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6 Best Forex Brokers in Philippines

Last Update: June 26th, 2024

Best Forex Brokers in Philippines

 

6 Best Forex Brokers in Philippines revealed. We have explored and tested several prominent brokers to identify the 6 best.

In this in-depth guide you’ll learn:

  • What is a Forex broker in Philippines?
  • Who the 6 Best  Forex brokers are in the Philippines?
  • Pros and cons of each Forex broker on our list in the Philippines.
  • Popular FAQs about the 6  Best Forex brokers in  the Philippines.

 

And lots more…

So, if you’re ready to go “all in” with 6 best Forex brokers in Philippines

Let’s dive right in…

🏆 10 Best Forex Brokers

BrokerReviewRegulatorsMin DepositWebsite
🥇Read ReviewASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSAUSD 100Visit Broker
🥈Read ReviewFSCA, IFSC, ASIC, CySEC, DFSA, FCAUSD 5Visit Broker
🥉Read ReviewFCA, FSCA, FSC, CMAUSD 10Visit Broker
4Read ReviewASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBUSD 200Visit Broker
5Read ReviewFCA, CySEC, FSCA, SCBUSD 100Visit Broker
6Read ReviewCySEC, MISA, FSCAUSD 25Visit Broker
7Read ReviewCySEC, FCA, FSA, FSCA, Labuan FSAUSD 100Visit Broker
8Read ReviewCBCS, CySEC, FCA, FSA, FSC, FSCA, CMAUSD 10Visit Broker
9Read ReviewASIC, CySEC, FSCA, CMAUSD 100Visit Broker
10Read ReviewIFSC, FSCA, ASIC, CySECUSD 1Visit Broker

6 Best Forex Brokers in Philippines (2024*)

  1. ☑️ XM – Award-Winning ASIC Regulated Forex Broker
  2. ☑️ FP MarketsLow-cost trading experience
  3. ☑️ IC Markets –Best Mobile Trading Experience
  4. ☑️ Tickmill – Best MT4 Trading Tools
  5. ☑️ HFMBest ASIC-Regulated Forex Broker
  6. ☑️ Interactive Brokers Best Broker for Beginners

 

What is a Forex broker in the Philippines?

Forex brokers in the Philippines provide a range of services, including access to global currency markets.

Their trading platforms have advanced charting tools and educational resources on Forex trading.

Customer support in local languages and secure fund management options are available.

They facilitate trading in various currency pairs, enabling traders to pursue investment opportunities with ease.

 

6 Best Forex Brokers in Philippines

XM

Overview

XM offers comprehensive trading features suitable for traders in the Philippines. With access to a wide range of currency pairs, including major, minor, and exotic pairs, Filipino traders can diversify their portfolios effectively.

Their intuitive trading platforms, such as MetaTrader 4 and MetaTrader 5, equipped with advanced charting tools and technical indicators, enable precise market analysis and execution of trades.

XM provides educational resources tailored to traders of all skill levels, including webinars, tutorials, and market analysis, empowering Filipino traders to enhance their trading knowledge and strategies.

XM

Additionally, localized customer support in the Filipino language ensures prompt assistance and guidance.

As a top broker they offer flexible account types and competitive spreads, accommodating both novice and experienced traders. With secure fund management options and adherence to regulatory standards, Filipino traders can trust XM for a reliable and transparent trading experience.

Overall, XM’s trading features cater to the diverse needs of traders in the Philippines, fostering a conducive environment for success in the Forex market.

 

Unique Features

Feature Information
🏛️ RegulationFSCA, IFSC, ASIC, CySEC, DFSA
📲 Social Media PlatformsLinkedIn
Twitter
Facebook
YouTube
Instagram
💻 Trading AccountsMicro Account, Standard Account, XM Ultra-Low Account, Shares Account
📊 Trading PlatformsMetaTrader 4, MetaTrader 5, XM Mobile App
💰 Minimum Deposit$5
📉 Trading AssetsForex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Shares,
PHP Based Account?❌ No
💲 PHP Deposits Allowed?❌ No
➕ Bonuses for traders?✔️ Yes
📈 Minimum spreadFrom 0.0 pips
💻 Demo Account✔️ Yes
☪️ Islamic Account✔️ Yes
👉 Open Account👉 Open Account

 

Pros and Cons

✔️ Pros❌ Cons
XM provides both MetaTrader 4 and MetaTrader 5, which are known for their cutting-edge technology and user-friendly interfacesThe forex fees are average compared to other brokers, which may be a disadvantage for forex traders
XM offers trading in over 1,000 financial instruments across many asset classesXM's product portfolio is less competitive than other major brokers
XM employs variable spreads to provide traders with tighter and more accurate quotesXM charges an inactivity fee
XM offers 24/7 customer care in 30 languages, allowing for secure connection with a dedicated teamXM services are unavailable in Iran, Somalia, Afghanistan, North Korea, Canada, and the United States
XM provides a few account types, including Ultra-Low, Micro, Standard, and Zero accounts, to fulfill the needs of different tradersFCA regulations prevent UK clients from trading cryptocurrency CFDs
XM provides instant deposit and withdrawal options, including bank transfers, credit cards, and e-payments like Skrill and Neteller, with no feesXM's maximum leverage varies per client jurisdiction, potentially limiting trading methods for certain traders

 

Trust Score

XM has a high trust score of 90%Top of Form

 

FP Markets

Overview

FP Markets offers robust trading features tailored to traders in the Philippines, catering to both novice and experienced investors.

With access to a wide range of financial instruments, including Forex, indices, commodities, and cryptocurrencies, Filipino traders can diversify their portfolios effectively.

FP Markets’ advanced trading platforms, such as MetaTrader 4 and MetaTrader 5, provide comprehensive charting tools, technical indicators, and customizable trading strategies, facilitating precise market analysis and execution of trades.

FP Markets

They offer competitive spreads, low latency execution, and flexible leverage options, enabling Filipino traders to optimize their trading strategies according to their risk appetite and preferences.

Additionally, FP Markets provides educational resources, market analysis, and expert insights, empowering Filipino traders to make informed trading decisions.

With secure fund management options and adherence to regulatory standards, FP Markets ensures a reliable and transparent trading environment for traders in the Philippines, fostering long-term success in the financial markets.

 

Unique Features

Feature Information
🏛️ RegulationASIC, CySEC, FSCA, FCA and FSA
📲 Social Media PlatformsLinkedIn
Facebook
Twitter
You Tube
💻 Trading AccountsMT4/5 Standard Account, an MT4/5 Raw Account, an MT4/5 Islamic Standard Account, and an MT 4/5 Islamic Raw Account
📊 Trading PlatformsMetaTrader 4
MetaTrader 5
cTrader
IRESS
FP Markets App
💰 Minimum DepositAU$100
📉 Trading AssetsForex Shares
Indices
Commodities
Cryptocurrencies
Bonds
ETFs
PHP-based Account?❌ No
PHP Deposits Allowed?✔️ Yes
➕ Bonuses for traders? ❌ No
📈 Minimum spreadFrom 0.0 pips
💻 Demo Account✔️ Yes
☪️ Islamic Account✔️ Yes
👉 Open Accoun👉 Open Account

 

Pros and Cons

✔️ Pros❌ Cons
Traders benefit from FP Markets' superior software infrastructure.Due to FP Markets' worldwide focus, not all local payment solutions may receive the same level of priority.
Investors receive comprehensive customer support from a team of dedicated and experienced workers.FP Markets offers a wide range of products, although certain traders may prefer regional or specialist markets.
Several international agencies regulate FP markets, including the FSCA, CySEC, ASIC, FSA, and FSC.FP Markets calculates withdrawal costs for various payment modes.
FP Markets offers traders a comprehensive library of instructional tools focused at improving their trading skills.
To satisfy its customers' different demands and trading preferences, FP Markets offers a variety of account types.
cTrader, MetaTrader, IRESS, and MetaTrader 5 are trading platforms that include extensive charting and analytical functions.
Trading strategies can be adjusted to a diverse range of asset classes thanks to FP Markets' large international market network.
FP Markets provides competitive spreads and has cheap commissions.

 

Trust Score

FP Markets has a high trust score of 87%.

 

IC Markets

Overview

IC Markets stands as a renowned Forex broker offering an array of features tailored to traders in the Philippines.

Traders benefit from access to various financial instruments such as Forex, indices, commodities, cryptocurrencies, and CFDs.

IC Markets provides versatile trading platforms including MetaTrader 4, MetaTrader 5, and cTrader, each equipped with advanced charting tools, technical indicators, and customizable trading strategies, facilitating precise market analysis and seamless trade execution.

IC Markets

IC Markets offers competitive spreads, low latency execution, and flexible leverage options, enabling traders to optimize their strategies based on their risk tolerance and objectives.

Educational resources, market analysis, and expert insights empower Filipino traders with knowledge essential for informed decision-making. Robust security measures and regulatory compliance ensure a safe and transparent trading environment.

With its comprehensive features and commitment to trader success, IC Markets remains a preferred choice for traders in the Philippines seeking reliability and efficiency in their trading endeavors.

 

Unique Features

🔎 Feature👁️‍🗨️ Information
🏛️ RegulationASIC, CySEC, FSA, SCB
📲 Social Media PlatformsLinkedIn
Facebook
Twitter
You Tube
🛍️ Retail Investor Accounts3
🗄️ PAMM Accounts✔️ Yes
🏦 Liquidity Providers25
🧑‍🤝‍🧑 Affiliate Program✔️ Yes
🧑‍⚖️ Order ExecutionMarket
➡️ OCO Orders❌No
🖱️ One-Click Trading✔️ Yes
✏️ Scalping✔️ Yes
📌 Hedging✔️ Yes
🤓 Expert advisors✔️ Yes
🗞️ News Trading✔️ Yes
📊 Trading Api✔️ Yes
📈 Starting spreadFrom 0.0 pips
💵 Minimum Commission per TradeFrom $3 to $3.5
💻 Trading AccountscTrader Account, Raw Spread Account, Standard Account.
📊 Trading PlatformsMetaTrader 4
MetaTrader 5
cTrader
IC Social
Signal Start
Zulu Trade
💰 Minimum DepositHKD1,564.52 in $200
📉 Trading AssetsForex
Indices
Stocks
Commodities
Cryptocurrencies
Bonds
Futures
Bonuses for traders?❌No
📈 Minimum spreadFrom 0.0 pips
💻 Demo Account✔️ Yes
☪️ Islamic Account✔️ Yes
👉 Open Account👉 Open Account

 

Pros and Cons

✔️ Pros❌ Cons
IC Markets offers social trading systems such as IC Social and ZuluTrade, which provide collaborative trading experiences.The $200 minimum deposit is significantly greater than those of other brokers.
Traders benefit from a secure trading environment provided by IC Markets' comprehensive regulatory structure, which is regulated by organisations such as ASIC and Cyprus Securities and Exchange Commission.Beginner traders could find the trading environment too difficult.
IC Markets caters to a variety of demands, including Islamic accounts for traders who follow swap-free criteria based on religious views.
Traders can multiply their holdings and increase possible gains by using leverage options of up to 1:1000.
IC Markets offers transparent trading conditions and pricing structures, which fosters confidence and transparency among traders.
IC Markets maintains competitive pricing by leveraging partnerships with different liquidity providers, making trading more affordable.
IC Markets protects traders against negative balances during market downturns, providing confidence and risk minimization.
The consistent server uptime ensures continuous access to markets, assisting traders who require persistent communication.
With a no-dealing-desk (NDD) policy, IC Markets removes conflicts of interest, putting traders' interests first and creating a fair trading environment.

 

Trust Score

IC Markets has a high trust score of 87%.

 

Tickmill

Overview

Tickmill is a Forex broker that offers straightforward trading services to traders in the Philippines. It provides access to various financial markets like Forex, commodities, and indices. Their platforms, like MetaTrader 4 and MetaTrader 5, are easy to use and come with tools for analysing the market and executing trades.

Tickmill Phillipenes

Tickmill gives Filipino traders competitive spreads, fast execution, and options for leverage, allowing them to manage their risks effectively. They offer educational materials and market analysis in Filipino language, helping traders make informed decisions.

With a focus on security and transparency, Tickmill ensures a reliable trading environment for Filipino traders. They aim to support traders in achieving success in the Forex market by providing user-friendly platforms, valuable resources, and competitive trading conditions.

 

Unique Features

🔎 Feature👁️‍🗨️ Information
🏛️ RegulationSeychelles FSA, FCA, CySEC, Labuan FSA, FSCA
📈Starting spreadFrom 0.0 pips
📈 Minimum Trade Size0.01 lots
➕📊 Maximum Trade Size100 lots
📉 Maximum Leverage1:1000
🏪 Customer Service Hours24/5
🎓 Education for beginnersYes
📊 Trading PlatformsMetaTrader 4 and MetaTrader 5
💰 PHP Deposits Allowed?❌No
📁PHP-based Account?❌No
➕Bonuses for traders?✔️ Yes
📈 Minimum spreadFrom 0.0 pips
💻 Demo Account$1 per side, per standard lot traded
☪️ Islamic Account✔️ Yes
👉 Open Account👉 Open Account

 

Pros and Cons

✅Pros❌Cons
Tickmill's reputation for having industry-leading narrow margins enables investments at a low cost, which benefits investors.In comparison to its competitors, Tickmill may provide fewer training tools, potentially slowing the learning curve for new traders.
Tickmill's incredibly fast execution speeds assure timely order processing, reducing slippage incidents.In some areas, access to Tickmill's services may be difficult, limiting the reach of potential traders.
Tickmill broadens trading horizons by providing access to a wide range of non-forex financial assets such as bonds, indices, and commodities, thereby encouraging portfolio diversification.Those interested in social or copy trading may find that Tickmill's platform lacks certain features.
Tickmill maintains openness and develops trader confidence by providing transparent pricing structures with no hidden charges.Language support beyond English may be limited, providing challenges for traders seeking assistance.
Tickmill enhances the trading experience for its clients by leveraging cutting-edge infrastructure and trading technologies, demonstrating its dedication to innovation and client pleasure.While Tickmill provides basic research tools, its access to advanced resources may be constrained, limiting traders' capacity to undertake detailed studies.

 

Trust Score

Tickmill has a trust score of 82%

 

HFM

Overview

HFM is a popular Forex broker offering simple and accessible trading services to traders in the Philippines.

What sets HFM apart are its competitive trading conditions, including tight spreads, fast execution, and flexible leverage options.

Traders can access a wide range of financial instruments, including Forex, stocks, commodities, and indices, providing ample opportunities for diversification.

HFM Review

HFM also offers user-friendly trading platforms like MetaTrader 4 and MetaTrader 5, equipped with advanced charting tools and technical indicators for market analysis.

Additionally, HFM provides educational resources and market analysis tailored to Filipino traders, helping them make informed trading decisions.

With a focus on customer satisfaction and transparency, HFM aims to provide a reliable and rewarding trading experience for traders in the Philippines.

 

Unique Features

🔎Featureℹ️ Information
🏛️ RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
⚖️SEC regulation?❌No
💻 API AccessAbility to connect with HFM platform for algorithmic trading.
✍️ Strategy developmentVisual or code-based interface to build automated strategies.
📝 Testing and optimizationOption to test strategies on historical data.
📃 Paper TradingSimulated trading environment to test strategies without risk.
🗄️ Managed AccountsHFM manages your account using their own algorithms (discretionary or systematic).
📲 Social Media PlatformsFacebook
Twitter
Telegram
Instagram
YouTube
LinkedIn
💻 Trading AccountsMicro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account
📊 Trading PlatformsMetaTrader 4 and MetaTrader 5
Minimum Deposit in PHPNo minimum deposit requirement
📉 Trading AssetsForex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs
💲 PHP-based Account?❌No
💲 PHP Deposits Allowed?❌No
➕ Bonuses for traders?❌No
📈 Minimum spreadFrom 0.0 pips
💻 Demo Account✔️ Yes
☪️ Islamic Account✔️ Yes (Dubai customers only)
👉 Open Account👉 Open Account

 

Pros and Cons

✔️ Pros❌ Cons
A diverse range of account types cater to different tradersThere is limited German-language help for local traders
Attractive bonus and promotion offerHFM may provide less promotional offers and bonuses than some other brokers, which could be a disadvantage for traders looking for extra incentives.
A diverse assortment of trading instrumentsThe withdrawal process might be enhanced for efficiency
Provides both MetaTrader 4 and MetaTrader 5 platformsSpreads on certain accounts may not be as competitive
Multiple governments regulate the trading environment, assuring its securityThe bonus system can be complicated and may not comply with local regulatory requirements
HFM provides a number of trading platforms, including MetaTrader 4 and MetaTrader 5, to accommodate diverse trading preferences and methods.HFM may provide less research tools and resources than other brokers, reducing traders' ability to do in-depth market study.
HFM offers attractive spreads across a variety of asset classes, increasing trading efficiency and potentially lowering trading expenses.Some traders may encounter delays or difficulties in contacting customer service, particularly during heavy trading hours.
HFM provides a wide variety of assets, including forex, indices, commodities, and cryptocurrencies, allowing traders to simply diversify their portfolios.HFM may levy withdrawal fees for specific withdrawal methods, raising the overall cost of trading for traders.
HFM is regulated by several respectable bodies, including the FCA and CySEC, which ensures a safe and secure trading environment for traders.Some traders may struggle to understand HFM's fee structure, given the various types of accounts and services available.

 

Trust Score

HFM has a trust score of 85%

 

Interactive Brokers

Overview

Interactive Brokers is a leading online brokerage firm that offers straightforward trading services to traders in the Philippines.

With Interactive Brokers, Filipino traders can access a wide range of financial instruments, including stocks, options, futures, currencies, and bonds, allowing for diverse investment opportunities. The platform provides advanced trading tools and analytics to help traders make informed decisions.

Interactive Brokers

Interactive Brokers also offers competitive pricing with low commissions and margin rates, making it cost-effective for traders of all levels.

Additionally, Interactive Brokers provides educational resources and research tools to support traders in their trading journey.

With a focus on reliability, security, and transparency, Interactive Brokers aims to empower Filipino traders with the tools and resources they need to succeed in the financial markets.

 

Unique Features

🔎 Featureℹ️ Information
🏛️ RegulationSEC, CFTC, FCA
⚖️SEC regulation?❌ No
📲 Social Media PlatformsLinkedIn
Twitter
Facebook
YouTube
💻 Demo AccountYes
🖥️Non-expiring DemoNo
📱 Demo Duration45 days
🛍️ Retail Investor Accounts2
⬆️ Starting spread on NASDAQVariable
📉 Maximum Leverage on NASDAQ1:20
🏴󠁶󠁮󠀴󠀱󠁿 NASDAQ Long (Buy) Swap-2.0%
📊 NASDAQ Short (Sell) Swap1.5%
💻 Trading PlatformsIBKR Lite, IBKR Pro
💻 Trading AccountsIndividual, Joint, Trust, IRA, Non-Professional Advisor, Family Office, Advisor, Advisor Client (including Non-Professional Advisor and Family Office), Broker Client, EmployeeTrack.
📊 Trading Platforms IBKR Trader WorkStation
IBKR Desktop
IBKR Mobile
IBKR GlobalTrader
IBKR Client Portal
IBKR APIs
IBKR Impact
💰 Minimum Deposit in PHPNo specific minimum deposit required.
📉 Trading AssetsGlobal Stocks, options, futures, currencies, cryptocurrencies
💲 PHP-based Account?❌ No
💲 PHP Deposits Allowed?❌ No
➕ Bonuses for traders?✔️Yes (except for US traders, as per US regulation)
📈 Minimum spreadFrom 0.0 pips
☪️ Islamic Account❌ No
👉 Open Account👉 Open Account

 

Pros and Cons

✅ Pros❌ Cons
Extensive range of financial instruments including stocks, options, futures, Forex, bonds, and more.Complex fee structure that may be confusing for some traders.
Direct market access (DMA) providing transparent and efficient trading execution.Higher minimum deposit requirements compared to some other brokers.
Competitive pricing with low commissions and margin rates.Steeper learning curve for beginners due to the advanced trading tools and features.
Powerful trading platforms such as Trader Workstation (TWS) and IBKR Mobile, offering advanced tools and analytics.Limited customer support options, primarily through email and chat.
Global presence with access to over 135 markets in 33 countries.Inactivity fees on dormant accounts.

 

Trust Score

Interactive Brokers has a trust score of 95%.

Forex Brokers in Phillipenes

Conclusion

Overall, trading successfully with the best Forex brokers in the Philippines requires careful consideration of various factors such as regulatory compliance, trading features, competitive pricing, and customer support.

 

FAQs

Do I need a lot of money to start Forex trading in the Philippines?

 

No, you can start Forex trading in the Philippines with a relatively small amount of capital. Many brokers offer accounts with low minimum deposit requirements, allowing traders to start with as little as $100 or even less.

 

How can I stay informed about Forex market news and analysis?

 

Stay informed by following reputable financial news sources, subscribing to Forex market analysis websites, utilizing economic calendars, and staying connected with your broker’s research and analysis materials.

 

How can I choose the best Forex broker in the Philippines?

 

Consider factors such as regulatory compliance, trading platforms, available financial instruments, spreads, commissions, customer support, and educational resources when selecting a Forex broker in the Philippines.

 

Is Forex trading in the Philippines taxable?

 

Yes, Forex trading profits are subject to taxation in the Philippines. Traders are required to declare their Forex trading income and pay taxes accordingly.

 

What are the best times to trade Forex in the Philippines?

 

The best times to trade Forex in the Philippines are during overlapping trading sessions when multiple major financial centers are open. A few examples: The London-New York overlap or the Tokyo-London overlap.

 

A Reliable Forex broker review of Exness will ensure safe trading. You can be up to date if you link to our Twitter account.

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