To log in to the Phoenix platform, simply click here, then enter your username/password and press Log In.
If you encounter this error, you are entering incorrect login credentials. Re-enter the details (case sensitive). If this doesn’t work, reset your password.
Deposits & Withdrawals
Cash and cash equivalents cannot be accepted as we are unable to verify the origin of these funds. They will be returned upon receipt.
Neither Bank of America or Walbrook Capital Markets charge fees for incoming deposits. We recommend contacting your bank regarding any fees they or their associated intermediary banks may charge.
No. A third-party deposit will violate Walbrook Capital Markets Anti-Money Laundering policy.
Should third-party funds be received, Walbrook Capital Markets may ask for supporting documentation such as a wire confirmation and/or bank statement to prove ownership.
We neither guarantee the receipt nor the return of such payments.
Opening an Account
The fastest way to open an account is through the Phoenix online application (individual and joint accounts). Paper applications are available for other types of accounts, such as Pension and Investment Club accounts.
For more information, contact us at [email protected] or +44 (0) 20 7903 6550.
The process takes two to three business days to complete.
Yes. The minimum required to open an account is £20,000 (or currency equivalent).
Phoenix can be denominated in British pounds, euros, US dollars, Swiss francs or Australian dollars. Clients must denominate their account in one base currency.
There are certain benefits of Premium Accounts such as reduced trading costs and higher service level. To qualify, you must complete one of the following:
Documents & Forms
Send a digital version of your documents to [email protected] or fax to +44 (0) 20 7903 6117.
Ensure your name and email address are clearly visible when sending documents to Walbrook Capital Markets. If you have a temporary ID or account reference number, indicate that as well.
Steps are taken to ensure the validity of the information on the application and to protect customers from potential fraud.
Walbrook Capital Markets utilises various identification and verification systems to confirm the identities of our clients.
Sometimes, if an identity cannot be confirmed, we ask for additional information.
Walbrook Capital Markets has staff available to translate documents in many languages. If an in-house translator is not available, you may be asked to provide a certified English translation of submitted documentation.
Acceptable government-issued photo IDs include: passports, driver’s licences and national ID cards.
Other types of government-issued photo IDs may be acceptable after review on a case-by-case basis.
The government-issued photo ID must show your name (matching the name on the Phoenix Trading Agreement) and your date of birth. The ID may not be expired. If the ID has expired, but you have been granted an extension, please submit both the ID and extension.
Acceptable forms of proof of residence include: utility bills, bank or credit card statements and current lease agreements. These documents must be sent in their entirety as we cannot accept payment stubs or folded documents.
Confidential information, such as account numbers, may be removed at your discretion.
The proof of residence must show your name and home address as indicated on the trading agreement. The document must be dated within the last six months.
No. Proof of residence is used to verify the residential address as indicated on the trading agreement. Please provide your residential address.
No. We need a document that indicates your name and the address on your trading agreement.
Common solutions are a bank statement or a signed copy of the lease agreement indicating the terms of the lease.
We cannot accept any proof of residence that only provides a PO Box. A common solution is to submit a document, such as a utility bill, that shows the service address along with the mailing address.
No. We need two separate documents to satisfy the identification requirements. A driver’s licence may be used as either an ID or proof of residence but cannot be used for both. The driver’s licence must show your first and last name, residential address and date of birth, and cannot be expired.
Both account holders must provide government-issued photo IDs and documentation for proof of residence.
If both applicants indicated the same residential address one proof of residence with both names on it is sufficient.
If applicants indicate different addresses, we need a separate proof of residence for each.
Send an email to [email protected] from the email address listed on your application with a few brief sentences about your employment. For example, if you indicated on your application that you work in sales, for clarification you might indicate what products you sell.
We will need a court-issued letter indicating you were discharged from bankruptcy.
Click on the Search tab on the top left of the platform. For example, to search for GlaxoSmithKline, enter the symbol GSK or the first few letters of the share name (“glax”). The platform identifies every possible instrument available for the particular share.
Double-click the name to go to the order entry screen.
Alternatively, you can drag and drop the instrument into your watchlist at the bottom of the screen.
You can view your margin percentage in the account summary window.
There are several ways to place an equity order. Once you select a stock, by searching and double clicking, or clicking on the stock in your watchlist, you are presented with an order screen:
The order screen window is the window that allows the user to place an order, open, close and set stop loss. For equities, you can toggle the drop-down boxes to:
* Retail Service Provider—specific to UK Equities. An RSP is a firm that provides the price feed for an electronic quoting system similar to an online market marker.
Walbrook Capital Markets uses a number of RSPs with Price Improvement technology to help execute your order in accordance with our best execution policy. We attempt to execute your order electronically via the RSP system. If we are unable to gain an RSP quote for your order, because the size of your order is greater than that available from our RSPs for example, we then approach a market maker and deal your order manually. Where appropriate, we obtain multiple price quotes to determine the best price available.
Most UK Equities trades by retail clients are executed electronically via an RSP.
RSP (Retail Service Provider), commonly called Request For Quote, allows access to a three-step execute model. A trader requests a quote for an order; a dealer returns the quote with a 30-second validity period; if the trader accepts the quote within the validity period, the trade executes on a FOK basis (i.e., the full order quantity executes or, in rare circumstances, the execution is rejected).
A Limit Order is an anonymously priced order that is fully displayed when persistent in an order book and may execute at prices equal to or better than its limit price. Limit Orders never have price priority over market orders
Ex: Buy 1,000 Lloyds Bank at 76.50.
A Market Order is non-priced and, therefore, not price forming, but has price priority over all priced orders. Market Orders cannot persist on the order book during continuous trading but will during an auction. Any that remain unexecuted following the completion of the auction is automatically deleted.
Ex: Buy 1,000 Lloyds Bank at market.
A Stop Market Order is a Market Order that remains unelected (not entered into order book) until the stop price is reached. Once elected, it is treated similarly to a regular Market Order.
Ex: Buy 1,000 Lloyds Bank at 80.00 stop.
A Stop Limit Order is a Limit Order that remains unelected (not entered into order book) until the stop price is reached. Once elected, a Stop Limit Order is treated as a regular Limit Order.
Ex: Buy 1,000 Lloyds Bank at 80.00 stop with 80.25 limit.
Margin can be thought of as a good faith deposit required to maintain open positions. This is not a fee or a transaction cost; it is simply a portion of your account equity set aside and allocated as a margin deposit. Margin requirements (per 1k lot) are determined by taking a percentage of the notional trade size plus a small cushion. A cushion is added to help alleviate daily/weekly fluctuations.
Trading on margin can both positively and negatively affect your trading experience as both profits and losses can be dramatically amplified.
If the requested price of a stop or stop entry order is reached at the open of the market on Sunday, the order is filled at the next available price and may experience negative slippage depending on the change in prices from Friday until Sunday.
Phoenix orders are filled the same way. If the requested price is triggered upon the start of trading, the order will be filled at the next available price and may experience positive slippage depending on the change in prices from Friday until Sunday.
There are thousands of instruments over various assets, available in the search window. Equities available from:
Please refer to our base rates below for Equities and Equity Options. There are further discounts available to Premium level clients, contact us at [email protected] to find out more.
US Equities – USD $15.95 up to USD $100,000
UK Equities – GBP £15.95 up to GBP £100,000
European Equities – EUR €40 up to EUR €100,000
Canadian Equities – CAD $19.95 up to $100000
UK Equity Options – £15 per trade plus £1.80per lot
US Equity Options – $15 plus $2 per lot
European Equity Options – €20 per trade plus €2 per lot
For more information, click here.
Research, Charts & News
The Phoenix Platform offers the client access to a superior charting package with a number of different features.
Charts are supplied by TeleTrader. They run off Adobe Flash.
For the comprehensive user guide on the charting package supplied by TeleTrader, click here.
Six different types of research are available within the Phoenix Platform.
For more information on each of these research tools, please refer to our User Guide.
The Phoenix Platform offers the client access to a range of News windows, the ability to input RSS feeds, Twitter feeds as well as YouTube channels etc.
For more information on news tools available, please refer to our User Guide.
The Phoenix platform has an in-built account maintenance portal accessible by click the My Account button on the top right of the platform.
When the user clicks on My Account>History, they will be presented with various options in terms of reporting. There are reports that can be generated for.
Use the drop down boxes to select the time frames required, then hit ‘Generate Statement’ and the platform will generate a .pdf document within the browser that displays all the relevant information.
The second option within My Accounts is Data Feeds.
Within this section the user will be able to change their preferences for data subscriptions, opt for different levels of price feeds which may incur fees etc.
The third option within My Accounts is Payments. From this screen, the user will has access to manage funds within their account, make deposits, request withdrawals etc
Phoenix is currently compatible with the following major web browsers: Microsoft Internet Explorer, Mozilla Firefox, Google Chrome and Apple Safari®. Update your Adobe Flash to the latest version for the best platform performance.
Apple Safari and Mac are trademarks of Apple Inc., registered in the U.S. and other countries.