In below table you find the comparison of the best forex brokers for Philippines residents.
|Broker's Name||User's Score||Minimum deposit||Trading Platform||Max. Leverage||Our Review|
|1:400||Review of eToro|
|$50||MetaTrader 4||1:1000||Review of HotForex|
|1:888||Review of XM broker|
|4.||$10||WebTrader/iOS/Android||1:1000||Review of IQ OPTION|
|5.||$100||MetaTrader 4||1:300||Review of Markets.com|
|7.||$100||MetaTrader 4||1:400||Review of AvaTrade|
|9.||$300||MetaTrader 4||1:1000||Review of Instaforex|
|0 / 10|
- Copy Trades of Other Profitable Traders!
- Thousands of guru traders you can copy
- Very popular forex company in Philippines
- Multi Awarded Trading Platform
- Forex + Cryptocurrencies + Real Stocks
- Local language customer support
- Competitive Spreads
- Very fast trade execution
- Minimum deposit of just $200
- 47+ global currency pairs available
- VIP Account for large deposits
- Max. Leverage up to 400: 1
- Read here how we tested eToro
Which forex trading company is this year the most popular by Filipino traders ?
According to my private statistics from what I have seen on international fx forums, Filipino traders prefer strong international brands with regulation, they trade mostly with Metatrader 4 and trade mostly currency pairs that include USD and/or JPY. Out of all brands seen in above table on this page, eToro seems to the most preffered for a good reason.
Which forex broker is the best fit for you?
This is really a tricky question. It depends on many factors.
If you are a newbie in forex trading business, then you should definitely choose a broker which meets certain requirements:
- a company which has good reputation among fx traders
- offers you top trading tools like Metatrader 4/5, Apps for Android/iPhone
- beginner friendly and easy to understad trading platform
- doesn’t require a big minimum deposit
- charges low fees (low spread/low commisions)
However with hundreds of brokers on the market, it is not easy to figure out which company is serious to deal with! We want to help you to start with forex trading and become profitable very quickly, we prepared and regularly update the above table with comparison of best forex companies!
Who regulates forex brokers in Philippines?
The main regulatory body in the country is Securities and Exchange Commision of Philippines which overlooks the local financial market and its main role is to protect investors from fraud. If you feel you face any issue with a brokerage, you can submit a complaint through their website www.sec.gov.ph.
There are some local fx brokerages who are listed by Sec.gov.ph but according to our knowledge of local market, vast majority of Filipinos trade currencies through some of the worlds best fx companies who are residing abroad and regulated by worlds’ top reputable regulatory bodies like FCA in the United Kingdom or CySEC in Cyprus.
Is forex trading legal in Philippines?
Yes it is legal as long as you choose a regulated forex trading company. As the economy of Philippines continues to grow, there are more and more locals open forex accounts with foreign forex companies who offer them the best trading services.
Do you want to open a forex trading account in Philippines and you are still unsure?
Are you uncertain about some companies? Feel free to ask below in comments! Our staff is monitoring this forum and replying to all questions usually within 48 hours.