PhillipCapital

What PhillipCapital does

PhillipCapital is a Singapore-headquartered financial services group founded in 1975, operating across 15 countries with connectivity to 25 futures exchanges and managing USD 65 billion in assets for over one million global customers. Through its US operating entity, Phillip Capital Inc. (Chicago), the firm is dually registered with SEC/FINRA as a broker-dealer and with CFTC as a Futures Commission Merchant, and operates as a self-clearing FCM with NFA and SIPC memberships. Core products are organized around two franchises: Securities (US equities and options trading, clearing, and custody, with add-on capabilities including fractional share trading across 8,800+ US securities, 24x5 market access, algorithmic execution, fixed income execution via FIX, securities lending, and a money market sweep program) and Global Futures & Derivatives (access to exchanges including CME Group, SGX, EUREX, and ICE, supported by CQG, Rithmic, Trading Technology, Sierra Chart, CME, and ICE platforms). A third pillar, the Introducing Broker Partnership Program, onboards Guaranteed, Independent, and Foreign IBs with multi-currency segregated account funding across nine currencies, 24/5 trade desk support, and competitive revenue sharing.

The revenue model is transaction-based across four streams: securities trading commissions, futures commissions, securities lending, and IB revenue sharing, with exchange, NFA, and platform fees passed through to clients. Customer segregated funds are held in cash, US Treasuries, and money market instruments, separate from house funds. Go-to-market is a hybrid of direct institutional sales, the IB partnership network, and a self-service online portal, with no broad consumer marketing motion. The group's customer segments are horizontally diversified across money managers, hedge funds, CTAs, commercial hedgers (producers, shippers, refiners), professional and proprietary traders, ETFs, index funds, market makers, retail traders, and financial institutions.

Recent strategic activity includes the December 2025 acquisition of UK wealth manager Walker Crips (£6 million, taking prior 29% stake to full ownership), Rs 420 crore (~$50 million) of outbound investments into the Navi group across 2025-2026, and June 2026 discussions with the Tashkent Republican Stock Exchange regarding SGX-Tashkent dual listings. The group also wholly owns Phillip Bank Plc. in Cambodia, which won a 2025 digital transformation award. PhillipCapital remains privately held with no disclosed external venture or private equity investors; ownership appears concentrated with the founding/controlling group.

Name

PhillipCapital

Legal name

Phillip Capital Inc.

Website

http://www.phillipcapital.com

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

PhillipCapital is a privately held Singapore-founded financial group (1975) operating a self-clearing US broker-dealer and FCM in Chicago, serving institutional, professional, and retail clients across 15 countries with $65B AUM, multi-asset clearing, and an Introducing Broker network spanning 25 global exchanges.

Ownership category

akta.pro rank

Product category

Brokerage and Clearing Services

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (523160)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Clearing Broker / Carrying Broker (FCM & Clearing) (FSAEACAF)

akta.pro secondary industries

Prime Brokerage Custody & Asset Servicing (Custody Component) (FSAFAHAF), Prime Brokerage & Institutional Trading Services (FSAPADAF)

Keywords

• Securities clearing services
• Futures commission merchant
• Institutional brokerage
• Introducing broker partnerships
• Global exchange access

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Securities Trading Commissions: Commission-based revenue from trading and clearing US equities and options for institutional and professional clients
2. Futures Commission Revenue: Commissions earned from futures and derivatives trading across global exchanges including CME Group, ICE, EUREX, and others
3. Securities Lending: Revenue generated from lending and borrowing securities, enhancing portfolio returns for clients
4. IB Partnership Revenue Sharing: Revenue sharing model with Introducing Brokers who bring client accounts to the platform

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

PhillipCapital operates as a self-clearing broker-dealer and Futures Commission Merchant (FCM) providing trading, clearing, and custody services for US-listed equities and options, plus global futures and derivatives execution across 25 exchanges covering North America, Asia Pacific, and Europe/Middle East. The firm serves institutional clients, professional traders, hedge funds, money managers, commercial hedgers, and Introducing Brokers through direct sales and partnership channels. Customer funds are fully segregated from house funds, with no proprietary trading, and accounts can be funded in multiple major currencies.

Product overview

Phillip Capital operates as a dually registered broker-dealer and Futures Commission Merchant (FCM) offering a unified platform for global securities and derivatives trading. The core product portfolio consists of Securities (Equities and Options) and Global Futures & Derivatives services, supported by an Introducing Broker Partnership Program for multi-asset clearing. The Securities offering includes add-on features such as Fractional Share Trading, 24x5 Market Access, Algorithmic Trading, Fixed Income Execution, Money Market Sweep Program, and Securities Lending Services. Futures services provide access to 25+ exchanges worldwide with multiple execution platforms (CQG, Rithmic, Trading Technology, Sierra Chart). A complementary Customer Segregated Funds service protects client assets in segregated accounts. The company serves ETFs, Money Managers, Financial Institutions, Commercial Hedgers, Professional Traders, Proprietary Traders, Producers, Shippers, Brokers, Index Funds, Retail Traders, Refiners, CTAs, Hedge Funds, and Market Makers.

Differentiator

Problem solved

Functional benefit

Products and services

• Securities (Equities and Options) Full-service broker-dealer offering trading, clearing, and custody for US-listed equities and options, supporting institutional and professional clients with extended trading hours and multiple execution options.
• Global Futures and Derivatives Access to futures markets across North America, Asia Pacific, and Europe/Middle East through multiple exchanges including CME Group, SGX, EUREX, ICE, and others, with real-time execution and global clearing infrastructure covering financials, energy, currencies, metals, and agricultural commodities.
• Introducing Broker (IB) Partnership Program Partnership program for Introducing Brokers (Guaranteed, Independent, or Foreign) providing multi-asset clearing broker-dealer capabilities, access to 25+ futures exchanges worldwide, authorized trading platforms, competitive revenue sharing, and 24/5 global trade desk support with streamlined online onboarding.
• Customer Segregated Funds Fund protection service ensuring customer funds are held in segregated bank accounts separate from Phillip Capital house funds, invested only in highly liquid assets such as cash, US Treasuries, and money market funds.

Quantifiable outcome

• Over 1 million global customers served by the group
• +1 more outcomes

Named customers2 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered minor and core.

• Tashkent Republican Stock ExchangeminorStrategic or Co-development Partner · 18 June 2026PhillipCapital held talks with officials at the Tashkent Republican Stock Exchange in Uzbekistan to explore cross-border collaboration. The firm expressed readiness to provide practical support for establishing dual-listing mechanisms between the Singapore Exchange and the Tashkent exchange, aiming for greater regional capital market integration.
• Phillip Bank Plc.coreOthersPhillip Bank Plc., Cambodia's only Singaporean-owned bank, is part of the PhillipCapital Group. The bank was awarded Best Digital Transformation Initiative by International Finance Awards 2025 and has shareholders' funds exceeding USD 179 million.

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Interactive Brokers: Interactive Brokers (IBKR) is a global multi-asset self-clearing broker-dealer offering equities, options, futures, FX, and fixed income across 150+ markets. It competes directly with PhillipCapital for institutional, professional, and active retail clients, with overlapping 24-hour, multi-currency, and algorithmic trading capabilities.
• Marex: Marex is a global financial services platform and FCM providing execution and clearing across commodities, equities, FX, and fixed income, with a strong IB and institutional focus. It mirrors PhillipCapital's global clearing model, multi-asset reach, and reliance on the Introducing Broker channel.
• ED&F Man Capital Markets: ED&F Man Capital Markets is a global FCM and broker-dealer serving institutional and IB clients with clearing, execution, and market access across futures, securities, and commodities. It is highly comparable to PhillipCapital in terms of IB partnerships, multi-jurisdiction footprint, and futures-heavy client base.
• StoneX Group: StoneX is a publicly traded global FCM and broker-dealer offering execution, clearing, and trading in commodities, securities, FX, and derivatives, with an extensive IB and institutional network. It is a direct comparable in the self-clearing, multi-asset, IB-channel-driven brokerage space.
• Saxo Bank: Saxo Bank is a multi-asset broker providing equities, options, futures, FX, and CFDs across global exchanges with a strong Singapore/APAC presence. It competes with PhillipCapital for active retail and professional traders seeking multi-asset, multi-market access under a single platform.
• ADM Investor Services: ADM Investor Services (ADMIS) is a global FCM and broker-dealer offering futures execution and clearing, institutional research, and IB services. It competes head-to-head with PhillipCapital's futures and commodity-focused clearing business.
• RJ O'Brien: RJ O'Brien (RJO) is one of the largest non-bank FCMs in the US, providing futures and options clearing, execution, and IB services globally. It is comparable to PhillipCapital in its IB-driven model and global clearing footprint.
• Sucden Financial: Sucden Financial is a London-based broker and FCM offering execution and clearing across futures, options, FX, and securities to institutional and professional clients. It overlaps with PhillipCapital in serving CTAs, hedge funds, and commercial hedgers across global exchanges.
• Wedbush Securities: Wedbush Securities is a US-based broker-dealer and FCM offering prime brokerage-like execution, clearing, and custody across equities, options, and futures. It competes directly with PhillipCapital for professional and institutional clients, particularly on the West Coast and in futures clearing.

Broad incumbents

• Charles Schwab: Charles Schwab is a large incumbent US broker-dealer offering equities, options, futures, fixed income, and FX trading, with a much larger retail and institutional footprint than PhillipCapital. It is relevant as a much larger competitor shaping commission pricing and product expectations across the brokerage category.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/phillip-securities-pte-ltd
• Xx.com/phillipcapital
• Facebookfacebook.com/PhillipCapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments10 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PhillipCapital