Clients may place order via our online trading platform (POEMS/XATS/POEMS Mobile App) or call our LFX dealing hotline (Hong Kong time: 05:15 (Monday) to 04:59 (Saturday), Winter-Time: postponed 1 hour), directly at (852) 2277 6667.

For every single transaction, clients may choose:
The duration of order instruction: (1) Day order or (2) Good-till-cancel order;
The type of order instruction: (1) Market order, (2) Limit order, or (3) Stop order

Phillip places a trading limit on each Leverage Foreign Exchange account,capped by default Margin Limit, which determines the maximum amount of lots that a client may trade.The margin limit will be listed on the welcome letter for new client via postal mail, it will be shown on each Forex account statement under the item name “position limit”. 

E.g. If the margin limit is set at HK$100,000 and the initial margin is HK$4,000. The trading limit would be 25 lots (HK$100,000/HK$4,000=25).

In the case of trading limit shortfalls during the order placing process, the orders will be rejected automatically. If you would like to raise the limit, please call our 24-hours LFX dealing hotline directly at (852)2277 6667.

In Forex market, trading is mainly based on buying/selling a contract. Please refer to the following example:

Calculation method:
(selling price - purchase price) x contract amount x lots - commission = profit / loss

Example 1:

Example 2:

In the above examples, commission needs to be deducted from the final figure to determine the net profit/loss for the transaction. Please note that the examples above depict a day order trade only. For overnight positions, clients are reminded to include the receivable/payable interest in order to calculate the net profit/loss.

Minimum commission of online trade is HKD 6 per lot per side。Minimum commission of phone dealing is HKD10 per lot per side(effective from 3rd April 2017)。The commission of HKD / CNH and CNH / JPY contract are waived.

If client buys 1 lot EUR/USD at 1.3, the contract size is EUR10,000 and the Rate of USD/HKD is 7.778 (for reference).

The client is required to provide sufficient initial margin prior for Forex trading, and the equity balance must be at least kept at the maintenance margin level of all open positions.

1. For order placed via platforms, reject the order automatically.
2. For market order via direct hotline, partial trade order may be executed according to the most updated margin status.
3. For working order, order will be rejected even the preset price level is reached.

When the account equity falls below the maintenance margin level, Phillip will make best effort to issue margin call via phone, email or text message (where applicable) etc., requesting the client to restore the account equity to the initial margin level within a specified time via one of the following actions:

1. Deposit the margin amount; or
2. Transfer from other Phillip accounts; or
3. Close out the open positions.

Otherwise, Phillip will force liquidate the open positions.  Client shall remain liable for any deficit in the account.
Moreover, at volatile market conditions, Phillip reserves the right to call for margin deposit from time to time.  Client should always pay attention to open positions and allow sufficient equity to cover potential margin shortfall.

1. Phillip will make best effort to call client margin, however, it may not be able to contact client in a timely manner due to various reasons (including volatile market conditions). If client cannot restore the account equity to initial margin level within specified time or if the account equity falls below the "Force Liquidation level", Phillip may request client to or force close position(s).
2. If equity falls below the required margin level or has negative balance when market opens after weekend or holiday, Phillip will make best effort to call client margin or force close position(s) at market price.  Client shall remain liable for any deficit in the account.
3. Phillip will notify client of any force liquidated position(s) by telephone, email or message, and also identified those transactions in the statement.  If the force liquidation is not sufficient to cover negative balance in the account, client shall remain liable for any deficit in the account.
4. The risks associated with leveraged foreign exchange trading can be extremely high. During volatile market conditions, Phillip may not be able to immediately close positions on accounts that have fallen beyond the force liquidation level. The client may suffer a loss in excess of the initial margin amount.