Related FAQs: General | Account | Products | Trading Platform | Trading

Futures/Derivatives Trading

Q1. What is Futures trading?
Q2. How do I find out a particular contract’s trading hour?
Q3. How do I place my orders or trade?
Q4. What other support does Phillip Futures provide to clients to trade Futures?

Commodity Trading

Q1. What is Commodity trading?
Q2. What are the commodity’s products offered by Phillip Futures?
Q3. How do I place my orders or trade?
Q4. What other support does Phillip Futures provide to clients to trade commodity?

Spot Forex Trading

Q1. What is SPOT FOREX trading?
Q2. What is the trading hours of FOREX market?
Q3. Is there an expiry date for SPOT FOREX contract?
Q4.  What is swap?
Q5. What is the standard contract size for trading SPOT FOREX?
Q6. What are the currencies that offered by Phillip Futures?
Q7. How do I place my orders or trade?
Q8. What other support does Phillip Futures provide to clients to trade FOREX?
Q9. Can I close out my 100K position with mini FX position?
Q10. What is the spread quoted by Phillip Futures?

Gold/Silver Trading

Q1. What are the different types of Gold/Silver trading available in Phillip Futures?
Q2. How is the interest on Gold/Silver contract being calculated?
Q3. Under what circumstances do I incurred interest or earned interest?
Q4. How do I place my orders or trade?
Q5. What other support does Phillip Futures provide to clients to trade Gold/Silver?

Futures Option Trading

Q1. For Option, buy call or buy put, do we need to pay margin?
Q2. Sell call or sell put, what is the margin requirement?
Q3. For Option, do we needs to pay commission?
Q4. After the Option expired, do we still need to pay commission?
Q5. How do I place my orders or trade?
Q6. What other support does Phillip Futures provide to clients to trade Futures Option?

Futures/Derivatives Trading

Q1. What is Futures trading?
A futures contract is an agreement to buy or sell a specified amount of a commodity at specified price on a specified future date. A commodity is either something physical like grains, meats, food and fiber, or it is something intangible like stock indexes, currencies, and interest rates.

For more information, please visit our website.

Q2. How do I find out a particular contract’s trading hour?
Please approach our Marketing Desk at Main Office or Investor Centers for the contract’s trading hours. You may also can view from the margin list at POEMS > Futures > Attention > Margin Update.

Q3. How do I place my orders or trade?
You have the choice of trading electronically via POEMS, POEMS Professional, or P-Trader. You may also call to the Futures Dealing Desk to trade at (65) 6535 1155 which is operated 24-hour.

Click here for the different types of trading platform offered by Phillip Futures.

Q4. What other support does Phillip Futures provide to clients to trade Futures?
Beside 24-hour Futures Dealing support, we also provide Advisory services to our clients.

Commodity Trading

Q1. What is Commodity trading?
Commodity trading is an agreement to buy or sell a set amount of a commodity at a predetermined price and date. Buyers use these to avoid the risks associated with the price fluctuations of the products or raw material, while sellers try to lock in a price for their products. Like in all financial markets, others are such contracts to gamble on price movement.

For more information, please visit our website.

Q2. What are the commodity products offered by Phillip Futures?
Phillip Futures offers commodity products based on three main products:

1. Energy Futures contracts: Crude Oil, Mini Crude Oil, Natural Gas, Mini Natural Gas, and Gasoline.
2. Metal Futures contracts: Gold, Mini-sized Gold, Silver, Mini-sized Silver, Copper, Palladium, and Platinum.
3. Agricultures Futures contracts: Corn, Soybeans, Soybean Oil, Soybean Meal, Oats, Wheat, WCE Canola, Live Cattle, lean Hog, Feeder Cattle, Pork Bellies, Cotton, orange Juice, Cocoa, Coffee, Sugar, and Red Hard Winter Wheat.

Q3. How do I place my orders or trade?
You have the choice of trading electronically via POEMS, POEMS Professional or P-Trader. You may also call to the Futures Dealing Desk to trade at (65) 6535 1155 which is operated 24-hour.

Click here the different types of trading platform offered by Phillip Futures.

Q4. What other support does Phillip Futures provide to clients to trade commodity?
Beside 24-hour Futures Dealing support, we also provide Advisory services to our clients.

Spot Forex Trading

Q1. What is SPOT FOREX trading?
The Foreign Exchange market, also referred to as the “FOREX” or “FX” market is the largest financial market in the world, with a daily average turnover of approximately US$1.5 trillion. Foreign Exchange is the simultaneous buying of one currency and selling of another.

For more information, please visit our website.

Q2. What is the trading hours of SPOT FOREX market?
SPOT FOREX market is unique from any other financial market, as trading is available 24-hour a day. At Phillip Futures, we provide a 24-hour Dealing and Advisory support service. Our day order is defined as 7 am to 5 am (Singapore time)

Q3. Is there an expiry date for SPOT FOREX contract?
SPOT FOREX contract in theory is explained as trading of 2 currencies for settlement within 2 business days. However, if client has an open position, Phillip Futures will do a “rollover” for clients automatically and there is no fees involved in the rollover process. Thus the client will not need to worry about monitoring the contracts expiration date. In other words, unlike Futures contracts or equities, clients with SPOT FOREX open position can hold their position for as long as they want, provided they have sufficient margins in their account to finance the position(s).

(Rollover is a process whereby the settlement of the contract is roll forward or brought forward to the next value date).

Q4. What is swap?
In FOREX trading, there is another element known as swap, or commonly known as the interest differential between 2 currencies.

Illustration:
If a client is buying a currency of higher interest rate than the other one he is selling, he will gain swap points (or earn interest), vice versa.

For more detail rate of the swap point for each currency pair, please contact our SPOT FOREX/Gold Dealing Desk at (65) 6536 7200 or Marketing Desk at (65) 6538 0500.

     
Q5. What is the standard contract size for trading SPOT FOREX?
The standard unit size of transaction at Phillip Futures is 100,000 units of the base currency (This is applicable for most contracts except for some of the exotic crosses).

You can also trade the smaller contract size of 10,000 units on Mini FX contracts.

Q6. What are the currencies that offered by Phillip Futures?
Phillip Futures offers more than 20 currencies pairs for trading (including the G7 majors, crosses and other exotics currencies).

We also offer some Asia currency contracts for trading like USD/CNY, USD/MYR, etc. For more information, please call our Marketing Desk at (65) 6538 0500.

Q7. How do I place my orders or trade?
You have the choice of trading electronically via POEMS or calling to the SPOT FOREX/Gold Dealing Desk to trade at (65) 6536 7200 which is operated 24-hour.

Q8. What other support does Phillip Futures provide to clients to trade SPOT FOREX?
Beside 24-hour Dealing support, we also provide Advisory services to our clients.

Q9. Can I close out my 100K position with mini FX position?
No. 100K and 10K contracts are considered as different contracts.

Q10. What is the spread quoted by Phillip Futures?
Competitive 1 pip onwards spread on major currency pairs (Even on Mini FX).

Gold/Silver Trading

Q1. What are the different types of Gold/Silver contracts available in Phillip Futures?
Phillip Futures has the following Gold trading products available:

1) Spot Loco London Gold/Silver trading
2) Spot Mini-Gold trading
3) Gold Futures and Options

Q2. How is the interest on Gold/Silver contract being calculated?
Interest on the SPOT Gold contract is calculated based on the prevailing interest rate of SPOT Gold in the market, the cost price of your SPOT Gold position and the amount of time that you held on to your SPOT Gold position.

For more information, please call our Marketing Desk at (65) 6538 0500.

Q3. Under what circumstances do I incurred interest or earned interest?

*All the methods above are based on the condition of the SPOT Gold interest rate.

Q4. How do I place my orders or trade?
Clients have the choice of trading electronically via POEMS or calling to our Dealing Desk to trade at (65) 6531 1555 (Futures Gold) or (65) 6536 7200 (SPOT Gold) which are operated 24-hour.

Q5. What other support does Phillip Futures provide to clients to trade Gold/Silver?
Beside 24-hour Dealing support, we also provide Advisory services to our clients.

Futures Options Trading

Q1. For Options, buy call or buy put, do we need to pay margin?
For the buyer of the Options, the buyer only pays the premium of the Options.

Q2. Sell call or sell put, what is the margin requirement?
As the seller of the Options, mostly a full margin equivalent to that of the underlying Futures contract is required for the margin. This is calculated and computed by the SGX SPAN system for Options margining.

Q3. For Options, do we need to pay commission?
Yes, it works the same way as trading the Futures contracts.

Q4. After the Options expired, do we still need to pay commission?
No, because the Options value depreciate with time and it become worthless when the Options expired.

Q5. How do I place my orders or trade?
Selective Options contract can trade electronically via POEMS Professional. However, you may call to the Futures Dealing Desk at (65) 6535 1155 to trade all Options contracts.

Q6. What other support does Phillip Futures provide to clients to trade Futures Options?
Beside 24-hour Dealing support, we also provide Advisory services to our clients.