PHG Trading has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: 1800 558 017, 1800 988 244
Addresses: Level 21 360 Collins Street Melbourne VIC 3000 This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.phgtrading.com.
The only good thing about PHG Trading is that they remind you why regulation matters. I found them after hearing about them at a conference. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Responsive team|API access
Cons: Some tools only available on higher tiers|No phone support on weekends
The hidden fees at PHG Trading are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Two-factor authentication|Great customer service
Cons: Cannot customize dashboard fully
I experienced a security concern with my PHG Trading account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: Instant funding|Intuitive for beginners|Helpful community forum|Tax reports included
Cons: Limited cryptocurrency options
I trusted PHG Trading with a significant portion of my savings and I deeply regret that decision. Not because of market losses, but because of how poorly the platform performed and how dismissively the support team treated my concerns.
Pros: Multiple order types|Regular updates|Dividend tracking|Good mobile app
Cons: Inactivity fee applies after 12 months|No crypto staking
After since the beginning of the year with PHG Trading, I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.
Pros: Low minimum deposit|Tax reports included|Helpful community forum
Cons: No live chat on mobile
Opened my account with PHG Trading after a family member had a good experience and regretted it within the first month. The platform crashed during a critical moment, I lost potential gains, and support basically told me it was not their problem. Absolutely unacceptable behavior.
Pros: Automated trading options|Personal attention|Demo account available|Two-factor authentication
Cons: No live chat on mobile
My withdrawal from PHG Trading was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. for over three years of being strung along.
Pros: Fast deposits|Copy trading available|Social trading features
Cons: Nothing significant
After for nearly two years with PHG Trading I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Reliable uptime|Real-time alerts
Cons: No live chat on mobile|Search feature is basic
PHG Trading has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Easy withdrawals|High security standards|Clear documentation|Regular updates
Cons: Mobile app could be improved
The so-called education at PHG Trading is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for roughly four months thinking they would help me learn.
Pros: Transparent fees|Portfolio tracking tools|Tax reports included|Fast execution
Cons: Slow to add new assets|Spreads widen during volatile periods