This is a very similar palm to Archontophoenix alexandrae in both appearance and size. But it is more cold-tolerant. These palms can be grown in full sun (if kept well watered), or in the shade.
They do like more water than most palms, with some even thriving in poorly drained areas. In their native habitat, they can often be seen growing next to and even in creek beds. It makes a good house- or conservatory plant if the light is good. This palm's natural habitat is the rainforest of Australia.
This is an excellent indoor plant if kept in a sunny place!