PhillipCapital launches UK retail FX operations


24 April, AtoZForex.com, Lagos — The PhillipCapital group, consisting of various firms and headquartered in Singapore, has recently announced the launch of a new retail Forex market arm for the European region. Interestingly, PhillipCapital launches UK retail FX under the new operative name PhillipCapital UK. Considering, the name implies that the new office is targeted for its UK operations.

Further penetration of the UK Market

PhillipCapital UK is a London-based subsidiary of the Singapore headquartered PhillipCapital group. The holding company is involved in Capital Markets Services and holds a dealing licence in securities, fund management, corporate finance, securities financing and custodial services. These provided services of the financial firm has been granted by the Monetary Authority of Singapore, which is commonly abbreviated as MAS.

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Having this latest development within the PhillipCapital Group, it marks further penetration into the UK market. Considering that PhillipCapital Group's first acquisition of an UK firm dated back to 2002, with the take over of King & Shaxson. Hence, the newly established PhillipCapital UK brand is actually under the name of King & Shaxson Capital Limited. By virtue the new online trading in foreign exchange, CFDs and commodities provider, becomes regulated by the Financial Conduct Authority.

PhillipCapital group's US market plans

Now that the PhillipCapital Group has launched its UK retail Forex subsidiary, the broker pioneers with 37 Forex pairs, 12 Index CFDs, Gold, Silver and Oil contracts. Altogether, the financial firm is providing a maximum leverage of offering 1:200. Notwithstanding, all these are tradable on the MT4 platform for PC, as well on mobile devices. As PhillipCapital launches UK retail FX, the group already has an Australian FX arm, which got established back in 2013. For the near future, the holding is looking to penetrate the US market as well.

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