Phillip Futures: Help: FAQs: Trading FAQs

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

Call-In (Dealing Desk)

Q1. What is the procedure to call-in and place trade?
State your order clearly to the Dealer, paying attention to the contract month (Futures trading), quantity, and order buy or sell.

Q2. How do I know which products are suitable for me?
To discuss the advantages/disadvantages of the products, you may sign up our education services as below:

Free Seminar and Events
One to One Coaching
Personalized Coaching Service

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

Q3. How do I get confirmation if I place an order with the Dealer and it’s done?
You may call to the Dealing Desk at (65) 6535 1155 (Futures) or (65) 6536 7200 (SPOT FOREX/Gold) to confirm the trades done.

Q4. Can I call-up the dealer to check on my Net Position?
Yes, you may call to the Dealing Desk at (65) 6535 1155 (Futures) or (65) 6536 7200 (SPOT FOREX/Gold) to check your Net position.

Margin Call

Q1. What is margin?
Margin is the equivalent of a good faith’s deposit placed by the parties to a contract. It’s a small percentage, usually between 2% and 15%, of the value of the contract that is deposited with a Broker to show the commitment to the contract entered into by the customer. The amounts of the minimum Margin deposits are determined by the respective Exchanges and are subjected to changes due to price movement and/or market volatility. Phillip Futures may set a higher margin requirement.

Trading with Margin creates a “leverage effect” that allows an investor to use a small amount of money to make an investment of greater value so that a small price change can result in relatively larger profits or losses.

Q2. How would I know if I have a margin call?
When your Equity Balance (ledger Balance +/- unrealized Profit/Losses) falls below the maintenance margin level, you are considered to be on Margin Call.

Once the equity balance falls below the maintenance margin level, notification will be issued to clients to top up funds so as to return the equity balance to the Initial Margin level. The margin call notification will usually be made by a telephone call. If you are not contactable, we will send the notification via SMS and/or email to your registered mobile phone number and/or email address. Please ensure that your contact details are updated at all time to avoid any miscommunication.

While we will try our best to notify a customer of margin calls, in the event that a customer is not notified of any margin call, Phillip Futures reserves the right to liquidate the customer position(s) on the occurrence of either the total equity balance faces full depletion, or the Margin Call is not met by T+2, whichever occurs first.

Q3. What should I do if I have a margin call?
To meet the call, you can either top-up your account back to the initial margin level or liquidate sufficient open positions to bring the initial margin level below the Equity Balance of your account.

Q4. How much time do I have to top-up for my margin call?
You are given up to Trade date + 2 (T+2) business days to top-up your account upon the occurrence of Margin Call. It will be considered as T+1 business day when you receive the first margin call notification. Therefore you actually have one more day to respond to us.

In extremely adverse market conditions, Phillip Futures might require a customer to top-up his account within a reasonable time (2 hours may be deemed as reasonable time). Phillip Futures reserves the right to liquidate the customer position(s) on the occurrence of either the total equity balance faces full depletion, or the Margin Call is not met by T+2, whichever occurs first.

Q5. What will happen if I do nothing to my margin call on second day?
If you did not top up your account by the due date, Phillip Futures have the absolute discretion and without further notice to you, liquidate the position(s) to bring your equity balance above your Initial Margin level.

Q6. Can I trade when I have an outstanding margin call?
When you have an outstanding margin call, you may only place risk reducing trades. However, You may place risk increasing trades upon successfully topping up of your account with sufficient funds to extinguish the outstanding margin call and for the margin of the new trades, before the respective cut-off timing on the first day of margin call (T+1). Phillip Futures reserves the right not to accept any orders resulting in risk increasing trades.

Q7. How do I top-up my margin call?
Please refer to Accounts FAQ under Top-Up Section.

Error Trade

Q1. There is a trade that shown in my account but its not done by me. How I can verify?
Please call to the Dealing Desk at (65) 6535 1155 (Futures) or (65) 6536 7200 (SPOT FOREX/Gold) to check your trade done with the Dealers.

Q2. I think the Dealer place an order for me with the wrong execution price, how can I verify?
Please call to the Dealing Desk at (65) 6535 1155 (Futures) or (65) 6536 7200 (SPOT FOREX/Gold) and verify with them about the order price.

Type of Orders (Definition)

Q1. Limit Order
An order places to Buy/Sell at a price upon submitted or better. A Limit order sets the price at which the trader is willing to buy or sell at. Accordingly, whereas a price of Buy Limit order should be lower than the market price, a price of Sell Limit order should be higher than the market price.

Q2. Stop Order
A Stop order is a risk management order type which trader use to limit their losses or protecting their existing position. It can be use to initial new position. A Sell Stop usually place below current market price and Buy Stop will be placed above current market price. In addition to risk management purpose, some people use Stop order to trade on the market break.

Q3. Stop on Bid Order (SOB)
Example:

BID	ASK
1.3880	1.3885

Buy Stop on Bid

When a Trader submits an order to Buy Stop on Bid at 13880
The order to Buy Stop on Bid at 1.3880 will be initiated when the market price reaches 1.3880 on the Bid side. It will be then executed at the next best available OFFER price.

Sell Stop on Bid

When a Trader submits an order to Sell Stop on Bid at 1.3880
The order to Sell Stop on Bid at 1.3880 will be initiated when the market price reaches 1.3880 on the Bid side. It will be then executed at the next best available BID price.

Q4. Stop on Offer Order (Ask) (SOO)
Example:

BID	ASK
1.3875	1.3880

Buy Stop on Offer

When a Trader submits an order to Buy Stop on Offer at 13880
The order to Buy Stop on Offer (Ask) at 1.3880 will be initiated when the market price reaches 1.3880 on the Offer (Ask) side. It will be then executed at the next best available OFFER price.

Sell Stop on Offer

When a Trader submits an order to Sell Stop on Offer at 1.3880
The order to Sell Stop on Offer (Ask) at 1.3880 will be initiated when the market price reaches 1.3880 on the Offer (Ask) side. It will be then executed at the next best available BID price.

Q5. OCO Order (One Cancel Other)
An order stipulating that if one part of the order is executed, the other part is automatically cancelled:
OCO Limit Order being executed, OCO Stop on Offer/Bid will be cancelled.
OCO Stop on Offer/Bid being executed, OCO Limit will be cancelled.

Q6. GTC Order (Good-till-cancel)
A Good-till-cancel (GTC) order will remain active until the Trader decides cancel it. NOTE: Clients will not be able to withdraw or amend GTC order submitted through POEMS from Saturday 5 am to Monday 7 am.
Orders can only be withdrawn or amended through call-in to the Dealing Desk at (65) 6535 1155 (Futures) or (65) 6536 7200 (SPOT FOREX/Gold).

Q7. Market on Close Order
A Market on Close order is market order that done before the market close. The order will be executed on the nearest price to closing market price.

Call-In (Dealing Desk)

Margin Call

Error Trade FAQs

Type of Orders (Definition)

Call-In (Dealing Desk)

Margin Call

Error Trade

Type of Orders (Definition)