Funds Deposit & Withdrawal

Banker’s Guarantee and Letter of Credit can be used as margin for Futures contracts.

However we do not accept Banker’s Guarantee or Letter of Credit for margin on leveraged Forex/Bullion trades.

For further clarification please call our Marketing Hotline (+65) 6538 0500 or email futures@phillip.com.sg

The funds in your Phillip Futures Account are segregated from your funds in your Phillip Securities account. You can use the Online Withdrawal facilities in Client Portal to transfer your funds from your Phillip Futures account to Phillip Securities account.  For transferring funds from Phillip Securities to Phillip Futures, please contact Phillip Securities at (65) 6531 1555 for assistance.

We will require a minimum of 1 business day to complete your withdrawal request . For same business day processing, please note the following timings:

Cut-off timings for same day processing

• For online withdrawal: 9.15 am daily.
• For withdrawal forms received via email or fax: 10.00 am daily.
• For SGD withdrawal, the funds will be transferred to your bank account on the day of processing.
• For foreign currency withdrawal, the duration taken for processing is dependent on the receiving bank.

If you submit your withdrawal request before the stipulated cut-off time, it will be processed within the same day. Else it will be processed on the next business day. Do also provide us with a copy of the corresponding bank statement by sending it to futures@phillip.com.sg or update your bank details with us using the Phillip Futures Client Portal if you have yet to do so. The bank statement should include the following details:

1. Bank Name
2. Your Name
3. Bank Account Number
4. Statement Date (within 3 months)

For updating using the Phillip Futures Client Portal, please refer to the below guide: Log in to the Phillip Futures Client Portal → E-SERVICES → Update particulars → Bank details → click on ‘Edit’ → Input bank information and upload bank statement → Submit

Online withdrawal via the Phillip Futures Client Portal Log into the Phillip Futures Client Portal → E-SERVICES → Fund Withdrawal

• Check on the currency to be withdrawn
• Insert the amount you wish to withdraw
• Select the option of how you wish to receive your fund
• Click “Submit” to confirm the transfer

Please contact our Client Service Desk at (65) 6538 0500 or email futures@phillip.com.sg if you need help logging into the Client Portal. Complete the withdrawal form You can download the withdrawal form from our website here. Alternatively, you can obtain a physical copy from our office or request for one from our Client Service desk at (65) 6538 0500 or email to futures@phillip.com.sg. Note:

• If you had your account approved via the online account opening process, please submit your fund withdrawal request via the Phillip Futures Client Portal instead of using the withdrawal form.
• The cut-off time for online withdrawal submission is 9.15am and hardcopy form is 10am, any submission thereafter will be processed the next business day.

• For any other query regarding fund withdrawal, you may contact us at (65) 6538 0500 or email futures@phillip.com.sg for assistance.

• Remittance charges will be borne by the client and will be charged by banks processing the remittance. Phillip Futures does not charge any fees.

Important To Note

Please ensure that:

• Payee/beneficiary name is PHILLIP FUTURES PTE LTD
• Your Phillip Futures account no. (e.g. ABC1234) is indicated under Initial/Reference/Description/Detail/Comment/Remarks
• Please enter your Phillip Futures account number without any hyphens, punctuation or spaces.

• Your proof of transfer is emailed to futures@phillip.com.sg. For deposits made for margin calls/low equity purposes, please email the proof of transfer to pfpl_risk@phillip.com.sg.

• Deposits made to Phillip Futures are not immediately received ​and instructions to liquidate in part or all of your positions may still arise before your funds are credited into your account. To avoid forced liquidation of positions, your deposits must be cleared and booked into your account/trading platform. Please note that liquidation instructions are irrevocable, even though we may be in the process of receiving your funds or crediting them into your account/trading platform.

PayNow – SGD only

Internet Bank Transfer/Fast and Secure Transfer (FAST)

Bill Payment Service via DBS/POSB Internet Banking – SGD only

eNETS Deposit – SGD only

Telegraphic Transfer (TT)/Cash Deposit Over Bank Counter

Fund transfer from Phillip Group Accounts

Additional Notes

• For any other query regarding funds deposit, you may contact us at (65) 6538 0500 or email futures@phillip.com.sg.

• Funds transfers to our Citibank accounts will be credited by the next business day.
• Supporting document(s) may be required to ascertain the source of funds.
• An email notification will be sent upon successful crediting of funds.
• There may be delays in the crediting of clients’ funds arising from delays or service disruptions on the banking service providers’ end.
• Funds received via telegraphic transfer will be charged a USD10 processing fee.
• There may be additional fees charged by the bank(s) involved in the processing of the telegraphic transfer. Phillip Futures will credit the actual amount received.