Finding the best brokerage firm as a Philippine can be a difficult process. Especially getting the ones that accept Philippine traders and would allow you to invest in your currency, the Philippine peso. Don’t worry, you’re not alone.

We’ve listed the best trading sites that would let you as a Philippine trader, trade Indices, Forex, Stocks, ETFs, Binary Options, CDFs, and some cryptocurrencies like Ethereum and Bitcoin.

These brokers also support payment options that will allow you as a Philippine trader to make your deposit and quick withdrawal of your profit. They provide the lowest fees and support cTrader, MT4, and MT5 trading platforms.

They also provide the best signup bonuses for new traders from the Philippines, and are trusted, safe, and have a long term record in the forex world.

Here’s a breakdown of the top 10 best forex brokers in Philippines:

  1. XM – Best Overall Forex Broker In Philippines.
  2. HotForex – Most Trusted Online Forex Broker.
  3. IC Markets – Best Forex Broker With The Lowest Spreads.
  4. IQ Option – Best Online Broker For Forex Trading.
  5. eToro – Best Forex Broker For Copy Trading.
  6. Olymp Trade – Best Broker For Forex Investors.
  7. FXTM – Best FX Broker For Online Trading.
  8. ExpertOption – Best Reliable Forex Trading Platform.
  9. AlpariGreat For Dedicated Forex Day Traders.
  10. OctaFX – Award Winning International Forex Broker.

Best forex brokers in Philippines video

Here’s How We Choose The Best Broker For You!

Regulated – Before any Philippine trader signs up to a new broker, the trader needs to check if the broker is regulated. A Regulated broker is one that follows the strict rules of the forex regulators to prevent scamming small investors like you and i.

Major regulators in the industry include DFSA, SCB, CySEC, FCA, FSB, MiFID, ASIC, IFSC, BaFin, and many others. Before creating our list of the best brokers for the Philippines, we had to make sure they were all regulated and trusted brokers.

Offers Demo Account – A Demo trading account is a virtual account made by a broker for new traders who want to test the brokers’ platform before depositing real money. This feature is essential for beginners who are still new to forex trading and won’t like to lose their investment while learning how to trade.

Asset Coverage – Asset are financial instruments available for us to trade on. They range from commodities like gold and silver to cryptocurrencies, stocks, CFDs, ETFs, indices and currency pairs. Most brokers offer all asset types, while some offer a selected range asset type.

Offers Mobile Trading – Every Philippine forex trader needs to have access to the inter-bank market irrespective of which device they own. This is why brokers make available mobile apps for android and ios, desktop, and web apps for traders. This makes trading seamless and less stressful.

Easy Deposit/Withdrawal – As a Philippine forex trader, you need to choose a broker that supports the payment option that works in the Philippines. Also, the payment option needs to provide the lowest fees and fast in processing payments. For the Philippines, Skrill, Neteller, Master Card, Visa Card, and WebMoney are the best payment options.

Effective Customer Service – Before signing up to a broker, you need to first visit the brokers’ website and ask as many questions as possible. This helps you gain confidence in the platform and helps you resolve any issues that might come up during trading.

Below is the list of all the best brokers that accept Philippine traders. We’ve also included the pros & cons of each broker with links to the brokers official website.

XM Broker

9.6

Trading Experience

9.6/10

Customer Support

9.4/10

Mobile Trading

9.6/10

Asset Coverage

9.6/10

Funding/Withdrawal

9.7/10

Fees

9.3/10

Security

9.7/10

Pros

  • Regulated By ASIC, CySEC and IFSC
  • Foundation Year: 2009
  • Min. Deposit: $5
  • Min. Trade: 0.01 Micro lots
  • Max. Leverage: 1:888
  • Lowest Spreads: 0.1 Pips on Currencies
  • Trading Platforms: MT4, MT5, Android, iOS, Windows & Mac OS
  • Zero Commission On All Trades
  • A Solid Educational Offering For Beginner Traders With Daily Interactive Live Trading Rooms
  • Great Customer Support & Fast Withdrawals

Cons

  • No Forex ECN Account


HotForex Broker

9.3

Trading Experience

9.3/10

Customer Support

9.3/10

Mobile Trading

9.4/10

Asset Coverage

9.0/10

Funding/Withdrawal

9.3/10

Fees

9.2/10

Security

9.5/10

Pros

  • Regulated By CySEC, DFSA, FCA, FSA-SC, FSCA
  • Foundation Year: 2010
  • Min. Deposit: $5
  • Min. Trade: 0.01 Lots
  • Max. Leverage: 1:1000
  • Lowest Spreads: 0.0 Pips on Currencies
  • Trading Platforms: MT4, MT5, Android, iOS, Windows & Mac OS
  • Commission-Free Trading Accounts Available
  • Great Customer Support and Beginner Friendly
  • Lots Of Premium MetaTrader Tools And Indicators Such as AutoChartist

Cons

  • Only 56 Shares Are Available


IC Markets Broker

9.2

Trading Experience

9.7/10

Customer Support

9.3/10

Mobile Trading

9.4/10

Asset Coverage

9.1/10

Funding/Withdrawal

9.3/10

Fees

8.7/10

Security

9.0/10

Pros

  • Regulated By ASIC, CySEC and FSA-SC
  • Foundation Year: 2007
  • Min. Deposit: $200
  • Min. Trade: 0.01 Lots
  • Max. Leverage: 1:500
  • Lowest Spreads: 0.0 Pips on Currencies
  • Trading Platforms: cTrader, MT4, MT5, Android, iOS, Windows & Mac OS
  • Commission-Free Trading Available
  • Raw Spread Accounts With Institutional Grade Liquidity Available
  • Impressive Library Of Educational Material and Videos

Cons

  • Beginner Traders May Be Overwhelmed By the Choice Of Markets and Platforms


IQ Option Broker

9

Trading Experience

9.6/10

Customer Support

7.5/10

Mobile Trading

9.0/10

Asset Coverage

9.2/10

Funding/Withdrawal

8.8/10

Fees

8.8/10

Security

9.9/10

Pros

  • Regulated By FCA, MiFID and CySEC
  • Foundation Year: 2013
  • Min. Deposit: $10
  • Min. Trade: $1
  • Max. Leverage: 1:1000
  • Lowest Spreads: 0.6 Pips on Currencies
  • Trading Platforms: Android, iOS, Windows & Mac OS
  • Margin Trading
  • Beginner Friendly

Cons

  • MetaTrader Or CTrader Platforms Not Offered
  • Not The Highest Leverage On The Market
  • Limited To Certain Jurisdictions


eToro Broker

8.7

Trading Experience

9.9/10

Customer Support

8.6/10

Mobile Trading

8.9/10

Asset Coverage

8.3/10

Funding/Withdrawal

8.3/10

Fees

7.6/10

Security

9.0/10

Pros

  • Regulated By ASIC, CySEC, FCA and MiFID
  • Foundation Year: 2007
  • Min. Deposit: $200
  • Min. Trade: $1
  • Max. Leverage: 1:30
  • Lowest Spreads: 1.0 Pips on Currencies
  • Trading Platforms: cTrader, Android, iOS, Windows & Mac OS
  • Best Overall Copy Trading Broker
  • Innovative Trading Platform
  • Ability To Earn 2% Management Fee as an Investor Trader

Cons

  • Does Not Have The MetaTrader Platform


Olymp Trade Broker

8.6

Trading Experience

9.0/10

Customer Support

7.5/10

Mobile Trading

8.6/10

Asset Coverage

8.2/10

Funding/Withdrawal

8.6/10

Fees

8.5/10

Security

9.5/10

Pros

  • Regulated By CySEC
  • Foundation Year: 2014
  • Min. Deposit: $10
  • Min. Trade: $1
  • Max. Leverage: 1:1000
  • Lowest Spreads: 0.7 Pips on Currencies
  • Trading Platforms: MT4, MT5, Android, iOS, Windows & Mac OS
  • Extensive Asset Coverage
  • European Regulation
  • Beginner Friendly

Cons

  • Limited To Certain Jurisdictions


FXTM Broker

8.8

Trading Experience

8.8/10

Customer Support

8.7/10

Mobile Trading

8.8/10

Asset Coverage

8.7/10

Funding/Withdrawal

8.4/10

Fees

8.9/10

Security

9.0/10

Pros

  • Regulated By CySEC, FCA and FSC
  • Foundation Year: 2011
  • Min. Deposit: $10
  • Min. Trade: 0.01 Lots
  • Max. Leverage: 1:1000
  • Lowest Spreads: 0.3 Pips on Currencies
  • Trading Platforms: MT4, MT5, Android, iOS, Windows & Mac OS
  • Offers Both ECN and Standard Accounts
  • Impressive Research and Education Services

Cons

  • Traders From USA, Canada and Iran Not Welcomed


ExpertOption Broker

8.9

Trading Experience

9.3/10

Customer Support

8.9/10

Mobile Trading

9.3/10

Asset Coverage

7.5/10

Funding/Withdrawal

8.8/10

Fees

8.8/10

Security

9.7/10

Pros

  • Regulated By FMRRC, VFSC, MiFID and CySEC
  • Foundation Year: 2014
  • Min. Deposit: $10
  • Min. Trade: $1
  • Max. Leverage: 1:500
  • Lowest Spreads: 0.5 Pips on Currencies
  • Trading Platforms: Android, iOS, Windows & Mac OS
  • Extensive Asset Coverage
  • European Regulation
  • Best For Beginners

Cons

  • MetaTrader Or CTrader Platforms Not Offered
  • Not The Highest Leverage On The Market
  • Limited To Certain Jurisdictions


Alpari Broker

9.1

Trading Experience

9.3/10

Customer Support

9.4/10

Mobile Trading

8.9/10

Asset Coverage

9.3/10

Funding/Withdrawal

9.1/10

Fees

8.6/10

Security

9.3/10

Pros

  • Regulated By FSC
  • Foundation Year: 1998
  • Min. Deposit: $5
  • Min. Trade: 0.01 Lots
  • Max. Leverage: 1:1000
  • Lowest Spreads: 0.1 Pips on Currencies & 0 Pips on ECN Accounts
  • Trading Platforms: MT4, MT5, Android, iOS, Windows & Mac OS
  • Both ECN and Standard Accounts Available
  • Access the Alpari Copy Trading Programme
  • Wide Range Of Trading Accounts, Some Offering Commission-Free Trading

Cons

  • Non-Existent Research Tools
  • Traders From USA, Canada and Iran Not Welcomed


OctaFX Broker

8.6

Trading Experience

8.8/10

Customer Support

9.0/10

Mobile Trading

7.5/10

Asset Coverage

8.6/10

Funding/Withdrawal

8.4/10

Fees

8.4/10

Security

9.3/10

Pros

  • Regulated By CySEC
  • Foundation Year: 2011
  • Min. Deposit: $10
  • Min. Trade: 0.01 Micro lots
  • Max. Leverage: 1:500
  • Lowest Spreads: 0.1 Pips on Currencies
  • Trading Platforms: MT4, MT5, cTrader, Android, iOS, Windows & Mac OS
  • Wide Range Of Trading Accounts
  • Forex ECN Account Available
  • Access Copy Trading, Bonus Promotions and Research Tools

Cons

  • Limited Commodity Markets, No Individual Stock CFDs