Find the Best Forex Broker in Philippines (Regulated & Safe)

In this article, we share the list of the best forex brokers that accept traders from the Philippines.

Our team of experts has tested and reviewed all of these companies with real money.

Top 5 Brokers for Forex Trading in the Philippines:

  1. EXNESS – Overall Winner of 2024
  2. Octa – Excellent Forex Trading Platforms for Beginners
  3. Pepperstone – ECN/STP Broker with Low Fees
  4. XM – Best High Leverage MT4 / MT5, $50 No Deposit Bonus
  5. XTB  – Great Forex App for iOS/Android

Philippines flag

Forex Broker More InfoBenefits PlatformsReview

  • Forex Spread from 0,0 Pip
  • No Dealing Desk Broker (ECN/STP)
  • Deposit Minimum $1
  • 60 Currency pairs
  • Super fast trade execution
  • SWAP Free Islamic Accounts
  • High Leverage possible
  • VPS Server
  • Fully Safe and Regulated
  • English support 24 x 5
  • Fast Withdrawals
MT4, MT5
cTrader
TradingView
Review

  • $50 No Deposit Bonus
  • Max Leverage: 1000:1
  • 56 Currency pairs
  • Fast trade execution
  • Deposit Min: $5
  • FX Spread from 0,1 Pips
  • SWAP Free Islamic
  • Good for beginners
  • High quality online education
  • English support
  • Regulated CySEC/ASIC/IFSC
  • Fast Withdrawals
MT4 / MT5
XM Webtrader
XM Mobile Apps
Review

  • 50% Welcome Bonus
  • Min. Deposit $25
  • Forex spreads from 0.7 Pips
  • CopyTrading
  • Negative balance protection
  • Easy and fast deposits/withdrawals
  • Regulated in SVG and Cyprus
MT4, MT5

Review

  • 56+ Currency pairs
  • SWAP Free Islamic
  • CFDs on Shares, Indices, Crypto
  • Good for beginners
  • Online trading webinars
  • Deposit Min: $10
  • Max Leverage: 400:1
xStation XTB review

  • Deposit min: $100
  • Leverage: 400:1
  • Typical EURUSD spread: 0,9 Pips
  • Regulated in EU, UK, Japan, Australia, S.Africa
  • CFDs on pairs, stocks, crypto, indices
  • Social Trading
  • FX Options
  • Automated Trading Tools
MT4, MT5
AvaGO
Ava Options
AvaSocial
iOS/Android App
Review

  • Deposit min: $50
  • Max Leverage 2000:1
  • Swap FREE Islamic
  • 48 currency pairs
  • Expert Advisor/Forex Robot
  • Spread: from 0 Pips
  • Bonuses up to 100%
MT4, MT5
HFM Mobile Apps
Review

  • $10 Sign Up Bonus
  • Trustworthy Regulated Broker
  • Min. First Deposit $10
  • Trade with Microlots
  • Forex spreads from 0.3 Pips
  • Easy & Fast Deposits
  • Social Trading
MT4, MT5
Exness App,
Webtrader
Review

Exness

 

Exness is one of the most reputable fx brokers in the world trusted by thousands of satisfied traders.

Pros
  • Very Low Forex Spreads from 0.3 Pips
  • Very fast account opening
  • Swap free islamic forex accounts
  • 70+ forex pairs
  • Cutting Edge Trading Platforms: MT4, MT5
  • Proprietary Exness Webterminal + Mobile Apps
  • CFDs Shares, Crypto,Commodities, Indices
  • English customer support
  • Very fast trade execution 30 miliseconds
  • Min deposit from $10
  • Large range of deposit methods
Cons
  • No CFDs on stocks
  • No proprietary webtrader platform yet

Visit Exness.com


Expert Tips for Choosing the Best Forex Trading Platform

 

Fees & Commissions

Watch out for trading fees as they are pretty important. Avoid those who charge inactivity fees and compare the spread with competition if you are in doubt.

It is advised to check & compare the following trading fees:

  • Commision per standard lot (usually charged on ECN accounts)
  • Spread for your chosen currency pair
  • Swap overnight fees
  • Currency conversion fees that you can find on the broker’s website.

Demo Account

Experts recommend to try a demo platform before depositing funds with a forex broker. This is because a demo platform allows you to test the waters and get a feel for the broker’s platform and tools without risking any real money.

Broker Trustworthiness

It’s always a good idea to check user reviews when you’re just starting with forex trading. This is because user reviews can give you a good idea of what to expect from a broker, including their level of customer service, the reliability of their platform, and how well they handle traders’ accounts. By reading these reviews, you can get a better understanding of the broker’s strengths and weaknesses and make an informed decision about whether or not they’re the right fit for you. So, always make sure to check out user reviews before signing up with a broker – it could save you a lot of headaches down the line!


FAQs (Frequently Asked Questions)

Q: Is Forex Trading Legal in the Philippines?

Yes forex trading in Philippines is legal as long as you choose a regulated forex broker.

Q: Which forex broker is the best for beginners ?

If you are a newbie in forex trading, then you should definitely choose a broker which meets certain requirements:

  • Exness  is a recommended forex broker for beginners. It is beginner friendly broker and easy to use online forex trading platform with minimum deposit $1. You can trade anything from Forex, CFD on Stocks, CFD Cryptocurrencies.
  • XM Group  is one of the best MT4/MT5 forex brokers Philippines. Low minimum deposit $5 and max leverage up to 1:1000 together with an excellent customer support quality are the main reasons why many beginners start their trading career with XM.

Q: What broker has the Best Forex Trading App ?

XTB has got the best forex trading app in the Philippines. The forex trading app provided by XTB broker is called xStation and works smooth on both iOS and Android operating systems. It is beginner friendly and pretty fast based on our test.

Q: Do popular world brokers work in the Philippines?

Yes majority of the most trusted international forex brokers work with the Philippines residents and will gladly open a live forex account for them.

Philippines traders are free to open forex trading account with any world broker.

Local traders decide to open forex accounts because in fact with solid and regulated international forex brokers they can get the best trading conditions  such as ultra low forex fees, can choose from various forex accounts , islamic account, almost instant order execution etc.

Q: What is the regulation of forex market in Philippines?

The major forex market regulator agency in Philippines is the government owned BSP Banco Sentral ng Pilipinas in english Central bank of Philippines through SEC Securities Exchange Commision of Philippines. All Philippines forex brokers must abide by the regulations.

SEC also issues the license to financial companies operating locally across the Philippines territory.

Securities and exchange commission Philippines
Image source: sec.gov.ph

 

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