Monex vs Phillip Nova 2026: Which Broker is Better?
Choosing between Monex and Phillip Nova depends on your trading style, preferred markets, and budget. Monex is headquartered in Tokyo, Japan, while Phillip Nova operates from Singapore. Monex has the longer track record, established in 1999, compared to Phillip Nova which was founded in 2005. This in-depth comparison covers regulation, fees, platforms, markets, and overall ratings to help you decide which broker is the better fit in 2026.
Monex
Phillip Nova
| Monex | Phillip Nova | |
|---|---|---|
| BrokerRank Score | 3.5/5 ✓ | 3.4/5 |
| Min. Deposit | $0 | $0 |
| Spread from | 0 pips ✓ | 0.6 pips |
| Max Leverage | 1:3 | 1:20 ✓ |
| Regulation | FSA, SEC ✓ | MAS |
| Platforms | Proprietary Web, Proprietary Mobile, TradeStation JP | Proprietary Web, Proprietary Mobile, POEMS |
Monex is the better choice overall, scoring 3.5/5 vs 3.4/5 on BrokerRank's independent rating. On fees, Monex offers lower spreads (0 pips).
See full side-by-side comparison belowMonex vs Phillip Nova: Key Differences
Monex
WinnerPhillip Nova
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Fees Comparison
Monex
Phillip Nova
Regulation & Trust
Monex holds licences from SEC, FSA. Phillip Nova is regulated by MAS.
Markets & Assets
Both brokers offer access to Crypto, Forex markets. Monex additionally covers Stocks, Etf. Phillip Nova adds Cfd, Indices, Commodities.
Fees & Spreads
On spreads, Monex is more competitive with EUR/USD spreads from 0.0 pips, compared to 0.6 pips at Phillip Nova.
Trading Platforms
Monex supports Proprietary Web, Proprietary Mobile, TradeStation JP. Phillip Nova offers Proprietary Web, Proprietary Mobile, POEMS. Both brokers are available on Proprietary Web, Proprietary Mobile.
Minimum Deposit
Monex requires no minimum deposit, while Phillip Nova sets no minimum deposit. This makes Monex accessible to traders with any budget.
Overall Ratings
BrokerRank scores Monex at 3.42/5 and Phillip Nova at 3.39/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. Monex leads overall with a marginal advantage.
BrokerRank Verdict
Who Should Choose Which?
Monex
3.5/5
Choose Monex if you want…
- Higher overall rating (3.5/5)
- Tighter spreads (from 0 pips)
- More regulatory licences (2)
- More established (est. 1999)
Phillip Nova
3.4/5
Choose Phillip Nova if you want…
- No per-trade commission
- Higher leverage (up to 1:20)
- More market types (5)
Also consider
We earn a commission when you open an account through these links, at no extra cost to you. Our ratings are scored independently — see the full independent ranking.
Both Monex & Phillip Nova are available in
Frequently Asked Questions
1Is Monex better than Phillip Nova?
Monex scores higher overall on our independent rating system. Monex holds a 3.5/5 rating vs Phillip Nova's 3.4/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
2Which has lower fees, Monex or Phillip Nova?
Monex offers spreads from 0 pips, while Phillip Nova starts at 0.6 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for Monex vs Phillip Nova?
Monex requires a minimum deposit of $0. Phillip Nova requires $0.
4Which broker is safer, Monex or Phillip Nova?
Monex is regulated by FSA, SEC, while Phillip Nova holds licences from MAS.
5What trading platforms do Monex and Phillip Nova support?
Monex supports Proprietary Web, Proprietary Mobile, TradeStation JP. Phillip Nova supports Proprietary Web, Proprietary Mobile, POEMS.
6Can I use both Monex and Phillip Nova?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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