In the field of online trading, two well-known companies are Phillip Capital and Dorman Trading. Both provide a variety of features and services geared at satisfying traders’ requirements. This essay provides you with information that will assist you in making an educated decision regarding which of the two businesses to select.
Overview of Phillip Capital and Dorman Trading
Over 15 countries around the world are served by Phillip Capital, which is a global financial institution. It provides various services in the financial industry, including brokerage, asset management, and investment banking. In online trading, Phillip Capital gives investors access to a wide range of markets, such as equities, futures, FX, and options trading.
On the other hand, Dorman Trading is what’s known as a futures commission merchant (FCM), and they’ve been in business for more than half a century. Trading futures and options are its areas of expertise, and it is a member of the National Futures Association in the United States (NFA).
Phillip Capital allows clients to trade on either the Phillip MetaTrader 5 or the Phillip Nova platform. The MetaTrader 5 platform is a well-liked option among traders and offers a variety of sophisticated tools and functions for trading. Additionally, the platform allows automatic trading and gives users access to several other markets. On the other hand, Phillip Nova is a web-based platform that provides users with fundamental trading functionality and is designed for novice traders.
CQG and NinjaTrader are the two trading platforms available to customers of Dorman Trading. Charting, market data, and order management are just some of the advanced trading features on the CQG platform, a favorite choice among professional traders. NinjaTrader is a trading platform that provides users with various useful tools, such as sophisticated charting, backtesting, and automation capabilities.
Commissions and Service Charges
Regarding the rates of fees and commissions, both Phillip Capital and Dorman Trading are on the cutting edge of the industry. The deal’s size and the type of account you have will determine the commission rate that Phillip Capital applies. Beginning at $0.60 per contract, the commission rates for trading futures and options can be found here.
Futures trading commissions begin at $0.25 per side for transactions executed through Dorman Trading, and the rates vary depending on the trade size. The company also provides a tiered commission system, so traders engaging in more frequent transactions can profit from reduced prices.
Assistance to Customers
Customer service is an essential component of online trading, and both Phillip Capital and Dorman Trading provide outstanding customer service options for their respective clients. Phillip Capital offers customer service via telephone, electronic mail, and real-time chat. The company provides users access to a knowledge base and frequently asked questions section on its website.
In addition to providing help by phone and email, Dorman Trading has a dedicated support team available to assist traders with any queries or concerns.
Education and Resources
Traders can access various instructional tools and resources when they open an account with either Phillip Capital or Dorman Trading. To assist traders in making educated choices, Phillip Capital provides them with various trading tools, seminars, and video training. In addition to this, the organization offers access to research as well as market analyses.
Moreover, webinars, videos, and articles are just some instructional resources found on the Dorman Trading website. Also, the organization gives customers access to market data and analysis, which can assist traders in making informed judgments regarding their trading activities.
In sum, both Phillip Capital and Dorman Trading are reliable businesses that provide various tools and services for traders. Both of these organizations are recommended. While deciding between the two, it is essential to consider your trading business’s specific requirements and preferences.
If you are finding a broker that provides access to a diverse selection of trading platforms and markets, Phillip Capital might be the company that best suits your needs. On the other hand, if you are more interested in trading futures and options than any other type of financial instrument, then you should choose Dorman Trading.
When choosing which firm to work with, it is critical to conduct adequate research and consider a variety of aspects, including costs, commissions, customer service, and educational materials, before settling on a provider.