both Phillip Nova and SBI Securities have eliminated deposit and withdrawal fees entirely. This means traders can move funds in and out of their accounts without incurring additional transaction costs from either broker.
SBI Securities has a significantly longer operating history, having been founded in 1944, compared to Phillip Nova's founding in 2005. SBI Securities's extensive institutional legacy in the Japanese securities market may appeal to traders who place high value on long-term stability and track record.
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.