Local Futures

Last updated on 17 May, 2018

  1. Please note that Phillip Commodities (HK) Limited ("Phillip") does not accept deposit from third party. Client can deposit funds to the designated "Bank Accounts". A crossed personal cheque should be made payable to "Phillip Commodities (HK) Limited".
  2. If client account contains insufficient trading currency or deficit in any currency due to trading loss, this negative balance will be charged with interest.
  3. The contract margin levels abide by the requirement of the exchanges. Phillip reserves the right to adjust the initial margin and maintenance margin of the contract according to the market conditions and without further notification.
  4. If withdrawal instruction is given on a working day before 9:20am, we will be processed on the same day. Alternatively, we will be deposited the cheque to client’s bank account or client can pick up the cheque at our head office.


  1. Every trading contract has a variety of trading months and the trading volume differs correspondingly. Therefore, client must make sure which month of the future contract is the most suitable.
  2. After client deposits the funds into his Phillip account, notification should give on a working day before 5:00pm and the funds will show up on the selected platform account on the next working day if the funds are recognized successfully. If client intends to trade on the same day, client needs to send the deposit slip (only accepted cash deposit) to Customer Service Department by fax (852) 2277 6008 or email to cs@phillip.com.hk and call client’s Account Executive or dealer to place order.
  3. For any updated personal information, client should inform us as soon as possible. For personal information such as residential address, contact number, email address or bank account information etc., client should submit the "Account Particulars Amendment Form" or written instruction with signature. For change of address or correspondence address, client may be required to provide the address proof dated within the last three months.
  4. For E-statement service, client should ensure the email account can receive email successfully.
  5. For reason of security and protecting client’s benefit, client should change the password of online trading system(s) periodically.
  6. If client does not receive statement from Phillip Commodities (HK) Limited, or you have any suggestion or enquiry, please contact our customer service hotline at (852) 2277 6555 or email at cs@phillip.com.hk.
  7. Please refer to here for our fees and charges.
  8. If client is interested in our investment products, please feel free to contact client’s Account Executive, call our Customer Service Department at (852) 2277 6555 or visit our website.


Last updated on 29 Jan, 2015

Settlement & Funds Deposit

Bank Lists*. Please visit Deposit:Bank Accounts
*Deposit slip must be fax to our Futures Department (852) 2277 6866 with phone confirmation or email to futures@phillip.com.hk.

After Hours Futures

HKEX opened up After Hours Futures Trading Session from 5:15 pm to 3:00 am in which local futures options cannot be traded**. We will make our own calculation for the theoretical price of local futures options based on the price change of local futures. We will base on our internal risk control system to consider whether client have enough equity to open or close local futures position in After Hours Futures Trading Session.
**by the date this document is last edited. After-hour trading session is subjected to HKEX future amendment and Phillip will make necessary change.


Margin Requirement

The minimum margin levels for Futures Contracts can be found on the HKEX website. Nevertheless, our Company has the right to set a higher margin requirement according to each client's circumstances.


Margin Call:

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

  1. deposit the margin amount; or
  2. transfer from other Phillip accounts; or
  3. close out position.

Otherwise, Phillip will force liquidate the account position.  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 account position and allow sufficient equity to cover potential margin shortfall. 

Force Liquidation Policy:

1.  Phillip will make best effort to call client margin, however, it may not be able to contact client  timely due to various reasons (including volatile market condition).
If client cannot restore the account equity to initial margin level within specified time, 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 any force liquidated position(s) by telephone, email or message, and also have those transactions identified in 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.

Stop Loss Orders

Stop Loss Orders can help you to minimize potential losses, to protect unrealised gains at a pre-determined level in adverse market conditions or to initiate a new position. A Stop Loss Order may be executed when the pre-determined target price is triggered even where clients do not hold such a position.


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Tel : (852) 2277 6555
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Email : cs@phillip.com.hk

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