10 Best Forex Brokers in the Philippines
10 Best Forex Brokers in the Philippines revealed. We have explored and tested several prominent brokers to identify the 10 best.
Top 3 Forex Brokers in the Philippines – Compared
| Broker |  |  |  |
| Regulators | 🇦🇺 ASIC 🇬🇧 FCA 🇨🇾 CySEC 🇧🇸 SCB 🇸🇨 FSA 🇲🇺 FCA | 🇦🇺 ASIC 🇨🇾 CySEC 🇿🇦 FSCA 🇸🇨 FSA | 🇦🇺 ASIC 🇨🇾 CySEC 🇸🇨 FSA |
| Year Established | 2009 | 2005 | 2007 |
| Execution Type(s) | ECN/STP Market Maker | Market Execution | Market Execution |
| Minimum Deposit | 100 USD | 100 AUD | 200 USD |
| Average Trading Cost EUR/USD | Average Spread: 0.1 pips | Average Spread: 0.0 pips | Average Spread: 0.1 pips |
| Commissions | Yes | Yes | Yes |
| Swap Fees | Yes | Yes | Yes |
| Trading Platforms | MetaTrader 4 (MT4) MetaTrader 5 (MT5) TradingView | MetaTrader 4 (MT4) MetaTrader 5 (MT5) cTrader Iress WebTrader | MetaTrader 4 (MT4) MetaTrader 5 (MT5) cTrader |
| Islamic Account | None | Yes | Yes |
| Negative Balance Protection | Yes | Yes | Yes |
| Get Started |  | | |
Here is a Breakdown of Topics covered in this comprehensive guide:
- A Detailed Ranking of the 10 Best Forex Brokers in the Philippines
- Pros and Cons of Forex Trading
- Forex Trading in the Philippines – Quick Overview
and much, MUCH more!
The 10 Leading Forex Brokers in the Philippines: Standout Features.
| 1. | | Trust score of 96 out of 100 Global fintech innovator |  |  |
| 2. |  | Sophisticated charting Real-time pricing | | |
| 3. | | Lowest possible spreads available Low forex CFD fees | | |
| 4. |  | Advanced pending orders Advanced features | | |
| 5. |  | Ultra-fast execution Tight spreads | | |
| 6. |  | Fractional share trading Award winning platforms | | |
| 7. |  | User-friendly platforms Competitive spreads | | |
| 8. |  | High leverage options Robust customer support | | |
| 9. |  | Zero commission Powerful analysis tools | | |
| 10 |  | Advanced FX trading platforms Low spreads. | | |
Now let’s deep dive into each broker that made the list…
10 Best Forex Brokers in the Philippines (2025)
- Eightcap – Top Broker in the Philippines with competitive spreads.
- FP Markets – Tight Spreads and fast execution speed.
- IC Markets – Trustworthy and highly regulated Forex Broker in the Philippines.
- Tickmill – Ultra-fast execution and superior trading conditions.
- HFM – Enhanced MT4 with ultra-fast execution.
- Interactive Brokers – Powerful trading platforms.
- AvaTrade – Competitive spreads and strong regulatory backing.
- Exness – Transparent fees, ultra-tight spreads, and instant withdrawals.
- OANDA – 24/5 client support for Filipino Trades
- IG – Live interaction and round-the-clock support
Top 10 Forex Brokers (Globally)
1. Eightcap
Eightcap is considered one of the Best Forex Brokers in the Philippines because it accepts clients from the Philippines, offering a straightforward account setup with a $100 minimum deposit. While it holds several international regulations, it’s not registered with the Philippine SEC.
| Broker | Eightcap |
| Accepts Traders in the Philippines | Yes |
| Regulation Number in the Philippines | Not registered with the Philippine SEC |
| Local Offices in the Philippines | None |
| Can You Trade with Local Currency (PHP)? | None |
| Is There Local Support in the Philippines? | Yes |
| Filipino-Based Account | Yes |
| Minimum Deposit in PHP | 5,600 PHP |
| Leverage | 500:1 |
| Bonuses | None |
| Fund Withdrawal Fee | None |
| Spreads from | 0.0 pips |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What trading platforms does Eightcap offer?
Eightcap primarily supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both widely popular for their advanced charting, analytical tools, and automated trading capabilities. Additionally, Eightcap seamlessly integrates with TradingView, allowing traders to execute trades directly from its advanced charting platform.
Is Islamic (swap-free) trading available?
Yes, Eightcap offers Islamic (swap-free) accounts to comply with Sharia law. These accounts eliminate overnight swap charges, replacing them with an administrative fee on positions held for more than five days. Availability is typically upon request to customer support.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Multi-regulated Broker | Not Registered in the Philippines |
| Tight Spreads | No Local Currency Support (PHP) |
| Low Minimum Deposit | No Islamic Account Option |
| Multiple Trading Platforms | Limited Bonus/Promotions |
| Fast Execution Speeds | Education and Analysis Tools Are Basic |
Our Insights
Eightcap is a well-regulated, globally recognized broker known for its competitive trading conditions. It offers tight spreads, multiple platforms (MT4, MT5, TradingView), and access to crypto CFDs. It’s particularly appealing to traders seeking ECN-style execution with low costs.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐☆☆ |
2. FP Markets
FP Markets accepts clients from the Philippines, and you can easily set up an account with a minimum deposit of just $100. While they are regulated by several international bodies, do note that FP Markets is not registered with the Philippine SEC.
| Broker | FP Markets |
| Accepts Traders in the Philippines | Yes |
| Regulation Number in the Philippines | Not registered with the Philippine SEC |
| Local Offices in the Philippines | None |
| Can You Trade with Local Currency (PHP)? | Yes |
| Is There Local Support in the Philippines? | Yes |
| Filipino-Based Account | Yes |
| Minimum Deposit in PHP | 5,600 PHP |
| Leverage | 500:1 |
| Bonuses | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | 0.0 pips |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What trading platforms are available?
FP Markets offers a comprehensive suite of trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). They also support cTrader and TradingView, along with their own WebTrader and a dedicated Mobile App, providing flexibility for various trading styles.
What is the minimum deposit?
The minimum deposit at FP Markets for both Standard and Raw accounts is 100 AUD (Australian Dollars), or the equivalent in another currency. This low entry requirement makes it accessible for various traders, from beginners to more experienced individuals.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Strong Regulation | Not Registered with the Philippine SEC |
| Tight Spreads | Limited Local Support |
| Low Minimum Deposit | Third-Party Withdrawal Fees May Apply |
| Advanced Trading Platforms | No Local Offices in the Philippines |
Our Insights
FP Markets is a globally trusted broker offering excellent trading conditions. You’ll find tight spreads, multiple platforms (MT4, MT5, cTrader, TradingView), and access to diverse markets like forex, commodities, shares, and crypto CFDs.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
3. IC Markets
IC Markets accepts Filipino traders, and you can open an account with a minimum deposit of $200. While it’s not regulated by the Philippine SEC, IC Markets is overseen by several international authorities, including ASIC (Australia), CySEC (Cyprus), and FSA (Seychelles).
| Broker | IC Markets |
| Accepts Traders in the Philippines | Yes |
| Regulation Number in the Philippines | Not registered with the Philippine SEC |
| Local Offices in the Philippines | None |
| Can You Trade with Local Currency (PHP)? | Yes |
| Is There Local Support in the Philippines? | Yes |
| Filipino-Based Account | Yes |
| Minimum Deposit in PHP | 11,200 PHP |
| Leverage | 1:500 |
| Bonuses | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | 0.0 pips |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What trading platforms are supported?
IC Markets supports leading trading platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. They also integrate with TradingView for advanced charting and analysis. These platforms offer robust tools for various trading styles, including automated trading and social trading features.
What is the minimum deposit?
The minimum deposit to open an account with IC Markets is USD 200, or the equivalent in another supported currency. This applies to all their main account types, including Standard, Raw Spread, and cTrader Raw Spread accounts.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Tight Spreads | Not Regulated by Philippine SEC |
| Multiple Platforms | Minimum Deposit is Relatively Higher |
| Fast Execution | No Bonuses or Promotions |
| Islamic (Swap-Free) Accounts | Investor Protection Depends on Entity |
Our Insights
IC Markets is a top-tier global broker renowned for low-cost trading, ECN execution, and support for multiple platforms including MT4, MT5, cTrader, and TradingView. It’s ideal for serious traders seeking tight spreads, fast execution, and a professional-grade trading environment.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
4. Tickmill
Tickmill accepts Filipino traders, requiring a $100 minimum deposit to open an account. While it’s not regulated by the Philippine SEC, Tickmill is overseen by well-known international authorities like the FCA (UK), CySEC (Cyprus), and FSA (Seychelles).
| Broker | Tickmill |
| Accepts Traders in the Philippines | Yes |
| Regulation Number in the Philippines | Not registered with the Philippine Securities and Exchange Commission (SEC) |
| Local Offices in the Philippines | None |
| Can You Trade with Local Currency (PHP)? | Yes |
| Is There Local Support in the Philippines? | Yes |
| Filipino-Based Account | Yes |
| Minimum Deposit in PHP | 5,600 PHP |
| Leverage | 1:1000 |
| Bonuses | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | 0.0 pips |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What types of accounts are offered?
Tickmill offers several account types: Classic, with commission-free trading and spreads from 1.6 pips; Raw, featuring raw spreads from 0.0 pips plus a commission; and a VIP account for high-volume traders. All accounts can also be opened as Islamic (swap-free).
Does Tickmill offer tight spreads?
Tickmill offers several account types: Classic, with commission-free trading and spreads from 1.6 pips; Raw, featuring raw spreads from 0.0 pips plus a commission; and a VIP account for high-volume traders. All accounts can also be opened as Islamic (swap-free).
Pros and Cons
| ✓ Pros | ✕ Cons |
| Low Trading Costs | Not Regulated in the Philippines |
| Fast Order Execution | No Copy Trading Platform |
| Regulated by Multiple Authorities | Limited Asset Selection |
| Negative Balance Protection | No Proprietary Trading Platform |
| Leverage up to 1:1000 | Inactivity Fee |
Our Insights
Tickmill is a globally respected broker recognized for its tight spreads, fast execution, and robust regulatory licenses from authorities like the FCA (UK) and CySEC (Cyprus). Filipino traders gain access to global markets with competitive pricing and the reliability of a well-established brand.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐⭐ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐⭐ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
5. HFM
HFM welcomes Filipino traders, offering account openings with a minimum deposit as low as $5. While it’s not regulated by the Philippine SEC, HFM is overseen by several international authorities, including the FCA (UK), CySEC (Cyprus), and FSA (Seychelles).
| Broker | HFM |
| Accepts Traders in the Philippines | Yes |
| Regulation Number in the Philippines | Not registered with the Philippine Securities and Exchange Commission (SEC) |
| Local Offices in the Philippines | None |
| Can You Trade with Local Currency (PHP)? | Yes |
| Is There Local Support in the Philippines? | Yes |
| Filipino-Based Account | Yes |
| Minimum Deposit in PHP | 280 PHP |
| Leverage | 1:2000 |
| Bonuses | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | 0.0 pips |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
Is there swap-free (Islamic) account support?
Yes, HFM provides swap-free (Islamic) accounts for clients who observe Sharia law. These are available across various account types like Premium, Pro, Pro Plus, and Zero accounts, eliminating overnight swap charges on select instruments. Terms and conditions apply.
Does HFM offer negative balance protection?
Yes, HFM offers negative balance protection to all its clients. This policy ensures that even during highly volatile market conditions, your account balance will never go below zero. If a trade results in a negative balance, HFM will automatically reset it to zero.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Low Minimum Deposit | Not Regulated by the Philippine SEC |
| Regulated Globally | Limited Bonus Offers |
| High Leverage | Asset Range |
| Supports MT4 and MT5 | Inactivity Fees |
| Copy Trading Available | Slippage and Execution Risks |
Our Insights
HFM is a trustworthy, beginner-friendly broker for Filipino traders comfortable with an internationally licensed platform. Despite lacking local regulatory presence, its strong reputation, low-cost trading environment, and comprehensive features make it a solid option for forex and CFD trading.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐⭐ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
6. Interactive Brokers
Interactive Brokers (IBKR) is a globally recognized brokerage firm that accepts clients from the Philippines. Filipino investors can open accounts and access global markets through IBKR’s comprehensive trading platforms.
| Broker | Interactive Brokers |
| Accepts Traders in the Philippines | Yes |
| Regulation Number in the Philippines | Not regulated by the Philippine SEC |
| Local Offices in the Philippines | None |
| Can You Trade with Local Currency (PHP)? | Yes |
| Is There Local Support in the Philippines? | Yes |
| Filipino-Based Account | Yes |
| Minimum Deposit in PHP | Variable |
| Leverage | 1:500 |
| Bonuses | None |
| Fund Withdrawal Fee | Yes |
| Spreads from | Variable |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | None |
| Read Review | |
| Open Account | |
Frequently Asked Questions
Can I open an account with Interactive Brokers from the Philippines?
Yes, you can open an account with Interactive Brokers from the Philippines. They accept Filipino clients, allowing access to their comprehensive platforms and global markets. You’ll need to provide identification, address verification, including your tax identification number, as part of the application process.
What trading platforms does IBKR offer?
IBKR offers a robust suite of platforms, including Trader Workstation (TWS) for advanced traders, the user-friendly IBKR Desktop, and mobile apps like IBKR Mobile and IBKR GlobalTrader. They also provide a Client Portal for web-based account management and various APIs for custom solutions.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Global Market Access | Not Regulated in the Philippines |
| Top-Tier Regulation | Complex Interface for Beginners |
| Low Trading Costs | Limited Leverage |
| Professional Platforms | Withdrawal Fees Apply |
| Investor Protection Schemes | No Bonuses or Promotions |
Our Insights
Interactive Brokers (IBKR) is a top-tier global broker recognized for its robust platforms, ultra-low fees, and access to over 150 global markets. For Filipino traders and investors, it offers a powerful gateway to international markets, especially U.S. stocks, ETFs, and forex, though there are some trade-offs to consider.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐⭐ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐☆☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐☆☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐⭐ |
7. AvaTrade
AvaTrade provides a comprehensive trading environment for Filipino traders looking to access global markets. With its robust platforms, diverse instruments, and strong regulatory framework, it’s a solid choice for both new and experienced traders in the Philippines.
| Broker | AvaTrade |
| Accepts Traders in the Philippines | Yes |
| Regulation Number in the Philippines | Not registered with the Philippine Securities and Exchange Commission (SEC) |
| Local Offices in the Philippines | None |
| Can You Trade with Local Currency (PHP)? | None |
| Is There Local Support in the Philippines? | Yes |
| Filipino-Based Account | None |
| Minimum Deposit in PHP | 5,500 PHP |
| Leverage | 1:30 |
| Fund Withdrawal Fee | None |
| Spreads from | 0.9 pips |
| Commissions | None |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
Is AvaTrade legal in the Philippines?
Yes, AvaTrade is accessible to traders in the Philippines. While it’s not regulated by the Philippine SEC, Filipino clients are onboarded through AvaTrade’s British Virgin Islands (BVI) entity, which is regulated by the BVI FSC. AvaTrade also holds licenses from other international authorities.
Does AvaTrade offer customer support in the Philippines?
Yes, AvaTrade offers 24/5 customer support through various channels, including phone, email, and live chat, for its global client base. While there isn’t a dedicated local phone number for the Philippines, traders can access their international support lines and chat services.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Strong Regulation | Not Regulated in the Philippines |
| Low Minimum Deposit | No Local Office in the Philippines |
| Commission-Free Trading | Limited Leverage in Some Regions |
| Diverse Platforms | Inactivity Fee |
| Negative Balance Protection | No ECN Trading |
Our Insights
AvaTrade is a reputable, globally regulated broker that offers a beginner-friendly trading environment with a wide range of platforms, including MT4, MT5, and AvaTradeGO. It provides commission-free trading. For Filipino traders, it’s easily accessible with a low minimum deposit of $100 (around PHP 5,500), strong security features like negative balance protection, and responsive English-speaking support.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐⭐ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
8. Exness
Exness is considered one the the Best Forex Brokers in the Philippines because it accepts Filipino traders, allowing you to open an account with a minimum deposit as low as $10. While it’s not regulated by the Philippine SEC, Exness is overseen by several international authorities, including the FCA (UK), CySEC (Cyprus), and FSA (Seychelles).
| Broker | Exness |
| Accepts Traders in the Philippines | Yes |
| Regulation Number in the Philippines | Not registered with the Philippine Securities and Exchange Commission (SEC) |
| Local Offices in the Philippines | None |
| Can You Trade with Local Currency (PHP)? | Yes |
| Is There Local Support in the Philippines? | Yes |
| Filipino-Based Account | Yes |
| Minimum Deposit in PHP | 550 PHP |
| Leverage | Unlimited |
| Bonuses | None |
| Fund Withdrawal Fee | None |
| Spreads from | 0.2 pips |
| Commissions | None |
| Investor Protection Schemes | None |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What trading platforms are available?
Exness provides platforms including the popular MetaTrader 4 and MetaTrader 5, available for desktop, web, and mobile. They also offer their proprietary Exness Trade app for mobile trading and Exness Terminal for web-based access, ensuring diverse options for traders.
Can beginners use Exness?
Yes, Exness is considered beginner-friendly. They offer a low minimum deposit, a user-friendly proprietary mobile app and web terminal, and provide valuable educational resources through “Exness Insights” to help new traders learn the basics of forex trading.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Low Minimum Deposit | Not Regulated by the Philippines SEC |
| Supports PHP | No Investor Compensation Fund |
| Fast Withdrawals | No Local Office in the Philippines |
| Flexible Account Types | No Bonuses or Promotions |
| Excellent Platform Support | Inactivity Fees |
Our Insights
Exness is a globally recognized broker known for its highly competitive trading conditions, featuring low minimum deposits, fast withdrawals, and a range of beginner-friendly to advanced account types. For Filipino traders, its support for PHP funding, instant transactions, and flexible leverage makes it particularly attractive, especially for those just starting or trading with smaller capital.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐☆☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐⭐ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐⭐ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐☆☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
9. OANDA
OANDA accepts Filipino traders, and you can open an account with no minimum deposit requirement. While it’s not regulated by the Philippine SEC, OANDA is overseen by several international authorities, including the FCA (UK), CySEC (Cyprus), and BVI FSC.
| Broker | OANDA |
| Accepts Traders in the Philippines | Yes |
| Regulation Number in the Philippines | Not registered with the Philippine Securities and Exchange Commission (SEC) |
| Local Offices in the Philippines | None |
| Can You Trade with Local Currency (PHP)? | Yes |
| Is There Local Support in the Philippines? | Yes |
| Filipino-Based Account | Yes |
| Minimum Deposit in PHP | 0 PHP |
| Leverage | 200:1 |
| Fund Withdrawal Fee | None |
| Spreads from | 0.8 pips |
| Commissions | None |
| Investor Protection Schemes | None |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What trading platforms does OANDA offer?
OANDA provides a diverse selection of trading platforms, including their proprietary OANDA Trade web and mobile platforms, the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and seamless integration with TradingView for advanced charting and analysis.
Does OANDA have customer support for Filipinos?
Yes, OANDA provides 24/5 global customer support via live chat, phone, and email. While there isn’t a specific local phone number for the Philippines, Filipino traders can utilize their international contact options for assistance with accounts or trading queries.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Global Regulation | No Islamic (Swap-Free) Accounts |
| No Minimum Deposit | Higher Spreads on Standard Accounts |
| Wide Range of Trading Platforms | Withdrawal Fees for Wire Transfers |
| Negative Balance Protection | Inactivity Fees |
| Responsive Customer Support | Currency Conversion Fees |
Our Insights
OANDA is a reputable, globally regulated broker recognized for its transparent pricing, no minimum deposit requirement, and strong platform options. For Filipino traders who prioritize safety, regulatory oversight, and access to robust trading tools, it stands as a solid choice.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐☆☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐☆☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
10. IG
Founded in 1974, IG is the world’s largest CFD provider by revenue and a FTSE 250-listed company with a strong, long-standing track record. IG accepts Filipino clients who trade under its international regulatory entities, as it does not hold a local Philippine SEC license.
| Broker | IG |
| Accepts Traders in the Philippines | Yes |
| Regulation Number in the Philippines | Not regulated by Philippine SEC |
| Local Offices in the Philippines | None |
| Can You Trade with Local Currency (PHP)? | Yes |
| Is There Local Support in the Philippines? | Yes |
| Filipino-Based Account | Yes |
| Minimum Deposit in PHP | 0 PHP |
| Leverage | 30:1 |
| Bonuses | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | 0.6 pips |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
Is IG available in the Philippines?
Yes, IG is available in the Philippines. Filipino traders can open accounts with IG, which operates under its international regulatory entities. While not locally regulated by the Philippine SEC, IG is a highly reputable global broker with strong international oversight.
What trading platforms does IG offer?
IG offers a diverse range of trading platforms, including their award-winning proprietary web and mobile platforms, the popular MetaTrader 4 (MT4), the advanced charting package ProRealTime, and their L2 Dealer platform for direct market access. They also integrate with TradingView.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Highly Regulated & Trusted Broker | Not Regulated in the Philippines |
| No Minimum Deposit | Limited Local Support |
| Advanced Trading Platforms | No Copy Trading Platform |
| Free Demo Account | Share CFD Commissions Can Be High |
| Islamic Account Available | Bonuses Are Limited |
Our Insights
While it doesn’t hold a local Philippine SEC license, IG is a highly reputable global broker with a long-standing track record and strong international oversight, making it a reliable choice for accessing global markets.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐⭐ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐⭐ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐⭐ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐⭐ |
Forex Trading in the Philippines – Quick Overview
Forex trading is gaining traction in the Philippines, particularly among tech-savvy millennials and young professionals looking for alternative income. While the Securities and Exchange Commission (SEC) doesn’t currently regulate online forex trading platforms, Filipinos can legally trade with internationally regulated brokers.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Accessible to Beginners | Not Regulated Locally by SEC |
| 24/5 Market | Currency Conversion Fees |
| High Leverage Options | High Risk of Loss |
| Free Demo Accounts | No Investor Protection Schemes |
| Diverse Broker Choices | Scams and Fraud Risks |
In Conclusion
Forex trading isn’t a “get-rich-quick” scheme; it’s a legitimate, skill-based opportunity. Filipino traders should approach it with a focus on education, discipline, and proper risk management. It’s wise to start small, utilize demo accounts, and always avoid any promises of guaranteed returns.
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Faq
The forex market itself is not a scam; it’s a legitimate global market for currency exchange. However, like any financial market, it’s unfortunately targeted by scammers who promise unrealistic returns or operate unregulated schemes. To trade safely, always choose a well-regulated broker.
No, forex trading is not the same as investing in stocks. Forex involves speculating on currency exchange rates, typically short-term, with high leverage and 24/5 market hours. Stock investing means buying company shares, often for long-term growth.
Forex trading can be a way to earn income, but it’s highly speculative and comes with significant risks. While some traders achieve substantial profits, many lose money, especially beginners. Success requires extensive knowledge, discipline, strong risk management, and often a considerable amount of capital.
Yes, almost all reputable forex brokers offer free demo accounts. These allow you to practice trading with virtual funds in a simulated real-time market environment, without risking your own money. They’re excellent for beginners to learn and for experienced traders to test new strategies.
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