Is Phillip Futures safe and legit？ Full review
Phillip Futures is an Indonesia-based broker established in 2018, holding full regulatory licenses from three Indonesian authorities: the Indonesia Commodity and Derivatives Exchange (ICDX), the Badan Pengawas Perdagangan Berjangka Komoditi Kementerian Perdagangan (BAPPEBTI), and the Jakarta Futures Exchange (JFX). The broker holds a "C" influence rank and a 8.22 score. The firm offers proprietary trading platforms available on mobile (Android and iOS) and provides customer support in English through multiple channels, including phone, email, and social media. While the broker benefits from comprehensive regulation and a long-established presence, user feedback is mixed, with a few serious complaints, and some users report long waiting times for customer service.
Regulation and Safety
Phillip Futures is regulated by three official Indonesian financial authorities, each indicating full compliance:
- Indonesia Commodity and Derivatives Exchange (ICDX) – License number 027/SPKB/ICDX/DIR/VI/2010
- Badan Pengawas Perdagangan Berjangka Komoditi Kementerian Perdagangan (BAPPEBTI) – License number 69/BAPPEBTI/SI/9/2010
- Jakarta Futures Exchange (JFX) – License number SPAB-152/BBJ/12/05
All three regulators are listed with a "Full Regulation" status, which is a positive indicator for the broker's safety. The broker is based in Indonesia and was established in 2018.
Phillip Futures uses proprietary trading platforms developed in-house. These platforms are primarily available for mobile devices, supporting both Android and iOS operating systems. The specific applications offered are "JAFETS NOW" and "Phillip Nova 2.0". The platform experience is described as "medium", offering customizability and clear expense reporting. However, it lacks two-step login and biometric authentication features. The platform supports simulated trading but does not offer EA trading, copy trading, or built-in trading tools.
Customer Service
Customer support is available in English across several channels: phone at +62 021 5790 6525, email at futures@phillip.co.id, and through social media platforms including X (Twitter), Facebook, Instagram, YouTube, and WhatsApp. The main service region is Indonesia. It is noted that while support is available, response times may be longer than desired.
User Reviews and Feedback
User feedback on the broker is limited but polarized. The broker has a total of 2 user reviews, with an average score of 3.0 out of 5.0. One user left a very negative review, claiming their trading profits were erased and their deposit was not refunded. Another user provided a generally positive review, finding the platform easy to use with reasonable spreads and a good range of instruments. The positive review also mentioned the platform is user-friendly for setting trade stops and profit levels.
Key Highlights
- Regulators: Indonesia (ICDX, BAPPEBTI, JFX)
- Trading Platform Type: Proprietary (Research Independent)
- Cryptocurrency Support: Not allowed
- EA Trading: Not allowed
- Established Year: 2018
- Influence Rank: C
- Average Influence Index: 4.69
Advantages and Disadvantages
Advantages:
- Regulated by multiple authorities (three Indonesian regulators)
- Long-standing establishment (since 2018)
- Online customer support available
Disadvantages:
- Customer support may have long waiting times
Exposure and Complaints
According to the available data, there are 0 exposure or complaint records for Phillip Futures.
5-10 years
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