Forex Brokers in Philippines

Forex trading in the Philippines is growing in popularity on a yearly basis. Here’s our list of the best forex broker Philippines for 2023. The criteria set looks at whether the forex brokers meet the FCA regulation and whether they offer clients favorable trading conditions.

Trading forex (currencies) in the Philippines is popular among residents. While recommended, forex brokers are not required to become authorised by the Securities and Exchange Commission (SEC) to accept residents of the Philippines as customers. 

Compare Forex Brokers
BrokerMin DepositPlatformsPaymentsLeverageRegulation
eToro1http://partners.etoro.com/A11108_TClick.aspx2002-https://www.forexexplore.com/forex-brokers/etoro-revieweToro PlatformnoyesCredit Cards, Debit Cards, Paypal, Neteller, Skrill, Webmoney, Wire Transfer1:30; 1:1 for Crypto CurrenciesEnglish, Spanish, Italian, Portuguese, Russian, Chinese, Arabic, GermannoyesCySec, NFAyesyes101000
AGEA0https://www.forexexplore.com/forex-brokers/agea-reviews13$5 no-deposit bonushttps://www.forexexplore.com/forex-brokers/agea-reviewsStreamster, MetaTrader 4yesyesCredit Cards, Wire, Skrill, Webmoney, e-Dinar, Neteller, FasaPay, Perfect Money1:500Englishnoyes101001
AvaTrade7http://www.avatrade.com/?tag=15741001100% yeshttps://www.forexexplore.com/forex-brokers/avatrade-reviewAvaTrader, MetaTrader 4, MetaTrader Floating Spread, Mac Trading, Web Trading, Mobile Trading, Automatic Trading, AvaOptionsyesyesCredit Cards, Debit Cards, Skrill, Wire Transfer, PayPal, Neteller, WebMoney1:400English, Chinese, Arabic, Spanish, French, Italian, Portuguese, German, IndonesiannoyesCentral Bank of Ireland, ASIC, Financial Services Commission of British Virgin Islandnoyesnoyesyesyes101011
CMCMarkets2https://www.forexexplore.com/forex-brokers/cmc-markets-review10.7-https://www.forexexplore.com/forex-brokers/cmc-markets-reviewNext Generation web-basedyesnoCredit cards, Wire Transfer500:1English, Chinese, French, Spanish, GermannonoFCAnonono100001
Tifia1https://tifia.com/102.5https://www.forexexplore.com/forex-brokers/tifia-reviewMetatrader 4, webtraderyesyeswire transfer, credit cards, skrill, neteller, perfect money, fasapay, okpay1:1,000noyesVanuatu Financial Services Commission VFSCyesyesnoyes110001
LiteFinance8https://www.litefinance.com/?uid=90000284110330% + 15%yeshttps://www.forexexplore.com/forex-brokers/liteforex-reviewMetatrader 4, Metatrader 5, WebTerminalyesyes Skrill, Webmoney, Bitcoin, Advcash, Credit Card1:500English, Russian, Chinese, Malaysian, German, Arabic, Partugese, Spanish, French, Hebrew, Japanese, Greek noyesCySEC, Marshal Islands Business Corporation Act.yesnoyesyesyesyesyesyesyes111001
InstaForex7https://www.instaforex.com/?x=JR10.6$100 No Deposit Bonusyeshttps://www.forexexplore.com/forex-brokers/instaforex-reviewMetaTrader 4, Metatrader 5, WebtraderyesyesSome local Bank transfers, PayCo, AstroPay, Cryptocurrency1:1,000English, RussianyesyesRAFMMyesyesyesyes111001
Dukascopy4https://www.forexexplore.com/forex-brokers/dukascopy-reviews2500.5-yeshttps://www.forexexplore.com/forex-brokers/dukascopy-reviewsDukascopyyesyesWire, Bank Guarantee, Standby letter of Credit Segregated Accounts1:500English, French, German, Russian, Spanish, Chinese, Japanese, ArabicKPMG ARIFyes110101
RealTrade1http://realtrader.org/203 30% welcome bonushttps://www.forexexplore.com/forex-brokers/realtrade-reviewsMetaTrader 4noyesCredit Cards, WebMoney, and Wire Transfer1:500English, Russiannononononoyes000001
FxPro5https://www.forexexplore.com/forex-brokers/fxpro-review1000.5up to $1,000yeshttps://www.forexexplore.com/forex-brokers/fxpro-reviewFxPro cTrader, FxPro cTrader Web, MT4 Client Terminal, MT4 MultiTerminal, MT4 WebTrader, MT4 Premium yesyesCredit/Debit Card, Bank Wire, PayPal, Neteller, Skrill 1:500Arabic, Chinese, English, French, German, Greek, Hungarian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish and Vietnamese nonoFCA, CySECyesyesnoyes101011
FXOpen1https://www.fxopen.com/12$100https://www.forexexplore.com/forex-brokers/fxopen-reviewsMetaTrader 4noyesWire, WebMoney, AlertPay, CashU, c-gold, PerfectMoney1:500EnglishnonoASIC, FCA UK, Financial Dispute Resolution Schemeyesyesnoyesyes111001
PrimeXBT4https://go.primexbt.com/click?pid=2298&offer_id=121https://www.forexexplore.com/forex-brokers/primexbt-reviewPrimeXBT, TurboyesnoCredit Cards1:1000yesASICyesyesyesyes000001
ActivTrades2https://www.forexexplore.com/forex-brokers/activtrades-reviews1002https://www.forexexplore.com/forex-brokers/activtrades-reviewsMetatrader 4, ActivtraderyesyesCredit Card, Wire transfer, neteller, skrill, sofort1:400English, German, Spanish, Italian, French, PortuguesenonoFCA100001
House of Borse1https://www.forexexplore.com/forex-brokers/house-of-borse-review500000.8https://www.forexexplore.com/forex-brokers/house-of-borse-reviewMetaTrader 4noyescredit cards, wire transfer1:100nonoFCA UKyesyesyes100000
FXDD3http://www.fxdd.com/1002-https://www.forexexplore.com/forex-brokers/fxdd-reviewsMetaTrader4, FXDD Trader, Power Trader, FXDD Auto, MTXtremenoyesWire, PayPal, Check, BPS 1:200English, Chinese, Japanese, Russian, Spanish, Portuguese, German, French, Turkish, Arabic, VietnameseyesMalta Financial Services Authority (MFSA)yes111000
FXCM5https://www.forexexplore.com/forex-brokers/fxcm-review2502-yeshttps://www.forexexplore.com/forex-brokers/fxcm-reviewTrading Station II, MetaTrader 4, Active Trader, Forex System Selector noyesCredit/Debit card, Online Check, Bank Wire, Paper Check1:200Spanish, French, Chinese, Russian, Portuguese, German, Italian, ArabicyesUK Financial Conduct Authority, AFSL yesyesyesyes101000
Hotforex2https://www.forexexplore.com/forex-brokers/hotforex-review52100% bonushttps://www.forexexplore.com/forex-brokers/hotforex-reviewMetatrader 4, mobile platform, rapid trader fix/apiyesyescredit cards, skrill, Unionpay, neteller, wire transfer, webmoney, fasapay1:1,000nonoyesnoyes001001
Oanda3https://www.forexexplore.com/forex-brokers/oanda-reviews11.4https://www.forexexplore.com/forex-brokers/oanda-reviewsMetatrader 4, FXtradeyesyescheck, Credit cards, PayPal, Wire transfer1:50English, Chinese, German, Spanish, French, Italian, Portuguese and RussianyesnoNFAnononoyesyes100000
Saxo Bank2http://www.saxobank.com50002 n/ahttps://www.forexexplore.com/forex-brokers/saxobank-reviewsSaxoTradernoyesWire1:100English, Belgium, German, French, Spanish, Italian, Arabic, Romanian, Russian, PolishDanish Financial Services Authority and operates in the UAE100000
Forex.com4http://www.forex.com/502-https://www.forexexplore.com/forex-brokers/forex-reviewsForexTrader platform (in-house), MetaTrader 4yesyeswire transfer, Credit/Debit Card, Check1:200English, Russian, Japanese, Arabic, Turkish, German, Chinese, Albanian, Thai, Italian, Hebrew, GreekyesnoCFTC, NFA, FCA (UK), ASIC (Australia), ILLROC (Canada), SFC (Hong Kong), FFAJ (Japan)yesyesnoyes100000
HYCM4https://www.forexexplore.com/forex-brokers/hycm-reviews100225% up to $5,000https://www.forexexplore.com/forex-brokers/hycm-reviewsMetatrader 4nonocredit cards, wire transfer, Skrill, webmoney1:400English, Chinese, ArabicnonoFCA UK, CySEC, SFCnononoyes100011
AdmiralMarkets1https://www.forexexplore.com/forex-brokers/admiralmarkets-reviews103n/ahttps://www.forexexplore.com/forex-brokers/admiralmarkets-reviewsMetaTrader 4noyesWire1:200English, Spanish, Russian, Lithuanian, Romanian, Latvian, Bulgarian, Greek, Croatian, Polish, Hungarian, Czech, Italian, Estonian, German, Finnish, Portuguese001000
Alpari2https://www.forexexplore.com/forex-brokers/alpari-review1250% Welcomehttps://www.forexexplore.com/forex-brokers/alpari-reviewMetaTrader 4noyesDebit or Credit Card, Wire Transfer1:500English, Chinese, German, and Arabicyesyes011001
FinPro Trading2https://www.forexexplore.com/forex-brokers/finpro-trading-review50.07100%https://www.forexexplore.com/forex-brokers/finpro-trading-reviewMetatrader 4, zulutrade, Finopro stationyesyescredit cards, paypal, skrill, wire transfer1:200Englishnoyesnoyesyesyes010000
Fort Financial Services1https://www.fortfs.com53https://www.forexexplore.com/forex-brokers/fort-financial-reviewsMetaTrader 4, CQG, Ninja trader, binary optionsyesyesCredit cards, webmoney, Skrill, Neteller, perfect money, fasapay, wire transfer1:1,000EnglishnonoIFSCyesyesnoyes110001
Blackwell Global2https://www.forexexplore.com/forex-brokers/blackwell-global-review20003-https://www.forexexplore.com/forex-brokers/blackwell-global-reviewMetaTrader 4, Blackwell Pro, Mobileyesyesredit/debit cards, Neteller, Skrill, Wire transfer1:200Arabic, Chinese, English, Greek, Italian, Korean, French, RomanianFinancial Conduct Authority101000
AAAfx2https://www.aaafx.com/3000.2up to 30%https://www.forexexplore.com/forex-brokers/aaafx-reviewsZTP, MetaTrader 4, Binary options webtrader, ZulutradeyesyesWire, Credit Card, Skrill, Neteller, giropay, EPS, directpay24, teleingreso, ideal, qiwi, Bitcoin1:200Arabic, Chinese, English, French, German, Greek, Italian, Japanese, RussiannoyesHCMC (Greece)yes100000
XTB2https://www.xtb.com2502https://www.forexexplore.com/forex-brokers/xtb-reviewsMetatrader 4, xStation, xMobileyesyesCredit cards, Neteller, Paypal, Skrill, Wire transfer1:200nonoCNMV (Spain), FCA (UK), FSA (Poland)yesyesnoyes100000
iFOREX3https://www.forexexplore.com/forex-brokers/iforex-reviews1003-https://www.forexexplore.com/forex-brokers/iforex-reviewsFXnet Traderyesyescredit cards, wire transfer1:400English, Hebrew, Indonesian, German, Spanish, French, Italian, Nederlands, Portuguese, Romanian, Turkish, RUssian, Arabic, Chinese, JapanesenonoHFSA in Hungary, CySECnonono101001
Oinvest0https://kc-welcome.lp-oinvest.co.za/r?hash=_WkFLpV2000.7Samsung Galaxy, iPhonenohttps://www.forexexplore.com/forex-brokers/oinvest-reviewMetatrader 4yesyesSkrill, Neteller, Credit Cards 1:200noyesyesyesyesyesyesyesyesyesyesyes111000
Plus5005https://www.forexexplore.com/forex-brokers/plus500-reviews500230%yeshttps://www.forexexplore.com/forex-brokers/plus500-reviewsPlus500yesnoSkrill, Credit Cards, Wire Transfer1:200English, Hebrew, ArabicIsrael Securities Authority100010
TraderTrust1http://traders-trust.com/100as low as 2100% upto $5,000https://www.forexexplore.com/forex-brokers/tradertrust-reviewsSmartForexnoyesSkrill, Credit Cards1:200English, Russian, Italian, and ArabicCySec, VFCSyes100000
AdvancedMarkets3https://www.forexexplore.com/forex-brokers/advancedmarkets-reviews5000-2.5-https://www.forexexplore.com/forex-brokers/advancedmarkets-reviewsAdvanced Trader/Pro/Prime, Fortex FX noyesWire, Check1:50English, Spanish, KoreanAustralian AFSL, ASICyes100000
XM8http://clicks.pipaffiliates.com/afs/come.php?id=27&cid=3689&ctgid=16&atype=151$30 no deposityeshttps://www.forexexplore.com/forex-brokers/xm-reviewMetaTrader 4, Metatrader 5, XM WebtraderyesyesCredit/Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer1:888Arabic, Chinese, English, French, German, Greek, Hungarian, Indonesian, Italian, Japanese, Malay, Korean, Polish, Portuguese, Russian, Spanish, Swedish, Turkish, Thai, VientamesenoCySEC, ASIC Australia, IFSC Belizenoyesyesnoyesno101011
Anzo Capital2https://anzocapital.com/1002https://www.forexexplore.com/forex-brokers/anzo-capital-reviewMetaTrader 4yesyesWebmoney, Skrill, Neteller, Credit Cards1:1000English, Chinesenonoyesyesyesyesyesnonoyesnono110001
MEX Exchange1https://www.mexexchange.com/250.2https://www.forexexplore.com/forex-brokers/mex-exchange-reviewMetatrader 4noyesNeteller, Skrill, Fasapay, UnionPay, Credit Cards, Wire Transfer1:500nonoASICyesyesyesyes110001
FBS1https://www.forexexplore.com/forex-brokers/fbs-review1from 0,2 pips fixed/floating$123 Welcome Bonushttps://www.forexexplore.com/forex-brokers/fbs-reviewMetaTrader 4, Metatrader 5, Webtradingyesyescredit cards, fasapay, Indonesia local banks, Neteller, okpay, perfectmoney, Skrill, Webmoney, wire transfer, Thai local banks, Exchangers, Malaysian banks and Bitcoin by Skrillup to 1:3,000English, Bahasa Indonesia, Bahasa Malyasian, Russian, Spanish, Portuguese, Arabic, Vietnamese, Bengali, Lithuanian, Korean, Chinese, Thai, TamilIFSC; Cysecyesyesyesyes101001
FP Markets3http://go.fpmarkets.com/visit/?bta=35186&nci=5369200starting from 010% credit bonushttps://www.forexexplore.com/forex-brokers/fpmarkets-reviewMetaTrader 4 (MT4), IRESS, Mobile tradingyesyescredit cards, UnionPay, Neteller, Skrill (3% fee), Wire transfer, BPay and broker-to-broker transfer1:500English, Bahasa Melayu, French, Finish, Chinese, Norwegian, Russian, Thai, Italian, German, Portuguese, Spanish and SwedishnoyesASICyesyesyesyesyes110011
DFMarkets3http://www.dfmarkets.co.uk100from 0.1 pips10% Trading Credit Promotion up to $1,000https://www.forexexplore.com/forex-brokers/dfmarkets-reviewsDFTrader, DF WebTrader, DF MobileyesyesBank wire, Credit/Debit cards1:200EnglishnonoFCAnononoyesyes100000
EasyMarkets2http://www.easymarkets.com1002.5https://www.forexexplore.com/forex-brokers/easymarkets-reviewMetatrader 4, EasyMarkets web-based platformyesyescredit cards, neteller, Skrill, Webmney, wire transfer1:100nonoASIC (Australia), CySEC (Cyprus)nononoyes101000
OctaFX9http://octaengine.com/c/?p=566&bt=gif&b=236850from 0.2up to 50%yeshttps://www.forexexplore.com/forex-brokers/octafx-reviewsMetaTrader 4, Metatrader 5, cTraderyesyesNeteller, Skrill, Fasapay, Visa, Mastercard, Malaysian, Vietnamese, Indian, Indonesian, Bangladeshi local banks, Bitcoin, Unionpay1:500EnglishyesFCA UKyesyesyesyesyes110011
IronFX4https://www.forexexplore.com/forex-brokers/ironfx-reviews100040%yeshttps://www.forexexplore.com/forex-brokers/ironfx-reviewsMetatrader 4yesyescredit cards, Fasapay, neteller, qiwi, skrill, webmoney, wire transfer1:500EnglishnoyesASIC, CySEC, DFSA, FCA UK, FSB, UCRFIN, CRFIN, Member of Eurex Exchange, Consob, BaFINyesyesyes110001
FxGlory0https://www.forexexplore.com/forex-brokers/fxglory-review10.550% up to $1,000https://www.forexexplore.com/forex-brokers/fxglory-reviewMetaTrader4, MobilenoyesCredit/debit cards, Paypal, Bitcoin1:3,000Englishyes000001
TrioMarkets0https://www.forexexplore.com/forex-brokers/triomarkets-review1003-https://www.forexexplore.com/forex-brokers/triomarkets-reviewMetaTrader 4, Sirix WebtraderyesyesCredit Card, Wire, Skrill, Neteller, Paypal and CashU1:300English, Arabic, French, Italian, GermannoyesCySECnoyesno101000
CityIndex2http://www.cityindex.co.uk1002-https://www.forexexplore.com/forex-brokers/cityindex-reviewMT4 (MetaTrader 4), Advantage Web, Advantage Trader, iPhone, Android, Windows Phone App, iPad and Tablet AppyesyesCredit/Debit Cards1:400EnglishTrademark of GAIN Capital UK Ltd - Regulated by FCAyesyes100001
Markets.com2https://www.forexexplore.com/forex-brokers/markets-com-review1002up to $2,000https://www.forexexplore.com/forex-brokers/markets-com-reviewMeta Trader 4,MarketTrader, Market WebTrader, Market Java Trader, Market Mobile Trader, Market WAP Trader, Market iTrader, Market AutoTraderyesyesCredit/Debit Cards, Wire Transfer, Webmoney, Local Payments1:200English, French, Spanish, German, Russian, Italian, Chinese, Arabic, Turkish, Portuguese, Japanese, Polish, Greek, Dutch, SwedishCySEC, FSCA South Africa yesyes111000
Orbex0https://www.forexexplore.com/forex-brokers/orbex-review5001.6https://www.forexexplore.com/forex-brokers/orbex-reviewMetaTrader 4noyesSkrill, Neteller, Wire Transfer, Credit Cards, CashU, Webmoney1:500English, Arabic, Bengali, Spanish, German, Russian, Chinese, Bulgarian, Urdu, GreeknonoCySECyesyesno110001
CMTrading4http://go.cmtaffiliates.com/visit/?bta=36085&brand=cmtrading200215% matchhttps://www.forexexplore.com/forex-brokers/cmtrading-reviewMetaTrader 4, Sirixyesyescredit/debit cards, Wire transfer, CashU ,Skrill1:400Financial Services Board (FSB) South Africa100001
AccentForex0https://www.forexexplore.com/forex-brokers/accentforex-review10350%nohttps://www.forexexplore.com/forex-brokers/accentforex-reviewMetaTrader 4noyesWebMoney, OkPay, Skrill, Wire Transfer, Credit Cards1:500English000001
GrandCapital0https://www.forexexplore.com/forex-brokers/grandcapital-review102$500 no deposithttps://www.forexexplore.com/forex-brokers/grandcapital-reviewMetaTrader 4, WebTraderyesyesCredit card, Neteller, Webmoney, CashU, Fasapay, Scrill, Webmoney500:1English, Russian, Chinese, IndonesianyesnoFinancial Commission FinaCom, EDR Hong Kong external dispute resolution organizationyesnono101001
Simplefx1https://simplefx.com11https://www.forexexplore.com/forex-brokers/simplefx-reviewsMetaTrader 4 and in-house web-based platformyesyesWire transfer, Credit/debit cards, Skrill, Neteller, Astropay, Webmoney, FasaPay, Qiwi, Moneta, ru, Yandex, China UnionPay, Bitcoin and litecoin1:100nonononononoyes000000
Alvexo0https://www.forexexplore.com/forex-brokers/alvexo-review50003.3-https://www.forexexplore.com/forex-brokers/alvexo-reviewMetaTrader 4, WebTrader, MobileyesyesCash-U, Credit Card, Webmoney, Wire Transfer400:1English, FrenchnonoCySECyesyes100001
RubixFX0https://www.forexexplore.com/forex-brokers/rubixfx-review5000.2-https://www.forexexplore.com/forex-brokers/rubixfx-reviewMetaTrader 4noyesWire Transfer, Credit Cards400:1English, French000001
NSFX0https://www.forexexplore.com/forex-brokers/nsfx-review3003https://www.forexexplore.com/forex-brokers/nsfx-reviewMetatrader 4, Webtrader, NSFX Jforex platformyesyescredit cards, Skrill, CashU and wire transfer200:1English, Arabic, German, Turkish and ItaliannonoMFSAyesyesno100000
Synergy FX1https://synergyfx.com/5002https://www.forexexplore.com/forex-brokers/synergyfx-reviewsMetaTrader 4noyescredit cards, skrill, wire transfer1:500noyesASIC, AFSLyesyesyesyes100001
FXGrow0https://www.forexexplore.com/forex-brokers/fxgrow-review1000.8-https://www.forexexplore.com/forex-brokers/fxgrow-reviewMetaTrader 4, NetStationyesyesCredit/Debit cards, Skrill, Neteller, OkPay, CashU, WireTransfer200:1English001000
Juno Markets0https://www.forexexplore.com/forex-brokers/juno-markets-review5003-https://www.forexexplore.com/forex-brokers/juno-markets-reviewMetaTrader 4noyesneteller, skrill, credit cards, wire transfer1:400EnglishnonoFinaComnoyesno100001
Tickmill3http://www.tickmill.com/1001.2-https://www.forexexplore.com/forex-brokers/tickmill-reviewMetaTrader 4, Webtraderyesyeswire transfer (commission are charged), credit/debit cards, Skrill, Neteller, FasaPay, UnionPay and WebMoney1:500noyesFCA UK, FSA Seychellesyesyesnoyes111011
TeleTrade0https://www.forexexplore.com/forex-brokers/teletrade-review2000524%https://www.forexexplore.com/forex-brokers/teletrade-reviewMetaTrader 4, Mobilenoyescredit cards, Wire transfer, Neteller, Skrill1:200English, Russian000000
Financika1https://www.financikatrade.com/2502https://www.forexexplore.com/forex-brokers/financika-reviewsProfit, WebProfit, MetaTrader 4yesyes credit cards, wire transfer200:1nononononono000000
TenkoFX3http://www.tenkofx.com103https://www.forexexplore.com/forex-brokers/tenkofx-reviewMetaTrader 4, WebtraderyesyesSkrill, Neteller, FasaPay, Webmoney, Yandex Money, Qiwi1:500EnglishnonoInternational Financial Services Commission of Belizeyesyesno100001
KGIeworld0https://www.forexexplore.com/forex-brokers/kgieworld-review10003-https://www.forexexplore.com/forex-brokers/kgieworld-reviewMetaTrader 4noyesWire Transfer, Check1:50EnglishnonoMASnoyesno100000
Abshire-Smith0http://www.abshire-smith.com/5001.8https://www.forexexplore.com/forex-brokers/abshire-smith-reviewsVertex fx, Metatrader 4, straticatornoyesCashU, Neteller, Skrill, Wire Transfer1:200nonoFCAyes101000
Alfa Financial0http://www.alfafinancials.com10000$1 plus $15 commissionshttps://www.forexexplore.com/forex-brokers/alfa-financial-reviewMetaTrader 4, AX1Traderyesyes1:100EnglishnonoCentral Bank UAEyes100000
Blueberry Markets4https://www.blueberrymarkets.com1001.5https://www.forexexplore.com/forex-brokers/blueberry-markets-reviewsMetaTrader 4noyescredit cards, wire transfer, POLi, Skrill1:500nonoASICyesyesyesyes110001
CIBfx0http://www.cibfx.com1001https://www.forexexplore.com/forex-brokers/cibfx-reviewMetaTrader 4 yesyesPaypal, Skill, Credit Cards, Neteller1:200nonoVSFCnoyesno000000
BlackBull Markets9https://go.blackbullmarkets.com/visit/?bta=39396&brand=blackbull2000.8yeshttps://www.forexexplore.com/forex-brokers/blackbull-markets-reviewMetatrader 4, Metatrader 5yesyesBank Transfer, Credit Card Payments (Visa, MasterCard), Skrill, Neteller, China Union Pay, FasaPay1:500yesnoFinancial Services Provideryesyesyesnoyesyesyes100000
Darwinex0https://www.darwinex.com/5001https://www.forexexplore.com/forex-brokers/darwinex-reviewMetaTrader 4, cTraderyesyesBank Wire, Credit Cards, UnionPay1:200noyesFCAyes100000
Eightcup0https://www.eightcap.com/1001https://www.forexexplore.com/forex-brokers/eightcap-reviewMetatrader 4noyes1:500nonoASICyesyesnoyes110011
ETX Capital0https://www.etxcapital.com/1001https://www.forexexplore.com/forex-brokers/etxcapital-review ETX Trader Pro, Metatrader 4, ETX binaryyesyescredit cards, wire transfer, firopay, neteller, skrill, sofort, china unionpay1:200nonoFCAnonono100000
FCI Markets1http://www.fci-markets.co.uk/2500.2https://www.forexexplore.com/forex-brokers/fci-markets-reviewsCurrenex, FCI NetStation, MetaTrader 4yesyescredit cards, neteller, skrill, wire transfer1:100noyesFCAyesyesno110000
Fortrade1https://www.fortrade.com/5003https://www.forexexplore.com/forex-brokers/fortrade-reviewsFortraderyesyeswire transfer, credit cards, skrill, neteller1:200nonoFCAnononoyes100000
FXGiants1http://www.fxgiants.co.uk5002.2https://www.forexexplore.com/forex-brokers/fxgiants-reviewsMetaTrader 4noyescredit cards, neteller, paypal, skrill, unionpay, Webmoney, Wire Transfer1:500nonoFCAnonoyes100001
FXGlobe1https://www.fxglobe.com/2500.7https://www.forexexplore.com/forex-brokers/fxglobe-reviewsMetaTrader 4noyesCredit cards, Neteller, Skrill, Wire transfer1:500nonoCySECyesnoyes110001
FXonus1https://fxonus.com/5003https://www.forexexplore.com/forex-brokers/fxonus-reviewMetaTrader 4yesyesCredit Cards, Skrill, Neteller, Wire Transfer, China Union Pay1:500nononoyesnono010001
FXoro1https://www.fxoro.com/2003https://www.forexexplore.com/forex-brokers/fxoro-reviewsMetatrader 4noyescredit cards, wire transfer, skrill, neteller, ecoPayz, CashU1:400nonoCySECyesnono100001
FXprimus1http://www.fxprimus.com/1000.3https://www.forexexplore.com/forex-brokers/fxprimus-reviewsMetatrader 4noyesBitcoin, China UnionPay, FasaPay, Neteller, Skrill, Wire Transfer1:500nonoCysecyesyesyes110001
Infinox1https://www.forexexplore.com/forex-brokers/infinox-reviews1001.5https://www.forexexplore.com/forex-brokers/infinox-reviewsMetatrader 4noyescredit cards, wire transfer, skrill, neteller, china unionpay1:300noboFCA UKyesyesnoyes100000
JCMFX1http://jcmfx.com/101.8https://www.forexexplore.com/forex-brokers/jcmfx-reviewMetaTrader 4noyescredit cards, FasaPay, Wire Transfer, Neteller, Skrill1:1,000nonoFSAnonono100001
Larson&Holz1https://www.lh-broker.com/1000https://www.forexexplore.com/forex-brokers/larson-holz-reviewMetatrader 4, Web Traderyesyescredit cards, wire transfer, neteller, paypal, Yandex, liqpay, alfa click, beeline, mtc, perfect money1:500nonoFMRRC, NAFDyesyesno100001
LCG1https://www.lcg.com/11.6https://www.forexexplore.com/forex-brokers/lcg-reviewsMetaTrader 4, LCG Trader (web-based, ECN accounts only)yesyeswire transfer, debit/credit cards, Skrill1:500nonoFCA UKyesyesnoyes100001
LMFX1https://www.lmfx.com/501.8100% match bonus, 15% recoveryhttps://www.forexexplore.com/forex-brokers/lmfx-reviewMetatrader 4, Webtraderyesyescredit cards, Fasapay, neteller, okpay, skrill, wire transfer1:1,000yesnonoyesnoyesyes000001
LQDFX1https://www.lqdfx.com/201https://www.forexexplore.com/forex-brokers/lqdfx-reviewMetaTrader 4, xStationyesyesWire transfer, Credit cards, Skrill, Neteller, Unipay, FasaPay, SoFort, iDeal1:500nononoyesyesno000001
Mahi FX1https://mahifx.com/11https://www.forexexplore.com/forex-brokers/mahifx-reviewsMetatrader 4, MahiFXyesyeswire transfer, credit cards1:100nonoFCA UK, ASIC, FMAnononoyesyes100000
Paxforex1https://paxforex.com/10No deposit $7 bonus – cannot withdrawhttps://www.forexexplore.com/forex-brokers/paxforex-reviewsMetaTrader 4noyesCredit cards, FasaPay, Neteller, OKPAY, Perfect Money, QIWI, Skrill, UnionPay, WebMoney, Wire Transfer1:500nononononoyes000001
Pricemarkets1https://pricemarkets.com5002.5https://www.forexexplore.com/forex-brokers/pricemarkets-reviewMetaTrader 4 ECN, Currenex ECN, Integral FX, Liquid-x, Hotspot FXyesyeswire transfer, credit cards1:400yesnoFCA UKyesyesyes100001
Rallytade1https://www.forexexplore.com/forex-brokers/rallytrade-review1001.6https://www.forexexplore.com/forex-brokers/rallytrade-reviewMetatrader 4, xStation (web-based), xSocial, xOptionsyesyescredit cards, neteller, skrill, Interswitch, Pocketmoni, etraszact, perfectMoney, WebMoney, VoguePay1;1,000yesyesFinaCOMnonono100001
Range Markets 1https://www.rangeforex.com/1003https://www.forexexplore.com/forex-brokers/range-markets-reviewsMetatrader 4noyesNeteller, Credit Cards, wire transfer1:500nonoFSA of St. Vincent and the Grenadinesnonono100001
Rekuten Securities1https://www.forexexplore.com/forex-brokers/rakuten-reviews10.7https://www.forexexplore.com/forex-brokers/rakuten-reviewsMarketSpeed FX, Trading Station (inherited from FXCM)yesyeswire transfer, checks, ATM (only for local residents)1:50nonoSFCnoyesnoyes100000
Roboforex1http://www.roboforex.com/12https://www.forexexplore.com/forex-brokers/roboforex-reviewMetaTrader 4, cTraderyesyescredit cards, QIWI wallet, webmoney, Yandex.money, RBK money, Skrill, FasaPay, CashU, Payoneer, China UnionPay, Neteller, Perfect Money1:500nonoCysec, IFSC, FSP, FSCLyesyesno100001
Swissmarkets0https://www.swissmarkets.com/?campaign=1341&p1=&p2=334&p3=6m8j8j7w#signup2001.2https://www.forexexplore.com/forex-brokers/swissmarkets-reviewMetatrader 4, Webtraderyesyescredit cards, wire transfer, neteller, skrill, iDEAL, giropay1:500nonoCySEC, MiFIDnoyesno100101
Trade3600https://www.trade360.com/1001.835%, $60 no deposit for real accounthttps://www.forexexplore.com/forex-brokers/trade360-reviewTrade360yesnocredit cards, skrill, neteller, wire transfer1:1,000nonoCySECnononoyesyes100001
Tradersway1https://www.tradersway.com/01https://www.forexexplore.com/forex-brokers/traders-way-reviewsMetatrader 4, ctraderyesyesSkrill, Neteller, Perfect Money, Webmoney, QIWI, MonetaRu, EasyPay, Boletto, CashU1:1,000nononoyesyesno010001
Trading2121http://www.trading212.com/1002.5https://www.forexexplore.com/forex-brokers/trading212-reviewTrading212yesnowire transfers, credit and debit cards, PayPal, Dotpay, Giropay, SafetyPay, Carte Bleue, Mister Cash, Direct eBanking, CashU and UnionPay1:200nonoFCA UKnoyesnoyes100000
TurnkeyForex1http://turnkeyforex.com/5200% deposit bonus; 30 days of commission-free trading; 30% rescue bonushttps://www.forexexplore.com/forex-brokers/turnkey-forex-reviews MetaTrader 4, Trade Stationyesyescredit cards, wire transfer, neteller1:200yesyesnoyesyesyes000000
Whaleclub1https://whaleclub.co/11https://www.forexexplore.com/forex-brokers/whaleclub-reviewsin-house whaleclub web platformyesnobitcoin1:100nononononono000000
Z.com Trade3https://trade.z.com/11.4https://www.forexexplore.com/forex-brokers/z-com-trade-reviews Z.com trader web, Z.com trader pro (demo account only)yesyescredit cards, wire transfer, china unionpay, skrill1:200nonoFCA UKyesyesno100000
Freshforex3https://www.forexexplore.com/forex-brokers/freshforex-review13+5% to each cryptocurrency deposit; get 300% for each deposithttps://www.forexexplore.com/forex-brokers/freshforex-reviewMetatrader 4yesyesWebMoney, ePayService, Skrill , FasaPay, ADVCash, Perfect Money, Neteller, OnlineNaira NGN/USD, E-wallets for the Philippines, Visa/Mastercard/Maestro USD/EUR, Local Depositors, Bitcoin, Internet Banking1:1000noyesKROUFRyesyesyesyesyesyesyesyesyes110011
ForexMart0https://www.forexexplore.com/forex-brokers/forexmart-review10.0$150 no deposit neededhttps://www.forexexplore.com/forex-brokers/forexmart-reviewMetatrader 4yesyescredit cards, Neteller, Skrill, Paypal, Paxum? Bitcoin1:1,000nonoCySECnoyesyesyesyesyesyesyes100001
Pepperstone3https://trk.pepperstonepartners.com/aff_c?offer_id=329&aff_id=40262001.2100% Match Bonushttps://www.forexexplore.com/forex-brokers/pepperstone-reviewMetatrader 4, Metatrader 5, cTrader, cAlgo, cMirroryesyesbPay, credit cards, Paypal1:500EnglishyesyesASIC, FCA UKyesyesyesyesyesyesyesyes111001
Forexee0https://www.forexee.com500.5 plus commissionsSpecial trading commission $1, Welcome Bonus $15 for STP, 0% commission for depositshttps://www.forexexplore.com/forex-brokers/3768-forexee-reviewMetaTrader 4noyesCredit Cards, Webmoney, Wire Transfer, Skrill, Neteller, Bitcoin, Bitcoin Cash, litecoin, Fasapay, etherium, Payza, Perfect Money1:500Englishnononoyesyesnoyes010001
AETOS0https://www.forexexplore.com/forex-brokers/aetos-review2502https://www.forexexplore.com/forex-brokers/aetos-reviewMetaTrader 4yesyesBank wire transfer, Credit cards, Debit cards, Skrill, ZOTAPAY1:200nonoFCA UKnononoyesyes100000
AETOS0https://www.forexexplore.com/forex-brokers/aetos-review2502https://www.forexexplore.com/forex-brokers/aetos-reviewMetaTrader 4yesyesBank wire transfer, Credit cards, Debit cards, Skrill, ZOTAPAY1:200nonoFCA UKnononoyesyes100000
LH-Crypto0https://www.lh-crypto.com/101https://www.forexexplore.com/forex-brokers/lh-crypto-reviewMetatrader 4, Metatrader 5yesyesBitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, DASH, Ripple, NEO, Visa, MasterCard, Web Money, QIWI, wire transfer1:5002018noyesyesyesyesnoyes111001
TradeFW3https://www.tradefw.com/0250https://www.forexexplore.com/forex-brokers/tradefw-reviewyesyesBank wire, Credit/Debit Card.1:30nonoCysecyesyesnoyes110000
1Market0https://www.forexexplore.com/forex-brokers/1market-review2503https://www.forexexplore.com/forex-brokers/1market-reviewWebtrader, Metatrader 5yesyescredit cards, bank wire transfers, Neteller, Skrill, Sofort, Rapid, PaySafe Card and Volt1:400nonoCysecnonononoyes100001
Trade Nation4https://www.forexexplore.com/forex-brokers/tradenation-review10.6https://www.forexexplore.com/forex-brokers/tradenation-reviewin-house web-based platform, Metatrader 4 MT4yesyesCredit Card, Srill 1:30; 1:200EnglishyesyesFCA in the UK, the ASIC in Australia, the FSCA in South Africa and the SCB in the Bahamasyes110000
PlusMarkets0https://www.forexexplore.com/forex-brokers/plusmarkets-review00.1https://www.forexexplore.com/forex-brokers/plusmarkets-reviewMetatrader 4, PlusMarkets Traderyesyescards, wire transfers, and some alternative payment methods, which aren’t specified1:30nonoCySecnoyesno100000
HonorFX0https://www.forexexplore.com/forex-brokers/honorfx-review1000.2https://www.forexexplore.com/forex-brokers/honorfx-reviewMetatrader 5noyesCredit Cards, Neteller, Skrill, Paypal, Bitpay, Fasapay, Perfect Money1:500FSAyes101001
Tiger Brokers0https://www.forexexplore.com/forex-brokers/tiger-brokers-review0https://www.forexexplore.com/forex-brokers/tiger-brokers-reviewTiger TradenoyesBank Wire Transfer, FAST, DDA, PayNowUp to 4x (day trade), Up to 2x (next day)yesUS Securities and Exchange Commission, Australian Securities & Investments Commission (ASIC) yes100000
MarketBull0https://www.forexexplore.com/forex-brokers/marketbull-review10001.8100% match the deposithttps://www.forexexplore.com/forex-brokers/marketbull-reviewMetatrader 4yesyesCredit Cards, Neteller, Skrill, Bank Wire Transfer1:1000jurisdiction of the UKyesyesyesyesyes110001
CedarFX0https://www.forexexplore.com/forex-brokers/cedarfx-review503https://www.forexexplore.com/forex-brokers/cedarfx-reviewMetaTrader 4 yesCredit Card, Bank Wire, Bitcoin1:500yes100001
GCI Trading0https://www.forexexplore.com/forex-brokers/gci-trading-review500150% on deposithttps://www.forexexplore.com/forex-brokers/gci-trading-reviewMetaTrader 4, ActTraderyesyesBank Wire Transfer, Credit Card, Neteller, Skrill1:400IFSCyesyes110001
Axi0https://www.forexexplore.com/forex-brokers/axitrader-review2001.2https://www.forexexplore.com/forex-brokers/axitrader-reviewMetatrader 4yesyesDebit and Credit Cards (Visa, Master, Maestro, JCB) Neteller Skrill/Moneybookers Global Collect (only for Australian clients) BPAY (only for Australian Clients) China Union Pay (only for Chinese residents) Bank Transfer Broker to Broker Transfer1:400nonoASIC, FCA, Financial Services Authority in Saint Vincent and the Grenadinesnonoyes100001

Forex Trading Regulations in the Philippines

All forex brokers in the Philippines must abide by the regulations set by the Bangko Sentral ng Pilipinas (BSP), the main regulatory body. The Forex Market is regulated by the Bangko Sentral Ng Pilipinas (BSNP). Any purchase that’s funded by the Philippine peso must fall under the FX Manual.

How to Verify SEC Authorization

The SEC does not maintain a list of authorized Forex brokers, but traders can check the website for claimed registration by a company or contact them via e-mail or phone.

5 Tips for Choosing the Best Forex Broker in the Philippines

1. Demo Platform

Before you pick a forex broker in the Philippines, it’s essential to ensure that you can have a demo on the platform. The demo will allow you to view all the features the platform offers and test everything out.

2. Safety

When you’re just starting with forex trading, safety is crucial. Make sure that your forex broker falls under tier 1 jurisdiction.

3. User Reviews

Read through the user reviews as they can give you a proper idea of how the platform behaves.

4. Research Options

There’s no point in going for a forex broker that doesn’t offer a decent variety of research options. Make sure that you can have a demo of the research options before you make your final decisions.

5. Automation Tools

One of the best features of modern trading platforms is that they offer a variety of automation tools. Test out the automation tools and assess whether they meet your requirements.

Is Forex Trading Legal in the 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 forex brokers ? Feel free to ask below in comments! Our staff is monitoring this forum and replying to all questions usually within 48 hours.

How Can I Start Forex Trading in the Philippines?

The first step is committing to making a serious attempt at trading Forex successfully. This will take some hard work – if you aren’t prepared to study, you almost certainly will not be successful at it. Most most new traders find it is a challenging process, both practically and psychologically. If you are a patient person and you can spend time on your own in front of a computer figuring out puzzles without losing patience, then you might have the right personality and skill set to be good at trading Forex.

It is also important that you accept an outcome where you lose money, especially at the beginning, as almost all traders struggle to avoid significant losses while they are learning. If you are a compulsive gambler, or if you have no ability to take a series of controlled losses by limiting your risk, you will struggle to succeed at trading Forex.

If you decide to try to become a profitable Forex trader, you will need enough money to get started. Although there are many Forex brokers that do not require any minimum deposit, to trade safely and limit your risk appropriately you need at least $12 if you are trading nano-lots, or $120 if you are trading micro-lots. Typically, the higher the sum you deposit with a broker, the better trading conditions you will get in return.

The last step in starting Forex trading is opening a demo account with the best broker for you, and then after practicing, opening a real money account. You will be able to choose the best Forex broker for you by reading the rest of this article and assessing each of the Forex brokers listed here. 

What Time Does the Forex Market Open in the Philippines?

The Forex market is open continuously from Monday morning in New Zealand until the close of business hours in New York on Friday, which is basically all hours except weekends. This means that most Forex brokers offer continuous trading from 5am Monday until 4am Saturday every week local Philippines time.

In the Philippines, the London session opens at 3pm, and the New York session opens at 8pm.

Conclusion

Forex brokers in the Philippines fall under the regulation of the Securities and Exchange Commission, a government agency responsible for the supervision of the domestic securities industry. This regulatory body safeguards the stability and integrity of local financial markets and also aims to improve transparency and confidence in local markets.

Locally regulated Forex brokers do offer a certain level of protection for retail investors, but yet, the latter is free to choose any other brokerage, including those regulated by reputable Forex authorities elsewhere.

At the same time, the Banko Sentral ng Pilipinas (BSP) is responsible for monitoring the country’s economy and ensuring its financial system’s stability. Despite that the central bank is not directly responsible for regulating Forex market participants, it plays an essential role in Forex trading since it determines the exchange rate policy for the Philippine Peso against currencies worldwide and manages domestic currency reserves.

Disclaimer: We should note that similar to other countries with developing financial systems, the Philippines Forex industry has also seen numerous cases of scams – unethical behavior by online brokers resulting in huge losses for retail traders.

Trading the financial markets will always carry a risk especially when dealing in foreign currencies, so make sure that you are trading with a broker that holds a regulatory license.

FAQs

Which Forex Brokers Are Legal in the Philippines?

Best forex broker Philippines is legal when the respective financial regulatory body regulates it, which makes it safe for forex traders.

Can I Trade Forex in the Philippines?

Yes, you can if you are eligible enough to do forex trading.

Is Forex Trading Allowed in the Philippines?

Foreign exchange trading in the Philippines is allowed only in a few regions where you can safely do forex trading.

Do Forex Traders Pay Tax in the Philippines?

The CTA determined that a currency gain gained or realized by changing dollars to peso under a hedging contract is not part of an entity’s PEZA or BOI-registered activity and is not taxable for forex traders.

Trading financial instruments carries high level of risk to your capital with the possibility of losing more than your initial investment. This site will not be held liable for any loss or damage in result from using the information within the site including forex Broker reviews 2022, market analysis, trading signals, learning resources and comparison tables. The data within this website is not necessarily real-time nor accurate and do not represent the recommendations of the employees. Currency trading is not suitable for all investors. Before deciding to trade currency or any other financial instrument please consider consider your investment objectives, level of experience, and risk appetite. While we do our best to provide up-to-date information, we strongly encourage you to verify it directly with the broker of your choice.